Jan/Feb 2018 CEO Site Selection Guide

2018

CEO GUIDE TO SITE SELECTION

PLUS: The Atlas of American Prosperity

by Joel Kotkin

Created for those with high site selection standards: Make Ohio home.

If you have high site selection standards, meet SiteOhio.

SiteOhio is an authentication process that’s more thorough and stringent than any other in the country. So when you choose a SiteOhio location, you’re ready to build on day one.

Jobs-Ohio.com

Welcome to Ohio.

A CEO’S GUIDE TO SITE SELECTION

WHERE TO?

W

WHEN AMAZON ANNOUNCED TO THE world earlier this year that it was looking for a new home for a second headquarters, it set off a gold rush among cites and states across America. The thought of 50,000 six-figure jobs at one of the hottest companies on the globe grabbed the full attention of city halls and statehouses from New York to California, and literally everywhere in between.

The news also ignited a fair amount of introspection among CEOs and their government counterparts. So what makes a place great for business?

A great tax climate? A government that encourages enterprise? Great infrastructure?

Yes, absolutely. But it’s more than just that. The chief executives we talk to are, more than anything else, in search of great talent to ignite and sustain innovation and growth. So where are those great do-ers? The industrious, hungry millenials with the next transformative idea? The veteran engineers who can jumpstart a product—or a production line? The rocket scientists, the coders, the seasoned, skilled labor? Where do they live? And where do they want to live?

Helping you start to figure this out is the purpose of this guide. As we continue into this deepening cycle of expansion, more and more business leaders are thinking about what comes next for their organizations—and where that next chapter should take place. It’s one of the most important, and crucial, decisions you’ll ever make. We hope we can make it a little easier.

—Dan Bigman, Editor, Chief Executive

2018 CEO GUIDE TO SITE SELECTION

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A CEO’S GUIDE TO SITE SELECTION

TABLE OF CONTENTS

EDITOR Dan Bigman EDITOR AT LARGE Jennifer Pellet MANAGING EDITOR

8 THE NEW OPPORTUNITY BOOMTOWNS

Millennial migration and lower living costs are turning oftenoverlooked cities into Goldilocks options for business.

By Joel Kotkin

21-72 STATE PROFILES

Snapshot reports, in alphabetical order, on workforce quality, regulatory environment, tax policy, incentive programs, regulatory environment and more for each of the contiguous states. By Craig Guillot .

72 SOURCES

Patrick Gorman Kimberly Crowe PRODUCTION DIRECTOR Rose Sullivan CHIEF COPYEDITOR Rebecca M. Cooper ART DIRECTORS Gayle Erickson Alli Lankford CONTRIBUTING EDITORS

Craig Gulliot Joel Kotkin

ONLINE EDITOR Lynn Russo Whylly EDITOR EMERITUS J.P. Donlon PUBLISHER Christopher J. Chalk 847-730-3662 | cchalk@chiefexecutive.net DIRECTOR OF EVENTS Jamie Tassa 616-592-1506 | jtassa@chiefexecutive.net VICE PRESIDENT Phillip Wren 203-930-2708 | pwren@chiefexecutive.net DIRECTOR, BUSINESS DEVELOPMENT Lisa Cooper 203-889-4983 | lcooper@chiefexecutive.net DIRECTOR, BUSINESS DEVELOPMENT Liz Irving 203-889-4976 | lirving@chiefexecutive.net DIRECTOR, BUSINESS DEVELOPMENT Gabriella Kallay 203-930-2918 | gkallay@chiefexecutive.net DIRECTOR, BUSINESS DEVELOPMENT Marc Richards 203-930-2705 | mrichards@chiefexecutive.net MARKETING DIRECTOR Jason Golden 203-889-4978 | jgolden@chiefexecutive.net CLIENT SERVICES ASSOCIATE Ashley Gabriele 203-889-4989 | agabriele@chiefexecutive.net VICE PRESIDENT, HUMAN RESOURCES Melanie Haniph CONTROLLER Steve Hallem CHIEF OPERATING OFFICER Scott Budd

Wayne Cooper EXECUTIVE CHAIRMAN

2 2018 CEO GUIDE TO SITE SELECTION

Marshall Cooper CHIEF EXECUTIVE

CHIEF EXECUTIVE GROUP 9 West Broad Street, Suite 430 Stamford, CT 06902 | 203-930-2700 WWW.CHIEFEXECUTIVE.NET

source: Sites USA Applied Geographic Solutions 04/2017

Incorporated

1946

Total Acres

122,369

Total Sq. Miles

191.2

Elevation

968 ft.

Population

College Educated

78,189

68.3%

some college or higher

Median Age

37.1

Days of Sunshine

300+

QUALITY COMMUNITY

Goodyear, Arizona gleams with tremendous community spirit and is surrounded by desert vistas, golf courses, lakes, parks and scenic views of the Sierra Estrella and White Tank Mountains.

• Abundant and diverse workforce • Beautiful housing in upscale master planned communities • Premier incentives and streamlined development process

Total Housing Units

Workforce Population

30,197 Median Home Value

1.56 M

within 30 minute drive time

237,319

$

Professional Workers

62.4%

Median Household Income

73,831

$

Annual Household Consumer Expenditure

1.84 B

$

LOCATION, LOCATION, LOCATION

Goodyear is one of the fastest growing cities in the nation with top Industries including Aerospace, Aviation, Manufacturing, Logistics, Medical and Health Services.

•

Home to best-in-class companies including Cancer Treatment Centers of America, Ball Corporation, Huhtamaki, Lockheed Martin, REI, Sub-Zero and UPS

•

Located 20 minutes from downtown Phoenix in close proximity to Interstate 10, major freeways, airports and rail services

•

Minutes away from professional sports venues featuring MLB, NFL, NHL and NASCAR

develop.goodyearaz.com

623.932.3025 | gyecdev@goodyearaz.gov

5

T H OU G H T L E A DE RSH IP C O N T E N T PR OV ID E D BY D E LO IT T E

Making the Right Move: Five Questions To Ask About Site Selection

BY DARIN BUELOW

LOCATION STRATEGY IS A SIGNIFICANT COMPONENT of an organization’s broader corporate strategy. Decisions concerning the choice of location tend to be long term, global, multidimensional and carry high levels of financial commitment and risk. While the goal of leveraging location as a competitive advantage is not a new concept, the site selection process itself has become increasingly complex over time.

Emerging factors such as globalization, a shortage of specialized labor, evolving environmental regulations, the need to be closer to customers and suppliers and changing incentives have expanded the realm of crucial considerations. Data proliferation doesn’t simplify the site selection process. Instead, it demands a higher degree of objectivity, analytics and experience to make the right location decision.

While it’s worthwhile to understand that the site selection process is a substantial undertaking, it’s not an impossible task; leaders who educate themselves on the key issues are able to avoid common obstacles and pitfalls. Here are five questions all leaders should ask when launching a location strategy initiative:

1 DO WE HAVE THE RIGHT TEAM?

Tackling a location strategy project effectively requires an experienced and cross-functional team with specific technical skills and diverse subject-matter expertise. The team may vary depending on the type of real estate asset an organization seeks to build or relocate. A corporate headquarters may have a slightly different mix of team members than a manufacturing plant or an R&D center. In general, a well-rounded team will consist of top talent from human

resources, cost accounting, finance, supply chain/logistics, tax, engineering, real estate/construction and representation from the business units most impacted by the project. Some organizations may also choose to augment their teams with external consultants to help steer the process, provide objectivity and experience and deliver the rigorous data analysis required for these studies. Assembling the right team upon project kickoff enables an organization to gain awareness and understand all the factors and implications involved in a decision.

In addition to the right experts, enterprise-level decisions involve C-Suite engagement and consensus. Some teams fail to involve top leadership until the final stages of a site selection study, which could result in a lack of agreement, stalled decisions and additional work. Selecting an executive sponsor and a steering committee early helps promote buy-in and ensures that top leadership is well aware of the hypotheses, approaches and assumptions that ultimately influence the business case. The location choice can have a profound impact on an organization’s financial results, culture, image and talent strategy. Ensuring the team builds consensus helps to enlist executive leaders as champions for the decision—an essential precursor to an effective transition to the new site.

2 ARE WE PRIORITIZING THE RIGHT THINGS?

Take, for example, a family that’s in the market for a new home. Their search criteria will be unique to the family’s specific needs, timeline and priorities. Some factors will be easily quantifiable, such as commute times and proximity to schools, while other factors, such as the architectural style of the home, may be more qualitative. Each search for a new

STRUCTURING A COMPLEX LOCATION DECISION IN FIVE STEPS: DISCOVER What criteria do we need alignment on to shape our location decision?

ASSESS How can we identify locations that align with long-term goals?

VALIDATE What is the reality of operating in candidate locations?

NEGOTIATE What financial and other incentives may be available in the location and can those be used as leverage during negotiations?

SELECT How do we transition to a final location and develop an execution plan?

home has its own unique set of considerations; this is also true of the corporate site selection process.

When an organization decides to launch a site selection initiative, whether for a new operation or relocation, the site selection team should determine the project’s key success factors using a hypothesis-based approach. It’s important that the site selection team and executive sponsor are completely aligned on these critical location factors (CLFs) and their relative weighting as this sets the direction for the data collection and analysis moving forward.

Site selection teams should think broadly and exhaustively about all the factors and issues that may contribute to the success of the operation. Teams are often tempted to limit these factors to data that are readily available and quantifiable, such as published average labor costs or tax rates. However, relying on limited data may increase the likelihood that the search will result in a suboptimal location outcome, as a successful ramp-up and cost-effective, longterm operation are dependent upon a myriad of variables that should be assessed among candidate locations.

In a similar attempt to gain speed and efficiency, teams may also eliminate regions and narrow the search area too rapidly prior to vetting all the location options. To help reduce rash decisions, the site selection team should implement an agreed-upon process for eliminating locations. This will help teams objectively determine if an option is viable.

For example, there will be instances where a candidate location exhibits fairly equal advantages and disadvantages. It’s often best to retain these borderline options, as the subsequent and deeper levels of analysis may result in new insights and alter the relative ranking of locations.

When building the initial set of criteria, teams tend to overemphasize economic development incentives too early and treat these benefits as a primary driver in the overall analysis. State and municipal incentives, while perhaps an important tie-breaker between finalist communities, can’t make up for a lack of skilled talent, operating risks, access to customers and suppliers and other vital needs. CEOs should ensure that the team isn’t too fixated on incentives at the cost of operating-cost advantages, issue-free development and long-term access to talent.

A site selection study shouldn’t take place in a silo and should be a logical extension of an organization’s overarching corporate strategy. There should be complete transparency about what is driving the location strategy—is it a cost-reduction initiative, market expansion or an opportunity to diversify risk? A successful site selection project should be compatible with the long-term vision of the organization, and the holistic set of CLFs should steer the study in the right direction.

3 DO WE WANT OUR PROJECT TO REMAIN CONFIDENTIAL?

Most organizations have several good reasons to keep the site selection process under wraps. Analysts, media, vendors, employees, competitors, government authorities and other players tend to seize on the news of a corporate location search and can introduce a high level of noise and distraction, both for the project team and executive leadership. However, a few recent mega-projects have made the conscious choice to launch their site searches with public announcements, perhaps seeking to leverage media attention to bring additional gravitas to their project during negotiations.

The question of confidentiality is an issue leaders should confront early on, as it merits reflection and debate. CEOs should confront the potential benefits and drawbacks of “going public” with a major site selection: What could be gained and lost? How will each constituency react? Here’s a brief overview of the main trade-offs:

POTENTIAL PROS OF GOING PUBLIC Encourages communities to self-select in or out of the process Appeases a wide array of political influencers Provides the appearance of open competition Accelerates the introduction of incentives into the process

POTENTIAL CONS OF GOING PUBLIC Increases complexity and workload for the team (i.e. more submissions) Introduces submissions bias early in the process Produces a perception of “auctioning” the project Affects the morale of existing employees Erodes relationship with eliminated locations Results in unnecessary responses and effort from locations that will not win

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IS OUR PROCESS BRINGING THE RIGHT LEVEL OF RIGOR? The data leveraged in a site selection study drives the quality of the final outcome. Low-quality data sources and poor data manipulation can lead to a suboptimal decision. Many teams believe the prevalence of online information will simplify the research and analysis phase but fail to understand that not all data is of equal relevance or accuracy.

As suggested earlier, a hypothesis-based approach helps to outline the data required to effectively assess location options. Once a team is focused on the right success factors, the subsequent steps of knowing what data sources to use and what boundaries or thresholds to set are the next milestones.

Common labor data sources include the Bureau of Labor Statistics, the U.S. Census and other state or government data providers. While this data can be useful as a high-level indicator of talent presence, the team should understand the assumptions used to generate this data, as they may have an impact on the site selection outcomes. There are numerous other labor data sources, including social media sources, for example, that can offer a deeper and more useful set of information about an area’s talent market and skill availability.

Regardless of where the data comes from, conducting a data quality test and questioning reliability, frequency of collection and the age of the data is a necessary starting point.

Once reliable data is collected, it should be properly applied to yield strong results. Establishing boundary conditions and thresholds for retaining and eliminating locations is a complex task, as even the slightest adjustments can result in completely different outcomes. One way to arrive at realistic boundary conditions is through competitive benchmarking.

This involves understanding where and how the organization’s most successful competitors are operating and what variables may be influencing their success. Another common approach is leveraging team members with deeper experiences in site selection to provide guidance on setting thresholds and boundaries.

Not all data will be neatly packaged and ready for use.

Sometimes additional manipulation is required to make a data set more useful and aligned to the CLFs. Site selection teams should go beyond the basics to develop a deeper understanding of the options on the table. For example, in a labor market analysis, the obvious variables are labor cost and availability.

However, many other factors, such as turnover, demographics, commuting patterns and activity from competitors, can impact the labor market in a given location. Teams should deepen their knowledge around core topics such as labor market supply and demand, tax implications, infrastructure and specific site conditions to avoid surprises and mitigate risk.

In addition, the site selection team should not limit their efforts to mining only published data; conducting primary research to eliminate research gaps is recommended to help gain a deeper understanding of the top three to five communities. This should include interviews with employers and

recruiting agencies as well as detailed site and community inspections to provide an additional layer of due diligence and collect insights that are tailored to the organization’s priorities.

Throughout this process, all assumptions and data choices should be clearly documented so executive sponsors, the board and other stakeholders can easily review the methodology and decisions that led to the final shortlist and recommendation.

5

HOW ARE WE MAINTAINING COMPETITION FOR OUR INVESTMENT? Proper site selection can only be achieved when competition among locations and real estate options persists throughout the process. Once a location or property owner believes that they are the winner, leverage in negotiations erodes quickly.

Maintaining competition for an investment and job creation project will be a key determinant in the negotiated outcome for both incentives and real estate concessions.

There are a few leading practices that site selection teams should follow to help drive the most effective location decision: 1. Keep the external messaging consistent—the other side will likely be trying to ascertain its positioning and where the site selection team’s preference lies. Consistency in messaging is critical among all parties, including any external advisers who may unknowingly reveal which location is preferred.

2. Don’t let real estate negotiations get ahead of incentives negotiations, as this is one of the easiest ways to lose leverage.

3. Ensure that a viable and suitable backup alternative (community and site) is available for the project at all times and is fully vetted. The leading practice involves having two top choices through the incentives and real estate negotiations process.

REALIZING OPERATING ADVANTAGES FOR YEARS TO COME Few corporate decisions have as far-reaching impact as the choice of operating locations. Site selection directly affects an organization’s P&L and balance sheet, as well as its ability to attract talent, serve customers, mitigate risks and enjoy structural cost advantages over its competitors. The importance of the CEO’s oversight of the location process can’t be overstated. With the numerous strategic demands on CEOs, only a small percentage are likely to choose to be directly involved in each location decision. For the rest, asking the right questions to challenge the site selection team can help improve the chances that the company will make an optimal deployment decision that will yield operating advantages for years to come.

Darin Buelow is Principal and Real Estate and Location Strategy practice leader at Deloitte Consulting LLP. He can be reached at dbuelow@deloitte.com

ABOUT DELOITTE Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (DTTL), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the U.S. member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

Did you look beyond the obvious?

A sound location strategy is a critical component of a company’s overall business strategy. As such, careful consideration of site selection up front can help ensure that your organization’s real estate footprint will serve future generations for years to come and, ultimately, help drive profits. From country analysis to detailed labor market and site due diligence, Deloitte’s Location Strategy practice brings rigor, objectivity, and multi-disciplinary analytics to corporate location decisions.

Learn more: www.deloitte.com/us/locationstrategy

Copyright © 2017 Deloitte Development LLC. All rights reserved.

THE NEW

OPPORTUNITY Millennial migration and lower living costs are turning often-overlooked locales into Goldilocks options for businesses looking to thrive. A guide.

BY JOEL KOTKIN

8 2018 CEO GUIDE TO SITE SELECTION

A CENTURY AGO DETROIT WAS A BOOMTOWN and Los Angeles a sleepy refuge for sun-seeking Midwesterners. A half-century later, L.A. was the fastest-growing big city in the high-income world, while Detroit was beginning its long tailspin. In the ’70s, New York was the “rotten apple” and seemed destined for further decline. But for the past 20 years it has enjoyed an enormous surge of wealth, as have many of the countries’ dense, culturally creative cities.

In other words, when it comes to the death and life of American cities, things change, often in unpredictable, once unthinkable ways. Now, high prices and a lean to the left in the nation’s coastal metropolises could spell new opportunity for more business-friendly, less costly regions like Dallas-Fort Worth and Salt Lake City. If current trends continue, there may be new hope not only for Midwestern cities like Columbus, Indianapolis and Kansas City, but

BOOMTOWNS even for some long down-on-their-luck metros, like Detroit and Cleveland.

The post-recession economy favored many dense urban centers like New York, Boston, San Francisco and Seattle, which just a quarter century ago seemed unable to grow jobs or population.

Even less successful big metros, such as Chicago and Los Angeles, experienced something of a surge in the central core, despite substandard overall economic performance.

Several factors paced the growth of the “superstars,” notably the surge in the number of educated millennials headed for dense urban areas. The extreme concentration of venture capital in a handful of cities, led by the Bay Area, which on its own accounts for nearly half of the VC world, followed by New York, Boston and Southern California, helped these places dominate growth in tech over the past decade. A post-recession boom in the stock market also paced

growth, particularly in New York, but also in the affluent suburban regions surrounding these cities.

This has created something of a celebratory meme that suggests only elite cities can compete successfully in a globalized economy, leaving the rest to lag behind. Yet, as longtime urban booster Richard Florida and others note, the big city boom may be coming to an end.

FALLING STARS? In some ways this tapering effect reflects the extent of their success. Virtually all the superstars, with the exception of Chicago, have seen a rapid ascent in housing prices, chasing people out of these metros.

In the Bay Area, for example, 74 percent of millennials plan to leave, according to the Urban Land Institute. Even in Seattle, still a major lure for young people, many younger residents are now looking outside the city as they get ready to buy houses

FALLING STARS Expensive and best suited to global businesses and “executive headquarters.” Beneficiaries of the earlier “back to the city” movement, these places are becoming victims of their own success.

NEW YORK • CHICAGO • SAN FRANCISCO • LOS ANGELES • SEATTLE

2018 CEO GUIDE TO SITE SELECTION

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OPPORTUNITY BOOMTOWNS This is where the action is. Generally sprawling, less expensive, with lower taxes and home prices.

These are the fastest-growing locales, with a strong entrepreneurial appeal.

DALLAS-FT. WORTH • CHARLOTTE, NC • NASHVILLE • AUSTIN • SAN ANTONIO • PHOENIX • DENVER • HOUSTON • PITTSBURGH • PHILADELPHIA • MADISON, WI • CHARLESTON, SC • FARGO, ND

or raise families. Chicago is also facing an exodus, exacerbated by crime and a desultory economy.

This demographic challenge will grow as more millennials enter their 30s. The fastest growth in millennial migration is taking place not in New York, Washington and Los Angeles, but in cities like Charlotte, Houston and Austin. Immigrants, too, may be looking elsewhere; Los Angeles, long a major center for entrants, has seen its annual immigration rate fall by nearly two-thirds this decade.

These trends are likely to grow as job growth and startups slow in places like the Bay Area and New York. Since 2010, for example, Manhattan and Brooklyn’s population growth has dropped 90 percent. No surprise then that many of those leaving New York, California and other blue havens are people in their mid-30s to their early 50s, precisely the age when people start families, buy houses and launch businesses.

To these issues, add strong progressive politics in many of the nation’s biggest cities, including higher minimum wages, threats of new wealth taxes and an ever more stringent regulatory environment. This could prompt many firms to seek other locations.

The Amazon search for a second headquarters (I am working on Kansas City’s bid) may presage expansion to other locales, even among firms that may remain headquartered in the superstars.

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THE RISE OF THE OPPORTUNITY BOOMTOWNS So where is the next generation of talented people and innovative companies most likely to go? The fastest growth in educated millennials today is taking place not in New York, Washington or San Francisco, but in opportunity cities like Nashville, Denver, Charlotte, Raleigh and Orlando, as well as the Texas metros outside of Houston, which has been slowed, at least for now, by low oil prices and hurricane Harvey.

Growth in tech and professional services in these areas suggest a new trend. At a time when tech growth has slowed in the Bay Area—down by 80 percent over the past two years, according to Chapman University economist Jim Doti—it has been surging in many of these cities. Since 2014, says Mark Schill, vice president of the Praxis Strategy Group, the fastest growth in tech jobs has taken place not in San Francisco, but in Charlotte. Nashville, Raleigh, Indianapolis, Phoenix, Denver and Salt Lake City all grew their tech ranks faster than such superstars as New York, Los Angeles and Chicago.

Despite the much-ballyhooed shift in small executive headquarters to some core cities, the fastest growth in professional services is increasingly not Chicago and New York but up-and-comers like Nashville, Austin, Charlotte and San Antonio. In financial services, there is a rapid “decentralization” from highcost markets like San Francisco and New York to more

ON THE MOVE They have not caught on as boomtowns but show potential. This includes many cities in the Midwest, where there’s a lot happening and prices are more moderate.

KANSAS CITY • OKLAHOMA CITY • COLUMBUS • INDIANAPOLIS

affordable places like Nashville, Dallas, Salt Lake, Charlotte and Phoenix.

Demographic trends could drive this further as millennials and young families struggle with ultra-high costs. In New York City, millennial incomes (ages 18–29) have dropped in real terms compared with the same age cohort in 2000—despite considerably higher education levels—while rents increased 75 percent.

New York, Los Angeles and San Francisco have three of the nation’s four lowest homeownership rates for young people and among the lowest birthrates.

According to Zillow, for workers between 22 and 34, rent costs claim up to 45 percent of income in the Los Angeles, San Francisco, New York and Miami metropolitan areas, compared with closer to 30 percent of income in metros like Dallas-Fort Worth and Houston. Even more stark is the difference in home prices.

In Dallas-Fort Worth (the nation’s fastest-growing housing market) as well as Houston, San Antonio and Charlotte, prices can be just one-third of those in the superstar cities.

Urbanist author Derek Thompson suggests that cities like New York are wonderful for new immigrants, hipsters and the ultra-rich, but “not a great place for middle-class families.” Yet young families, not single hipsters, will now be increasingly critical to urban success. The opportunity cities are also bolstering their appeal to millennials and young families by focusing

on urban amenities and walkable suburban areas while maintaining policies that keep housing prices relatively low.

THE NEW WANNABES As cities in Texas, the Intermountain West and even the Southeast grow, they become more exposed to higher housing prices and, in some cases, stronger anti-business sentiment. This could prove good news for a host of cities, many of them longtime economic laggards that could become the next opportunity cities.

Many of these cities, largely in the Midwest, enjoy significant advantages. Their large, but still affordable central cores and suburbs, notes Chicago-based analyst Pete Saunders, attract millennials. These metro regions often boast great legacy resources, such as universities (Ohio State), hospitals (Cleveland Clinic) and high concentrations of engineering talent, such as that found in Detroit. These, in turn, are attracting educated millennials from urban cities like New York to places like Ohio’s Cuyahoga County, which now enjoys a net surplus in educated millennials from Kings County, home to Brooklyn, New York.

This is beginning to occur with tech jobs. Cities such as Detroit, Kansas City and Indianapolis are all growing tech employment faster than New York or Los Angeles and enjoy more employment in this critical sector per capita. In professional service growth,

2018 CEO GUIDE TO SITE SELECTION

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GREAT AGAIN Hard-hit but rebounding cities that retain powerful assets, including low housing prices, great universities and hospitals are great bets for the right companies.

DETROIT • CLEVELAND • CINCINNATI • BALTIMORE • MILWAUKEE

Kansas City ranks second among the largest metros.

Superstar cities like to brag about being “ideopolises,” but both talent and innovation are mobile and capable of heading to less congested, costly and far less celebrated environments.

Midwestern cities increasingly also offer companies a business-friendly environment, including “right to work” laws that limit unionization. Virtually all, except for laggard Illinois, are run by Republican governors and legislators. These places are not likely to impose the kind of regulatory or tax policies that flourish in the superstars and even some opportunity cities.

The ability to accommodate young families could also prove crucial. Metropolitan areas such as Kansas City, Columbus, and Indianapolis combine strong economic growth with low costs.

The pro-manufacturing agenda of the Trump Administration, as epitomized by the Foxconn plant being built in southeastern Wisconsin, could be a plus in places like Detroit and Cleveland, devastated by the erosion of factory jobs and straining to cope with severe social dysfunction, most notably high crime. What the wannabes offer companies and individuals is a place where one can live decently in the urban core, and then later find an affordable home in a nice suburb, which two-thirds of millennials prefer— the youth to middle-aged life cycle, once common in places like the Bay Area, Southern California and many parts of the Northeast.

LEFT BEHIND? Not all metros have a clear path to recovery, much less any prospect of ascending towards superstar

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status. Many smaller towns across the country, largely in the Midwest, have lost much of their economic base, a trend that includes the movement of firms like Caterpillar from cities like Peoria, Illinois, to the suburbs of Chicago. These parts of Trump’s America, notes analyst Aaron Renn, himself a native of southern Indiana, continue to lose population, becoming ever older and whiter as their ambitious young head elsewhere.

But not all smaller metros are hurting. Some smaller towns are benefiting from “on-shoring” of services that were once in East Asia and India.

Places that have retained their largest companies —for example the Fayetteville, AR-MO region that is home to Walmart—continue to gain new migrants and jobs at among the highest rates in the country.

Price pressures and aging millennial populations, as well as advances in telecommunications, could make some smaller cities more attractive over time.

What is certain is change. Just as places like New York arose from decades of torpor, so too may many other places around the country; even unlikely metros in the Midwest could re-emerge.

America’s typology of prosperity is protean and will continue to be so, forcing CEOs, investors, workers and policy-makers to re-examine their models to fit ever-changing conditions.

Joel Kotkin is the presidential fellow in urban futures at Chapman University and executive director of the Center for Opportunity Urbanism. His most recent book is The Human City: Urbanism for the Rest of Us

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Indiana Rising A stellar business climate is turning Indiana from the Crossroads of America to the “State Where Things Get Done.”

INDIANA IS ON A ROLL IN ECONOMIC DEVELOPMENT. It ranked as the No. 5 Best State for Business by Chief Executive for 2017 and fares increasingly well in other stateto-state comparisons. Indiana already has become what former Gov. Mitch Daniels, now president of Purdue University, called the “best sandbox for businesses to play in.”

