Business Xpansion Journal: December 2023

2023-24 NATIONAL DIRECTORY

December 2023 | bxjmag.com

OF ECONOMIC DEVELOPERS

STAYING ON A FAST TRACK

FINTECH NEW APPLICATIONS GAINING MOMENTUM

INFORMATION TECHNOLOGY The (Positive) Disruptive Influence EXPANSION OPPORTUNITIES ARKANSAS | DELAWARE | WYOMING | NORTH DAKOTA | MONTANA

WE HAVE WHAT YOUR BUSINESS NEEDS TO SUCCEED Tax Incentives Business Resources Fiber Connectivity Interstate Access Designated Growth Areas 19 Million People Within 100 Miles

Business Associations Access to Higher Education 5 Sustainable Communities Educated & Trained Workforce Access to 3 International Airports & 3 Major Seaports 3 Designated Enterprise Zones

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KENTCOUNTY.COM/BUSINESS

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TABLE OF

CONTENTS

DECEMBER 2023

4

FEATURES INDUSTRY OUTLOOK: Why Data Centers Are Staying on a Fast Track System architects grapple with security, reliability, and massive data generation as data centers try to keep pace with demand

By David Hodes

ASSOCIATE PUBLISHER Alan Reyes-Guerra areyes@bxjmag.com 205-862-5175

EDITORIAL CONTRIBUTORS David Hodes

CREATIVE DIRECTOR

8

INNOVATION AND STRATEGIES: The (Positive) Disruptive Influence of Advanced Information Technology Today’s IT is helping streamline operations, improve business efficiencies, and challenge C-suites executives to manage the disruptive effects of new tech applications

By David Hodes

Clint Cabiness clint@dialedinmediagroup.com 205-613-5910 EDITORIAL OFFICE King Publishing, Inc. 1000 Stafford Court Birmingham, Alabama 35242 Tel: 205-862-5175 ONLINE MEDIA ASSISTANT

12

INDUSTRY INSIGHT: New Financial Technology Applications Gaining Momentum New targets – such as B2B players in the insurance industry – are becoming a more viable option for fintechs challenging banks status quo

Nick Boliek nick@dialedinmediagroup.com SUBSCRIPTION CHANGES & REQUESTS 205-862-5175 or www.bxjmag.com

By David Hodes

King Publishing, Inc., 1000 Stafford Court, Birmingham, AL 35242;

EXPANSION O P P O R T U N I T I E S 16 ARKANSAS:

You’re In Good Company

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20 DELAWARE:

America’s Corporate Capital

28 MONTANA:

Where Ideas Grow Into Opportunities

22 WYOMING:

Spend Less, Earn More

Business Xpansion Journal magazine are solely those of the author and advertiser, respectively. © Copyright 2023, King Publishing, Inc. All rights reserved. No partof this publication may be reproduced without written permission from the publisher.

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30 INDUSTRY N E W S

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The Highway to Investment Success Leads to Middlesex County Middlesex County offers a rich rural-urban landscape in the heart of southern Ontario complete with all the must haves for business is looking to establish or expand operations.

Companies prospecting for the optimal mix of location including attractive property pricing, and additional amenities, really strike it rich in Middlesex.

If your company relies on ‘on time’ delivery, you’ll appreciate access to three border crossings within a 2 hour drive. Our 401 and 402 series highways are vital in the moving of goods to destinations across the globe. Rail and air transport are available with both Canadian National and Canadian Pacific travelling through the County, and the London Ontario International Airport offering a central location for moving both cargo and people in and out of the region with ease. The County also sits within an hour’s drive of port access to the Great Lakes shipping channels.

Our honest, reliable workforce is the heartbeat of our County. We’re located within 62 miles of 6 Universities and 4 Colleges, making us a prime location for talent retention and attraction.

Middlesex County celebrates innovation and is home to local and multinational firms across the manufacturing sector including those in pharmaceutical, stormwater management, ag-tech, and automotive like Nortera Foods Inc., Gray Ridge Eggs, Catalent Pharma Solutions, Armatec Survivability, Goss Global, and Algonquin Bridge.

Short commutes, traffic that moves, fresh air, safe spaces, many active living options, and access to world-class healthcare are all just part of the Middlesex appeal. The county’s added rich offering of arts, entertainment and culture that create an amazing quality of life for families of all types.

www.investinmiddlesex.ca

INDUSTRY

OUTLOOK

DATA CENTERS

Why Data Centers Are Staying on a Fast Track BY: DAVID HODES

System architects grapple with security, reliability, and massive data generation as data centers try to keep pace with demand

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D

ata is everywhere, connecting everything and everyone. They are becoming part of the fabric of life for everyone and every business on (and off) the planet, with more and more data being generated daily. ..........................................................................................................................................

Data centers across the world are experiencing higher demand and broader use of data as the world continues to rely more and more heavily on anytime-access cloud-based storage.

According to Statista, a business resource and information firm, the U.S. leads the world with 5,375 data centers, followed by Germany with 522. Approximately 35 percent of all known hyperscale data centers worldwide are located in Virginia, according to the Virginia Economic Development Partnership, making it the area in the country with the most data centers. Dallas is second, followed by Silicon Valley.

In fourth place is the Phoenix area.

that, between 2017-2021, data centers added $2.1 trillion to the U.S. gross domestic product from direct, indirect, and induced effects over those four years.

One example of one company’s data center effect on the economy is Amazon.

Amazon operates data centers across three counties in Virginia that contribute $21.31 billion to local gross domestic product, providing nearly 17,000 local jobs.

More Data, Delivered Faster

(ABOVE) In 2019, Virginia had 186 data centers. Of those, 166 were concentrated in Loudoun, Fairfax, Prince William, and Fauquier counties. Virginia. Photo courtesy Virginia Economic Development Partnership.

(LEFT) Google’s data center in Inzai, Chiba Prefecture, Japan, started operations in March 2023. It’s part of a $730 million investment in infrastructure in Japan announced in October 2022. Photo courtesy of Google.

The largest U.S. data center is owned by Meta Platforms (Facebook). It’s a 4.6 million square feet facility in Prineville, Oregon. Meta is building 11 data centers at this campus as part of a more than $2 billion investment.

The world’s largest data center is China Telecom’s $3 billion Inner Mongolia Information Park, at 10,763,910 square feet.

Its cloud computing data center alone has a capacity of 50,000 servers.

It’s a non-stop proliferation cycle of data center development, fueled by more demand and expansion of new technologies

such as machine learning, autonomous operations, artificial intelligence and more that has crept into nearly every aspect of every business.

Serious Economic Drivers Data centers are serious economic drivers wherever they are located.

A 2017 report by the U.S. Chamber of Commerce found that data centers on average create $32.5 million in local economic activity each year.

The Data Center Coalition (DCC) found

Today, there are millions of terabytes of data stored in data centers required to be instantly available to users, buzzing around at data transfer speeds as fast as 100 gigabits a second.

But that level of data transmission is just a drop in the bucket compared to what is on the horizon.

In June, 2021 Japan researchers from the National Institute of Information and Communications Technology Network Research Institute recorded the fastest internet data speed of 319 terabits a second (or 319,000 gigabits a second).

The new record at the time was nearly double the previous record of 178 terabits per second set in 2020, and was demonstrated transmitting on a line of optical fibers more than 1,864 miles long.

It was compatible with modern-day cable infrastructure.

Then, in 2022, researchers at the Technical University of Denmark and the Chalmers University of Technology in Gothenburg, Sweden demonstrated a data transfer speed of 1,000 terabits a second (or 1 million gigabits a second) using an infrared laser process.

Data center architects are keeping an eye on even more data developments to come.

For example, the amount of global data generated by 2025 is estimated by Statista to be 200 zettabytes (a zettabyte is 1 billion terabytes and 1 trillion gigabytes), and data centers are going to have to continually evolve to accommodate the surging demand.

Data Center Trends Five of the data center trends include: 1. Edge computing, where data bxjmag.com

| DECEMBER 2023 | BXJ | 5

INDUSTRY

OUTLOOK

DATA CENTERS

The Meta data center in Altoona, Iowa just underwent its 7th expansion, on the way to a 5 million square foot build out by 2025. The data center represents a capital investment of more than $2.5 billion for the state. Picture courtesy Meta.

2.

3.

4.

5.

centers are being established closer to end-users to reduce data transfer signal delay (latency) and improve real-time processing.

The rise of hybrid and multi-cloud environments, where organizations move towards a hybrid or multi-cloud strategy, forcing data centers to support more and more complex infrastructure setups with updated systems architecture.

Green data centers, increasingly focusing on energy efficiency and sustainability, with technologies like liquid cooling and renewable energy sources gaining popularity.

AI and machine learning, being used to optimize data center operations, enhance security, and predict maintenance needs.

Software-defined everything. The software-defined data center is gaining ground, allowing for more flexibility, automation, and cost-efficiency.

Data Center Issues There are a host of issues cropping up as data centers continue on a fast track of development.

Investors want lower acquisition costs for leased facilities because higher interest rates are harming their ability to meet required return thresholds, according to a state of the market report

by Coldwell Banker Richard Ellis (CBRE), a real estate services and investment firm.

Data center providers and customers continue to secure land positions in strategic markets, with suitable site inventory scarcity causing buyers to get creative, resulting in bidding wars for offerings that meet established power and fiber profiles.

“Hotter” processors are already a reality, and a growing problem, according to a report by Uptime Institute Intelligence (UII), a business

6 | BXJ | DECEMBER 2023 | bxjmag.com

research company.

Intel’s latest server processor series, available since January, 2023, has thermal design power (TDP) ratings as high as 350 watts, with optional configuration to more than 400 watts, compared with 120 watts to 150 watts only 10 years ago. That means more cooling systems are needed, creating more energy usage.

There is also a fear that relying on a major cloud provider creates a single point of failure, not just technically but also from a business-risk perspective. Key customers of cloud computing are demanding a better view of their cloud suppliers’ infrastructure, and a better understanding of potential vulnerabilities, according to the UII report.

Keeping everything safe and secure in data storage and use is also a growing problem. “The weakest link at the end of the day continues to be this human interface at the endpoint,” Arun Vishwanath told BXJ. Vishwanath is the CTO of a cyber security research and advisory firm, Avant Research Group (ARG) in Buffalo, New York, and an expert for the National Security Agency’s Science of Security and Privacy directorate.

“The endpoint is not a technology, there’s always a person there.

Just like the endpoint is not the gun. It’s the user. It’s the same with technology. You can secure a computer as much as you want. But you have to secure the human,” he said.

The technology is still not perfect, and the perimeter is getting weaker. “The reasons the perimeter is getting weaker is because now we have more people and more technologies making inroads into (the data centers),” Vishwanath said.

The patterns of work have changed, and business is much more global. “A lot of these things are housed in data centers all over the world. So all of that combines into creating a highly dynamic environment where you have these organizations literally holding a

Fort Knox’s worth of data.. and everybody’s trying to push into it and pull out of it.

So ensuring that all of those pieces work together has always been the challenge, and it’s getting increasingly challenging as we move forward.”

Coming Soon – Data Centers in Space New ways of thinking about expanding data centers is emerging, such as warehouse-scale computers (WSCs), where the computing platforms that power cloud computing treat the data center itself as one massive computer designed at warehouse scale, with hardware and software working together to deliver improved levels of internet service performance.

According to published lecture about computer architecture based on input from Google computer engineers, WSCs currently power the services offered by companies such as Google, Amazon, Facebook, Microsoft, Alibaba, Tencent, Baidu, and others.

WSCs differ significantly from traditional data centers: they belong to a single organization, use a relatively homogeneous hardware and system software platform, and share a common systems management layer. “At one level, WSCs are simple—just

a few thousand servers connected via a local area network (LAN),” according to the published lecture. “In reality, building a cost-efficient massive-scale computing platform that has the necessary reliability and programmability requirements for the next generation of cloud-computing workloads is as difficult and stimulating a challenge as any other in computer systems today.”

Data centers may soon be located underwater in the ocean. Microsoft proved the feasibility of that idea in 2020 with a shipping-container-sized data center off the coast of Scotland. A sealed container on the ocean floor could provide ways to improve the overall reliability of data centers. It’s quick to deploy, it’s surrounded by a natural cooling system, and it matches data center sustainability goals around energy, waste and water.

There will even be data centers in space. Hewlett Packard Enterprise (HPE) launched Spaceborne Computer-2, the first in-space commercial edge computing and AI-enabled system, working in collaboration with the International Space Station National Laboratory. It was installed on the International Space Station in May, 2021.

As of April, 2022, the system had successfully completed 24 research experiments

involving real-time data processing and testing of new applications to prove reliability in space as part of an effort to increase faster access to data for astronauts.

According to HPE, the SBC-2 is part of a greater mission to advance computing and reduce dependence on communications, as humans travel farther into space to the Moon, Mars and beyond.

But there are issues with this approach as well. “The problem with many of these satellite-based communication channels, like GPS, is that it is a high trust network,” Vishwanath said. “One of the easiest things to spoof is GPS. So most people don’t realize this, but the reason our cars are able to drive is because it’s got an open connection with the GPS satellite system.

That open connection is unencrypted. And I can basically spoof a GPS signal and make you think that you have to go somewhere else, and you’ll not even realize it. This is something that state level operators know very well.”

Keeping data up in a satellite sounds like a great idea, Vishwanath said, but it’s the easiest to crack. “Conceptually, it sounds like a brilliant idea. But I think the operational reality is far too complicated to actually make happen.” X

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INNOVATIONS & STRATEGIES

INFORMATION TECHNOLOGY

The (Positive) Disruptive Influence of Advanced Information Technology BY: DAVID HODES

Today’s IT is helping streamline operations, improve business efficiencies, and challenge C-suites executives to manage the disruptive effects of new tech applications

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A

merica’s IT sector stands out as one of the country’s most strategically important advanced industries. ...........................................................................................................

According to a report from the Information Technology and Innovation Foundation (ITIF), “How the IT Sector Powers the U.S. Economy,” the IT sector is a job creator—not just in the IT sector itself, and not just for computer scientists and engineers, but also for non-college-educated workers, and as a force multiplier for job creation throughout the economy.

The U.S. IT sector includes industries such as computing, data storage and processing, IT components, information services, semiconductors, and software. The Bureau of Labor Statistics (BLS) reports that overall employment in computer and information technology occupations is projected to grow much faster than the average for all occupations from 2022 to 2032.

IT-based products and services also are deflationary, according to the ITIF report.

One example: IT played a central role in business innovation such as supply chain management that enabled Walmart to quickly duplicate its business operation and become a superstar firm which, based on a McKinsey Global Institute report, represents one-sixth of the productivity growth in the retail sector, growing from 9 percent of the market share in 1987 to 30 percent around 2000.

IT can reduce the costs of information transfer and monitoring, and improve decision-making and overall efficiency through either moving information to decision-makers, or moving decision rights to information.

