Job Creation

North Carolina Awards $16M Film and Entertainment Grants For Three Productions

Three film and television productions that are set to begin production in North Carolina within the next 60 days have been awarded up to over $16 million in funds from the North Carolina Film and Entertainment Grant program.

NC Film grants

Photo – filmnc.com

One is an independent feature film with the title “Three Billboards Outside Ebbing, Missouri.” Another is a three-hour filmed musical event “Dirty Dancing,” while the third one is a new television event series called “Shots Fired.”

The North Carolina economic development impact of these three projects combined includes expected direct in-state spending of more than $64.5 million, along with creation of approximately 7,600 job opportunities in the state.

Three Billboards Outside Ebbing, Missouri – This feature film is about a small town mother who confronts the local police department seeking answers about the death of her teenage daughter. Produced by UK’s Blueprint Pictures in conjunction with Film4 and Fox Searchlight Pictures, it will be based out of the state’s western region with filming taking place in Jackson and Buncombe counties, among other locations. This project is eligible for an NC Film and Entertainment Grant of up to $3,106,772.

Dirty Dancing – This is an adaption of the beloved 1987 hit romantic drama and instant movie classic, which was also shot in part in North Carolina. Produced by Lionsgate Television in association with Allison Shearmur Production, the TV event stars Academy Award-nominated actress Abigail Breslin and Emmy Award-winning actress Debra Messing and singer, dancer, and actor Colt Prattes. This project is eligible for a state grant of up to $4 million.

Shots Fired – This is a new television series that examines the dangerous aftermath of racially charged shootings in a small town. This series from 20th Century Fox Television and Imagine Television will star Sanaa Lathan and be based out of Charlotte. It is eligible for a grant amount of up to $9 million.

The NC Film and Entertainment Grant provides financial assistance to attract productions that will stimulate economic activity and create jobs in the state. Companies receive no money up front and must meet direct in-state spending requirements to qualify for grant funds.

Guy Gaster, director of the North Carolina Film Office that is housed within the Economic Development Partnership of North Carolina (EDPNC), said in a statement that “In addition to job opportunities for many of our state’s highly-skilled film professionals, these projects will also help stimulate economic activity in the communities in which they film.”

Gaster added that North Carolina continues to be a choice location for a variety of projects, and noted that the latest recipients, who will join previously awarded productions in the Wilmington and Research Triangle areas, show that this industry is indeed statewide.

Graphic Packaging to Invest $20M in Staunton, Virginia Operations

Graphic Packaging International, Inc. has announced plans for a major expansion at its recently acquired folding carton plant in Staunton, VA.

Staunton, VA Graphic Packaging

Photo – stauntonbusiness.com

Supported by the Virginia Economic Development Partnership, Shenandoah Valley Partnership and the City of Staunton, the company will invest $20 million and expects to create 43 new jobs as part of the expansion.

Graphic Packaging International, Inc. is a wholly-owned subsidiary of the Atlanta, GA-based Graphic Packaging Holding Company (NYSE: GPK). The Company is a leading provider of packaging solutions for a wide variety of products, and one of the largest producers of folding cartons.

Acquisition of a home-grown regional competitor by a Fortune 1000 company located elsewhere would typically mean downsizing, loss of jobs, or even a complete relocation of operations. But in this case, Graphic Packaging is doubling down on its acquisition of Staunton, VA-based Carded Graphics, LLC. The packaging industry giant’s plans for expanding in the region will likely result in many more Staunton economic development wins.

Staunton Mayor Carolyn Dull noted in a statement that “Staunton’s new relationship with Graphic Packaging International – a global company well-established in North America, Europe, South America and Australia – will open the doors to people and suppliers from around the world.”

Last year in October, Graphic Packaging International, Inc. announced the acquisition of the converting assets of Carded Graphics. The latter has a long history of success in Staunton since 1996, and has established a strong regional position in the food, craft beer and other consumer product markets.

Michael Doss, President and CEO of Graphic Packaging International, Inc., said in a release that the Staunton folding carton plant is strategically important for Graphic Packaging to execute their business plan. “We selected Staunton for our expansion after a thorough assessment, and we thank the leaders and citizens of Virginia and the City of Staunton for their continued partnership,” said Doss.