Now, Indiana’s goal under Gov. Eric Holcomb is to create America’s best climate for doing business, bar none, and to harness the robust economic and job growth that will result. Global competitors, including Eli Lilly, Cummins and Cook Medical, are spreading their wings from longtime bases in Indiana, while others, including Salesforce, Subaru and Infosys, have been digging in and spreading roots. Meanwhile, home-grown startups, such as Angie’s List, Beck’s Hybrids and Aerotronic, are validating their decisions to grow in Indiana.

“Indiana is the best-kept secret in the country,” says Bob Stutz, CEO of Salesforce Marketing Cloud, which became a primary employer in Indianapolis after acquiring ExactTarget in 2013. “There’s a lot of talent to pick from.

There’s a great work environment for our people and a great quality of life.”

The state’s “reputation as a low-tax, company-friendly environment makes it a good place to do business, to place new investment and to secure future jobs and work,” agrees Phil Burkholder, president of Rolls-Royce Defense North America, which has been making aircraft propulsion systems in Indiana for decades.

Business leaders like Indiana for a number of reasons.

Low taxes, reasonable regulations. Indiana’s corporate income tax rate is just 5.75 percent for 2018, and is on

its way down to a scheduled 4.9 percent by 2021. Indiana’s property-tax rate is fixed, and the state is ranked No. 4 in the 2018 Tax Foundation property tax index. And at 3.23 percent, Indiana’s flat individual income tax rate is by far the lowest among all states contiguous to it.

Indiana’s regulatory environment was ranked No. 4 by Forbes for 2017. What’s more, state and local officials are acutely responsive to the concerns of individual businesses.

Global-caliber talent: Indiana uniquely blends the most highly concentrated and experienced manufacturing workforce in America with a growing stream of new, technologically savvy graduates of top-flight colleges and universities in the state. CEOs are impressed with the numbers and level of talent coming out of Indiana University, Purdue University, Notre Dame, Butler, the Rose-Hulman Institute of Technology and other schools, including twoyear vocational colleges.

Growing workforce. If anything, Indiana needs even more qualified workers to fill the thousands of new jobs being created. “People are moving into the state, which is helping us address that concern,” Secretary of Commerce Jim Schellinger says.

Workforce development is also under way. The state has launched a Next Level Jobs program that includes two major new initiatives—Workforce Ready and Employer Training grants—to help Indiana companies find and keep qualified employees. Gov. Holcomb also recently created a new cabinet post, Secretary of Career Connections and Talent, to underscore its importance.

Affordable costs. CNBC ranked Indiana No. 2 among states for the cost of doing business. Land across the state is readily

HighPoint Global CEO Ben Lanius says the local talent pool in Indianapolis was a “big and crucial” factor in his decision to launch there in 2006.

Rolls-Royce designs, develops and tests engines at its Indianapolis facility.

available and relatively inexpensive. Businesses wanting to locate or expand physically in the state have plenty of reasonably priced sites to choose from. And employees enjoy access to affordable housing and reasonable commutes.

Endemic entrepreneurship. Innovation and entrepreneurship are native to Indiana, and continue to flourish there. Steve Case, co-founder of America Online and now an investment banker, made Indianapolis one of only a half-dozen stops on his 2017 “Rise of the Rest” tour that invests in and highlights the digital potential in Flyover Country.

Gov. Holcomb wants to make the entire state a digital “hub.” In 2016, Indiana launched $100 million in initiatives for each of the next 10 years, aimed innovation and entrepreneurship programs from the grade-school level to the arena of growing businesses.

Unbeatable logistics. Logistics are a huge lure for business. Indiana literally is the nation’s crossroads, within a 12-hour drive of two-thirds of the U.S. population. And Gov. Holcomb has committed to spending an additional $500 million a year on roads for each of the next 12 years.

The Indianapolis International Airport, ranked the No. 1 U.S. domestic airport again this year by Condé Nast, is adding transatlantic flights in 2018. Indiana even has four state-of-the-art ports that support transoceanic trade on Lake Michigan and the Ohio River.

International orientation. The state first made a strong commitment to recruiting companies from abroad under Gov. Robert Orr in the 1980s, when Indiana opened

economic development offices in Japan and other countries. Today, more than 200 Japanese-affiliated plants dot Indiana.

The Holcomb administration has continued this emphasis. Infosys, an Indian IT company, plans to open its first U.S. technical center in Indianapolis. And in November, Holcomb, Schellinger and others trekked to India to discuss investing in the Internet of Things and other technologies with companies there.

Consistent, responsible governance. Indiana is ranked No. 1 in the US News & World Report Best States for Government for 2017. The state has a budget surplus of more than $1.8 billion and is one of only eight currently in the black. Among other things, this means there’s virtually no threat to Indiana businesses that their state taxes will rise.

Furthermore, administrations, beginning with Daniels, continuing with former Gov. Mike Pence (now U.S. vice president) and extending on through to Gov. Holcomb have followed a continuous vision and consistent strategy. “It’s so important because we’ve never stopped; we’ve never let up,” says Schellinger, a Democrat appointed by the last two governors.

Crucial intangibles. Other, less quantifiable factors play a role as well. There’s the famed Indiana work ethic, along with a Midwestern “niceness” that CEOs who do business in the state praise. “People are very genuine and authentic,” says Larry Gigerich, managing director of Fishers, Indiana-based Ginovus, an economic development consulting firm. “You know where you stand. And people work hard, because they want to do a good job. You don’t find that in all areas of the country.”

There’s a matching determination by state government to help businesses leverage all these positives. “Every unit of state government has an eye on making sure we’re a business-friendly state,” Schellinger says. “It’s all about economic development and turning over every stone.”

Consider Indiana exposed. “For a long time, Indiana was one of those well-kept secrets in terms of our business environment and climate,” says Gerry Dick, host of television’s “Inside Indiana Business.” “I think the secret is out now.”

ADVANCED MANUFACTURING in Indiana

A robust talent pool gives Fort Wayne’s Wayne Metals an edge in precision manufacturing.

FORT WAYNE METALS PRODUCES PRECISION WIRE-BASED materials for medical and industrial applications, and business is so good that the company is set to invest $12 million in new equipment for making products out of stainless steel, titanium alloys and other materials. Not only that, but the company exports about one-third of its sales.

No wonder other states in the Midwest and all over the country have been courting CEO Scott Glaze. “What I tell

them is we’ve been able to get the talent we need here in Fort Wayne, Indiana, and an infrastructure that works for us in terms of power and transportation,” he says. “And we can find people with mechanical aptitude here, so we’re able to keep a very good cadre of employees.” Indeed, about 75 of the company’s 1,000 or more employees are engineers.

Indiana educational institutions and companies have been doing a better and better job of expanding the advanced manufacturing sector in the state. A report in 2016 from state-affiliated groups found that 53 percent of Indiana manufacturing jobs are in advanced manufacturing.

Of those 240,000 or so jobs, 17 percent are STEM-related, 25 percent are white-collar, and 58 percent are blue-collar, according to Michael Hicks, director of the Ball State University Center for Business and Economic Research.

Glaze has been expanding Fort Wayne metals and adding employees as the company finds new markets. The state has granted tax abatements, and Glaze has applied for a package of training grants and other forms of assistance as the company continues to expand.

AEROSPACE in Indiana NEERAV SHAH COULD HARDLY BELIEVE IT WHEN his company won a chance to showcase its drone-borne sensory platforms at the fabled Farnborough International Airshow in London in 2016. But Indiana got him there.

“Having a booth there would have been entirely prohibitive for us cost-wise,” says the founder of Indianapolis-based Aerotronic. “But the state put its resources with ours and those of other companies, and we were able to do it.”

According to PwC, Indiana is now the most attractive state in the nation for aerospace manufacturing, home to companies responsible for developing cutting-edge drone technologies, jet-lift systems and missile launchers. In fact, Indiana’s aircraft and space exports have increased by about 30 percent a year for the last 15 years.

Raytheon depends on its 1,600 employees in Indianapolis and Fort Wayne for hardware, software, systems engineering, production, environmental testing and qualification for “critical missions technology and innovation for the U.S. military,” says Rimas Guzulaitis, senior product line director for platform systems. The giant defense contractor relies on more than 300 Indiana suppliers, research incentives by the state, cooperative relationships with governments and a “business atmosphere that is positioned for growth,” Guzulaitis says.

As Raytheon discusses expanding its cyberwarfare operations in Indiana, the company also is counting on a bountiful flow of digital talent. “Indiana is positioned with premier universities all within 250 miles of Indianapolis,” he says.

Rolls-Royce in 2016 celebrated a century in Indiana after

Rolls-Royce develops advanced aerospace technology in its facilities in and around Indianapolis.

announcing it is investing nearly $600 million into its Indiana research and operations, marking the company’s largest U.S. investment in a decade. “When we were considering where to make [our]” largest U.S. investment, “Indianapolis and the state of Indiana worked with us as partners to ensure we had what we needed to be successful,” says Phil Burkholder, president of Rolls-Royce Defense North America. State and city leaders “truly appreciate what we do as a company, the high business value we bring to our community and our high-tech, highly skilled employees.”

Shah reports that the state is continuing to support Aerotronic, whose platforms can help with everything from offshore oil rig inspections to searching for a missing toddler in an Indiana cornfield. Launch Indiana is a state program that introduced Shah to an experienced business mentor and helped him obtain advice from consultants in finances, marketing and other disciplines.

AGRIBUSINESS in Indiana BECK’S HYBRIDS IS THE LARGEST FAMILY-OWNED RETAIL seed company in the U.S., and CEO Sonny Beck is “thankful” his grandfather settled and built the company near Atlanta, Indiana. State government in Indiana has “reduced the paperwork, the bureaucracy” over the last eight years “down to where you can get an answer and get it in a reasonable amount of time,” Beck says. “Indiana has the regulations that matter to protect the environment. We work with a lot of other states and have facilities in six others, and we like Indiana because it’s a state that works for you all the time—and doesn’t annoy you every other month.”

Beck’s is a key part of an Indiana agribusiness sector that contributes more than $31 billion to the Hoosier gross state product annually, with about 108,000 jobs supported by agricultural production, processing and related activities. The sector accounted for about $5.7 billion in exports in 2016.

Every 10 years for about eight decades, Beck’s has tripled in size. It now employs about 600 people in Indiana, testing and developing seeds from suppliers worldwide and helping farmers select the right seed lines and make the most of them, reports Beck, who also enthuses about affordable living for his employees. “Labor is less expensive, yet people still have a good standard of living because housing costs aren’t what they are on the coasts,” he says.

“Indiana leads in so many of these categories that are crucial to business survival.”

Increasingly, being able to attract and retain an ade-

quate supply of digital talent is important to Beck’s business. “Farmers believe in us, and—whether it’s seed corn, soybeans cover crops, wheat and clovers, grasses—we help them do Beck’s Hybrids taps Indiana’s digital precision farming for the talent pipeline to develop seeds. modern era,” he says.

To support its initiatives in software-supported farming, Beck’s is tapping into a stream of digital talent that’s emerging from Indiana colleges and universities.

So is United Animal Health. Formerly named JBS United, this privately held, major force in Indiana agribusiness provides swine nutrition and related livestock services in 26 countries. Based in Sheridan, Indiana, United employs about 350 people and generates hundreds of millions of dollars in annual revenue. The company has grown in size, scope and sophistication as the demand for pork bellies—manifested in bacon consumption—has skyrocketed.

United is part of a cluster of major agricultural training and expertise in central Indiana.

The company “always focused on hiring college graduates and well-trained people for our sales force,” says Doug Webel, CEO. “And it’s a real easy place to get people to move to, especially if they’re leaving Illinois. Today, we not only attract people to Indiana, but they end up staying.”

AUTOMOTIVE in Indiana

Subaru is investing $100 million to upgrade its Lafayette, Indiana, complex.

SUBARU ONCE HELPED OTHER JAPANESE AUTOMAKERS by producing some of their cars in Indiana. But Subaru’s own growing success in the U.S. market—nine consecutive years of increased sales—means the company has had to stop filling capacity with Isuzus and Hondas and Toyotas in favor of assembling only new Subaru models at its 28-year-old complex in Lafayette, Indiana.

The next new Subaru to be built there: Ascent, a three-row SUV and the largest vehicle Subaru has ever built. To add Ascent output in the spring, Subaru is spending about $100 million and hiring an additional 200 workers, bringing the plant to about 5,800 employees for the first time. About 8 percent of the plant’s annual output of more than 350,000 vehicles is exported to Canada and elsewhere.

“We still have room to grow further” in Lafayette, says Tom Easterday, senior EVP of Subaru, who oversees Subaru of Indiana. “That’s how most of the auto plants in this state look at things, because they’ve all been expanding too—and have the potential to expand more.”

Indeed, as the U.S. auto industry has enjoyed an eight-year boom coming out of the Great Recession, Indiana may have gained most. Its output comprises the

Cook Medical added a 900-square-foot high-tech facility to its Bloomington, Indiana, presence.

second-largest automotive GDP of any state, contributing more than $15 billion to the economy and employing more than 100,000 Hoosiers at five major automaker facilities, at recreational vehicle operations, and at hundreds of supplier plants.

Cummins, headquartered in Columbus, Indiana, is one of the biggest and most important auto suppliers, producing a wide range of diesel and alternative-fueled engines and electrical generator sets and components, with more than 6,000 employees. The company will celebrate its centennial in 2019.

“Our company is as Indiana as Indiana is our company,” says Tom Linebarger, Cummins’ CEO. “We’re a global company, too, but our values and roots are tied to this place, and the way we think about what’s important to stakeholders comes out of our growth here.”

But it’s more than legacy that keeps Cummins anchored and growing in Indiana. There’s the deep and talented manufacturing-skill base and a growing digital talent pool, a vibrant cadre of business professionals, a sturdy and modern infrastructure—and a helpful government.

“It’s really important that the place where we are wants to support business growth and development,” Linebarger says. “Indiana has a very strong notion that supporting business growth, in order to see jobs grow and wages grow and education continue to increase, is an important part of the government’s role.”

Leclanche is one new company attracted by Indiana’s robust automotive sector. The Swiss energy storage solution company decided to open its first U.S. research center in Anderson, Indiana, with eventual plans to begin manufacturing there.

“Indiana’s got the talent pool, especially in manufacturing and the battery world, that could help us quickly,” says Thom Reddington, Leclanché’s U.S. general manager.

LIFE SCIENCES in Indiana IN TODAY’S INDIANA, CHOICE BUSINESS LOCATIONS don’t go idle for long. Consider that Cook Medical—after growing over 54 years into a $2.5 billion company that employs about 2,500 people in its hometown of Bloomington— recently bought a facility down the street from its headquarters that used to house a GE refrigerator plant.

“It’s about 900,000 square feet and 70 acres,” says Pete Yonkman, president of Cook Medical and parent Cook Group. “We’re going to convert it into a high-tech life sciences manufacturing facility. That’s our way of doubling down on Bloomington and Indiana. We’re excited about turning it into a source of pride for the community.”

Like Cook, the entire life sciences sector across the state is booming. In the areas of drugs, pharmaceuticals, medical devices and equipment and agricultural feedstocks and chemicals, Indiana is a national employment leader, ranking No. 8 in the U.S. for bioscience-related patents granted in 2016.

The state is also home to the global headquarters for Anthem and Dow AgroSciences, and to the North American headquarters for Roche Diagnostics, Beckman Coulter, Boston Scientific, Covance, Express Scripts, Mead Johnson and Medtronic. Eli Lilly, based in Indianapolis, is one of the world’s largest drug makers. Zimmer Biomet and DePuy Orthopaedics headquarters make Warsaw, Indiana, the orthopedic device capital of the world.

To sustain these businesses, it’s imperative that Indiana “be a location that can attract and retain employees at a global level,” says Tim Hassinger, CEO of Lindsay, based in Omaha, Nebraska, who until late 2017 was the chief of Dow AgroSciences. Headquartered in Indianapolis, Dow AgroSciences develops improved seeds and crops and offers other products and services to enhance agriculture. After Dow and DuPont announced a merger of equals in 2015, Hassinger found crucial sup-

port for Dow AgroSciences in Indiana state government.

“They were highly engaged and highly responsive to what we said our critical needs would be to grow our business in Indiana,” Hassinger recalls. Assists included tax incentives to keep Dow AgroSciences jobs in Indianapolis and helping get foreign registration for a U.S. product.

Cook Medical’s most pressing need is being able to hire several thousand more highly qualified employees over the next decade. Cook started its own education assistance program but is relying on help from the state as well. “We’re working hard to partner with the state’s institutions to make sure we can get the rest of the highly trained folks that we

need over time,” Yonkman says. “That’s one advantage of the workforce and of the education system in Indiana.”

Indiana’s life sciences ecosphere also supports startups such as Micropulse, a contract manufacturer of sterile packaging and service provider for large medical-equipment manufacturers.

“The state of Indiana and local government have been extremely supportive in a lot of ways,” says Brian Emerick, founder of the Fort Wayne-based company, including granting tax credits and awarding $2 million to fund a technology that one of Micropulse’s incubator companies licensed from Purdue University.

TECHNOLOGY in Indiana WHEN CALIFORNIA’S SALESFORCE acquired ExactTarget in 2013, Indianapolis suddenly became the company’s second-largest hub. “It was significant for us being a major player in the high-tech industry—Salesforce defined the cloud and started the trend to it—making a major investment in a place like Indianapolis,” says Bob Stutz, CEO of Salesforce Mobile Cloud.

With a Microsoft background and experience at several high-tech havens, Stutz came to Indy to run the largest technology company in the state. He quickly embraced its “tech scene, vibrant culture, beautiful homes and unlimited potential,” as he posted in a blog, as well as its “booming economy, affordable living and business-friendly environment.”

In 2017, Salesforce affirmed its presence in Indianapolis by buying the Chase Bank tower downtown, rechristening it Salesforce Tower and moving many of its 1,600 area employees into the building. The company also committed to training and placing 500 apprentices in the Indiana tech economy by 2020.

By fall 2017, Salesforce was using an Indy-style race car sitting in the lobby of its California headquarters to help recruit staffers to move to Indianapolis. “Now we’ve got not only our people, but people from other companies saying, ‘Can you tell us a bit more about what you’re doing in Indianapolis?,’” says Stutz.

Similarly, San Francisco-based Genesys has been pleased with its experience after acquiring Indianapolis-headquartered Interactive Intelligence in 2016. “We can recruit really good talent, with a good pipeline from the universities, as well as from industry,” says Paul Segre, CEO of the customer service software giant.

The pool of digitally accomplished workers in Indianapolis helped Angie’s List become a giant of the online home contractor referral business and one of the city’s biggest employers. It laid off people in 2017 in a merger of equals with HomeAdvisor, but ANGI Homeservices plans to re-expand locally.

“The caliber and quality of the Indianapolis workforce is one of the big reasons,” says Mark Howell, a top executive

Indianapolis-based High Point Global attracts talent from Boston and Dallas.

of Angie’s List until the end of 2017. “Not just the skill set, but their work ethic, values and culture. They have a great ownership mentality. And there’s a great sense of community engagement.”

Indiana officials also worked with HomeAdvisor’s California-based parent company, IAC, to grease the skids for more growth in Indianapolis. “They’ve been working with the airport to get more direct flights,” says Howell. “[They’re] also working to develop office space, create parking and just make it easier for the new company to hire, house and develop people.”

Being in the same vertical, Ben Lanius hopes that the company he co-founded and heads in Indianapolis, HighPoint Global, reaches Genesys-type heights. HighPoint helps government call centers improve the citizen experience. “The local talent pool is big and crucial,” says Lanius, who established HighPoint in 2006. “But we’ve also got people moving here to be part of our company from the likes of Dallas, Boston and Atlanta.”

Entrepreneur Donald Brown can well understand why tech companies treasure the capabilities of Indiana. He founded two Indiana-based tech companies that became giant enterprises, Software Artistry and Interactive Intelligence. Recently Brown launched a third: LifeOmic, a biotech software company, which analyzes genome data.

The success of his companies helped create a pool of digital and medical technology talent in the area. “We’re blessed with a nice concentration of people with experience in building tech companies, and we’ve been successful over the years in hiring people out of Indiana University, Purdue, and Rose-Hulman—which is a little-known gem,” Brown says.

“I’d put these teams up against anybody in the world.”

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A CEO’S GUIDE TO SITE SELECTION

Alabama TAXES 6.5% flat corporate tax

#35 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 87% of students graduated high school in 2016

23.5% of adults age 25

to 64 have a bachelor’s degree or higher

UNEMPLOYMENT RATE 3.6%, less than national average of 4.1% RIGHT TO WORK STATE

Yes QUALITY OF LIFE 6.66 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 1.7% increase between 2010 and 2016

“I want to elevate Alabama’s success in business recruitment, and working closely with our economic development team will be a top priority of my administration.” —Gov. Kay Ivey

HIGHLY ENGAGED WORKERS

BIG DEALS

A recent Gallup survey found that Alabama has the most engaged workers of any state in the country. This excitement is being fueled by workforce investments, strong economic growth and an influx of high-paying jobs. In January 2017, Alabama initiated its Accelerate Alabama 2.0 program to focus on trends in advanced manufacturing and other sectors. It identifies recruitment and retention initiatives, and the state has restructured seven regional workforce councils made up of companies and educational institutions in those regions.

• An Alabama Department of Commerce New & Expanding Industry Report noted there were 68 auto projects in Alabama in 2016, with nearly $1 billion in new capital investments.

KEY INCENTIVES Alabama Reinvestment and Abatements Act: Offers abatement of non-educational portion of sales and use taxes on construction materials and property taxes for up to 20 years.

Jobs Act Incentives: Offers a cash refund of up to 3% of the previous year’s gross payroll for up to 10 years.

Investment Credit: Offers up to 1.5% of the qualified capital investment expenses for up to 10 years.

Port Credit: Awarded to a company engaged in manufacturing, warehousing or distribution that uses the state’s ports and is based on increased cargo volume.

EDCs Economic Development Association of Alabama edaa.org Economic Development Partnership of Alabama edpa.org Alabama Department of Commerce madeinalabama.com Birmingham Business Alliance birminghambusinessalliance.com HIGHLIGHTED PROGRAM OR INITIATIVE Apprenticeship Alabama offers tax credits to companies that hire qualified apprentices who receive classroom or industry-specific instruction and on-the-job training.

• Medical device company Baxter completed a $270 million expansion project in August 2017 to double the size of its facility in Opelika.

• Autocar announced in September 2017 a $120 million investment and creation of 750 jobs in a Birmingham truck manufacturing plant.

• Georgia-Pacific announced in September 2017 a $100 million lumber production facility in Talladega, with 100 full-time employees.

BIG COMPANIES Mercedes-Benz Honda Hyundai Toyota Boeing Airbus Georgia-Pacific One Fortune 500 company headquartered in state: Regions Financial C-SUITE TESTIMONIALS “New Flyer of America is proud to expand our leadership role in evolving public transportation with buses engineered and built right here in Alabama.” —Wayne Joseph, President, New Flyer of America “These are exciting times for our Alabama facility as we prepare to take on this new challenge to build the next generation of SUVs....

Mercedes-Benz became the first auto manufacturing plant to build vehicles in Alabama more than 20 years ago, and since that time, other automakers and suppliers have joined us.” —Jason Hoff, President and CEO of Alabama operations, Mercedes-Benz U.S. International “With this new million-square-foot plant in Birmingham and our new local employees, we’ll better meet the needs of our existing customers and be able to engineer new specialized products for different applications and markets.” —Jim Johnston, President, Autocar

2018 CEO GUIDE TO SITE SELECTION

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A CEO’S GUIDE TO SITE SELECTION

Arizona TAXES 4.9% corporate income tax #21 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 77% of students graduated high school in 2016 28% of adults age 25 to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE 4.5%, greater than national average of 4.1% RIGHT TO WORK STATE Yes QUALITY OF LIFE 7.89 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 8.4% increase between 2010 and 2016

“Arizona is increasingly a destination for businesses large and small.

As businesses compare states, searching for high quality of life, light regulations, low taxes, good financing and qualified workers, the Office of Economic Opportunity will be there to help communicate the advantages Arizona has to offer.” —Gov. Doug Ducey

A GROWING HUB OF FINANCIAL SERVICES

BIG DEALS

While Arizona has historically been known for manufacturing, mining and trade with Mexico, its capital city is quickly, and quietly, becoming a major hub for financial services. A recent study by real estate services firm CBRE found that Phoenix is the second-largest market for advanced business services in the financial sector. Nearly 174,000 residents (8.7% of the population) work in financial activities, an increase of 22% since 2010.

• Lucid Motors announced in December 2016 it would create 2,000 new jobs at its first luxury electric vehicle manufacturing facility in Casa Grande.

KEY INCENTIVES Qualified Facility Tax Credit: Refundable tax credit of up to 10% of qualifying capital investment, $20,000 per net new job or $30 million per taxpayer per year for location of manufacturing facilities or manufacturingrelated R&D headquarter facilities.

Quality Jobs Tax Credit: Offers tax credit of up to $9,000 on state income tax over a three-year period for each net new quality job.

Arizona Job Training Program: Job-specific reimbursement of up to 75% of eligible training expenses for net new jobs.

R&D Tax Credit: Offers a nonrefundable income tax credit for basic research payments made to universities under the jurisdiction of the Arizona Board of Regents.

• HR service provider ADP announced in November 2016 it would create 1,500 new jobs at its new location in Tempe.

• Raytheon announced in November 2016 it would create nearly 2,000 new jobs over a five-year period at its Missile Systems business headquarters in Tucson.

• Caterpillar selected Tempe as the new location for its surface mining and technology offices in May 2016 and announced the creation of 600 new jobs.

• Benchmark Electronics announced in April 2017 it would relocate its corporate headquarters from Angleton, Texas, to Tempe and add 500 new jobs.

BIG COMPANIES Wells Fargo Intel Honeywell International Bank of America Raytheon American Express Apple

Arizona Association for Economic Development aaed.com

Four Fortune 500 companies headquartered in state: Avnet Freeport-McMoRan Republic Services Insight Enterprises

Arizona Commerce Authority azcommerce.com

C-SUITE TESTIMONIALS

EDCs

Greater Phoenix Economic Council gpec.org Southeast Arizona Economic Development Group saedg.org Arizona Regional Economic Development Foundation aredf.org HIGHLIGHTED PROGRAM OR INITIATIVE Chief Science Officers was founded in Arizona and has been a national model to foster knowledge of an interest in STEM careers by students grades 6 through 12.

“The move to Arizona helps position the future growth of Benchmark by allowing us to consolidate our corporate headquarters staff in a single location, expand our engineering capability through a partnership with Arizona State, position us closer to our growing aerospace and defense customers and serve as a foundation to expand our existing precision technology business.” —Paul Tufano, President and CEO, Benchmark Electronics “The strong support we received from state and local organizations is essential to our expansion plans and will help provide Raytheon with the workforce and infrastructure to meet the growing demand we are seeing from our customers.” —Taylor W. Lawrence, President, Raytheon Missile Systems

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CHANGE THE GAME AND STILL HAVE TIME TO PLAY IT.

Arizona’s commitment to keeping government out of the way of business innovation and growth is a game-changer for many companies. Business leaders select Arizona for its culture of innovation, top talent, and affordability. Yet more than just the ideal place for business, Arizona is a great place to live. With seemingly endless sunny days, year-round outdoor activities, and a positive attitude, our spirit is as boundless as our opportunities. It’s this perfect balance that makes life better here.

