Snapshots | Business Facilities - Economic Development, Site Selection & Workforce Solutions

KPMG recently released the results of its 2010 Competitive Alternatives study. We asked Hartley Powell to comment on major trends tracked by the study. BF: Do the 2010 results show an improvement or a decline in overall U.S. competitiveness? HP: My assessment is that the United States is holding its own in terms of cost-competitiveness relative to other industrialized nations. While the ranking of the United States in 2010 is somewhat lower than in 2008, this is due mainly to the shift in emphasis for the 2010 edition, which bases the comparison on the major cities within each country rather than one with a broader base of larger and smaller cities. Over the last few years, U.S. companies have achieved massive structural changes that have lowered the cost of production. BF: What is the biggest factor currently impacting U.S. competitiveness? HP: Productivity growth has clearly been a key factor in spurring U.S. competitiveness in the global economy. Despite the impact of the recent financial crisis and increased competition from fast-growing economies, such as those in China and India, the U.S. economy has demonstrated its resiliency during the recent recession, and strong productivity performance has been an important contributor to that success. This improved productivity supports solid competitiveness for the U.S. for the near and longer term. BF: We were surprised to see Mexico get the top ranking for R&D cost-competitiveness. Is the skill-level there comparable to the United States and Europe? HP: R&D includes a wide range of activities, from scientific research to prototype manufacturing. Many companies have developed and expanded these types of operations in Mexico for many years, so it would be safe to assume that their needs are being met. BF: The study lists increased electricity rates as a cost trend in the U.S. Will this be a temporary disadvantage as more alternative energy comes online? HP: A number of industry studies are projecting strong growth in U.S. electricity demand over the next several years, leading to continued upward pressure on U.S. electricity rates. Clearly, electricity prices vary significantly across different regions of the United States. Renewable energy mandates can increase the cost of power since renewables are generally more expensive than traditional sources of energy. While future demand may be met from alternative or renewable sources, we still do not anticipate a decline in rates. BF: The study indicates that labor costs have the biggest impact on cost competitiveness. Can a location mitigate that impact if it has an available pool of skilled workers within proximity […]


KPMG recently released the results of its 2010 Competitive Alternatives study. We asked Hartley Powell to comment on major trends tracked by the study. BF: Do the 2010 results show an improvement or a decline in overall U.S. competitiveness? HP: My assessment is that the United States is holding its own in terms of cost-competitiveness relative to other industrialized nations. While the ranking of the United States in 2010 is somewhat lower than in 2008, this is due mainly to the shift in emphasis for the 2010 edition, which bases the comparison on the major cities within each country rather than one with a broader base of larger and smaller cities. Over the last few years, U.S. companies have achieved massive structural changes that have lowered the cost of production. BF: What is the biggest factor currently impacting U.S. competitiveness? HP: Productivity growth has clearly been a key factor in spurring U.S. competitiveness in the global economy. Despite the impact of the recent financial crisis and increased competition from fast-growing economies, such as those in China and India, the U.S. economy has demonstrated its resiliency during the recent recession, and strong productivity performance has been an important contributor to that success. This improved productivity supports solid competitiveness for the U.S. for the near and longer term. BF: We were surprised to see Mexico get the top ranking for R&D cost-competitiveness. Is the skill-level there comparable to the United States and Europe? HP: R&D includes a wide range of activities, from scientific research to prototype manufacturing. Many companies have developed and expanded these types of operations in Mexico for many years, so it would be safe to assume that their needs are being met. BF: The study lists increased electricity rates as a cost trend in the U.S. Will this be a temporary disadvantage as more alternative energy comes online? HP: A number of industry studies are projecting strong growth in U.S. electricity demand over the next several years, leading to continued upward pressure on U.S. electricity rates. Clearly, electricity prices vary significantly across different regions of the United States. Renewable energy mandates can increase the cost of power since renewables are generally more expensive than traditional sources of energy. While future demand may be met from alternative or renewable sources, we still do not anticipate a decline in rates. BF: The study indicates that labor costs have the biggest impact on cost competitiveness. Can a location mitigate that impact if it has an available pool of skilled workers within proximity […]