For example, in 2002, CVS identified an issue within the prescription fulfillment process that caused high customer turnover but used IT to deploy and replicate a digital solution in its 4,000 nationwide pharmacies.

THE IT WORKERS OF TOMORROW

They have been getting significantly cheaper compared with the rest of the economy, while having an outsized impact on improving quality and boosting efficiency across all sectors.

THE IT TRANSFORMATIVE EFFECT How has information technology transformed business? A working paper by the National Bureau of Economic Research (NBER) noted that earlier theories linked IT with organizational and firm size in particular. For example, IT can substitute labor in production through automation and can lead to a smaller average firm size. It can allow firms to expand production, increase sales and aggregated employment.

According to the NBER report, there has been a significant increase in average firm size in the U.S. as a result, especially in finance, real estate, retail, and services sectors, suggesting that lowering internal coordinating cost and/or enhancing productivity with market expansion have been the dominant effects of IT in recent years.

A research note from a Stanford University paper found that new IT technologies, such as cloud computing and machine learning, make measuring IT based on physical IT capital less reliable. “The measurement of firm’s IT sophistication and IT productivity has thus become even harder than it already was,” the note reported.

“IT-complementary skills and human capital have become more important as well, and we argue that firms’ demands for them is an important component of firms’ IT sophistication.”

IT requires complementary physical and human capital, as well as organizational changes and managerial practices, to be used productively, according to the report.

So who are these workers, and what can they expect to earn?

A study by the Burning Glass Institute (BGI)/Business Higher Education Forum (BHEF) identifies four of the fastest growing, most disruptive, highest demand skill sets: Artificial intelligence/machine learning, cloud computing, product management, and social media.

“These skills are moving from Silicon Valley to Main Street,” the study concluded. “One in five manufacturing jobs and one in four utilities jobs are being affected by these clusters of skills. They are migrating across occupations and industries, as well as geographically, so workers in these jobs are less narrowly concentrated in sectors and can be found in a greater diversity of regions throughout the country.”

A few years ago, new skills tended to be concentrated in the tech sector. In 2011, for instance, there were 294,000 job posts seeking people with data analysis skills in only 17 occupations, according to the study. But in 2021, 1.2 million such jobs were posted in 81 occupations.

Many of the skills are spreading to existing jobs, where workers are having to learn and apply them. But the spread is also happening in new occupations being created by these evolving skills.

High demand cloud skills—for example, looking for people with Microsoft Azure capability—accounted for nearly a half million job postings from over 23,000 firms in 2022.

That number of postings represented 65 percent significant increase from 2019, according to BGI. One of the most in-demand job skills, with the most severe bxjmag.com

| DECEMBER 2023 | BXJ | 9

INNOVATIONS & STRATEGIES

INFORMATION TECHNOLOGY

shortage of workers, is the data scientist, and basically any skill related to machine learning/artificial intelligence.

The BLS reported that about 377,500 openings in IT jobs are projected each year, on average, in these occupations due to employment growth and the need to replace workers who leave the occupations permanently.

The median annual wage for this group was $100,530 in May, 2022, which was higher than the median annual wage for all occupations ($46,310). Top earners in this category (computer and information research scientists) had a median pay of $136,620 in 2022.

BUILDING THE HIGH-DEMAND WORKFORCE Though educational systems have been slow in responding to the fast-growing need for IT workers, many have stepped up in the last decade, including some IT-based companies.

• The Cyber Tech Academy is offered by San Diego State University. Students can get certifications in artificial intelligence for cyber security, cloud security and governance, cyber governance and risk management, cyber security in health care, and ethical hacking.

• Google offers certification programs on cyber security, data analytics, digital marketing and e-commerce, IT support, project management, and UX design (user experience design).

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•

The University of Texas-Austin’s McCombs School of Business offers post graduate programs in data science and business analytics.

Cornell, Penn State, Stanford, Harvard, Yale, the California Institute of Arts and Technology and many other higher education institutions in the U.S. now offer both BAs, MAs and certificate programs in IT.

NEXT STEPS The IT game-changing is spreading—and savvy business developers are paying attention.

Research published in the Harvard Business Review showed that companies are looking to move about 60% of their IT estate to the cloud by 2025. More than 50% of companies report they’ve adopted AI in at least one function in their business. “Right now, companies have a can’t-miss opportunity to ramp up their cloud ambitions: as tech companies limit head-count and eliminate programs, top talent—not just the bottom 20% performers—are coming on the job market,” the HBR research reported. “While many of them are being snapped up quickly, companies should think through how to move quickly when cloud talent becomes available so they can take a big step forward in their cloud capabilities.”

THE FUTURE OF IT-BASED INNOVATION

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Their Strategic Economic Services department looks forward to working with you to discuss economic development in the Phoenix metropolitan area. For more information, please visit www.powertogrowphx.com or call Karla Moran at 602-236-2396 or email karla.moran@srpnet.com .

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| DECEMBER 2023 | BXJ | 11

S I D E B A R

Much of the discussion about information technology is about how current IT applications will evolve into future applications.

A McKinsey article, “Tech at the Edge: Trends reshaping the future of IT and business,” identified interconnected tech trends that are shaping the future of IT. Among them are innovation at the edge.

It is estimated that 70 percent of companies will employ hybrid or multi-cloud management technologies, tools, and processes.

5G will deliver network speeds that are about ten times faster than current speeds, with expectations of speeds that are up to 100 times faster.

Another trend being studied is that, by 2024, more than 50 percent of user touches will be augmented by AI-driven speech, written word, or computer-vision algorithms.

These technologies promise access to virtually unlimited compute power and massive data sets, as well as a huge leap in bandwidth at low cost, making it cheaper and easier to test, launch, and scale innovations quickly. The resulting acceleration in innovation will mean that companies can expect more disruptions from more sources.

IT has created a perpetual learning curve. By 2025, it is estimated that 50 billion devices will be connected to the Industrial Internet of Things (IIoT), while 70 percent of manufacturers are expected to be using digital twins regularly (by 2022).

There is also the rise of IT as a service. The global cloud microservices platform market will generate $4.2 billion in revenue by 2028, up from $952 million in 2020 (Microservices are an architectural and organizational approach to software development where software is composed of small independent services that communicate over well-defined APIs. These services are owned by small, self-contained teams.)

GitHub has more than 200 million code repositories and expects 100 million software developers by 2025. And nearly 90 percent of developers already use APIs. Software sourced by companies from cloud-service platforms, open repositories, and software as a service (SaaS) is growing at an

annual rate of 27.5 percent from 2021 to 2028.

This proliferation of technological innovations, with IT at the heart, means more progress in the next decade than in the past 100 years combined, according to entrepreneur and futurist Peter Diamandis, founder of the XPrize Foundation which offers big cash prizes as an incentive for tech solutions.

Diamandis pointed out that venture capital, the traditional source of startup capital that has helped build household names from Apple and Google, to Amazon and Uber, was at an all-time high of $330 billion for funding startups in 2021.

This record sum was double the $166.6 billion invested in 2020. “Any way you slice it, this era of unprecedented capital abundance is massively accelerating innovation and funding crazy ideas and Moonshots,” he wrote on his blog. X

INDUSTRY INSIGHT

FINTECH

New Financial Technology Applications Gaining Momentum

BY D AVI D HO D E S

New targets – such as B2B players in the insurance industry – are becoming a more viable option for fintechs challenging banks status quo

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A

s more traditional banks collect data on their customers, and other non-bank businesses get into the business of managing money, there has been a rise of the open-banking system. ...............................................................................................................................

Open banking is a banking practice at the heart of the financial technology (fintech) revolution playing out across the country—and the world—that provides third-party financial service providers open access to consumer banking, transaction, and other financial data from banks and non-bank financial institutions through the use of application programming interfaces (APIs).

“Open banking is becoming a major source of innovation that is poised to reshape the banking industry,” Investopedia researchers, a financial information company, concluded. “Open banking will force large, established banks to be more competitive with smaller and newer banks, ideally resulting in lower costs, better technology, and better customer service. Established banks will have to do things in new ways that they

For example, in mortgage underwriting, sharing borrowers’ data, which are siloed and manually aggregated, allows standard mortgages to go through automated underwriting, reducing operating costs and speeding up the lending timeline, according to the McKinsey study.

INSURETECH

are not currently set up to handle, and spend money to adopt new technology.”

TRUST FUELING ONGOING USE Open banking relies on consumer trust about access to their personal information.

In a key finding by Visa Analytics, consumers typically view financial institutions as the most responsible actors to manage data. But banks do need to carefully consider data privacy concerns and ensure they have the right data access, governance and principles in place, according to the Visa research.

A study by McKinsey Global Institute found that fintech companies and nontraditional financial services players have taken the lead in financial data sharing in many countries, seeing it as a way to achieve a breakthrough in serving customer needs with new financial products and services offerings.

Then there is the insurance industry. There was a rush of insurance brokerage acquisitions by banks earlier this century to improve their revenue generation by providing other financial services to customers. But it didn’t last.

In fact, this year, there have been more divestitures of insurance brokerages by banks than acquisition, according to Marsh-Berry, an Ohio-based insurance distribution and wealth management firm.

One newer way that open banking and fintech can increase market penetration for their services is through “insuretech”, or using fintech applications to help streamline operations.

The global insurance industry is massive, earning $7 trillion in revenues in 2021, and is projected to grow to $11.6 trillion by 2030, according to a May, 2023 global financial institutions report from Boston Consulting Group (BCG).

Of the three main sub-segments of insurance—life, property and casualty (P&C), and health—the largest window for fintechs lies with P&C, as these products are mostly bought by individuals, have a shorter duration of purchase, and have a higher frequency of policies (such as in home rental and auto insurance).

Life insurance is the most difficult to penetrate, as durations can last more than 30 years, while health insurance is typically bought by employers rather than by the individual.

There are also many difficult regulatory hurdles to overcome with insurance. And it has a lower level of profitability than the banking industry does.

“Fintech started first,” Rob Galbraith told BXJ. Galbraith is the founder and CEO of Forestview Insights based in San Antonio, an independent consulting, research and training company. He is also the author of the international bestselling book “The End Of Insurance As We Know It.” “So I think from an opportunity standpoint, particularly from technologists, entrepreneurs, outside investors, and VCs, they looked at the insurance industry and saw an industry that was massive, unloved—meaning no brand loyalty—and unspoiled by innovation, to quote Dan Schreiber, the founder and CEO of Lemonade, Inc. (which is an insurance company offering insurance powered by artificial intelligence and behavioral economics),” he said. “I tell people that, actually, I think there’s a big misnomer about insurance and technology because people believe that it’s slow to adopt, where it’s actually an early adopter of technology. But that technology was in the 1960s and 1970s. So it’s kind of built on a foundation of mainframe computing that can handle a lot of bulk processing.”

Insuretech is a scaled emerging technology, Galbraith said, with the word scale being an acronym for sensors, cloud, bxjmag.com

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INDUSTRY INSIGHT

FINTECH

artificial intelligence, and localized knowledge. “These are things like improving back office efficiencies that also leads to better customer experiences. So rarely do you get to save money on your expenses and improve customer service at the same time. But we’re kind of in a unique time where you can do robotic process automation, natural language processing, understanding a whole variety of technologies, and then digital distribution and communication, and being able to sell a product online rather than face to face.”

Galbraith said that it’s hard to get a precise definition of insurtech.

“But it’s really emerging technologies used in novel ways that haven’t been tried before, to the benefit of customers and insurance entities.”

There’s less guesswork, resulting in financial savings for the insurance customer. With such technologies as telematics (a combination of telecommunications and informatics that store and receive information from cars over a network), he said, an insurance company doesn’t actually need to rely on the age, gender or marital status of drivers. “An insurance company can directly observe, through data captured from the vehicle, how someone drives, and

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then adjust their rating algorithm,” Galbraith said.

Insuretech processes open up the possibility of lowering the costs for traditional products, and then offering brand new products that could have never been sold before, he said. “So we see things like getting insurance for an Amazon package getting stolen off of a porch, for example.”

It’s actually a paradigm shift, he said. “With a lot of new artificial intelligence and big data and statistical models, there’s a whole lot more that you can do. But it needs to be proven out. Then once the insurance company is comfortable with using a kind of new modeling with new techniques, they need to get regulator approval,” Galbraith said. “Insurance is regulated at the state level. So it’s not just one regulator, but it’s all the jurisdictions. So unfortunately, it’s very reactive. And it’s going to be a challenge to actually trickle down to reflect (insurtech benefits) in the pricing.”

WHAT’S NEXT? Traditional fintechs have now become mainstream in certain

segments, especially payments and transaction banking, which have been fundamentally transformed by players such as Stripe, Square, Alipay, and a few others.

Today, there are roughly 32,000 fintechs globally. Over the past decade, fintechs have attracted more than $500 billion in funding.

But they have been experiencing a serious decline since early 2022 that financial experts say is merely a correction. Of the roughly 85 public fintechs BCG analyzed across all regions and segments in 2022, less than half (45%) were profitable. But the report also signaled a rebound to come.. if..

“The goal for fintechs is to become vertical champions, utilizing additional distribution channels, opening new revenue streams, and providing end-to-end customer journeys,” the BCG report concluded.

“The basics matter, such as product-to-market fit. Fintechs without a clear thesis are now getting weeded out. They must realize that, fundamentally, it is important to have a ‘product-to-solve-pain-point’ mindset first and foremost, as well as a critical feature set, a reliable go-to-market strategy, and a rising lifetime value (LTV) to consumer acquisition cost (CAC) ratio. New initiatives should be customer-led and capable of solving a true ‘point of friction’—otherwise they simply won’t succeed.”

peer-to-peer payments, and an associated checking account.

Google killed Plex in October, 2021.

According to a Forbes article about Plex, resistance to Plex from Bank of America, JPMorgan Chase, Wells Fargo, and a handful of other large regional banks may have been enough to convince Google to back off.

The Wall Street Journal reported that a Google spokeswoman said the company would now focus primarily on “delivering digital enablement for banks and other financial services providers rather than us serving as the provider of these services.”

There is light at the end of the tunnel. A separate McKinsey report found that revenues in the fintech industry are expected to grow almost three times faster than those in the traditional banking sector between 2022 and 2028.

Compared with the 6 percent annual revenue growth for traditional banking, fintechs could post annual revenue growth of 15 percent over the next five years. X

FINTECH STILL AN UPHILL CLIMB Open financial data could put powerful non-bank companies in a stronger position to become financial-services players, according to a 2021 McKinsey article published on their website. “We believe that if open finance continues to accelerate it could reshape the global financial services ecosystem, change the very idea of banking, and increase pressure on incumbent banks,” the Mckinsey article concluded.

But there are growing pains for fintechs, in part related to the wary partnership with traditional banking enterprises who view fintech as a threat because of its customer-centric structure.

A recent survey by Price Waterhouse found that as much as 76 percent of banking respondents fear some part of their business is at risk from fintech.