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A CEO’S GUIDE TO SITE SELECTION

Arkansas TAXES 6.5% top corporate tax #39 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 87% of students graduated high school in 2016 21% of adults age 25 to 64 have a bachelor’s degree or higher

BIG AGRICULTURE TO BIG INNOVATION

BIG DEALS

As a small, rural state known for its agriculture industry, Arkansas is rapidly broadening its economy to one of technology and innovation.

The state has seen a number of high-profile corporate headquarters relocations and investments in recent years as companies continue to leave high-cost places like San Francisco, Boston and Silicon Valley. While 14,000 people are employed at Walmart’s headquarters, the activity has also given birth to a robust IT sector fueled by such companies as Tata Consultancy, Cognizant and UST Global.

• Nucor announced in September 2016 it would construct another $230 million cold mill at its Nucor Steel Arkansas location and add 80 jobs with an average annual salary of $80,000.

KEY INCENTIVES

UNEMPLOYMENT RATE 3.6%, less than national average of 4.1%

Advantage Arkansas: Offers a state income tax credit for job creation based on number of permanent employees hired. Workers must be paid at least $10.99 per hour; tax credit is earned for five years and is limited to a max of 50% of a business’s tax liability.

RIGHT TO WORK STATE Yes

ArkPlus: Provides tax credits of 10% of the total investment in a new location or expansion project.

QUALITY OF LIFE 5.86 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 2.5% increase between 2010 and 2016

“Our business missions to China, along with ongoing work to build relationships with the country’s business leaders, have now resulted in numerous companies from China announcing plans to locate operations in Arkansas.”

—Gov. Asa Hutchinson

Create Rebate: Negotiated and offered at the discretion of the Arkansas Economic Development Commission and provides cash rebates based on a payroll of at least $2 million per year.

Targeted Business Incentives: Range of incentives in the manufacturing, agriculture, food and biosciences sectors for investments of at least $250,000 that meet the payroll requirements.

EDCs Arkansas Economic Development Commission arkansasedc.com Arkansas Economic Developers & Chamber Executives aedce.org Association of Arkansas Development Organizations arkansaseconomicregions.org Little Rock Regional Chamber littlerockchamber.com

• Chinese firm Shandong Ruyi Technology Group announced in May 2017 it would invest $410 million in the former Sanyo manufacturing facility in Forrest City and create 800 jobs.

• TeleTech announced in June 2017 it would construct a new customer experience center in Morrilton and add 350 jobs.

• Canadian manufacturer DBG announced in August 2017 it would establish a U.S. headquarters in Conway.

BIG COMPANIES Seven Fortune 500 companies headquartered in state, including: Walmart Tyson Foods Murphy USA Dillard’s J.B. Hunt Transport C-SUITE TESTIMONIALS “Ruyi Group, as the largest textile manufacturer in China, has been expanding globally. Our manufacturing facility in Arkansas will become the first milestone of Ruyi’s steps into the United States. We are dedicated to provide the product with cutting-edge technology and superior quality.” —Yafu Qui, Chairman, Shandong Ruyi Technology Group “The acquisition of Navistar’s former IC Bus operations allows us to be part of a growing community, provides us with a strong experienced workforce, increases our technical capabilities and diversifies our product offering....

We are excited that our research has led us to Conway.” —Mike De Biasi, CEO, DBG “We are excited to bring this expansion to Arkansas that will enable us to efficiently produce products beyond that of any North American mill.” —Mary Emily Slate, Vice President and General Manager, Nucor Steel

HIGHLIGHTED PROGRAM OR INITIATIVE

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The new Arkansas Business and Technology Accelerator Act created a $2 million accelerator grant program for startup companies and will seek out corporate sponsors to provide matching funds to create accelerator events throughout the state.

12/6/17 11:05 AM

IF YOU ASK TO SPEAK TO THE MANAGER, THIS IS WHERE WE TRANSFER YOU. Governor

Some states say they’re serious about economic development. Arkansas is proving it with a dedication that goes all the way to the top. Our governor, Asa Hutchinson, is actively involved in attracting and keeping business in our state. To find out more about the sites, incentives and infrastructure that are making Arkansas home to today’s business, go to ArkansasEDC.com/asa or use the LayAr app on your smartphone. Then, let’s get to work.

ArkansasEDC.com/asa 1-800-ARKANSAS

A CEO’S GUIDE TO SITE SELECTION

California

“During the last seven years, California has reduced the unemployment rate from 12.1% to 5.2% and created almost 2.5 million jobs.”

—Gov. Jerry Brown

TAXES

A RETURN OF AUTO MANUFACTURING

BIG DEALS

8.84% corporate

The state’s automotive manufacturing sector has grown by 22% since 2011, driven by direct access to the Pacific Rim and one of the country’s top talent pools. The market started to truly turn around when Tesla established its headquarters that year and made Palo Alto the base of its manufacturing operations. Since then, legacy car companies such as Ford, Honda, Mazda and GM have returned and made large investments in their new technology divisions.

Chinese company BYD, which opened a factory in Lancaster in 2013 to construct electric buses, is working on a second-phase expansion that will add thousands of additional square feet and more jobs.

• Germany-based Dräxlmaier Group announced in October 2016 it will invest $24 million to establish an electric vehicle manufacturing plant in Livermore.

income tax

#48 on the Tax

Foundation’s State Business Tax Climate Index ranking

EDUCATION 83% of students graduated high school in 2016

31% of adults age 25

to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE 4.9%, greater than national average of 4.1% QUALITY OF LIFE 6.57 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 5.4% increase between 2010 and 2016

KEY INCENTIVES

• China Sunergy announced in February 2017 it will create 200 new jobs and construct a 140,000-square-foot manufacturing facility in Sacramento County.

• GM announced in April 2017 it will invest $14 million and create 1,100 new jobs at a new R&D development facility for Cruise Automation in San Francisco.

• Google announced in June 2017 a plan to build an eight-million-square-foot campus in downtown San Jose and create up to 20,000 jobs.

California Competes Tax Credit: Flexible tax credit negotiated by GO-Biz for companies that meet certain job creation and investment amounts.

• Facebook announced in July 2017 it will construct a mixed-use development with 1,500 housing units at its Menlo Park headquarters.

California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) Sales and Use Tax Exclusion (STE): Offers a full sales tax and use exclusion for manufacturers of alternative sources and advanced transportation products or those using recycled feedstock.

BIG COMPANIES

Manufacturing and R&D Equipment Exemption: Offers partial exemption of sales and use tax on certain manufacturing and R&D equipment purchases and leases.

EDCs California Governor’s Office of Business and Economic Development business.ca.gov Los Angeles County Economic Development Corp. laedc.org San Diego Regional Economic Development Corp. sandiegobusiness.org San Francisco Center for Economic Development sfced.org Greater Sacramento Economic Council selectsacramento.com HIGHLIGHTED PROGRAM OR INITIATIVE The California Made program is designed to encourage consumer product awareness and to promote the purchase of products made in the state.

53 Fortune 500 companies headquartered in state, including: Apple Wells Fargo Disney Cisco Systems Oracle HP Facebook Gilead Sciences Qualcomm eBay Netflix Tesla C-SUITE TESTIMONIALS “We are excited to significantly expand our footprint in California and continue our rapid growth trajectory....Accessing the world-class talent pool that the San Francisco Bay Area offers is one of the many reasons we plan to grow our presence in the state.” —Kyle Vogt, CEO, Cruise Automation “Our plant in Livermore will play a key role in supporting our customers in California. We are delighted about the opportunity to grow with our customers, as well as to expend our presence in the Americas.” —Barbara Bermeier, Board Member and Head of Operations, Dräxlmaier Group

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Colorado TAXES 4.6% corporate income tax #18 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 79% of students graduated high school in 2016 38% of adults age 25 to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE 2.7%, less than national average of 4.1% QUALITY OF LIFE 7.54 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 10.2% increase between 2010 and 2016

“Today, 8 of the 10 fastest-growing economies in the country are west of the Mississippi. And we want to be the best of the West and of the nation. The best state for jobs, the best state for business and the best place to live.”

—Gov. John Hickenlooper

A CAPITAL FOR CYBERSECURITY

BIG DEALS

Cybersecurity is one of Colorado’s fastestgrowing industries, with more than 100 purely cybersecurity-based companies in the state employing more than 85,000 people. Last year, Colorado Springs became the home of the newly established National Cybersecurity Center. The state also continues to be viewed nationally as a lab experiment for legalized recreational marijuana. According to the Colorado Department of Revenue, the industry sold $1.3 billion in medical and recreational marijuana in 2016, generating close to $200 million in tax revenues.

• BP announced in December 2016 it would establish its new Lower 48 headquarters in Denver.

KEY INCENTIVES

• Western Union announced in August 2017 it would relocate its headquarters to the Denver Tech Center.

Job Growth Incentive Tax Credit: Provides a state income tax credit to businesses undertaking projects that create at least 20 jobs with annual wages of at least 100% of the average county wage.

Strategic Fund: Offers job creation incentives of up to $5,000 per job for jobs with average annual wages of 140% of the average county wage.

Colorado First Customized Job Training Program: Offers up to $1,200 per employee in training that can be provided by one of Colorado’s community colleges, a provider of the company’s choosing or an in-house trainer.

Enterprise Zone Tax Credits: Numerous investment and workforce tax credits for companies operating in economically distressed areas.

• Amazon announced in January 2017 it would open a one-million-square-foot fulfillment center and create 1,000 jobs in Aurora.

• Smuckers announced in January 2017 it would construct a $340 million manufacturing facility in Longmont and create 250 jobs to produce its Uncrustables snacks.

• Vertafore announced in May 2017 it would relocate its headquarters from Bothell/Seattle to Denver and hire up to 500 new employees.

BIG COMPANIES HealthONE Lockheed Martin CenturyLink Liberty Tax Service United Airlines Charter Communications 10 Fortune 500 Companies headquartered in state, including: DaVita Western Union Arrow Electronics DISH Network C-SUITE TESTIMONIALS

EDCs Colorado Office of Economic Development and International Trade choosecolorado.com Economic Development Council of Colorado edcconline.org Upstate Colorado Economic Development upstatecolorado.org Northern Colorado Economic Alliance northerncolorado.com Metro Denver Economic Development Corp. metrodenver.org HIGHLIGHTED PROGRAM OR INITIATIVE Colorado Innovation Network (COIN) is a public-private partnership and virtual network of more than 2,000 global leaders that support the state’s innovation ecosystem, new companies and job creation.

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“This new plant to be built at the foot of the Rockies will ensure we can continue to meet increasing demand across the country. We are thrilled to build our first manufacturing facility in Colorado and greatly appreciate the support we have received for this exciting project from officials representing Longmont, Weld County and the state of Colorado.” —Mark Smucker, President and CEO, J.M. Smucker Co. “With two-thirds of our operated oil and natural gas production and proved reserves in the Rockies, world-class universities nearby and a wealth of industry expertise in the region, Denver is a logical and strategic place for us to be and a natural fit for our business.”

—David Lawler, CEO, BP Lower 48

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Connecticut TAXES 9% effective tax

#44 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 88% of students graduated high school in 2016

A MANUFACTURING SURGE

BIG DEALS

Connecticut is seeing strong growth in manufacturing. Three large organizations, Electric Boat, Pratt & Whitney and Sikorsky, have all announced major expansions in the state in the past few years. Pratt & Whitney alone will hire an additional 8,000 people in the state to meet a $1 trillion backlog of work. State government also recently created a manufacturing innovation fund that will offer financial support for apprenticeships, internships and training.

• Lockheed Martin subsidiary Sikorsky Aircraft announced a long-term deal to maintain its headquarters in the state to receive up to $220 million in tax credits and grants from 2019 to 2032.

KEY INCENTIVES

38% of adults age 25 to 64 have a bachelor’s degree or higher

First Five Plus: Provides financial assistance agreements, loans and tax credits to companies creating 200 jobs in two years or investing $25 million and creating 200 jobs in five years.

UNEMPLOYMENT RATE 4.5%, greater than national average of 4.1%

Manufacturing Assistance Agreement: Offers low-interest and forgivable loans for expansion initiatives for mid-sized companies.

QUALITY OF LIFE 6.15 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 0.1% increase between 2010 and 2016

“Our state is home to cutting-edge industries that are in the growth and innovation sectors, and we have one of the most in-demand talent pools in the nation, with an educated and skilled workforce that is second to none and guided by some of the country’s top educational institutions."—Gov. Dannel Malloy

• AQR Capital Management announced in November 2016 it would invest $72 million in expanding its headquarters and add 600 new jobs in Greenwich.

• SCA Pharmaceuticals announced in May 2017 it would construct a 90,000-square-foot manufacturing facility and create 365 jobs in Windsor.

• Amazon announced in June 2017 that it will construction a $255 million, 855,000-square-foot distribution center and add 1,800 new jobs in North Haven.

BIG COMPANIES

Urban and Industrial Site Reinvestment Tax Credit Program: Dollar-for-dollar tax credit of up to 100% of capital investment with a minimum investment of $5 million in distressed communities and $50 million in all other communities.

Electric Boat Sikorsky Travelers Eversource UnitedHealthcare

EDCs

19 Fortune 500 companies headquartered in state, including:

Department of Economic and Community Development ct.gov/ecd Connecticut Economic Development Association cedas.org Connecticut Economic Resource Center cerc.com MetroHartford Alliance, Economic Development metrohartford.com/economic-development HIGHLIGHTED PROGRAM OR INITIATIVE Technology Talent Fund supports strategies and initiatives to grow and fill IT jobs in the state. It is working to expand internship opportunities for students interested in technology careers and to strengthen college and university curriculums to meet industry needs.

United Technologies Aetna Cigna Xerox Praxair C-SUITE TESTIMONIALS “The state provides a unique combination of an educated and skilled workforce with a high quality of life that is important to technology companies like ours.” —Josh Geballe, CEO, Core Informatics “We have found a great talent pool in the state of Connecticut to help us achieve [our] mission....Our Stamford employees are the face of the company to hundreds of thousands of our customers and helped lay the groundwork for our global expansion.” —Dave O'Neil, CFO, Indeed “In addition to our cable operations in Connecticut, access to the talent base, the transportation infrastructure and the proximity to other media headquarters and financial markets made Stamford a logical alternative.”

—Tom Rutledge, CEO, Charter Communications

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Delaware TAXES 8.7% corporate income tax (plus gross receipts tax)

#15 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 85% of students graduated high school in 2016

30% of adults age 25

to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE

4.8%, greater than

national average of 4.1% QUALITY OF LIFE 6.36 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 6.0% increase between 2010 and 2016

“Alongside Mayor Purzycki, we’re working hard to invest in infrastructure in our city, which will help create jobs, improve travel and spur economic development.”

—Gov. John Carney

LEVERAGING PUBLIC-PRIVATE PARTNERSHIPS

BIG DEALS

The state is striving to pull its economy from slow growth through innovation, entrepreneurship and public-private initiatives. The University of Delaware recently received a $250 million grant from the Department of Commerce and other entities to house the National Institute for Innovation in Manufacturing Biopharmaceuticals.

State officials say it could help spur biopharmaceutical manufacturing in the state. JPMorgan Chase also recently opened its Global Technology Hub in Wilmington.

• JPMorgan Chase announced in October 2015 it would be expanding its workforce in Delaware by bringing in an additional 1,800 employees to the Wilmington area.

KEY INCENTIVES Delaware Strategic Fund: Provides lowinterest loans and grants to businesses for job creation, relocation, expansion and brownfield redevelopment.

New Economy Jobs Tax Credit: Provides a value calculated against a portion of total payroll for companies that contribute high-paying jobs to the state economy.

Blue Collar Job Act: Offers credits against corporate or personal income taxes, gross receipts tax and public utility tax for businesses that hire five or more employees, invest at least $200,000 and operate in a qualified facility.

Delaware New Jobs Infrastructure Fund: Offers economic assistance for renovation, construction or any other improvements to roads, utilities or infrastructure to attract new business to Delaware.

EDCs Delaware Economic Development Office dedo.delaware.gov Wilmington Economic Development Corp. wedco.org Delawareans for Environmental & Economic Development deedworks.org HIGHLIGHTED PROGRAM OR INITIATIVE Delaware STEM Council aims to grow the number of students, especially women and minorities, in the state who pursue degrees and careers in STEM fields.

• After the merger of Dow and DuPont in December 2016, DowDupont announced it would headquarter its agriculture company and specialty product business in Wilmington.

• Del Monte Fresh Produce announced in spring 2017 that it would place its newest and most advanced distribution center in Newark.

• Sallie Mae announced in August 2017 it would grow its presence in New Castle by nearly 200 employees.

BIG COMPANIES Mountaire Farms Amazon Perdue Farms Allen Harim Foods AztraZeneca U.S. M&T Bank Chemours Two Fortune 500 companies headquartered in state: DowDupont Navient C-SUITE TESTIMONIALS “This area provides access to an outstanding workforce, easy access for our corporate partners and interaction with a thriving economic and scientific community.”

—Richard Birkmeyer, CEO, CD Diagnostics “Since choosing to open our labs in Delaware more than 10 years ago, Incyte has achieved many milestones, and we appreciate the ongoing encouragement of state officials, the technology-friendly environment and tremendous local talent.” —Paul A. Friedman, former CEO, Incyte “We are eager to draw again from this talented local workforce as we continue to grow the business.” —Raymond J. Quinlan, CEO, Sallie Mae

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Florida TAXES 5.5% flat corporate tax

#4 on the Tax

Foundation’s State Business Tax Climate Index ranking

EDUCATION 81% of students graduated high school in 2016

30% of adults age 25

to 64 have a bachelor’s degree or higher

UNEMPLOYMENT RATE 3.6%, less than national average of 4.1% RIGHT TO WORK STATE

Yes

QUALITY OF LIFE 7.95 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 9.6% increase between 2010 and 2016

“While Florida is continuing to compete with other locations for new jobs, our newly established $85 million Florida Job Growth Grant Fund will help encourage even more job creators to invest in creating new opportunities across Florida.”—Gov. Rick Scott

MANUFACTURING SHINES

HIGHLIGHTED PROGRAM OR INITIATIVE

Florida is home to more than 19,000 manufacturing businesses that employ more than 330,000 workers. Lockheed Martin currently has nearly 1,000 employees working on various projects along the “Space Coast” and has announced it will move more workers from California to Florida in 2018 and 2019.

In the northwestern part of the state, Eastern Shipbuilding in Panama City recently announced the addition of 2,000 jobs to support a $10.5 billion contract to build more than two dozen U.S. Coast Guard cutters.

STEMflorida supports Regional STEM Collaboratives (RSCs) across the state’s eight economic development regions, identifies key strategic priorities and fosters collaboration with regional partners and stakeholders.

KEY INCENTIVES

• Amazon announced plans in January 2017 to construct a second fulfillment center in Jacksonville, adding another 1,000 jobs to the 4,000 the company currently employs in the state.

Quick Response Training (QRT): Offers reimbursable training expenses for instructor wages, curriculum development and materials for new or expanding businesses.

Capital Investment Tax Credit (CITC): Annual credit for up to 20 years against the corporate income tax to cover costs related to the acquisition, construction and equipping of a project with at least $25 million in capital costs that will create 100 jobs.

Qualified Target Industry Tax Refund (QTI): Offers refunds on corporate income, sales and other taxes for companies that create high-wage jobs in high-value industries.

Economic Development Transportation Fund: Offers awards up to $3 million based on investment and jobs for companies to alleviate a transportation problem that might impact their expansion decision.

BIG DEALS • HAECO Americas expanded in Lake City in July 2016 with 400 new jobs.

• Eastern Shipbuilding Group in Panama City won a $10.5 billion contract in 2016 to build two dozen U.S. Coast Guard cutters.

• KPMG announced in January 2017 its intent to build a state-of-the-art learning and innovation facility on a 55-acre campus in Orlando.

• In July 2017, Walmart opened a 2.2-millionsquare-foot fulfillment center in Davenport, part of a $450 million investment in Florida facilities.

BIG COMPANIES 17 Fortune 500 companies headquartered in state, including:

Enterprise Florida enterpriseflorida.com

Publix World Fuel Services Tech Data AutoNation CSX Office Depot Hertz Global Holdings Darden Restaurants Ryder Systems Raymond James Financial

The Beacon Council (Miami-Dade) beaconcouncil.com

C-SUITE TESTIMONIAL

EDCs

Orlando Economic Partnership orlandoedc.com Tampa Hillsborough Economic Development Corp. tampaedc.com Economic Development Commission of Florida’s Space Coast (EDC) spacecoastedc.org

“This move gives us access to Florida’s strong talent pool and allows us to continue the strategic expansion of our business. Our company culture is at the core of our business success, our client’s satisfaction and the happiness of our people. We are excited to bring those guiding principles to Tampa.”

—Rock Silvestri, President, BlueLine Associates

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Georgia TAXES 6.0% corporate tax (plus a net worth tax)

#36 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 79% of students graduated high school in 2016

29% of adults age 25 to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE 4.3%, greater than national average of 4.1% RIGHT TO WORK STATE

Yes QUALITY OF LIFE 7.80 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 6.4% increase between 2010 and 2016

“Once companies plant roots here in Georgia, they seem to grow at impressive rates, thanks in part to the business-friendly climate we have carefully cultivated and our highly skilled workforce.”

—Gov. Nathan Deal

THE SOUTHEAST'S FINANCIAL HUB

BIG DEALS

Atlanta has been building on its long-held position as a financial and commercial center.

More than 70% of the financial transactions in the U.S. are routed through home-based payment processors such as World Pay, First Data and Global Payments. In recent years, Atlanta has become one of the country’s top Fintech capitals. The area is home to 90 Fintech companies employing more than 30,000 people.

• Tech solutions provider Switch announced in May a $2.5 billion investment in a data center in Douglas County.

KEY INCENTIVES Mega Project Tax Credit: Incentives for businesses that employ at least 1,800 net new employees and have a minimum payroll of $150 million or make a minimum $450 million investment.

Investment Tax Credit: Offers tax credits of up to 8% of qualified capital investments of $50,000 or more for manufacturers or companies in telecom that have operated in the state for at least three years.

Work Opportunity Tax Credit: Offers up to $9,000 per hire for companies that hire individuals who have faced barriers to employment.

EDCs Georgia Department of Economic Development georgia.org Savannah Economic Development Authority seda.org Northwest Georgia Joint Economic Development Authority northwestgeorgia.us Augusta Economic Development Authority augustaeda.org HIGHLIGHTED PROGRAM OR INITIATIVE The Georgia Department of Economic Development’s Workforce Division’s Trade Five initiative focuses on enhancing the talent pipeline in the five key industries of construction, manufacturing, telecommunication, energy and logistics.

• Irving Consumer Products announced in August 2017 it would create 200 jobs and develop a $400 million tissue manufacturing facility in Macon-Bibb County.

• Home goods manufacturer and distributor Safavieh announced in August 2017 it would create 200 new jobs and invest $60 million in a distribution facility in Chatham County.

• Online fashion and beauty retailer ASOS announced in August 2017 it would build a $40 million e-commerce fulfillment center and add 1,600 jobs in Union City.

BIG COMPANIES 17 Fortune 500 companies headquartered in state, including: Home Depot United Parcel Service Coca-Cola Delta Air Lines Aflac Southern Co. C-SUITE TESTIMONIALS “Switch is extremely excited to bring the highest rated data center to the greater Atlanta metro to serve as a hub for the southeastern United States....We look forward to becoming active members of the Atlanta community and supporting the growth of the vibrant tech environment throughout the state.”

—Adam Kramer, Executive Vice President of Strategy, Switch “Atlanta is an ideal location for us; it is a vibrant and growing international city with a diverse culture. We will use the region’s transportation network and deep pool of talent to deliver ASOS best-in-class service to U.S. customers.”

—Brent Dorfman, Vice President of Logistics, ASOS “We are pleased that the state of Georgia and the Georgia Ports Authority continue to invest in infrastructure which enables our expansion and allows us to create even more quality jobs in the region.” —Darius Yaraghi, Principal, Safavieh

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Idaho TAXES 7.4% corporate income tax

#20 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 80% of students graduated high school in 2016

26% of adults age 25

to 64 have a bachelor’s degree or higher

UNEMPLOYMENT RATE 2.9%, less than national average of 4.1% RIGHT TO WORK STATE

Yes QUALITY OF LIFE 8.08 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 7.4% increase between 2010 and 2016

COMPANIES FUELING GROWTH IN BOISE

BIG DEALS

Boise-based Albertsons has grown from fewer than 200 stores to more than 2,300 locations and $60 billion in annual sales in only five years.

Other companies headquartered in the area, including SuperSaver Foods, WinCo, Simplot and Heartland Recreational Vehicles, have also seen robust growth. Boise has invested more than $1 billion in public and private projects such as the new Simplot headquarters, City Center Plaza and JUMP (Jack’s Urban Meeting Place, a nonprofit community center).

• Radio technology company Jelli opened new offices in June 2017 and expanded its operations in Boise with 92 new jobs paying average wages of $50,400.

KEY INCENTIVES Idaho Tax Reimbursement Incentive: Offers a tax credit of up to 30% on income, payroll and sales taxes for up to 15 years for companies that create 20 jobs in rural areas and 50 jobs in urban areas.

Idaho Opportunity Fund: Offers funding at the discretion of the Idaho commerce director for infrastructure improvements to accommodate a new commercial or industrial facility.

Idaho Business Advantage: Offers a wide range of tax credits, sales tax rebates and property tax exemptions for businesses that invest at least $500,000 and create 10 new jobs averaging at least $40,000 per year.

Idaho Investment Tax Credit: Offers 3% tax credit on all new depreciable, tangible personal property used in Idaho.

EDCs Idaho Economic Development Association iedassociation.com Idaho Commerce commerce.idaho.gov Boise Valley Economic Partnership bvep.org Southern Idaho Economic Development Organization southernidaho.org Regional Economic Development Eastern Idaho easternidaho.org HIGHLIGHTED PROGRAM OR INITIATIVE Idaho Global Entrepreneurial Mission funds commercialization research where Idaho’s universities and business experts partner to bring new technologies to market.

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"Idaho emerged from the Great Recession stronger than ever....We’re not a state that throws money at business attraction, but we have targeted, performance-based incentives, inexpensive power, a great work ethic and among the most stable, business-friendly tax and regulatory climates in the country.” —Gov. Butch Otter

• Albertsons announced 300 new jobs in September 2016 with average annual wages of $71,000.

• McCain foods announced 186 new jobs and a $281 million expansion of its state-of-the-art facility in Burley in May 2017.

• Vista Outdoor announced 137 new jobs and a $99 million capital investment to expand its ammunition manufacturing capacity in Lewiston.

BIG COMPANIES WinCo Foods J.R. Simplot Chobani Lamb Weston Idaho National Laboratory Two Fortune 500 companies headquartered in state: Micron Technology Albertsons C-SUITE TESTIMONIALS “Our team here is proud to call Boise home.

The roots of our company were strengthened by the Idaho workforce from the first day Mr. Albertson opened his 16th and State store.”

—Andrew J. Scoggin, Executive Vice President of Human Resources, Albertsons “The support from both the state and the county, along with a passionate and skilled workforce, were motivating factors in our decision to expand the Lewiston operation.”

—Mark DeYoung, Former Chairman and CEO, Vista Outdoor “With an expanding tech presence and a flourishing community and culture, Boise was the ideal choice for Paylocity’s newest location.

