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ONLINE INSIDER
From the September Issue

DATA CENTERS

Hyperscalers Take Data Center Absorption to New Levels

The former suburban Chicagoland HQ of the friendly skies finds new life in the cloud.

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

NEWS DIGEST

North American Reports

Quick-hitting stories update you on Virgin Galactic in Arizona; Panasonic’s big bet on Kansas; SunZia’s transmission line in the Southwest; Pharmavite in Ohio; Fair Oaks Foods in Iowa; a16z’s plans to go virtual but open three new offices; and Toast popping up in Tennessee.

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Site of the Week
From the January Issue

Spec Development in Progress in South Carolina’s Northeastern Region

Multiple speculative building developments are underway in South Carolina’s northeastern region as a result of proactive effort from various counties to meet industry needs. Two speculative buildings are already available, including a 100,000-sq.-ft. building in Pageland, South Carolina (located a mere 45 minutes outside of Charlotte) and a county-owned 50,000-sq.-ft. building in Marlboro County. Construction of a 100,000-sq.-ft. speculative building has commenced along a CSX-operated rail line in Scranton, South Carolina. Further north, groundwork began for a 117,000-sq.-ft. speculative building along I-95 in Florence — just minutes from I-20.

There is no doubt these buildings will not be available for long due to soaring demand and the region’s ideal location along the East Coast, located halfway between New York and Miami along the I-95 corridor and with direct access to the Port of Charleston via Inland Port Dillon. To learn more, contact NESA at info@nesasc.org or at 843-661-4669.

 

 CONWAY DATA SNAPSHOT 

Map courtesy of IMF

The International Monetary Fund’s World Economic Outlook released this month was not sanguine. “Our latest forecasts project global growth to remain unchanged in 2022 at 3.2% and to slow to 2.7% in 2023 — 0.2 percentage points lower than the July forecast—with a 25% probability that it could fall below 2%,” writes IMF economic counselor Pierre-Olivier Gourinchas. “More than a third of the global economy will contract this year or next, while the three largest economies — the United States, the European Union, and China — will continue to stall. In short, the worst is yet to come, and for many people 2023 will feel like a recession.”

As for where GDP growth is occurring, the IMF data show oil-rich Guyana topping the list as the fastest-growing and Ukraine at the bottom with a forecast GDP drop of 35%. Other oil-soaked economies such as Saudi Arabia and Iraq also show dramatic upward spikes. Healthy rises are also forecast in such places as Ireland (9%), Montenegro (7.2%), Georgia (9%), Armenia (7%), India (6.8%), Colombia (7.6%), Panama (7.5%) and Vietnam (7%). Statista’s Katharina Buchholz notes that India is expected to surpass Japan as Asia’s second-largest economy by 2030. The country is No. 20 among all countries, and No. 9 among countries with GDPs of $20 billion or more. Learn more from the IMF’s 186-page World Economic Outlook analysis, including a special section on the near-term macroeconomic impact of decarbonization policies. — Adam Bruns

 

2022 ILLINOIS INVESTMENT GUIDE

HOSPITALITY & TOURISM

Getting Back to the Middle

From big city sights to outdoor exploration, Illinois has you covered.

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 SITE SELECTION RECOMMENDS 

GRESB, the global ESG benchmark for real estate and infrastructure investments, this week released the results of its 2022 Assessments. “The 2022 real estate benchmark saw the largest ever growth in total numbers,” said the Amsterdam-based organization. Oceania continues to lead the way, with the highest regional average score of 82 in the Standing Benchmark and 88 in the Development Benchmark, GRESB said, ascribing slight reductions in performance improvement scores in energy, GHG emissions, water and waste reductions to the fact that real estate portfolios returned to a pre-COVID-19 state of operations. “Globally, the real estate benchmark grew by 20% in 2022, representing 1,820 listed and non-listed portfolios across 74 countries and accounting for approximately USD 6.9 trillion of GAV,” said Sebastien Roussotte, CEO at GRESB. “We are proud to see the real estate industry deepen its commitment to ESG transparency and sustainability and lead the way in creating a more sustainable future for all.”

 

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 PROJECT WATCH 

India

Multiple sources report that Google, through a subsidiary named Raiden Infotech, has signed a 10-year lease for this space at the Adani Data Centre in Noida. As reported by Data Center Dynamics, the location is one of several being developed in Noida and beyond by a new JV formed last year between Adani and EdgeConneX to develop data centers across India, including 100 MW of capacity in Noida by next year. A recent CBRE report on India said data centers have welcome $14 billion in investment there in the past five years, and total investment could reach $20 billion by 2025.

Source: Conway Projects Report

Kansas

Infectious disease and immunology testing company Eurofins Viracor this month opened its new laboratory in Lenexa, Kansas, part of the Kansas City metro area. The new facility will be home to 450 employees— 215 current employees and 235 newly created roles — as the company creates additional capacity to support growth in biopharma and transplant diagnostic testing services. Eurofins employs over 61,000 staff across a network of 940 laboratories in 59 countries.

Source: Conway Projects Report

 

 

 PHOTO OF THE DAY 
Photo courtesy of BMW Group

“X” still marks the spot at BMW Group’s Plant Spartanburg, where the company yesterday announced a $1.7 billion investment in U.S. operations to include $1 billion to prepare for the production of electric vehicles at the company’s existing U.S. manufacturing facility in South Carolina, and $700 million to build a new high-voltage battery assembly facility in nearby Woodruff, South Carolina, where Envision AESC will produce the battery cells. By 2030 BMW Group will build at least six fully electric models in the U.S., where its Spartanburg plant has produced the company’s successful X models. “That means the ‘Home of the X’ is also becoming the ‘Home of the Battery Electric Vehicle,’ ” said BMW Group Chairman of the Board of Management Oliver Zipse.

 
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