The project was secured through the efforts of VEDP, working in partnership with the City of Staunton and the Shenandoah Valley Partnership. Governor Terry McAuliffe approved a $250,000 grant from the Commonwealth’s Opportunity Fund to assist Staunton with the project.

Gov. McAuliffe said in the release that “The advanced manufacturing sector continues to gain momentum in the Commonwealth, and we are proud that Graphic Packaging International is a leader in this key industry and investing in the future of its operation in the City of Staunton.”

The company is also eligible to receive state incentives through the Virginia Enterprise Zone Program, and will furthermore receive funding and services for employee training activities through the Virginia Jobs Investment Program.

Law Firm Hogan Lovells Selects Louisville, Kentucky For Global Services Center

Global law firm Hogan Lovells has announced the selection of Louisville, KY for a new global business services center to provide support for their Americas offices.

Hogan Lovells DC offices

Hogan Lovells DC offices (photo – future.agenda/flickr)

This will be the firm’s second global business services center, and their first one in the United States. It will provide U.S. time zone support and also connect to services delivered through the firm’s other global business services center in Johannesburg, South Africa.

Scott Green, Hogan Lovells’ Global Chief Operating and Financial Officer, said in a statement that “The center in Louisville will work closely with its counterpart in Johannesburg to create an extended working day, helping us gain the benefits of the global nature of the firm.”

Supported by up to $4 million in Kentucky economic development tax incentives, the law firm is making a $8.9 million investment into the project, and expects to create 250 new high-quality jobs for Louisville.

Hogan Lovells was formed in May 2010 as a result of the merger of U.S.-based law firm Hogan & Hartson and European firm Lovells. The merged business, co-headquartered in Washington, DC and London, is now considered to be among the top 10 international legal practices in the world, operating from 49 offices in 25 countries, employing more than 2,500 lawyers and 5,000 people in total. Hogan Lovells generated annual revenues of $1.82 billion last year, with the Americas representing approximately 50 percent of total billings.

Governor Matt Bevin noted that “As one of the world’s most influential law firms, Hogan Lovells’ decision to locate a business services office in Kentucky is a testament to the quality of our workforce and the desirability of our location.”

Louisville Mayor Greg Fischer likewise said that “As an international law firm, Hogan Lovells’ investment further enhances Louisville’s presence in the global economy.”

Cole Finegan, Hogan Lovells’ Regional Managing Partner for the Americas, explained that they chose Louisville as it has an excellent supply of talented people, is well placed in terms of time zones and offers good opportunities for cost savings when compared to Washington, DC and a number of our other existing office locations.

In order to secure the project, the Kentucky Economic Development Finance Authority (KEDFA) has preliminarily approved up to $4 million in tax incentives for Hogan Lovells through the Kentucky Business Investment program. The firm is also eligible to receive resources from the Kentucky Skills Network.

Deana Karem, Greater Louisville Inc. vice president of economic development, said that Hogan Lovells’ choice to locate in Louisville is a testament to the success of regional partnerships. GLI is the regional economic development organization serving Greater Louisville.

ITA Report Attributes 12 Million Direct and Indirect Jobs to FDI

A new report prepared by the International Trade Administration’s Office of Trade and Economic Analysis details the impact of foreign direct investment on job creation.

US jobs from FDI

Photo – trade.gov

The report, titled, “Jobs Attributable to Foreign Direct Investment in the United States,” attributes 12 million jobs (8.5 percent of the total U.S. labor force) to FDI.

In a statement announcing the report’s release, U.S. Under Secretary of Commerce for International Trade Stefan M. Selig noted that this landmark study is the first of its kind to estimate the larger impact that attracting foreign investment into the United States has on the economy.

“This report reinforces the critical role that attracting foreign direct investment into the United States plays in the lives of U.S. workers, and supports President Obama’s commitment to expand FDI through the SelectUSA initiative,” said Under Secretary Selig.

The report, building on BEA data and applying the United States Applied General Equilibrium (USAGE) model, examines two channels through which indirect jobs are attributable to FDI.

First, the report authors attribute 2.4 million indirect jobs to the economic activity generated by FDI in the United States, including jobs in supply and distribution chains related to foreign-owned enterprises and the jobs stimulated by increased incomes.

