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

GOVERNOR’S CUPS

The 2021 Governor’s Cups

The governors of Kansas and Texas corralled enough projects in 2021 to earn their states a Governor’s Cup — the first ever for one state and the 10th for the other.

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From the September Issue

TOP METROS

LA is Back and Chicago Still Rules

Amid a surge in projects, newcomers surge into the Top 10s across three population tiers by total projects and total projects per capita. But perennial leaders still reign.

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From the May Issue

TOP MICROPOLITANS

Eight Means Great for Findlay, Ohio

Speaking of perennial leaders, this Northwest Ohio community has done it again, fired by advanced manufacturing.

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From the May Issue

MISSISSIPPI RIVER CORRIDOR

Junctions That Function

The Twin Cities up north and Obion County and neighbors down south reign supreme in this year’s rankings of top metro and micropolitans areas along the Big Muddy.

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 CONWAY ANALYTICS SNAPSHOT 

Map courtesy of the Joint Center for Housing Studies of Harvard University

Still waiting for that appliance for your remodeling project? There seems to be no let-up in the backup. But those shortages might cool demand just a bit. The Joint Center for Housing Studies of Harvard University last week released its 2022 projections for national remodeling spending, which call for average annual growth of 13.8% across 48 major metro markets.

“Record-breaking home price appreciation, solid home sales, and high incomes are all contributing to stronger remodeling activity in our nation’s major metros, especially in the South and West,” said Sophia Wedeen, a research assistant in the Remodeling Futures Program at the Center. The largest gains in home improvement spending this year are projected to occur in Tucson (23%), Riverside-San Bernardino (21.9%), Phoenix (20.3%), Austin (19.2%), San Antonio (19.1%) and Las Vegas (17.5%).

Compare and contrast the report’s lists of hot remodeling markets (including this full dataset in spreadsheet format) with Site Selection’s Top Metros rankings above. Top 20 performers in both analyses include Austin, Atlanta, Dallas-Ft. Worth, Houston and Cincinnati. Another interesting exercise is to compare these top remodeling hotbeds with the places seeing the most foreclosures in 2021, as reported in the Year-End 2021 U.S. Foreclosure Market Report recently released by ATTOM. It showed that foreclosure filings were reported on 151,153 U.S. properties in 2021, down 29% from 2020 and down 95% from a peak of nearly 2.9 million in 2010, to the lowest level since tracking began in 2005.

“Although home remodeling is expected to accelerate broadly across top metros, ongoing shortages and rising costs of labor and building materials may dampen activity in the coming year,” said Carlos Martín, project director of the Remodeling Futures Program. “There will be shifts in local supply chains and the remodeling workforce as regional economies pull out of the pandemic, and as homeowner needs and activities change.” — Adam Bruns

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KANSAS: TO THE STARS

ADVANCED MANUFACTURING

Manufacturing Momentum

Already known for its aerospace cluster in Wichita, Kansas is also attracting advanced manufacturing activity to lesser-known areas thanks to its business-friendly state policies and Midwestern work ethic.

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From the September Issue

CORPORATE AND PROFESSIONAL SERVICES

Where Key Business Sectors Find Their Support Services

Two big projects in the Kansas City suburb of Overland Park headline activity in this sector across the state.

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 PROJECT WATCH 

Japan

Bosch Corp., the Japanese subsidiary of Robert Bosch GmbH, last week announced it would make this investment at its new R&D facility and the Ward Cultural Center. “This is the first time for Bosch worldwide to participate in a public-private partnership project that integrates Bosch locations with local facilities and to take an active role in the creation of a lively local community,” the company stated. Bosch will relocate its headquarters office from Shibuya Ward, Tokyo, to the new R&D facility. Construction on the largest single capital expenditure for the Bosch Group in Japan in its more than 110-year history is to be completed in September 2024. “Bosch and the Japanese automotive industry have enjoyed a longstanding, fruitful partnership since we first started our operations in Japan in 1911,” said Rolf Najork, member of the board of management of Robert Bosch GmbH responsible for Japan. “The establishment of the new R&D facility will strengthen our cross-divisional development capabilities, allowing us to drive future mobility together with our local partners.”

Source: Conway Analytics

Scotland

Multiple media sources in early February reported just over 200 jobs (a 17% workforce increase to a staff of 1,140) would be created by this project to expand Charles River Laboratories’ R&D buildings at their Elphinstone operation in East Lothian, Scotland, in the Edinburgh area. The site does vaccine safety and efficacy testing, among other activities, including for COVID-19 vaccines. The project is separate from another expansion the company announced in Cheshire, UK. “We are very much looking forward to opening our brand-new facilities in autumn 2022,” Geoff Burns, general manager, Charles River Edinburgh, told Edinburgh Live. “We are committed to attracting the best and the brightest in the industry, and we believe this latest investment, along with our minimum salary level increase, will help set us apart and cement Charles River Edinburgh as the best place to develop your career in life sciences.” The life sciences sector in Scotland encompasses more than 37,000 people working for approximately 700 organizations.

Source: Conway Analytics

 

 

 EVENTS 

 

OREGON ECONOMIC DEVELOPMENT GUIDE

EXECUTIVE Q&A

Building a Clean Energy Future

An interview with PGE President and CEO Maria Pope.

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From the September Issue

INVESTMENT PROFILE: SOUTHERN OREGON UNIVERSITY

Leadership Begins Here

Southern Oregon University’s micro-credential program creates key connections in the Rogue Valley.

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 SITE SELECTION RECOMMENDS 
Graph courtesy of the U.S. Census Bureau

The U.S. Census Bureau’s Business Dynamics Statistics (BDS) in mid-February released its annual measures of establishment openings and closings, firm startups and shutdowns, and job creation and loss, with analysis covering 40 years of data through 2019. The data include compelling findings with regard to age and size of establishments, with one overall observation: “Young start-up businesses have been a key driver of economic growth,” the Census Bureau states, “yet more and more of the American workforce has become concentrated at older, more mature firms.”

 

 PHOTO OF THE DAY 

Major League Baseball clubs like the Chicago Cubs led by his brother Tom Ricketts may not be playing ball, but Nebraska Gov. Pete Ricketts (r.) found time to have a catch on March 1, alongside the thawing Missouri River in Sioux City, Nebraska, with Kevin Negaard, executive director of Sunnybrook Community Church in Sioux City, Iowa. Negaard is playing catch with a different individual until he reaches 365 as a way to draw awareness to and raise funds for the Miracle League of Sioux City, whose mission is to provide “recreational facilities designed for individuals with disabilities to enable integrated play, promote acceptance and safety, provide positive experiences, and inspire laughter and joy for participants and their families.” He began the campaign on January 18 playing catch with his father at the area’s Miracle Field complex. The day after the round with Gov. Ricketts he played catch with playing companion No. 44 for the year, Site Selection Managing Editor Adam Bruns.

 
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