< Previous94 JULY 2025 SITE SELECTION A New Future For Higher Ed Through partnerships, schools can be the engine for research, innovation and workforce development. H igher education is a powerful engine for upward mobility to students and families, economic growth through skilled workforce development and transformative innovation through start-ups — all aimed at enhancing the nation’s competitiveness. The positive impact of higher education as a conduit between research, workforce development and economic development cannot be overstated. The 2025 federal policy changes in research funding remind us of dynamic opportunities to invest in the unifying power of the private sector with the innovative expertise of higher education institutions — a job particularly well- suited for academic corporate relations officers and university-based research parks. In describing the importance of corporate relations officers’ work, Linden Rhoads, former vice provost of tech transfer for the University of Washington, said: “The universities that figure out university-industry relations are the ones that will excel in the next 10 years.” by PRIYA BABOO, TIM HAUSMAN, & VICKIE PALMER editor@siteselection.com RESEARCH & SCIENCE PARKS Marshall University this year cemented an industry partnership agreement with Intuit. Photo by Austin O’Connor courtesy of Marshall University SITE SELECTION JULY 2025 95 Research and development expenditures data support this approach. Federal dollars as a percentage of research expenditures have been declining gradually over the last several years. The National Center for Science and Engineering Statistics reported that the business sector surpassed the federal government as the largest funder of total domestic R&D in the 1980s with a similar milestone nearing for basic research expenditures in 2022. While federal research dollars remain high, the reduction in share of research funding is indicative of U.S. economic growth and significant increases in research investment by the business sector. Among the most powerful and proven ways for campuses to advance this work is to strategically emphasize university- based research parks, technology hubs and innovation districts in tandem with robust university-industry partnerships. Research parks already have proved to be job-creating machines. Research parks created more new jobs (23%) compared to advanced industries (8%) between 2012-2017, according to an Association of University Research Parks study. In addition, the study identified that the survival rate of a research park startup is 75% compared with a 49% national average over the first five-year lifespan. University-based research parks have long proved to be effective in attracting corporate partners by spurring collaborative innovation, providing access to university resources and pooling talent among corporate, faculty and student researchers and innovators. Through these partnerships, universities are fostering student-faculty interaction and real-world learning, coupled with preparation for and development of career opportunities and pathways. Snapshots from the Field In spring 2025, Marshall University and Intuit announced a strategic partnership to enhance education and economic development in West Virginia, focusing on initiatives within the Marshall Innovation District. This collaboration — stemming from a longtime collaboration with past Intuit CEO and current Marshall President Brad Smith — will establish a Prosperity Hub to foster economic growth, attract investments and create jobs, positioning West Virginia as a leader in financial innovation. The Marshall Innovation District, a $200+ million initiative strategically located between downtown Huntington and Marshall University’s main campus, aims to drive economic development by uniting industry leaders and academic experts in an active environment for innovation. Intuit’s focus on financial innovation in its partnership with Marshall stems from a shared commitment to economic development and educational advancement in West Virginia. The collaboration aims to integrate financial education into the curriculum for both college and high school students, enhancing financial literacy and preparing a workforce that is adept in financial technologies. In Wichita, Kansas, the Air Capital of the World, Wichita State University (WSU) is home to the WSU Innovation Campus and to one of the nation’s premier aerospace engineering programs. WSU fosters energetic university-corporate partnerships rooted in its long-term strengths in aviation and aerospace. This was further enhanced by its recruitment of Airbus in 2017 to open the Wichita Engineering Center on WSU’s Innovation Campus. Airbus currently houses more than 300 employees in its 90,000-sq.