Secondly, they attribute 3.5 million jobs to productivity growth in manufacturing associated with FDI. These jobs include the economic development benefits resulting from technology spillovers, such as when a U.S. firm hires an executive from a foreign company, and the executive implements new processes from a previous employer that improves productivity.

These 5.9 million indirect jobs, coupled with the 6.1 million direct jobs employed by U.S. affiliates of majority foreign-owned companies in 2013 (the most recent year for which data is available), add up to a total of 12 million jobs that rely on FDI.

“This report reinforces the significance of FDI in U.S. economy and highlights that for every direct job attributable to FDI an additional job is indirectly attributable,” added Selig.

Felicia Pullam, Director of Outreach for SelectUSA, likewise said in a blog post on ITA’s trade.gov website that this result shows clearly that FDI continues to be important to the U.S. economy. Pullam added that the United States is home to more foreign investment than any other country, and there are still opportunities to attract more.

“The SelectUSA program, also housed within ITA, offers services to foreign companies and U.S. economic development organizations to facilitate this investment,” said Pullam.

Read the full ITA report on Jobs Attributable to FDI in the United States.

FedDev Ontario Economic Development Funding Helps gShift Labs Expand and Create Jobs in Canada

Navdeep Bains, Canada’s Minister of Innovation, Science and Economic Development, announced an investment by FedDev Ontario in gShift Labs, a technology company that has web analytics software to help businesses create, publish, track and report on digital content.

gShift Labs

gShift Labs (photo – gshiftlabs.com)

Supported by $440,000 in FedDev Ontario economic development funding, the global provider of web presence analytics will be able to develop its innovative software and bring it to market, hire software developers, and focus on further expanding into global markets.

FedDev Ontario is the Federal Economic Development Agency for Southern Ontario. This latest funding for gShift Labs is being provided through the agency’s Investing in Business Innovation initiative aimed at strengthening the innovation ecosystem in southern Ontario by supporting new entrepreneurs, early-stage businesses and angel investors.

This $440,000 adds to the $500,000 the company has previously been awarded under the same program in 2011, and will also be able to leverage up to $1.2 million in private financing from existing investors including GrowthWorks Capital, Brightspark Ventures and the company’s co-founders. As a result of this expansion, gShift expects to create 21 new jobs and maintain 19 jobs.

Barrie, Ontario-based gShift Labs Inc. was founded in 2009 by Krista LaRiviere and Chris Adams. The company’s Web Presence Analytics platform now monitors, reports on and provides insights and intelligence for over 10,000 brands in 22 countries.

Minister Bains, who is also the Minister responsible for the Federal Economic Development Agency for Southern Ontario, said in a statement that companies like gShift are rethinking how we use technology to manage and improve our lives and our businesses. “Through support from FedDev Ontario, the Government of Canada is helping to support small- and medium-sized businesses increase sales, expand into global markets, and fulfill their potential,” added Minister Bains.

Krista LaRiviere, Co-founder and CEO, gShift Labs Inc., said that “With this financial support from FedDev Ontario, gShift is able to continue to engineer its world-class digital marketing platform and further execute on its go-to marketing strategy.”

LaRiviere added that their Barrie-based team will expand to include developers, sales and marketing specialists and customer service representatives to meet customer demand around the globe.

Earlier this month, gShift announced that it has been selected to join the Canadian Technology Accelerator (CTA) program in New York City. The CTA NYC Digital Tech Program was started in 2012 by the Canadian Consulate General as a way to provide Canadian digital technology media companies with resources to fast-track growth.

Selected companies receive the use of office space in NYC, as well as mentoring sessions, pitch training, and business contacts, to further accelerate their growth and development. gShift was selected into this program for demonstrating high potential and relevance in the NYC market.

Henderson County, NC Economic Development Incentives Secure GF Linamar Project

Ontario, Canada-based Linamar Corporation (TSX:LNR) and Switzerland-based GF Automotive, a division of Georg Fischer AG (SIX:FI-N), have announced the selection of Henderson County, NC as the site for GF Linamar LLC’s new jointly-owned aluminum die casting plant.

Henderson County, NC

Henderson County, NC (photo – Todd McDougal/wikimedia)

The two companies have created the new joint entity named GF Linamar LLC to provide large light metal high-pressure die castings for powertrain, driveline, and structural components to the NAFTA automotive market.

