Sloss Incentive's Newsletter 10th Edition

Welcome back to my bi-weekly newsletter covering recent topics, announcements, and interesting pieces in the world of credits and incentives, site selection, and economic development. I hope you enjoy it.

1. Meissner recently announced a project that will create over 1,700 new jobs in Georgia. The company plans on investing over $250 million in a new facility in Athens-Clark County with operations set to begin in 2026.?#georgia

2. In Sonoma County, California a non-profit organization has been awarded $500,000 in grants to help provide free or discounted Wi-Fi service to low-income communities. #california

3. Illinois Governor, JB Pritzker announced a public-private partnership called Innovate Illinois to help the state secure federal funding. "With the formation of Innovate Illinois, we are launching a first-of-its-kind effort to bring federal dollars to Illinois and strengthen the state's long-term economic vitality for generations to come,"?said Governor JB Pritzker. "We are uniquely positioned to leverage our innovation hubs, public and private universities, and national laboratories to provide 21st-century opportunities for our state's workers, scientists, and businesses. With this effort, Illinois will accelerate an innovation-driven economic development plan and usher in a new era of scientific and technological progress." #illinois

4. LandCal Logistics recently announced an expansion in Georgetown, Kentucky. The company plans on investing $600,000 and will create 10 new jobs. LandCal will expand its Georgetown headquarters by adding an additional 5,400 square feet to its current 5,400-square-foot space. The company moved into the current space in October 2022 and will open a Unishippers franchise to offer small parcel/logistics solutions out of the Scott County facility. #kentucky #logistics

5. The Massachusetts legislature recently drafted a bill that would provide incentives to companies that create a 4-day work week. Introduced last week by Reps. Dylan Fernandes and Josh Cutler the bill would implement a two-year tax credit program for businesses that transition at least 15 employees to a 32-hour workweek with the same pay, then report on the impact on productivity and morale. It is set to be discussed in committee hearings during this year's legislative session. #massachusetts #4dayworkweek #incentives

6. Check out Peter Zeihan and his keynote speech regarding North America's reshoring of the global supply chain. #reshore #supplychain

7. Danville and Pittsylvania have the most industrial sites that are shovel-ready than any other locality in Virginia. If you are looking for sites in the Mid-Atlantic these two areas would be worth a look-see. #virginia #shovelready #siteselection

8. Ucore recently announced a brownfield project in Alexandria, Louisiana. The site is over 80,000 square feet and will create over 100 new jobs. Louisiana is providing $15 million in incentives as part of this project and the company will invest nearly $75 million as part of this new rare earth production facility.

9. Meanwhile in New York, officials in Cayuga County are strategizing ways to attract Micron suppliers to the area. Micron in October announced plans to invest $100 billion over 20 years to build a chip plant in Onondaga County, with work expected to start in 2024. The company estimates it will create 9,000 new jobs at the facility, along with about 40,000 more jobs in supporting industries. #micron #newyork #suppliers

10. Swift Prepared Foods recently opened a new $200 million dollar facility in Columbia, Missouri. The company invested more than $200 million in the new 325,000 sq. ft. Italian meats and a charcuterie production facility. Principe Foods has already created 100 new jobs in the region, with plans to hire 100 to 200 more people over the next year.?“Missouri is a premier location for companies in the food industry,” said G. Subash Alias , CEO of Missouri Partnership. “#missouri #foodindustry

11. Better Future Farms will build a new innovative hydroponic greenhouse and processing facility on a 61-acre site in the Louisa County Industrial Air Park in Louisa, Virginia. “This project exemplifies agricultural innovation,” said Louisa County Board of Supervisors Chairman Duane Adams . “We are pleased this facility will bring new job opportunities for our residents while affirming the county’s commitment to agribusinesses as a growing and vital part of our local economy.” #hydroponics #agriculture

12. Kelley Rendziperis and Site Selection Group, LLC recently released an Economic Incentives Market Report Whitepaper which you can download here. It is worth the read.

13. Microvast Holdings, Inc. will invest $504 million to locate its first polyaramid separator plant in Hopkinsville, Kentucky. The project is intended to be the world’s first mass production facility for cutting-edge polyaramid separator technology and will create up to 562 new full-time jobs. #kentucky

14. Washington State Department of Commerce awards $2 million to encourage innovative business and manufacturing growth statewide. Six businesses and four innovation cluster organizations were awarded $200,000 each through the Evergreen Manufacturing Grant program. #washington #innovation #manufacturing

15. Jenny Massey, CRE recently wrote an article on the importance of incentives during times of high inflation. One of the key benefits is that incentives can help businesses reduce costs and improve their bottom line. For example, if a company is struggling to cover its operating expenses due to rising costs of raw materials or labor, a tax break can provide much-needed relief and allow the company to continue operating and investing in its business. #inflation #incentives

16. Alabama is currently in the process of renewing the Alabama Jobs Act and Growing Alabama Act and will increase the caps on benefits that can go to companies. In addition, they are considering publicizing any awards made under these programs as a way to increase the transparency of these programs. #alabama

17. Outside of Ann Arbor, Michigan, Scio Township recently approved a five-year tax break for a vacant industrial site that sits along I-94. Michigan Innovation Headquarters , MI-HQ, is targeting the property at 300 North Zeeb Road to host start-ups, many in the science and technology fields, as it does at its existing campus several miles away on Wagner Road. #michigan

18. North Carolina recently welcomed glass manufacturer PILKINGTON NORTH AMERICA INC and environmental company EPCO to the state. #northcarolina

19. Texarkana College and Texarkana USA Chamber Of Commerce team up to offer national career readiness certification assessments to boost regional economic development efforts. Camille Powell , Program Manager for Workforce Development with the Texarkana USA Chamber of Commerce, said individual assessments help with the Chamber’s efforts of building a WRC for our region.

“The WRC model is a community-based framework for workforce development, education, and economic development,” said Powell. “Counties are certified as “work ready” when specific goals have been met. #texarkana #texas #arkansas #economicdevelopment

That is it for this edition. A little less robust this time around but I hope you find the stories helpful. Please like, comment, and share as it really helps me out a lot. A special thank you to everyone who sent me articles to share. Make it a great week!