< Previous8 MAY 2025 SITE SELECTION Describe the top three opportunities and top three concerns among corporate leaders when it comes to AI. Zack Kass: Opportunities: 1) Productivity Improvements at Scale: AI is transforming knowledge work by automating the mundane so people can focus on higher-value tasks. We’re already seeing 30–70% time savings across functions and industries, and this trend will only accelerate in the coming months. 2) New Business Models: These technological breakthroughs are yielding more than efficiency, but also invention. AI is enabling dynamic pricing, personalized interfaces and entirely new digital products. It’s not just streamlining how we work; it’s changing the dynamic of what’s possible for operations and offerings. 3) Talent Leverage: AI enhances top performers, giving every employee a digital co-pilot, extending their reach, speed and insight. That’s a huge opportunity for companies that are able to act fast and incorporate the technology into their best practices, particularly for smaller, leaner teams. Concerns: 1) Talent Adaptation: Leaders are realizing that integrating AI isn’t just a tech challenge, rather a human one. Retraining teams, evolving job roles and building digital fluency is hard, especially at scale. 2) Organizational Agility: Large enterprises often struggle to adapt quickly. AI rewards speed and experimentation, but legacy structures and rigid processes can slow down adoption. 3) Workforce Readiness: Many employees feel unprepared. Not because they’re incapable, but because they haven’t been given the context, tools or permission to work differently. That creates friction and slows momentum. In which industries have you seen the most dramatic results of applied AI practices to everyday business? Zack Kass: We’ve seen some of the most profound gains in: • Biotech & Life Sciences: AI is accelerating drug discovery, protein folding and clinical trial analysis consequently compressing timelines that used to take years into months or weeks. • Education: Personalized learning platforms are becoming truly adaptive, offering students real-time feedback, tutoring and support — especially in underserved communities. Imagine the power of providing every single child access to a private tutor, on demand. • Financial Services: From fraud detection to portfolio optimization, AI is enhancing precision and efficiency. Firms are also using large language models for compliance, reporting and customer service. • Professional Services: Law, accounting and consulting firms are using AI to generate first drafts, analyze documents and prep client materials, dramatically reducing time-to-delivery. When it comes to the profession and practice of corporate real estate/facilities — i.e., managing and making location decisions for a global company’s range of operations across many countries and jurisdictions — where do you see the most immediate opportunities for AI deployment? Zack Kass: AI has real momentum here. A few high-impact areas: • Site Selection Optimization: AI can now analyze vast data sets — labor availability, infrastructure, tax policy, logistics, geopolitical risk — and synthesize optimal location strategies in hours instead of months. • Energy & Facilities Management: AI systems are reducing energy costs and emissions by dynamically adjusting HVAC, lighting and space utilization based on real-time data. • Portfolio Risk Modeling: For global companies with complex footprints, AI can help evaluate exposure to climate change, regulatory shifts or lease volatility by driving smarter decisions about asset allocation and long-term planning. Among the highlights of the recently held IAMC Forum in Sacramento, California, was a keynote address by Zack Kass, a futurist and AI expert who formerly headed go-to-market strategy for OpenAI. I followed up with him by email after the event so some of the insights he shared on stage could be shared on the page. — Adam Bruns AI Could Redefine the Future of Industrial Asset Management Zack Kass10 MAY 2025 SITE SELECTION What particularly compelling questions or issues came up at the IAMC Forum session in Sacramento? Zack Kass: I saw how corporate real estate leaders are embracing AI not just to cut costs, but to make smarter, faster and more strategic decisions across their portfolios. It’s clear this community sees AI as a catalyst for redefining the future of industrial asset management. It’s also clear they’re all teeming with excitement about the massive demand spike we’re going to see across energy production sites and data centers. I am a journalist and editor in chief of a 71-year-old business publication who