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

CANADA

True North: Canada’s Best Locations 2022

Led by 10 municipalities and regions in top competitive province Ontario, these two dozen areas from Halifax to Vancouver showcase Canadian economic development momentum. Track down these areas and dozens more in the Canada economic development directory.

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From the September Issue

TOP UTILITIES 2022

There for You Come Rain or Shine

The Top Utilities in Economic Development are there to help businesses steer around challenges so they can grow and prosper no matter what the weather or the business climate deliver. Find even more high-performing utility economic development teams in our annual utility directory.

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 CONWAY DATA SNAPSHOT 
The San Francisco Bay Area is tops in tech talent no matter which index you’re using.
Photo by Epic Trails | Heliconia courtesy of San Francisco Travel Association

Readers familiar with CBRE’s annual “Scoring Tech Talent” report can now compare and contrast that scorecard’s findings with those found in a new report from service provider rival Cushman & Wakefield, “Tech Cities: The Global Intersection of Talent and Real Estate.” Or let us do some comparing and contrasting for you.

In its 127 pages, the in-depth CBRE report not only ranks the top 50 largest tech talent markets by 13 metrics, but also examines 10 up-and-coming Latin American markets and 25 up-and-coming markets in the U.S. and Canada. A plethora of charts breaks out top markets by tech disciplines, and also ranks markets by estimated one-year wage and rent costs for a typical tech firm: The Bay Area, New York and Seattle are the costliest, while eight Canadian markets are the least costly, with Quebec City the most inexpensive. Here are the top-ranked tech talent markets:

CBRE 2022 “Scoring Tech Talent” Rankings

  1. Bay Area
  2. Seattle
  3. Toronto
  4. Washington, D.C.
  5. New York Metro
  6. Austin
  7. Boston
  8. Vancouver
  9. Dallas-Ft. Worth
  10. Denver
  11. Atlanta
  12. Los Angeles/Orange County
  13. Ottawa
  14. Baltimore
  15. Montréal

For its part, Cushman & Wakefield evaluates “more than 115” tech cities globally according to 14 criteria and identifies what it says are 46 top tech markets. However, rather than rank them globally or even by region, it breaks out lists by world region and presents the group alphabetically, allowing the reader to use tools to sort them out by various criteria such as talent pool, talent cost and cost of office space. Toggling world regions on and off allows live comparisons within a single region or across them. For instance, Toronto is the most competitive in the Americas in terms of talent, but the pool is smaller than in the Bay Area, which leads the Americas when blending competitiveness and size of pool. Add in the EMEA and APAC regions and viable options pop up in London, Beijing, Paris and Tokyo. The report also features 50 pages of market summaries once you’re ready to drill down and see details such as top tech occupiers and transactions, asking rents and projects under construction, complete with local market research contacts.

The Cushman & Wakefield tool features 19 markets in the U.S. and Canada, including the top 12 in the CBRE ranking. Below are the highest-ranked CBRE tech talent scores that don’t make Cushman & Wakefield’s more global list. — Adam Bruns

CBRE Rank Market
13 Ottawa
14 Baltimore
17 San Diego
18 Salt Lake City
21 Minneapolis-St. Paul
23 Portland, Oregon
24 Waterloo
25 Detroit

 

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2022 ILLINOIS INVESTMENT GUIDE

LETTER FROM THE GOVERNOR

‘Thriving in the Land of Lincoln’

“This year’s Illinois Investment Guide comes amidst the best time to do business in Illinois in recent memory,” writes Gov. JB Pritzker, before explaining why that’s the case.

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From the September Issue

BUSINESS CLIMATE OVERVIEW

How Illinois Became a Top 5 State

Chicago and the state perform at an elite level in winning capital deals.

