CONTENTSMay 2019T H E M A G A Z I N E O F C O R P O R A TE R E AL E S T A TE S TR A TEG Y A N D E C ONOM I C D E V E L OP M E N TV O L U M E 6 4 , N U M B E R 366 THE GLOBAL BEST TO INVEST REPORTSite Selection’s 10th annual ranking of world markets lists the nations that won the most capital investment overall and per capita in 2018.86 AN INTERVIEW WITH VENEZUELAN PRESIDENT JUAN GUAIDÓ89 THE BEST TO INVEST TOP AGENCY AWARDSThe Top IPA awards recognize excellence at national and regional economic development agencies worldwide.124 THE PROSPERITY CUPSite Selection’s annual recognition of the most competitive state-level economic development agency.142 THE MAC AWARDSOur Top U.S. Economic Development Groups win a Mac Award for excellence in economic development, honoring the enduring legacy of Site Selection’s founding publisher, Mac Conway.▼ COVER STORYCover design by Richard Nenoff▼FEATURES32 CANNABIS & INDUSTRIAL HEMPStates are scrambling to cultivate industrial hemp industries — now that they can. South Carolina is a case in point.38 HEALTH TECH & LIFE SCIENCESA new report reveals where the Century of Biology will be most evident.57 NORTH AMERICAN AUTOMOTIVEA North Carolina county in the heart of a truck manufacturing supply chain is making inroads as a center of clean-fuel systems development and production.129 DIRECTORY OF ECONOMIC DEVELOPMENT AGENCIES153 TOP DEALSWhere the big capital-investment spenders found the right combination of location attributes for their mega-job-generating projects in 2018.2 MAY 2019 SI T E S E L E C T IO N86 AN INTERVIEW WITH VENEZUELAN PRESIDENT JUAN GUAIDÓ89 THE BEST TO INVEST TOP AGENCY AWARDSThe Top IPA awards recognize excellence at national and regional economic development agencies worldwide.124 THE PROSPERITY CUPSite Selection’s annual recognition of the most competitive state-level economic development agency.142 THE MAC AWARDSOur Top U.S. Economic Development Groups win a Mac Award for excellence in economic development, honoring the enduring legacy of Site Selection’s founding publisher, Mac Conway.▼FEATURES32 CANNABIS & INDUSTRIAL HEMPStates are scrambling to cultivate industrial hemp industries — now that they can. South Carolina is a case in point.38 HEALTH TECH & LIFE SCIENCESA new report reveals where the Century of Biology will be most evident.57 NORTH AMERICAN AUTOMOTIVEA North Carolina county in the heart of a truck manufacturing supply chain is making inroads as a center of clean-fuel systems development and production.129 DIRECTORY OF ECONOMIC FOLLOW US!s i t e s e l e c t i on . co m▼AREA SPOTLIGHTS164 FLORIDAA FinTech startup fi nds the right business climate in which to grow quickly, which stands to reason as Florida is ranked one of the best states for entrepreneurs.180 ARIZONATechnology innovators fi nd a warm welcome and room to spread out as another ‘sandbox’ comes online — this one in the property sector.193 OHIOThe effects of global trade skirmishes are keenly felt in this industrial powerhouse state.206 KENTUCKYA steel plant announcement contributes to the commonwealth’s plan to become a manufacturing center of excellence.212 NEW ENGLANDA regional roundup of who’s investing where and why, among other happenings.218 COLORADOWhy the Denver area was a shoo-in for a new headquarters campus.222 THE GREAT LAKESFormer auto plants in this region are just the right space for some capital investors today.224 UTAHA key railroad and the Beehive State share 150 years of history and infrastructure development.228 IOWAA talent scorecard illustrates one county’s increasing competitiveness.17 NANJING, CHINA26 TOKYO, JAPAN30 ISRAEL36 CONSUMERS ENERGY, MICHIGAN45 GREATER SEATTLE, WASHINGTON64 HUNGARY82 NORTH MACEDONIA100 BOGOTA, COLOMBIA162 MOROCCO186 SALT RIVER PROJECT, ARIZONA204 HOOSIER ENERGY210 MARYLAND216 HOBBY AREA DISTRICT, HOUSTON, TEXAS ▼DEPARTMENTS4 EDITOR'S VIEW: The Awards We Bestow — And One We Don’t255 INDEX TO ADVERTISERS6IAMC INSIDER:A letter from the Chair; coping with rising construction costs.Site Selection is the of cial publication of the Industrial Asset Management Council.Visit www.iamc.org ▼SPECIAL ADVERTISING SECTIONS119 LOUDOUN COUNTY, VIRGINIA245 SELECTUSA250 SHOVEL-READY SITES ▼INVESTMENT REPORT103 COSTA RICA▼INTERNATIONAL UPDATE14 WORLD REPORTSWhere remittances are up; awards for bringing the outside inside; and the countries that are best at attracting the most in-demand talent.22 ASIAHow a Thailand location checked all the right boxes for a fi ber manufacturing facility.24 MEXICOExperts on this key Latin American market are scratching their heads over cancellation of a major new airport already under construction, among other things.28 NORTH AMERICAN REPORTSGibson Guitar moves from Memphis to Nashville; the top cities for tech talent; manufacturing workers’ amenities wish list; and robot density is now a thing.UPSTATE