“Cooperation between traditional banks and new entrants is important, but agreeing on optimal ways of working can take time,” the survey reported.

“Leveraging legacy banks’ customer reach and regulatory prowess could allow fintechs to focus on what they do best – meeting 21st century customer needs in new and creative ways.”

One example of a fintech-traditional bank collision that didn’t work out: Google’s Plex product.

Google announced Plex in November, 2019.

It was connected to the Google Pay app, offered in partnership with 11 banks and credit unions and included physical and virtual debit cards,

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ARKANSAS:

Photo by Marlon Reyes on Unsplash

You're In Good Company

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ith a location halfway between Mexico City and Montreal, Arkansas offers access to a market of 100 million people within a 550-mile radius of the state – about 40 percent of the total population. Arkansas’ transportation network is ideally suited to meet the needs of business and provides easy access to U.S. markets around the world. Highlights include 1,000 miles of navigable waterways, 1,683 miles of Class I railroads, and 16, 416 miles of state and U.S. highways.

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Major commercial airports are located in Central and Northwest Arkansas: The Bill and Hillary Clinton National Airport offers 120+ flight arrivals and departures each day, with non-stop jet service to 14 national/international gateway cities on nearly 50 flights each day.

Arkansas has taken steps to remove any bureaucratic burdens that hinder startup, relocation, and expansion processes. The Arkansas Economic Development Commission established a “single point of contact” system to help prospects do business with ease. Their Business Development team acts as a liaison between companies, communities, and other stakeholders to ensure the site selection process is successful. Executives appreciate the ease of doing business in Arkansas. Companies like Walmart, Frito-Lay, Dillard’s, Stephens, Amazon, and Hytrol are experiencing success and growth in the Natural State.

Most recently, RTX, in partnership with Rafael Advanced Defense Systems, announced they will build an new $33 million manufacturing facility in East Camden, Arkansas. The facility will produce the Tamir missile for the Iron 16 | BXJ | DECEMBER 2023 | bxjmag.com

Dome Weapon System and its U.S. variant, the SkyHunter missile to be used

by U.S. Marine Corps and our allies.

A newly formed company, Hybar LLC, announced it has started construction on its technologically advanced, environmentally sustainable scrap metal recycling steel rebar mill project in Mississippi County, furthering Arkansas’ leadership position as home to North America’s most advanced and environmentally sustainable steel-making facilities.

Arkansas knows the food and agribusiness industry. They’re home to Tyson Foods, one of the world’s largest food companies, and manufacturing facilities for some of top companies in the industry, including PepsiCo, Nestle, JBS USA, Kraft Heinz, and many others.

Arkansas is also an agricultural leader, producing 49% of all the rice in the U.S. In the technology sector, Arkansas is rising. With the third-lowest cost of living in the country and business incentives for technologybased organizations, the state is attracting companies from around the world and bringing in a skilled workforce to fill high-tech jobs in cybersecurity, fintech, retail, supply chain and more..

For more information, please contact the Arkansas Economic Development Commission at 1-800-ARKANSAS or visit www.Arkansasaedc.com

ARKANSAS: Camden

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The historic town of Camden is located on the Ouachita River in the heart of the Arkansas’ timber basket in South Central

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Arkansas. Steeped in its heritage Camden offers plenty of exciting opportunities for the history buff or outdoor enthusiast. From their historic national registry properties including the McCollum Chidester House, to their nearby state parks-White Oak Lake and Poison Spring, Camden has plenty to see and do. Rich in Civil War history because of the Battle of Poison Spring, Camden also is home to one of the few remaining historic Freedman Bureau offices in existence. Hunting and fishing are favorite pastimes in their area.

If you prefer-take in a round of golf, a tennis match or simply a walk or bike ride on “The Trace”.

Their community offers some of the best restaurant possibilities in South Arkansas, from upscale dining at the Postmasters Grill, a restored historic post office, to Native Dog Brewing, a locally owned brew pub with a view of the Ouachita River.

Volunteers enjoy working with their local festivals which include the annual Daffodil festival, Barn Sale Craft Fair and First Fridays downtown street festival.

The South Arkansas Intermodal Park in Camden is the regional distribution hub for South Arkansas. Intermodal facilities include: warehousing, land leasing, and rail interchange with two Class I Railroads-the BNSF Railway and Union Pacific Railroad. The Camden & Southern Railroad is the onsite shortline railroad providing loading/unloading services and railcar switching in the park.

Camden is proud of its Aerospace & Defense industry base which touts notable industries such as: Lockheed Martin, Aerojet Rocketdyne, General Dynamics, and Raytheon.

SAU Tech provides two-year associate degrees and partners with local industry on workforce training.

Ouachita County Medical Center offers excellent health care for their residents with a heart Cath lab, chemical dependency unit, ICU and ER in a setting recognized as one of Arkansas safest hospitals.

ARKANSAS: Clarksville - Catalyst For Economic Growth

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Clarksville’s mission is to be a catalyst for economic growth and maximize their communities’ unique resources to aggressively recruit jobs and capital investment to the area.

Arkansas is a Right-To-Work state and there is no union presence 18 | BXJ | DECEMBER 2023 | bxjmag.com

in Clarksville. Clarksville offers a 10,000 square-foot Vo-Tech Training Center, new market tax credits and Opportunity Zones.

From Denver to Atlanta, and Chicago to New Orleans, Clarksville is within a day’s trip of many major cities across the United States. Clarksville’s traffic continues to grow steadily due to its close proximity to I-40 and internal expansion. With Fort Smith an hour to the west and Russellville a half-hour to the east, they accommodate many interstate travelers as well as commercial vehicles. While Clarksville has a robust daily traffic count, it does not experience traffic congestion, which makes it a hot spot for transportation and logistics industries. Arkansas is a regional hub for logistics and distribution industries. Located on Interstate 40, otherwise known as “America’s Main Street”, Clarksville is one of the most geographically strategic places in the United States.

Their most common trade partners include Texas, Mississippi, and Oklahoma.

The economy of Clarksville employs over 4,000 people. The largest industries are manufacturing, retail trade, and educational services, and the highest paying industries are finance & insurance, real estate, rental leasing, and utilities.

The largest university in Clarksville is the University of the Ozarks, a private, 4-year liberal arts institution. The University of the Ozarks as ranked #7 in Regional Colleges South and offers more than 30 academic areas. Within a 60-mile radius of Clarksville, there are multiple higher-education institutions which include Arkansas Tech, University of Arkansas Fayetteville, University of Arkansas Fort Smith, Hendrix College, and University of Central Arkansas.

Low regulations, low cost of labor, excellent colleges and universities, and a customized approach to incentives facilitates their growing economy. For more information, please contact Clarksville Economic Development at 479-754-6486 or visit www.clarksvillear.gov X

BUILDING SIZE: Manufacturing/Warehouse: 365,000 SF Office: 5,000 SF Total: 370,000 SF ACREAGE: 40.87 acres NUMBER OF BUILDINGS: One single story fully airconditioned facility CONSTRUCTION DATE: Constructed in 1974 with expansions in the 90’s and 2000’s BUILDING DIMENSIONS: 826’ x 448’ PROPERTY CONDITION: Excellent

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larksville is a superior logistics hub for distribution and interstate transportation with close proximity to Interstate 40, the Arkansas River, a municipal airport, and a Union Pacific Railroad. The 370,000 SF facility is located 0.5 miles from Interstate 40.

CONSTRUCTION: Floors: Predominantly 6”, but some 8” Walls: Combination of concrete tilt wall and insulated metal Roof: Built up roof with TPO and Membrane surface Columns: Steel I Beam and circular steel CEILING HEIGHTS: 20’-43’ clear (predominantly 20’-22’ clear) COLUMN SPACING: Predominantly 40’x40’; some areas 40’x42’ LIGHTING: Lighting supplied throughout the manufacturing and warehouse areas with a combination of T-8 fluorescent lighting and some LED lighting

Clarksville, the seat of Johnson County, is a City of the First Class with a population of approximately 10,000 residents.

Clarksville’s Labor shed encompasses a six-county population of 175,000.

Over 22% of the Clarksville workforce is oriented toward manufacturing.

CONTACT: J Holmes Davis IV Senior Vice President / Partner 214.763.3700 (M) hdavis@binswanger.com www.binswanger.com

Clarksville’s overall cost of living index was 70.8, based on a national index of 100. This means Clarksville’s Cost of living is 30% lower than the national average.

This contributes to affordable housing and low cost of labor.

CLARKSVILLE ECONOMIC DEVELOPMENT OFFICE Steve Houserman | O: (479) 754-6486 | C: (518) 775-8712 Email: SHouserman@clarksvillear.gov Address: 205 Walnut St, Clarksville, AR 72830

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DELAWARE:

Photo by Gary Cole on Unsplash

America's Corporate Capital

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ith Forbes ranking Delaware as the state with the second-lowest business costs in America, this state is a game-changing location for companies choosing to operate on the East Coast. Delaware’s cost of business is 25 percent below the national average. In a high-cost region like the Northeast, that makes a big difference. Delaware is home to a highly attractive economic environment where today’s companies excel. Here, they merge an accessible and willing government with a low cost of doing business and powerful legal, governing, and corporate tax regulations that make Delaware one of the best places to 20 | BXJ | DECEMBER 2023 | bxjmag.com

incorporate your business and strategically position your company. .........................................................................................

Delaware is an excellent state for business taxes. The state has no sales tax, no personal property tax, and no value-added tax (VAT). Delaware has a corporate income tax rate of 8.7%, one of the more competitive rates in the Mid-Atlantic, and transitioned to single sales factor apportionment, which rewards companies for investing in Delaware and reduces the tax liabilities of businesses that have significant property and payroll in the state.

For more information, contact the Delaware Prosperity Partnership at 302-924-8871 or visit www.choosedelaware.com .

DELAWARE: Wilmington - Be In The Middle Of It All

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Welcome to America’s corporate capital. Half the publicly traded U.S. corporations are chartered in Delaware, including 66% of FORTUNE 500 companies. That alone should give you a pretty good idea of how business-friendly this state is. The best way to take advantage of their pro-business environment is to not only charter here but to actually be here – right in the middle of it all in Wilmington, Delaware.

Wilmington sits right in the middle of the U.S.’s Northeast Corridor, roughly equidistant from Washington, D.C. and New York City, within easy reach of everything essential to business success. About one out of every three Americans – a massive market of over 100,000,000 people, live within a 350-mile radius of Wilmington.

The country’s most important north-south route, Interstate 95, runs right by Wilmington, minutes from downtown.

Executives catch high-speed passenger trains at their convenient Amtrak station. Wilmington Airport, just 5 miles south of town, is a major hub for corporate and other private aircraft, and Philadelphia International Airport is just a 25-minute drive. For transporting goods, you’ll have the advantage of access to the

nearby deepwater Port of Wilmington, which handles over 600 ships and five million tons of cargo each year.

Over the years, Wilmington has established an excellent tax climate for businesses. Their cost of business is just 90% of the national average. Corporate net income is 8.7%; equipment tax is 0%; sales tax is 0%; and historic tax credits are available.

Wilmington understands business needs and how to meet them. For more information, please contact the office of Economic Development at 302-576-2120 or visit www.choosewilmingtonde.org X

The City of Wilmington, Delaware

BE IN THE MIDDLE OF IT ALL • In the Middle of the U.S.’s Northeast Corridor, roughly equidistant from Washington, D.C. and New York City • Business Friendly – 66% of Fortune 500 Companies • 0% Sales Tax, Corp Net Income 8.7% • I-95 runs through Wilmington • Biden Amtrak Station, Port of Wilmington • Easy access to airports in Philadelphia and New Castle

www.ChooseWilmingtonDE.org

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WYOMING:

Photo by Pete Alexopoulos on Unsplash

Spend Less, Earn More

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anked as the nation’s “Most Business-Friendly Tax Climate” by Tax Foundation since 2013, plus outstanding transportation options, top-ranked broadband connectivity, well-funded public education, safe neighborhoods, and abundant outdoor space and recreation opportunities, Wyoming businesses and people thrive. ......................................................................................

In Wyoming, you can spend less and earn more. There is no corporate state income tax; no personal state income tax; no inventory tax; no franchise tax; no occupation tax; no valueadded tax; and Wyoming’s sales tax is 4%, with counties electing up to 3% additional.

Wyoming recognizes that people are what make businesses successful, and the state is committed to investing in its current and future workforce needs. This includes free statewide jobmatching system, Wyoming at Work; specialized recruitment and screening services at Workforce Centers across the state; and Workforce Development Training Fund grants provide $4,000-$5,000 per trainee per fiscal year for new positions, skill upgrades, or re-training.

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Transportation and logistics also play a major role in business. Strategically located, many routes lead to, through and from Wyoming. A total of 915 miles of interstate crisscross Wyoming. Interstate 15 connects to Los Angeles and Canada and is accessible via I-80 or I-90. Wyoming features 10 commercial airports with final destination service to major cities around the world. Three international airports border the state in Denver, Salt Lake City, and Billings, Montana.

Wyoming has a diverse profile of businesses within the agricultural industry. From beef and lamb producers to local brewers, distillers and coffee roasters, rural communities support these thriving businesses. Local farmers now grow hemp, helping to diversify the production and value-added ag economy.

With an abundance of natural resources, Wyoming is known as the “Energy State.” Wyoming consistently ranks high in traditional, emerging, and renewable energy sources, including wind. Other target industries in Wyoming include blockchain technology; data centers and IT; manufacturing; outdoor recreation; carbon capture; and DAC technology.

For more information on Wyoming and its opportunities, please contact the Wyoming Business Council at 307-777-2800 or visit www.wyomingbusiness.org

WYOMING: Casper is the Heart of the New West.............. ............................................

Wyoming may be lacking in population, but not in immense beauty and opportunity.

In the heart of Wyoming, you’ll discover Casper - the second largest city in the Cowboy State. Casper is loved by locals for its safe and friendly community, vibrant culture, and accessibility. Located in Central Wyoming, Casper has become a hub for creating, connecting, and thriving in business and beyond.

“Casper is the true Wyoming experiment as the city capitalizes on the unique assets that have long set it apart from other places in Wyoming,” said Justin Farley, CEO of Advance Casper. “Being the regional rail, air, and freight hub encourages local manufacturers and distributors to not only open their markets to wider audiences, but to lead the state to diverse industrial opportunities like: film, aerospace, technology, defense, and biomedical innovation.” Beyond a rich business landscape, Casper boasts

unparalleled outdoor adventure, an up-andcoming foodie scene, and entertainment essential to the town’s vibrant spirit.

In Wyoming, diversifying the economy has been at the forefront of strategy. With accessibility to local, state, and federal delegates, the business community has more power to drive the conversation and write the narrative. Better yet, Casper offers a favorable business tax environment with 0% personal and corporate income taxes and a minimal 5% local business tax. Assets like: the only Foreign Trade Zone in the state, a well-positioned Qualified Opportunity Zone, a flexible, highly skilled workforce, and a robust entrepreneurial environment makes Casper a stand out home for business and family.