aims differentiate our material based on enterprise journalism and original interviewing of humans. As AI becomes more prevalent, do you see our approach increasing our value for those wanting their fellow humans’ unmediated, true-to-life perspectives? Zack Kass: In a world where AI can generate infinite content, human- sourced reporting becomes a differentiator. What you choose to do intentionally — including original interviews, contextual storytelling and informed skepticism — will be the antidote to synthetic noise. Readers will increasingly seek out perspectives grounded in real conversations, especially as AI reshapes every industry. Moreover, in a world where anyone can be an expert in anything, brand becomes a critical currency. Did you employ AI in responding to any of these questions? Zack Kass: Yes, and intentionally so. We use AI as a brainstorming partner and first-draft generator. It helps surface angles, frame ideas, and create a starting point. But the thoughts, stories and edits come from me and my team. AI speeds up the how so we can focus more deeply on the what and why. T he IAMC Spring Forum saw a number of awards conferred. James Chavez (lower right, above), president and CEO of South Carolina Power Team, received IAMC’s 2025 Michael P. Hickey Service Provider of the Year Award. Dave Quinn (lower left), CEcD, Fairview Texas Economic Development director and leader of TexasEDConnection, was the recipient of IAMC’s 2025 Mary Jo Hanover Economic Developer of the Year Award. Award winners: • are stalwart ambassadors for IAMC • uphold the highest standards of ethics and integrity in their profession • strongly believe in giving back to their industry • work to make this world a better place • are mentors within the profession. The Forum also featured the graduation of IAMC’s newest cohort of IAMC Fellows after completion of five leadership development seminars and taking on leadership roles in IAMC activities. The 2025 graduates are (l. to r. in the top photo): • Elizabeth Loving, Mohr Capital • Marcus Rose, NFI Industries • Casey Evans, Orlando Economic Partnership • Joseph Sayre, Avangrid - RG&E/NYSEG • Heather Smith, Wisconsin Economic Development Corporation • Ryan Niesen, San Bernardino County • Richard Blackwell, Agracel • Chris Rankin, Lubbock Economic Development Alliance • Michael Piscoran, United States Department of State (not pictured) • Ann Marie Collins, Savills (not pictured). AWARDS SEASON12 MAY 2025 SITE SELECTION NORTH AMERICAN REPORTS Fiserv Finds Kansas Fit for Fintech W isconsin-based fi nancial services company Fiserv plans to create 2,000 new jobs in Overland Park, Kansas, before the end of the year. In April 2025, Fiserv announced a $175 million investment to renovate two buildings, totaling 427,000 sq. ft., within the city’s Aspiria business campus. The project aims to establish a strategic fi ntech hub that provides space for collaboration in the Midwest region. “We are thrilled to expand our U.S. footprint, bringing our people together to drive innovation on behalf of our clients,” said Fiserv Chairman and CEO Frank Bisignano. “The Greater Kansas City metro area off ers a dynamic environment with a growing population of tech talent, making it the ideal location for Fiserv’s next strategic fi ntech hub.” The company noted this hub will enable Fiserv to serve its customers more effi ciently and adapt faster to market needs, resulting in an estimated $6.5 billion economic impact in the region. Billion-Dollar Preparations G E Aerospace’s $1 billion commitment toward its U.S. manufacturing and supply chain operations led the company to announce a $101 million investment is headed to its North Carolina sites. A funding breakdown includes $52 million in Wilmington for equipment upgrades and expanding production capacity; $20 million toward various equipment needs in Asheville; $16 million for additional equipment for commercial engine assembly in Durham; and $13 million in West Jeff erson for an engine parts facility expansion. These projects will enable GE to increase manufacturing capabilities, install new advanced technology and support future industry needs. “We are committed to helping our customers modernize and expand their fl eets while scaling technologies that will truly defi ne the future of fl ight,” said GE Aerospace Chairman and CEO H. Lawrence Culp, Jr. in the offi cial press release. “Together, this will keep the United States at the forefront of aerospace leadership.” GE Aerospace’s $1 billion commitment to U.S. manufacturing includes over $100 million across its North Carolina operations. Photo courtesy of GE Aerospace by ALEXIS ELMORE