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FROM SITE SELECTION MAGAZINE, JANUARY 2022 ISSUE
From the September Issue

ASIA

In India, Hybrid is the New Back to Work

How the world’s offshoring hub responded to the COVID-19 pandemic.

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From the September Issue

INVESTMENT PROFILE: PUERTO RICO

The Stage is Set

Puerto Rico beckons to the film & TV production industry.

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 DIGITAL EDITION 

Can’t wait for us to upload the web versions of all the articles in our 208-page January issue? Then jump into the Digital Edition, a screen-based facsimile of our January 2022 print edition complete with messages from supporting advertisers. Catch up on the State of the States, Top Tech Hubs, Mid-Sized Markets, Film & Entertainment, the Site Selectors Survey and much more, including international coverage of Australia, Western Europe and Western Canada. And don’t miss Investment Profiles about 10 different regions of the world. It’s 208 pages of business intelligence you’ll find nowhere else, designed to inform how you approach your own company’s site portfolio and location decision-making.

 

 CONWAY ANALYTICS SNAPSHOT 
Sioux City, Iowa, is a tertiary market that turns in prime-time results in Site Selection’s annual Top Metros rankings.
Photo by Britton Hacke courtesy of Siouxland Chamber of Commerce

NAIOP says its new research brief, “How the Other Half Builds: Small-Scale Development in Tertiary Markets,” reveals the reasons that tertiary markets (those with fewer than 2 million people) favor local developers and why smaller industrial markets are attracting more interest from institutional investors. The brief draws from an August 2021 survey of 193 NAIOP members across the U.S. and Canada, and interviews with developers who are active in tertiary markets. Just over half of the U.S. population (51.3%) resides in MSAs that are home to fewer than 2 million people or in areas that are not included in an MSA. Among the brief’s findings:

  • Large national tenants have expanded their industrial footprints in many smaller markets, alongside the broader expansion of e-commerce distribution led by Amazon, whose fulfillment center network has brought large distribution centers, and Amazon’s preferred development teams, to several smaller markets.
  • Cap rate compression in the largest markets appears to be leading some large investors to look further afield for industrial properties in higher yielding markets.
  • Industrial real estate investment trusts (REITs) and investors that have traditionally focused on office properties have become increasingly active in smaller industrial markets.
  • Respondents noted two significant advantages to developing smaller buildings in tertiary markets: shorter development approvals timelines as well as shorter acquisition, site preparation and construction schedules.

Site Selection’s annual Top Metros and Top Micropolitans rankings feature communities with a much smaller population threshold that nonetheless hold their own when it comes to corporate project attraction. Watch for the next Top Metros and Top Micros in the March 2022 issue.

 

WORKFORCE 2022

SKILLED TRADES

Trading Up

How one HVAC firm in Virginia remastered training for skilled trades.

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From the September Issue

RETENTION

Employee Retention Insights from Work Institute

Work Institute President Danny Nelms offers a unique perspective on the so-called “Great Resignation” and core drivers of talent retention by exploring the findings from his organization’s annual Retention Report.

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 EVENTS 

 

 PROJECT WATCH 

Germany

Pittsburgh-based PPG announced this week that it will invest more than $10 million to expand production of automotive original equipment manufacturer (OEM) coatings at its site in Weingarten, Germany, by 10,000 sq. ft. The expansion is expected to be complete in the second quarter of 2022. The project is part of a series of investments PPG is making in its automotive OEM coatings production in Europe, including expanding basecoat production at its site in Valladolid, Spain, and the recently announced expansion of its clearcoat production in Erlenbach, Germany. Waterborne technology replaces the solvents found in traditional basecoats with distilled water, providing less odor and improved air quality in the work environment for PPG and its customers. PPG says these investments will help the company lower its operational carbon footprint in total by more than 1,000 metric tons of CO2 equivalent per year. “Weingarten is a particularly strategic site due to its proximity to several of our key German OEM customers,” said Roald Johannsen, PPG vice president, automotive OEM coatings, Europe, Middle East and Africa.

Source: Conway Analytics

Ontario

The Ontario government announced this week it is supporting a nearly C$10 million investment by Empack Spraytech Inc. in a new disinfectant wipe production facility in Barrie, with more than $1.2 million in support through the Ontario Together Fund. The investment will support Empack’s new 100,000-sq.-ft. facility, where 25,000 sq. ft. will have the capacity to produce more than 4 million wipes per day in order to meet continued and growing demand for disinfectant wipes since the onset of the COVID-19 pandemic. Ontario has invested an additional $50 million in the renewed Ontario Together Fund in 2021–22. “The fund will continue to support local innovators and businesses to further enhance Ontario’s domestic supply chain capacity, promote Ontario’s medtech ecosystem and build up our manufacturing sector to ensure the province is well-prepared for future challenges,” said a release from the provincial government. Founded in 1999, Brampton-based Empack employs more than 170 people in Brampton and Barrie, Ontario.

Source: Conway Analytics

 

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2021 GEORGIA ECONOMIC DEVELOPMENT GUIDE

METRO ATLANTA

Renewal in the Air

Snapshots of a city on the remake.

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From the September Issue

LIFE SCIENCES

New Tax Credits Help Attract Life Science Firms to Georgia

The Life Sciences Manufacturing Tax Credit signed into law last spring is an incentive pharmaceutical and other companies in the sector can add to the state’s Job Tax Credit.

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 SITE SELECTION RECOMMENDS 
Map courtesy of U.S. Department of Commerce

In late December, U.S. Secretary of Commerce Gina M. Raimondo visited the Russell Center for Innovation and Entrepreneurship in Atlanta, Georgia, where she announced the 60 finalists for the U.S. Economic Development Administration’s (EDA) $1 billion Build Back Better Regional Challenge, which provides up to $100 million per grantee to boost economic pandemic recovery and rebuild American communities (visit the link to link to project summaries for all 60 finalists). Raimondo was joined by U.S. Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo, who later visited Pittsburgh Yards, an Atlanta-area co-working space. In 2018, the project received a $1.5 million EDA grant to fund infrastructure improvements at the facility, which provides office space, storage, and retail store fronts to small businesses and entrepreneurs. Site Selection profiled the Russell Center in 2017, and we visited Pittsburgh Yards in 2019.

The Annie E. Casey Foundation is working with partners to transform a former trucking facility into a thriving hub of entrepreneurial ventures, workspace and industrial development at Pittsburgh Yards in south Atlanta.
Archive photo by Kelly Jordan

 

 PHOTO OF THE DAY 
Photo courtesy of the European Union

A view from on high takes in the 2022 French EU Presidency decorations at the Justus Lipsius building of the European Council in Brussels earlier this month. France holds the presidency of the Council of the European Union from January 1, 2022, through June 30, 2022. The French government has published a program for that period that features three ambitions: a more sovereign Europe, a humane Europe and a new European model for growth that seeks to “make Europe a land of production, job creation, innovation and technological excellence; in which economic development is aligned with climate goals; that supports innovation and the growth of European digital players and sets its own rules for the digital world; and that offers high-quality, high‑skilled and better-paying jobs.”

 
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