i i
From the May Issue


St. George Catches Up With the Times

Or is it the other way around?

Read More >>>


The University of Pennsylvania in Philadelphia (whose Fisher Fine Arts Library is pictured in the foreground) is home to four of the top six business degree programs by median earnings net of debt two years after graduation.
Photo courtesy of University of Pennsylvania

A new report from the Georgetown University Center on Education and the Workforce (CEW) reveals “the economic value of business programs is high compared to the financial returns from other programs, though not as high as returns associated with health, engineering, and computer and information sciences programs.” Blending data on graduates’ earnings and their student loan debts to arrive at a net earnings figure for graduates of 5,500 business programs at more than 1,700 colleges, the CEW report, “The Most Popular Degree Pays Off,” finds that “the majority of business programs lead to median earnings that are roughly 10 times graduates’ debt payments two years after program completion.” Here are the institutions whose business degree graduates have the highest earnings net of debt at three degree levels:

  • Associate: Excelsior College in New York and Union County College in New Jersey ($44,400) were the only two associate degree programs among the Top 1,000.
  • Bachelor’s: Among 308 programs in the Top 1,000, No. 1 was Bismarck State College in North Dakota ($103,200), followed by Washington University in St. Louis ($82,800) and a tie at $80,400 between UCAL-Berkeley and the University of Virginia’s main campus in Charlottesville. While those rankings apply to business administration degrees, the University of Pennsylvania’s bachelor’s degree program in finance and financial management services ranks well above them all in a tie for No. 25 overall at $121,200.
  • Master’s: University of Pennsylvania ($165,600) leads the way, followed by Dartmouth College in New Hampshire ($162,000) and Massachusetts Institute of Technology ($159,600). Again, outside of the MBAs, the University of Pennsylvania’s master’s degree program in finance and financial management services ranks No. 1 among all 5,500 programs at $195,600.

Which states have the most successful collegiate business programs among the Top 1,000? I assembled the data from the Top 1,000 programs in the CEW rankings and arrived at this result:

State No. of Top 1,000 Business Programs
California 79 (30 at bachelor’s degree level)
New York 70
Pennsylvania 59
Texas 58
Massachusetts 47
Ohio 43
Illinois 42
Florida 36
Indiana 33
Michigan 31

“While more education in business typically leads to higher earnings, there are exceptions,” says the CEW. For example, an associate degree in business administration, management, and operations from Southern New Hampshire University leads to earnings net of debt of $44,400 two years after graduation, one of the highest among associate degree programs in business. Similarly, median earnings from that bachelor’s degree in finance from the University of Pennsylvania ($121,200 two years after graduation) are well above the median of $62,400 for master’s degrees in finance across institutions. By field of study, earnings net of debt payments are highest for business/commerce majors ($32,400) at the associate degree level, construction management majors ($62,400) at the bachelor’s degree level, and management sciences and quantitative methods majors ($96,000) at the master’s degree level. — Adam Bruns




Life in Texas

The high rankings of Texas across so many business categories are matched by the state’s high quality of place. Here are some snapshots of a few of them.

Read More >>>



Things go easy in Cayman Islands in more ways than one.

Photo by Adam Bruns

TMF Group this week launched the ninth edition of its 2022 Global Business Complexity Index, analyzing 292 annually tracked corporate compliance indicators such as regulations, incorporation timelines and tax rates across 77 jurisdictions that collectively account for 92% of the world’s GDP and 95% of global FDI flows. The 10 least complex jurisdictions are led by Cayman Islands, Curaçao andDenmark. The most complex? Brazil, France and Peru.

2022 Global Business Complexity Index Top 10 (most complex) and Bottom 10 (least complex)

1 Brazil
2 France
3 Peru
4 Mexico
5 Colombia
6 Greece
7 Turkey
8 Italy
9 Bolivia
10 Poland

68 United Kingdom
69 Norway
70 New Zealand
71 United States
72 Jersey
73 British Virgin Islands
74 Hong Kong
75 Denmark
76 Curaçao
77 Cayman Islands




Italy may be a complex place to get business done, but that doesn’t mean complex projects can’t happen there. Last week Switzerland’s ABB E-mobility opened its largest DC fast charger production facility in Valdarno. The 16,000-sq.-m. (172,228-sq.-ft.) site includes a 3,200-sq.-m. (34,445-sq.-ft.) development and prototyping space devoted to R&D, where 70 of the site’s 500-plus employees will work. The company said the facility indicates the company has more than doubled its charger production capacity, as the new plant will produce more than 10,000 additional DC chargers annually. ABB E-mobility has sold in excess of 680,000 EV chargers across more than 85 markets. Among the tools that will help the new facility achieve LEED-Gold certification is ABB’s own Ability Energy and Asset Manager, “a platform that monitors and efficiently manages over 9,000 devices throughout the facility — including thermal regulation, lighting and air handling units — resulting in a potential energy saving of 60% in comparison to traditional solutions,” says the company.

Source: Conway Analytics


Banco Santander earlier this month announced it would build a new corporate work center, designed by Handel Architects and constructed by Territoria, that “will set milestones in multiple dimensions, notably for environmental sustainability, energy efficiency, contribution to the wider city and job quality for those employees who work there.” Claudio Melandri, chairman of Santander Group in Chile, said the development “is a show of Santander’s long-term confidence in the country and a clear demonstration of the bank’s commitment to its customers and associates.” Completion of the 17-floor urban campus (five of them below ground level) is scheduled for 2026. The design opens up interior spaces for natural light and opens up toward the community with public spaces that include gardens and an amphitheater.

Source: Conway Analytics



Photo courtesy of IAMC

While looking back at 20 years of the Industrial Asset Management Council (www.iamc.org), we ran across this photo of commercial real estate executive Emmitt Smith, also known for playing a little football, who can light up a room like he used to light up opposing linebackers. It led us to think of another huge commercial real estate success story, Roger Staubach, who formed his company after also tossing around the pigskin. This led us to wondering: Could we assemble an entire football team’s worth of commercial real estate professionals, representing every position on offense and defense, from across the NFL … if not from the Dallas Cowboys alone? If you have suggestions for this all-star lineup, send the person’s name, professional title and football position to Site Selection Managing Editor Adam Bruns at adam.bruns@conway.com.