News briefs update us on FIFA’s possible move to the U.S. from
Switzerland; venture funding trends; Nestlé’s bamboo planting in the
Philippines; Axalta’s new site in China; and Boeing’s first uncrewed
aircraft assembly plant outside of North America in Queensland,
Australia.
Move.org dug this fall ranked the 74 most populated U.S. cities from
highest to lowest in living costs, with the 10 highest-cost
places and 10 lowest-cost places listed in the map above. Analysis did
not include median individual or household income, but did encompass how
much rent, food, gas, and utilities cost on average in every city. “For
the gas numbers in our data, we started with how much a gallon of gas
costs in each city, then factored in how many miles the average person
drives every month (1,123) and how many miles per gallon the average
passenger vehicle gets,” the organization said in a news release. The
average cost of living in America’s 74 most populous cities is $1,743,
and the median income is $33,749. Other findings:
Honolulu, Los Angeles, Miami, and Newark are the four cities where
it’s most difficult to live on either a median individual income or
a median household income.
Honolulu, Hawaii has the fifth-highest cost of living but the lowest
median income of the 10 most expensive cities.
Seven out of the 10 U.S. cities with the highest living costs are in
California.
Two metros from the Top 10 Lowest-Cost list appeared in Site Selection’s
Top Metros of 2020 for corporate facility
projects: No. 2 Cincinnati was No. 9 among our Top 10 cities with
populations over 1 million, and No. 8 Indianapolis was No. 5 in that
same large-metro category. — Adam Bruns
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The U.S. Economic Development Administration announced it received 529
applications from regions in all 50 states and five territories for
Phase 1 of the $1 billion Build Back Better Regional Challenge. The announcement included a full PDF list of
applicant organizations and their projects. Here are the top 10 states
and ties by number of applications:
Connecticut Gov. Ned Lamont announced in June that iCapital Network, a
fintech platform in alternative investing for the asset and wealth
management industries, will create 200 jobs at this new site over the
next two years. Headquartered in New York, iCapital Network also has
offices in Zurich, London, Lisbon and Hong Kong. The company has
approximately 450 employees and services $75 billion in global client
assets across more than 750 funds. The Connecticut Department of
Economic and Community Development is supporting the expansion with
“earn-as-you-grow” incentives that provide grants in arrears as job
targets are reached. “When we considered locations for the expansion of
our domestic footprint, Connecticut was the obvious choice,” said
Lawrence Calcano, chairman and CEO of iCapital Network. “I respect the
Governor’s commitment to bringing top-tier employers and good jobs to
Connecticut and supporting entrepreneurship in innovative sectors that
will drive economic growth.”
As rumors swirl about where Rivian will establish its next major
manufacturing plant, the company has continued to establish a presence
in various cities around the country, including this investment in
Houston. Among the major metro areas vying for the manufacturing
facility are Mesa, Arizona; Fort Worth, Texas; and Atlanta, Georgia. A
Reuters story in August that the $5 billion
project could create up to 7,500 jobs by 2027, with factory workers
earning a minimum average starting wage of $56,000. An in-depth story from the Atlanta Journal-Constitution
last Friday documents Georgia’s recent history of economic
development efforts to attract the state’s first major auto
manufacturing plant since Kia landed in West Point, Georgia, in 2006.
“High mountain lakes. Impressive mountain views. Wild landscapes.
Solitude. These are just some of the words used to describe the Missions
Mountain Wilderness,” says the U.S. Forest Service of this area in
Montana. Site Selection Publisher/Director Laura Lyne made this sunset
photo of the area earlier this fall. Site Selection and Conway Data wish
all of our U.S. friends a safe and happy Thanksgiving holiday.
