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ONLINE INSIDER
From the September Issue

Will Twitter Leave the Nest?

Experts in HQ movement handicap the potential winners of a high-profile relocation.

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

BEST TO INVEST

Top Deals

This year for the first time we ranked the top 20 North American deals, based on job creation and capex. In this expanded edition, we also present the top 20 deals abroad.

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From the September Issue

EDITOR’S VIEW

Where’s the Right Port in a Storm?

“We’re used to black swans causing disruptions here and there,” writes Mark Arend. “But a year after our last issue recognizing the Global Best to Invest locations for capital investment, the world is a very different place.”

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From the May Issue

INVESTMENT PROFILE: JAMAICA PROMOTIONS CORP.

Meet the New Logistics Capital of the Caribbean

Container ships are ‘cool running’ to ports of call in Jamaica.

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 CONWAY ANALYTICS SNAPSHOT 
Click to Enlarge

A new report from Rhodium Group and the Mercator Institute for China Studies (MERICS) summarizes China’s investment footprint in the EU-27 and the United Kingdom in 2021, noting a pronounced surge in Chinese venture capital investment into European startups and that, “in 2021, greenfield investment reached €3.3 billion, the highest ever recorded value, making up almost a third of all Chinese FDI.” However, 2021 was the second lowest year (above only 2020) for overall Chinese FDI in Europe since 2013, says the report. “Last year, completed Chinese FDI in Europe increased 33% to €10.6 billion, from €7.9 billion in 2020,” the report states, driven by the pronounced greenfield influx and the acquisition of Philips’ home appliance business by Hong Kong-based private equity firm Hillhouse Capital. That takeover made the Netherlands the biggest destination for Chinese investment in 2021. “Germany, France and the UK,” says the report, “accounted for another 39% of total Chinese investment.”

Among the major Chinese corporate investment projects most recently tracked in the EU and UK by Site Selection’s Conway Projects Database are:

  • Shanghai Enjie New Material Technology’s $214 million, 440-job aluminum products plant in Debrecen, Hungary (the same city where South Korean firm EcoPro BM’s battery cathode plant was among our Top International Deals of the Year above);
  • Huawei Technologies’ nearly $1.4 billion, 400-job optoelectronics R&D complex in Sawston, England, at the site of a former paper mill;
  • Another Huawei project, this time investing $306 million and creating 300 jobs, in Brumath, Alsace, France
  • A 2020 investment of $29 million by Lenovo in a 1,000-job computer manufacturing plant in Ullo, Hungary.

The Rhodium/MERICS report said consumer products (because of the Hillhouse acquisition) and automotive were the top sectors for Chinese FDI in Europe and the UK, with activity in automotive driven by greenfield investments in electric vehicle batteries. “Together, the two sectors accounted for 59% of total investment value,” the report said. “The next three biggest sectors were health, pharma and biotech; information and communications technology (ICT); and energy.” — Adam Bruns

 

TEXAS ECONOMIC DEVELOPMENT GUIDE 2022-2023

COVER STORY: Q&A WITH ADRIANA CRUZ

The Push for Win No. 11

A decade of dominance is fueled by dedicated and determined leadership.

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From the September Issue

TEXAS SUCCESS STORY

A Beaver with Bite

Ron Starner looks into the Texas origins of the Texas-scale convenience store sweeping the nation: Buc-ee’s.

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 SITE SELECTION RECOMMENDS 
Aurora, the Queen of Lake Union, recently sold for $3.6 million.
Photo courtesy of Realogics Sotheby’s International Realty

Remember the houseboat Tom Hanks’ character Sam Baldwin and his son Jonah inhabited in the 1993 classic “Sleepless in Seattle.” Well, Sam, that particular residential niche is fully awake now. Late April saw the release of the second annual Realogics Sotheby's International Realty (RSIR) Floating Home Market Report, which finds that “2021 proved to be one of the busiest years yet for sales of floating property in Seattle — the most niche lifestyle and unique Seattle real estate sub-market.” Among the report’s observations: Being on the end of a dock — just like having a home on the end of a peninsula — carries a premium. And only 15% of local floating homes lease their slip. “The value of a floating home on an owned slip increases significantly, where the average sales price of a floating home on a co-op or condo dock was $1,612.431,” says the report, “while a floating home on a leased dock has an average sales price of just $574,500.”

 

 EVENTS 

 

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 PROJECT WATCH 

Germany

Functional ingredient manufacturer BENEO has announced this €50 million investment in a new pulse processing site in Offstein, Germany, to produce protein rich pulse ingredients for food and animal feed. It will focus initially on protein concentrate, starch rich flour and hulls from Faba bean, with the option to process other pulses in the future. “The new production site further strengthens the company’s plant-based protein portfolio and enables BENEO to meet growing demand for plant-based food and feed ingredients,” the company said. “The plant-based protein trend is here to stay. It is predicted that by 2027, 75% of all protein demand will be vegetal, while products using these proteins are expected to reach 11% CAGR between 2020-2027.” Construction has begun and is expected to be completed within the second half of 2024, creating up to 25 jobs at the Offstein site.

Source: Conway Analytics

Maryland

Roofing product maker IKO, based in Wilmington, Delaware, held the grand opening for this new production facility in late April. The project was originally announced in March 2019. The company’s sixth U.S. manufacturing site began manufacturing product in the latter half of 2021, said the company, and employs around 40 at this startup stage. The 460,000-sq.-ft. production and warehouse facility “marks IKO's first manufacturing site for thermoplastic polyolefin (TPO), a single-ply roofing membrane material used in the commercial flat roofing market,” the company said. “In addition to TPO, the plant will also produce polyisocyanurate (ISO) insulation products for distribution across North America. A long-time supplier to the residential roofing marketplace in the United States, IKO opened its first U.S. based asphalt shingle plants in Delaware, Illinois and Ohio in 1981 and exports to around 100 countries globally.” Established in 1951, IKO operates more than 35 manufacturing plants throughout North America and Europe.

Source: Conway Analytics

 

 

 PHOTO OF THE DAY 
Construction of the LAX Automated People Mover guideway over Sepulveda Boulevard was executed by a JV team comprising Fluor, Balfour Beatty, Dragados USA and Flatiron.
Photo by Brandon Tseng with Los Angeles World Airports

Fluor this week released this striking image of the train guideway structure for Los Angeles International Airport’s Automated People Mover that its joint venture team LINXS Constructors (comprising Fluor, Balfour Beatty, Dragados USA and Flatiron) has completed constructing. “The guideway is the latest construction milestone for the $4.9 billion mega infrastructure project, which is scheduled for completion in 2023,” Fluor said about the 2.25-mile, six-station electric train system, the centerpiece of LAX’s Landside Access Modernization Program.

“The Automated People Mover project is a critical investment for Los Angeles’ infrastructure as the city prepares to host the 2028 Olympic and Paralympic Games,” said Thomas Nilsson, president of Fluor’s Infrastructure business. “The Automated People Mover will be so much more than another way to get to LAX,” said Los Angeles Mayor Eric Garcetti. “It is the piece of the puzzle that will end the congestion that has been plaguing our airport for decades,”

 
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