WHERE DO BUSINESSES START?

Advance Casper, Natrona County’s Economic Development Organization is the primary resource for businesses looking to grow, move, and sustain in Casper. Copious opportunities and public-private partnerships make economic development accessible and welcoming for the community.

Advance Casper has identified three barriers businesses face in the early stages of development and relocation. As an organization, they participate in eliminating those barriers and empowering business for the future.

First, Wyoming as a state, is preoccupied with extractive industries like oil and natural gas. “By introducing new sectors like: defense, aerospace, technology, and biomedical; Casper would experience workforce and manufacturing crossover, generational workforce retention, and the ability to compete in national proposals,” said Farley. In addition, the logistics to deliver components and finished products under the Foreign Trade Zone designation would be cost effective for the contractor and strengthen Wyoming’s economy in the long term.

Secondly, “Access to capital for early stage businesses may be a challenge nationally, but Advance Casper houses the Invest307 equity crowdfunding platform which connects investors to local business projects - keeping the money and investments local. Businesses looking to grow can submit project

INNOVATION MEETS THE NEW WEST IN CASPER, WYOMING City Living With a Rural Advantage Casper has: the only Foreign Trade Zone in the state, a stable manufacturing and distribution hub, a thriving BioMed & BioTech entrepreneurial industry, progressive industry diversification into Aerospace & Defense, and so much more. From a diverse workforce and move-in ready sites to no corporate or personal income taxes; Casper holds opportunity in wide-open spaces.

Justin Farley, CEO justin@advancecasper.com (307) 577 - 7011 ChooseCPR.com

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proposals for local investors to participate in, building momentum and attracting larger audiences for their product or service,” says Farley. “Breakthrough 307, the only organized angel fund in Wyoming, helps high-growth companies with early-stage funding. Through a series of vetting procedures, companies who prove viable become investment companies through Breakthrough 307.” Advance Casper is a participating investor.

Lastly, Advance Casper is active in unifying community resources that expand Casper’s economic base. Their concierge style services provide site selection, incentives, workforce determination, and infrastructure details so businesses have the relevant information at their fingertips. Advance Casper advocates and assists on the behalf of the businesses regarding licensing and permits to help companies make an impact faster. The organization also maintains active involvement with Casper College (Central Wyoming’s most comprehensive community college) in terms of degree offerings that align with community and business needs, bolstering the workforce pipeline for local businesses and residents.

Finally, Advance Casper’s partnership with Visit Casper, the visitor bureau, helps support the local tourism and hospitality industry which is crucial to the community. Visit Casper’s efforts to roll out Film Casper will provide: vendor, crew, location, and permitting information making it easy for production companies to film locally.

As business and innovation expand, Casper provides the opportunity to not only do business differently, but to be a part of a supportive and driven community. Don’t be fooled by Casper’s small

CHEYENNE

WYOMING

A great place to grow your business

and love your life.

The #1 most business-friendly tax climate in the US 90 minutes from Denver International Airport Crossroads of I-25 and I-80 An abundance of shovel ready business parks

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city feel. Its mountain town culture, western hospitality, and unique assets keep it very much alive. Creating, connecting, and constructing a pipeline continually reinforce why Casper makes business sense.

Because Casper is business driven, community inspired.

To learn more please visit advancecasper.com or local information site ChooseCPR.com.

WYOMING: Cheyenne

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Catchy headlines like "Open for Business" and "Business-friendly" litter the economic development landscape. But the one phrase that is a staple of every community's marketing plan is "Quality of Life," and for good reason. Research shows that people are choosing where to live based on amenities more than the availability of jobs, as once was the case. But what really creates an overall state of happiness, health, and life satisfaction? Is it a low-stress lifestyle? Is it access to a lively downtown with abundant shopping, restaurants, and breweries? Is it access to a good education and schools for children? Is it a safe and involved community? Is it all the above, and more? To complicate the question, everyone is re-evaluating what it takes to reach this place, feeling, or ideal situation. Like never before, individuals, and companies, are looking at their lives and the lives of their families, and many are re-defining what quality of life means to them.

Cheyenne, Wyoming, was one location noticing these changes taking place across the country. Cheyenne located just 90 miles north of Denver, Colorado, has always celebrated their abundant resources and unique lifestyle. Still, suddenly, they aren’t the only ones interested in what is happening in their state.

Companies are suddenly looking to leave more restrictive states are calling Cheyenne LEADS, the economic development organization for Cheyenne and Laramie County. Site selectors, developers and businesses owners are nothing the large distribution centers, manufacturing facilities, and data centers already calling Cheyenne home. It’s not uncommon to hear that they had no idea all the great things happening in the Midwest state.

Businesses discovered that Cheyenne offered shovel-ready business parks that allowed them space to grow and succeed, exceptional transportation options, and top-ranked broadband connectivity.

If that wasn't enough, they learned that their company and their employees would keep more of their money because Wyoming doesn't have Personal or Corporate Income Tax, an Inventory Tax, Sales Tax on manufacturing equipment, sales tax on electricity and gas used in the manufacturing process, and a low sales tax of just six percent. In fact, Wyoming has been ranked #1 by the Tax Foundation for the last ten years, based on its overall business tax climate, corporate tax structure & and individual income tax structure.

The residents of Cheyenne Those in Wyoming understand that clean air and water, well-regarded educational institutions and healthcare facilities, a robust greenway and park system, and a safe community to grow their business and raise their family is their definition of the quality of life...all of this with an average commute time of just 14 minutes. Re-evaluating their futures – because they are finding that Wyoming is the definition of quality of life. For more information, please call Cheyenne LEADS at 800-255-0742 or visit www.cheyenneleads.org .

WYOMING: Laramie — Living and Thriving

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Laramie’s first newspaper dubbed it “The Gem City of the Plains,” in the 1870s. More recently, “Laradise” has become an equally popular epithet. With 300 days of sunny skies each year and convenient access to hundreds of nearby outdoor recreation opportunities, Laramie is every outdoor enthusiast’s paradise.

Laramie is a community where workers and businesses continue to thrive. Over the past number of years, direct and indirect economic development municipal investments have exceeded $80 million.

The result of those investments has netted a marked increase in jobs and a steep growth in all business sectors, especially in the areas of technology and manufacturing. This culture of innovation and creativity has launched Laramie into Wyoming’s home-grown tech hub, expanding to 80 companies.

Manufacturing in Laramie continues to expand with both small and large companies manufacturing everything from rifle scopes to craft beers and from hiking and biking gear to specialized tungsten parts and components.

While Laramie is a steadily growing tech hub for technology, it is not a silo of activity.

A strong regional synergy has developed in recent years between Laramie’s growing technology cluster, advanced manufacturing, and the University of Wyoming. Regional Synergy, paired with an exceptional array of amenities, thrives in southeastern Wyoming, and has developed into a desirable environment for data centers, technology businesses, and research and development firms.

To propel tech-sector growth, the City of Laramie and Laramie Chamber Business Alliance partnered to develop the State’s first technology-zoned business park. Known as the “Cirrus Sky Technology Park,” the vision is to offer a home to the growing number of technology and data management businesses. This site was zoned with the growth of the tech-sector in Laramie as the highest priority. The shovel-ready site has the potential to be a campus environment for an expanding company or a one-building space for established businesses among like-minded companies. The site has 75 acres +/-; zoned technology/office; city water

and sewer, natural gas; and redundant power (WAPA substation). The Cirrus Sky Technology Park can accommodate a variety of businesses ranging from a start-up to a multi-national firm. The site is also adjacent to land privately held that will also allow for the projected growth of the project. The Laramie Chamber Business Alliance is open to discussing all opportunities of available incentives to meet your specific needs. To

learn more about the Cirrus Sky Technology Park visit www.cirrusskywyoming.org Situated on the I-80 corridor, Laramie is less than 2 hours from Denver, 60 minutes from Fort Collins, and 90 minutes from Boulder. For more information on the opportunities in Laramie, please contact the Laramie Chamber Business Alliance at 307-745-7339 or visit their website at www.laramie.org X

CIRRUS SKY TECHNOLOGY PARK

Consider the possibilities: • No corporate or personal state income tax • Multiple long haul fiber optic provider • Home of the University of Wyoming • Highly educated workforce • Labor training grants • Shovel ready

528 South Adams Street, Laramie, WY. 82070

307•745•7339 • www.laramie.org bxjmag.com

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NORTH DAKOTA:

Photo by Jared Anders on Unsplash

BE LEGENDARY

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sk anyone living in North Dakota why they love working and living here, and you’ll hear a long list of answers. They might tell you about the great schools and family-friendly communities. They might share a story about how their career took off here, or how they built a thriving business from scratch. They might talk about the way their frontier spirit encourages living boldly and authentically.

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Business incentives, government accessibility, and workforce performance, combined with North Dakota’s favorable position as one of the lowest cost states for operating a business, are driving top companies to establish operations in North Dakota.

North Dakota’s economy is booming across many industries. From the flourishing energy development sector to leading edge technology companies, the opportunities are as varied as the geography. You’ll find rewarding careers in technology, energy, healthcare, manufacturing, education, government, and trades for all levels.

North Dakota is connecting to tomorrow. They are ranked #2 in the nation for ultra-fast internet access. North Dakota’s IT industry contributes significantly to the state’s overall growth and economic strength. It is connected to virtually every industry across the state. Nearly 3300 businesses employ close to 22,00 in various fields including IT, human relations, finance, and marketing. Companies like Microsoft and Amazon have long called North Dakota home.

Dubbed the “Silicon Valley of Drones” and home to one of seven Federal Aviation Administration (FAA) test sites conducting vital research, North Dakota 26 | BXJ | DECEMBER 2023 | bxjmag.com

is defining cutting-edge technology for uncrewed aircraft systems (UAS) with $77 million already invested in capital and infrastructure. The investment has led to North Dakota’s industry-defining advancement, Vantis. Vantis positions North Dakota as the epicenter of commercial UAS activity by being the nation’s first UAS statewide network to enable UAS flights beyond visual line of sight (BVLOS).

North Dakota produces vast amounts of energy. From coal and oil to wind and solar, energy sources complement each other providing reliable, redundant availability to power the surrounding states with deliveries to fuel and electricity. The state provides many incentives to stimulate growth for existing infrastructure and new renewable energy projects. North Dakota is paving the way for reduced carbon through capture and sequestration projects.

Production agriculture is an important part of the economy. The state works to diversify its agricultural fabric by targeting the development of value-added agriculture. Value-added agriculture is changes made to primary agriculture products (crops and livestock) that increase the product’s value, thereby creating new economic activity.

Advanced manufacturing accounts for 7.3% of North Dakota’s Gross State Product. Strong market growth, both domestically and internationally, has contributed to a healthy manufacturing economy.

For more information on the opportunities that North Dakota provides, please visit www.nd.gov or www.commerce.nd.gov or call 701-328-5300.

NORTH DAKOTA: Bismarck-Mandan ..........................................................

At first glance, the Bismarck-Mandan community may look like any other growing midwestern community; when taking a closer look, we see a community making its mark.

Bismarck boasts the largest public school district in North Dakota and fall 2023 saw increased enrollment for the 19th year in a row. Mandan, not to be outdone, has seen an increase in enrollment for fourteen years straight. Both have opened new elementary schools and MPS is currently constructing a new high school to house its growing student population completed with a CTE center for students to explore career paths. BPS also benefit from their Career Academy- a joint career and technical education center that is shared by Bismarck Public Schools and Bismarck State College.

Bismarck State College (BSC) recently became North Dakota’s polytechnic institution, which is the only one in the region, giving students a chance to earn Bachelor of Applied Science degrees in areas like Cybersecurity and Advanced Manufacturing. BSC is certainly not the only higher education institution in Bismarck-Mandan making strides; the University of Mary recently opened a brand-new College of Engineering. This continued investment in education lends itself well for companies who are looking to fill their workforce pipeline.

The Bismarck-Mandan community boasts a very competitive tax structure with some of the lowest income and property taxes in the country. There are many local and state incentive programs that can assist businesses interested in Bismarck-Mandan; among these is a scholarship/loan repayment program, for students in high-demand or skilled trades. Bismarck-Mandan is also home to The Bank of North Dakota (BND), the only state-owned bank in the United States.

BND offers a variety of unique financing

programs, including an interest buydown program to aid offsetting costs of emerging or expanding companies.

Bismarck-Mandan experienced a 20% increase in population in the last decade, and with that comes the need for exceptional quality of life amenities.

Bismarck-Mandan boasts over 100 miles of walking trails, multiple recreational activities on the Missouri River. As well as nearby campgrounds, hunting, and fishing opportunities.

Bismarck-Mandan is located at the intersection of Interstate-94 and U.S. Highway 83, providing access to markets throughout the Midwest and beyond.

The Bismarck Airport has daily flights through Delta Airlines to Minneapolis/St Paul, United Airlines to Denver, American Airlines to Dallas/Fort Worth, and less than daily service through Allegiant Airlines to Las Vegas, Phoenix/Mesa, and Orlando/ Sanford. The Bismarck-Mandan area is serviced by two class-1 railroads (BNSF and Canadian Pacific), and has ample resources such as water, natural gas, and power. Bismarck Mandan’s power and water rates are below the national average making it an inexpensive place to do business.

Bismarck-Mandan is a community that values business and is dedicated to supporting primary industries. As the community continues to grow, there is specific interest in bringing in value-added energy, food & beverage processing, and farm & construction equipment manufacturing. If your business wants to make its mark, Bismarck-Mandan is the perfect place... X

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EXPANSION

OPPORTUNITIES

MONTANA:

Photo by Michael Bourgault on Unsplash

Where Ideas Grow into Opportunities

M

ontana is where ideas grow into opportunities.

Their spectacular nature and unparalleled access to public lands make for a one-of-a-kind backdrop to build and grow your business. The state provides confidential, streamlined business development consulting to support you during all phases of your corporate expansion/relocation project. ......................................................................................

Montana’s skilled and educated workforce is one of the state’s greatest assets. Many state government programs help build on this strong foundation in areas of apprenticeship, worker training, and much more.

Montana ranks high in quality of infrastructure: from short average commutes to larger-scale transportation logistics. There are 15 commercial airports, 3 foreign trade zones, and more than 3,300 miles of rain infrastructure.

Montana consistently ranks as a state where business can thrive, thanks to pro-business state tax policies, competitive cost of doing business, and streamlined regulatory environment. There is no

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sales tax and the government and economic development leaders work together to ensure that the business climate remains favorable to companies of all sizes, including some of the nation’s leading corporations.

You probably know Montana as a scenic wonderland drawing nature-lovers and recreation enthusiasts to its majestic peaks and wide-open spaces throughout the year. What you may not know is the Big Sky State is also the most entrepreneurial place per capita in the country, according to the Kauffman Index of Entrepreneurship, with 540 residents for every 100,000 starting a business each month, nearly twice the national average. Also,there’s no traffic.

