Fiserv in metro Kansas City; Fermaca Dreams in Durango, Mexico; GE Aerospace in North Carolina; a $4 billion ammonia JV in Louisiana; a $23 billion U.S. investment plan from Novartis; the Top 10 most innovative states (note: No. 1 is not a state).
Last week’s announcement by JetZero that it would build a $4.7 billion, 14,500-job “factory of the future” at Piedmont Triad Airport in Greensboro, North Carolina, was hailed as the largest job announcement in the state’s history, albeit with a note that the job creation time frame extends to the late 2030s.
If the blended wing body aircraft from JetZero looks familiar, it’s because it’s similar in appearance to the aircraft (rendering below) conceived by San Diego-base Natilus, whose CEO Aleksey Matyushev spoke with Site Selection in March about the launch of the company’s site selection process for more than one manufacturing site. A spokesperson for Natilus this week told us no updates are available on the Natilus location hunt.
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The ports of Savannah (pictured) and Charleston posted strong month-over-month growth, says the Q1 industrial market report from Avison Young.
Photo courtesy of Georgia Ports Authority
Noting that more than $2.75 trillion in manufacturing investments have already been announced since January 2025, Avison Young’s Q1 2025 U.S. industrial market report says the pending U.S. tax bill “could be the catalyst for a significant surge in industrial development and investment across the country.”
As for current observations, the 26-page report says the construction pipeline has decreased “to levels not seen since the beginning of 2015 and is expected to reach historic lows matching the aftermath of the Global Financial Crisis. The industrial construction pipeline continues to reduce in size, as product that started construction just after the peak of Q3 2022 has largely delivered without replacement.” Meanwhile, “a historic wave of investment in battery and critical minerals continues to reshape the EV industry. The sharp rise in announced projects reflects a strategic shift toward strengthening domestic supply chains and reducing reliance on imports.”
PHOTO OF THE DAY
Photo courtesy of The Hip Hop Museum
Last month New Jersey Community Capital closed an $8.5 million New Market Tax Credit (NMTC) loan to The Hip Hop Museum, which anchors a new mixed-use development on the Harlem River in the Bronx called Bronx Point. The museum also has been helped by an $11 million grant from the New York Legislature in 2022.
“Given the sweeping depth, breadth and cultural significance of the museum and its location in the heart of the Bronx’s urban landscape and near Yankee Stadium, we know it will drive the foundational and enduring economic development of the borough in many ways,” NJCC President and CEO Bernel Hall said in a May 7 press release. According to narratives “documented in many sources that include Harvard University’s Hiphop Archive & Research Institute and multiple news outlets,” the release noted, hip-hop music originated at DJ Kool Herc’s sister’s party in the Bronx on August 11, 1973, when he used two turntables to extend the breaks of funk songs and allow longer dance instrumentals.