Supported by state and Henderson economic development incentives, GF Linamar LLC will invest $217 million in a new facility in the Town of Mills River in two phases over the next seven years. The site in question is located in Ferncliff Park, strategically located on the I-26 corridor in Western North Carolina’s employment center.

GF Linamar expects to create 350 jobs in Henderson County during the coming five years. These will be jobs with an average annual wage of $47,738, well above the current Henderson County average of $34,256. The new jobs being created will generate $16.7 million in new annual payroll.

Linda Hasenfratz, CEO of Linamar, said in a statement that “This will be our fourth plant in North Carolina, an area where we have thrived thanks to a fantastic workforce and a great business environment.”

Linamar opened its first NC manufacturing plant in Buncombe County in 2012, and announced a $115 million expansion there after just two years. Linamar also operates a forging facility in Wilson, NC.

Yves Serra, CEO of GF, added that “We appreciate very much the warm welcome and the support from the state of North Carolina and the Henderson County authorities.”

Governor Pat McCrory praised the collaboration among numerous economic development organizations, partners and allies that led to North Carolina’s selection for the project. “Landing global manufacturers takes a team effort. It’s not an individual competition,” said Gov. McCrory.

The NC Commerce Dept. and the Economic Development Partnership of North Carolina (EDPNC) worked on this project with Henderson County, the Henderson County Partnership for Economic Development, Town of Mills River, Duke Energy, and Golden Leaf Foundation, among others.

The project was secured with a package of state and local incentives that include an NC Job Development Investment Grant (JDIG) of up to $4.2 million that will be paid in annual installments over 12 years as the company meets its incremental job creation and investment targets. As per state law, the JDIG award could provide as much as $1.4 million in additional funds for the state’s Utility Account to help finance economic infrastructure in less populated counties.

State support for the GF Linamar project also includes a performance-based grant of up to $500,000 from the One North Carolina fund, which provides financial assistance through local governments to attract business projects that will stimulate economic activity and create new jobs in the state.

Henderson County is likewise providing nearly $6.95 million in tax incentives for the GF Linamar project. Adam Shealy, Chair of the Henderson County Partnership for Economic Development Board of Directors, said in a statement that “GF Linamar’s decision to locate in Henderson County further reinforces the fact that leading global companies view Henderson County as a desirable employment destination.”

Tommy Thompson, chairman of the Henderson County Board of Commissioners, added that “The investment, wages and the potential to support and partner with our existing industries is incredibly exciting for our community and for the continued strength of our local economy.”

Linamar has more than 19,500 employees in 48 manufacturing locations, 5 R&D centers and 15 sales offices in 14 countries in North and South America, Europe and Asia. Georg Fischer is present in 31 countries with 126 companies, 47 of them production facilities, and has a total workforce of approximately 14,100 employees.

Iowa Economic Development Authority Approves Incentives For Projects Creating, Retaining 844 Jobs

At its latest meeting, the Iowa Economic Development Authority board awarded direct financial assistance and tax benefits to six companies for projects that will create a combined total of 169 new jobs, result in the retention of another 675 jobs, and generate over $53 million in new capital investment for Iowa.

DOWDuPont

DOWDuPont (photo -growjohnston.com)

The biggest project of this lot is DuPont Pioneer’s Global Business Center in Johnston, IA. Following the announcement by DuPont and The Dow Chemical Company of the selection of a site in Johnston, IA for one of the two Global Business Centers of the DowDuPont Agriculture Company.

The newly created agriculture company will retain 250 to 500 employees at a qualifying wage of $26.72 at its Johnston location, along with a capital investment of at least $500,000. In order to secure this project, the Iowa Economic Development Authority and the Johnston City Council took swift action to approve financial assistance awards.

The company was awarded direct financial assistance of up to $2 million, and the IEDA board has also approved research activities tax credits for this project via the High Quality Jobs Program (HQJP).

IEDA Director Debi Durham said in a release that the board action on DuPont Pioneer’s Global Business Center in Johnston “not only secures this excellent corporate citizen’s presence in our state, but also retains knowledge workers that support countless jobs downstream.”