Montana is the 4th largest state by area, but the 43rd in population. Only Alaska and Wyoming have fewer people per square mile. (Thus, no traffic.) But what there is is so much more.

Home to 9 National Park Service Areas, including Glacier National Park, Yellowstone National Park, and Little Bighorn Battlefield National Monument, plus another 55 state parks, Montana boasts more than 147,000 square miles of spectacular unspoiled nature, 57,000 square miles of public land, and nearly 11,000 square miles dedicated to gaming. There are also over 400 miles of rivers and streams designated as blue-ribbon trout waters. And lots of skiing, even in the summer.

Other important business sectors include agriculture, timber, mining, healthcare, and high-tech, which is coming on particularly strong of late. According to the Montana High Tech Business Alliance, the state’s technology sector is growing at seven times the rate of the state’s overall economy, which itself has consistently out-performed the national economy over the past ten years. The tech sector in Montana now generates more than $1 billion in annual revenue.

Montana’s evolving workforce benefits from a stellar education system, which boasts one of the highest graduation rates in the country and a strong culture of cooperation between educators and employers to meet the needs of the state’s 21st Century economy.

For more information, please call the Montana Department of Commerce at 406-4310609 or visit www.choosemontana.com .

Development team is to help retain existing jobs in Montana, promote business expansion and recruit new businesses to the state. The economic development employees assist site selection consultants, economic development agencies, government agencies, existing businesses and potential new businesses. They are actively involved in economic development initiatives at the local, state, regional and

national levels. They can answer questions about utility rates, availability of utility distribution and transmission services, utility operations, power reliability, energy supply, and energy efficiency programs. X For more information on NorthWestern Energy please call (888) 467-2669 or visit their website at www.northwesternenergy.com

NorthWestern Energy

Economic vitality is crucial to Montana’s future, and for many years, NorthWestern Energy has held a strong commitment to the communities it serves. Community Works encompasses NorthWestern Energy’s tradition of funding community activities, charitable efforts and economic development within its service territory. In 2023, NorthWestern Energy’s Community Works programs provided nearly $2 million in funds for community sponsorships, charitable contributions and economic development organizations in its service territory. NorthWestern Energy is committed to serving as a meaningful and dedicated contributor to the economic development process, and they see their role as “energizing Montana’s economy.”

Their emphasis is on “Building Montana’s Future,” and the mission of the Economic

Powering Montana’s Business Community NorthWestern Energy is proud to have a rich heritage of providing utility services that contribute to the growth and economic prosperity in our communities.

The mission of our Economic Development team is to help retain existing jobs, promote business expansion, and recruit new businesses in the communities we serve. We are your partner in growth, development and success. To find out how NorthWestern Energy can assist your business, visit our website or call us at (888) 467-2669.

Connect With Us:

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INDUSTRY N E W S TexAmericas Center Celebrates Record-Breaking Growth in Employment, Companies on Footprint

brought in six new businesses in 2023 and boasted a 93 percent retention rate of existing tenants. Companies recorded 610 new jobs, marking a 223 percent increase over 2022, according to the report.

Texarkana, TX —– TexAmericas Center (TAC) announced its continued “We saw growth in the past year and we’re very proud of that. We’re and impressive growth in new businesses and year-over-year job growth at its especially proud, though, of the growth since TexAmericas Center was founded industrial park, highlighted in its 2023 TexAmericas Center Annual Census of more than 25 years ago. We want to be a catalyst for progress, but more than Employment and Payroll report. anything we want to support the hard-working men and women in our region TexAmericas Center, which owns and operates one of the largest mixed-use by fostering good jobs,” Norton said. “In just the past five years, we’ve supported industrial parks in the United States, announced the highest combined tenant payroll and largest number of tenants on the organization’s footprint in its history. businesses so they could collectively grow employment numbers by 85 percent.

Over the 2023 fiscal year, TexAmericas Center tenants provided $56.6 million We hope to continue to build upon those numbers.”

In the next year, TexAmericas Center will continue to recruit domestic in combined annual payroll, a 17 percent increase over 2022. Meanwhile, companies to its footprint and put increased emphasis on courting foreign employment is at 1,359 jobs, an 81 percent increase year over year. investments and overseas companies that are looking to expand domestically.

“New defense contracts stemming from support to the Red River Army - The organization’s support goes beyond business interaction. Staff will go Depot are partially to thank for the increase in employment and salaries,” said above and beyond to help families relocating to Texas with assistance in finding Scott Norton, Executive Director and CEO of TexAmericas Center. “The defense housing, navigating school districts, finding ESL classes, and more. contracts have helped spur continued economic development because they’re “We can’t wait to say ‘Welcome to TexAmericas Center! We’re glad you’re also having an impact on surrounding businesses that are supplementing here,’” Norton said. services, becoming vendors, and supporting these contracts. We have a robust ammunition and energetics cluster on our footprint, and this year’s Census report emphasizes the strategy behind those clusters.”

The nationally ranked industrial park

Empire State Development Announces Hp Hood To Grow Operations In Genesee County

completed in the first quarter of 2025.

Headquartered in Lynnfield, Massachusetts, HP Hood has five New York State production facilities in Batavia, Vernon, Oneida, Arkport and Lafargeville.

Renowned Dairy Product Processor Commits to Creating Close to Founded in 1846, today Hood is one of the largest branded dairy operators in the 50 New Jobs at Genesee Valley Agri-Business Park in Batavia United States.

The company’s portfolio of national and super-regional brands Genesee County, NY — Empire State Development (ESD) announced and franchise products includes Hood, Crowley Foods, Planet Oat, Heluva Good!, that dairy product manufacturer HP Hood will grow its operations in Genesee LACTAID®, and Blue Diamond Almond Breeze®. The company’s annual sales are Valley Agri-Business Park. The project will include the addition of new processing more than $3 billion. systems, along with other upgrades which will allow the company to increase Gary Kaneb, President and CEO of HP Hood LLC, said, “Our investment capacity for the production of additional extended-shelf-life (ESL) beverages at in the Batavia facility is being driven by the continued growth of ESLdairy and the Batavia facility. As a result, the company has committed to creating up to 48 non-dairy beverage categories. We are grateful for the support of Empire State new jobs at the manufacturing facility. To date, the company has created more Development as Batavia continues to be a strategic site for the expansion of our than 400 jobs at the site and currently employs close to 1200 statewide. Hood ESL manufacturing capabilities.” purchased the on-site, 363,000-square-foot plant in 2018 from the Dairy Farmers The Genesee Valley Agri-Business Park is located at the heart of the Buffaloof America for $60 million and soon after expanded the facility by another Rochester Tech Corridor.

For additional information about the park, visit: http:// 100,000 square feet. HP Hood is the agri-business park’s largest landowner. gcedc.com/agpark.

“This continued commitment from one of the nation’s most prominent dairy companies will create top-quality jobs and spur new investment in the Finger Lakes,” said Empire State Development President, CEO and Commissioner Hope Knight. “Agriculture and food processing are key pillars of the region’s economic development efforts, and HP Hood’s latest investment shows that our multipronged growth strategy is working.”

ESD is assisting the forward-thinking project with up to $1 million through the performance-based Excelsior Jobs Tax Credit Program in exchange for the job creation commitments. The total project cost has been placed at $120 million. Genesee County is also considering providing incentives for the project. Greater Rochester Enterprise also assisted with the expansion effort. Construction on the planned updates is expected to be

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Governor Shapiro: Pratt Industries Invests $500 Million in Pennsylvania to Create Hundreds of New Jobs

Carlisle, PA — Governor Josh Shapiro and Department of Community and Economic Development (DCED) Secretary Rick Siger joined Pratt Industries Executive Global Chairman Anthony Pratt to announce a new commitment by the corrugated packaging company to invest $500 million and create hundreds of jobs in Pennsylvania over the next ten years.

The announcement was made today as Governor Shapiro and Secretary Siger toured the company’s state-of-the-art plant in Carlisle, which employs 215 workers in full-time manufacturing jobs. Since taking office, Governor Shapiro has announced over $1.2 billion in new private sector investment in Pennsylvania.

“I want to plant a flag, and make it clear to companies across the country and around the world that Pennsylvania is open for business. Having Pratt Industries invest a total of $1 billion in Pennsylvania and create hundreds of new jobs is a clear sign that the Commonwealth is a place where global businesses can grow and succeed,” said Governor Josh Shapiro. “Whether they’re based in Australia or Allegheny County, we are showing the private sector that an investment in our Commonwealth is a worthwhile one – and companies that commit to moving and growing here know that the Commonwealth will be an active partner, and that we’ll work as hard for them as they work for their customers and employees.”

Pratt Industries has invested $500 million in Pennsylvania to date and employs more than 800 total workers at its facilities in Carlisle (Cumberland County), Reading (Berks County), East Greenville (Montgomery County) and Macungie and Emmaus (both in Lehigh County). As part of its new $500 million commitment, the company will invest in recycling, remanufacturing and clean energy infrastructure.

The Commonwealth, through DCED, provided Pratt Industries with a more than $1.3 million funding offer in 2011 to locate a box manufacturing

Northvolt to establish $5 billion gigafactory in Quebec, Canada

Montreal, Canada / Stockholm, Sweden — Northvolt announced that it will establish a fully integrated lithium-ion battery gigafactory, just outside of Montreal, in the Canadian province of Quebec. The factory, named Northvolt Six, will host 60 GWh of annual cell manufacturing capacity, with adjacent facilities for cathode active material production and battery recycling, enabling fully circular production at site.

Construction of the first 30 GWh phase of the project is due to commence before the end of 2023 and the first operations are set to begin in 2026. This initial phase of cathode and cell manufacturing, coupled with recycling, is expected to require a total investment of 5 billion USD (7 billion CAD) and employ up to 3,000 people. It is developed with strong support from the Government of Canada and the Government of Quebec and will represent the largest private investment in Quebec’s history.

Peter Carlsson, CEO and Co-Founder of Northvolt, comments: “In the seven years since Northvolt was founded, we have pursued a singular goal – to establish a new, sustainable model for battery manufacturing. Today, we are expanding our ambitions by bringing Northvolt to Canada.”

The selection of the 170-hectare site for Northvolt Six in McMasterville and Saint-Basile-le-Grand just outside the city of Montréal was made after an extensive review of locations in North America. The site fulfils a multitude of criteria that are necessary to ensure that the company will be able to meet its commitment to

plant in Macungie that helped create 125 jobs.

Pratt Industries is America’s fifth largest corrugated packaging company and the world’s largest, privately-held producer of 100% recycled containerboard.

Originating in Australia, Pratt Industries was founded in the U.S. more than 35 years ago and operates manufacturing facilities in more than 25 states. The company is the largest Australian employer in the United States, providing 11,000 jobs in more than 70 factories across the country.

“Pratt Industries is proud to employ more than 800 Pennsylvanians across the state in high-paying, green collar, advanced manufacturing jobs, and our total culminative investment in Pennsylvania now exceeds $500 million,” said Anthony Pratt, Pratt Industries Executive Chairman. “As part of that commitment, and as a result of Governor Shapiro’s leadership, I’m honored today to pledge a further investment of $500 million in recycling, remanufacturing and clean energy infrastructure over the next ten years, to create hundreds of new jobs in the great state of Pennsylvania. Our investments will allow the company to grow for years to come, supporting our customers, employees and the community.”

For more information about the Department of Community and Economic Development, visit DCED website, and be sure to stay up-to-date with all of our agency news on Facebook, Twitter, and LinkedIn.

sustainable battery production. Quebec hydroelectricity guarantees cell production from 100 percent renewable energy and the region represents an ideal location in the North American automotive value chain.

Northvolt Co-Founder Paolo Cerruti will lead the project as CEO of Northvolt North America, which will have its head office in Montreal. Cerruti comments: “We have in Northvolt Six enormous potential, not only to rapidly expand our ability to bring sustainable batteries into markets of North America, but to accelerate Quebec’s emergence as a key actor in the global energy transition. With its unique access to renewable power and raw materials, we see this as the ideal base of operations for Northvolt’s first gigafactory outside of Europe. We look forward to engagement with all local stakeholders and the province, to make Northvolt Six a textbook example of sustainable investment.”

About Northvolt Northvolt was established in 2016 in Stockholm, Sweden. Pioneering a sustainable model for battery manufacturing, the company has received $55 billion in orders from key customers, including BMW, Fluence, Scania, Volvo Cars and Volkswagen Group. The company is currently delivering batteries from its first gigafactory Northvolt Ett, in Skellefteå, Sweden and from its R&D and industrialization campus Northvolt Labs, in Västerås, Sweden, supported by over 5000 employees in Sweden, Germany, Norway, Poland, Portugal, the US and Canada.

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INDUSTRY N E W S Gov. Whitmer Announces Nel Hydrogen to Build Gigafactory in Plymouth Township, Bringing 517Jobs and $400 Million Investment to Michigan

Whitmer. “Earlier this year, I was honored to represent Team Michigan on my economic mission to Norway, which helped us close the deal and bring home this cutting-edge facility. Nel Hydrogen chose Michigan over several other states and nations because of our skilled workforce, strong network of universities, and worldleading mobility industry. Together, we will keep building on our leadership in cars, chips, and clean energy and share our story to bring even more jobs and investments home to Michigan. Let’s get it done.”

The project, expected to generate a total capital investment of up to $400 million and create more than 500 good-paying clean energy manufacturing jobs, will be supported in part by a $10 million Michigan Business Development Program grant. The MSF board also approved a 15-year, 100-percent State Essential Services Assessment Exemption Request, valued at up to $6.25 million, in support of the project.

The new 507,000-square-foot manufacturing facility will be used to manufacture Proton Exchange Membrane and Alkaline hydrogen electrolyzers and is expected to be a full greenfield build constructed specifically for Nel Hydrogen.

Latitude Corp. expands US footprint by establishing first South Carolina operations in Clarendon County

The company is purchasing a 50,000-square-foot facility located at 2414 Joe Rogers Blvd. in Manning. This location will manufacture large metal components.

Operations are expected to be online by June, 2024. Individuals who are interested in joining the Latitude Corp’s team should visit the company’s careers page.

The Coordinating Council for Economic Development approved job development credits related to this project. The council also awarded a $400,000 Rural Infrastructure Fund grant to Clarendon County to assist with the costs of building improvements.

“We are proud that South Carolina’s strong business climate helped to bring Latitude Corp. to South Carolina and are confident that Clarendon County will be an ideal location for the company’s newest operation. Congratulations to Latitude Corp., and welcome to South Carolina.” -Gov. Henry McMaster

Amazon to Build Two State-of-the-Art Operations Facilities in Virginia Beach, Creating 1,000+ New Jobs

possible.”

