i i
ONLINE INSIDER
From the September Issue

More Than a Colorful Sunset

Despite a COVID-induced bump, outdoor recreation has been on the wane, Anna Reuter reports. One expert says it’s time to diversify.

Read More >>>

 

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

NEVADA

Can Nevada Become the Lithium Capital of America?

Mining investors line up to take part in the new rare earth mineral rush.

Read More >>>
From the September Issue

INVESTMENT PROFILE: INDIANA MUNICIPAL POWER AGENCY

It’s a Home Game in Indiana, USA

Programs to attract talent and new amenities aim to put Indiana communities in a league of their own.

Read More >>>

 

ii
 CONWAY DATA SNAPSHOT 

It’s time for our third and final chapter of INC. 5000 location analysis, following the summary of overall leaders and breakdown by top states in firms per capita and by industry sector. What do the data tell us about the cities and metros with the most INC. 5000 firms?

Atlanta tops the top cities list with 115 INC. 5000 firms, edging out Chicago (113) and Austin (112). Boston, Tampa, Scottsdale and Miami (in that order) finished just behind these Top 10 locations:

City Companies
1. Atlanta 115
2. Chicago 113
3. Austin 112
4. San Francisco 87
5. Dallas 77
6. Houston 60
7. San Diego 57
8. Denver 54
9. Los Angeles 51
10. Phoenix 46

Most companies care less about municipal lines, however, and more about the power of regions. If we evaluate by CBSA, here’s how the Top 10 shake out, with DC and LA tied at the top and Austin, Philly and Denver on the outside looking in:

Metro Companies
T1. Washington-Arlington-Alexandria, DC-VA-MD-WV 286
T1. Los Angeles-Long Beach-Anaheim, CA 286
3. Atlanta-Sandy Springs-Alpharetta, GA 206
4. Chicago-Naperville-Elgin, IL-IN-WI 202
5. New York-Newark-Jersey City, NY-NJ-PA 190
6. Dallas-Fort Worth-Arlington, TX 185
7. Miami-Fort Lauderdale-Pompano Beach, FL 170
8. San Francisco-Oakland-Berkeley, CA 165
9. Phoenix-Mesa-Chandler, AZ 143
10. Boston-Cambridge-Newton, MA-NH 138

Ah, but what about the density of innovation? One final dig into the data yields the following leaders in number of INC. 5000 firms per 1 million metro-area residents, with such areas as Provo and Salt Lake City in Utah, Raleigh, Richmond and Nashville staking their claims as hot spots for rapid business growth. — Adam Bruns and Daniel Boyer

Metro Companies Per 1M People
1. Austin-Round Rock-Georgetown, TX 67.50
2. Provo-Orem, UT 53.00
3. Washington-Arlington-Alexandria, DC-VA-MD-WV 47.67
4. Salt Lake City, UT 43.00
5. Raleigh-Cary, NC 40.00
6. Richmond, VA 36.00
7. Atlanta-Sandy Springs-Alpharetta, GA 34.33
8. San Francisco-Oakland-Berkeley, CA 33.00
9. Denver-Aurora-Lakewood, CO 32.33
10. Nashville-Davidson--Murfreesboro--Franklin, TN 31.00

 

ii
2022 ILLINOIS INVESTMENT GUIDE

RESHORING

How Illinois Became a Top 10 State in Reshored Jobs

Reshoring Initiative Founder and President Harry Moser helps shed light on why it makes sense to bring operations back to the Land of Lincoln.

Read More >>>
From the September Issue

QUALITY OF LIFE

A Sense of Nostalgia Opens Its Arms to All

Illinois is and always has been a mirror of America, as its people, commerce and culture personify the nation’s grand ambitions, vast diversity and enduring traditions.

Read More >>>

 

 SITE SELECTION RECOMMENDS 

This technical center in JinQiao (Shanghai) is one of many facilities BASF has constructed in Greater China since it entered the market in 1985.

Photo courtesy of BASF

Known for its data-driven expertise in Chinese inward and outward FDI, among other topics, Rhodium Group last week released a new study called “The Chosen Few: A Fresh Look at European FDI in China.” Among its findings: “While a handful of large firms, many of them German, continue to pour money into their China operations, many other firms with a presence in China are withholding new investment,” the group says. “At the same time, virtually no new European firms have chosen to enter the Chinese market in recent years. And acquisitions of Chinese firms have stalled, with greenfield investments increasingly dominating the FDI landscape.”

Among the striking statistics: Daimler, VW, BMW and BASF alone contributed 34% of all European FDI into China by value from 2018 to 2021. BASF’s history there goes back to 1885, says the company, when, “20 years after founding Badische Anilin- & Sodafabrik, a director by the name of Theodor Sproesser traveled to China. His job was to convince the Chinese of the benefits offered by our dyes.”

 

 PROJECT WATCH 

Ireland

IDA Ireland last month announced that Abbott, which has had a presence in the country for more than 75 years, would invest a total of €440 million and create a combined 1,000 jobs at a new 250,000-sq.-ft. greenfield manufacturing facility in Kilkenny and expansion at its Donegal Diabetes Care site. The Kilkenny project will be located at the IDA Business and Technology Park in Loughboy, subject to planning permission, and will give Abbott the capacity to substantially increase production of its FreeStyle Libre technology for people with diabetes. “These 1,000 new jobs are a huge boost and really speak to the strength of Abbott’s 5,000 existing staff here,” said Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar. “We never take this investment for granted.”

Source: Conway Projects Report

India

Building technology company Johnson Controls earlier this summer opened its new OpenBlue Innovation Center for engineering and excellence at Gowra Fountainhead, HITEC city in Hyderabad. With a focus on security products, the new 41,000-sq.-ft. center joins an existing network of OpenBlue Innovation Centers in India that includes locations in Pune, Gurgaon, Bangalore and Delhi. “By deploying new fifth wave technology advances in the form of IoT, AI and 5G, buildings will be reimagined to deliver on decarbonization, sustainability, energy efficiency and renewable energy goals while optimizing performance,” said Vijay Sankaran, Johnson Controls chief technology officer. “This new center is aligned with our innovation in building technology and the strong network of Johnson Controls OpenBlue Innovation Centers across the globe.” “The establishment of the Johnson Controls OpenBlue Innovation Center in Hyderabad, is significant for fostering critical innovation in sustainable technology for building security, and for the state’s efforts towards establishing itself as a hub for tech-innovation and talent in India,” said Telangana Minister for Municipal Administration & Urban Development, Industries & Commerce, and Information Technology K. T. Rama Rao. After 27 years in India, Johnson Controls India today has 6,000 employees, “with plans to further expand in the country over the next few years,” the company said.

Source: Conway Projects Report

 

 

 PHOTO OF THE DAY 

During the International Economic Development Council’s annual conference in Oklahoma City this week, Site Selection regional sales directors Margaret Rose, Cathy McFarland and Paul Newman (l. to r.) had so much fun at Whiskey Cake restaurant that they ate there twice. “We really enjoyed the city,” Paul says. Every day we appreciate the work of these three and all of our sales directors who represent us so well across the country and around the world.

Close readers noticed that we misspelled our own publisher’s last name the other day while featuring one of her gorgeous photos from Montana. We’re taking this opportunity to reflect … but that just makes us think of another one of Site Selection Publisher Laura Lyne’s amazing Montana images. This one’s of McDonald Lake, not far from her ranch in the Mission Mountains.

 
[[trackingImage]]