SOUTH CAROLINA INTELLIGENCE REPORT 229UPSTATE SOUTH CAROLINA INTELLIGENCE REPORT ▼INVESTMENT PROFILES S I T E S E L E C T I O N MAY 2019 34 MAY 2019 SI T E S E L E C T IO NEDIT OR’S VIEWThe AwardsWe Bestow – And One We Don’tMEMBERSite Selection (ISSN: 1080-7799) (USPS ), May 2019, volume 64 number 3. Published six times a year in January, March, May, July, September and November by Conway, Inc., 6625 The Corners Parkway, Suite 200, Peachtree Corners, GA 30092 USA. Periodical postage paid at Peachtree Corners, Georgia, and additional mailing offices. Single issue: $20 plus shipping. Annual subscription: $95 in the United States; $135 to non U.S. addresses. PRINTED IN USA. POSTMASTER: Send address changes to Site Selection, 6625 The Corners Parkway, Suite 200, Peachtree Corners, GA 30092 USA.©2019 CONWAY, INC.BRAND REPORT CEO LAURA LYNE President & Publisher ADAM JONES-KELLEY Executive Vice President RONALD J. STARNER VP of Publications & Editor in Chief MARK AREND Managing Editor ADAM BRUNS Senior Editor GARY DAUGHTERS Managing Editor of Custom Content SAVANNAH KING Art Director SCOTT LARSEN Production Coordinator/Designer BOB GRAVLEE Lead Designers SEAN SCANTLAND RICHARD NENOFF NEGIN MOMTAZ Graphic Designer WHITNEY ONI Editorial Database Manager KAREN MEDERNACH Research Associates BRIAN ESPINOZA McKENZIE WRIGHTG L O B A L SA L E S & M ARK E TIN G Vice President of Sales CHARLES FITZGIBBON Vice Pres., Global Innovation GUILLERMO MAZIER Vice Pres. of Corporate Development PAUL TARRANTS Regional Director — Northeast US MIKE GLENNON Regional Director — Midwest US CATHY McFARLAND Regional Director — Southeast US HARRY NEILL Regional Director — Western US PAUL NEWMAN Regional Director — US MARGARET ROSE Regional Director KRISTIN PICKETT Global Director POLLYANNA TOWNSEND-ROSE Central America BOBBY PEREIRA, +507 6673 1160 Regional Director — Latin America PILAR CERÓN, +507 6980 1533 China DRAGO NAPOTNIK, +86 151 2117 2762 Germany OLIVER OBERMANN, +49 (0) 341 90 97 90 00 Western Europe ANDREW CLUTZ, +1 781 894 7486 Japan HIROKO MINATO, +81 50 8882 3456 Korea CHUL LEE, +82 2 466 5595 Malaysia Y.T. SIA, +603 56110101; +6011 10108909 Thailand JANYA LIMMANEE +66 81 647 0121 Client Services Manager BRIAN WATSON Marketing Manager STEPHANY GASPARD Marketing Assistant CATHIE WENDT Lead Photographer CARMYN SUZORB U S IN E S S D E PAR TM E N T Chief Financial Officer DEBBIE PORTERCI RCU L ATIO N Circulation Manager JULIE CLARKE DIG ITA L TECH N O L O GY TE AM Webmaster BEN YAWN Director of Programming & Analytics DANIEL BOYER Senior Programmer RENATO BYRRO IT Coordinator MARK BERTRAMThe publishers believe that the information contained in this publication is accurate. However, the in formation is not war ranted, and neither Conway, Inc., nor the Industrial Asset Management Council, assumes any liability or responsibility for actual, consequential or incidental damages re sulting from inaccurate or erroneous information. Site Selection incorporates Industrial Development.PHONE: (770) 446-6996 FAX: (770) 263-8825 TOLL FREE: (800) 554-5686EMAIL: editor@conway.com WEB: www.siteselection.come don’t bestow awards for courage in our annual Best to Invest suite of location honors each May. So we couldn’t honor Venezuela’s Juan Guiadó with one. These days, who could be more deserving? It’s just as well, because we have in this issue a Q&A with the troubled country’s opposition leader and president, as recognized by dozens of countries, himself. Conway President Adam Jones-Kelley spent time with Guiadó during a recent trip to the region, resulting in some candid and optimistic insights from this brave leader working to replace chaos with prosperity in his homeland. We do bestow the Prosperity Cup each May, which recognizes the most competitive state-level economic development office. All such offices in the running had to demonstrate their readiness to win a project like Amazon’s HQ2 in 2018. Just two states had what that contest required … or one, it turns out. Virginia Economic Development Partnership President and CEO Stephen Moret told me that even without HQ2, or the $3 billion Micron Technology expansion, Virginia in 2018 would still have outpaced recent years’ capital investment totals. Key to the HQ2 win was the state’s commitment to high-tech higher education programs and cooperation at every level on the part of Virginians — from state and local authorities to the man on the street. The education investment included $250 million for Virginia Tech’s $1 billion Innovation Campus at National Landing, among others.The centerpiece of this issue is our Best to Invest cover story, identifying the best countries for establishing new operations or expanding existing ones in 10 global regions. A number of them have their investment promotion agencies to thank in large part for this recognition — see page 85. These