“City leadership, stakeholders, and partners are thrilled Amazon is making such a significant investment in Virginia Beach,” said City of Virginia Beach Mayor Bobby Dyer. “Virginia Beach is the ideal location for Amazon operations facilities due to its strategic location to The Port of Virginia, accessibility, and available workforce. We welcome Amazon to the Virginia Beach community and look forward to a successful partnership.”

“In the past few years, Amazon has truly embraced the Hampton Roads community, opening facilities in multiple locations and quickly becoming one of the region’s major employers. This announcement marks yet another milestone in Amazon’s investment in and dedication to Hampton Roads,” said Douglas L. Smith, President & CEO, Hampton Roads Alliance. “The Alliance congratulates Amazon, along with the Virginia Economic Development Partnership and the City of Virginia Beach, on their continued success and thanks them for their commitment to growing the Hampton Roads economy.”

In the 650,000-square-foot Virginia Beach robotics fulfillment center, Amazon associates will pick, pack, and ship small items to customers such as books, electronics, and toys.

The Virginia Economic Development Partnership worked with the City of Virginia Beach and the Hampton Roads Alliance to secure the project for Virginia. The City will fund stormwater and road improvements between Dam Neck Road and London Bridge Road to provide access to the facilities. Dominion Energy will provide power to the sites.

LANSING, MI — Governor Gretchen Whitmer announced Norwegian hydrogen company Nel Hydrogen has chosen Plymouth Charter Township as the location for its new automated gigafactory for production of electrolyzer technology for green hydrogen production. The announcement, which will create 517 good-paying jobs and invest $400 million in the local community, builds on Michigan’s leadership in advanced manufacturing and clean energy.

Through electrolysis, hydrogen can be produced from water and renewable energy; as the most abundant and lightest element in the universe, hydrogen can play a significant role in accelerating Michigan’s clean-energy transition away from fossil fuels.

“We are thrilled to welcome Nel Hydrogen’s up to $400 million gigafactory creating more than 500 good-paying jobs to Southeast Michigan,” said Governor

COLUMBIA, S.C. — Latitude Corp., a contract manufacturer of precision metal manufacturing solutions, announced plans to expand its U.S. footprint by establishing operations in Clarendon County. The company’s $29 million investment, in its first South Carolina facility, will create 200 new jobs.

Latitude Corp. started in 1990 as a machine shop in Middleton, Wisconsin.

Consistent growth prompted the company to expand and diversify into metal fabrication, welding and powder coating services. Today, Latitude Corp. is headquartered in Verona, Wisconsin and works with customers in numerous industries including agriculture, aerospace and defense, commercial appliances, government, healthcare, and is targeting growth in electric vehicles, energy and construction. The company has an additional operation in Tucson, Arizona.

Company to establish multi-story robotics fulfillment center and “last mile” delivery station

RICHMOND, VA — Governor Glenn Youngkin announced that Amazon will launch a new, state-of-the-art fulfillment center and delivery station in the City of Virginia Beach, creating full-time jobs with industry-leading pay and comprehensive benefits starting on day one. Amazon will establish a multi-story robotics fulfillment center and delivery station, which will bring more than 1,000 new full-time jobs. The new robotics fulfilment center is anticipated to launch operations in 2025, with the delivery station anticipated to launch in 2024 in time for the holiday season.

“Amazon’s cutting-edge fulfillment centers generate major capital investment and thousands of jobs and strengthen Virginia’s position as a logistics industry leader on the East Coast,” said Governor Glenn Youngkin. “We see Amazon’s expanding footprint impacting economic growth and innovation across the Commonwealth, and we will continue to compete for additional investment in Virginia.”

“Virginia is a great state for business and gives us the opportunity to better serve our customers in the region,” said Holly Sullivan, Amazon’s Vice president of Worldwide Economic Development and Public Policy. “We are excited for our future in the Commonwealth, and for what this means for our customers as we continue to grow. We’d also like to thank Governor Youngkin, local, and state leaders for their continued strong support in making another jobs announcement in Virginia

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Governor Lee, Commissioner McWhorter Announce Malibu Boats, LLC to Expand, Locate New Manufacturing Operations in Roane County Powerboat manufacturer to create nearly 800 new jobs in East Tennessee, invest $75 million through expansion

LENOIR CITY, TN . — Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Stuart C. McWhorter and Malibu Boats officials announced the company will invest $75 million to expand manufacturing operations in East Tennessee.

Malibu Boats will create 770 new jobs in Roane County over the next five years as the company locates some of its Cobalt boat brand production in an existing facility at the Roane Regional Business and Technology Park.

Germany-Based mtex Brings Investments in Technology, Engineering, Machining to Albuquerque

The Lenoir City location will be the company’s second plant outside of its headquarters in Loudon, Tennessee, and will allow the company to expand production and manufacturing capabilities of Cobalt boats to better meet its growing global customer demand.

Malibu Boats, LLC is a subsidiary of Malibu Boats, Inc. and one of the largest employers in East Tennessee. The company designs, engineers, manufactures, markets, and sells recreational powerboats globally. Founded in 1982, the parent company employs roughly 3,000 people. Production and hiring for its new Cobalt boats facility are anticipated to begin in the first quarter of 2024.

Since 2019, TNECD has supported more than 50 economic development projects in the East Tennessee region, resulting in approximately 7,200 job commitments and $2 billion in capital investment.

prioritize advanced manufacturing, and welcome companies like mtex to a built tech environment,” Gruner said. “We offer unparalleled advantages in this industry, including a robust workforce, universities graduating top tech candidates, and proximity to complimentary, supportive institutions.”

The Albuquerque Regional Economic Alliance (AREA), a non-profit economic development organization, assisted mtex in its expansion planning to New Mexico. “The greater Albuquerque region is paving the way to becoming a top location for innovation industry investment,” Danielle Casey, President & CEO of the Albuquerque Regional Economic Alliance (AREA), said.

“With over 16,000 jobs in industries which complement the aerospace cluster in greater Albuquerque, this investment further augments the economic environment of greater Albuquerque and is a huge win for the region and the state of New Mexico.”

Albuquerque, NM —Gov. Michelle Lujan Grisham, Mayor Tim Keller, and mtex Antenna Technology USA announced that the antenna and telescope technology company will open a facility in Albuquerque to fulfill obligations to North American customers, including the National Radio Astronomy Observatory (NRAO) and the Smithsonian Astrophysical Observatory in Cambridge, MA. Wiesbaden, Germany-based mtex hosted a delegation from New Mexico to announce the expansion on Sept. 28 at its facility in Leipzig. Those attending included Mark Roper, New Mexico Economic Development Department (EDD) Economic Division Director and City of Albuquerque Economic Development Director Max Gruner, both of whom have been instrumental in recruiting mtex to New Mexico.

The company plans to invest $16 million into its Albuquerque facility at the Sandia Science and Technology Park. The company will create a 70,000 square foot space for their self-developed manufacturing technology for high performance AI panels with a state-of-the-art machining center. They plan to have 62 employees and begin operations in 2027. The project is expected to have an economic impact of $182 million over 10 years.

“New Mexico is the optimal location for the company in terms of workforce, education, livability, business operating costs, and logistical transportation connections to U.S. customers,” mtex Antenna Technology CEO Lutz Stenvers said. “We are bringing investments in technology, engineering, and machining to Albuquerque, we feel that it’s the place to be right now as we look forward to possible collaborations with University of New Mexico, engineering schools such as New Mexico Tech, and other high-tech companies.”

“New Mexico is the place to be for advanced science and engineering, and now these high paying jobs are coming to New Mexico as mtex and other companies tap into New Mexico’s skilled workforce and our long history of scientific innovation,” Gov. Lujan Grisham said.

Stenvers also recognized the strong partnerships the company has developed with city and state officials. “I must also underline, thanks to Max Gruner, Mark Roper, and their teams that we feel really welcome as a foreign company coming to Albuquerque. Having a direct personal connection and being guided and supported is for us an important element in our growth story. “ “Albuquerque’s existing strengths and infrastructure allow us to Photos courtesy of mtex Antenna Technology

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2023-2024

INTERNATIONAL DIRECTORY OF

ECONOMIC DEVELOPERS

ALABAMA

ARIZONA

ARKANSAS

Cullman Economic Development Agency

Arizona Regional Economic Develoment

Chaffee Crossing

Dale Greer P.O. Box 1009 Cullman, AL 35056 256-739-1891 daleg@cullmaneda.org www.cullmaneda.org .......................................................................

Gadsden-Etowah Industrial Development Authority

David Hooks Executive Director 1 Commerce Square Gadsden, AL 35901 256-543-9423 davidhooks@gadsdenida.org www.gadsdenida.org .......................................................................

Elmore County Economic Development

Cary Cox P.O. Box 117 Wetumka , AL 36092 334-514-5843 cary.cox@elmoreeda.com www.elmoreeda.com .......................................................................

HudsonAlpha Institute for Biotechnology

Abbie Ruesy 601 Genome Way Huntsville , AL 35806 256-327-9591 aruesy@hudsonalpha.org www.hudsonalpha.org .......................................................................

Mignonne Hollis, Executive Director 750 E. Bartow Drive Suite 16 Sierra Vista, AZ 85635 520-458-6948 hollism@aredf.org www.aredf.org .......................................................................

City of Flagstaff Economic Development

John Saltonstall, AZED Pro Business Retention & Expansion Manager Economic Vitality Division City of Flagstaff 211 W. Aspen Avenue Flagstaff, AZ 86001 Office 928-213-2966 Cell 928-606-9430 jsaltonstall@flagstaffaz.gov www.flagstaffaz.gov .......................................................................

Pinal Alliance for Economic Growth

Patti King, Executive Mgr. 17235 N. 75th Avenue Suite D-145 Glendale, AZ 85308 520-836-8686 pking@pinalalliance.org www.pinalalliance.org .......................................................................

Salt River Project (SRP)

Karla Moran P.O. Box 52025 Phoenix, AZ 85072-2025 602-236-2396 Karla.moran@srpnet.com www.powertogrowphx.com .......................................................................

Daniel Mann, Executive Director 7020 Taylor Avenue Fort Smith, AR 72916 479-452-4554 daniel@chaffeecrossing.com www.chaffeecrossing.com .......................................................................

CALIFORNIA

City of Eastvale

Gina Gibson-Williams Economic Development Manager 12363 Limonite Ave. Suite 910 Eastvale, CA 91752 951-703-4425 ggibson-williams@eastvaleca.gov www.eastvaleca.gov .......................................................................

Ouachita Partnership for Economic Development

James Lee Sillman Executive Director 625 Adams Aveune Camden, AR 71701 870-836-2210 870-836-8899 (f) director@teamcamden.com www.teamcamden.com .......................................................................

East Arkansas Crossroads Coalition

Alicia Woolman 1790 N. Falls Boulevard, Suite 2 Wynne, AR 72396 870-238-5300 crossroads@crossroadscoalition.org www.crossroadscoalition.org .......................................................................

Mississippi County Economic Development

Clif Chitwood 4701 Memorial Drive Blytheville, AR 72315 870-532-6084 clif@cottontosteel.com www.cottontosteel.com .......................................................................

City of Moreno Valley Economic Development

Mike Lee Economic Development Director 14177 Frederick Street Moreno Valley, CA 92553 951-413-3460 mike@moval.org www.morenovalleybusiness.com .......................................................................

City of Ontario Economic Development

Jennifer McLain Hiramoto Economic Development Director 303 East B Street Ontario, CA 91764 909-395-2295 JHiramoto@ontarioca.gov www.ontariothinksbusiness.com .......................................................................

Greater Irvine Chamber

Pepper Russell 36 Executive Park Suite 100 Irvine, CA 92614 949-502-4129 prussell@irvinechamber.com www.irvinechamber.com .......................................................................

COLORADO Tuscaloosa County Economic Development Authority

Justice Smyth Executive Director P.O. Box 2667 Tuscaloosa, AL 35403 205-349-1414 info@tcoeda.com www.tcoeda.com .......................................................................

City of Surprise

Mike Hoover 16000 N Civic Center Plaza Surprise, AZ 85374 623-222-3328 Mike.hoover@surpriseaz.gov www.surpriseaz.gov .......................................................................

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City of Siloam Springs

Kristifier Paxton Community Development Director P.O. Box 80 Siloam Springs , AR 72761 479-238-0930 kpaxton@siloamsprings.com whysiloam.com .......................................................................

City of Canon City

Rick Harrmann 128 Main Street Canon City, CO 81212 719-276-5279 rlharrmann@canoncity.org www.canoncity.org .......................................................................

2023-2024

INTERNATIONAL DIRECTORY OF

ECONOMIC DEVELOPERS

FLORIDA

City of Fountain Economic Development Commission

Kimberly A. Bailey Economic Development/ Urban Renewal Director 116 S. Main Street Fountain, CO 80817 719-322-2056 kbailey@fountaincolorado.org www.fountaincolorado.org .......................................................................

Enterprise Florida, Inc.

800 North Magnolia Avenue Suite 1100 Orlando, FL 32803 407-956-5600 www.enterpriseflorida.com .......................................................................

Holmes County Development Commission

Joe Rone, Executive Director 106 E Byrd Avenue Bonifay, FL 32425 850-547-6154 jrone@westflorida.coop hcdc1978@gmail.com www.holmesedc.com .......................................................................

Pinellas County Economic Development

Dr. Cynthia Johnson, EDFP Director 13805 58th Street North, Suite 1-200 Clearwater, FL 33760 727-464-7332 cyjohnson@pinellascounty.org www.pced.org .......................................................................

City of Titusville Grand Junction Economic Partnership

Robin Brown, Executive Director 122 N. 6th Street Grand Junction, CO 81501 970--245-4332 robin@gjep.org www.gjep.org .......................................................................

CONNECTICUT

Town of Berlin

Chris Edge Director 240 Kensington Road Berlin, CT 06037 860-828-7005 cedge@town.berlin.ct.us www.town.berlin.ct.us .......................................................................

DELAWARE

Kent Economic Partnership

Linda Parkowski Executive Director 555 Bay Road Dover, DE 19901 302-678-3057 info@ccede.com www.choosecentraldelaware.com .......................................................................

Wilmington Economic Development Sean J. Park 800 N. French St., 3rd Floor Wilmington, DE 19801 302-576-2128 sjpark@wilmingtonde.gov www.wilmingtonde.gov .......................................................................

Nicholas Gow 555 South Washington Avenue Titusville, FL 32796-3584 321-567-3774 economicdevelopment@titusville.com www.YEStitusvilleFL.com .......................................................................

Greater St. Petersburg Area Economic Development Corporation

J.P. DuBuque President and CEO 100 2nd Ave N Ste 130 St. Petersburg, FL 33701 727-388-2906 jpdubuque@stpeteedc.com StPeteEDC.com/BurgBiz .......................................................................

Haines City Economic Development Council, Inc.