60 Seconds with Hartley Powell, National Leader of KPMG’s Global Relocation & Expansion Services

Snapshots Articles

60 Seconds with Hartley Powell, National Leader of KPMG’s Global Relocation & Expansion Services

60 Seconds with Hartley Powell, National Leader of KPMG’s Global Relocation & Expansion Services

KPMG recently released the results of its 2010 Competitive Alternatives study. We asked Hartley Powell to comment on major trends tracked by the study. BF: Do the 2010 results show an improvement or a decline in overall U.S. competitiveness? HP: My assessment is that the United States is holding its own in terms of cost-competitiveness relative to other industrialized nations. While the ranking of the United States in 2010 is somewhat lower than in 2008, this is due mainly to the shift in emphasis for the 2010 edition, which bases the comparison on the major cities within each country rather than one with a broader base of larger and smaller cities. Over the last few years, U.S. companies have achieved massive structural changes that have lowered the cost of production. BF: What is the biggest factor currently impacting U.S. competitiveness? HP: Productivity growth has clearly been a key factor in spurring U.S. competitiveness in the global economy. Despite the impact of the recent financial crisis and increased competition from fast-growing economies, such as those in China and India, the U.S. economy has demonstrated its resiliency during the recent recession, and strong productivity performance has been an important contributor to that success. This improved productivity supports solid competitiveness for the U.S. for the near and longer term. BF: We were surprised to see Mexico get the top ranking for R&D cost-competitiveness. Is the skill-level there comparable to the United States and Europe? HP: R&D includes a wide range of activities, from scientific research to prototype manufacturing. Many companies have developed and expanded these types of operations in Mexico for many years, so it would be safe to assume that their needs are being met. BF: The study lists increased electricity rates as a cost trend in the U.S. Will this be a temporary disadvantage as more alternative energy comes online? HP: A number of industry studies are projecting strong growth in U.S. electricity demand over the next several years, leading to continued upward pressure on U.S. electricity rates. Clearly, electricity prices vary significantly across different regions of the United States. Renewable energy mandates can increase the cost of power since renewables are generally more expensive than traditional sources of energy. While future demand may be met from alternative or renewable sources, we still do not anticipate a decline in rates. BF: The study indicates that labor costs have the biggest impact on cost competitiveness. Can a location mitigate that impact if it has an available pool of skilled workers within proximity […]


60 Seconds with Brendan Miller, Green Economy Manager, New Mexico Economic Development Department

60 Seconds with Brendan Miller, Green Economy Manager, New Mexico Economic Development Department

Brendan Miller became New Mexico’s first Green Economy Manager in 2008. We asked him to explain his role and the state’s clean-energy strategy. BF: What is New Mexico’s strategy for development of alternative energy growth? BM: Gov. Richardson’s Green Jobs Cabinet (GJC) has identified five key goals for New Mexico: 1) Be the leader in renewable energy export, 2) Be the Center of the North American Solar Industry, 3) Lead the nation in Green Grid innovation, 4) Be a center of excellence in green building and energy efficiency, 5) Have a highly skilled and ready-to-work workforce. BF: Many states are focusing on one type of renewable energy, while others are trying to build a diversified base. Should each region “play to its strength” or is diversification the key to success? BM: We have been stressing the importance of economic and energy diversification across the state. In New Mexico we are blessed with strong solar, wind and geothermal potential and we plan to develop all three. These various sources can support each other by increasing the load factor on transmission lines since they are available at different times of the day. This means less natural gas or storage will be needed to back up intermittent renewable energy sources, reducing costs. I believe it is important at the utility scale to play to regional strengths to compete. BF: What are the major economic development challenges that may arise from a cap-and-trade system? BM: With New Mexico’s strong history of oil and gas production, we have to find a way to strike a balance on cap and trade issues.  Carbon pricing can stimulate innovation but it can also produce business and job “leakage” if it is unevenly implemented between states. Our department generally considers national or regional cap and trade structures that create a level playing field between states a reasonable compromise. BF: How critical is it to create an infrastructure for clean energy technologies, including major new transmission systems? BM: Transmission is absolutely critical for a state like ours with a large renewable energy resource and a small population. We must find ways to get our power to major demand centers, which is why our Renewable Energy Transmission Authority is so important. Energy storage and other green grid / smart grid infrastructure will also be critical. We are working to make progress on all of these fronts. BF: Many governors are calling for national standards that would set a goal of 10% of U.S. electric power derived from renewable sources by 2012. […]