We look forward to building a team in Boise to help us on our mission to elevate payroll and HR professionals from the backroom to the boardroom.” —Steve Beauchamp, CEO, Paylocity

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Illinois TAXES 7% corporate income tax (plus 2.5% personal property replacement tax)

#29 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 86% of students graduated high school in 2016

32% of adults age 25

to 64 have a bachelor’s degree or higher

UNEMPLOYMENT RATE 4.9%, greater than national average of 4.1% QUALITY OF LIFE 4.96 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 0.2% decrease between 2010 and 2016

"Our people and location make Illinois the best state in the country, and I am focused on expanding Illinois’s role in global markets to strengthen our economy and to increase the amount of quality jobs available for Illinoisans.” —Gov. Bruce Rauner

BANKING ON DIRECT FOREIGN INVESTMENT

BIG DEALS

The city of Chicago alone is now home to 1,800-plus foreign-based companies with more than $100 billion in direct foreign investment.

In Des Plaines, German pharma manufacturer Vetter is planning a one-million-square-foot, $320 million facility. The state is now launching an “aggressive” foreign direct investment strategy to expand that growth, says Mark Peterson, president and CEO of Intersect Illinois.

“What we’re focused on now is growing what we already have and tapping that chain to attract new companies.”

• German company Vetter Pharma announced in July 2016 a $320 million production facility and 300 new jobs in Des Plaines.

KEY INCENTIVES EDGE Tax Credit: Offers tax credits to companies that have an out-of-state option and agree to invest at least $5 million in capital improvements and create at least 25 jobs in Illinois.

High Impact Business (HIB) Program: Offers various incentives for companies that invest a minimum of $12 million and create 500 full-time jobs.

Enterprise Zone (EZ) Program: Offers sales tax exemption on building materials and equipment, utility tax exemption, investment tax credit and jobs tax credit for businesses operating in an established EZ. Exemptions: No state tax on personal property, and property and payroll are not apportioned into corporate income tax.

Export Assistance: Illinois’s State Trade and Export Promotion program (ISTEP) offers companies financial and technical assistance to increase their exports.

EDCs Illinois Department of Commerce and Economic Opportunity illinois.gov/dceo/Pages/default.aspx Illinois Economic Development Association ileda.org Intersect Illinois intersectillinois.org World Business Chicago worldbusinesschicago.com

• Fiat Chrysler Automobiles announced in July 2016 it would invest $350 million and add 300 jobs at its plant in Belvidere.

• Electric automobile start-up Rivian Automotive announced in January 2017 a $175 million investment and 1,000 new jobs at a plant in Normal.

• Amazon has opened multiple distribution centers in Illinois the past couple of years, investing more than $355 million and creating more than 4,500 jobs.

BIG COMPANIES 50 Fortune 500 companies headquartered in state, including: Walgreens Boots Alliance Boeing State Farm Insurance Archer Daniels Midland Caterpillar United Continental Holdings Allstate Exelon C-SUITE TESTIMONIALS “The city continues to attract an incredible talent pool, and our new headquarters enables us to recruit top talent, better service our clients and deepen our roots in Chicago.” —Dan Wagner, Founder and CEO, Civis Analytics “This world-class environment will continue to drive business momentum by getting us even closer to customers, encouraging innovation and ensuring great talent is excited about where they work.” —Steve Easterbrook, President and CEO, McDonald’s “You don’t have to go to the coasts to find success in music or technology. We’re sitting at the intersection of both here in Chicago, thanks to the city’s supportive business community, world-class tech talent and progressive culture.”

—David Kalt, CEO and Founder, Reverb.com

HIGHLIGHTED PROGRAM OR INITIATIVE Smarter Illinois Initiative includes over 200 public, private and academic representatives partnering to develop a framework to guide the state’s adoption of smart technologies.

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Indiana TAXES 6.0% corporate income tax

#9 on the Tax

Foundation’s State Business Tax Climate Index ranking

EDUCATION 89% of students graduated high school in 2016

24% of adults age 25

to 64 have a bachelor’s degree or higher

UNEMPLOYMENT RATE 3.9%, less than national average of 4.1% RIGHT TO WORK STATE

Yes QUALITY OF LIFE 7.24 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 2.3% increase between 2010 and 2016

“Businesses from across the world recognize our state’s business-friendly environment, robust talent pipeline and reputation as the technology hub of the Midwest. We'll continue taking Indiana to the next level, ensuring we’re the best place to grow jobs and business.” —Gov. Eric Holcomb

A BUSINESS-FRIENDLY BOOM

BIG DEALS

Thanks to a collaborative effort between state government, local government, universities and the private sector to drive a pro-business culture, Indiana boasts one of the highest concentrations of manufacturing operations in the country. Advanced manufacturing, which makes up 30% of the state GDP and employs roughly 20% of the workforce, is also spurring development in IT. The tech sector has added nearly 15,000 jobs in the past two years, largely driven by an influx of companies escaping the high costs of the coasts.

• Toyota announced in January 2017 it would create 400 new jobs and invest an additional $600 million in its manufacturing facility in Princeton.

KEY INCENTIVES Headquarters Relocation Tax Credit (HRTC): Offers a credit against state income taxes for corporations that relocate their headquarters to Indiana.

Hoosier Business Investment Tax Credit: Offers nonrefundable income tax credits as a percentage of capital investments for businesses to support job creation and improve the standard of living for Indiana residents.

Economic Development for a Growing Economy (EDGE)—Payroll Tax Credit: Provides a refundable tax credit as a percentage of the expected increased tax withholdings generated from new job creation.

Industrial Development Grant Fund: Offers assistance to municipalities for off-site infrastructure improvements needed to serve a proposed project site.

EDCs Indiana Economic Development Corp. iedc.in.gov Indiana Economic Development Association ieda.org HIGHLIGHTED PROGRAM OR INITIATIVE The 21st Century Research and Technology Fund aims to advance and accelerate R&D and start-up and scale-up firms.

• Salesforce announced in May 2016 it would create an additional 800 new jobs and invest in a $40 million expansion at its Indianapolis headquarters.

• UPS announced in June 2017 it would create 575 new jobs and construct a $260 million package processing facility in Plainfield.

• Chinese firm BeijingWest Industries announced in June 2017 it would hire more than 400 workers and establish its first U.S. facility in Greenfield.

BIG COMPANIES Salesforce Hoist Liftruck Grand Design RV Thor Industries Seven Fortune 500 companies headquartered in state, including: Anthem Eli Lilly and Co. Cummins Steel Dynamics Simon Property Group C-SUITE TESTIMONIALS “Indiana is one of the best states in which to do business, and the state’s Hoosier hospitality is legendary. But what impressed me most is the quality of people, including those who are now part of our Salesforce family.” —Marc Benioff, Chairman and CEO, Salesforce “Why do this in Indiana? Because we have a great business climate that supports innovation.

Low costs and low taxes allow job creators to invest more resources into their businesses and their employees.” —Don Brown, CEO, LifeOmic “We’re big fans of Indiana—the state has an appealing business climate, available skilled technical people with manufacturing expertise, a strong work ethic and a fantastic location.”

—Todd Peters, CEO, BrightVolt

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Iowa TAXES 12% top corporate tax #40 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 91% of students graduated high school in 2016 27% of adults age 25 to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE 3.0%, less than national average of 4.1% RIGHT TO WORK STATE Yes QUALITY OF LIFE 8.08 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 2.9% increase between 2010 and 2016

“Apple’s significant investment and commitment to grow in Iowa is a clear vote of confidence in our state. This announcement further solidifies Iowa as a hub where innovation and technology flourish and world-class companies can thrive.” —Gov. Kim Reynolds

DEVELOPMENT IN DATA CENTERS

BIG DEALS

Iowa’s capital Des Moines has one of the fastest-growing employee bases in the Midwest. One of the biggest stories in Iowa is the growth in data centers. Apple is planning a 400,000-square-foot, $1.38 billion data center in nearby Waukee. Facebook recently started a one-million-square-foot expansion at its data center facility in Altoona, and Microsoft is completing its largest data center in the country in West Des Moines.

• Microsoft announced in July 2016 further development at its data center facility in West Des Moines, bringing total investment to $3.78 billion for all three projects.

KEY INCENTIVES High Quality Jobs Program: Offers loans, tax credits, exemptions and refunds to nonretail or nonservice business to offset costs incurred to locate, expand or modernize a facility.

Research Activities Credit: Offers refundable tax credits for R&D activities and investments.

Renewable Chemicals Production Tax Credit: Offers one of the strongest incentive packages in the industry for companies that produce 30 high-value chemicals derived from biomass feedstocks.

Iowa Innovation Acceleration Fund: Offers funds and financing to eligible businesses through two program components that correspond to different stages of growth for investment-grade, high-growth enterprises.

EDCs Iowa Economic Development Authority iowaeconomicdevelopment.com Professional Developers of Iowa pdiowa.com Iowa Area Development Group iadg.com

• IMT Group announced in November 2016 it would construct a $36 million expansion at its headquarters in West Des Moines.

• Italian food manufacturer Barilla America announced in March 2017 a $64 million expansion of silo storage and rail capacity at its facility in Ames.

• Facebook broke ground in May 2017 on an additional one-million-square-foot data center at its campus in Altoona. The $1.5 billion facility will be its fourth on the site and the largest in the country.

• Apple announced in August 2017 it will construct a $1.38 billion, 400,000-square-foot data center in Waukee.

BIG COMPANIES Rosenboom Metalcraft Accumold Cottingham & Butler Workiva Tyson KOFAB Three Fortune 500 companies headquartered in state: Principal Financial Group Casey’s General Stores Rockwell Collins C-SUITE TESTIMONIALS

HIGHLIGHTED PROGRAM OR INITIATIVE

“Across Iowa, businesses, schools, developers and government are coming together to build a new home for innovation in the heartland....

At Apple, we admire what you guys have accomplished, and we want to be a part of it.”

—Tim Cook, CEO, Apple

Future Ready Iowa Alliance aims to build the state’s pipeline and fosters STEM education with a goal of having 70% of the state workforce with education or training beyond high school by 2025.

“Whether it is a focus on STEM education, K–12, community colleges, four-year independent colleges, universities—all are working together to continually make Iowa really a leader in education.” —Mary Andringa, Chairman, Vermeer

Greater Des Moines Partnership dsmpartnership.com

“The reason [companies] should come to Iowa is the quality of the people. It’s a very Midwest work ethic—a desire to work together, to make things more effective and more efficient.” —Stan Askren, Chairman, CEO and President, HNI 2018 CEO GUIDE TO SITE SELECTION

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Kansas TAXES 4% corporate tax (plus 3% surtax on income over $50,000) #23 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 86% of students graduated high school in 2016

BIOTECH AND AEROSPACE

BIG DEALS

Kansas is experiencing strong growth in the biosciences sector, especially in animal health at companies like Merck Animal Health, Bayer Animal Health, Hill’s Pet Nutrition and CEVA Animal Health. Dairy Farmers of America recently completed a 214,000-square-foot plant in Garden City. In Wichita, the aviation and aerospace sectors continue to thrive. Wichita State University’s Innovation Campus opened earlier in the year in partnership with Dassault Systèmes and Airbus and serves as a manufacturing innovation hub.

• Amazon announced in March 2016 it will construct an 822,000-square-foot fulfillment center in Edgerton and create 1,000 full-time jobs.

KEY INCENTIVES

31% of adults age 25 to 64 have a bachelor’s degree or higher

Promoting Employment Across Kansas (PEAK): Offers qualified companies the ability to retain 95% of their payroll withholding tax for several years.

UNEMPLOYMENT RATE 3.6%, less than national average of 4.1%

Workforce Development Assistance: Kansas Industrial Training (KIT) and Kansas Industrial Retraining (KIR) can offset a company’s training costs on new technology or production activities.

RIGHT TO WORK STATE Yes QUALITY OF LIFE 6.81 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 1.9% increase between 2010 and 2016

High Performance Incentive Program (HPIP): Offers a 10% corporate income tax credit on qualified capital investment for companies that pay above-average wages.

Machinery & Equipment Expensing Deduction and Property Tax Exemption: Offers an expense deduction for business machinery and equipment and a tax exemption for qualified commercial and industrial machinery and equipment.

EDCs Kansas Economic Development Alliance kansaseda.com Greater Wichita Partnership greaterwichitapartnership.org GOTopeka gotopeka.com HIGHLIGHTED PROGRAM OR INITIATIVE Wichita State University’s Innovation Campus opened in 2017 in partnership with major corporate partners and aims to serve as a manufacturing innovation hub with 3-D printing and VR capabilities.

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"Strategically located in the middle of the country, Kansas is an ideal home for businesses looking for a skilled workforce and pro-growth environment.

The state is dedicated to attracting companies and helping them grow and create jobs."

—Gov. Sam Brownback

• Triumph Group opened a new 156,000-squarefoot manufacturing plant in June 2017 in Logistics Park Kansas City and added 310 jobs.

• Tyson Foods announced in September 2017 it will construct a $320 million poultry complex in eastern Kansas to meet the growing consumer demand for chicken. The project will create 1,600 jobs.

BIG COMPANIES Garmin Sprint Cessna Aircraft.

General Motors Learjet Three Fortune 500 companies headquartered in state: Spirit AeroSystems Lansing Trade Group Seaboard C-SUITE TESTIMONIALS “It’s a great place to recruit to—a great place to raise families—and so having the headquarters in Kansas gives us a competitive advantage.”

—Steve Edwards, Chairman and CEO, Black & Veatch “A significant part of Cargill, our North American protein business, is located right here in Wichita, Kansas. We are a global business with Midwest values, and Kansas is a place where we know we can thrive.” —Brian Sikes, President, Cargill Protein, North America “The people of Kansas [are] the reason Spirit AeroSystems is here. You just can’t beat them anywhere in the world.” —Brian Black, Senior Manager of Global Development, Spirit AeroSystems

A CEO’S GUIDE TO SITE SELECTION

Kentucky TAXES 6% top corporate income tax

#33 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 89% of students graduated high school in 2016

22% of adults age 25

to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE

5.0%, greater than

national average of 4.1% RIGHT TO WORK STATE

Yes QUALITY OF LIFE 5.94 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 2.2% increase between 2010 and 2016

“We offer formidable advanced manufacturing resources and experience, plus workforce programs that set the bar nationally, logistics hubs that deliver products nearly anywhere globally overnight and a network of available sites and buildings in attractive communities.” —Gov. Matt Bevin

INITIATIVES FUEL MANUFACTURING

BIG DEALS

The Bluegrass State attracted nearly $7 billion in new investments in the first half of 2017, shattering the full year record set in 2015, thanks in part to initiatives like right-to-work legislation and a red tape reduction program.

Toyota recently announced a $1.33 billion investment in its Georgetown plant to refurbish and replace equipment to prepare for the company’s new global platform. Ford Motor also announced a $900 million investment in its Kentucky Truck Plant in Louisville. Braidy Industries will construct a $1.3 billion aluminum rolling mill in Greenup County that will create 550 advanced manufacturing jobs.

• Amazon announced in January 2017 it would create 2,700 new jobs and construct a $1.5 billion air shipping hub at the Cincinnati/ Northern Kentucky International Airport.

KEY INCENTIVES Kentucky Business Investment Program: Offers income tax credits and wage assessments to manufacturing operations and regional or national headquarters that create 10 or more jobs.

Kentucky Enterprise Initiative Act: Refunds state sales and use tax paid for building or construction materials permanently incorporated as an improvement in real property.

Kentucky Reinvestment Act: Offers tax credits to an existing Kentucky company engaged in manufacturing and related functions that will be investing at least $2.5 million in equipment or related costs.

Bluegrass State Skills Corp. Skills Training Investment Credit: Provides grant and/or credits to existing businesses that sponsor occupational or skills-upgrade training programs to benefit their employees.

• Toyota announced in the spring of 2017 that it would invest an additional $1.33 billion in its Georgetown plant to build vehicles on the company’s new platform.

• Braidy Industries announced in April 2017 it would create 550 jobs and construct a $1.3 billion aluminum rolling mill in Eastern Kentucky.

• Ford announced in June 2017 it would invest $900 million in its Kentucky Truck Plant in Louisville to support production of the 2018 Lincoln Navigator and Ford Expedition.

• General Motors announced in June 2016 270 new jobs and a $290 million investment at its Bowling Green Corvette plant.

BIG COMPANIES Amazon Ford Computershare Alorica Diversified Consultants Braidy Industries Four Fortune 500 companies headquartered in state: Humana Kindred Healthcare Yum! Brands Ashland Global Holdings C-SUITE TESTIMONIALS

EDCs Kentucky Cabinet for Economic Development thinkkentucky.com Kentucky Association for Economic Development kaedonline.org Commerce Lexington locateinlexington.com Louisville Forward louisvilleky.gov/government/louisville-forward HIGHLIGHTED PROGRAM OR INITIATIVE The Kentucky Work Ready Skills Initiative has allocated $200 million to provide top-quality training for Kentucky residents in the sectors of advanced manufacturing, healthcare, IT/business services, construction trades and transportation/logistics.

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“When we got around to deciding where to choose to put Braidy Industries, we had 24 offers. Greenup County was not the top economic offer, but the state stepped up— the governor got Right-to-Work passed.”

—Craig Bouchard, Chairman of the Board and CEO, Braidy Industries “We are pleased about this investment in our Calvert City operations. Westlake Chemical has enjoyed a rewarding relatiownship with Kentucky for more than 25 years. These operations are a vital hub for our enterprise, and we look forward to a continued beneficial partnership in the future.” —Albert Chao, President and Chief Executive Officer, Westlake Chemical

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Louisiana TAXES 8% top corporate income tax

#42 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 77% of students graduated high school in 2016

A GLOBAL HUB FOR CHEMICAL

BIG DEALS

MANUFACTURING

• Venture Global LNG announced in December 2016 it would construct an $8.5 billion natural gas liquefaction facility and export terminal in Plaquemines Parish and create 250 new jobs.

Falling oil prices took a bite out of Louisiana’s economy in recent years, but that’s been offset by an influx of big investments—some $135 billion—by global chemical manufacturers.

Outside of the chemical industry, Louisiana has been diversifying its economy in recent years with more technology-driven sectors. In April, New Orleans startup Lucid announced a $60 million minority investment to expand its global reach.

KEY INCENTIVES

23% of adults age 25

LED FastStart: Top-ranked workforce training program that offers customized employee recruiting, screening and training solutions for no cost to eligible employers.

UNEMPLOYMENT RATE

Digital Interactive Media and Software Development Incentive: Offers a 25% tax credit for in-state labor and an 18% credit for eligible production expenditures.

to 64 have a bachelor’s degree or higher

4.8%, greater than

national average of 4.1% RIGHT TO WORK STATE

Yes QUALITY OF LIFE 5.53 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 3.3% increase between 2010 and 2016

“While my administration has prioritized recruiting economic development projects that bring new jobs to Louisiana, and while we continue to see positive jobs numbers resulting from our efforts, it is the hardworking people of Louisiana who make our economic progress possible."

—John Bel Edwards

Angel Investor Tax Credit: Offers up to 25.2% tax credit for individual investors who invest in early-stage, wealth-creating businesses that seek start-up and expansion capital.

Industrial Tax Exemption: Offers property tax abatement for up to eight years on a manufacturer’s new investment and annual capitalized additions.

Quality Jobs: Offers up to a 6% rebate on annual payroll expenses for up to 10 years, and either a sales/use tax rebate on capital expenses or a 1.5% investment tax credit for qualifying expenses.

EDCs Louisiana Economic Development opportunitylouisiana.com Louisiana Economic Development Association ledagroup.org Greater New Orleans Inc. Regional Economic Development gnoinc.org HIGHLIGHTED PROGRAM OR INITIATIVE

• Lotte Chemical USA/Westlake Chemical announced in June 2016 it would invest $3 billion in two projects and add 265 new jobs in Lake Charles. The company also announced in April 2017 the relocation of its headquarters to the area.

• Wanhua Chemical announced in April 2017 it would construct a $1.12 billion chemical manufacturing complex in the state and add 170 new jobs.

• Graphic Packaging International and DHL Supply Chain, North America announced a $274 million, 1.27-million-square-foot logistics center and 93 new jobs in Monroe.

BIG COMPANIES BASF SE Dow Chemical ExxonMobil Turner Industries Group Acme Truck Line Performance Contractors Two Fortune 500 companies headquartered in state: Entergy CenturyLink C-SUITE TESTIMONIALS “When selecting a location for a center of this importance, we considered many attractive options across the country. Louisiana rose to the top of our list because of the advantages it offers in terms of talent, infrastructure, location and environment.” —Brackett Denniston II, Senior Vice President and General Counsel, GE “Tax credits certainly encourage business in Louisiana, but I could have done business anywhere. I love Louisiana. It’s a great place to live and raise a family. The people have a good work ethic, and there is lots of space to grow.”

—Deborah Fehr-Niswanger, Founder, Military Truck Parts

The Certification for Manufacturing (C4M) initiative offers a one-semester certification program to prepare students for several disciplines within the field of manufacturing.

The program is taught over 16 weeks and covers essential skills needed in the contemporary manufacturing environment.

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Maine

"State government and its partners in the private sector are working hard to attract new businesses and new investment to the state every day." —Gov. Paul R. LePage

TAXES

GATEWAY TO THE ARTIC?

BIG DEALS

8.93% top corporate income tax

If warming sea levels and a melting Arctic ice cap open up new shipping routes, Maine could be a future key player in trade with Europe.

Port activity in Portland has grown by 20% annually since Icelandic shipping company Eimskip established operations there in 2013. In September, the first cruise ship traveled through the Northwest Passage, and in October, the Arctic Council met in Portland and highlighted Maine's potential as the “gateway to the Arctic.”

• E-commerce retailer Wayfair opened a second customer service center in Bangor in September 2016 with 450 new full-time jobs. Wayfair had previously opened its first center in Brunswick.

#28 on the Tax

Foundation’s State Business Tax Climate Index ranking

EDUCATION 88% of students graduated high school in 2016

29% of adults age 25

to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE 3.5%, less than national average of 4.1% QUALITY OF LIFE 5.78 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH .2% increase between 2010 and 2016

KEY INCENTIVES Pine Tree Development Zones (PTDZ): Enterprise zone program offers sales tax exemptions, state corporate income tax credits and employment tax increment financing for up to 10 years for qualified companies.

Opportunity Maine Tax Credit: Offers state income tax credit to businesses that pay monthly student loan payments for qualified employees.

Business Equipment Tax Exemption (BETE) Program: Offers a 100% exemption on personal property tax related to qualified business equipment.

Maine Seed Capital Tax Credit: Finance Authority of Maine offers state income tax credits to investors for up to 50% of cash equity they provide to eligible Maine businesses.

Maine Technology Asset Fund (MTAF): Offers $45 million in bond money to be distributed to qualified Maine projects focused on investments in R&D and commercialization for infrastructure, equipment and technology upgrades that enable organizations to grow.

EDCs Maine Department of Economic & Community Development www.maine.gov/decd Maine Development Foundation mdf.org Greater Portland Economic Development Corp. gpedc.org Choose Bangor choosebangor.com

• Portland-headquartered veterinary technology company Vets First Choice announced a $223 million strategic investment to drive global growth and expansion.

• IT company Grand Rounds announced in May 2017 a new operations center in Lewiston and the creation of up to 200 new jobs over the next five years.

• LED manufacturer Cirrus LED relocated its headquarters from Silicon Valley to Saco in June 2017.

• Freeport-headquartered L.L. Bean announced in August 2017 it will create 100 jobs and open a new manufacturing facility in Lewiston.

BIG COMPANIES L.L. Bean TD Bank, N.A. Unum Pratt & Whitney Aircraft Group Athenahealth Cianbro Bath Iron Works C-SUITE TESTIMONIALS “Our workers in Maine are better at this than those in Boston or in India....If I had time, I could sell a million CEOs on what I did in Maine.”

—Jonathan Bush, CEO, Athenahealth “We’ve been able to attract talent to the state of Maine; we’ve been able to change the nature of our business because the employees that work with us in the state of Maine care deeply about the company and our strategy.”

—Kevin McCarthy, COO, Unum Group “What I find about our workforce is that they are a dedicated, professional workforce who care about the customers and care about results....The (900+) people who work here are hard-working, dedicated professional workers.

I think you would have a great success if you chose to move our business here.” —Sara Burns, President and CEO, Central Maine Power

HIGHLIGHTED PROGRAM OR INITIATIVE

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FocusMaine was founded in 2016 and aims to grow prosperity in the state by creating quality jobs in sectors with high-growth potential, including agriculture, aquaculture and biopharmaceuticals.

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Maryland

“Saying we are ‘open for business’ isn't just a catchy slogan on road signs....We said we were going to help our businesses grow, put more Marylanders to work and turn our economy around, and we have been doing exactly what we said we would do.” —Gov. Larry Hogan

TAXES

AN URBAN DEVELOPMENT STORY

BIG DEALS

8.25% corporate income tax

Baltimore is home to one of the largest urban economic development projects underway in the country. Port Covington is a $5.5 billion waterfront development that will serve as the new headquarters for Under Armour and will feature offices and manufacturing space.

Construction is slated for the end of 2017 and, once completed, will reportedly create more than 26,000 jobs and have a $4.3 billion annual economic impact.

• Marriott International announced in October 2016 plans to relocate its global headquarters to a $600 million state-of-the-art facility in Bethesda as a home for more than 3,500 employees.

#43 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 88% of students graduated high school in 2016

38% of adults age 25

to 64 have a bachelor’s degree or higher

KEY INCENTIVES Maryland Economic Development Assistance Authority and Fund (MEDAAF): Offers below market, fixed-rate direct assistance to high-growth companies locating or expanding in priority areas.

UNEMPLOYMENT RATE 3.8%, less than national average of 4.1%

Job Creation Tax Credit: Offers state income tax credits of up to $1,000 per job for businesses that create a minimum number of new, full-time positions in revitalization areas.

QUALITY OF LIFE 5.60 out of 10, 2017 Chief Executive Best & Worst States for Business

Economic Development Opportunities Fund (Sunny Day): Offers financial support for extraordinary economic development opportunities that create and retain employment and require significant capital expenses.

POPULATION GROWTH 4.2% increase between 2010 and 2016

More Jobs for Marylanders—Manufacturing Tax Credit: Offers tax incentives tied to job creation for a 10-year period and encourages additional investment through accelerated and bonus equipment depreciation.

• Under Armour announced plans in August 2016 to hire 1,000 additional employees and open a $174 million, 1.3 million-square-foot distribution facility in Sparrows Point.

• Amazon announced plans to open an 855,00-square-foot regional distribution center in Baltimore and hire more than 1,500 new employees.

• Global retailer Lidl announced in August 2016 it would create 100 new jobs at a $100 million regional headquarters and distribution center to be constructed in Cecil County.

BIG COMPANIES 12 Fortune 500 companies headquartered in state, including: Black & Decker Ciena Colfax Discovery Communications Goodwill Industries Johns Hopkins Medicine Lockheed Martin Marriott International C-SUITE TESTIMONIALS

EDCs Maryland Economic Development Commission commerce.maryland.gov/commerce/ boards-and-commissions/economic-development-commission Maryland Economic Development Association medamd.com Maryland Economic Development Corp. medco-corp.com Economic Alliance of Greater Baltimore greaterbaltimore.org HIGHLIGHTED PROGRAM OR INITIATIVE EARN Maryland invests in strategic industry partnerships from key sectors to coordinate across education, workforce and economic development initiatives to train skilled workers.