Cyndi Jantomaso, MEDP President/CEO Post Office Box 3845 Haines City, FL 33845-3845 863-422-2525 cyndi@hainescityedc.com www.hainescityedc.com .......................................................................

Hernando County Office of Economic Development

Valerie M. Pianta, MEDP, Economic Development Director 15800 Flight Path Drive Brooksville, FL 34604 352--540-6400 vpianta@hernandocounty.us www.hernandobusiness.com .......................................................................

Indian River Chamber of Commerce

Santa Rosa County EDO

Lake County Economic Growth

City of St. Cloud

Mary Ellen Stern, Executive Director 315 W. Main Street Tavares, FL 32778 352-343-9647 maryellen.stern@lakecountyfl.gov www.lakecountyfl.gov .......................................................................

Antranette Forbes, Economic Development Direcrector 1300 9th Street St. Cloud, FL 34769 (407)957-7234 antranette.forbes@stcloud.org www.stcloud.org .......................................................................

Osceola County

Tallahassee-Leon County Office of Economic Vitality

Helene Caseltine Economic Development Director 1216 21st Street Vero Beach, FL 32960 772-567-3491 helenec@indianrivered.com www.indianrivered.com .......................................................................

Shannon Ogletree, , Executive Director 6491 Caroline Street, Suite 4 Milton, FL 32570-4592 850-623-0174 Shannon@sant arosa.fl.gov www.santarosaedo.com .......................................................................

David Rodriguez, Economic Development Manager 1 Courthouse Square, Suite 4400 Kissimmee, FL 34741 407-742-0620 407-742-4202 (f) david.rodriguez@osceola.org www.chooseosceola.com www.osceola.org .......................................................................

Keith Bowers, Director 315 S. Calhoun Street, Suite 110 Tallahassee, FL 32301 850-219-1080 kbowers@oevforbusiness.org www.oevforbusiness.org .......................................................................

Pasco Economic Development Council

City of College Park

Bill Cronin, President & CEO 16506 Pointe Village Drive, Suite 101 Lutz, FL 33558 813-926-0827 813-926-0829 (f) bcronin@pascoedc.com pascoedc.com .......................................................................

GEORGIA

Artie Jones III Director of Economic Development 3667 Main Street College Park, GA 30337 404-305-2052 404-305-2057 (f) artiejones@collegeparkga.com www.collegeparkga.com/ .......................................................................

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2023-2024

INTERNATIONAL DIRECTORY OF

ECONOMIC DEVELOPERS

City of East Point

Maceo Rogers CEcD 2757 East Point Street East Point, GA 30344 404-270-7057 jmrogers@eastpointcity.org www.eastpointcity.org .......................................................................

City of Highland Economic Development

Mallord Hubbard 1115 Broadway, P.O. Box 218 Highland, IL 62249-0218 618-654-9891 618-654-4768 (f) mhubbard@highlandil.gov www.highlandil.gov .......................................................................

Alliance STL | St. Louis Regional Economic Development

Jason Hall. CEO One Metropolitan Square Suite 1300 St. Louis, MO 63102 314-444-1105 jason@greaterstlinc.com www.greaterstl.com .......................................................................

Go Topeka

Molly Howey, CEcD President 719 S Kansas Ave. Suite 100 Topeka, KS 66603 785.231.4707 mhowey@gotopeka.com www.gotopeka.com .......................................................................

Forward Forsyth

Slade Gulledge P.O. Box 1799 Cumming GA 30028 770-887-6461 770-842-1170 sgulledge@forwardforsyth.org www.forwardforsyth.org .......................................................................

Liberty County Development Authority

Ronald Tolley, CEO 425 W. Oglethorpe Highway Hinesville, GA 31313 912-977-4147 Ron.tolley@comegrow.global www.comegrow.global .......................................................................

Putnam Development Authority

Matt Poyner Econmical Devleopment Director 117 Putnam Drive, Eaton, GA 31024 706-816-8099 mpoyner@putnamforward.dev www.putnamforward.dev .......................................................................

Valdosta-Lowndes County Development Authority

Andrea Schruijer, Executive Director P.O. Box 5185 Valdosta, GA 31603-1963 229-259-9972 aschruijer@buildlowndes.com www.buildlowndes.com .......................................................................

City of Litchfield Ecnomic Development

Austin Edmondson 120 E. Ryder Street Litchfield, IL 62056 217-324-8151 cityadm@cityoflitchfieldil.com www.litchfieldil-development.com .......................................................................

City of Marshall

Nora Swalls Economic Development Director 201 S. Michigan Ave Marshall, IL 62441 217-826-2034 nswalls@marshall-il.com www.marshall-il.com .......................................................................

City of Vandalia

Latisha Paslay 431 W. Gallatin St. Vandalia, IL 62471 618-283-1152 618-335-9510 (Mobile) vandaliaed@vandaliaillinois.com www.vandaliaillinois.com .......................................................................

Intersect Illinois

Carly McCrory-McKay, Executive Director 1817 S. Neil Street, Suite 100 Champaign, IL 61820 217-359-6261 carly@champaigncountyedc.org www.champaigncountyedc.org .......................................................................

Charles Witherington-Perkins Director of Planning & Community Development 33 S. Arlington Heights Arlington Heights, IL 60005 847-368-5220 cperkins@vah.com www.vah.com .......................................................................

INDIANA

ILLINOIS

Champaign County Economic Development Corporation

Village of Arlington Heights Business & Economic Development

Dan Seals, CEO Senior Vice President Business Development 230 W. Monroe St. Chicago, IL 60606 312-667-6013 dan.seals@intersectillinois.org www.intersectillinois.org .......................................................................

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Huntington County Economic Development

Mark Wickersham, Executive Director 8 West Market Street Huntington, IN 46750 260-356-5688 mark@hcued.com www.hcued.com ..................................................................

Miami County Economic Development Auth.

Jim Tidd 1525 W. Hoosier Boulevard Peru, IN 46970 765-689-0159 jtidd@miamicountyeda.com www.miamicountyeda.com .......................................................................

KANSAS

Dodge City/Ford County Development Corporation

Joann Knight, Executive Director 101 E. Wyatt Earp Blvd.

Dodge City, KS 67801 620-227-9501 620-227-2957 (f) jknight@dodgedev.org www.dodgedev.org .......................................................................

Russell County Eco Devo & CVB

Mike Parsons, Director 331 E. Witchita, Russell, KS 67665 785-483-4000 rced2@russellks.net www.russellcountyks.org .......................................................................

Salina Economic Development Organization

D. Mitch Robinson, CEcD 120 West Ash Street Salina, KS 67401 785-404-3131 mrobinson@salinaedo.org www.salinaedo.org .......................................................................

Shawnee Economic Development

Ann Smith-Tate, President CEO 15100 W. 67th Street Suite 202 Shawnee, KS 66217-9344 913-631-6545 asmithtate@shawneekschamber.com www.shawnee-edc.com .......................................................................

Wyandotte Economic Development Council

Greg Kindle President 727 Minnesota Avenue Kansas City, KS 66101 913-371-3198 gkindle@wyedc.org www.wyedc.org .......................................................................

2023-2024

INTERNATIONAL DIRECTORY OF

ECONOMIC DEVELOPERS

KENTUCKY

City of Pikeville

Jill Fraley Dotson Executive Economic Development Director 773 Hambley Boulevard Pikeville, KY 41501 606-437-5128 info@whypikeville.com www.whypikeville.com .......................................................................

Be NKY

Kimberly Rossetti VP of Economic Development 300 Buttermilk Pike, Suite 332 Ft. Mitchell, KY 41017 888-874-3365 krossetti@Be-NKY.com www.Be-NKY.com .......................................................................

South Western Kentucky EDC

Carter Hendricks Executive Director 2800 Fort Campbell Blvd.

Hopkinsville, KY 42240 270-885-1499 chendricks@southwesternky.com www.southwesternky.com .......................................................................

LOUISIANA Louisiana Economic Development

Anya G. Hudnall 1201 N. Third Street Suite 7-210 Baton Rouge, LA 70802 225-342-5396 Anya.hudnal@la.gov www.la.gov .......................................................................

SWLA Economic Development ALLIANCE

George Swift 4310 Ryan Street Lake Charles LA 70605 337-433-3632 gswift@allianceswla.org www.allianceswla.org .......................................................................

St. Mary Parish of Economic Development

Evan Boudreaux Director 500 Main Street, 5th Floor Courthouse Franklin, LA 70538 337-828-4100 ecodev@stmaryparishla.gov www.stmaryparishdevelopmant.com .......................................................................

MAINE

Town of Richmond Community, Economic, & Business Development Darryl Sterling, Director 26 Gardiner Street Richmond, ME 04357-0159 207-737-4305 x 331 207-737-4306 (f) director@richmondmaine.com www.richmondmaine.com .......................................................................

MARYLAND

Calvert County Economic Development

Julie Oberg, Director 205 Main Street Prince Frederick, MD 20678 410-535-4583 julie.oberg@calvertcountymd.gov www.choosecalvert.com .......................................................................

Carroll County Economic Development

Paige Sunderland, Director 225 N. Center Street, Ste. 101 Westminster, MD 21157 410-386-2070 psunderland@carrollbiz.org www.carrollbiz.org .......................................................................

Cecil County Economic Development

Bill Sorenson, Director 200 Chesapeake Blvd., Ste 2700 Elkton, MD 21921 410-996-8465 wsorenson@cecilcountymd.gov www.cecilbusiness.org .......................................................................

The Right Place, Inc.

Dorchester County Economic Development

Susan Banks, Director 104 Tech Park Drive Cambridge, MD 21613 410-228-0155 sbanks@choosedorchester.org www.choosedorchester.org .......................................................................

Kent County Department of Economic & Tourism Development

Jamie L. Williams, CEcD, Director 400 High Street, 3rd Floor Chestertown MD 21620 410-810-2168 jlwilliams@kentgov.org www.kentcounty.com/business .......................................................................

Maryland Department of Commerce Tom Riford 100 Community Place Crownsville, MD 21032 877-634-6361 www.maryland.gov .......................................................................

Montgomery County Economic Development

Laurie Babb 1801 Rockville Pike, Ste. 320 Rockville, MD 20852 240-641-6704 laurie@thinkmoco.com www.thinkmoco.com .......................................................................

Andria Romkema 125 Ottawa Avenue, Suite 450 Grand Rapids, MI 49503 616-771-0563 romkemaa@rightplace.org www.Rightplace.org .......................................................................

MINNESOTA

City of Lakeville Community & Economic Development

David Olson, Director 20195 Holyoke Avenue Lakeville, MN 55044 952-985-4421 dolson@lakevillemn.gov www.lakevillemn.gov .......................................................................

MISSOURI

Greater St. Louis, Inc.

Maggie Kost Chief Business Attraction Officer One Metropolitan Square, Suite 2200 St. Louis, MO 63102 314-444-1115 Maggie@GreaterSTLinc.com www.GreaterSTLinc.com .......................................................................

Sikeston Regional Chamber & Economic Development Corp.

Talbot County Economic Development

Cassandra M. Vanhooser, Director 11 S. Harrison Street Easton, MD 21601 410-770-8000 Cvanhooser@talbgov.org www.talbgov.org .......................................................................

MICHIGAN

Economic Development Alliance (EDA) of St. Clair County Dan Casey, CEO 100 McMorran Boulevard 4th Floor, Suite B Port Huron, Michigan 48060 Ph: 810.982.9511 www.edascc.com stclairhotjobs.com .......................................................................

Marcie Lawson 128 N. New Madrid Street Sikeston, MO 63801 573-471-2498 marcie.lawson@sikeston.net www.sikeston.net .......................................................................

NEVADA

Las Vegas Global Ecnomic Alliance Perry Ursem Vice President, Business Retention + Expansion 6720 via Austi Parkway Suite #330 Las Vegas, NV 89119 702-791-0000 www.Ivgea.org .......................................................................

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2023-2024

INTERNATIONAL DIRECTORY OF

ECONOMIC DEVELOPERS

NEW YORK Northeastern Nevada Regional Development Authority

Sheldon Mudd, Executive Director 1500 College Pkwy McMullen Hall #103 Elko, NV 89801 775-738-2100 775-738-7978(f) smudd@nnrda.com www.nnrda.com .......................................................................

NEW JERSEY

Choose New Jersey

Allegany County Industrial Development Agency

Craig Clark, Executive Director CrossRoads Center 6087 State Route 19N, Suite 100 Belmont, NY 14813 585-268-7472 800-893-9484 clarkcr@alfredstate.edu www.acida.org .......................................................................

The Agency-Broome County IDA/LDC Stacey Duncan, Executive Director of Community & Economic Development Five South College Drive Suite 201 Binghamton, NY 13905 607-584-9000 607-584-9009 (f) smd@theagency-ny.com www.theagency-ny.com .......................................................................

Bill Noonan, Chief Business Development Officer 11-43 Raymond Plaza W, Suite 1420 Newark, NJ 07102 609-297-2200 wnoonan@choosenj.com Fulton County Center for www.choosenj.com Regional Growth .......................................................................

Ronald M. Peters 34 West Fulton Street Gloversville, NY 12078 518-725-7700 ext. 2 Gloucester County Department of ronp@fccrg.org Economic Development www.fccrg.org .......................................................................

Tom Bianco, Director 1480 Tanyard Rd., Sewell, NJ 08080 Mohawk Valley Edge 856-384-6930 Nick Bruno tbianco@co.gloucester.nj.us 584 Phoenix Drive www.gloucestercountynj.gov Rome, NY 13441-4105 .......................................................................

315-338-0393 nbruno@mvedge.org www.mvedge.org .......................................................................

New Jersey EDA

Pat J. Rose 36 West State Street Trenton, NJ 08625 609-858-6705 prose@njeda.com www.njeda.com .......................................................................

NEW MEXICO

Saratoga EDC

OKLAHOMA

Harnett County Economic Development

Debbie Taylor, Marketing & Business Recruitment Manager 200 Alexander Dr. or PO Box 1270 Lillington, NC 27546 910-814-6891 919-814-8298 (f) dhtaylor@harnett.org www.harnettedc.org .......................................................................

Bartlesville Development Authority

Jared Patton, Vice President 201 SW Keeler Bartlesville, OK 74003 918-337-8086 918-337-0216 (f) jpatton@bdaok.org www.bdaok.org .......................................................................

Ponca City Development Authority Piedmont Triad Airport Authority

Sherry Sechrest 1000A Ted Johnson Parkway Greensboro, NC 27409 336-665-5602 sechrests@gsoair.org www.landatpti.com .......................................................................

David Myers, Executive Director 102 S. Fifth Street Suite 3 Ponca City, OK 74601 580-765-7070 580-765-7070 (f) dmyers@goponca.com www.goponca.com .......................................................................

RHODE ISLAND

City of Warwick Department of Tourism, Culture, and Development

Stanly County Economic Development Commission

Candice Boyd Lowder, Director 1000 North First Street, Suite 11 Albemarle, NC 28001 704-986-3682 704-986-3685 (f) clowder@stanlyedc.com www.stanlyedc.com .......................................................................