-ft. building, providing Airbus with cutting- edge research and innovation capability and providing WSU students with “This partnership marks a powerful step forward in our shared values and mission to power prosperity for Marshall students, greater West Virginia communities, and for our Intuit customers,” said David Graham (pictured), senior vice president of Intuit Customer Success. Photo courtesy of Marshall University96 JULY 2025 SITE SELECTION unparalleled academic, mentoring and career opportunities. Montana State University’s Innovation Campus recently announced a partnership with Aurora, a leading technology company specializing in autonomous vehicle sensors. Aurora Lidar aims to establish a presence on the Innovation Campus, furthering its R&D efforts in LiDAR (Light Detection and Ranging) technology while collaborating with Montana State researchers and students. On another equally vital level, university-corporate partnerships propel regional and statewide economic and job growth. North Carolina’s Research Triangle Park, an ecosystem long known for robust university-corporate engagement, supports more than 143,000 jobs statewide on an annual basis and $25 billion in overall economic impact (as of 2024). On the other side of the country, University of Arizona (UA) Tech Park posts an annual economic impact of $2 billion while supporting more than 100 companies and 6,000 workers, making the UA Tech Park one of the largest employment centers in the state. The bottom line is that higher education institutions remain fundamental drivers for inventing “the new” economic growth and the betterment of humankind. For corporations considering new regions in which to expand operations and drive business growth over the long term, now is the time to consider partnering with universities and their research parks and innovation districts. It’s a proven model for success. Montana State University’s Innovation Campus in Bozeman recently announced a partnership with Aurora, a leading technology company specializing in autonomous vehicle sensors. Photo courtesy of Montana State University Priya Baboo and Tim Hausman are co-presidents of the Network of Academic Corporate Relations Officers; Vickie Palmer is CEO of the Association of University Research Parks. SITE SELECTION JULY 2025 97 INVESTMENT PROFILE: PENNSYLVANIA Designed for Industries Of the Future I f you build it, they will come. This sentiment rings true for economic developers as much as it does for farmers building fields of dreams. But what underlying factors are necessary to ensure long-term economic development success? It’s a question leaders in Pennsylvania, spearheaded by Governor Josh Shapiro and the Pennsylvania Department of Community and Economic Development (PA DCED), have been keen to address. An ideal position on the nation’s East Coast, renowned higher education institutions, a workforce of over 6.5 million, a diverse transportation network and the state’s favorable business climate have been key ingredients in attracting domestic and international operations. The state aims to enhance that recipe’s impact through the introduction of the Pennsylvania Strategic Investments to Enhance Sites Program (PA SITES). In line with the Shapiro Administration’s 10-year Economic Development Strategy, shovel-ready sites and streamlined permitting processes are at the forefront of new initiatives rolling out. Outside perspectives were vital to the cultivation of PA SITES, as leadership sought out feedback from national site selectors who delivered a clear message — Pennsylvania has a lot of sites to offer, but many of these sites don’t qualify for shovel-ready status. “Companies move fast, and they need locations where they can break ground almost immediately with little hesitation. What we were missing were large sites that were truly ready to go — with all the early leg work on infrastructure, zoning and utilities done,” says PA DCED Chief Commercial Officer Aaron Pitts. “That’s what the PA SITES program is designed to fix, closing that readiness gap so we can compete and win more big projects.” by ALEXIS ELMORE alexis.elmore@siteselection.com The Bellwether District will become Philadelphia’s hub for logistics, trade and technological innovation. Rendering courtesy of HRP Group98 JULY 2025 SITE SELECTION In May 2025, Governor Josh Shapiro launched the first round of the Pennsylvania Strategic Investments to Enhance Sites program. Photo courtesy of Pennsylvania Office of the Governor New Beginnings Within Governor Shapiro’s 2024-2025 bipartisan budget it was announced that $500 million had been secured for site development and $400 million toward