(Left-right) N.C. Department of Commerce Economic Development Representative Bernard Torain, Jones Lang LaSalle Vice President Hilary Holmes and Commerce Secretary Keith Crisco in Dallas on March 27
Texas site selection consultants meet N.C.'s economic development team
On March 27, 30 site selection consultants gathered at the Rosewood Mansion hotel in Dallas, Texas, to hear an update on current business conditions in the state from N.C. Department of Commerce Secretary Keith Crisco and other state economic developers. With 2012 project activity remaining strong, Crisco detailed the many ways North Carolina is meeting the challenging environment and providing companies the competitive advantages they need to thrive in the state. The Friends of North Carolina sponsored the event.
Governor Bev Perdue and executives from Reed Elsevier at a ribbon-cutting ceremony on March 28
Reed Elsevier holds ribbon-cutting for Cary expansion
Reed Elsevier Inc., a world leading provider of professional information solutions, held a ribbon-cutting ceremony March 28 at its new operations in Cary. The company plans to create 350 jobs over the next five years and invest $1.75 million. The project was made possible in part by state grants from the Job Development Investment Grant.
To help facilitate this expansion, the state Economic Investment Committee voted to award a Job Development Investment Grant to Reed Elsevier. JDIGs are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state and which would not be undertaken in North Carolina without the grant.
Under the terms of the JDIG, the company is eligible to receive a grant equal to 75 percent of the state personal income withholding taxes derived from the creation of new jobs for each of the 10 years in which the company meets annual performance targets. If Reed Elsevier meets the targets called for under the agreement and sustains them for 10 years, the JDIG could yield $8.86 million in maximum benefits for the company.
In addition, up to $2.95 million could be added to the state's Utility Fund for infrastructure improvements in economically distressed counties. When a JDIG is awarded in Tier 3 counties such as Wake, 25 percent of the grant is allocated to this fund to encourage economic development in less prosperous areas.
State grant helps pharmaceutical manufacturer expand in Kannapolis
Governor Bev Perdue announced March 26 that Ei Inc., a developer and manufacturer of topical pharmaceutical and skin care products, will expand its operations in Rowan County. The company plans to create 119 jobs and invest $13.2 million during the next three years in Kannapolis. The project was made possible in part by a $500,000 grant from the One North Carolina Fund.
"North Carolina is known worldwide as a center for cutting-edge pharmaceutical and bioscience companies," Perdue said. "Our state's top-notch workforce and job training programs create a business climate where businesses can thrive in a global marketplace."
The One North Carolina Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.
North Carolina continues to have a top-ranked business climate. Through Perdue's JobsNOW initiative, the state works aggressively to create jobs, train and retrain its workforce and lay the foundation for a strong and sustainable economic future.
Airbus A350 XWB composite panel production at Spirit AeroSystems' facility in Kinston (Photo courtesy of Spirit AeroSystems)
Spirit's investment is paving the way for a more robust aerospace cluster
Six years after it began the process of selecting a U.S. site for expansion beyond its home base of Wichita, Kan., Spirit AeroSystems is on track to be one of North Carolina's leading aerospace employers - and certainly one of the Kinston area's most significant corporate drivers of economic growth. It can be that influential a player thanks to its location at the North Carolina Global TransPark, a multimodal transportation park in Lenoir County, about 75 miles southeast of Raleigh-Durham. A Foreign Trade Zone since 1996, the park until recently has lacked a major industrial tenant with the ability to attract related suppliers and investors to the 2,500-acre site. That's changing.
That's the Spirit (Site Selection, March 2012)
Nanotech conference announces final agenda
The NanoBusiness Commercialization Association, the Center of Innovation for Nanobiotechnology, and the N.C. Department of Commerce's Office of Science & Technology have announced the final agenda for the Nanotech Commercialization Conference April 4-5 at the American Tobacco Campus in Durham.
The two-day conference will feature a wide variety of influential keynote speakers and panel discussions on topics such as venture capital, cybersecurity, commercialization, environmental health safety, nanomedicine, research, nanomanufacturing, and industrial espionage. See the full agenda. Discount advance conference registrations and discount hotel reservations are being accepted.
RockTenn opens doors to renovated factory in Marion
RockTenn executives and local officials proudly cut the ribbon March 22 and opened the doors for the company's newly renovated and expanded plant, which is located at the old Swift Galey site.
Ten months ago, Governor Bev Perdue joined executives from RockTenn and local officials at the Marion Depot to announce that the maker of corrugated and consumer packaging and recycling solutions would expand its operations in Marion and add new jobs. The RockTenn facility for Marion would move out of its building in downtown Marion and relocate to the old Swift Galey building on U.S. 70 East, which has 300,000 square feet. RockTenn announced it would create 124 new jobs and invest $23 million into the old Swift Galey site.
RockTenn opens doors to renovated factory in Marion (WSOC-Charlotte, March 22)
XPO opens Charlotte center
XPO Logistics Inc. has opened its North American Operations Center to support its network of freight brokerage, freight forwarding and expedited transportation locations nationwide.