alexis.elmore@siteselection.com WalletHub’s Top 10 Most Innovative States 2025 1. District of Columbia* 2. Massachusetts 3. California 4. Colorado 5. Washington 6. Maryland 7. Virginia 8. Delaware 9. Utah 10. New Jersey Fiserv’s Kansas hub on the Aspiria campus (pictured) will join the company’s portfolio of innovation campuses in Georgia, Wisconsin, Nebraska, New Jersey and New York. Photo courtesy of Heartland Drone Co. *Not a state SITE SELECTION MAY 2025 13 New JV Captured T op global ammonia producer CF Industries has partnered with Japan-based energy company JERA Co. and global investment company Mitsui & Co. to pursue a new $4 billion Low-Carbon Ammonia Production facility in Louisiana. The joint venture will construct the new plant at CF Industries’ Blue Point Complex in Ascension Parish, carrying a nameplate capacity of 1.4 million metric tons of low-carbon ammonia per year. “Our joint venture represents tangible progress towards building a reliable and aff ordable low-carbon ammonia value chain to meet what we expect to be robust global demand for low-carbon ammonia for both traditional and new applications,” said CF Industries President and CEO Tony Will. Carbon removal and sequestration company 1PointFive will be responsible for the transportation of about 2.3 million metric tons of CO2 per year. Construction at the site will begin in 2026, with the facility expected to become operational in 2029. Solid Portfolio Growth Heads Stateside S witzerland-based pharmaceutical manufacturer Novartis has shared details of a new $23 billion investment across the company’s U.S. operations. As the company aims to boost domestic production of its active pharmaceutical ingredients and biologics drug substance medicines, Novartis will expand 10 current facilities, introduce seven new facilities and create 1,000 new jobs. Work over the next fi ve years will enable Novartis to house a full supply chain in the U.S. in addition to bringing key technology platforms to these facilities. The investment will include expansions in Indianapolis, Indiana; Millburn, New Jersey; Carlsbad, California, and other locations. Novartis also will establish a new $1.1 billion biomedical research innovation hub in San Diego, California, construct four new manufacturing sites (in locations yet to be disclosed) and introduce two radioligand therapy manufacturing facilities in Florida and Texas. Supporting Plan Mexico I n line with sustainable national development goals outlined by Mexico President Claudia Sheinbaum’s “Plan Mexico” initiative, a fresh $3.7 billion investment has been announced in the state of Durango. Holding company Fermaca Dreams will introduce two projects: Fermaca Digital City, a 250-megawatt data center that will power itself with natural gas, and an accompanying green fertilizer plant called Fermachem, which will be constructed in nearby Lerdo. Fermaca Digital City will feature a 99-mile gas pipeline from Texas that will connect to Durango to increase gas availability; a combined-cycle power plant powered by natural gas; and a 1,242-mile fi ber-optic line to from the northern border to Querétaro with branches in Durango and Guadalajara. Meanwhile, the fertilizer plant is expected to produce 600,000 tons of urea per year. Combined, both projects will create 350 permanent jobs. CF Industries will own 40% of the JV, while JERA holds 35% ownership and Mitsui has 25% ownership of the new production facility. Photo courtesy of Ascension Economic Development Corporation In northwest Mexico, Fermaca Dreams aims to support local agriculture and digital infrastructure assets. Photo: Getty Images Novartis is going all in on the U.S. market with expansions and fresh facility investments. Photo courtesy of Novartis14 MAY 2025 SITE SELECTION INDIA’S MOBILITY SECTOR: Why the Time is Now For Global Manufacturers I ndia’s mobility sector is at a pivotal moment. For decades, global automotive manufacturers have been drawn to the country for its large domestic market, cost-competitive skilled labor and supportive industrial policies. Now, with the rapid adoption of electric vehicles (EVs), robust government incentives and a growing role in global supply chains, India is fast becoming a strategic hub for the future of mobility. India’s modern mobility journey began with the sector’s de-licensing in 1991, opening the doors to private and foreign investment. Over the years, successive governments have introduced initiatives to strengthen the sector, including the ‘Make in India’ campaign and the flagship Production Linked Incentive (PLI) schemes. Between FY2020 and FY2024, the mobility sector attracted over US$36 billion in