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SURVEY

ANNUAL BUSINESS CLIMATE RANKINGS

Corporate Readers: Site Selection Seeks Your Input

The editors of Site Selection are preparing the annual Business Climate rankings, and we need your help. A key part of the rankings that appear in our November issue is input from you on which states have the business climates you find most attractive. Please take a minute to respond to the simple survey that follows. The deadline is Friday, September 2nd. Click on the following survey link to take this survey: https://forms.office.com/r/0aATZimz43

 

 SITE SELECTION RECOMMENDS 

When there are 540 unicorns, are they still unicorns? Something to ponder as you study the compelling results of this Startup Genome report about where startups begin their lives and where they end up locating as they mature. Hungry for more? Then check out CB Insights’ global unicorn map and the Pitchbook-NVCA Venture Monitor for Q2 2022, which reports 256 unicorn deals so far in 2022.

Click Here to Enlarge

Graph courtesy of Pitchbook-NVCA

 

 PROJECT WATCH 

South Korea

Last week SK Geo Centric announced its JV with Saudi Basic Industries Corporation (SABIC) known as SABIC SK Nexlene Company (SSNC), will construct a a high-performance chemicals factory in Ulsan City. Nexlene is a high-performance product developed by SK Geo Centric in 2010 using ethylene as a raw material. The expansion will produce 210,000 tons of Nexlene products annually. “This new and expanded project will increase its annual output by 43% to 300,000 tons, while exporting more than 90% of its output overseas,” a release from SK Geo Centric stated. The investment is aimed at actively responding to the rapidly increasing market demand for high value-added environmentally friendly materials in automobiles and solar energy, the company said, including polyolefin elastomers (POE), polyolefin plastomers (POP) and linear low density polyethylene (LLDPE). “By developing excellent high-performance products, South Korea's Nexlene has broken the market pattern once monopolized by global petrochemical companies such as Dow Chemical,” said the release, “and is achieving rapid development.”

Source: Conway Projects Report

Pennsylvania

Last week ElevateBio and the University of Pittsburgh announced that they have entered into a long-term strategic partnership to accelerate the development of “highly innovative cell and gene therapies” at one of ElevateBio’s next BaseCamp process development and Good Manufacturing Practice (GMP) manufacturing facilities at the Pitt BioForgeBioManufacturing Center at Hazelwood Green, created by the University of Pittsburgh after a $100 million grant from the Richard King Mellon Foundation that was announced last November. “To realize our vision of transforming the cell and gene therapy field for decades to come, broadening our footprint across metropolitan areas is a key priority for us, and we are thrilled that the University of Pittsburgh will be home to one of our BaseCamp facilities,” said David Hallal, chairman and CEO of ElevateBio. “We’ve identified Pittsburgh as an ideal location to extend our BaseCamp presence as it sits at the intersection of science, technology, and talent.” Supported by such organizations as the Pittsburgh Regional Alliance (the economic development affiliate of the Allegheny Conference on Community Development), the project has been offered incentives from the county and from the Commonwealth of Pennsylvania. “We are excited that Pitt, working with UPMC Enterprises, has attracted ElevateBio to this region,” said Leslie Davis, president and CEO of UPMC (University of Pittsburgh Medical Center). “The company’s expertise and manufacturing capabilities, combined with Pitt research and UPMC’s clinical excellence, are essential to delivering the life-changing therapies that people depend on UPMC to deliver.”

Source: Conway Projects Report

 

 

 PHOTO OF THE DAY 

The approaching U.S. Labor Day holiday is a good time to examine two images of one of Diego Rivera’s most accomplished murals — “Detroit Industry” — on the walls of a court inside the Detroit Institute of Arts. Rivera created the frescoes between April 1932 and March 1933 and the overall work was presented as a gift to the city by Edsel B. Ford. “The themes established on the east wall are continued on the west wall, where the technologies of the air (aviation) and water (shipping and pleasure boating) are represented in the upper panels,” says a DIA description. “The half-face/half-skull in the central monochrome panel symbolizes both the coexistence of life and death as well as humanity's spiritual and physical aspects, while the star symbolizes aspirations and hope for civilization. This heraldic image introduces another major theme of the cycle: the dual qualities of human beings, nature and technology. Vertical panels on each side of the west entrance to the court introduce the automobile industry theme through the representation of Power House No. I, the energy source for the Rouge complex,” the Ford manufacturing site now receiving a major investment to expand production of the F-150 Lightning electric truck.

Images courtesy of Detroit Institute of Arts
 
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