60 Seconds with Mark Peterson, President, Greater Rochester Enterprise

60 Seconds with Mark Peterson, President, Greater Rochester Enterprise

The state government and legislature in New York is preparing to end the Empire Zone incentives program in July and replace it with a more cost-effective program that has stringent job-creation requirements. We asked Greater Rochester Enterprise President Mark Peterson for his thoughts on this controversial move, and invited him to comment on proposals to have Empire Zone incentives convert from loans to grants if recipients are able to meet specified job targets. BF: Has the Empire Zone incentives program been effective as a job-creation tool in New York State? Can you tell us how many jobs have been created with the assistance of the program? MP: The Empire Zone incentives program has been effective at creating jobs in New York State. Since its inception in 2000, it has certified more than 8,000 businesses that employ more than 350,000 people. However, companies who have been helped by the Empire Zone program need to do a better job of meeting their investment goals. BF: Do you think the program should be replaced? MP: I don’t have any reservations to doing away with Empire Zones, as long as it’s replaced with a program that allows us to be competitive. The devil is in the details of providing incentives to companies wishing to expand or move here. For example, tax credits are fine provided they can be monetized over time so a company can take advantage of the full financial benefit through either utilization or by receiving a refund. BF: What would be the economic impact on your region if current plans to replace the Empire Zone program are enacted in July? Do you think the changes may have a negative effect? MP: The economic impact on the Greater Rochester Region will be positive as long as the Empire Zone is replaced with an affordable, sustainable program that makes it worthwhile for businesses to expand or relocate here. BF: How would you like to see the state incentives program adjusted, or do you think it should remain identical to the current structure? MP: I would like to see it adjusted. Most companies are challenged with what they can do at the front end, because there is usually capital expenditure going on to build a new plant. One way the state could help companies deal with those challenges —and create jobs—would be to offer loans. The loans would turn into grants under the right circumstances. If you make your job target, we’ll convert the loan to a grant. If not, the state would demand […]


60 Seconds with Mark Peterson, President, Greater Rochester Enterprise

60 Seconds with Mark Peterson, President, Greater Rochester Enterprise

The state government and legislature in New York is preparing to end the Empire Zone incentives program in July and replace it with a more cost-effective program that has stringent job-creation requirements. We asked Greater Rochester Enterprise President Mark Peterson for his thoughts on this controversial move, and invited him to comment on proposals to have Empire Zone incentives convert from loans to grants if recipients are able to meet specified job targets. BF: Has the Empire Zone incentives program been effective as a job-creation tool in New York State? Can you tell us how many jobs have been created with the assistance of the program? MP: The Empire Zone incentives program has been effective at creating jobs in New York State. Since its inception in 2000, it has certified more than 8,000 businesses that employ more than 350,000 people. However, companies who have been helped by the Empire Zone program need to do a better job of meeting their investment goals. BF: Do you think the program should be replaced? MP: I don’t have any reservations to doing away with Empire Zones, as long as it’s replaced with a program that allows us to be competitive. The devil is in the details of providing incentives to companies wishing to expand or move here. For example, tax credits are fine provided they can be monetized over time so a company can take advantage of the full financial benefit through either utilization or by receiving a refund. BF: What would be the economic impact on your region if current plans to replace the Empire Zone program are enacted in July? Do you think the changes may have a negative effect? MP: The economic impact on the Greater Rochester Region will be positive as long as the Empire Zone is replaced with an affordable, sustainable program that makes it worthwhile for businesses to expand or relocate here. BF: How would you like to see the state incentives program adjusted, or do you think it should remain identical to the current structure? MP: I would like to see it adjusted. Most companies are challenged with what they can do at the front end, because there is usually capital expenditure going on to build a new plant. One way the state could help companies deal with those challenges —and create jobs—would be to offer loans. The loans would turn into grants under the right circumstances. If you make your job target, we’ll convert the loan to a grant. If not, the state would demand […]