“Marriott has been headquartered in Montgomery County, Maryland, for more than 60 years, and we intended to remain close to our roots....After a comprehensive review of many excellent options in Washington, D.C., as well as Arlington and Fairfax counties...[we] narrowed our search to downtown Bethesda, an area which offers multiple sites that meet our priority needs.” —Arne Sorenson, CEO, Marriott “We selected Cecil County not only because it offers a central location for our distribution network, but also because it will be a great place for our employees to work and live.”

—Brendan Proctor, President and CEO, Lidl U.S. “We're investing in our future and the 2U team with a new, state-of-the-art facility that will match our unique corporate culture. With the assistance of the Maryland Department of Commerce and Prince George’s County, our new headquarters will support our growth.”

—Chip Paucek, CEO and co-founder, 2U 2018 CEO GUIDE TO SITE SELECTION

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Massachusetts TAXES 8% of net income (plus $2.60 per $1,000 of tangible property or net worth)

#22 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 88% of students graduated high school in 2016

41% of adults age 25

to 64 have a bachelor’s degree or higher

UNEMPLOYMENT RATE 3.7%, less than national average of 4.1 percent QUALITY OF LIFE 5.63 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 4.0% increase between 2010 and 2016

“Massachusetts continues to succeed in attracting new jobs, development and investment from around the world, and we are excited for the role these new companies will play in our economy and communities in the years to come.” —Gov. Charlie Baker

WINNING WITH TECH

HIGHLIGHTED PROGRAM OR INITIATIVE

GE stunned the corporate world in early 2016 announcing that it would move its headquarters to Boston from Fairfield, Connecticut.

Massachusetts officials sweetened the deal with incentives of up to $145 million, but it was largely about tapping into one of the world’s richest markets for highly educated young talent. GE will bring with it 800 jobs, but its biggest impact could be in driving other investments. The company said it plans to become part of the city’s innovation ecosystem and has already invested in local tech companies, such as Rethink Robotics and HourlyNerd.

The ReadyMass 100 program began in 2009 and maintains an inventory of zoned, permitted and shovel-ready sites that can be quickly developed.

KEY INCENTIVES Economic Development Incentive Program (EDIP): Offers state and local tax incentives in exchange for full-time job creation, manufacturing job retention and private investment commitments.

Job Creation Tax Incentive Program: Offers incentive payments for newly created jobs for corporations engaged in biotechnology and medical device manufacturing. Candidates must create 10 or more eligible jobs to receive incentive payment equal to 50% of the job’s salary multiplied by applicable state income tax rate.

Research and Development Tax Credit: Offers tax credit for R&D investments for both manufacturers and R&D companies. Computed in two categories, one for qualified investments at 10%, the other for basic research payments at 15%.

Investment Tax Credit (ITC): Offers a 3% credit for qualifying businesses against their state corporate excise tax for the purchase of qualified property used in business operations.

EDCs MassEcon massecon.com

BIG DEALS • Moderna Therapeutics announced in September 2016 it will construct a $110 million drug manufacturing facility in Norwood. The company will transfer 100 employees to the facility and will hire an additional 100 workers.

• Alexion Pharmaceuticals announced in September 2017 it will relocate its headquarters from New Haven, Connecticut, to Boston.

• Insulet broke ground in October 2017 on a $100 million facility to establish its first manufacturing operations in the U.S. in Acton.

BIG COMPANIES 13 Fortune 500 companies headquartered in state, including: General Electric Liberty Mutual Insurance Massachusetts Mutual Life Insurance TJX Raytheon Staples Thermo Fisher Scientific Dell EMC Boston Scientific Eversource Energy Biogen C-SUITE TESTIMONIAL “We have created an innovative ecosystem here that allows us to work with academic institutions, nurturing both public and private partnerships.

There’s no greater place in the world to be.”

—Bill Sibold, Global Head of MS, Oncology and Immunology, Sanofi Genzyme

MassDevelopment massdevelopment.com Boston Planning & Development Agency bostonplans.org/projects DevelopSpringfield developspringfield.com

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Michigan TAXES 6% corporate income tax #12 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 80% of students graduated high school in 2016 27% of adults age 25 to 64 have a bachelor's degree or higher UNEMPLOYMENT RATE 4.5%, greater than national average of 4.1% RIGHT TO WORK STATE Yes QUALITY OF LIFE 4.97 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH .4% increase between 2010 and 2016

“The commitment by global companies to grow and create jobs in Michigan will strengthen our communities by providing more and better jobs....Professional trades and high-skilled jobs keep growing here, which is why we need to remain committed to career development.”

—Gov. Rick Snyder

DIVERSIFYING MANUFACTURING

BIG DEALS

Michigan is leveraging its automotive history to grow as a global manufacturing powerhouse.

Already home to 75% of all R&D in the automotive industry, the state’s talent and infrastructure strengths are fueling innovation in other sectors. Defense contractor Williams International is expected to invest up to $300 million in new facilities in Pontiac over the next five years. LG Electronics announced a 250,000-square-foot plant in Hazel Park, and Switch recently opened a large advanced data center campus in Grand Rapids.

• Kalamazoo-headquartered Stryker Corp. announced plans in December 2016 to add 105 new jobs at a $130 million facility in Portage.

KEY INCENTIVES Michigan Community Revitalization Program: Offers grants, loans and other economic assistance to accelerate private investment in declining areas.

Brownfield Program: Offers tax increment financing to reimburse for costs related to redeveloping contaminated, functionally obsolete, blighted or historic properties.

Good Jobs for Michigan: Allows for the capture of Michigan income taxes withheld from new jobs created as a result of a business expansion or new location project.

Michigan Business Development Program: Offers flexible grants, loans or other assistance to businesses for highly-competitive projects in the state that create jobs or provide investment.

• General Motors and Honda announced in January 2017 a joint venture manufacturing facility in Brownstown that will create nearly 100 jobs.

• Penske Logistics announced in August 2017 more than 400 new jobs and the construction of a $98 million distribution center in Romulus.

• LG Electronics announced in August 2017 the creation of nearly 300 jobs and plans to establish a $25 million, 250,000-square-foot assembly facility in Hazel Park.

BIG COMPANIES Amazon Fiat Chrysler Automobiles Flex-N-Gate Fuyao Automotive North America 17 Fortune 500 companies headquartered in state, including: General Motors Ford Motor Dow Chemical Whirlpool BorgWarner Kellogg C-SUITE TESTIMONIALS

EDCs Michigan Economic Development Corp. michiganbusiness.org Michigan Economic Developers Association medaweb.org Detroit Economic Growth Corp. degc.org Lansing Economic Area Partnership purelansing.com HIGHLIGHTED PROGRAM OR INITIATIVE Michigan SmartZone Network connects universities, research organizations and tech businesses to assist in endeavors and promote public-private collaboration.

“Our leaders in Michigan have continued to shape the right conditions for investment and job creation, and we greatly appreciate their support of our continued growth in the state.”

—Joe Hinrichs President of the Americas, Ford Motor “We are proud to be growing in our home state and keeping manufacturing jobs in America.

This expansion of capacity reflects the positive outlook we have for our business and will contribute to the revitalization of Flint.” —Ray Scott, Executive Vice President and President, Seating Operations, Lear “We are excited to bring additional engineering and skilled trades jobs to our area. Michigan is a great state for companies like Dart because we can attract and retain employees with diverse skills.” —Jim Lammers, President, Dart Container

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Minnesota TAXES 9.8% corporate franchise tax

#46 on the Tax

Foundation’s State Business Tax Climate Index ranking EDUCATION 82% of students graduated high school in 2016

34% of adults age 25

to 64 have a bachelor’s degree or higher

UNEMPLOYMENT RATE 3.3%, less than national average of 4.1% QUALITY OF LIFE 6.56 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 4.1% increase between 2010 and 2016

“The credit for our state’s continued economic success belongs to the people of Minnesota. I thank the hardworking Minnesotans and business owners who have made Minnesota home to their families, innovative companies and a great quality of life.”

—Gov. Mark Dayton

HEALTHCARE AND MANUFACTURING GROWTH

BIG DEALS

In 2013, the Mayo Clinic announced it will spend more than $3 billion over the next 20 years to transform its operations in Rochester. Minnesota is also seeing growth in other sectors. Electronics distribution company Digi-Key recently announced a $250 million investment in a one-million-square-foot distribution center in Thief River Falls. Medical device manufacturer Biomerics plans a 52,000-square-foot facility in Brooklyn Park, while Faribault Foods, a food manufacturer owned by Mexico’s La Costeña, is constructing a $100 million plant in Faribault.

• U.S. Bank announced in December 2016 plans to build a $250 million data center in Chaska on the outskirts of Minneapolis.

KEY INCENTIVES Minnesota Investment Fund: Provides financing to help add new workers and retain high-quality jobs on a statewide basis with a focus on industrial, manufacturing and tech-related industries.

Minnesota Job Creation Fund: Offers financial incentives of up to $2 million to businesses that meet job creation and capital investment targets.

Greater Minnesota Business Development Public Infrastructure Grant: Assists eligible applicants with the development of public and private infrastructure for business improvement projects and industrial parks.

Data Center Tax Incentive: Offers tax breaks for companies that build data network operation centers of at least 25,000 square feet and invest $30 million in the first four years.

EDCs Minnesota Department of Employment and Economic Development mn.gov/deed Minnesota Economic Development Foundation mnedf.org Minneapolis St. Paul Regional Economic Development Partnership greatermsp.org University of Minnesota Duluth Center for Economic Development umdced.com

• Faribault Foods announced in April 2016 the creation of 125 new jobs and a $100 million expansion at its bean and vegetable canning plant in Faribault.

• Digi-Key Electronics broke ground in September 2017 on a $250 million, 1 millionsquare-foot expansion with 1,000 jobs at the company’s facility in Thief River Falls.

• In August 2017, Amazon opened an 850,000-square-foot fulfillment center in Shakopee and added more than 2,000 jobs.

BIG COMPANIES 17 Fortune 500 companies headquartered in state, including: UnitedHealth Group Target Best Buy CHS 3M U.S. Bancorp SuperValu General Mills Ecolab C.H. Robinson Worldwide C-SUITE TESTIMONIALS “We selected our home market for our new, state-of-the-art technology center because the state of Minnesota shares our commitment to customer care and information protection. This new center will employ highly advanced and converged automated infrastructure for our digital and computer needs.” —Jeff von Gillern, Vice Chairman of Technology and Operation Services, U.S. Bank “When it comes to manufacturing, Minnesota really has a strong supply chain. We can get everything that we need right here—buying locally—in Minnesota. Not every area has the same type of access to supply as we do in Minnesota." —Traci Tapani, Owner and Co-President, Wyoming Machine

HIGHLIGHTED PROGRAM OR INTIATIVE PIPELINE (Private Investment, Public Education, Labor and Industry Experience) Program helps develop industry-based, employer-driven training programs in the high-growth sectors of advanced manufacturing, agriculture, healthcare services and information technology.

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Mississippi TAXES 5% top corporate income tax

#24 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 82% of students graduated high school in 2016

21% of adults age 25

to 64 have a bachelor’s degree or higher

UNEMPLOYMENT RATE 4.9%, greater than national average of 4.1% RIGHT TO WORK STATE

Yes QUALITY OF LIFE 5.48 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 0.7% increase between 2010 and 2016

“[Continental Tire’s] decision to bring 2,500 new jobs to Central Mississippi speaks volumes about our dedication to developing the workforce of the future, as well as a business environment that spurs growth, expansion and innovation.” —Gov. Phil Bryant

QUIET GROWTH IN AEROSPACE AND

HIGHLIGHTED PROGRAM OR INITIATIVE

AUTOMOTIVE

Mississippi Coding Academies, a joint venture between the Mississippi Development Authority and Innovate Mississippi, offers post-secondary students an intensive, 11-month, tuition-free computer science education program.

Economic growth in Mississippi trailed national averages in recent years, but the state’s manufacturing sector continues to expand. It has seen more than $2 billion in auto manufacturing investments since 2012, and Northrop Grunman, which recently celebrated the 10-year anniversary of its advanced manufacturing facility in Moss Point, announced a lease extension and additional investments to expand production of its unmanned systems. The aerospace sector also continues to grow at the NASA Stennis Space Center in Hancock County.

KEY INCENTIVES Advantage Jobs Program: Provides cash rebates of up to 90% of the Mississippi income tax withheld from new employees hired with an annual salary of at least 110% of the state or county average annual salary.

Jobs Tax Credit: Offers a state income tax credit from 2.5%–10% of payroll for companies creating new jobs in the state.

Fee in Lieu of Property Tax: Offers a fee in lieu of standard property taxes when the company’s investment, land, buildings and equipment exceeds $100 million. Fee is negotiated for 20 years but can not be less than one-third of the property tax levy.

Mississippi Works Fund Training Grants: Offers flexible workforce training incentives designed to provide businesses with additional resources to build a more qualified applicant pool.

Discretionary Grants: Offers customized grants for infrastructure or building improvements, relocation assistance or workforce training to meet project or site-specific needs.

BIG DEALS • Continental Tire broke ground in November 2016 on a $1.45 billion commercial vehicle tire manufacturing facility in Hinds County and announced it would create 2,500 new jobs.

• TopShip announced in February 2016 the addition of 1,000 new jobs and the construction of a $68 million shipbuilding facility at the Port of Gulfport.

• Niagara Bottling announced in December 2016 a $78 million investment in a new facility and the creation of 38 jobs in Marshall County.

• Automotive supplier Calsonic Kansei announced in July 2017 nearly 100 new jobs and a $16 million expansion at its existing facility in Madison County.

• Global technology leader BorgWarner announced in September 2017 a $20 expansion and the addition of 75 new jobs at its existing facility in Water Valley.

BIG COMPANIES ErgonSanderson Farms Nissan North America Tyson Foods Ashley Furniture Industries Peavey Electronics BorgWarner Milwaukee Tool C-SUITE TESTIMONIALS

EDCs Mississippi Development Authority mississippi.org Mississippi Economic Development Council medc.ms Mississippi Economic Council msmec.com Greater Jackson Alliance greaterjacksonms.com

“The strength of the state and local leadership, the qualified workforce and a growing industrial base helped us make the decision to expand our operations in Columbus.” —Richard Fant, CEO, New Process Steel “It’s a big advantage that we can now respond to the great market potential in North America by serving our customers from a strategic location....

All in all, we feel that FEUER Powertrain has been very well received in Tunica County, and we continuously strive to make a great contribution to this region in the state of Mississippi with the creation of qualified jobs.” —Dominic Deig, President and CEO, FEUER Powertrain North America 2018 CEO GUIDE TO SITE SELECTION

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Missouri

“It’s time for Missouri to do different in our approach to economic development. We are creating new jobs by putting our citizens first. Since day one, our goal has been to get government out of the way so that companies can focus on doing what they do best—creating jobs.” —Gov. Eric Greitens

TAXES

A GROWING GLOBAL HUB OF AGTECH

BIG DEALS

6.25% corporate

• Spring Venture Group announced in June 2017 plans to add 681 jobs and invest $25 million in capital in Kansas City.

EDUCATION 88% of students graduated high school in 2016

The Show-Me State continues to grow as a global leader in agtech, which contributes $33 billion in GDP to the state economy and provides over 378,000 jobs. St. Louis, global headquarters of Monsanto, is seeing new innovation in farming practices and soil management at companies like TerraManus Technologies and Shatto Milk.

Israeli company NRGene also chose St. Louis as its U.S. headquarters in 2016. The state’s central location has also attracted new investments in logistics and distribution. Amazon recently announced a 448,000-square-foot distribution center in Hazelwood.

27% of adults age 25

KEY INCENTIVES

income tax

#16 on the Tax

Foundation’s State Business Tax Climate Index ranking

to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE 3.5%, less than national average of 4.1% RIGHT TO WORK STATE Suspended, pending a 2018 referendum QUALITY OF LIFE 6.52 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 1.7% increase between 2010 and 2016

Missouri Works: Offers multiple programs of achievable, flexible benefits and incentives to companies creating quality jobs in the state.

BUILD Missouri: Offers financial incentives for the location or expansion of large business projects in the state.

Sales Tax Exemptions for Manufacturers: Offers exemption on state sales tax for qualifying expenditures ranging from machinery and materials to energy and water.

EDCs Department of Economic Development ded.mo.gov Missouri Economic Development Council showme.org Missouri Partnership missouripartnership.com Economic Development Corp. of Kansas City edckc.com St. Louis Economic Development Partnership stlpartnership.com HIGHLIGHTED PROGRAM OR INTITIATIVE The Missouri Innovation Center works closely with universities to develop high-growth advanced technology companies and provides specialized facilities, access to capital and technical expertise.

• Dollar Tree announced in April 2017 plans to add 375 jobs and construct a $103 million distribution center in Warrensburg.

• American Outdoor Brands announced in September 2017 it will construct a $55 million distribution center and add 328 jobs in Columbia.

•Kraft Heinz opened its $250 production line expansion project in Kirksville in May 2017, adding 200 jobs.

•Aurora Organic Dairy broke ground in Columbia in May 2017 on the construction of a $141 million dairy processing facility.

BIG COMPANIES Cushman & Wakefield Hallmark Cards Viasystems Group Boeing Hy-Vee Ford Motor 10 Fortune 500 companies headquartered in state, including: Express Scripts Holding Centene Emerson Electric Monsanto Reinsurance Group of America O’Reilly Automotive C-SUITE TESTIMONIALS “For manufacturing, overall costs of labor, utilities, cost of land and buildings and the skilled labor pool, Missouri is one of the best values in the country.” —Patrick Leinert, Founder and President, Leinco Technologies “For a business like ours that ships coffee to a lot of places, it is important to be centrally located.

There are many places we can get to quickly from Missouri.” —Tricia Zimmer Ferguson, President, Kaldi’s Coffee Roasting Co. “People here have an excellent work ethic. And there's a sense of extended family in the area.

It feels like a wholesome, down-home country atmosphere with the amenities that you would expect in a metropolitan area.” —Randy Moore, President, EaglePicher Technologies

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Montana

“When we invest in our workers, we invest in our future—and manufacturing in Montana is reaching incredible heights, thanks to the hard work and integrity of Montanans all across the Big Sky.” —Gov. Steve Bullock

TAXES

GROWING THROUGH GRASS-ROOTS

HIGHLIGHTED PROGRAM OR INITIATIVE

6.75% corporate income tax (7% for corporations making a "water's edge" election)

ENTREPRENEURSHIP

RevUp Montana is a workforce initiative designed to create short-term degree, certificate and apprenticeship programs for high-wage, high-demand jobs. Programs are designed in a collaborative effort between college and the state department of labor.

EDUCATION 86% of students graduated high school in 2016

Montana is one of a dozen states that isn’t home to a Fortune 500 headquarters, but its midmarket and startup scene is bustling.

Roughly 10% of Montana’s adult population owns their own business, and a recent report found Missoula has the ninth-highest business startup rate per capita among 394 metro areas.

Some big businesses are expanding: In 2015, Boeing opened a 55,000-square-foot expansion at its Helena manufacturing facility. There has also been notable growth in the craft brewing industry, which has grown by 87% since 2010 and provides more than 1,000 jobs with $33 million in personal income.

30% of adults age 25

KEY INCENTIVES

UNEMPLOYMENT RATE 3.9%, less than national average of 4.1%

Big Sky Economic Development Trust Fund (BSTF): Offers incentive of up to $7,500 per job for projects located in a “high poverty county.”

Funds can be used for purchase of land, building or equipment, relocation costs or employee training.

#6 on the Tax Foundation’s State Business Tax Climate Index ranking

to 64 have a bachelor’s degree or higher

QUALITY OF LIFE 8.54 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 5.4% increase between 2010 and 2016

Primary Sector Workforce Training Grant (WTG): Offers $5,000 per eligible job created to be used for a wide variety of eligible training expenses.

New or Expanding Industry Tax Abatement: Offers a tax abatement of up to 75% for the first five years of operation for a business that earns 50% or more of its annual gross income from out-of-state sales. Value then rises incrementally until 100% is reached in year 10.

New Markets Tax Credits (NMTC): Offers credits that can be used for projects that are at least $4 million in size.

EDCs Montana Governor’s Office of Economic Development business.mt.gov Montana Economic Developers Association medamembers.org/meda Montana Business Assistance Connection mbac.biz Missoula Economic Partnership missoulapartnership.com

BIG DEALS • Consumer Direct Management Solutions announced it would consolidate offices and create a $13 million centralized headquarters in Missoula.

• Zoot Enterprises announced in April 2017 it will expand its presence in the state with a new back-office facility in Billings.

• U.S. Optics announced in August 2017 it will relocate its headquarters from Southern California to Kalispell.

• Mesa Labs is currently expanding its operations in the Bozeman area and constructing a $15 million, 100,000-square-foot facility.

BIG COMPANIES Oracle onXmaps Blackmore Sensors and Analytics Proof Research Foundant Technologies C-SUITE TESTIMONIALS “Montana consistently supports the brands and manufacturers that choose to locate in the state.

We have chosen Montana as the perfect place to raise and educate our family where we can ski in the winter, fish in the summer, and continue to grow a successful downtown business.”

—Jim Harris, Owner, Bozeman Spirits Distillery “We find that as we’re looking to bring talent from out of state, many people indicate they have waited for years for the opportunity to relocate to Montana....There simply is no better place to raise a family.” —Tom Spika, CEO, Spika Design & Manufacturing “Living in Montana is truly an inspiration for us, and it is clear that the Montana lifestyle creates dedicated, hard-working individuals.”

—Eric Siegfried, CEO, onXmaps

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Nebraska

“Everything that occurs around economic development boils down to relationships....

I call companies directly.

You have to develop these relationships, and that is part of why I take a hands-on role.”

—Gov. Pete Ricketts

TAXES

LOOKING TO TECH FOR GROWTH

BIG DEALS

7.81% top corporate

While the state logged a negative growth rate in the first part of the year due to declines in the agricultural industry, sectors such as manufacturing and tech are showing robust growth. The development of data centers is also gaining momentum. Facebook recently announced it will construct a $307 million, 450,000-square-foot data center south of Papillion. In the past couple of years, Yahoo has also expanded its data center presence in the state, and Travelers opened a $200 million data center in 2015.

• Becton, Dickinson and Co. announced in September 2016 a $100 million expansion of its syringe manufacturing operations in Holdrege.

income tax

#25 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 89% of students graduated high school in 2016

29% of adults age 25

to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE 2.7%, less than national average of 4.1% RIGHT TO WORK STATE

Yes QUALITY OF LIFE 7.67 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 4.4% increase between 2010 and 2016

KEY INCENTIVES Nebraska Advantage: Tiered program offering a variety of sales tax refunds, jobs credits, investment credits and personal property tax exemptions.

Nebraska Advantage R&D Credit: Offers a refundable tax credit equal to 15% of the federal credit for qualified R&D activities for up to 21 years.

Customized Job Training Advantage: Offers flexible and discretionary grants of up to $4,000 per qualified new job, with additional funds available in rural and high-poverty areas.

Rural Development Advantage: Provides refundable tax incentives for projects that create jobs and invest in counties with small populations.

Sales Tax Exemptions: Offers sales tax exemptions on manufacturing equipment, manufacturing or processing raw materials, common carrier vehicles and utilities used in manufacturing.

EDCs Nebraska Department of Economic Development opportunity.nebraska.gov Southeast Nebraska Development District sendd.org Northeast Nebraska Economic Development District nenedd.org Lincoln Partnership for Economic Development selectlincoln.org HIGHLIGHTED PROGRAM OR INITAITIVE

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The Developing Youth Talent Initiative fosters partnerships between private industries and public schools to connect young students to careers in the manufacturing and technology sectors.

• Facebook announced in April 2017 it will construct a $307 million data center and create 1,000 new jobs in Sarpy County.

• Cargill opened a $111 million, 160,000-squarefoot cooked meats facility in April 2017 in Columbus.

• Costco and Lincoln Premium Poultry broke ground in June 2017 in Freemont on a $300 million chicken processing facility that will create 800 new jobs.

BIG COMPANIES First Data Hy-Vee PayPal Werner Enterprises Five Fortune 500 companies headquartered in state, including: Conagra Brands Berkshire Hathaway Union Pacific Peter Kiewit Sons’ Mutual of Omaha C-SUITE TESTIMONIALS “A permitting process that can take months in other states can now be completed in a matter of days, right here, in Nebraska....It’s because of this and the talented people in this great state that we are at home here and continue to grow our business in Nebraska.” —Mike Coleman, Senior Director of Data Center Operations, Yahoo “Everything here has been as advertised—from a committed set of community partners and strong pool of talent to the opportunity to power our facility with 100% renewable energy.

The Cornhusker State is a great place to do business.” —Tom Furlong, Vice President of Infrastructure, Facebook “When we came to Nebraska...there were two things that really jumped out at me—one was the level of coordination between all levels of government and nongovernment organizations—we were thrilled with the turnout at the meetings and the level of support.”

—Jonathan Luz, Director of Strategic Planning, Costco

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Nevada TAXES No corporate income tax. (General business tax of 1.475% of wages and a commerce tax on gross revenue for corporations that make more than $4 million in a fiscal year )

#5 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 73% of students graduated high school in 2016

23% of adults age 25

to 64 have a bachelor’s degree or higher

UNEMPLOYMENT RATE 5.0%, greater than national average of 4.1% RIGHT TO WORK STATE

Yes QUALITY OF LIFE 6.81 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH

8.9% increase between 2010 and 2016

“Nevada leads the nation in private sector job creation and continues to break all-time records for employment, thanks to the hard work of our business community and their faith in the Silver State.” —Gov. Brian Sandoval

DISTRIBUTION AND DATA CENTER GROWTH

HIGHLIGHTED PROGRAM OR INITIATIVE

IN THE DESERT

Workforce Innovations for a New Nevada (WINN) offers workforce training assistance in the form of grants to nearby educational institutes for specific courses designed to increase the training and performance of staff.

Nevada has seen a number of big tech investments, particularly in the Reno area. In January 2017, Tesla Motors started production of lithium-ion battery cells at its $5 billion Gigafactory. Apple just announced a $1 billion expansion of its data center in the Reno Technology Park, and Switch SuperNAP is constructing what will be the world’s largest data center. There’s also strong growth in manufacturing and logistics as companies seek to take advantage of Las Vegas’s fast access to West Coast ports. Amazon is building an 813,000-square-foot fulllment center in North Las Vegas, while sports apparel retailer Fanatics is building a 400,000-square-foot distribution center south of I-15.

KEY INCENTIVES Sales and Use Tax Abatement: Offers an abatement on qualified capital equipment purchases with rate reduction to as low as 2%.

Modified Business Tax Abatement: Offers an abatement of 50% of the 1.475% rate on quarterly wages exceeding $50,000 for companies that invest $1 million, create 50 new jobs and pay hourly wages of at least 100% of the statewide average.

Silver State Works Employee Hiring Incentive: Offers up to $2,000 per employee in incentive reimbursements or training allowances for new hires.

Data Center Abatement: Offers partial abatement of up to 75% of the taxes due for 10-to-20-year periods for personal property tax and sales and use tax.

BIG DEALS • Amazon announced in November 2016 it was planning to construct a $34 million fulfillment center and create 1.000 jobs in North Las Vegas.

•Solar energy manufacturer Sunpreme announced in July 2017 it would hire 200 new employees and invest $30 million in a facility in Clark County.

•ERG Aerospace announced in September 2017 it would relocate its current operations in Oakland, California, to McCarran and subsequently make Nevada its headquarters.

• Xtreme Manufacturing announced in September 2017 it would invest $18.4 million in a new building and add 200 jobs at its existing campus in Henderson.