XPO announced in February that it will hire 200 in the Charlotte center, as reported by the Charlotte Business Journal. The company later said that number could double within five years.
XPO opens Charlotte Center (Charlotte Business Journal, March 23)
Video: Quintiles says N.C.'s quality of life is great
John Ratliff, president and COO of Quintiles points out how from universities to the arts to sports, the quality of life in North Carolina is great. See the video.
"We believe that the City of Kannapolis is an excellent location to develop and manufacture products that will significantly improve lives. Ei is very appreciative of the economic development support of Governor Perdue, Department of Commerce Secretary Crisco and N.C. Representative Fred Steen, who were instrumental in helping us to compete for this project in North Carolina"
—Mike Kane, CEO of Ei Inc., on the company's plans to expand in Kannapolis
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Red Hat tops $1B in revenue
Red Hat, the Linux software company that found a way to make money from free software, has joined the exclusive billion-dollar-revenue club.
The Raleigh business reported after the markets closed Wednesday that revenue for the fiscal year that ended Feb. 29 rose 25 percent to $1.13 billion. Fourth-quarter revenue rose 21 percent to $297 million, ahead of analysts' estimates.
A year ago, in a video interview with N.C. Department of Commerce editorial staff, Jim Whitehurst, president and CEO of Red Hat, explained what a high-growth technology company needs to succeed:
- Extraordinary educational system that produces an educated technology talent pool
- Low cost of living, low taxes and a high quality of life to retain employees
- A solid industry cluster that allows professionals to interact, sparking creativity and innovation that pushes the outer margins of development
- Accessible government entities willing to listen to industry ideas and needs
- Low overall cost of doing business
- Collaborative opportunities with industry, higher education and government
Red Hat revenue passes $1 billion milestone (The News & Observer - Raleigh, March 29)
Uptown Charlotte
Census: Charlotte urban area was fastest-growing
No urban area with 1 million or more people grew faster in the century's first decade than the Charlotte urban area, new U.S. Census Bureau data show.
Charlotte's urban area grew 64.6 percent, to 1.25 million people, from 2000 to 2010.
The Census, which released the data March 26, broadly defines an urban area as "densely developed residential, commercial and other nonresidential areas." It uses the data to distinguish the number of U.S. citizens living in urban areas as compared to rural ones.
Charlotte urban area was fastest-growing in U.S. from 2000-2010 (The Charlotte Observer, March 27)
N. C. Secretary of Commerce Keith Crisco listens as Selma Mayor Cheryl Oliver thanks the state for its assistance in the town's new industrial site. (Photo courtesy of The Selma News)
Selma receives certification for new industrial site
N.C. Department of Commerce Secretary Keith Crisco paid a visit to the Selma Town Council meeting recently to personally present the town with the state's official certification of a new industrial site the town has been working on, to be known as Selma Crossings.
Crisco praised Selma for its site saying it puts the town in the forefront of getting industry.
"This means you are ready to go," said Crisco. "Things are very competitive in industrial recruitment and the bar continues to rise."
Selma Crossings Industrial site is a 154-acre site under option from different land owners adjacent to I-95. It has gone through a 32-step process that tells potential industrial companies that the site is ready for construction and that there are no problems in starting immediate construction.
Selma praised for new industrial site called Selma Crossings (The Selma News, March 26)
Featured Certified Site
This week's Certified Site is the WestPark A-Duplin County Business & Industry Center (Warsaw, Duplin County). This 124-acre industrial park is a shovel ready certified industrial park consisting of 98 contiguous acres owned by Duplin County. The industrial park is served by a DOT road, water, sewer, gas and rail. In 2010, West Park was voted by the North Carolina Railroad Company as Best Large Industrial Site in North Carolina. View all the documents for this Certified Site. View all documents for this Certified Site.
Since 2001, the N.C. Certified Sites Program has provided a statewide inventory of industrial sites that have undergone a rigorous pre-qualification process. The program criteria were updated in 2009 to better meet the expectations of consultants and companies operating on a tight timeframe, and looking to reduce risk in the site selection process. All information about the state's Certified Sites is available online as part of the Buildings and Sites component of AccessNC. Search for a Certified Site.
ABB's North American headquarters is located in Cary, and the company's U.S. Corporate Research Center is located in Raleigh at North Carolina State University's Centennial Campus, with a focus on electric power grid reliability and availability, transmission and distribution system solutions and grid capability optimization and asset management.
Learn more.
Site location project activity in North Carolina is tracked by the N.C. Department of Commerce's Division of Business and Industry. These metrics include the number of new projects assigned to economic developers; the number of economic development project announcements; and the number of announced jobs created and capital invested.
Jan. 1 - March 29, 2012
| New projects assigned: |
110 |
| Projects announced: |
30 |
| Jobs created: |
4,393 |
| Capital invested: |
$1,182B |
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