Community leaders in the Magnolia State are getting down to business by creating new economic growth tools that are garnering national, and even international, attention.
Geographic Informations Systems are being deployed by locations to enable developers to zero in on available properties. Here are some basic steps for getting the most out of GIS.
With one of the fastest-growing clean energy sectors in the nation, including electric car manufacturing, the Volunteer State is poised for growth.
Gold Award With a $3.6-billion expansion of Samsung’s semiconductor fabrication facility in Austin, TX, the capital of the Lone Star State has put everyone on notice that it intends to remain the top U.S. hub in the burgeoning microchip sector. Project Title: Samsung Austin Semiconductor Expansion Entered By: Greater Austin Chamber of Commerce Our blue-ribbon panel of industry experts had to make some tough choices when assessing the nominees for Business Facilities’ 2010 Economic Development Deal of the Year Awards. This year’s competition—our largest field of contestants to date—featured 24 top-flight projects from 20 states. A bevy of major high-tech initiatives went head-to-head with locations enjoying a robust resurgence in traditional manufacturing, including the largest single investment in steel production in years. The judges have spoken: this year’s top honors go to Greater Austin Chamber of Commerce, Regional Economic Development, Inc. of Missouri and Louisiana Economic Development. The $3.6-billion expansion of Samsung Austin Semiconductor (SAS) in Texas has been selected as our 2010 Economic Development Deal of the Year Gold Award winner. The semiconductor fabrication plant project was submitted by Greater Austin Chamber of Commerce, which also credited the Governor’s Office of Economic Development and Tourism and the City of Austin for their help in sealing the deal. SAS announced in June plans to expand its 12-inch semiconductor fabrication plant in Austin. The project is expected to create up to 7,600 direct and indirect jobs for the Austin Metro Area. The new investment in the Austin fab builds on $5.6 billion the Korean tech giant has previously committed to the SAS facility over the past 14 years, bringing the total investment to approximately $9.2 billion. The company said it would increase employment at the plant from 1,000 to 1,600 by 2011, with annual payroll rising from $70 million to $112 million during the same period. Annual operations at SAS currently inject more than $800 million into the area economy annually; when ripple effects are included, SAS is responsible for more than $1.4 billion each year in local economic activity and $296 million in total worker earnings. Employment at SAS represents more than 13 percent of the Austin, TX area’s technology production base. Almost 3,000 construction workers will be employed in the $633-million build-out of the fab expansion. The expanded semiconductor fab will produced 45-nanometer and below microchips for Samsung’s System LSI business. The plant currently produces a variety of NAND Flash memory chips. “Forty-five nanometer and below advanced logic applications are in high demand and respective markets are expected to […]
The America China Society of Indiana (ACSI) was recently formed as the trade organization that will promote cooperative business, trade and investment opportunities between the Hoosier State and the world’s most populous nation. The effort is headed by ACSI chairman Albert Chen, president and founder of Telamon. BF: How long has Telamon been involved in business ventures on mainland China? Do you have facilities in China? AC: Our firm has been in China since 1986. We operate three facilities there that repair and test wireless devices. We also are involved in IT software development in China and South Korea. BF: The announcement for the new trade initiative indicated that Indiana will be promoting agricultural products, advanced bioscience, automotive and IT technology for export to China. Do you expect this to be a two-way street, resulting in new jobs in Indiana? AC: The focus will be on both jobs and the exchange of goods. We are interested in selling Indiana’s products in China, which will create jobs here. We also want to help China understand the investment opportunity for Chinese firms here in Indiana. We aim to promote cooperative business, trade and investment opportunities between Indiana and China. BF: China has a huge, low-cost labor pool and a growing domestic market. Can U.S. producers compete with Chinese manufacturers in their home market? AC: Our exports to China will help meet the tremendous demand of the Chinese market. We also want to convince China that it can make a wise investment in Indiana in producing consumer goods here as well as industrial parts. BF: What will be one of the key attractions for Chinese businesses that may want to set up shop in Indiana? AC: Indiana is the Crossroads of America. We can offer tremendous logistics advantages for anyone locating their business in Indiana. BF: Currently, the U.S. balance of trade with China is widely skewed in China’s favor. Can this trend be reversed? AC: Sometimes these figures can be misleading. For example, custom touchscreen phone components that cost $178 to produce in the U.S. cost $6 to produce in China, but the value of the goods is usually stated based on the U.S. cost. BF: Many businesses like yours have forged their own ties with China. Why is a statewide trade organization needed? AC: A lot of small- to medium-sized businesses don’t have enough experience in dealing with China. We want to share our experience with them. BF: It took about 20 years to establish a significant number of Japanese business […]
In its 40-year history, entrepreneurship and innovation have been the hallmark of Group C’s emergence as a full-service provider to the site selection community. Ed Coene’s original formula for success still guides the development of a dynamic brand with international reach in print, online and unique events that are essential components of successful project development. From the November/December 2010 issue.
Coping with job losses and working to strengthen their economy, states have turned up the heat on business incentives geared to stimulate growth.
From the Desk of the Editor in Chief
Expanded incentives are giving Mississippi a leg up on attracting leading-edge industries including clean energy, data centers and aerospace composites.
Juicy apples aren’t the only bumper crop in Upstate NY these days—a bold new future is ripening. Take our tour and sample the produce.