BIG COMPANIES Zappos Switch SolarCity BrightSource Energy Four Fortune 500 companies headquartered in state, including: Las Vegas Sands MGM Resorts International Caesars Entertainment Wynn Resorts

EDCs

C-SUITE TESTIMONIALS

Nevada Governor’s Office of Economic Development diversifynevada.com

“Get it Done State.” —Elon Musk, CEO, Tesla

Las Vegas Global Economic Alliance lvgea.org Economic Development Authority of Western Nevada edawn.org

“Hyperloop Technologies will invest first in regions where we receive government advocacy to move fast. We are grateful for the support we have received from Governor Sandoval, the Nevada Office of Economic Development and Mayor Lee and his team from the city of North Las Vegas. —Rob Lloyd, CEO, Hyperloop Technologies

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New Hampshire TAXES 8.2% business profits tax

#7 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 88% of students graduated high school in 2016

35% of adults age 25

to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE 2.7%, less than national average of 4.1% QUALITY OF LIFE

7.00 out of 10, 2017

Chief Executive Best & Worst States for Business

POPULATION GROWTH 1.4% increase between 2010 and 2016

“I am proud that through our pro-growth initiatives, more people are working in New Hampshire today than at any other point in history. A strong, thriving workforce is necessary for our broader goals to boost economic development....

We’re all about the economy, and it’s working.” —Gov. Chris Sununu

RESEARCH INITIATIVES UNDERWAY

BIG DEALS

Announced in late 2016, the Advanced Regenerative Manufacturing Institute in Manchester will be the country’s 12th manufacturing innovation hub. Nearly $300 million in public-private investment from leading manufacturers and universities will help researchers develop cells, tissues and organs to restore function to U.S. veterans. The state has also seen recent expansion and investment from a number of manufacturers, such as NSA Industries and Danish pharmaceutical company Novo Nordisk.

• Plumbing supply distribution company FW Webb broke ground in August 2016 on a one-million-square-foot distribution center in Londonderry to serve the Northeast.

KEY INCENTIVES

BIG COMPANIES

Economic Revitalization Zone Tax Credit: Offers a tax credit of up to $240,000, for six years at $40,000 per year, against business profits and enterprise taxes for those located in an unused or underutilized industry park, land or structure.

Infosys Limited Liberty Mutual Insurance Universal Software DataServ Fidelity Investments Akken Tata Consultancy Services Liberty Life Assurance Sturm Ruger & Co.

R&D Tax Credit: Offers a tax credit of up to 10% of the business’ qualified manufacturing research and development expenditures, capped at $50,000 in any one year.

Coos County Job Creation Tax Credit: Offers up to a $1,000 credit against business enterprise tax for any new, full-time job paying wages equal to 200% of the minimum wage.

No Taxes: No use tax, sales tax, inventory tax, capital gains tax, broad-based income tax or professional service tax.

EDCs New Hampshire Economic Development nheconomy.com Business and Industry Association of New Hampshire biaofnh.com New Hampshire Economic Development Association nhedaonline.org Manchester Development Corp. manchesterdevelopmentcorp.com HIGHLIGHTED PROGRAM OR INITIATIVE

• Prudential Overall Supply broke ground in September 2016 on a 131,000-square-foot commercial laundry facility in Nashua to serve the Northeast.

• NSA Industries announced in October 2016, an expansion in Groveton with a 73,000square-foot facility and 50 new jobs.

C-SUITE TESTIMONIALS “Relocating central distribution to Londonderry from Amherst represents a major investment in our operations and a significant commitment to our customers and manufacturing partners....

This huge, state-of-the-art CD facility will allow us to offer our customers even more and better products and reach further into the Northeast.

We expect it will serve us indefinitely.”

—Jeff Pope, President, F.W. Webb Co. “We have many opportunities coming to fruition....We’re simply running out of space in our current facilities, and we are pleased to have found an excellent partner in the Groveton region to meet our growth needs.” —James Moroney, CEO, NSA Industries “Our team is thrilled to be building our newest facility in Nashua, New Hampshire. The location will provide our Northwest customers with additional products and service offerings and will help with our company’s expansion into additional markets.” —Tom Watts, President, Prudential Overall Supply

The Robotics Education Development Program offers state funding for all K-12 schools to start robotics programs and encourage students to take interest in the STEM fields.

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New Jersey TAXES 9% top corporate income tax

#50 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 90% of students graduated high school in 2016

37% of adults age 25

to 64 have a bachelor’s degree or higher

UNEMPLOYMENT RATE 4.9%, greater than national average of 4.1% QUALITY OF LIFE 4.98 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 1.7% increase between 2010 and 2016

Gov. Phil Murphy, elected in November 2017, will take office January 16, 2018, replacing incumbent Chris Christie, who was not eligible to run for re-election.

A BOOST FROM BIOSCIENCE

BIG DEALS

While New Jersey’s thriving pharmaceutical industry took a hit in recent years due to consolidation, the biosciences industry has more than taken up the slack. The sector has grown to 400 companies that have had a $36 billion impact since 2012. Irish specialty pharmaceutical organization Mallinckrodt recently announced an $80 million investment to consolidate operations in Bedminster, and Allergen also turned down a relocation to Landsdale, Pennsylvania, and recommitted to the state for its talent pool and $58 million in incentives.

• Nestlé Health Science announced in October 2015 a $60 million headquarters and R&D facility in Bridgewater.

KEY INCENTIVES Grow NJ: Offers tax credits of up to $5,000 per job per year, with bonus credits of up to $3,000 per job for businesses that are creating or retaining jobs in New Jersey.

Economic Redevelopment and Growth (ERG) Program: Incentive for developers and businesses to address revenue gaps in development projects.

Manufacturing Equipment and Employment Investment Tax Credit: Offers a tax credit for the acquisition of manufacturing equipment and/or for an increase in employees due to that equipment investment.

NJ CoVest Fund: Offers capital to early-stage technology and life sciences companies where limited funds are currently available and a funding gap exists.

Technology Business Tax Certificate Transfer (NOL) Program: Allows NJ-based companies to sell their NJ net operating tax losses and R&D tax credits to unrelated profitable corporations.

EDCs New Jersey Economic Development Authority njeda.com Newark Community Economic Development Corp. newarkcedc.org HIGHLIGHTED PROGRAM OR INITIATIVE New Jersey Career Connections creates a partnership with the state’s 19 community colleges and aims to empower at least 65% of adults with college degrees or credentials by 2025.

• Newell Brands announced in May 2016 it would relocate its headquarters from Atlanta to Hoboken with a $11 million investment and 300 new jobs.

• Food and household products importer Y International opened its first U.S. warehouse and distribution center in Lyndhurst in November 2016.

• Amazon announced its plans in April 2017 to open three 900,000-square-foot fulfillment centers in the state and add more than 2,500 jobs.

• German drug company Evotec AG opened its U.S. headquarters and an expanded facility in Princeton in May 2017.

BIG COMPANIES 21 Fortune 500 companies headquartered in state, including: Johnson & Johnson Prudential Financial Merck Honeywell International PBF Energy Cognizant Technology Solutions Newell Brands C-SUITE TESTIMONIALS “New Jersey is a place with a very rich talent base; it’s a good place to live....But more importantly, it’s a place where you can support entrepreneurial activity, especially in the biopharma area.” —Jay Tischfield, CEO and Scientific Director, RUCDR Infinite Biologics “I consider Audible’s move to Newark one of the best decisions we’ve made as a company. Newark’s transportation advantages, its convenience to New York City, its many cultural amenities and the presence of more than 40,000 college students should all accrue to the creation of a vibrant growth economy environment.”

—Donald Katz, Founder and CEO, Audible “There are many benefits of operating in New Jersey. We bring in paper from all over the world, so it’s important for us to be near the major ports.

We also ship internationally, so we must be close to proficient transportation. We’re located less than an hour from airports and New York City.”

—Lisa Hirsh, President and CEO, Accurate Box 2018 CEO GUIDE TO SITE SELECTION

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New Mexico TAXES 5.9% corporate income tax

#34 on the Tax

Foundation’s State Business Tax Climate Index ranking

EDUCATION 71% of students graduated high school in 2016

26% of adults age 25

to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE

6.1%, greater than

national average of 4.1%

QUALITY OF LIFE 5.30 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 1.1% increase between 2010 and 2016

THE FACEBOOK EFFECT

BIG DEALS

The announcement by Facebook in September 2016 that it would build a massive data center in Los Lunas has sparked a wave of excitement in the state. The social media company said in a statement that the facility will be one of the most advanced, energy-efficient centers of its kind in the world. Economic development leaders and CEOs from around the state are hailing it as a “big deal” that significantly raises New Mexico’s prominence on the radar of tech development.

• Facebook announced in 2016 it would construct a $250 million state-of-the-art data center in Los Lunas, then announced a second-phase expansion in July 2017.

KEY INCENTIVES Local Economic Development Act (LEDA): A flexible closing fund that enables the state to offset business expenses in expansions or relocations.

Job Training Incentive Program (JTIP): Offers flexible cash reimbursements of 50%–75% of employee wages to a business to fund on-the-job training for newly created jobs or expansions.

High Wage Jobs Tax Credit: Offers a tax credit equal to 10% of the wages and benefits paid for each new high-wage job created.

Single Sales Factor for Headquarters and Manufacturers: Offers a single sales factor apportionment methodology for corporations whose principal business activity is manufacturing or that have their headquarters located in the state.

Investment Tax Credit for Manufacturers: Offers a credit against gross receipts, compensating or withholding taxes equal to 5.12% of the value of equipment for companies that meet investment and job requirements.

EDCs New Mexico Economic Development Department gonm.biz New Mexico IDEA nmidea.com Santa Fe Office of Economic Development santafenm.gov/economic_development Albuquerque Economic Development abq.org HIGHLIGHTED PROGRAM OR INITIATIVE Job Training Incentive Program funds classroom and on-the-job training for newly-created jobs in expanding or relocating businesses for up to six months. JTIP funding has quadrupled since 2011.

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“When we lower taxes, cut through bureaucratic red tape and strengthen our incentives, companies choose New Mexico....

We will continue to make our state the best place to live, work and raise a family so that we can continue to create opportunities for New Mexicans.” —Gov. Susana Martinez

• Safelite announced in June 2016 it would create 900 new jobs and locate its newest contact center in Rio Rancho.

• Keter Plastic announced in January 2017 it would add 175 jobs and invest $36 million to relocate its West Coast manufacturing operations to Belen.

• SolAero Technologies announced in February 2017 that it would create 100 new high-tech manufacturing jobs and invest $10 million to relocate a newly acquired operation from California.

BIG COMPANIES Intel Honeywell Defense and Space Electronic Systems General Mills Thomas & Betts Safelite UnityBPO Lowe’s Union Pacific Railroad C-SUITE TESTIMONIALS “We are grateful for the support and businessfriendly environment that New Mexico has given us....Our New Mexico-based products have helped us to grow internationally, and we look forward to further developing our partnership with the great state of New Mexico.”

—Rob Holland, CEO, Flagship Food Group New Mexico has an ideal business climate for growing our business....We could locate elsewhere, but places like Austin, Denver or Phoenix wouldn’t provide incentives such as JTIP, LEDA or Rapid Workforce Development.

These generous incentive programs help us grow our business and create more jobs in New Mexico.” —Stephen Wade, CEO, UnityBPO “The governor has enacted bold reforms over the last six years that send a strong message to industry-leading companies like ours.”

—Tom Feeney, President and CEO, Safelite

A CEO’S GUIDE TO SITE SELECTION

New York TAXES 6.5% corporate income tax

#49 on the Tax

Foundation’s State Business Tax Climate Index ranking

EDUCATION 79% of students graduated high school in 2016

34% of adults age 25

to 64 have a bachelor’s degree or higher

UNEMPLOYMENT RATE 4.8%, greater than national average of 4.1% QUALITY OF LIFE 5.19 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 1.9% increase between 2010 and 2016

“New York has a deep, diverse talent pool and pro-growth environment that businesses need to succeed, and today, more companies are choosing New York to grow and diversify their business."

—Gov. Andrew Cuomo

CREATING A MANUFACTURING CLUSTER

BIG DEALS

You may not think of New York City as an advanced manufacturing hub, but that may change. Born of a 10-point action plan announced in November 2015 by New York City Mayor Bill de Blasio, Futureworks was created to unify the momentum in the advanced manufacturing scene and bolster it with resources from an economic development agency. The program includes workshops in the areas of digital, robotics, additive manufacturing and advanced materials.

• Aetna announced in June 2017 it will invest $84 million to establish its new corporate headquarters in Chelsea and will add 250 senior level jobs in the next five years.

KEY INCENTIVES Excelsior Jobs Program: Offers four fully refundable tax credits, including 6.85% of wages per new job, 2% of qualified investments, 50% of federal R&D tax credit and property tax credit in distressed areas.

New Markets Tax Credit Program (NMTC): Offers investment capital for operating companies and real estate development projects in low-income communities throughout the state.

START-UP NY: Offers new and expanding businesses the opportunity to operate tax-free for 10 years on or near eligible university or college campuses.

Employee Training Incentive Program (E-TIP): Offers refundable tax credits of up to 50% of eligible costs, or $10,000 per employee, to employers that procure skills training that upgrades or improves their productivity.

EDCs Empire State Development esd.ny.gov New York State Economic Development Council nysedc.org New York City Economic Development Corp. nycedc.com Capitalize Albany capitalizealbany.com HIGHLIGHTED PROGRAM OR INITIATIVE Futureworks NYC is a component of New York City's Industrial Action Plan to help new and existing manufacturers adopt new technologies and expand production in the city.

• Healthcare software company eHealth Technologies announced in July 2017 it would expand its facility in Henrietta and create an additional 215 new jobs.

• Amazon announced in September 2017 that it will expand its presence in New York City with an additional 2,000 finance, sales, marketing and IT jobs and a $55 million expansion.

• Amazon announced in September 2017 the creation of 2,250 new jobs and the construction of a $100 million fulfillment center in Staten Island.

• LEGOLAND announced in October 2017 it will construct a $350 million, 17-acre resort in Goshen.

BIG COMPANIES 55 Fortune 500 companies headquartered in state, including: J.P. Morgan Citigroup Goldman Sachs American Express Verizon Viacom CBS Time Warner Pfizer Travelers Voya Financial IBM C-SUITE TESTIMONIALS “We have spent a lot of time building relationships in the community, listening and responding to concerns, and we are looking forward to building a theme park that will enhance the community and be a tremendous neighbor.” —Nick Varney, CEO, Merlin Entertainments “We’re excited to expand our presence in New York—we have always found great talent here.”

—Paul Kotas, Senior Vice President, Worldwide Advertising, Amazon

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North Carolina TAXES 3% corporate tax (tax rate set to drop to 2.5% in 2019)

#11 on the Tax

Foundation’s State Business Tax Climate Index ranking

EDUCATION 86% of students graduated high school in 2016

28% of adults age 25

to 64 have a bachelor’s degree or higher

UNEMPLOYMENT RATE 4.1%, same as national average RIGHT TO WORK STATE

Yes QUALITY OF LIFE 7.93 out of 10, 2017 Chief Executive Best & Worst States for Business

“North Carolina has so much to offer growing companies, including our celebrated universities and community colleges, highly skilled workforce, competitive business climate and outstanding quality of life.”

—Gov. Roy Cooper

A GROWING BASE FOR EDUCATED TALENT

BIG DEALS

The rapidly growing state of North Carolina now has more than 10 million residents and is the ninth most populous state in the U.S. Wellrespected universities such as Duke and UNC Chapel Hill contribute to the strong talent base.

Credit Suisse announced in May 2017 that it would invest $70 million and add 1,200 jobs to its Raleigh operations. Many of these jobs are being relocated from New York City and other areas to help reduce costs.

• CSX announced in July 2016 it would build a $160 million intermodal rail terminal and create 149 new jobs in Rocky Mount.

KEY INCENTIVES Job Development Investment Grant (JDIG): Provides cash grants to offset the cost of locating or expanding a facility. Approved companies will be reimbursed up to 100% of withholding taxes for up to 25 years for new jobs.

One North Carolina Fund: Enables the governor to respond quickly to competitive job-creation projects with awards based on the level of investment, number of jobs created and location of the project.

North Carolina Community College System Customized Training Program: Offers free and customized workforce training through the state’s 58-campus community college system for new and expanding companies.

• Credit Suisse announced in May 2017 it will hire an additional 1,200 workers and construct a $70 million building at its campus in Research Triangle Park.

• Austrian company EGGER Wood Products announced in July 2017 it would establish its first U.S. manufacturing plant in Davidson County with a $700 million investment and 400 new jobs over the next six years.

• Allstate Insurance announced plans in August 2017 to expand its Charlotte operations center and add 2,250 new jobs by 2020.

• IT outsourcing firm Infosys selected Raleigh in September 2017 for its new innovation and technology hub.

BIG COMPANIES 12 Fortune 500 companies headquartered in state, including:

Building Reuse Program: Offers grants such as the Community Development Block Grant Building Reuse program and Rural Division Building Reuse program to renovate vacant industrial and commercial buildings.

Bank of America Lowe’s Duke Energy Nucor Reynolds American VF BB&T Sonic Automotive Laboratory Corp. of America Holdings

EDCs

C-SUITE TESTIMONIALS

Economic Development Partnership of North Carolina edpnc.com

“GKN Driveline is a global leader in the automotive industry and our innovative all-wheel drive and eDrive technologies position the company for growth in the coming years. North Carolina is an important part of our strategy, with strategically located facilities and an outstanding workforce.” —Phil Swash, CEO, GKN Driveline

POPULATION GROWTH

6.4% increase between 2010 and 2016

North Carolina Department of Commerce nccommerce.com Raleigh Economic Development raleigh4u.com Charlotte Regional Partnership charlotteusa.com HIGHLIGHTED PROGRAM OR INITIATIVE North Carolina Technology and Innovation Hub in Raleigh will support Infosys’s clients and develop a robust training program with the North Carolina Community College System.

“Access to first-rate talent, the ability to work with highly innovative companies and superb higher education resources drew us to Research Triangle Park, and the area continues to impress us as a great place to do business.” —Dr. Ludo Reynders, CEO, Premier Research “We looked at locations everywhere, including Seattle, Texas and Atlanta. Overall, North Carolina and Greensboro met our criteria best.” —Michimasa Fujino, President and CEO, Honda Aircraft

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North Dakota

“In order to help our students succeed in a global economy driven by dramatic, rapid and powerful changes in technology, we need to harness new approaches and new possibilities to provide students with innovative, project-based, experiential learning opportunities that better prepare them to be global citizens and lifelong learners.” —Gov. Doug Burgum

TAXES

TECH FLIES HIGH

HIGHLIGHTED PROGRAM OR INITIATIVE

4.31% corporate

While it’s one of the most sparsely-populated states, North Dakota has one of the fastestgrowing economies in the nation and is fast becoming a hub for unmanned aircraft systems (UAS). The state invested $13 million for infrastructure projects to establish the UAS training academy at the Grand Sky UAS Business and Aviation Park in Grand Forks. Northrop Grumman plans to expand its UAS operations in the state with a new hangar and research facility in Grand Forks. Other smaller UAS companies, such as SkySkopes, are setting up shop in the region.

Grand Sky was founded in 2016 as the country’s first commercial UAS (unmanned aerial systems) business and aviation park. It is being used by some of the world’s top UAS companies to test and develop new UAS technologies.

income tax (3.5% for corporations making a "water's edge" election)

#30 on the Tax

Foundation’s State Business Tax Climate Index ranking EDUCATION

28% of adults age 25

to 64 have a bachelor’s degree or higher

UNEMPLOYMENT RATE 2.5%, less than national average of 4.1% RIGHT TO WORK STATE

Yes QUALITY OF LIFE 5.00 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 12.7% increase between 2010 and 2016

• Midcontinent Communications announced in January 2017 it will construct a $12 million data center in Fargo.

KEY INCENTIVES

• Arrow Field Services announced in January 2017 it will construct a $100 million natural gas processing plant in Keene.

Renaissance Zone Program: Offers state and local tax incentives for five years for businesses that purchase, rehabilitate or develop properties in designated areas.

• North Dakota Soybean Processors announced in February 2017 it will add 60 new jobs and invest $287 million in a new processing plant in Spiritwood.

Workforce Recruitment Credit: Offers a credit of 5% of the compensation paid during the first 12 months to an employee hired to fill a hard-to-fill position. Salary must be at least 125% of state average wage.

• Border States Electric announced in April 2017 it will create 50 jobs and invest $18 million in a new headquarters in Fargo.

87% of students

graduated high school in 2016

BIG DEALS

New/Expanding Business Income Tax Exemption: Offers an income tax exemption for up to five years for a primary sector or tourism business that adds value to products or processes in the state.

Property Tax Exemption: Offers exemption on property tax for up to five years for a new or expanding business project for agricultural processors or for a project located on property leased from a government entity.

• Northrop Grumman announced in July 2017 it will invest $3.2 million and create 30 new jobs to expand at the aviation park in Grand Forks.

BIG COMPANIES Amazon Bobcat John Deere Steffes ComDel Innovation Titan Machinery Microsoft MBI Energy Services

EDCs North Dakota Department of Commerce, Economic Development & Finance business.nd.gov Economic Development Association of North Dakota ednd.org Bismarck-Mandan Development Association bmda.org Greater Fargo/Moorhead Economic Development Corp. gfmedc.com

C-SUITE TESTIMONIAL “We are delighted to officially begin operations here at Grand Sky, cementing our leadership in the development and use of autonomous systems in partnership with North Dakota’s UAS Community....We’ve long been a supporter of UAS and other activities in this region, including our relationships with area colleges and universities and the Northern Plains UAS Test Site.” —Janis Pamiljans, Corporate Vice President and President, Northrop Grumman Aerospace Systems

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Ohio TAXES .26% commercial activity tax on gross receipts of more than $1 million #45 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 83% of students graduated high school in 2016 26% of adults age 25 to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE 5.1%, greater than national average of 4.1% QUALITY OF LIFE 7.05 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 0.7% increase between 2010 and 2016

“World-class corporations, technology innovators and small business operators alike are realizing that Ohio’s strengthened economy, stable state finances and improved fiscal outlook set our state apart....

They see a fiscally strong state that’s a safe and welcoming place to do business—where their businesses can succeed.” —Gov. John Kasich

WELCOME TO THE KNOWLEDGE BELT

HIGHLIGHTED PROGRAM OR INITIATIVE

Manufacturing remains a key driver in Ohio’s GDP, but the Buckeye State has seen sharp diversification into biohealth, tech and innovative industries, like fintech. Financial services is now the second-largest private sector in Ohio and the sixth-largest such sector in the U.S. by GDP. A number of companies in the state, including KeyBank, Progressive and Kroger, joined forces in April to form a fintech business accelerator. Fintech71—named after I-71, which connects Cincinnati, Columbus and Cleveland—will focus on growing entrepreneurial activity and attracting more fintech companies to the state.

Choose Ohio First (STEM) Scholarship Program is funded by the Ohio Department of Higher Education and aims to support STEM education in the state. It has so far awarded more than 28,000 scholarships worth $107 million to students at 49 public and private institutions in Ohio.

KEY INCENTIVES State of Ohio Job Creation Tax Credit: Offers a performance-based tax credit for companies that create at least 10 new jobs with a minimum annual payroll of $660,000 and pay at least 150 percent of the federal minimum wage.

JobsOhio Economic Development Grant: Offers grants for fixed-asset and infrastructure investments for companies engaged in targeted industries and business functions.

JobsOhio Revitalization Program: Offers loans of up to $5 million and grants of up to $1 million for projects that create at least 20 jobs and develop abandoned or underutilized property.

Data Center Sales Tax Exemption: Offers a partial to full sales tax exemption on the purchase of eligible data center equipment for companies that meet minimum investment and payroll thresholds.

EDCs Ohio Economic Development Association ohioeda.com JobsOhio jobs-ohio.com The Columbus Region columbusregion.com Greater Cleveland Partnership gcpartnership.com City of Cincinnati Community & Economic Development choosecincy.com

BIG DEALS • Facebook announced in August 2017 it will create 100 jobs and construct a $750 million data center in New Albany.

• Amazon announced in August 2017 it will invest $750 million and create 2,000 new jobs at a distribution center in North Randall.

• Nestlé announced in February 2017 it will invest an additional $16.8 million and relocate 300 jobs to its growing campus in Solon.

• Payroll and human services provider Paycor announced in December 2016 it would add 1,000 new jobs and expand its Norwood headquarters.

• Fiat Chrysler Automobiles announced in July 2016 a $700 million investment and the creation of 700 new jobs to expand production of Jeep Wrangler at its Toledo plant.

BIG COMPANIES 25 Fortune 500 companies headquartered in state, including: Cardinal Health Kroger Proctor & Gamble Marathon Petroleum Nationwide Macy’s Progressive American Electric Power Goodyear Tire & Rubber FirstEnergy C-SUITE TESTIMONIAL “I am grateful to Team NEO, BioEnterprise and JobsOhio in particular, because at the end of the day, they are trying to grow this ecosystem in the biomedical healthcare sector. They have played a big role for me because they are connectors.

They see opportunities, which I may not see from my side, and are able to connect those opportunities together.” —Hiroyuki Fujita, founder and CEO, QED

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Oklahoma TAXES 6% corporate income tax

#32 on the Tax

Foundation’s State Business Tax Climate Index ranking

EDUCATION 83% of students graduated high school in 2016

A MILLENNIAL MECCA

BIG DEALS

While oil and gas is a critical part of the state’s economy, Oklahoma has also been trying to diversify. Urban revitalizations around the state have been attracting millennials and new sector growth. According to data from Realtor.com, Oklahoma City is the nation’s sixth-top city for millennials. WalletHub also declared it the seventh-best city to start a career, factoring in such things as availability of entry-level jobs, economic mobility and median starting salary.

• Google announced in September 2016 it will construct another four-story facility in Pryor, bringing its investment in the state to a total of $2 billion by 2018.

KEY INCENTIVES

24% of adults age 25

Quality Jobs Program: Offers a variety of incentives and cash rebates for companies that meet certain investment, payroll and job creation thresholds.

UNEMPLOYMENT RATE 4.4%, greater than national average of 4.1%

Investment/New Jobs Tax Credit Package: Offers a tax credit to manufacturers based on an investment in depreciable property or on the addition of full-time employees engaged in manufacturing, processing or aircraft maintenance.

to 64 have a bachelor’s degree or higher

RIGHT TO WORK STATE

Yes QUALITY OF LIFE 6.69 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 4.6% increase between 2010 and 2016

“Oklahoma offers multiple benefits to businesses looking to relocate and expand, as our state continues to diversify its economy, create new jobs and see growth in customer services and support operations.”

—Gov. Mary Fallin

Manufacturing Sales Tax Exemption: Offers a comprehensive sales tax exemption for manufacturers to purchase machinery, equipment, and tangible personal property used in operations.

• Preventative care technology company MedXM announced in April 2017 it will expand into Oklahoma City and add another 400 full-time jobs over the course of five years.

• Southwest Airlines announced in August 2017 it will add 100 new jobs and construct a $30 million maintenance facility at Will Rogers World Airport in Oklahoma City.

• Amazon opened a 300,000-square-foot sorting center in Oklahoma City in October 2017.

BIG COMPANIES Boeing General Electric Hobby Lobby OGE Energy AT&T Dell Five Fortune 500 companies headquartered in state:

Ad Valorem Tax Exemption: Allows qualifying manufacturing companies to abate ad valorem taxes for a period of five years.

