Just ask Pfizer, reports Alexis Elmore. It’s one of several growing companies taking advantage of competitive electrical rates offered by the McPherson Board of Public Utilities.
The Tax Foundation on November 7 published “How Do Taxes Affect Interstate Migration?” The analysis looks at the latest IRS and Census data, which show that “between 2020 and 2021, 26 states experienced a net gain in income tax filers from interstate migration — led by Florida (+128,228), Texas (+82,842), North Carolina (+40,828), Arizona (+32,636), and Tennessee (+30,292) — while 24 states and the District of Columbia experienced a net loss—led by California (-158,220), New York (-142,109), Illinois (-53,910), Massachusetts (-25,029), and Louisiana (-14,113).”
States with the highest net adjusted gross income (AGI) gains included “Florida at $39.2 billion, Texas at $10.9 billion, and several states (North Carolina, Arizona, Tennessee, South Carolina, and Nevada) at around $4 billion each. States with the highest net AGI losses included California at -$29.1 billion, New York at -$24.5 billion, Illinois at -$10.8 billion, and Massachusetts at -$4.3 billion.”
The Census Bureau reported yesterday that the number of people who moved between states rose from nearly 7.9 million people in 2021 to approximately 8.2 million people in 2022.
SITE OF THE WEEK
Inaugurating the Colombia Investment Summit: Gateway to Sustainable and Impact Growth
Cartagena, Colombia
Photo by ProColombia
The 8th edition of the event, organized by the Ministry of Trade, Industry, and Tourism with ProColombia, is underway from November 20th to 28th. This unique foreign investment event convenes over 700 participants, including 70 delegates from the United States, Colombian entrepreneurs, and strategic allied organizations.
This year, the focus spotlights the Colombian territories like the Coffee region, the Caribbean, and the Pacific, showcasing strategic sectors for economic, environmental, and social sustainability, such as agribusiness, energy, tourism, technology-based services, shipbuilding, aeronautics, life sciences, hydrogen, infrastructure and sustainable mobility.
Carmen Caballero, President of ProColombia, emphasized: “Colombia’s global investment recognition is evident. Recently winning the Sustainable Investments Promotion category at the Go Global Awards by the International Trade Council underscores our appeal. We invite investors to explore opportunities or expand their operations in our country.”
For tailored business insights and opportunities, connect with our US-based Investment Director Karen Schutt, kschutt@procolombia.co.
FROM THE ARCHIVES
Nel’s manufacturing facility in Plymouth Charter Township, Michigan, will build on the fully automated electrolyzer concept the company has developed at its production facility in Herøya, Norway (pictured), which opened in April 2022.
Photo courtesy of Nel
In 2015, as part of Adam Bruns’ “What’s in a Name?” series that chronicled corporate facility investment activity in places named Springfield, Columbus and Independence, he chose to honor the Pilgrims and the Wampanoag people who fed them by looking in on projects taking place in the Plymouths of the world in “Plymouths Rock.” The story touched on places where some 40 projects had landed in the previous three years. Since today’s date in 2015, we’ve tracked 54 more projects in places named Plymouth, including September’s news of a $400 million, 517-job electrode manufacturing “gigafactory” investment by Norway’s Nel Hydrogen in Plymouth Charter Township, Michigan.
The leading Plymouth municipality over this span is Plymouth, Minnesota, where 21 projects have landed since November 22, 2015, including a $21 million, 65-job investment by Orbital Sciences Corp. (now part of Northrop Grumman) and a $1.9 million, 54-job investment by Qorvo Biotechnologies. The exact same number of projects has occurred in Plymouth County, Massachusetts, including three landing in the same Plymouth where the Pilgrims landed. Ten projects apiece have found terra firma in Plymouth, England, and Plymouth, Indiana. And for the record, we’ve recorded projects in these past eight years from six companies with Plymouth in their names, including Oshkosh Cold Storage Plymouth, Plymouth Cold Storage and Plymouth Foam, all located in Plymouth, Wisconsin, due west of Sheboygan.
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PHOTO OF THE DAY
Cecil Stoughton. White House Photographs. John F. Kennedy Presidential Library and Museum, Boston
Today marks the 60th anniversary of the assassination of President John F. Kennedy in Dallas, Texas. This photo by Cecil Stoughton, the first official White House photographer, shows President Kennedy and Mrs. Kennedy arriving at Love Field in Dallas on November 22, 1963.