foreign direct investment (FDI), underscoring growing global confidence. The PLI scheme for the auto and the auto components sector, backed by a $3 billion government outlay, is encouraging domestic manufacturing of Advanced Automotive Technology (AAT) products, particularly those related to electrification, safety and smart mobility India’s automotive market continues to expand. In FY2023–24, over 20 million vehicles were registered for domestic use. In the same period, exports reached 4.5 million units, making India one of the top vehicle exporters in the world. This shift reflects a broader maturation of the industry: Global OEMs such as Suzuki, Hyundai, Tata Motors, Kia and Toyota have not only deepened their footprint in India but have also made the country a key part of their global value chains. Nine leading PV makers (Maruti Suzuki, Hyundai Motor, Tata Motors, Mahindra & Mahindra, Kia Motors, Toyota Kirloskar, Honda Cars India, Skoda Auto Volkswagen and MG Motors) account for 97% of the domestic India sales and are creating additional capacity of 3 million cars per annum (an increase of 52% capacity). Hero MotoCorp is investing heavily in electric 3-wheeler startups like Euler Motors. Honda plans to set up a dedicated electric 2-wheeler manufacturing facility in India by 2028. And several component manufacturers (BMW, Craftsman Automation Ltd., Seinumero Nirman, Usui Susira International, etc.) are planning new plants in India. For new entrants, India offers a dual opportunity: access to one of the world’s largest consumer bases and a growing export platform with established trade linkages across Africa, Latin America and Southeast Asia. Auto Components: Powering the Next Phase of Growth The automotive components sector accounts for nearly one-third of India’s mobility industry revenue. With a valuation of $75 billion in 2023, it is targeting $100 billion in exports by 2030. The sector covers a wide array of products — by DISHA SINGH & SARAH GORECKI, TRACTUS editor@siteselection.com ASIA Scan this code to access the expanded online edition of this story with additional analysis and infographics. Vietnam-based VinFast intends to eventually invest up to $2 billion in an integrated EV production hub in Thoothukudi, Tamil Nadu, that launched construction in early 2024 and is projected to generate up to 3,500 job opportunities. Rendering and photo courtesy of VinFast16 MAY 2025 SITE SELECTION ranging from traditional parts like engine and drivetrain systems to EV-focused components such as battery packs and electric motors. India is actively working to localize the production of AAT components to reduce import dependence. The PLI scheme encourages 50% domestic value addition in targeted components, including automatic transmissions, hydrogen fuel cells and advanced braking systems. This localization push is especially timely as OEMs seek more resilient supply chains. India’s emergence as a hub for automotive components offers significant cost savings and risk diversification for manufacturers serving multiple global markets. India’s electric mobility push is accelerating. As of August 2024, more than 4.4 million EVs had been registered nationwide, driven largely by the 2- and 3-wheeler segments. The government has introduced several supportive policies: • FAME II Scheme: Offers subsidies for EV purchases and charging infrastructure. • Advanced Chemistry Cell (ACC) PLI Scheme: Supports domestic battery cell manufacturing. • Electric Mobility Promotion Scheme (EMPS): Aims to scale local EV adoption and production post-FAME II. These initiatives are reshaping investment flows. Major domestic and international players are establishing battery gigafactories, EV production lines and component manufacturing units. India’s EV ecosystem is still in early development, which presents a first- mover advantage for foreign firms with proprietary technologies in areas such as battery management systems, charging hardware and power electronics. Where to Invest? India’s mobility sector is geographically diverse, with several industrial clusters catering to different segments: • Northern Cluster (Delhi-NCR, Haryana, Rajasthan): A legacy hub for passenger vehicles and commercial vehicles. Offers proximity to regulatory centers and a mature supplier network. • Western Cluster (Maharashtra, Gujarat): Home to Tata Motors, Mahindra and Volkswagen. Strong port access and industrial infrastructure make it ideal for exports. • Southern Cluster (Tamil Nadu, Karnataka): A center for EV innovation and 2-wheeler production. Also hosts R&D hubs and academic institutions. 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