and many others on a national and regional basis are this year’s Top IPAs as determined by a panel of location experts.Prosperity is a local quality, too, not just a statewide or national characteristic. That’s where the Mac Awards come in. These honor local and regional economic development offices that are on the front lines of location decisions large and small. And they all matter, any one of the leaders of these offices will tell you. They have to make a good impression the first time every time a prospect shows up, facilitate getting operational and not drop the ball on the retention side years after the site was chosen.HQ2 was just one of the Top Deals in North America (and one of three from Amazon alone that will combine to create 33,000 new jobs) recognized in this issue. International Top Deals also are honored. It’s here where you’ll find which locations are considered the best to invest for the projects frequently valued into the billions of dollars.Till next time,Mark Arend, Editor in ChiefW6 MAY 2019 SI T E S E L E C T IO Nwww.iamc.org2018-2019 IAMCBOARD OF DIRECTORSinsider May 2019ChairCharles WaltzBASF Corp.Vice ChairColleen CaravatiCorning Inc.TreasurerJennifer RothBimbo Bakeries USA, Inc.SecretaryScott CameronSonocoPast ChairMark EichkornPenskeJames Eckert Owens CorningDon HansenW. W. Grainger Inc.Deb Heffner, CEcDGreater Reading Economic PartnershipGregory Hitchin, CEcDCity of WaynesboroWilliam M. JenkinsThermo Fisher Scientific Inc.Linda LarsonAndersen Corp.Patricia J. Loveall, SIORKidder MathewsBill LuttrellWerner Enterprises Inc.Karen ShchukaPenske Truck Leasing Co., L.P.Ashley SnyderCresaExecutive DirectorJ. Tate Godfrey, CEcDEvery organization has its heroes. You know what I’m talking about — they always seem to get the credit and applause. Often, they deserve it. In many big companies, it’s the sales people. They’re pushed hard; they sweat bullets every quarter-end; they deserve a lot of credit. In IAMC, we play up and celebrate the Corporate Active members. And they are right at the heart of our business model. There’s no doubt about that.Every organization also has its overlooked multitudes. They’re every bit as vital as the vaunted ones, but the speeches and press releases don’t mention them.In this letter, I want to raise up to you a quiet group within IAMC without which we would not have achieved the success that we have — our sponsors. They pledge financial support for the Forums, Local events, International meetings and many other activities.You’ve seen them listed on Forum banners and their logos printed in brochures and on web pages. We give them special names, like Chairman’s Circle, Host Committee and Platinum Level, for example. We offer different investment levels depending on the sponsor organization’s marketing needs and budget. Sponsorships can cover Forum keynote speakers, educational programs, networking receptions, key cards, badge lanyards and much more. In 2018, IAMC had over 80 sponsoring organizations, which accounted for about 45 percent of our revenue. That’s big. Most members don’t know that.In return for their support, we prominently place their organization names and their representatives in front of IAMC audiences, which include current and many potential clients. They get high visibility by associating themselves with valuable IAMC education programs and high-profile networking events. They get to be seen and known to their client base as stalwart IAMC supporters. They are seen as supporting their clients’ careers and educational growth. Only members can sponsor, which gives them a level of exclusivity. And sponsors may host a dinner during IAMC forums.In the other direction, IAMC benefits financially from this relationship and the funding for CRE professional development, world class speakers and business networking. But we get much more as well. The sponsors include many large, global, highly prestigious companies that confer goodwill and reputation on IAMC by their support. Sponsors occasionally have taken on special products and programs and enabled the organization to accomplish them. An example is the DesignFlex2030 research project and whitepaper series. As highly invested members, the sponsors promote, support and represent IAMC to the other members and to many more who are not yet members.I’ve described the sponsors as IAMC investors, and they are also our partners in the broad sense of that word. They are highly engaged and involved partners, not the silent type. I suggest you log on to IAMC.org and look at the sponsor list there. Do business with them if you can. Join me in thanking them for their support. If you’re not already there, consider a sponsorship investment for your organization. Best regards,Charles WaltzChair, IAMC Board of DirectorsIAMC’s Quiet (But Not Silent) PartnersMark Your Calendar …Charles WaltzNext >