For its part, the Johnston City Council has already approved a resolution supporting the IEDA action, and a local match of up to $1,000,000 in property tax rebates over a five-year period for what was then known only as a Johnston economic development project called “Project Oak.” The Polk County Board of Supervisors may also be considering action soon to provide financial assistance for the project.

Apart from DuPont Pioneer, the IEDA Board has also approved state assistance for the following projects:

Businessolver.com – The company is expanding its operations in West Des Moines with a capital investment of $4.4 million. The board awarded the company $100,000 in direct financial assistance, as well as tax benefits through HQJP to help Businesssolver.com create 40 jobs at a qualifying hourly wage of $26.72.

HNI – The second largest manufacturer of office furniture and the largest manufacturer of fireplaces and stoves in the world, HNI is investing $17.8 million for modernizing its facility in Muscatine, IA. The project, which is expected to retain 175 jobs at $17.60 per hour, was awarded HQJP tax benefits.

Jack Henry & Associates, Inc. – This technology solutions and payment processing services provider for the financial services industry, is making a $580,000 capital investment for relocating their Des Moines office to a larger facility, remodeling their offices in Cedar Falls and Des Moines, and purchasing equipment to accommodate growth. This project, which is expected to create 50 jobs at a qualifying wage of $26.72 per hour, was awarded $200,000 in direct financial assistance as well as HQJP tax benefits.

RMA Armament, Inc. – This composite manufacturing company specializing in body armor applications plans to invest $501,000 to relocate to the former National Guard Armory in Centerville, IA and expand manufacturing capabilities. This project, which is expected to create 20 jobs at a qualifying hourly wage of $14.42, was awarded $34,000 in direct financial assistance as well as HQJP tax benefits.

Vogel Paint – This manufacturer of industrial powder and liquid coatings is making a $29.9 million capital investment that includes an 86,000-square-foot expansion of its powder coatings manufacturing facility in Orange City, IA. This project, which is expected to create 49 jobs, was awarded HQJP tax benefits.

Augusta, GA Economic Development Incentives and Financing Secure Textron Expansion

Textron Specialized Vehicles has announced plans for a $40 million expansion of their operations in Augusta, GA with the addition of a second new facility and 400 new jobs.

Textron Specialized Vehicles expansion in Augusta, GA

Photo – augustaeda.org

Supported by a state of Georgia grant, job training assistance and Augusta economic development financing, the company plans to acquire the former Procter & Gamble manufacturing facility in Augusta, expanding their campus by 235 acres, and adding more than 600,000 square feet.

The new facility is located just a mile from Textron Specialized Vehicles’ existing headquarters and manufacturing facility. Textron Specialized Vehicles designs and manufactures more than 90 consumer and commercial vehicle models, most of which are manufactured in Augusta. The company currently employs more than 1,000 people in Georgia.

Governor Nathan Deal said in a release that “Our commitment to job creation and economic development is evident in the number of companies who’ve expanded or relocated here. We welcome Textron Specialized Vehicles’ continued growth and feel that Georgia’s economic environment will be of major benefit to the growing company.”

Kevin Holleran, president of Textron Specialized Vehicles, added that “We are fortunate to be able to facilitate such expansion in our hometown, and are thankful for the assistance of the Augusta Economic Development Authority, the Georgia Department of Economic Development and our city and state officials to bring this project to fruition.”

The Georgia Department of Economic Development (GDEcD) is providing $600,000 as a Project Development Grant to Textron Specialized Vehicles, and more than $1.6 million in job-training assistance through the Georgia Quick Start program.

GDEcD Commissioner Chris Carr noted that of the 329 projects located in Georgia during FY15, existing industry accounted for 75 percent of total investment to the state and 63 percent of total jobs created. “As you can see, this sector drives Georgia’s economy, and we appreciate companies, like Textron Specialized Vehicles,’ commitment to our state,” added Commissioner Carr.

The company’s acquisition of the former P&G facility will be facilitated through the issuance of $20 million in revenue bonds issued by the Augusta Economic Development Authority. This revenue bond financing is expected to cover the purchase price of the facility as well as capital improvements needed to prepare the facility for vehicle manufacturing.

Walter Sprouse, executive director of the Augusta Economic Development Authority, added that “The Augusta Economic Development Authority was excited to be a part in the organization’s expansion decision, and to assist, as always, with the creation of new jobs in the Augusta area.”