PA SITES specifically. In May 2025, the inaugural round of recipients was unveiled, awarding over $64 million to 11 counties — Bedford, Berks, Bucks, Cumberland, Dauphin, Fayette, Franklin, Luzerne, Philadelphia, Washington and Westmoreland — out of 66 applicants. Pitts say the first round of recipients stood out because they checked a few important boxes, including the level of support each project needed, how attractive the site would be once fully developed, local and regional support toward the project and whether it lined up with industries of focus within the state’s 10-year Economic Development Strategy. “So, in the end,” he says, “it was about backing projects that not only had strong potential but also fit into the bigger economic picture for Pennsylvania.” The Philadelphia Navy Yard received the round’s largest funding award at $30 million. Ensemble/ Mosaic Navy Yard LLC is the joint venture behind the current 20-year Navy Yard Plan looking to drive equitable growth at what was the U.S. Navy’s very first shipyard. The new funding will go toward utility infrastructure, soil excavation, grading and stormwater management. This groundwork will aid in the introduction of six lots spanning up to 700,000 sq. ft. of advanced manufacturing and commercial space on the 109-acre site. “This vital support from the Commonwealth builds on the Navy Yard’s existing momentum and continues to strengthen a campus already driving economic growth, attracting private investment and creating high-quality jobs,” said Ensemble Investments Managing Director Mark Seltzer. “This investment accelerates our shared vision to create pad ready sites to continue to attract top-tier businesses and position Philadelphia as a national hub for advanced industries.” The initiative is a perfect example of a viable project checking all the boxes for the PA SITES program. For more than 25 years, efforts have been in motion to reimagine the 1,200-acre Navy Yard, which has now transformed into a mixed- use development fit for residential, industrial, retail, R&D, institutional and office activity. Over 150 companies have stationed themselves here, encompassing industries such as life sciences, defense, real estate development, technology, logistics, energy and more. At full buildout the Philadelphia Navy Yard will offer an additional 8.9 million sq. ft. of commercial and residential space. “The new funding is a clear sign that the state sees the Navy Yard as a major economic driver for Pennsylvania — especially as a hub for life sciences and advanced manufacturing,” says Pitts. “Not only is it employing more than 15,000 people across the businesses located there, but these companies are also developing the cutting-edge technologies that are moving the country forward and cementing Pennsylvania’s place as a leader in innovation.” Additional PA SITES recipients include Westmoreland County’s New Kensington Advanced Manufacturing Park, which gained $6.9 million for the rehabilitation of two facilities associated with the former Alcoa aluminum manufacturing site. Once complete, the project will bring up to 130,000-sq.-ft. of ready-made facility space at the 70-acre campus in the Greater Pittsburgh area. Meanwhile, nearly 150 miles east in Cumberland County, Real Estate Collaborative Frog Switch received a combined $10.2 million construction grant and construction loan toward the redevelopment of the former Frog Switch & Manufacturing Company location. Work will include environmental assessment and remediation, building demolitions and site improvements. The first round of the PA SITES program has delivered a new wave of excitement in the realm of site development, but by no means has the Commonwealth strayed from exploring an SITE SELECTION JULY 2025 99 existing site’s new potential. Take redevelopment projects such as Mill , a once bustling location for Pittsburgh’s Jones & Laughlin Steel Company. e vacant ,-sq.-ft. building was stripped down to its robust steel framing and rebuilt. It is now a landing pad for advanced manufacturing, innovation, robotics and technology companies. On a greater scale, the anticipated arrival of the ,-acre Bellwether District in south Philadelphia will breathe new life into the former Philadelphia Energy Solutions refi nery to craft a hub for e-commerce, life sciences and logistics innovation. Sustainability is the foundation of the site’s evolution as developers decommissioned and dismantled the refi nery to welcome a - acre Industrial Campus and a -acre Innovation Campus. e Industrial Campus will house . million sq. ft. of developable space when complete. In July , the site will welcome its second building which brings million sq. ft. of availability. e fi rst three buildings stationed at the Innovation Campus will head into construction this year, establishing the initial , sq. ft. of the planned .