60 Seconds with with Paul G. Risser, Ph.D. Executive Director EDGE Fund Policy Board

60 Seconds with with Paul G. Risser, Ph.D. Executive Director EDGE Fund Policy Board

Oklahoma Gov. Brad Henry has a proposed a $1-billion endowment for the Economic Development Generating Excellence (EDGE) program. Dr. Paul Risser explains how the fund will create research projects that attract jobs. BF: EDGE has focused investments in aerospace, agriculture, biotechnology, energy and weather science. Will the new funding include other initiatives? PR: In 2009 the EDGE program was expanded to include the following areas: aerospace, agriculture, biotechnology, energy, information technology, nanotechnology, sensors, and weather science.  Each year the EDGE Fund Policy Board reviews the focal areas for the upcoming funding competition and collectively chooses those areas in which Oklahoma has strong technical expertise and where there are commercial opportunities. BF: The governor has indicated that designated funding to the EDGE endowment will not begin flowing until the state’s budget crisis is over. Will this delay any commitments to specific projects? PR: The first round of funding was committed in 2008 to 5 initial companies, and in 2009 another 5 companies were added to the list of EDGE awardees. The funds available each year are the earnings from the EDGE endowment and thus these will continue to be available each year. BF: Have any of the projects initiated under the EDGE program produced tangible commercial applications? PR: Several of our projects have produced products available commercially.    OrthoCare creates high-technology prosthetics; last year, they successfully launched their Compas technology for sale and distribution, as well as announcing four new technologies available in September 2009.  There also have been successes in the creation of the SEAM Industries, bringing Oklahoma to the forefront of shape engineering in the MRO (Maintenance, Repair, and Overhaul) industry. Our wind energy project has created a software package that brings together key data for the establishment and operation of wind farms. BF: In the last round of EDGE projects, 94 pre-proposals were winnowed down to 18 proposals that were given a technical review, resulting in five projects. Are there any plans to expand or speed up the proposal review process? PR: The EDGE Policy Board distributed $10.5M in 2008 and $7.3M in 2009. The amount of funding available each year depends on the earnings from the EDGE endowment. As the EDGE endowment grows, more money will be available to fund projects. In 2009, five new projects were awarded funding through the EDGE program. Each year the pre-proposals and the proposals are extensively reviewed by a panel of Advisory Committee experts, the EDGE Policy Board, a team of technical reviewers and the EDGE Administrative staff. Because these are public […]


60 Seconds with Andy Shapiro, Managing Director, Biggins Lacy Shapiro & Co.

60 Seconds with Andy Shapiro, Managing Director, Biggins Lacy Shapiro & Co.

In a tough economy, some are questioning the use of tax incentives to convince businesses to relocate. Andy Shapiro, Managing Director of Biggins Lacy Shapiro & Co., Princeton, NJ gives us his perspective on whether tax incentives are an effective way to promote development. BF: Are tax incentives often the determining factor in a company’s location decision? AS: Twenty years ago, incentives typically received less weight during the initial site selection process, and became a more key determinant only as the project neared its final stages. Now, as cost control becomes more critical, the search for effective incentives plays a more pronounced role in earlier project stages. Incentives can swing an investment toward an otherwise comparable jurisdiction; or they can make the difference between a decision to move forward and one not to invest at all. BF: Are tax incentives a cost effective tool for job creation? AS: While there has been little research into how effective state job creation tax credits are in promoting job creation, Federal Reserve, researchers have have found that these programs appear to be quite effective at increasing overall business activity within a state. Also, remember that in a growing number of states the tax credit per new job is a percentage of the state income tax withholdings associated with that job. So what you really have is a form of revenue sharing whereby very little public monies are spent on actual job creation. Finally, any calculus of job creation benefits should be sure to take into account the indirect and induced (or “downstream”) jobs created as a result of the multiplier effect from each “direct “ new job. BF: Will states reduce their reliance on tax incentives or will they view them as essential in the site selection competition? AS: We have witnessed budgetary pressures in many states that have threatened existing incentive programs.  Incentives targeting emerging industries, including investment tax credits and venture capital funds, appear to have taken the brunt of this impact. However, so-called “pay as you go” incentives such as job creation tax credits will likely endure as they are considered to be revenue neutral. Also, some states have chosen to double-down during the recession and to increase incentives for new jobs and investment. BF: Do you think tax incentives generally are applied too broadly? AS: Incentives are pricing tools: their impact goes right to a project’s bottom line. State agencies and local jurisdictions use incentives to intervene in the market where a marginal, additional public investment is capable of […]