ONEOK Devon Energy NGL Energy Partners Chesapeake Energy Williams

EDCs

C-SUITE TESTIMONIALS

Oklahoma Department of Commerce okcommerce.gov

“Collaboration is key to leading the unconventional resource revolution. In Governor Fallin and the people of Oklahoma, we’ve found excellent partners.” —Jeff Immelt, Chairman and CEO, General Electric

Oklahoma Economic Development Authority oeda.org Oklahoma Works oklahomaworks.gov Greater Oklahoma City greateroklahomacity.com Grow Metro Tulsa growmetrotulsa.com HIGHLIGHTED PROGRAM OR INITIATIVE Launch Oklahoma was established in 2016 and aims to have 70% of the state’s population between the ages of 25 and 64 trained beyond high school by 2025. It offers registered apprenticeship programs in 179 different occupations in manufacturing, aerospace and energy.

“You all [Oklahomans] work together so incredibly collaboratively. It’s really quite unique.

And that doesn't happen in every state and community. And that’s why we’re here. We had lots of choices. But it really comes down to ‘What’s the right choice? What’s the right atmosphere? Who is pro-business, and where can we hire the best people?'” —Terry Lundgren, Executive Chairman, Macy’s “You have to have talent. You have to have people who know IT, cooling infrastructure and power infrastructure....The career tech infrastructure in Oklahoma is robust and works well. The state can tune the workforce to the needs of the industry through the framework of its career tech schools.” —Mike Wooten, Operations Manager, Google 2018 CEO GUIDE TO SITE SELECTION

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Oregon TAXES 7.6% top corporate income tax rate

#10 on the Tax

Foundation’s State Business Tax Climate Index ranking

EDUCATION 75% of students graduated high school in 2016

31% of adults age 25 to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE 4.3%, greater than national average of 4.1% QUALITY OF LIFE 6.80 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 6.8% increase between 2010 and 2016

RAPID GROWTH AND EXPANSION IN APPAREL

BIG DEALS

MANUFACTURING

• Daimler Trucks North America announced in April 2016 it will invest $150 million to expand its corporate headquarters in Portland and add 400 new jobs.

The Beaver State has had one of the healthiest economies in the nation for the past few years with growth in multiple sectors. It remains the Silicon Valley for the outdoor and apparel industry, home to such companies as Columbia Sportswear, Nike and Adidas North America.

The manufacturing sector is being driven by the Oregon Manufacturing Innovation Center, which opened in Scappoose in January as a partnership between state government, higher education and industries. The OMIC will promote research and development and training in the industry.

KEY INCENTIVES Enterprise Zone: Offers local tax exemptions on property and equipment for three to five years for companies investing and hiring in an enterprise zone. Many zones also offer special incentives for investments in qualifying rural facilities or in electronic commerce operations.

Business Expansion Program: Offers a cash-based forgivable loan equivalent to the estimated increase in personal income tax revenue from hiring over two years.

• Amazon announced in September 2017 it will invest $2.7 billion over the coming years to launch three new fulfillment centers in the state that will create 3,500 new jobs.

• Mary’s Harvest Fresh Foods announced in August 2017 it will invest $16 million in a new facility and add 100 new jobs.

• Cascades announced in July 2017 it will open a $64 million, 284,000-square-foot facility in Scappoose and will create 70 new manufacturing jobs.

• Mitsubishi Gas Chemical announced in October 2017 it will invest $34 million in an automated chemical processing plant in Forest Grove.

BIG COMPANIES Daimler Trucks North America Adidas North America Seven Fortune 500 companies headquartered in state:

Strategic Investment Program: Exempts a portion of very large capital investments from property taxes for 15 years.

Nike Precision Castparts Lithia Motors StanCorp Financial Group Schnitzer Steel Industries Greenbrier Cos. Columbia Sportswear

EDCs

C-SUITE TESTIMONIALS

Business Oregon oregon4biz.com

“There is a large pool of technical talent in Portland with the kind of skills we need; it is close to a wide range of outdoor activities; it is an incredible place to live and an easy place to recruit workers.” —Matt Tucker, co-founder, Jive Software

Oregon Investment Advantage: Offers income tax reduction over several years for new operations in the state.

Oregon Economic Development Association oeda.biz Prosper Portland prosperportland.us Strategic Economic Development Corp. sedcor.com HIGHLIGHTED PROGRAM OR INITIATIVE WorksSource Oregon is a statewide network of public and private groups that helps employers and workers connect. Train Oregon, its free online training program, offers residents access to thousands of hours of career preparatory and training content to build skills.

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“Oregon continues to show the world that our state is a great place to live, visit, and do business. Oregon businesses and workers develop world-class products and ideas—and that’s something to celebrate.” —Gov. Kate Brown

“The food is better in Portland, I never have to drive and the coffee and beer blow the Bay Area’s out of the water.” —Gino Zahnd, CEO, Cozy Software

A CEO’S GUIDE TO SITE SELECTION

“When companies choose to relocate to Pennsylvania from another state, it shows that we have the business climate that companies large and small look for when they plan to thrive.” —Gov. Tom Wolf

Pennsylvania TAXES 9.99% corporate income tax #26 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 88% of students graduated high school in 2016 29% of adults age 25 to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE 4.7%, greater than national average of 4.1% QUALITY OF LIFE 6.00 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 0.6% increase between 2010 and 2016

ENERGIZED BY ENERGY

BIG DEALS

The U.S. Energy Information Administration reports that the state is now the second-largest natural gas producer after Texas. In the summer of 2016, Royal Dutch Shell announced a $4 billion investment in an ethane cracker facility outside of Pittsburgh, the first plant of its kind in the Northeast. It isn’t only energy.

A recent report by the Biotechnology Innovation Organization found that the while the number of pharmaceutical companies in the state has fallen, the number of research and testing laboratories is increasing.

• FedEx announced in May 2016 it will create more than 280 jobs and invest $227 million to establish a distribution center in Allen Township.

KEY INCENTIVES

• Shell Chemical announced in July 2016 it will create 6,000 temporary construction jobs and 600 permanent jobs at a $1 billion petrochemical complex to be constructed in Beaver County.

• Cerner announced in August 2016 it would create 250 new jobs and invest $75 million to upgrade its newly acquired campus in Malvern.

• BAE Systems Land & Armaments announced in May 2017 it will invest $44 million and create 530 new jobs to expand operations at its facility in West Manchester Township.

Pennsylvania First: Comprehensive funding tool used to facilitate increased investment and job growth. Can be used for things such as machinery, workforce training, infrastructure and land improvements.

• Tyson Warehousing Services announced in July 2017 it will create 114 jobs and invest $60 million to expand it cold storage warehouse and distribution center in Cass Township.

WEDnetPA: Offers funds to be used for a wide range of worker training for new and existing employees.

BIG COMPANIES

Jobs Creation Tax Credits: Offers $1,000 per job tax credit to approved businesses that agree to create at least 25 jobs in three years or expand their existing workforce by at least 20%.

Keystone Innovation Zone Tax Credit: Offers tax credits to for-profit companies less than eight years old that operate in the boundaries of the Keystone Innovation Zone.

EDCs Pennsylvania Department of Economic & Community Development dced.pa.gov Pennsylvania Economic Development Association peda.org Pittsburgh Regional Alliance pittsburghregion.org PIDC Philadelphia pidcphila.com HIGHLIGHTED PROGRAM OR INITIATIVE The new Manufacturing PA initiative is a $12 million, statewide partnership of resource centers, research universities and Pennsylvania manufacturers aiming to accelerate the growth of advanced manufacturing in the state.

21 Fortune 500 companies headquartered in state, including: AmerisourceBergen Comcast Rite Aid Kraft Heinz PNC Financial Services Group Dick’s Sporting Goods Aramark Hershey Toll Brothers United States Steel C-SUITE TESTIMONIALS “We're proud to have called the commonwealth home for nearly three decades, and we are excited to continue to expand in Pennsylvania as we grow our workforce and presence in the U.S.” —Jennifer Morgan, President, SAP North America “We are proud to continue to call Pennsylvania home as we grow Aramark successfully into the future. On behalf of more than 14,000 Aramark Service Stars working here, I would like to thank Governor Wolf and the Commonwealth of Pennsylvania for being committed partners as we conducted the search for our new global headquarters.” —Eric Foss, President and CEO, Aramark

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Rhode Island TAXES 7% corporate income tax

#41 on the Tax

Foundation’s State Business Tax Climate Index ranking

EDUCATION 85% of students graduated high school in 2016

32% of adults age 25

to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE

4.2%, greater than

national average of 4.1%

QUALITY OF LIFE 5.91 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 0.3% increase between 2010 and 2016

“Thanks to our investments in skills training and economic development, our state's biotechnology industry is strong and getting stronger.”

—Gov. Gina Raimondo

CEOs STEPPING UP

BIG DEALS

In December 2016, some of Rhode Island’s most powerful CEOs formed Partnership for Rhode Island, looking to bolster the state’s drifting economy. GE announced it would open a GE Digital information technology center in Providence to develop new software applications for high-performance computing.

The state is offering more than a dozen incentives, such as an innovation tax credit, a 4% manufacturing investment tax credit, a 10% high-performance manufacturing investment tax credit and the Rebuild Rhode Island Tax Credit.

• GE Digital announced in August 2016 it will hire up to 300 industry professionals at a new office in Providence.

KEY INCENTIVES Qualified Jobs Tax Incentive Credit: Offers tax credits of up to $7,500 per year for 10 years to companies that relocate or expand jobs in the state.

Rebuild Rhode Island: Offers up to a 30% investment in a project's cost to cover financing gaps in real estate projects, including commercial office, industrial, residential and mixed-use developments.

Innovation Vouchers: Offers enterprises with less than 500 employees grants of up to $50,000 to fund R&D assistance from in-state institutional partners, including universities, research centers and medical centers.

EDCs Rhode Island Commerce Corp. commerceri.com Commerce RI edc.ri.gov Greater Rhode Island Economic Development greaterri.com Providence Economic Development providenceeconomicdevelopment.net HIGHLIGHTED PROGRAM OR INITIATIVE Real Jobs Rhode Island is a workforce development program that features 33 sector partnerships across 16 industries in more than 150 skills training programs. Since 2015, the program has trained nearly a thousand workers for 300 companies.

• Johnson & Johnson announced in January 2017 it will create 75 new full-time jobs and locate one of its health technology centers in Providence.

• Agoda Travel Operations USA announced in February 2017 it will create 200 new jobs at its first U.S.-based customer experience group office in Providence.

• United Natural Foods announced in February 2017 it will create up to 270 new full-time jobs and expand its corporate headquarters in Providence.

• Wexford Science & Technology broke ground in September 2017 on a 191,000-square-foot innovation complex.

BIG COMPANIES United Natural Foods Ocean State Job Lot Virgin Pulse General Dynamics Electric Boat Four Fortune 500 companies headquartered in state: CVS Pharmacy Textron United Natural Foods Citizens Financial Group C-SUITE TESTIMONIALS “We were being wooed by two other states, but the ability to collaborate quickly with state leadership, the governor, the various mayors, the leadership in the legislature was much easier than it was in many other states.” —Don Sweitzer, Chairman, IGT Global Solutions “There are some great colleges and universities in the state. As a matter of fact, we punch well above our weight for the quality of the institutions in Rhode Island, and that's a big draw for us to be here.” —Bob Dimuccio, President and CEO, Amica Mutual Insurance “The cost of living and the quality of life here are unsurpassed versus any other location.”

—Tom Gilbane Jr., Chairman and CEO, Gilbane and Gilbane Building

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South Carolina

“South Carolina’s business-friendly climate continues to attract companies in every industry, and we’re proud to welcome Arthrex to our growing business community.” —Gov. Henry McMaster

A BRIGHT FUTURE FOR MANUFACTURING

BIG DEALS • Adger Solar announced in November 2016 it would invest $200 million in two solar farm projects in Clarendon County.

EDUCATION 83% of students graduated high school in 2016

According to the Census Bureau, South Carolina is now one of the fastest-growing states in the nation. And it’s attracting not only people but corporate investments. The South Carolina Department of Commerce says the state recruited more than $3.4 billion in capital investment in 2016, much of it in the manufacturing sector. BMW announced in June it would invest $600 million in its Spartanburg facility to grow the site’s total workforce to 9,000 and annual production to 450,000 vehicles.

Samsung also announced its intent to open a $380 million plant in Newberry County.

26% of adults age 25

KEY INCENTIVES

TAXES 5% corporate income tax

#37 on the Tax

Foundation’s State Business Tax Climate Index ranking

to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE

3.9%, less than national average of 4.1%

RIGHT TO WORK STATE

Yes QUALITY OF LIFE 7.94 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 7.3% increase between 2010 and 2016

Fee-in-Lieu of Property Taxes (FILOT): Offers a negotiated lower assessment ratio and stabilized millage rates for up to 30 years for companies making capital investments of at least $2.5 million.

Job Development Credit: Offers reimbursement of personal withholding taxes of new employees to companies that create at least 10 new full-time jobs.

Manufacturing Investment Tax Credit: Offers a one-time income tax credit of up to 2.5% of a company’s investment in new production equipment.

• Samsung announced in June 2017 it would invest $380 million in a manufacturing facility and create more than 950 new jobs in Newberry County.

• Ruiz Food Products announced in July 2017 it would invest $79 million and create 700 new jobs over the next several years at its existing operations in Florence County.

• Volvo Cars announced in September 2017 it would add 1,900 new jobs and invest an additional $250 million in its Berkeley County operations.

• Orthopedic medical device company Arthrex announced in October 2017 it would create 1,000 new jobs and invest $69 million in manufacturing operations in Anderson County.

BIG COMPANIES 12 Fortune 500 companies headquartered in state, including:

EDCs

Bank of America Lowe’s Duke Energy Nucor Reynolds American VF BB&T Sonic Automotive Laboratory Corp of America Quintiles IMS Holdings

South Carolina Department of Commerce sccommerce.com

C-SUITE TESTIMONIALS

Research & Development Tax Credit: Offers a credit equal to 5% of the taxpayer’s qualified research expenses.

SC Power Team scpowerteam.com Charleston Regional Development Alliance crda.org Columbia Development Corp. columbiasc.gov/cdc HIGHLIGHTED PROGRAM OR INITIATIVE Announced in January 2017, the South Carolina Innovation Plan aims to foster growth in advanced manufacturing, life sciences, biotech and computer software by developing the workforce and marketing the state’s innovative successes.

“We are honored how the Florence community and the state of South Carolina have embraced our joining their business community. The growing demand for our products requires we increase capacity as we continue to service our East Coast customer base. This seven-year expansion plan will allow us to do just that.” —Rachel P. Cullen, President and CEO, Ruiz Food Products “Today’s announcement not only underscores Volvo’s commitment to the United States, but also our commitment to South Carolina. This now brings our total investment to more than $1 billion dollars and adds nearly 2,000 jobs.”

—Lex Kerssemakers, President and CEO, Volvo Cars of North America

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South Dakota TAXES No corporate income tax

#2 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 84% of students graduated high school in 2016

27% of adults age 25

to 64 have a bachelor’s degree or higher

UNEMPLOYMENT RATE 3.5%, less than national average of 4.1% RIGHT TO WORK STATE

Yes QUALITY OF LIFE 6.69 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 6.3% increase between 2010 and 2016

“Economic development isn’t just about business retention and recruitment, and it’s not just about job creation and housing development, either....Economic development means laying the groundwork for a community to thrive by developing education programs that will provide new opportunities and investing in our future workforce.” —Gov. Dennis Daugaard

A GOVERNMENT TO SUPPORT BUSINESS

BIG DEALS

South Dakota’s business tax burden is ranked No. 2 by the Tax Foundation, with no corporate income tax, personal income tax, personal property tax or business inventory tax. There are also generous incentives. One challenge the state continues to face is workforce recruitment and retention. While South Dakota has been outpacing the nation in population growth for the past few years, there’s also a growing need for talent.

• Farmers Business Network announced in August 2016 an expansion at its national operations center in Sioux Falls with 40 new jobs.

KEY INCENTIVES Low or No Taxes: No corporate income tax, personal income tax, personal property tax, business inventory tax or inheritance tax.

South Dakota Jobs Grant Program: Offers funds to offset the upfront costs associated with relocating or expanding operations or upgrading equipment. Offered for facility projects with costs of less than $20 million and equipment upgrades of less than $2 million.

Ethanol Infrastructure Incentives: Offers support for the development of the local ethanol industry, with funds to cover up to 90% of the cost of pump storage tank installation.

Heartland Energy ONE Incentive: Offers a special energy-only rate fixed for three years for new retail loads with an approximate demand of one megawatt or higher.

EDCs South Dakota Governor’s Office of Economic Development sdreadytowork.com sdreadytopartner.com Sioux Falls Development Foundation siouxfallsdevelopment.com Forward Sioux Falls forwardsiouxfalls.com Rushmore Region Economic Development Alliance rushmoreregion.com

• Otter Tail Power Co. announced in March 2017 plans to seek regulatory approval to construct a gas-fired electricity-generation station in Deuel County.

• Hendrix Genetics announced in June 2017 it will invest $25 million in turkey breeding operations in Beresford.

• Win Chill broke ground in June 2017 on a 205,000-square-foot, full-service refrigerated foods warehouse and distribution center in Foundation Park.

BIG COMPANIES Shaw Industries Walmart Hy-Vee Tyson Fresh Meats Citibank South Dakota NA Larson Manufacturing C-SUITE TESTIMONIALS “The state of South Dakota has been good to us. As a company, as a business, as a biotech industry. this is the place to be. And we truly believe that one of the successes we had was just making the decision all those years ago to come to this great state and grow our business here.” —Eddie Sullivan, CEO, SAB Biotherapeutics “It’s more than just a low-cost of doing business... it’s more about the Midwest work ethic, the humble and genuine attitude of the people who work and live here. That’s really what makes it worth it.” —Craig Snyder, CEO, Sioux Falls Tower “We feel very fortunate to have started our business in South Dakota—the state consistently ranks as one of the top locations in America to start and run a business.” —Brandon Maddox, owner, Dakota Silencer

HIGHLIGHTED PROGRAM OR INITIATIVE The Build Dakota Scholarship Fund was the first of its kind in the nation and offers students state-funded, full scholarships to technical institute programs determined to meet "high-need" jobs in the state.

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““We’re proud that Tennessee remains a place where our dedicated workforce still makes things.”

—Gov. Bill Haslam

Tennessee TAXES 6.5% excise tax (.25% franchise tax)

#14 on the Tax

Foundation’s State Business Tax Climate Index ranking

EDUCATION 89% of students graduated high school in 2016

25% of adults age 25

to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE

3.0%, less than

national average of 4.1% RIGHT TO WORK STATE

Yes QUALITY OF LIFE 7.63 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 4.8% increase between 2010 and 2016

EXPANDING WORKFORCE AND EDUCATION

BIG DEALS

Tennessee’s Drive to 55 program aims to equip 55% of Tennessee residents with a four-year college degree or certificate by the year 2025.

The initiative offers high school seniors tuition-free attendance at any of the state’s 13 community colleges or 27 colleges of applied technology. Companies have responded with notable investments and expansions. Last year, GM announced a $788 million expansion at its facility in Maury County, and, in 2015, Nissan further expanded its facility at its Smyrna campus.

• Lowe’s announced in July 2016 it will add 600 new jobs and construct a $100 million fulfillment center in Coopertown.

KEY INCENTIVES

• LG Electronics announced in February 2017 it will create 600 new jobs at a $250 million appliance manufacturing facility to be constructed in Clarksville.

• Nokian Tyres announced in May 2017 it will create 400 new jobs and construct a $360 million tire manufacturing facility in Dayton.

• Phillips announced in August 2017 it will create 800 jobs and establish a major office hub in Nashville.

FastTrack Program: Offers grants for infrastructure improvements, job training assistance and general economic development to companies that meet job creation and capital investment requirements.

• Automotive supplier DENSO announced in October 2017 it will create 1,000 new jobs and invest $1 billion in a facility in Maryville.

Job Tax Credit: Offers a tax credit of up to $4,500 per job to offset up to half of franchise and excise taxes in any given year for companies that create at least 25 net new jobs and invest at least $500,000.

BIG COMPANIES

Industrial Machinery Tax Credit: Offers a 1%–10% tax credit for the purchase, third-party installation and repair of industrial machinery.

11 Fortune 500 companies headquartered in state, including:

Sales and Use Tax Exemptions: Offers various exemptions on sales and use tax for call centers, data centers, headquarters, manufacturers, distributors and R&D operations.

EDCs Tennessee Department of Economic and Community Development tnecd.com Tennessee Valley Authority tva.com/Economic-Development Greater Chattanooga Economic Partnership greaterchatt.com Economic Development Growth Engine for Memphis and Shelby County growth-engine.org Nashville Area Chamber of Commerce nashvillechamber.com/economic-development HIGHLIGHTED PROGRAM OR INITIATIVE Drive to 55 aims to increase the number of Tennesseans with a post-secondary degree or certificate to 55% by 2025. Offers free tuition for residents for two-year technical or community college programs.

Volkswagen Group of America Nissan North America Gulfstream Aircraft Carlstar Group

FedEx HCA Holdings Dollar General AutoZone International Paper Tractor Supply LifePoint Health C-SUITE TESTIMONIALS “Tennessee’s excellent business climate and skilled workforce were among the main reasons to establish this facility in Clarksville....It puts us close to our customer base throughout the U.S. Being in Tennessee also gives us an advantage from a logistics standpoint that we couldn’t necessarily find elsewhere.” —William Cho, President and CEO, LG Electronics North America “We chose Nashville because the city is a long-standing hub for the music industry, has a strong cultural connection to our business, has a vibrant and growing economy and offers a low cost of living and doing business.” —Kris Ahrend, President of Shared Services, Warner Music Group

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“The Texas economy continues to drive business growth, creating opportunities that make the Lone Star State a premier location for job seekers and creators alike.” —Gov. Greg Abbott

Texas TAXES No corporate income tax (.75% franchise tax for revenues of $1,100,000 and up, except .375% for retail and wholesale)

#13 on the Tax Foundation’s State Business Tax Climate Index ranking

THE FASTEST-GROWING METROPOLIS

BIG DEALS

While the Lone Star state’s growth cooled with the collapse of oil prices, Texas still boasts one of the fastest-growing regions in the country.

According to data from the U.S. Bureau of Economic Analysis, Austin-Round Rock and San Antonio-New Braunfels each had the highest GDP growth of any metropolitan area in the nation in 2016, 5% and 5.9% respectively. That’s more than double the 2.5% average of U.S. metropolitan areas.

• Kubota announced in May 2017 plans to relocate the headquarters for its tractor and credit corporations from Torrance, California, to Grapevine. The company will invest $51 million and create 340 new jobs.

KEY INCENTIVES

• Charles Schwab broke ground in September 2017 on a seven-acre campus in Westlake. It is expected to create 1,300 jobs.

EDUCATION 89% of students graduated high school in 2016

Texas Enterprise Fund: Offers a performancebased cash grant for projects that include significant job creation and capital investment where a Texas site is competing with an out-of-state option.

28% of adults age 25

Skills Development Fund: Offers grants to help companies form partnerships with local community colleges and technical schools to provide custom job training.

to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE

3.9%, less than

national average of 4.1% RIGHT TO WORK STATE

Yes QUALITY OF LIFE 7.55 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 10.8% increase between 2010 and 2016

Sales and Use Tax Exemptions: Offered for manufacturing machinery and equipment for natural gas and electricity and data centers that meet minimum thresholds.

Texas Enterprise Zone Program: Offers sales and use tax refund based on new and retained jobs associated with the qualified business site.

EDCs Texas Economic Development Council texasedc.org Texas Economic Development Corp. businessintexas.com Greater Houston Partnership houston.org San Antonio Economic Development Foundation sanantonioedf.com City of Dallas Office of Economic Development dallasecodev.org Austin Chamber of Commerce Economic Development austinchamber.com/economic-development HIGHLIGHTED PROGRAM OR INITIATIVE The 60x30 Higher Education Plan aims to increase educational achievement and workforce readiness to ensure 60% of the state’s population age 25 to 34 has a secondary education credential by 2030.

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• NTT DATA officially moved its North American Headquarters to Plano in June 2017, creating 6,300 jobs.

• Pei Wei announced in August 2017 plans to move its global headquarters from Scottsdale, Arizona, to Irving.

• Brakebush Brothers announced in September 2017 the construction of a 315,000-square-foot processing plant in Greenville, which will create more than 800 new jobs.

BIG COMPANIES 50 Fortune 500 companies headquartered in state, including: ExxonMobil AT&T American Airlines Group Energy Transfer Equity Tenet Healthcare Southwest Airlines Fluor Kimberly-Clark Dell Technologies Valero Waste Management GameStop Yum! Brands C-SUITE TESTIMONIALS “Their business-friendly climate, state incentives and geographical location were important factors in our final decision.” —Masato Yoshikawa, President and CEO, Kubota Tractor “We decided to stay here in Texas and expand our operations because it was the best business solution for our company. We’re looking forward to seeing our presence grow and becoming even more engaged in the business community.” —Grady Walker, Chairman and CEO, Hudson Products

A CEO’S GUIDE TO SITE SELECTION

Utah TAXES 5% corporate income tax

#8 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 85% of students graduated high school in 2016

31% of adults age 25

to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE 3.3%, less than national average of 4.1% RIGHT TO WORK STATE

Yes QUALITY OF LIFE 7.93 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 10.4% increase between 2010 and 2016

“Utahns often boast the best opportunity America has to offer—and for good reason.

We have successfully fostered an atmosphere in which advancements in disruptive technology, digital media, life sciences, aerospace and more abound.” —Gov. Gary R. Herbert

SURGING TECH GROWTH IN THE

HIGHLIGHTED PROGRAM OR INITIATIVE

SILICON SLOPES

Talent Ready Utah promotes STEM education initiatives to train high school students for jobs in aerospace manufacturing, diesel technology and life sciences.

Like other Western states, access to the outdoors and quality of life are significant assets in recruiting and retaining talent. While Utah used to be an extraction and agriculture state, it has quickly propelled itself into the tech and aerospace sectors. “Silicon Slopes,” an area that encompasses Salt Lake City, Provo and Park City, is a hotbed of tech entrepreneurship.

The Milken Institute named the University of Utah as a top school for the commercialization of technology, and a number of locally grown startups, including Pluralsight, Qualtrics, Domo and InsideSales, have been valued at more than $1 billion each.

KEY INCENTIVES Economic Development Tax Increment Financing: Offers a refundable tax credit for up to 30% of new state revenues paid over the life of the project. Available to companies that add at least 50 jobs paying wages of 110% of the county average.

Rural Fast Track (RFT): Offers up to $50,000 in grant funding and incremental funding for new jobs paying above county average wage.

Industrial Assistance Fund (IAF): Offers post-performance grants for the creation of high-paying jobs in the state.

Life Science and Technology Tax Credits: Offers post-performance tax credit for up to 35% of the investment over three years.

Recycling Market Development Zone Tax Credit: Offers a 5% income tax credit on the cost of machinery and equipment, and a 20% income tax credit on eligible operating expenses for companies that recycle materials in their manufacturing process.

EDCs Utah Governor’s Office of Economic Development business.utah.gov Economic Development Corp. of Utah edcutah.org Utah Valley Economic Development utahvalleyinformation.com/utahvalley

BIG DEALS • UPS announced in September 2016 nearly 200 new jobs and a $200 million investment in its Salt Lake City facility.

• PillPack announced in October 2016 it would expand its operations in the state with 300 new jobs and a $32 million investment.

