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| FROM SITE SELECTION MAGAZINE, MARCH 2023 ISSUE |
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AGRIBUSINESS
Scaling up is posing challenges to some — but not all — indoor agriculture leaders.
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MINNESOTA
Gain insights from the annual Manufacturing Business Conditions Survey conducted by the Minnesota Department of Employment and Economic Development (DEED).
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| KENTUCKY — WHERE TRADITION MEETS INNOVATION |
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INNOVATION HUBS
Entering a new era of early-stage business funding, KY Innovation prioritizes startups and entrepreneurial success.
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| SITE SELECTION RECOMMENDS |
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AFIRE, the association for international real estate investors focused on commercial property in the United States, in late March released its AFIRE International Investor Survey: Q1 2023 Pulse Report, underwritten by Holland Partner Group. The survey reports that institutional investors “continue to see the U.S. as a preferred destination relative to Europe for real estate investment across property types, led by multifamily and industrial.”
The report finds that New York has regained its status as the top U.S. spot for investment in 2023, displacing previous top three cities from the past several years Atlanta, Austin, and Boston. “While it remains to be seen if this indicates a renewed faith in gateway markets, secondary and tertiary market trends continue to be key to the broader U.S. market,” says AFIRE. “Internationally, London remains the top global city for planned investment.”
“While continued rising interest rates and the future of office are identified as areas of concern at this time,” said Gunnar Branson, CEO of AFIRE, “investors’ long-term horizon enables them to balance these against opportunities, in particular the relative strength of the U.S. real estate market as a preferred global destination for investment capital.”
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| COLORADO – BUSINESS COMES TO LIFE 2023 |
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OUTDOOR RECREATION
Colorado’s outdoor recreation industry cashed in over $11.6 billion in 2021. What’s next?
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Oklahoma
Pratt & Whitney, a Raytheon Technologies business, in March announced plans to invest $255 million through 2028 in a new 845,000-sq. ft. facility in Oklahoma City that will act as a hub for depot operations for all Pratt & Whitney military engines, including those for the F-35, C-17, F-22, F-15, F-16, B-52, and E-3 AWACS. “This $255 million investment in a world-class sustainment center helps strengthen Oklahoma’s position as the MRO capital of the world,” said Oklahoma Governor Kevin Stitt. The site is part of the company’s global sustainment network that includes “activations” in Australia, Japan, Netherlands and Norway and U.S. locations in Marine Corp Air Station Cherry Point in North Carolina and Naval Air Station Jacksonville and West Palm Beach in Florida. “Pratt & Whitney’s Oklahoma City site plays a critical role in our global sustainment network,” said Jill Albertelli, president, Pratt & Whitney Military Engines. “Last year, the team achieved record output for the F117, F119, and F135 Heavy Maintenance Centers — this investment in a new facility will further expand our capabilities and reaffirm our commitment to our customer for years to come.”
India
Digital integrated business services company Teleperformance, which plans to add an additional 20,000 employees over the next 18 months to the more than 90,000 it already employs in India, last week opened a new site at DLF Cyber City in the Hyderabad suburb of Gachibowli. Named “AVINYA” (from the Sanskrit for “innovation”), the campus spans over 52,000 sq. ft. and will accommodate more than 1,000 employees. “The office is based on the theme of Artificial Intelligence and will house operations for global clients,” the company said, noting that its amenities include a 24x7 cafeteria, an indoor gaming zone, meditation corners, ample parking space and gender-neutral bathrooms allowing for a more diverse and inclusive workforce. The site joins an Indian portfolio that includes the recently inaugurated TP Olympiad at Mohali and TP Campus at Cyber Hub, Gurgaon. The company also noted that in addition to “building additional state-of-the-art infrastructure across metro and Tier-2 cities, it also continues to lead the anywhere-anytime work model, leveraging its Cloud Campus – a global virtual workforce platform.” Teleperformance employs more than 410,000 people globally.
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What’s the largest privately held employer in Texas? It’s the same company that just got voted by Texas Monthly readers as the ultimate Texas brand. H-E-B, with more than 430 stores and 154,000 employees, continues to expand, including the grand opening in February of this new 97,000-sq.-ft., multi-level store in the Austin neighborhood of Lake Austin. As any H-E-B devotee will tell you, it’s not just a grocery store, it’s a destination. This one offers a True Texas BBQ restaurant, SouthFlo Pizza, Lake Austin’s Coffee Spot, and underground parking. The complex will employ 300 people.
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