Quick-hitting stories update us on Intel’s very big deal in Arizona; SIOR’s confidence gauge; a new ride to the new La Guardia Airport; Ford’s latest EV commitment in Detroit; and Ensemble/Mosaic’s huge commitment to diversity at Philadelphia Navy Yard.
Last year, we decided to do something with the Inc. 5000 that even Inc. wasn’t doing: Examine all 5,000 fast-growing firms to see which states and cities host the most. Here’s what Conway Data Director of Programming & Analytics Daniel Boyer and I found when we dug deep into the data once again this year to reveal the top 10 states by total Inc. 5000 firms and top 10 states by Inc. 5000 firms per capita (last year’s positions in parentheses).
New Jersey, which jumped into the top 10 from No. 13 last year, is one of just four Top 10 states (highlighted in bold below) with more Inc. 5000 firms this year than last year. In the per-capita calculation, Delaware and Tennessee come from way off the pace last year to place fifth and ninth, respectively. Watch next week’s newsletter for analysis by city and by sector. — Adam Bruns
Top 10 States by Total Inc. 5000 Firms
State
Inc. 5000 Firms 2021
Inc. 5000 Firms 2020
1. California (1)
685
720
2. Texas (2)
423
431
3. Florida (3)
369
376
4. Virginia (5)
309
280
5. New York (4)
273
319
6. Illinois (6)
230
240
7. Georgia (7)
209
199
8. Pennsylvania (8)
176
188
9. Colorado (9)
164
151
10. New Jersey (13)
146
132
Top 10 States, 2021 Inc. 5000 Firms Per Capita
1. Utah (1)
2. Virginia (2)
3. Colorado (3)
4. Maryland (4)
5. Delaware (20)
6. Massachusetts (6)
7. Georgia (7)
8. Illinois (8)
9. Tennessee (27)
10. California (9)
PROJECT WATCH
Nevada
As reported by the Las Vegas Review-Journal in late September, Le Mars, Iowa–based Wells, known for its Blue Bunny ice cream, Bomb Pops and other frozen treats, is one of 13 companies receiving around $45 million in collective incentives for expansions in the southern part of the state. Wells is receiving over $4.6 million in tax abatement for its expansion in Henderson, which will create 87 jobs paying an average hourly wage of $22.82, according to the report, which was based on a release from Gov. Steve Sisolak’s office.. Other companies in the group include aluminum can makers Ball Corp. and Crown Holdings, whose combined investments will be creating 348 jobs in North Las Vegas. “As we look to reskill workers whose jobs were displaced during the pandemic,” said Gov. Sisolak, “these companies are creating skilled jobs with competitive wages.”
Visa last week announced this 1,000-job new hub in Midtown Atlanta. The company is actively hiring for careers in client services, product management, software development, risk and security, finance and more. “Metro Atlanta is the global hub of the FinTech and payment processing industries as a result of years of strategic ecosystem support and the collaboration of many partners,” said Metro Atlanta Chamber President and CEO Katie Kirkpatrick. “Visa will no doubt benefit from initiatives like Fintech Atlanta, the Fintech Academy, and FinTech South as well as the diverse and industry-specific expertise of our metro Atlanta workforce.” “Atlanta brings together a wealth of expertise and talent with entrepreneurial spirit and a deep sense of community culture,” said Michelle Gethers-Clark, Visa’s chief diversity officer and head of corporate responsibility. “We are thrilled to enhance our long-term presence in Atlanta; an expansion that comes with a commitment to invest in Atlanta’s diverse talent pool by fostering the next generation of leaders through rewarding career development and growth opportunities.”
In addition to other cities, the region includes the state capital of Jefferson City, Rolla and Columbia, where the flagship University of Missouri campus is located.
Critical production demands can’t always wait on a lengthy construction project. North Carolina’s shell industrial buildings are ready now with targeted state and local incentives available to help with up-fit.
At ElectriCities, we look for opportunities to partner with our 70+ NC Public Power member cities to provide customized assistance within all aspects of economic development at no cost to you. From marketing to targeted recruiting to grant assistance, we’re here with tools and expertise. We actively work with site selectors to recruit industries and bring jobs to our public power hometowns. Our local expertise allows commercial and industrial customers like you to find just the right site with fewer hassles—and way more hospitality.
As part of the National Artificial Intelligence Initiative, the U.S. Department of Commerce this week called for nominations to the National Artificial Intelligence Advisory Committee (NAIAC). The request came just days after the Brookings Institution published “The Geography of AI,” which identifies existing and potential AI centers (map above), including the 21 centers that benefit from strong federal funding in universities:
Map and table courtesy of Brookings Institution
PHOTO OF THE DAY
Site Selection Publisher and Director Laura Lyne found a black bear sow and two cinnamon cubs on her property in Montana last week, attracted by some lingering blueberries.