60 Seconds with Mario Brossi, North American Senior Representative, Switzerland Trade and Investment Promotion

60 Seconds with Mario Brossi, North American Senior Representative, Switzerland Trade and Investment Promotion

Switzerland has surpassed the U.S. as the top-ranked country in the World Economic Forum’s annual Global Competitiveness survey. Mario Brossi, who has dual Swiss and American citizenship, puts this achievement in perspective. BF: What factors enabled Switzerland to surpass the U.S. in the WEF survey? MB: Although Switzerland is proud to be at the top of the table this year, we view this more as a marathon than a sprint, with the U.S. coming in a very close second. Being in the top tier in the long run is what is key, with Switzerland’s long-term economic stability, excellent capacity for innovation and sophisticated business culture making the fundamental difference this year. BF: Switzerland has attracted more than 40 new projects from the U.S. in the past year. Can you give us some examples of the investment criteria that have influenced these location decisions? MB: Parker Hannifin cited a stable and business-friendly government, outstanding infrastructure and a well-educated, highly productive and multilingual workforce combine to provide an excellent environment for our international operations, Ecolab selected the Zurich area because of its consistent ranking as one of the best business locations in the world, as well as the outstanding quality of life [which] will help us attract and retain world-class and diverse talent.” Worldwide HR firm Kelly Services said Switzerland is an ideal base from which to service clients across its EMEA operations, with an excellent transportation infrastructure. BF: Has the Swiss government offered any new incentives and/or tax breaks to lure overseas businesses? MB: Switzerland through its federal and cantonal governments and public/private partnerships has been putting more emphasis on the marketing side, actively promoting the country as a leading business, conference and investment location. For example, the federal promotion effort has now been expanded and merged with the trade promotion activities on behalf of all Swiss FDI-focused enterprises overseas under the name Switzerland Trade and Investment Promotion. However, cantons in Switzerland are reducing their level of corporate and individual taxation BF: Was the top competitiveness ranking the result of a coordinated strategy? MB: Sustainability, innovation, education, research and investment are among the many criteria that our country seeks to improve year and year out. The fact that these jelled this year and that others were more directly affected by market weakness and instability were probably more responsible for the overall outcome than the idea that Switzerland had a mega, overarching strategy to achieve this result. BF: Do you believe Switzerland will maintain its top ranking in coming years? MB: Predicting […]


60 Seconds with Bruce A. Kellogg, Chairman, OSCRE Americas, and Senior Vice President, Industry Relations, Argus Software Inc.

60 Seconds with Bruce A. Kellogg, Chairman, OSCRE Americas, and Senior Vice President, Industry Relations, Argus Software Inc.

The Open Standards Consortium for Real Estate (OSCRE Americas) is preparing to merge with PISCES Ltd to form OSCRE International. Bruce Kellogg, chair of OSCRE America, explains how the merger will impact on the development of global standards for real estate commerce. BF: How will the merger effect the ongoing development of standards for real estate commerce and operations. BK: The merger of OSCRE and PISCES will have a major ongoing impact for real estate commerce and operations based on our united efforts to be a global organization. This union of the two leading developers of real property data standards and interoperability will unify the entire real estate industry and related entities to establish the most utilized interoperable data standards in real estate today. The ultimate goal will be data standards that are truly global. BF: How soon will globalization of the real estate industry be achieved, and what are the benefits? BK: Globalization of the real estate industry [will happen] when the industry understands and values the benefits of decreased labor cost, increased productivity, and the open and flexible exchange of information. The potential merger will expedite the process [and] create the platform to do business in a fraction of the time and with higher quality results. The merger will speed up the growth of (interoperable) e-business in real estate by removing barriers to individual innovation, reducing the repetitive and non-value added work for the industry. BF: How will standardized formats for electronic transfer of information improve the way real estate transactions are conducted? BK: We are establishing a common language for real estate commerce and providing neutral, verifiable formats for information interchange. For example, classification of space is used in conjunction with space measurement standards to describe and manage space allocation, account for premises costs and coordinate many real estate property performance metrics, including space, personnel, asset allocation, financial and contracted services. The U.S. Air Force has a goal of reducing their physical plant 20 percent (85 million square feet) by 2020 in order to offset a 20 percent reduction in funds available for installation support activities. They plan to meet this goal by implementing a standardized process utilizing the OSCRE Space Classification Standard that incorporates the Unified BOMA and IFMA Floor Area Measurement Standard. BF: Will there will be a dramatic transformation of the real estate industry? BK: We must see a dramatic transformation of the real estate industry! While many would like to see the status quo, the reality is that we will move forward to […]