-million-sq.-ft. developable space. e campus is designed to serve as a one-stop-shop for life sciences manufacturing and R&D operations, supported by the region’s industry ecosystem. Once complete, the Bellwether District will become a generational economic engine, providing businesses tax incentives through its Keystone Opportunity Zone and its potential eligibility to become a designated Foreign Trade Zone. e project is expected to result in the creation of , direct jobs. “It’s turning a former refi nery site into something that could change the game for how we think about urban redevelopment in Pennsylvania — and will serve as a hub of long-term growth for the industrial and innovative companies that locate there,” says Pitts. “It’s bold, and we’re excited to have it here.” e speed at which large-scale initiatives like the Bellwether District come to fruition is now supported by the new Pennsylvania Permit Fast Track Program through the state’s Offi ce of Transformation & Opportunity. e program was designed to streamline and simplify understanding of the state’s permitting process, increase transparency across state agencies and deliver projects faster, while utilizing interagency collaboration to guide developers. e move is bolstered by a fi rst-of-its-kind money-back guarantee system to hold state agencies accountable throughout a company’s permitting, licensing and certifi cation process. Building a Lasting Legacy Advanced manufacturing is a skill Pennsylvanians have mastered. A look into fresh facility investments shows a range of life sciences, energy, transportation, electronics and food and beverage manufacturing operations set in motion. All roads led to Central Pennsylvania for bone broth manufacturer Kettle & Fire as the company made the leap to own and operate its own manufacturing facility for the fi rst time. e strategic decision to locate in Lancaster County began with identifying a prime greenfi eld site for a ,-sq.-ft. production plant. “In thinking about site selection, we looked for space where we could build out the facility exactly how we envisioned,” says Kettle & Fire CEO Brian Hack. “ is included ground-up design in a place that off ered supply chain effi ciencies, where manufacturing is thriving, and in a community that consists of a highly qualifi ed labor pool.” As the company’s products fi nd market favor, growth was required to meet increasing demand. Legacy food brands including Hershey’s, Utz, Snyder’s and Herr’s are just a few manufacturers that planted roots in the Commonwealth before It’s turning a former refi nery site into something that could change the game for how we think about urban redevelopment in Pennsylvania.” — PA DCED Chief Commercial Offi cer Aaron Pitts on the 1,300-acre Bellwether District in south Philadelphia100 JULY 2025 SITE SELECTION This Investment Profile was produced under the auspices of the Pennsylvania Department of Community and Economic Development (DCED). For more information, visit dced.pa.gov. Kettle & Fire, a category leader in bone broth products, received a $4 million Pennsylvania Industrial Development Authority loan and a $40,000 WEDnetPA training grant to support its project. Photos courtesy of Pennsylvania Office of the Governor and Kettle & Fire blossoming into global brands whose homegrown operations still thrive today. Kettle & Fire aims to explore that same growth path. “I can say that when onsite at KettleWorks — both before and since its opening — I’ve been struck by the pride and commitment demonstrated by the community,” says Hack. “We’re inspired by it and excited to be part of it. By creating jobs and investment in local operations and finding meaningful ways to give back, our goal is to grow with the community, not just in it.” The success that food and beverage manufacturers have found in Pennsylvania translates across all target industries, resulting in $5.2 billion in private sector investment and over 9,500 new jobs alone in the past two years. This strategic growth led Amazon Web Services in June to commit $20 billion to expand Pennsylvania’s data center infrastructure to support AI and cloud computing technologies. The lesson to be drawn from the high level of activity? Build the right business climate and the investments will come. They will most definitely come. SITE SELECTION JULY 2025 101 STARTUP & INNOVATION HUBS WEST COAST INNOVATION DOMINANCE: Will It Remain? he st century has yet to reach its prime, although technological advancements achieved during this fi rst quarter- century abruptly accelerated the speed of work. Our day-to-day routines have been engulfed by the convenience of new technology. In a little over a decade, we’ve unlocked the potential to have a week’s worth of groceries delivered with a few taps; receive lifesaving medicine at home without setting foot in a doctor’s offi ce or pharmacy; arrive at a desired destination without having touched the vehicle’s steering wheel, gas pedal, or driver’s seat; and revolutionized organ transplants with -D bioprinting, just to name a few. Silicon Valley remains the top U.S. hub for entrepreneurship, although New York continues to see steady gains. 