Tori J.E. Riley, VP 56 Duplainville Road NORTH DAKOTA Saratoga Springs, NY 12866 518-587-0945 toririley@saratogaedc.com www.saratogaedc.com .......................................................................

NORTH CAROLINA

3275 Pos t Road Warwick, RI 2886 401-738-2014 econ.dir@warwickri.com www.visitwarwickri.com .......................................................................

Quonset Development Corporation

Steven J. King, Managing Director 95 Cripe Street North Kingstown, RI 2852 401-295-0044 sking@quonset.com www.quonset.com .......................................................................

SOUTH CAROLINA

Bismarck Mandan Chamber EDC EDC of Lea County

Jennifer Grassham, CEO 200 E. Broadway Street Hobbs, NM 88240 573-397-2039 jennifer@edclc.org www.edclc.org .......................................................................

Beaufort County Economic Development

Brad Hufford, Director 705 Page Road Washington, NC 27889 252-946-3970 252-946-0849 (f) brad.hufford@beaufortedc.com www.beaufortedc.com ........................................................................

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Nathan Schneider, CEcD-Vice President 1640 Burnt Boat Dr. Bismark, ND 58503 701-223-5660 nschneider@bmcedc.com www.bismarckmandanedc.com .......................................................................

Charleston Regional Development Alliance Megan Fink 4401 Belle Oaks Drive, Suite 420 North Charleston, SC 29405 843-760-3351 mfink@crda.org www.crda.org .......................................................................

2023-2024

INTERNATIONAL DIRECTORY OF

ECONOMIC DEVELOPERS

Lexington County Economic Development

Sarah J. Johnson Department Director 212 South Lake Drive Lexington, SC 29072 803-785-6818 sjjohnson@lex-co.com www.LexingtonCountyUSA.com .......................................................................

South Carolina I-77 Alliance

Christopher Finn 3200 Commerce Drive, Suite D Richburg, SC 29729 803-789-3467 chris.finn@i77alliance.com www.i77alliance.com ........................................................................

SouthernCarolina Regional Alliance

Kay Maxwell 1750 Jackson Street, Suite 100 Barnwell, SC 29812 803-541-0023 kmaxwell@southerncarolina.org www.southerncarolina.org .....................................................................

TENNESSEE

City of Lebanon

Sarah Haston Economic Development Director 200 North Castle Heights Ave. Lebanon, TN 37087 615-443-2839 EXT. 2120 Sarah.Haston@lebanontn.org www.lebanontn.org .......................................................................

DeSoto Economic Development

Cedar Hill Economic Development Corporation

Henry Florsheim 285 Uptown Boulevard, Bldg. 100 Cedar Hill, TX 75104 972-291-5132 henry.florsheim@cedarhilltx.com www.cedarhilledc.com .......................................................................

LCRA

NETWORKS – Sullivan Partnership

Clay Walker PO Box 747, Blountville, TN 37617 423-279-7681 cwalker@networkstn.com www.networkstn.com .......................................................................

TEXAS

Big Spring Economic Development Corporation Mark Willis 215 W. 3rd Street Big Spring, TX 79720 432-264-6032 markwillis@bigspringtx.com www.bigspringtx.com .......................................................................

City Development Corp of El Campo Carolyn Gibson Executive Director 707 Fahrenthold P.O. Box 706 El Campo, TX 77437 979-543-6727 979-320-7727 cell cgibson@elcampoeco.org www.elcampoeco.org .......................................................................

City of Fort Worth

Robert Sturns, Director 1150 S. Freeway Fort Worth, TX 76104 817-392-2663 Robert.Sturns@fortworthtexas.gov .......................................................................

Bowie Economic Development Corporation Blount Partnership

Bryan Daniels CEcD, CCE, IOM President and CEO 201 S. Washington Street St. Maryville, TN 37804 865-983-2247 865-984-1386 bdaniels@blountpartnership.com www.blountchamber.com .......................................................................

Matt Carlson, CEO 211 E. Pleasant Run Road DeSoto, TX 75115 Ph: 972-230-9611 mcarlson@desototexas.gov www.dedc.org .......................................................................

Janis Crawley 101 E. Pecan, Bowie, TX 76230 940-872-4193 940-531-8201(c) BEDC@BowieTexasEDC.com www.BowieTexasEDC.com .......................................................................

Karen Dickson Economic Development Manager 3700 Lake Austin Blvd.

Austin, TX 78703 512-578-3291 karen.dickson@lcra.org www.lcra.org/economic-development/ pages/default.aspx .......................................................................

McKinney Economic Development Corporation

Peter Tokar III President/CEO 7300 SH 121 SB, Ste 200 McKinney, TX 75070 972-547-7687 ptokar@mckinneyedc.com www.uniquemckinney.com .......................................................................

Mineola Economic Development Corp City of Leander

Randall Malik Economic Development Director 201 N Brushy Leander, TX 78641 512-528-2855 rmalik@leandertx.gov www.leanderbusiness.com .......................................................................

Mercy Rushing, Executive Director 300 Greenville Highway Mineola, TX 75773 903-569-6183 903-245-8505 mrushing@mineola.com www.mineola.com .......................................................................

Cameron Industrial Foundation Bristol Tennessee Essential Services April Eads Business Development Manager 2470 Volunteer Parkway Bristol, TN 37620 423-793-5532 423-793-5545 (f) aeads@btes.net www.btes.net/index.php/economic-development .......................................................................

Ginger Watkins, Executive Director 102 E. First Street, Suite A Cameron, TX 76520 254-697-4970 254-482-1119 (c) gwatkins@cameronindustrialfoundation.com www.cameronindustrialfoundation. com .......................................................................

Conroe Economic Development Council

Odessa Economic Development Corporation

Danielle Scheiner, Executive Director 300 W Davis St, Ste 510 Conroe, TX 77301 USA 936-522-3529 scheiner@conroeedc.org www.conroeedc.org .......................................................................

Tom Manskey 700 N. Grant Ave. Odessa, TX 79761 432-333-7880 tom@odessaecodev.com www.odessatx.com .......................................................................

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2023-2024

INTERNATIONAL DIRECTORY OF

ECONOMIC DEVELOPERS

Jacksboro Economic Development Corporation

Brenda Tarpley Executive Director 302 S. Main Street Jacksboro, TX 76458 940-567-3151 btarpley@jacksboroedc.com www.jacksboroedc.com ..................................................................

Laredo Economic Development

Gene Lindgren President & CEO 302 S. Main Street Laredo, TX 78044 956-722-0563 glindgren@laredoedc.org www.laredoedc.org .......................................................................

Marble Falls EDC

Christian Fletcher 801 Fourth Street Marble Falls, TX 78654 830-798-7079 cfletcher@marblefallseconomy.com www.marblefallseconomy.com .......................................................................

Mount Pleasant EDC

Nathan Tafoya, Executive Director 1604 N. Jefferson Ave. Mount Pleasant, TX 75455 903-572-6602 nathan@mpedc.org www.mpedc.org .......................................................................

New Braunfels EDC

Michele Boggs Marketing/Research Director 390 S. Seguin Avenue New Braunfels, TX 78130 830-608-2811 michele@innewbraunfels.com www.newbraunfelsedc.com .......................................................................

Pflugerville Community Development

Amy Madison 3801 Helios Way Suite 130 Pflugerville, TX 78660 512-990-3725 amym@pfdevelopment.com www.pfdevelopment.com .......................................................................

Plainview Economic Development Corporation

Kristi Aday, Executive Director 1906 West 5th Plainview, TX 79072 806-293-8536 kaday@plainviewtx.org www.plainviewedc.org .......................................................................

TexAmericas Center

Eric Voyles, Executive Vice President Chief Economic Development Officer 107 Chapel Lane New Boston, TX USA 75570 Po3-223-9841 (0) 903-306-8923 Cell Eric.Voyles@TexAmericasCenter.com www.TexAmericasCenter.com .......................................................................

Whitesboro Economic Development Corp.

Lynda Anderson, Director P.O. Box 340 or 111 W. Main Whitesboro, TX 76273 930-564-3311 landerson@whitesborotexas.com www.whitesborotexas.com .......................................................................

UTAH

Eagle Mountain Economic Development

Evan Berrett, City Administrator 1650 E. Stagecoach Run Eagle Mountain, UT 84005 801-789-6621 eberrett@emcity.org www.eaglemountaincity.com .......................................................................

VIRGINA

Arlington Economic Development

Ryan Touhill, AED Director 1100 N Glebe Rd Suite 1500 Arlington, VA 22201 703-228-0808 703-228-0805 (f) rtouhill@arlingtonva.us www.arlingtoneconomicdevelopment.com .......................................................................

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Bedford County Office of Economic Development

Pam Bailey, Director of Economic Development Bedford County 122 East Main Street, Suite 202 Bedford, Virginia 24523 540-587-5670 pbailey@bedfordcountyva.gov www.bedfordeconomicdevelopment.com .......................................................................

WASHINGTON

City of Lakewood Economic Development

Becky Newton, Manager 6000 Main Street SW Lakewood, WA 98499 877-421-9126 bnewton@cityoflakewood.us www.buildyourbetterhere.com .......................................................................

City of Maple Valley

Kristina Weaver Economic Development Manager P.O. Box 320 Maple Valley, WA 98038 425-413-8800 kristina.weaver@maplevalleywa.gov www.maplevalleywa.gov ..................................................................

Try-City Development Council

Karl Dye, President & CEO 7130 W. Grandridge Blvd #A Kennewich, WA 99336 509-735-1000 kdye@tridec.org www.tridec.org ..................................................................

WISCONSIN

Madison Region Economic Partnership

Kathy Collins, VP Economic Development 8517 Excelsior Drive, Suite 107 Madison, WI 53717 608-571-0407 kcollins@madisonregion.org www.madisonregion.org .......................................................................

New North, Inc

Barb LaMue, President & CEO 2740 W. Mason Street Green Bay, WI 54303 920-676-1960 barb.lamue@thenewnorth.com www.thenewnorth.com .......................................................................

Portage County Business Council, Inc. PCB

Michael Witte, Executive Director 5501 Vern Holmes Drive Stevens Point, WI 54482 715-344-1940 715-344-1940 (f) michaelw@portagecountybiz.com www.portagecountybiz.com .......................................................................

WYOMING

Advance Casper

Morryah McCurdy 111 S. Durbin, Suite 200 Casper, WY 82601 307-577-7011 morryah@advancecasper.com www.advancecasper.com .......................................................................

City of Franklin Economic Development

John Regetz, Director 9229 W. Loomis Road Franklin, WI 53132 414-427-7566 jregetz@franklinwi.gov www.franklinwi.gov .......................................................................

Cheyenne LEADS

Betsey Hale, Chief Executive Officer One Depot Square 121 W. 15th St. Suite 304 Cheyenne, WY 82001 307-638-6000 betseyh@cheyenneleads.org cheyenneleads.org .......................................................................

2023-2024

INTERNATIONAL DIRECTORY OF

ECONOMIC DEVELOPERS

NEW BRUNSWICK The Laramie Chamber Business Alliance

Josh Boudreau, VP Economic Development 528 South Adams Street Laramie, WY 82070 307-745-7339 jboudreau@laramie.org www.laramie.org .......................................................................

CANADA ALBERTA

Calgary Economic Development

500 Centre Street S, 32nd Floor Calgary, Alberta, Canada T2G 1A6 403-221-7831 info@calgaryeconomicdevelopment.com www.calgaryeconomicdevelopment.com .......................................................................

MANITOBA

City of Brandon

Gerald Cathcart Director Main Floor, 410 9th Street Brandon, Manitoba, Canada R7A 6A2 204-729-2131 g.cathcart@brandon.ca www.economicdevelomentbrandon.com .......................................................................

Ignite Fredericton

Paula Lehr 40 Crowther Lane, Ste. 100 Fredericton, NB E3C 0J1 506-282-0624 paula.lehr@ignitefredericton.com www.ignitefredericton.com .......................................................................

Imagine Chaleur

Shirley de Silva 702 Principale Street, Ste. 2 Petit-Rocher, NB E8j 1V1 506-542-2688 shirley.desilva@csrchaleurrsc.ca www.csrchaleurrsc.ca .......................................................................

Expansion Dieppe

Louis Godbout 333 Acadia Avenue Dieppe, NB E1A 1G9 506-877-7850 louis.godbout@dieppe.ca www.expansiondieppe.ca .......................................................................

ONTARIO

City of Guelph

Christine Chapman 1 Carden Street Guelph, Ontario, Canada N1H 3A1 519--822-1260 ext. 2823 Christine.chapman@guelph.ca www.guelph.ca/business .......................................................................

City of Kawartha Lakes Economic Development

Lindsey Schoenmakers 180 Kent Street West Lindsay, Ontario, Canada K9V 2Y6 705-324-9411 lschoenmakers@kawarthalakes.ca www.kawarthalakes.ca .......................................................................

Middlesex County

County of Elgin

Carolyn Krahn, Manager Economic Development And Tourism 450 Sunset Drive St. Thomas, Ontario, Canada N5R 5V1 519-631-1460 ext. 133 ckrahn@elgin.ca www.progressivebynature.com .......................................................................

Cara A. Finn, BBA, M. Ad.Ed. Director of Economic Development 399 Ridout St. North London, ON N6A 2P1 519-434-7321 cfinn@middlesex.ca www.investinmiddlesex.ca .......................................................................

City of Mississauga Economic Development

Chistina Kakaflikas, Ec. D. Director of Economic Development Office Mississauga City Hall 300 City Centre Drive, 3rd Floor Mississauga, ON L5B 3C1 Canada 800-456-2181 905-896-5931 christina.kakaflikas@mississauga.ca www.TheFuturelsUnlimited.ca .......................................................................

Town of Aurora Economic Development

Lisa Hausz 100 John West Way, Box 1000 Aurora, Ontario, Canada L4G 6J1 905-727-1375 lhausz@aurora.ca www.aurora.ca .......................................................................

Vaughan Economic and Cultural Development

Raphael Costa Vaughan City Hall, Level 200 2141 Major Mackenzie Drive Vaughan, Ontario, Canada L6A 1T1 905-832-8526 ext. 8891 raphael.costa@vaughan.ca www.vaughan.ca/Business .......................................................................

ADVERTISER & EDIT INDEX Advertiser

AD

Edit

ARIZONA Salt River Project

Northwestern Energy

1

17 19

21

LOUISIANA Southwest Louisiana

Edit

29

29

27

26

23 24 25

23 24 25

NORTH DAKOTA 16 18

DELAWARE Wilmington

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MONTANA

ARKANSAS Camden Clarksville

Advertiser

BC

21

Bismarck-Mandan

WYOMING Casper Cheyenne Laramie

ONTARIO, CANADA Middlesex County

3

MARYLAND Kent County

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