January / February 2024: The Awards Issue

Business Facilities' January / February 2024 issue features Texas, our 2023 State of the Year, along with winners of our Deal of the Year Awards. Plus, 2024 Top Utilities and more.

Business Facilities January / February 2024
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The January / February 2024 Issue


2023 State Of The Year: Texas | Opportunity for business in the Lone Star State has been fostered with prescient legislation and incentives, a skilled and ready workforce, and the freedom to innovate. Business Facilities also recognized 10 states with standout performance in 2023.

2023 Deal of the Year Awards | From North Carolina to Nevada, and from South Carolina to Virginia, the top four economic development deals recognized with this year’s awards promise to shape communities for years to come. In addition, the Impact Awards showcase investments in specific categories.


2024 Top Utilities | These power providers help keep the economies growing in their service areas, with innovative incentives, moves toward renewable energy, and other strategies.

New Jersey Governor’s Report | In the Garden State, Governor Phil Murphy has focused on the industries of tomorrow to generate the jobs of the future.


Cleared For Takeoff | The aerospace and defense industry continues a steady climb, and both traditional and emerging hubs offer assets companies are seeking.

Proper Planning Aids Shovel-Ready Site Development | Speed to market relies on numerous factors, and certified sites that are ready to welcome new business operations are key.

Moving Up, Around, And About | The presence of intermodal facilities is crucial to a company’s ability to reach suppliers and customers alike.

Data Centers Grow Despite Fears Of ‘Complete Halt’ | Robust growth in the data center market presents the challenge of finding available land and infrastructure.

Florida Continues To Outpace National Economic Trends | Governor Ron DeSantis credits the Sunshine State’s economic growth to strong infrastructure and local community development.

Texas Success Driven By “Hardworking Texans” | Governor Greg Abbott credits the Lone Star State’s residents — and economic development tools —for its top business ranking.

North Carolina: Partnership Drives Success | The Tar Heel State’s commitment to a top workforce, clean energy, and a favorable business climate are credited for its success.

Missouri Prioritizes Infrastructure, Workforce Development | Myriad companies have moved into communities around Kansas City, St. Louis, and Joplin over the past year.

New England Continues To See Economic Improvement | From tech to life sciences and manufacturing, this U.S. region is a haven for businesses from many sectors.


Nevada: To The Next Level | A five-year plan to chart the course for statewide economic growth is in motion.

Louisiana: Bayou State Continues Year-Over-Year Growth | The energy sector represents one facet of the state’s diversifying economy.

Wisconsin: Community, Business Leaders Bolster Badger State’s Economy | Collaboration at all levels has delivered growth for businesses of all shapes and sizes.


Q&A: Henderson, Nevada | This forward-thinking southern Nevada city is primed for the next wave of business.

Why…? Northwest Ohio | Location, workforce, and project-ready sites are spurring a regional renaissance for distribution operations, among other industries.


Michigan Welcomes ‘Risk-Takers,’ ‘Gritty Workers’ | Michigan has workforce programs in place to bring business to the state, and has seen continued success in the auto industry.

Indiana: Bold Moves For Bold Growth | Statewide initiatives continue momentum toward growing and diversifying the Hoosier State economy.

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Anne Cosgrove, Editorial Director, Business FacilitiesFIRST WORD

Building On 2023 Successes

Corporate relocation and expansion announcements were consistent— and often significant — in 2023. Following a 2022 during which companies from around the globe were assessing potential growth and making moves, the decisions to expand operations came from virtually all industries last year. Companies of all shapes and sizes seized the opportunity that U.S. federal government legislation presented, from electric vehicles to semiconductors and more. As executives temper decision-making in response to macroeconomic and geopolitical forces, this issue recognizes successes on the books with an eye on what’s next.

One of those success stories is Texas, which is recognized as Business Facilities’ 2023 State of the Year. With powerhouse capital investments and programs and incentives aimed at supporting new and existing business across the expansive state, the choice was clear this year.

Advantages for business exist in many locations, and that’s why Business Facilities also starts the year with our annual Deal of the Year Awards — Platinum, Gold, Silver, and Bronze. The top deal this year, based on judges’ input and our editors’ evaluations, is Toyota’s planned $8 billion expansion in Liberty, NC. The automaker plans to invest into its Greensboro-Randolph megasite to support electric vehicle battery production, with 3,000 jobs created in the coming years.

This year’s Gold, Silver, and Bronze 2023 Deals of the Year hail from Nevada, South Carolina, and Virginia, respectively. To recognize more notable projects and share those stories with you, our editors also chose the 3rd annual Deal of the Year Impact Awards that focus on a specific aspect of a relocation or expansion decision. Take a look at all these highlights of 2023, with an eye on what 2024 will bring.





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