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FROM SITE SELECTION MAGAZINE, JANUARY 2024 ISSUE


CONNECTICUT

The Land of Steady Habits Rises to the Occasion

Venerable Connecticut may be more dynamic than you think it is.

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WORKFORCE 2024


OVERVIEW

The 10 Biggest Workforce Challenges Facing America Today

Ron Starner leads off this year’s Workforce 2024 publication with the results of a survey of leaders in economics, workforce development, site selection and economic development.

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SITE SELECTION SNAPSHOT


Traffic Snarled? Blame Booming Logistics Sector

The new list of the nation’s most congested trucking bottlenecks features multiple backups in top logistics states and metros.

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KANSAS — THE NEW GOLD STANDARD

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SITE SELECTION RECOMMENDS

The Riverside-San Bernardino-Ontario, California, metro area saw a nearly 3% drop in property insurance rates from 2021 to 2022.

Photo of Ontario courtesy of the City of Ontario


Trepp, the provider of data, insights and technology solutions to the structured finance, commercial real estate and banking markets that recently launched a data product called TreppCRE that gives users access to commercial property data on more than 5 million properties, last week released a closer look at the cost of property insurance. The report examined the year-over-year percent change in property insurance costs across the nation’s 50 largest markets from 2021 to 2022. Below are charts listing the locations with the highest increases and the locations with the lowest increases — including three markets where the cost has actually dropped. Overall, says Trepp, property insurance costs increased on average by 12.3% from 2021 to 2022. “Rising office vacancies also mean that office property owners must foot more of the insurance bill, with fewer tenants to pass on the insurance burdens to,” Trepp notes.

Highest YoY Average Office Operating Expense Change - Property Insurance Costs


Lowest YoY Average Office Operating Expense Change - Property Insurance Costs

PHOTO OF THE DAY

Photo by Vilmar Costa courtesy of Contemporanea Arquitetura e Interiores and v2com newswire

According to a release las week from Contemporanea Arquitetura e Interiores, HELP — Hospital de Ensino e Laboratórios de Pesquisa — “was conceived to be a reference center, capable of repositioning the city of Campina Grande as one of the main medical centers of a region that represents 34% of the Brazilian population” in the Agreste region of northeastern Brazil in the state of Paraíba. Located in a city of approximately 420,000 inhabitants, the new facility reaches more than 1.5 million people in its radius of operations, says the firm. In addition to its 400 beds, 25 operating rooms and other services, the hospital is conceived as “a center of excellence for medical training and scientific development that is linked to one of the most important and renowned medical schools in the region,” UNIFACISA. Watch for more on the links between bioscience, health care and medical schools in the March issue of Site Selection.