Magazine Archives


New Jersey Corporate Moves

A new form of entertainment is coming to Jersey City later this year when Pole Position Raceway opens its doors just a mile away from the Statue of Liberty. The state-of-the-art indoor karting center will feature two giant race tracks inside a 75,000-square-foot-facility, and the location couldn’t be much better. “I think people are going to really be amazed at what we are creating,” said owner Eyal Farage. “Since I was introduced to this sport, I wanted to bring it to the East Coast, and there isn’t a better market or location. It’s appealing to people ages six to 60, and older.”   Pole Position Races into Jersey City Pole Position Raceway was founded in Los Angeles, California in 2005 and has become the nation’s premiere chain of indoor kart tracks in the United States with six locations. Those involved with the Pole Position Raceway brand includes 2004 NASCAR Champion Kurt Busch, 7-time AMA Supercross Champion Jeremy McGrath, X-games freestyle gold medalist Mike Metzger, and several dozen professional car and motorcycle racers. The company’s motto is “built for racers, by racers,” and they feel that everyone has a desire to go fast. Think karting is just kid’s play? Well, think again. The average customer age at the other facilities is 31 years old, and indoor kart racing is fun for the entire family and both casual and serious racers alike. The Jersey City facility will allow up to 10 drivers at a time to compete in side-by-side action. Best of all, the karts use electric technology so there are no fumes! “The idea of building a green facility was very important to me,” Farage added. “Electric technology has made significant advances during the past few years, and that really influenced our decision to bring it to this area. We have adult karts for racers who are at least 56 inches tall and separate junior karts for kids who are at least 48 inches tall.” With a plan to open additional Raceway’s in the Tri-State area, Eyal choose Jersey City for his first venue. First, Jersey City has become the “6th borough”. The transit system to and from enables millions of people from NYC boroughs to visit easily. Secondly, Jersey City dwellers are the people Pole Position Raceway targets to enjoy the karting experience. Thirdly, because a track requires a large space, most Pole Position Raceway’s are in industrial areas. “Jersey City has done a tremendous job incentivizing commercial business’s to add value in former industrial areas,” Farage said. The Liberty […]


Inside LiveXchange

Business Facilities LiveXchange is an invitation-only event for corporate executives responsible for choosing a new location for their companies’ next facility. Delegates meet with senior economic developers from across North America; attend seminars, workshops, and think tanks led by experts in the field of relocation and expansion; and network with other corporate executives faced with the same corporate growth challenges. This month, we preview some of the high-profile speakers who will be making presentations at our 2010 LiveXchange keynote address, seminars and workshops.







Virginia Corporate Moves

Alternative Energy Park Planned in Norfolk The former Ford Norfolk Assembly Plant location will become one of the country’s next alternative energy plants, according to the Jacoby Group in Atlanta. The plant has a total land area of 109 acres of industrially-zoned waterfront and rail-served land with approximately 2.6 million square feet of manufacturing facilities and convenient access to I-464 and I-64. The plant has 1,500 feet fronting the Eastern Branch of the Elizabeth River and a 450-foot concrete pier has been constructed to the barge-depth channel. Norfolk is also moving forward in the development of offshore wind energy. The Virginia city is a member of VOW, Virginia’s Offshore Wind Coalition. Our shipbuilders, fabricators, distributors and integrated electronic system providers are representative of the supply chain resources that will be needed to make offshore wind energy a reality. Proponents of commercial wind power 12 miles or beyond Virginia’s coast believe the giant turbines could ultimately provide 10 percent of the state’s annual electricity demand and operate without incident in the military’s busy seas. The Department of Defense is studying 25 tracts identified for optimum winds. A recent report identifies 18 tracts as compatible with military needs and rules as long as certain guidelines are met. They were not detailed in the report. Scientists, engineers and geographers at Virginia Tech—ARI, Old Dominion University, Science Applications International Corp., Paliria Energy, Norfolk State University and James Madison University—are researching offshore wind power, mapping offshore areas and economic development impact. Download several presentations from the vcerc.org site. Norfolk Southern: Riding the Rails to Growth Norfolk Southern Corp. participated in the location of 70 new industries and the expansion of 23 existing industries along its rail lines in 2009, according to figures released by the company. Norfolk Southern assisted state and local government and economic development officials throughout 19 states in helping customers identify ideal locations for new and expanded facilities. New plants and expansions represented an investment of more than $3.1 billion by Norfolk Southern customers and are expected to create 3,000 jobs in the railroad’s territory, eventually generating more than 138,500 carloads of new rail traffic annually. The energy sector anchored our results during 2009,” said Newell Baker, assistant vice president industrial development. “Our group assisted in the location or expansion of 24 energy related facilities in 12 states across our service area. Ethanol production and distribution accounted for the lion’s share of energy projects, with 11 new and expanded facilities that began to receive NS rail service in 2009.” The balance of […]