Sloss Incentive's Newsletter 7th Edition

Welcome to the 7th Edition of my newsletter, where we cover new developments in #siteselection #economicdevelopment #creditsandincentives and related items. As always, I hope you enjoy this edition. It would help me out a ton if you could like, share and comment. Have a marvelous week!

1. Danone North America announced it will invest up to $65 million over the next two years to create a new bottle production line in Jacksonville, Florida. The expansion will create 40 new jobs. Also, interesting to note, the company provides 18 weeks of parenting leave after the birth or adoption of a child. #florida #jacksonville

2. If you work for an Economic Development Organization or are interested in improving your community's workforce, you should check out this resource from Golden Shovel. There are many workforce-specific grants that help communities grow their workforce and talent pipeline.

3. Thanks to Courtland Robinson for sharing this story. Duke Energy Corporation recently announced plans to build an electrification depot in Mount Holly, North Carolina. Duke is positioning itself to facilitate fleet electrification at a time when companies are focused on their environmental footprint. #northcarolina #energy #electrification

4. The state of Missouri is offering grants to businesses and childcare centers to help them expand their offerings. A lack of quality and affordable child care is a major challenge in many communities. Site Selectors and ED professionals should be actively working to help solve these challenges to help companies attract and retain talent in a tight labor market. #missouri #childcare #daycare

5. If you work for an EDO, does your organization utilize a CRM tool to keep track of interactions with businesses and other entities? If not, it is worth the investment to utilize one. This article talks about the importance of a CRM for EDO's. #economicdevelopmentorganization #crm

6. Not surprising to see Missouri attract so many of these projects. Not only is it centrally located but the state aggressively pursues these kinds of projects when many Midwest states don't. They also have more "tools" in the economic development toolbox than other Midwest states to help make the projects more fiscally viable. #distributioncenters

7. The “Buy America” initiative that President Biden says will promote domestic manufacturing and fuel a blue-collar renaissance is running into a problem: The United States no longer produces many of the items needed to modernize roads, bridges, and ports. #unitedstates #infrastructure

8. I have worked my fair share of sales and use tax sales agreements, especially in Texas. These kinds of agreements are common but no surprise to see them cause an issue in a state like California. The deals I worked in Texas were typically done in small communities in West Texas where the arrangments were a benefit for the entire county, rather than just one particular city. #texas #california

9. In Oregon, the Malheur County Economic Development Corporation has asked the state for $6.5 million to complete a rail shipping facility. #oregon #railroads #rail

10. The rivalry between Texas and New York is alive and well! The failure to replace the 313 program is already costing the state of Texas projects and I know losing them to New York hurts more than it normally would. When I lived in New York City, Governor Perry would come to visit and all the newspapers would obliterate him and Texas every chance they got. Meanwhile, Texas was attracting a lot of New York companies to relocate or expand in Texas. It made for an entertaining week every year.?#propertytax #abatements #newyork

11. This has been a hot topic in our industry since the pandemic started and forced almost everyone to work from home. How does WFH affect tax incentive agreements whereby companies promised to employ in-state residents but were forced or chose to fill those jobs with WFH candidates in other states? It is an interesting conundrum and one that will require some creative, out-of-the-box thinking and a reimagining of what "job creation" means. #taxbreaks

12. Itron announced that it will plan on closing its plant in Waseca, Minnesota in 2024. The company cited the need to remain competitive and increased efficiency for the closure. The company employs 200 workers and 100 contract employees. #minnesota #waseca #maufacturing

13. Are you originally from West Virginia but have moved out of the state? Do you want to move back? The state is considering offering $25,000 to attract former West Virginians back to the state. #westvirginia

14. New Jersey Governor Murphy recently unveiled his $53 billion budget which includes property tax relief and tax credits. This is one of the largest budget proposals in state history. #newjersey

15. It looks like California and Tesla are playing nicely with each other again after several years of publicly pointed criticism of the company and the state. Tesla announced that Palo Alto will be home to its engineering and AI headquarters. #tesla #engineering #ai

16. Do any of you out there utilize Home Chef for meal delivery kits? The company recently announced it will bring 500 new jobs to the Baltimore, Maryland area. The company touted Balitmore's logistic infrastructure as one of the primary drivers behind the decision. #maryland #baltimore #kroger

17. Looking for a short overview of New Mexico tax incentives? Don't worry, I got you covered. Below is an article from Gabriel Sermeno highlighting the four most common incentives in the state including the High Wage Jobs Tax Credit, Technology Jobs and R&D Tax Credit, Investment Tax Credit, and Job Training Incentive Program. I have assisted clients in capturing all these credits and can say while beneficial, some of them are a bit cumbersome and time intensive to secure. #newmexico

18. WalletHub recently announced its 2023 "Hardest Working Cities" list and you may be surprised by some of those in the top 10.

19. OhioHealth recently announced a large expansion of Grant Medical Center in downtown Columbus, Ohio. The company plans on spending over $400 million as part of the expansion. The project will be completed in 2028. #ohio #columbus

20. This is an older story but I just came across it today and wanted to share as it relates to economic development. A group of friends bought an abandoned high school in Homestead, Pennsylvania, and turned it into 31 unit apartment building. The renovation is impressive. #pennsylvania #housing

21. The IRS recently issued guidance on credits for solar and wind facilities in low-income communities. Check out 安永 's recent tax update for details. #solar #wind

22. Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Stuart McWhorter, and Dongwha Electrolyte USA Inc. officials announced today the company will establish manufacturing operations in the U.S., locating its first facility in Clarksville, Tennessee. The company will invest over $70 million and create 68 new jobs. Thanks to Shea Hopkins for sharing this. #tennessee #clarksville #montgomerycounty

23. Do you have clients actively looking for renewable energy tax exemptions? If so, check out this article that provides some additional guidance and suggestions. #taxexemption #renewableenergy

24. Scout Motors, Inc. recently announced plans for a new $2 billion dollar plant near Columbia, South Carolina. Production at the plant is expected to begin in 2026. #southcarolina #columbia #automotive

25. Chicago was named the top city for business relocations for the 10th year in a row. #illinois #chicago

26. Texas has won the Governor's Cup for the 11th year in a row. The Governor's Cup recognizes the nation’s top-performing state for job-creating business relocations and expansions.

27. The Sioux City Metropolitan Statistical Area ranked first for the fourth straight year in Site Selection magazine's annual rankings for economic development in metro areas with a population of less than 200,000. #southdakota #iowa

28. Interested in starting a microbrewery? Madras, a town in Oregon is offering some substantial incentives for anyone wanting to start a microbrewery in their town. #oregon #microbrewery

29. Nebraska is considering creating incentives specifically designed to attract data centers to the state. Having done a data center in Nebraska several years ago I hope they have improved their process for obtaining incentives. My client was so frustrated by the process they swore never to consider the state again. #nebraska #datacenter

That is it for this edition of the Sloss Incentive's Newsletter! Hope you have a great week!