60 Seconds with Rob McClintock, Director of Research of the Virginia Economic Development Partnership

60 Seconds with Rob McClintock, Director of Research of the Virginia Economic Development Partnership

Rob McClintock is Director of Research of the Virginia Economic Development Partnership and state liaison for the Commonwealth Center for Advanced Manufacturing, a $50-million collaboration between the Commonwealth, the University of Virginia and Virginia Tech. BF: How quickly will the CCAM be up and running, and where will it be located? RM: CCAM will be located on a 10-acre site near the southern entrance to the 1,000-acre Rolls-Royce Crosspointe manufacturing campus in the Richmond-Petersburg metro area. The facility, to be owned by the University of Virginia Foundation, will be a not-for-profit organization. We anticipate construction beginning in the 4th quarter of 2010, with occupancy early in 2012. BF: CCAM is geared to support Rolls Royce through a new Commonwealth Center for Aerospace Propulsion Systems. Will this academic/industrial collaboration be applied to other sectors? RM: We absolutely view CCAM as a vehicle to help drive broad-based collaboration between industry and academia for the discovery of new manufacturing technologies. CCAM will have an initial research emphasis on surface engineering and manufacturing systems. We anticipate CCAM will add to the growing body of knowledge into advanced manufacturing capability across a wide range of industry sectors. The key is to create an environment of non-competitive collaboration, whereby all members can share in discovery and testing of new manufacturing processes. We have had several other aerospace companies, defense-related manufacturers, manufacturing systems firms, and energy-related companies embrace the concept. The founding members also will reach out to other governmental research institutions and universities to  broaden the membership of the Center. BF: Is the CCAM empowered to commercialize new technologies? RM: Members of CCAM can have the best of both worlds. The CCAM Board will set the core research program undertaken annually by the Center, but members can participate in shared research which can produce intellectual property. Members would receive royalty free, non-exclusive licenses to that shared research as long as they remain members. Additionally, Center members could undertake very company-specific research projects, in which case the member could receive royalty free, exclusive licenses to that research. BF: Has Virginia made a long-term commitment to the CCAM? RM: We believe the future belongs to those who can find ways to bring innovation from the research labs to the production line. We took a similar view with our SRI collaboration with James Madison University to accelerate new drug and vaccine discoveries. We are very hopeful that CCAM provides a useful template that brings the expertise of Virginia’s world-class universities directly to bear on the needs of industry. If […]


60 Seconds with William M. Sloan, of Counsel with the Law Firm Morrison & Foerster

60 Seconds with William M. Sloan, of Counsel with the Law Firm Morrison & Foerster

William Sloan is of counsel with the law firm Morrison & Foerster in San Francisco. He sits on the Climate Change Advisory Committee for the California Manufacturers and Technology Association. He formerly held positions in the U.S. Department of Environmental Protection and the Department of Justice BF: Assuming “cap-and-trade” legislation now before Congress becomes law, what will be the primary impact on major industrial concerns? Will this force companies to significantly change the way they evaluate decisions about expansions, relocations or new facilities? WS: If the legislation does reach the finish line, it tells us a lot about the new regulatory regime that will govern major industrial concerns, but it doesn’t quite get us to the “Holy Grail” for business decisions-namely, the price of carbon. For example, a price of $6 per ton, as opposed to $60 per ton, will drastically change how businesses make strategic choices for their operations. Once businesses know what it will cost to emit a ton of carbon, then businesses can meaningfully evaluate the cost of expanding operations or relocating to other countries with a different regulatory landscape. BF: Will businesses be able to adjust quickly to the reality of carbon credits? WS: For businesses that feel behind the curve, perhaps one of the best steps they can take now, for risk assessment purposes, is to comprehensively evaluate their carbon footprint, and be sure to include a supply chain/lifecycle analysis of their business operations. Even if a business itself doesn’t produce significant emissions, it can still be vulnerable to new regulation if its suppliers will be a target of regulation, if its waste disposal costs are already a substantial expense, or if its operations are energy intensive. In the end, it all comes down to who will ultimately be saddled with paying for the cost of the emissions. BF: Do you expect state economic development agencies to broker large-scale agreements among key players regarding carbon-credits, or will each company negotiate on its own behalf? WS: In terms of credits, the primary center of market activity will be on exchanges selling at whatever is the current trading price, so I don’t see large-scale novel agreements proliferating. Depending on how the offset marketplace shapes up, you could see some new alliances and partnerships created for the purpose of developing large offset-generating projects. I have been involved in CDM projects and voluntary-offset projects where a variety of players have all collaborated, bringing their own unique expertise whether it’s finance, real estate, agriculture or energy. These collaborations have included […]