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

LOGISTICS & DISTRIBUTION

The Future’s Open Wide

As demand surges, new markets emerge, says Cushman & Wakefield’s top industrial expert. We ask some follow-up questions, and name the top states and metro areas for logistics facility investments.

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From the September Issue

INVESTMENT PROFILE: HOOSIER ENERGY

‘Better Places to Live’

Core principles of a cooperative lie at the root of Hoosier Energy’s ESG commitment.

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 CONWAY DATA SNAPSHOT 
The District of Columbia’s Adams Morgan neighborhood is known for its diversity and its wide range of independent businesses and night spots.
Photo courtesy of washington.org

Following last week’s initial analysis of top states by number of INC. 5000 companies, this week we dig further into the data. Next up: Top states by INC. 5000 companies per 1 million residents. They’re not a state (yet), but No. 1 District of Columbia leads by a long shot, perhaps due to a blend of a small population as compared to its metro-area population and a dynamic growth environment in sectors that include government contracting but are not limited to it. The multi-state D.C. metro area also is one key to Virginia’s No. 3 showing. Among the Top 10, Florida’s per-capita performance is notable given that it’s the No. 3 most populous state in the nation with a population of 21.7 million:

State INC. 5000 Companies per 100K population
DC 55.22
UT 36.25
VA 29.74
DE 25.91
CO 25.12
MA 21.91
AZ 21.16
MD 20.92
GA 20.56
FL 18.00

Which sectors are leading the way among the fast-growing INC. 5000 leaders? Below are the Top 10, led by software. ComptTIA’s 2022 CyberStates report found that the top states in net tech jobs added since the previous year were, in order, Texas, Florida, California, North Carolina and Washington, which rank Nos. 2, 3, 1, 12 and 18 in terms of overall INC. 5000 companies. The biggest shifts from last year’s numbers are pronounced increases in Advertising & Marketing firms and Business Products & Services firms, with a significant drop in health services possibly due to a fall-off in pandemic-induced activity. — Adam Bruns and Daniel Boyer

Industry Companies
Software 591
Advertising & Marketing 502
Business Products & Services 478
IT Services 379
Financial Services 325
Health Services 273
Consumer Products 268
Construction 252
Human Resources 211
Logistics & Transportation 209

 

2022 ILLINOIS INVESTMENT GUIDE

DATA CENTERS

How Illinois Built a Dream Home for Data Centers

The incentives bill that passed three years ago has turned the state into an open house.

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From the September Issue

REGIONAL HIGHLIGHTS

Divisible by 10

Dynamism drives a diverse collection of regional economies profiled in these snapshots.

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 SITE SELECTION RECOMMENDS 

Is your talent busy looking for a new place? Two reports may prove handy. Burlington, Vermont, is No. 1 in home showings per listing among the top 25 metro areas in that category in July, according to the ShowingTime Showing Index® from Chicago-based Zillow affiliate ShowingTime. The Vermont city and Hartford, Connecticut, were the only two of the 25 to show positive year-over-year growth in showings per listing as the U.S. overall saw a 16.8% dip in foot traffic.

Meanwhile, RentCafe has released a report on metro-area apartment construction activity, with New York City leading the way, followed by Dallas, Miami, Austin and Houston.

 

 PROJECT WATCH 

South Korea

Lest one think the U.S. CHIPS Act has caused all semiconductor activity to funnel toward the U.S., consider this project announced by SK Hynix last week that calls for a new fab called M15X (for M15 extension) on the company’s site in the Cheongju Technopolis industrial complex. Beginning in October and expected to be complete in early 2025, the fab will occupy 645,855 sq. ft. Since the company joined SK in 2012, it completed the M14 fab in 2015 in Icheon (a city known for its ceramics heritage, and not to be confused with Incehon), the M15 in Cheongju in 2018 and the M16 in Icheon in 2021. It’s not finished growing: “As for the next M17 fab,” said a company statement, “the company will decide construction plan after reviewing overall business environment including changes in the semiconductor business cycle.”

Source: Conway Projects Report

Argentina

Idaho-based Lamb Weston Holdings last week announced an expansion of french fry processing capacity in Argentina with the planned construction of a new manufacturing facility in Mar del Plata, Buenos Aires. “We’re grateful for the partnership of Sociedad Comercial del Plata, and the expertise they’ve shared over the last three years,” said Tom Werner, president and CEO of Lamb Weston, of the company’s stake in its South American JV Lamb Weston Alimentos Modernos S.A., which it just increased from 50% to 90%. “We felt it was the right time to increase our interest in the joint venture, and we look forward to continuing to work with them as we expand in the region.” Expected to be complete in mid-2024, the new facility will produce more than 200 million pounds of frozen french fries and other potato products per year for the 2-billion-pound South American market and add to the capacity produced at the joint venture’s existing manufacturing facility in Munro, Buenos Aires.

Source: Conway Projects Report

 

 

 PHOTO OF THE DAY 

Site Selection Senior Editor Gary Daughters snapped this pic of Niagara Falls Wednesday on assignment in Western New York. One of natural wonders of the world, the falls draws some 9.5 million tourists annually to Niagara Falls State Park, according to New York State. About five miles downstream, the New York Power Authority’s Robert Moses Niagara Power Plant provides up to 2.6 million kilowatts of clean electricity and serves as a regional economic driver. The prospect of abundant and affordable power proved to be the catalyst for what is projected to be North America’s largest green hydrogen production facility, now under construction at the Western New York Science, Technology and Advanced Manufacturing Park (STAMP) in nearby Genesee County. Plug Power, the STAMP site’s first tenant, is investing $290 million, a portion of which is to fund a 450-MW electricity substation that’s expected to facilitate additional power-heavy projects at the site.

 
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