Professor Ned Hill of The Ohio State University documents how employers are responding to Ohio’s cost-of-living advantage and boosting regional economies in the process.
The Reshoring Initiative led by Harry Moser this month released its latest analysis of combined reshoring and foreign direct investment job announcements, reporting that in 2023 the two sources accounted for 287,000 new jobs, with North Carolina, Kentucky and South Carolina leading the way. “EV batteries, semiconductor chips and solar — all essential goods supported by U.S. industrial policies — account for 39% of the job announcements,” the organization said in a press release. The surge continues a trend documented by Moser in his November 2022 contribution to Site Selection.
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Kentucky bourbon alone is a $9 billion industry.
Photo courtesy of Kentucky Distillers Association
The choice to not consume alcoholic drinks has led to a surge in new non-alcoholic products (as Ron Starner recently documented in Oregon). But nobody’s spiriting away the spirits-based economy. A new report from Oxford Economics on behalf of the World Spirits Alliance undertook what Oxford called “the first ever truly global economic impact assessment of the production and sale of spirits across 185 economies in 2022,” finding that global sales (excluding VAT) amounted to $650 billion that year. The report finds that $1 in every $140 of global GDP in 2022 was accounted for by production and sales of spirits. “Furthermore, this economic activity is estimated to have stimulated 36 million jobs and $390 billion in tax revenue for governments across the world.”
PHOTO OF THE DAY
Photo by Atelier-Sizhou courtesy of v2com newswire
As we inch toward the 2024 Summer Olympic Games in Paris, venues from other major sports gatherings continue to earn accolades. Earlier this month, the $6 million Dong‘an Lake Sports Park Bridge for the Chengdu FISU World University Games, designed by Atelier-Sizhou, was the Jury winner in the Transportation Infrastructure category of the 2024 12th Architizer A+Awards. The park is located in Dong’an New Town, Longquanyi, in the core “Eastward” area of Chengdu in Sichuan Province.
FISU President Oleg Matytsin said of the event’s hosting in Chengdu after a pandemic-induced postponement, “Twenty percent of the world’s university students are in China, and the national university sports federation has a clear and proven capability of holding student sports events of the very highest quality, even at relatively short notice.” The biennial event next year will take place in the Rhine-Ruhr region of Germany.
