|
|
|
|
|
|
|
|
|
PENNSYLVANIA
All In on AI
Alexis Elmore reports from Pittsburgh as mega-announcements take place across town and “the electricity in the air was palpable.”
|
|
|
Read More >>>>
|
|
|
|
|
|
GRAND JUNCTION INTELLIGENCE REPORT
More Than Just a Pretty Place
The exuberant sense of community, craft, hard work and positive lifestyle in Grand Junction, Colorado, comes as naturally as the breathtaking scenery.
|
|
|
Read More >>>>
|
|
|
|
ADVERTISEMENT
|
|
|
|
|
Image of Amgen Manufacturing Limited site in Juncos courtesy of Amgen
|
|
In addition to an expansion in Ohio, Amgen has announced a $650 million expansion of its biologics operation in Juncos, Puerto Rico, that will create nearly 750 jobs, including construction and manufacturing jobs. “This expansion underscores Amgen’s commitment to U.S. biomanufacturing and to strengthening the resilience of our global supply chain,” said Robert A. Bradway, Amgen chairman and CEO.
“Amgen’s multimillion-dollar expansion reflects a bond of mutual loyalty — Amgen’s sustained investment and Puerto Rico’s skilled, resilient workforce reinforcing each other over time,” said Puerto Rico Governor Jenniffer González Colón. “This new expansion not only strengthens U.S. supply chain security through reshoring, it also opens new horizons for our people as we build an innovation ecosystem that positions Puerto Rico as the strongest biopharmaceutical hub in the United States.”
The company said it has invested more than $40 billion in U.S. manufacturing and R&D since the passage of the Tax Cuts and Jobs Act (TCJA) of 2017. “The enactment of pro-growth tax policies in TCJA, extended and reinforced by the One Big Beautiful Bill Act of 2025, further facilitates Amgen’s ability to invest domestically in cutting-edge science and manufacturing,” the company said, noting recent investments that include a $600 million science and innovation center in California and manufacturing expansions of $900 million in Ohio and $1 billion in North Carolina.
A major expansion by Amgen in Juncos was first chronicled in Site Selection in March 2006, and was the subject of our May 2007 Top Deals cover for a story we called “Islands of Innovation.” We talked to Amgen execs about investments in that plant and their big Ireland plant in 2006 and about their 2021 decision to build in New Albany, Ohio, in this July 2022 Investment Profile. Watch for an exclusive interview with an Amgen executive about the latest Ohio expansion decision in the forthcoming Great Lakes Economic Development Guide from Conway Custom Content.
|
|
|
|
|
|
|
Find Your Greater
As the fastest growing major metro in the Midwest (U.S. Census) and with a cost of doing business that’s 14.6% below the national average (Moody’s Analytics), Greater Des Moines, Iowa is a prime location for growth, as companies like these attest. Tools like DSM RFI Ready program support business development in the region. DSM RFI Ready sites are development-ready sites and have the necessary data documented to help companies make informed site decisions. For insights and details about doing business in Greater Des Moines, reach out to the economic development team at the Greater Des Moines Partnership, the region’s economic and community development organization.
|
|
|
|
See what greater looks like in DSM >>>>
|
|
|
|
|
|
|
|
|
|
ADVERTISEMENT
|
|
|
|
|
|
|
This week UN Trade and Development released an update of global foreign direct investment via its FDI Explorer tool that showed FDI rose by 4% in 2024 to $1.5 trillion. “But the headline figure masks sharp underlying weaknesses,” the organization warned, “and was inflated by volatile financial transactions through several European economies with high levels of ‘conduit flows.’ ”
The FDI Explorer can be used to track FDI countries of origin as well as destination, with data going back to 1990. Among top-line observations:
- “In 2024, the United States remained both the largest source and destination of FDI, underscoring its central role in the global economy. Asia is emerging as a key driver, with five Asian economies among the world’s top 10 sources of outward investment.”
- Steep declines occurred in Germany (down 89%), Spain, France and Italy, while North America saw a 23% spike driven by semiconductor megaprojects.
- Africa posted record growth of 75%, driven by a mega project in Egypt (12% without it, “reflecting reforms and stronger investment facilitation across the continent.”)
- “Asia remained the world’s top destination, despite a 29% drop in China. ASEAN countries stood out, with inflows up 10% to a record $225 billion.”
- “In Latin America and the Caribbean, FDI fell 12%, though new projects in Argentina, Brazil and Mexico signaled renewed investor appetite.”
|
|
|
|
|
|
|
Managing Editor Kelly Barraza last week made this photo of the Black Eagle Falls Dam in Great Falls, Montana, the first hydroelectric dam built in Montana and the first dam constructed on the Missouri River.
“Originally built in 1890 using timber and rock, the structure was updated in the mid-1920s using concrete,” she writes. “Great Falls, located in central Montana just east of the Rockies, is the third most populous city in the state after Billings and Missoula. Home to five waterfalls and several hydroelectric dams, the town of 60,000 Montanans has many names — ‘the Electric City,’ ‘the River City’ and the ‘Western Art Capital of the World.’ Every March, Great Falls hosts Western Art Week, which also includes the Russell Auction where millions of dollars’ worth of fine art are exhibited and sold. Great Falls is often cited for its rich history in Western art due to ties to C.M. Russell, the “Cowboy Artist” (1864 – 1926) who lived in Great Falls.”
Watch for more of Kelly’s reporting from Montana in the November issue of Site Selection.
|
|
|
|
