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Report: Tax Incentives Waste Money, Don’t Create Jobs

A study funded by Heinz Endowments and undertaken by non-profit Good Jobs First has questioned the value of Pennsylvania’s use of large tax breaks to lure high-tech business to the state and keep existing players from relocating. The 94-page study, called “Growing Pennsylvania’s High Tech Economy: Choosing Effective Investments,” released today, compared Pennsylvania’s incentives and job-creation results wi ...

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From Motown to TechTown

Much has been made in recent months about the gloomy economic landscape in Detroit. Based on double-digit unemployment statistics, Michigan and its auto-based economy have been at the epicenter of the Great Recession. We are pleased to report that the denizens of Motown are not wasting time dwelling on the drumbeat of bad news. They are busy laying the foundation for a Renaissance of economic development. N ...

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ESolar to Build Solar Thermal Plants in China

ESolar Inc., Pasadena, CA,  signed an agreement last week to build a series of solar thermal power plants in China with a total capacity of 2,000 megawatts. ESolar’s deal, one of the largest renewable energy projects to date, comes a few months after an Arizona company, First Solar, secured a contract to build a huge photovoltaic power plant in China. China is emerging as a major market for renewable energy ...

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Schulz Invests $300 Million in MS Pipe Plant

Wilh. Schulz GMBH has decided to locate a new $300-million seamless pipe manufacturing facility in Mississippi, Gov Haley Barbour and officials from Schulz announced on Monday. The company, a global supplier of piping components headquartered in Krefeld, Germany selected Tunica County, MS, as the location for its new pipe manufacturing plant. The company's Mississippi division, which will be known as Schulz ...

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Dubai Reaches for the Sky

Khalifa Bin Zayed, president of the United Arab Emirates and ruler of Abu Dhabi, no doubt was honored when Dubai decided to put his name on the tallest skyscraper in the universe. But President Zayed can be forgiven if he was somewhat distracted as the 168-story Burj Khalifa tower officially was opened this week. That’s because he was busy averting a new international financial crisis by bailing out Dubai t ...

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Parts Distribution Operation Locates in SC

The South Carolina Department of Commerce, Lexington County and the Central SC Alliance have announced that Husqvarna will locate a parts distribution operation in Lexington County. The company anticipates investing more than $2.5 million and will be the principal tenant in a newly constructed building. “We are pleased to move forward with our plans for the new parts distribution center in Lexington County. ...

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Crystal Ball 2010

  Here are some New Year's resolutions we'd like to see: -- The world’s largest wind turbine will be attached to the Washington Monument, facing the U.S. Capitol Building. -- Recapitalized banks which used TARP funds to pay back TARP funds so they could resume huge bonus payments to bank executives will request additional TARP funds. -- Citigroup bailout funds, stolen by Russian mob, will be used to pu ...

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Golf’s One-Man Stimulus Package

In the wake of golf superstar Tiger Woods' announcement that he is taking an indefinite leave from the sport, many are wondering if the impact will go beyond the leaderboard of golf scores and depress local economies at venues of major golf tournaments.If you think that is an exaggeration, consider this: the overall economic impact of golf is estimated at $75 billion. A major golf tournament can generate mo ...

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Chandra Puts Cable Plant in Kentucky

The India-based company is investing $32 million in a copper cable manufacturing facility in Morgantown. Gov. Steve Beshear of Kentucky, Cabinet for Economic Development representatives, and officials in Butler County have announced India-based Chandra Proteco Ltd. will start up a manufacturing operation in Morgantown under the name Kentucky Copper Inc. The new company will create 106 new jobs and invest ne ...

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