2022 photo of Apple Park in Cupertino by P_Wei: Getty Images by ALEXIS ELMORE alexis.elmore@siteselection.com102 JULY 2025 SITE SELECTION Resistance to technology, automation and artificial intelligence is a losing game in an increasingly digital age. For global startup ecosystems climbing the ranks, adaptation has been key to garnering the resources needed to scale and expertise required to support the next generation of entrepreneurs. Around the globe, innovation is at the forefront of nearly every new decision guiding companies and talent toward their next big venture. But can we always know the best location to find the support and resources required to advance? Turns out we can. Site Selection has dabbled in a bit of innovative thinking as well, pursuing a consolidated index of the world’s top metropolitan areas for startups and entrepreneurs. We’ve combined findings from fresh Global Startup Ecosystem reports administered by Startup Genome and Startup Blink, in addition to new VC Ecosystem Rankings from Pitchbook, in order to present this year’s best locations. A look at the global Top 10 provides insight into where innovation and entrepreneurship have found their rhythm: A general consensus among each ranking is that the world’s top two startup ecosystems are currently found in the San Francisco-Oakland- Fremont, California, metro, and the New York- Newark-Jersey City metro encompassing New York and New Jersey. The United Kingdom’s London metro came in neck-in-neck with Los Angeles-Long Beach-Anaheim, California for third place, representing the only international market to shake up U.S. dominance as the Boston-Cambridge-Newton metro rounded out the top five. California’s crown jewel, Silicon Valley, has been a global hotspot for entrepreneurship and startup growth for generations. How magnetic is it? Data show that 66% of technology workers found in the region are foreign born, led by countries like India and China, according to the 2025 Silicon Valley Index released by think tank Joint Venture Silicon Valley. Startup Genome gave 10s across the board to the No. 1 ecosystem for performance, funding, talent, market reach and AI-native transition, which are factors that continue to contribute to Silicon Valley’s robust international pull. New York received top points from the organization in every area but AI-native transition, although Startup Blink’s report noted that New York City remains the nation’s fastest growing startup ecosystem, closely followed by the Austin-Round Rock metro area (No. 18). China cemented its place within Site Selection’s Top 10 Metros rankings thanks to activity coming out of Shanghai (No. 6) and Beijing (No. 7), which were additionally named as the top two startup ecosystems in the Asia Pacific by Startup Blink’s 2025 Startup Ecosystem Report. Shanghai in particular experienced a 38.4% ecosystem growth increase in 2024, surpassing Beijing’s 25% reported growth. This year, Singapore, Paris and Seoul enter and close out our top global metros rankings. Other notable findings within Startup Blink’s report include: • The U.S. remains the top global startup ecosystem, with a score nearly four times greater than the UK in 2nd place. While this gap has narrowed since 2020, it has stabilized over the past three years. Still, the U.S. shows signs of slowing down, with the lowest growth rate among the top 50 ecosystems at just 18.2%, compared to 26.3% for the UK and 20.6% for Israel. • Austin–Round Rock Area is also the only ecosystem in the U.S. top 10 to rise globally this year, now ranked No. 16. • Since 2020, Singapore has climbed 12 places, making it one of the fastest-growing startup ecosystems worldwide. • Paris’ high growth rate at more than 34% not only helps the city to surpass Tel Aviv, but is the highest growth among Europe’s top five cities. • Seoul has one of the highest growth rates among the top 20 globally with over 30%. Pitchbook’s VC Ecosystem Rankings show that 1 Bay Area/Silicon Valley 2 New York Metro 3 Los Angeles Metro 3 London Metro 5 Boston Metro 6 Shanghai Metro 7 Beijing Metro 8 Singapore 9 Paris Metro 10 Seoul MetroNext >