• Adobe announced in July 2017 the addition of 1,200 new jobs over the next 20 years and a $90 million investment in a phase-two building at its Lehi facility.

• Pluralsight announced in September 2017 a $371 million expansion and said it will create more than 2,400 additional jobs in the next decade.

BIG COMPANIES C.R. England Vivint Autoliv Delta Air Lines JetBlue Adobe Goldman Sachs eBay Lifetime Products Merit Medical Systems C-SUITE TESTIMONIALS “I cannot think of a better place to do business.

Utah has the combination of a skilled, well-educated workforce; excellent quality of life options; and state and local governments that promote business growth.” —Susan Opp, President, L3 Communications Systems-West “Silicon Slopes's deep talent pool for software engineers and other technical jobs is thriving. That's why we plan to keep investing in this community.” —Aaron Skonnard, CEO and co-founder, Pluralsight

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Vermont TAXES 8.5% top corporate income tax #47 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 88% of students graduated high school in 2016

36% of adults age 25

to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE 2.9%, less than national average of 4.1% QUALITY OF LIFE 5.09 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 0.2% decrease between 2010 and 2016

“Innovation spaces are an important way for Vermont to encourage business growth from within as we work to grow our economy and create more opportunities for Vermonters.” —Gov. Phil Scott

STRATEGIZING BY SECTOR

HIGHLIGHTED PROGRAM OR INITIATIVE

Vermont 2020, a statewide comprehensive economic development strategy, identified 12 target sectors to grow in the economy and laid out high-level strategies to make financing accessible, educate the workforce and nurture a culture of innovation. One issue that continues to challenge the state is its aging workforce.

A report by the Vermont Futures Project says 10,000 more people are leaving the workforce than entering it each year.

The state’s Talent Pipeline Management Program uses supply chain management strategies to expand the role of employers as end customers of education and workforce systems. The program’s efforts are improving the employability of the state’s students and better aligning employer needs with education and workforce programs.

KEY INCENTIVES Vermont Employment Growth Incentive: Offers a cash payment to companies based on qualifying job creation, payroll and capital investments, with enhancements for green businesses and job creation in specific labor markets.

Vermont Training Program (VTP): Offers grants to cover up to 50% of the cost of training for new hires and incumbent workers.

Vermont Brownfields Revitalization Fund: Offers grants and loans to private developers, nonprofits and municipalities for the remediation of brownfield sites.

R&D Credit: Offers a state tax credit of up to 27% of the federal tax credit for research and development.

BIG DEALS • GW Plastics announced in November 2015 an expansion of its Royalton manufacturing facility and technology center.

• G.S. Precision announced in December 2015 a $17 million expansion and 100 new jobs over the next five years.

• BHS Composites announced in January 2016 it would create 75 new jobs and locate a manufacturing facility in St. Johnsbury.

• Chroma Technology announced in July 2016 an $18 million, 40,000-square-foot expansion at Bellows Falls with the creation of 26 new jobs.

BIG COMPANIES

EDCs

Logic Supply Dealer.com MyWebGrocer Revision Military Keurig Green Mountain

State of Vermont Agency of Commerce and Community Development accd.vermont.gov/economic-development

C-SUITE TESTIMONIAL

Think Vermont thinkvermont.com Montpelier Development Corp. mdc-vermont.com Burlington Community & Economic Development Office burlingtonvt.gov/CEDO

“When building a new business—specifically for early-stage technologies—network is crucial. Places like Vermont, where the community is committed to building businesses and supporting local entrepreneurs, already have a strong network in place." —Aaron Pollak, CEO, VENTURE.co

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Virginia TAXES 6% corporate income tax (plus gross receipts tax)

#31 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 91% of students graduated high school in 2016

36% of adults age 25 to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE 3.6%, less than national average of 4.1% RIGHT TO WORK STATE

Yes QUALITY OF LIFE 7.03 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 5.1% increase between 2010 and 2016

Gov. Ralph Northam, elected in Novermber 2017, will take office January 13, 2018, replacing incumbent Terry McAuliffe, who was not eligible for re-election.

A GLOBAL DATA CENTER

HIGHLIGHTED PROGRAM OR INITIATIVE

Home to more than 4.5 million square feet of data center space, Virginia is a transit point for 70% of the world’s Internet traffic and is the largest data center market in the U.S. Amazon Web Services recently announced a new corporate campus in Herndon, adding 1,500 new jobs to the 7,000 workers it already employs in the state. Leading tech company IOMAXIS also plans to add more than 500 jobs over the next three years to support its mission to thwart cyber threats.

GROW Capital Jobs Council adopted a “growth and diversification” plan in August to nurture projects that boost the number of high-paying, private sector jobs. Initiatives will focus on industries with potential for high growth and put more emphasis on commercialization of applied research at education institutions.

KEY INCENTIVES

• Niagara Bottling announced in August 2016 it would create 76 new jobs and construct a $95 million facility in Chesterfield County.

Commonwealth’s Development Opportunity Fund (COF): Offers “deal closing” incentives at the governor’s discretion to secure a location or expansion in the state.

Virginia Investment Partnership Grant (VIP): Encourages continued capital investment with discretionary performance incentives for manufacturers or R&D operations that have operated in the state for at least three years and make a capital investment of at least $25 million.

Tobacco Region Opportunity Fund (TROF): Provides performance-based monetary grants and loans to 34 counties to assist in the creation of new jobs and investment to revitalize the region.

Virginia Jobs Investment Program (VJIP): Offers customized recruiting, training and consulting services to reduce the workforce development costs of new and expanding companies.

New Economy Workforce Credential Grant Program: A pay-for-performance workforce training program that offers up to two-thirds of the cost of the program to support high-demand occupations that require industry-based certifications.

EDCs Virginia Economic Development Partnership yesvirginia.org Virginia Economic Developers Association goveda.org Richmond Economic Development Authority richmondeda.org Greater Richmond Partnership grpva.com

BIG DEALS • Dollar Tree announced in August 2016 a $110 million investment and 600 new jobs at its headquarters in Greenbrier.

• Microsoft announced in November 2016 its fifth expansion and a $256 million investment at its data center in Mecklenburg County.

• Amazon announced in March 2017 it would open a new fulfillment center in Clear Brook and create more than 1,000 new jobs.

BIG COMPANIES 22 Fortune 500 companies headquartered in state, including: Freddie Mac General Dynamics Capital One Financial Northrop Grumman Dollar Tree Altria Group Performance Food Group CarMax WestRock AES C-SUITE TESTIMONIALS “Nestlé USA carefully considered a number of locations, and Arlington hits all the marks. The area offers appealing benefits for our current employees, as well as a great talent pool for the future. This location allows us to be closer to our business operations, our customers and other important stakeholders.” —Paul Grimwood, Chairman and CEO, Nestlé USA “Grupo Phoenix evaluated various location options to build upon its future in the United States and chose Virginia due to a variety of factors, including a central location that allows us to be within 400 miles of 80% of the U.S. East Coast population.” —Alberto Peisach, CEO, Grupo Phoenix 2018 CEO GUIDE TO SITE SELECTION

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Washington TAXES No corporate income tax (B&O tax varies by industry)

#17 on the Tax Foundation's State Business Tax Climate Index ranking EDUCATION 79% of students graduated high school in 2016

33% of adults age 25 to 64 have a bachelor's degree or higher UNEMPLOYMENT 4.8%, greater than national average of 4.1% QUALITY OF LIFE 6.51 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 8.4% increase between 2010 and 2016

"Global connections and a strong international relationship are among the things that make Washington a great state for business and help us maintain one of the most vibrant economies in the nation."

—Gov. Jay Inslee

THE STATE FOR STEM

BIG DEALS

While Boeing moved its headquarters to Chicago in 2001, and Amazon announced they’ll situate their new second HQ elsewhere, Washington remains one of America’s top locations for STEM talent. Microsoft is still headquartered here; it is home to 80,000 of 100,000 Boeing jobs nationwide; and Amazon now employs more than 40,000 people in the state. Escalating real estate values in San Francisco means tech firms have been expanding their workforce in the Puget Sound area.

• RealWear announced in March 2017 it will expand operations at a new office in Fort Vancouver and add 100 employees in the first five years.

KEY INCENTIVES Business and Occupation (B&O) Credits: Offers tax credits up to $2,000 per position with annual wages of $40K or less and up to $4,000 per position with wages over $40K for manufacturers, R&D laboratories and commercial testing facilities in a rural counties.

Community Economic Revitalization Board Committed Private Partner Program: Offers loans of up to $2 million and grants up to $150,000 for the construction of public infrastructure to support business expansion.

Reduced B&O Tax Rate for Aerospace Business: Offers a reduction in B&O tax liability for manufacturers and processors for hire in the aerospace sector.

B&O Tax Credit for Customized Training Program: Offers a B&O tax credit of 50% of the full cost of a training program, up to $500,000 in training allowances per year.

• Airborne ECS announced in May 2017 it will relocate its headquarters and design and prototype facilities from West Hurley, New York, to Port Angeles. The company will add 100 new jobs in the first five years.

• Infoblox designated its Tacoma office in June 2017 as a Center of Excellence for Technology Innovation and said it would expand its workforce there by 150 people by the end of 2018.

• Katerra announced in September 2017 it will add 150 new jobs and construct a 250,000-square-foot manufacturing facility in Spokane Valley.

BIG COMPANIES 10 Fortune 500 companies headquartered in state, including: Costco Amazon Microsoft Starbucks PACCAR Nordstrom Weyerhaeuser Expedia Expeditors International of Washington Alaska Air Group C-SUITE TESTIMONIALS

EDCs Department of Commerce commerce.wa.gov Choose Washington State choosewashingtonstate.com Seattle Economic Development Commission seattleedc.com Greater Spokane advantagespokane.com HIGHLIGHTED PROGRAM OR INITIATIVE The Washington Technology Industry Association's Apprenti program works with the tech industry to find mid-tier jobs and combines paid on-the-job training and education for placement in high-skill occupations.

“I think the preponderance of technologists in the [Silicon] Valley causes them to lose sight of the real world. Seattle, on the other hand, has just the right mix; enough of us to feel part of the tribe, but in small enough measure that we don't, inadvertently, create an echo chamber bubble of boredom.” —Spencer Rascoff, CEO, Zillow “I think we are very accepting of different cultures, different ways of doing business, and I think the companies that are in Washington really could represent [entrepreneurship] across the whole country when you look at Microsoft, Amazon, Starbucks and, soon, some amazing stories.” —Mark Anderson, CEO, Anderson Hay & Grain

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West Virginia TAXES 6.5% corporate income tax

#19 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 90% of students graduated high school in 2016

19% of adults age 25

to 64 have a bachelor’s degree or higher

UNEMPLOYMENT RATE 5.1%, greater than national average of 4.1% RIGHT TO WORK STATE

Yes QUALITY OF LIFE 6.38 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 1.2% decrease between 2010 and 2016

“Companies from around the world are discovering West Virginia is a profitable place to do business due to the state’s market location with access to more than 50% of the U.S. population, abundant natural resources, a skilled workforce, an improved business climate and incentive programs and support from a pro-business state government.” —Gov. James C. Justice

MAKING THE TRANSITION FROM COAL

HIGHLIGHTED PROGRAM OR INITIATIVE

West Virginia has faced tough economic times in recent years due to the collapse of its coal industry. According to the WVU College of Business and Economics, the state produced 80 million tons of coal in 2016, roughly half of what it produced in 2008. The state is aiming to capitalize on new opportunities arising in the shale gas industry, and also in manufacturing.

In 2016 Procter & Gamble announced a $500 million investment in a one million-square-foot facility on a 458-acre site in Martinsburg. Danish Insulation manufacturer ROXUL also announced a $150 million manufacturing plant in the city of Ranson, which will place production near major population centers in the Northeast, Mid-Atlantic and Midwestern U.S.

The Governor’s Guaranteed Work Force Program (GGWFP) offers financial and customized technical assistance to the state’s new and expanding businesses for training and upgrading the skills of workers.

KEY INCENTIVES Economic Opportunity Tax Credit: Offsets up to 80% of corporate net income tax and personal income tax attributed to qualified investment for companies that create at least 20 new jobs within a specified time limit.

Special Property Tax Valuation: Offers up to a 95% property tax deduction for certain sectors, including chemicals, polymer metals, data centers and aviation.

Manufacturing Investment Tax Credit: Offers a tax credit against up to 60% of corporate net income tax based on qualified investment in eligible manufacturing property.

Corporate Headquarters Relocation Credit: Offers a credit to offset up to 100% of business and occupation tax, corporate income tax and personal income tax for a period of up to 13 years for companies that relocate their headquarters to the state and create 15 new jobs in the first year.

EDCs West Virginia Economic Development Authority wveda.org West Virginia Department of Commerce westvirginia.gov Charleston Area Alliance charlestonareaalliance.org Huntington Area Development Council hadco.org

BIG DEALS • ROXUL announced in July 2017 it will create 150 new jobs and invest $150 million in a manufacturing plant in Ranson.

• Hino Motors Manufacturing announced in September 2017 it will construct a $100 million facility in Mineral Wells and add 250 new jobs by 2020.

• Toyota announced in September 2017 it will invest $115 million to create a new production line at its facility in Buffalo.

• Solvay Technology Solutions announced in October 2017 it will add 40 new jobs and invest $70 million to double its manufacturing capacity in Pleasants County.

BIG COMPANIES Hino Motors Manufacturing USA Procter & Gamble Toyota Mylan Pharmaceuticals Murray American Energy Amazon TeleTech ResCare C-SUITE TESTIMONIALS “I am very pleased to announce that we plan to purchase and make the former Coldwater Creek distribution center in Mineral Wells, West Virginia, the new home of Hino truck production in the U.S. The new plant, which is four times the size of our current plant, will allow us to combine several assembly operations under one roof—providing us with significant efficiency gains.” —Takashi Ono, President, Hino Motors Manufacturing USA “The folks we have building engines in West Virginia are among the best in the business.

Toyota West Virginia is the only Toyota plant in North America to produce both four-cylinder and V6 engines and six- and eight-speed transmissions.” —Leah Curry, President, Toyota Motor Manufacturing West Virginia

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Wisconsin TAXES 7.9% corporate income tax

#38 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 88% of students graduated high school in 2016

ATTRACTING BIG INVESTMENTS

BIG DEALS

Wisconsin has been rising through the ranks of economic development with strong momentum, enhancing its business climate with tax reform and business-friendly incentives. German Gummy Bear manufacturer Haribo recently announced construction of its first North American plant in Pleasant Prairie. Taiwanese electronics manufacturer Foxconn announced in July that it would construct a $10 billion plant in southeast Wisconsin. The project, expected to be operational by 2020 and to create up to 13,000 jobs, was fueled by a package of incentives worth up to $3 billion for capital costs, workforce development and tax exemptions.

• Dollar General announced in September 2015 plans to build a $79 million, one-million-squarefoot distribution center in Janesville and add 550 jobs.

KEY INCENTIVES

• Generac Power Systems announced in August 2017 it would construct a $73 million expansion at its global headquarters in Waukesha and add 400 new jobs.

28% of adults age 25

to 64 have a bachelor’s degree or higher UNEMPLOYMENT RATE

3.4%, less than

national average of 4.1% RIGHT TO WORK STATE

Yes QUALITY OF LIFE 7.33 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 1.6% increase between 2010 and 2016

Enterprise Zone Tax Credit: Offers refundable tax credits for companies undertaking major expansion projects or relocating major business operations from other states to Wisconsin.

Manufacturing and Agriculture Credit: Eliminates tax on income from manufacturing activity in Wisconsin. Credit amounts to 75%, resulting in an effective income tax rate of .4%.

Brownfields Grant Program: Offers grants to local governments and businesses for developing commercial and industrial sites that have been affected by environmental contamination.

• German candy company Haribo announced in March 2017 it would locate its first manufacturing facility in North America in Pleasant Prairie.

The company will invest $220 million and create 385 jobs.

• Chinese technology company Foxconn announced it would open a $10 billion advanced manufacturing campus in southeastern Wisconsin and create 13,000 jobs. It will be the largest greenfield foreign direct investment in U.S. history.

BIG COMPANIES Dollar General ABC Supply Ashley Furniture Industries Schneider Electric Kwik Trip 10 Fortune 500 companies headquartered in the state, including:

Qualified New Business Venture Program (QNBV): Drives investment to innovate early-stage companies by allowing them to claim a 25% tax credit on the amount invested in a QNBV-certified business.

Johnson Controls Northwestern Mutual ManpowerGroup Kohl’s American Family Insurance

EDCs

C-SUITE TESTIMONIALS

Wisconsin Economic Development Corp. inwisconsin.com

“In the end, it became clear that Wisconsin was the best alternative for the long-term competitiveness of the company. It came down to Kenosha County and Wisconsin because of the favorable business climate and better long-term economics.” —Keith Smith, President, Vonco Products

Wisconsin Economic Development Association weda.org Forward Wisconsin forwardwi.com Metropolitan Milwaukee Association of Commerce mmac.org/economic-development1.html HIGHLIGHTED PROGRAM OR INITIATIVE The Think-Make-Happen initiative is supported by the Wisconsin Economic Development Corporation, partners and the public to drive interest in living, working and succeeding in the state.

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“This is a truly transformational step for our state, our people and our economy, and Wisconsin is ready. Through Foxconn’s historic $10 billion investment and the creation of 13,000 new family-supporting jobs, the most high-tech, cutting-edge technology in the world will be made in America, right here in Wisconsin.” —Gov. Scott Walker

“Wisconsin is a great place to grow our company. The state has world-class health systems and leading global healthcare technology companies and, above all, Wisconsin has great people...a business environment that attracts innovation and enterprise.” —Neal Long, CEO, ConsortiEXDynamic Recycling

A CEO’S GUIDE TO SITE SELECTION

Wyoming TAXES No corporate income tax

#1 on the Tax Foundation’s State Business Tax Climate Index ranking EDUCATION 80% of students graduated high school in 2016

26% of adults age 25

to 64 have a bachelor’s degree or higher

MOVING BEYOND ENERGY

HIGHLIGHTED PROGRAM OR INITIATIVE

Due to energy dependence and plummeting oil prices, Wyoming’s economy has had a bumpy ride of late. Last year, Gov. Matt Mead announced the ENDOW (Economically Needed Diversity Options for Wyoming), a 20-year strategic plan to coordinate economic diversification efforts across the state. The New Growth Alliance, which includes Campbell, Sheridan and Johnson counties in the northeastern part of the state, is aiming to diversify with tech. New Growth Alliance CEO David Simonsen says the region has been expanding its community college system; Sheridan College is nearing completion of a renovation and expansion of its Technical Education Center to produce more skilled tradespeople.

Coders of the West fosters coding, programming and technical skills in K-12 schools and connects students to internship opportunities at local firms.

UNEMPLOYMENT RATE

KEY INCENTIVES

4.2%, greater than

Business Ready Community Grant and Loan Program: Offers grants or loans of up to $3 million to cities, towns or counties for infrastructure improvements to attract businesses.

national average of 4.1% RIGHT TO WORK STATE

Yes QUALITY OF LIFE 6.92 out of 10, 2017 Chief Executive Best & Worst States for Business POPULATION GROWTH 3.9% increase between 2010 and 2016

“Year after year, we are recognized as #1 among states for our business-friendly tax climate and as one of the best states to start a business. Wyoming has no state income or corporate tax, and our internet connectivity is second to none....Wyoming is not just a place to be, it is the place to build your business and live life to the fullest.” —Gov. Matthew Mead

Economic Development Large Project Loans: Offers loans of $5 million and up to finance the purchase, construction and installation of buildings and equipment.

Workforce Development Grants: Offers grants of between $1,000 and $4,000 per worker for training of new or existing employees.

Sales Tax Exemption: Offers sales tax exemptions for manufacturers on equipment and energy consumption used. Data centers can also qualify and are offered reduction grants of up to $2.25 million over the course of three years to reimburse accredited utility expenses.

BIG DEALS • HIVIZ Shooting Systems, which moved its core operations center to Laramie in 2013, announced in September 2016 it would add 20,000 square feet to its headquarters and create more than 70 new jobs.

• Hydroponics manufacturer Bright Agrotech announced in December 2016 it would hire 40 new employees and build its new headquarters in Laramie.

• Tungsten Heavy Powder announced in March 2017 it would add 30 new jobs and construct a 15,500-square-foot manufacturing facility, Tungsten Parts, in Laramie.

• Microsoft is currently constructing a $200 million data center expansion, its third expansion in the state since it announced plans to build a data center in Cheyenne in 2012.

BIG COMPANIES Arch Coal National Outdoor Leadership School Tata Chemicals Jackson Lake Lodge Sinclair Oil Sierra Trading Post Trihydro Advanced Coal Technology Vacuum Technologies C-SUITE TESTIMONIALS

EDCs Wyoming Business Council wyomingbusiness.org Wyoming Economic Analysis Division eadiv.state.wy.us Cheyenne LEADS cheyenneleads.org Greater Cheyenne Chamber of Commerce cheyennechamber.org

“The benefits the state provides both manufacturers and, certainly, companies like ours that are fast-growth companies is just extraordinary....Wyoming is a great place with solid folks.” —Mike Thomas, Chief Operating Officer, HIVIZ Shooting Systems “The state has a lot of space available, they’ve got business parks, they have great incentives to bring manufacturers to Wyoming, and we’ve got resources like the community college happy to work with us. There’s a great workforce here.”

—Carey Ryerson, Vice President of Manufacturing Operations, Magpul Industries

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D.C. Councilmember David Grosso has put forward a bill that would declare the mayor to be the governor of the District, and the D.C. Council would be renamed the Legislative Assembly of Washington, D.C.

Washington D.C. TAXES 9.2% corporate income tax

#47 on the Tax

Foundation’s State Business Tax Climate Index ranking

EDUCATION 69% of students graduated high school in 2016

55% of adults age

25 to 64 have a bachelor’s degree or higher

UNEMPLOYMENT RATE 6.6%, greater than national average of 4.1% POPULATION GROWTH 13.2% increase between 2010 and 2016

GOING BEYOND GOVERNMENT

BIG DEALS

While it’s still known as the federal hub, the city is seeing a growing culture of innovation fueled by tech-oriented millennials. WeWork, a global co-working space being used by both startups and companies like Microsoft and GE, has expanded its local presence from 2,000 desks to 8,000 desks in only a year. D.C. continues to struggle with one of the country's highest costs of living.

• The redevelopment of the Walter Reed Army Medical Center began in April 2017.

KEY INCENTIVES Qualified High-Tech Companies (QHTC): Offers tax credits for wages paid to and cost of training disadvantaged employees.

Creative and Open Space Modernization Grant: Offers tax rebate of up to the lesser of 10% of the total value of qualified improvements or $1 million for QHTCs that renovate or improve offices.

EDCs Washington DC Economic Partnership wdcep.com Office of the Deputy Mayor for Planning and Economic Development dmped.dc.gov Fairfax County Economic Development Authority fairfaxcountyeda.org HIGHLIGHTED PROGRAM OR INITIATIVE D.C.’s economic strategy aims to grow the private sector by 20% to $100 billion by 2021. The plan is to create a customer-centric business and regulatory environment, improve access to capital, grow the talent network and create more affordable housing.

Sources for State Metrics: Tax Ranking: The Tax Foundation; College graduates: U.S. Census Bureau; Unemployment Rate: Bureau of Labor Statistics, October 2017; Regulatory Climate: QuantGov FRASE Index; Population Growth: U.S. Census Bureau State-Specific Sources: Tax rate: Alabama Department of Revenue, Arizona Department of Revenue, Taxfoundation. org/state/Arkansas, State of California Franchise Tax Board, Colorado General Assembly, Connecticut General Assembly; Delaware Department of Finance, District of Columbia Office of the Chief Financial Officer, Florida Department of Revenue, Georgia Department of Revenue, Idaho State Tax Commission, Indiana Department of Revenue, Iowa Department of Revenue, Kansas Department of Revenue, Kentucky Cabinet for Economic Development, Louisiana Department of Revenue, Maine Revenue Services, Maryland Department of Commerce, Massachusetts Department of Revenue, Michigan Department of Treasury, Research Department of the Minnesota House of Representatives, State of Mississippi Department of Revenue, Missouri Department of Revenue, Montana Department of Revenue, Nebraska Department of Revenue, State of Nevada Department of Taxation,New Hampshire Department of Revenue Administration, New Jer-

• Indian pharma Granules India announced in May 2017 it will invest $35 million and expand its R&D and manufacturing capabilities in Fairfax County.

• Amazon Web Services announced in June 2017 it will expand its presence in Fairfax County with a new corporate campus and will add 1,500 jobs.

• Yelp announced in August 2017 it will opening a new office in Washington, D.C., and add 500 jobs.

BIG COMPANIES 17 Fortune 500 companies headquartered in Fairfax County/Washington D.C. area, including: Freddie Mac General Dynamics Capital One Northrop Grumman Hilton Leidos NVR C-SUITE TESTIMONIALS “Washington, D.C., is a natural place for Yelp’s next office, offering a vibrant local community and access to top-tier talent.

The city’s burgeoning technology sector is a welcoming setting... as we focus on building the best technological products to connect people with great local businesses.” —Jeremy Stoppelman, co-founder and CEO, Yelp “Proximity to Washington, D.C., Dulles Airport and Metro’s silver line increases our ability to conduct business face-to-face and reach a diverse employee base.” —Venkatesh Joshi, President, MSI

sey Division of Taxation, New Mexico Department of Taxation and Revenue, New York State Department of Taxation and Finance, Economic Development Partnership of North Carolina, North Dakota Office of State Tax Commissioner, Ohio Department of Taxation, Oklahoma Tax Commission, Oregon Department of Revenue, Pennsylvania Department of Revenue, Rhode Island Department of Taxation, South Carolina Department of Revenue, 1 South Dakota Department of Revenue, Tennessee Department of Revenue, Texas Comptroller of Public Accounts, Utah State Tax Commission, Vermont Agency of Administration Department of Taxes, Virginia Tax, Washington Department of Revenue, West Virginia State Tax Department, State of Wisconsin Department of Revenue, Wyoming Department of Education High school graduation rate: Alabama Department of Education, U.S. Department of Education(Arizona) Arkansas State Board of Education, California Department of Education, Colorado Department of Education, Connecticut Office of the Governor, Delaware Department of Education, District of Columbia Public Schools, Florida Department of Education, Georgia Department of Education, Idaho State Department of Education, Indiana Department of Education, Iowa Department of Education, Kansas State Department of Education,

Kentucky Department of Education, Louisiana Department of Education, Maine Department of Education, Maryland State Department of Education, Massachusetts Department of Elementary & Secondary Education, MI School Data, Minnesota Department of Education, Mississippi Department of Education, Missouri Department of Elementary & Secondary Education, National Center for Education Statistics(Montana), Nebraska Education Profile, State of Nevada Department of Education, New Hampshire Department of Education, State of New Jersey Department of Education, New Mexico Public Education Department, New York State Education Department, North Carolina State Board of Education, North Dakota Department of Public Instruction, Ohio Department of Education, Oklahoma State Department of Education, Oregon Department of Education, Pennsylvania Department of Education, Rhode Island Department of Education, South Carolina Department of Education, South Dakota Department of Education, Texas Education Agency, Tennessee Department of Education, Utah State Board of Education, Virginia Department of Education, Washington Office of Superintendent of Public Instruction, West Virginia Department of Education, Common Data Project(Vermont), Wisconsin Information System for Education, Wyoming Department of Education

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