Alexis Elmore reports on construction technology firm Metso’s investment in Finland; Climeworks’ direct air capture project in Iceland; Gotion’s massive EV plant in Morocco; Rio Tinto’s “BioIron” R&D facility in Australia; STMicroelectronic’s silicon carbide plant in Italy; and a new copper smelting operation in Kazakhstan.
Last week Pharmaceutical Research and Manufacturers of America (PhRMA) released a new report with detailed information about 286 vaccines in clinical development or awaiting review by the U.S. Food & Drug Administration (FDA). The report, which includes a potential first-in-class vaccine for E. coli and a potential therapeutic vaccine for Alzheimer’s disease, fills a 42-page PDF that’s hard to sort by criteria such as location and company. So we did it for you.
Was Elon Musk’s post last week about moving the SpaceX and X HQs to Texas any surprise? Not if you read Ron Starner’s 2021 story about Tesla’s HQ move to the Lone Star State. But, as noted in the story and still true today, manufacturing operations continue in California. As of yesterday, for example, the company’s Megafactory in Lathrop for making battery Megapacks was looking to fill 15 positions. Pictured in the archive photo above, the facility was formerly a J.C. Penney distribution center.
Look for full-sized, team-reported stories on Texas and California — including the latest on Musk’s series of moves — in the September issue of Site Selection.
In addition to hosting two of the nation’s 20 largest banks by assets, the state is a leading location for payment processors, insurance operations and fintech companies, among others.
Oconee County is one of South Carolina’s premier manufacturing communities. Located in the Upstate region of the state, along Interstate 85, Oconee consistently ranks as one of the top counties in SC for industry and quality of life.
Oconee is home to international leaders in the automotive, cutting tools, machinery and other advanced manufacturing sectors.
Oconee has the 6th highest percentage of employment in manufacturing and 10th highest total manufacturing employment in South Carolina.
Oconee has the 3rd lowest property tax rate in the state.
Oconee has three county-owned industrial parks totaling over 530 acres, with significant utility capacity and a new 42-acre pad-ready site.
When it comes to meeting the needs of industry, Oconee County delivers in a major way. It is no wonder we are South Carolina’s top shelf for business location!
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How does the State Department know so much about countries’ investment climates? Its map of embassies, consulates and other facilities offers one clue.
Map courtesy of U.S. Department of State
Last week the U.S. Department of State published its 2024 Investment Climate Statements — in-depth and candid profiles of more than 160 countries targeted to U.S. company leaders. Among the categories of analysis: Openness to Investment, Legal and Regulatory Systems, Protection of Real and Intellectual Property Rights, Financial Sector, State-Owned Enterprises, Responsible Business Conduct, Corruption, and Labor Policies and Practices.
The report on China? Despite being the No. 4 FDI destination in the world, FDI growth shifted from 4.5% in 2022 to -13.7% in 2023. Also, says the State Department, “Contacts and international media both reported that PRC regulators and other authorities are pressuring PRC-based economists and analysts to limit negative comments about the PRC economy. Contacts also report that raids on foreign consultancies and arrests and jailing of Chinese staff for vague infractions such as ‘conducting unapproved statistical work’ have created concerns that routine commercial due diligence and analysis may now create legal risk.” The report contains links to dozens of useful data sources and documents.
PHOTO OF THE DAY
Photo courtesy of IOC
Every Olympic Games tries to set a new standard in sustainability. The Summer Olympics that begin in Paris this week are no different. Among the investments being touted this week by the International Olympic Committee is a bridge constructed adjacent to the new Aquatics Centre that aims to “add texture to the lives of many people — particularly those living in its Saint-Denis region,” which has a low socio-economic status. “Constructed across one of the city’s busiest motorways, the bridge connects three Paris metro stations, the Stade de France and the Aquatics Centre, which will host diving, artistic swimming and water polo qualification at Paris 2024 before becoming a community facility in the aftermath of the Games,” a release this week explained.
“Both the bridge and the Aquatics Centre will be starting points for a new sustainability- and wellbeing-focused neighborhood, which is being developed for the Saint-Denis area. Laure Mériaud, president and associate architect for Ateliers 2/3/4, says the facilities and the Games represent the ‘beginning of a new adventure’ for an area of Paris that not only requires significant investment, but that also has one of the youngest populations in the whole of France.”