Whirlpool Expanding Again in Ohio With $40.6M Investment and 50 New Jobs in Findlay

Whirlpool Corporation has announced plans for a $40.6 million investment for an expansion of its dishwasher manufacturing facility in Findlay, OH.

Whirlpool

Whirlpool (photo – Wfords378/wikimedia)

Subject to approval of state of Ohio and Findlay economic development incentives, the expansion scheduled to break ground in the spring will add 86,400 square feet to the facility for additional assembly capacity and material space.

This latest investment will result in the addition of approximately 50 new jobs at the Findlay dishwasher plant, which assembles dishwashers for the company’s portfolio of brands, including Whirlpool, Maytag, KitchenAid and Jenn-Air.

The expansion project also adds to Whirlpool’s considerable $1 billion U.S. manufacturing investment in new facilities and plant upgrades since 2010.

This includes a $40 million expansion of the company’s Greenville, OH manufacturing plant that is expected to add 400 new jobs by 2018. Whirlpool’s other recent investments in Ohio include a $200 million investment in the company’s Clyde laundry facilities as well as moving commercial front-load washing machine production from Monterrey, Mexico, to Clyde in 2014 that brought nearly 100 jobs to Ohio.

Jim Keppler, vice president of the company’s Integrated Supply Chain and Quality organization, said in a release that they are proud to employ more U.S. appliance manufacturing employees than any other U.S.-based appliance manufacturer, and this investment is consistent with Whirlpool’s leadership position in the industry.

There’s also the recent announcement of the $18 million Findlay Wind Farm project in which Whirlpool is utilizing two of five wind turbines, and expects to offset an estimated 22 percent of the Whirlpool Findlay plant’s electric consumption with clean, renewable wind energy producing zero greenhouse gas emissions.

Although the wind farm is financed by One Energy, Whirlpool Corporation has committed to create one $5,000 Megawatt Scholarship per turbine, to be awarded each year the turbine is in operation.

Referring to this latest $40.6 million investment, Dale Laws, plant leader at the Findlay facility, noted that this project is the result of their outstanding partnership with the state of Ohio, JobsOhio and local officials, who played a critical role in securing this project for the plant.

Lead Ohio economic development non-profit organization JobsOhio’s Managing Director Kristi Tanner said in the release “Today’s announcement of 50 new jobs at Whirlpool Corporation’s Findlay plant is exciting news for the state of Ohio, where this global manufacturing leader employs more 10,000 workers at six different facilities.”

Benton Harbor, MI-based Whirlpool Corporation (NYSE: WHR) is the top appliance manufacturer in the world following the acquisition of Maytag Corp, and is a Fortune 500 company with approximately $21 billion in annual sales, 97,000 employees and 70 manufacturing and technology research centers around the world.

Cortex Innovation Community Attracts AAI-CML Headquarters For St. Louis, MO

AAIPharma Services Corp. / Cambridge Major Laboratories, Inc. (AAI/CML), has announced plans to relocate its St. Louis, MO headquarters and analytical testing facility to the Cortex Innovation Center.

AAI/CML

AAI/CML (photo – aaipharma.com)

Supported by a package of Missouri economic development incentives and assistance from the Missouri Partnership and Cortex Innovation Community, the company plans to invest at least $10.7 million to move from its south St. Louis County location to the new Cortex building where it will occupy 37,500 square feet.

The expansion will enable the company to create 30 new jobs in the next five years. Their current St. Louis facility already employs about 80 full-time staff, so the total employment at the new Cortex site will be about 110.

Stephan Kutzer, CEO, president and chairman of AAI/CML, said in a statement that they are very excited to be working with Cortex and the Governor’s office to provide jobs for the greater St. Louis area.

AAIPharma Services Corp. joined with Cambridge Major Laboratories, Inc. in 2013, and now has nearly 1,000 employees across seven locations in the U.S. and Europe as a leading provider of custom manufacturing and development services for the pharmaceutical and biotechnology industries.

Its analytical testing business is comprised of three centers of excellence in St. Louis, MO; Wilmington, NC; and Edison, NJ to serve its regional, national and global customers. Following the relocation and expansion of the company’s operations in St. Louis, the additional sites in Edison, NJ and Wilmington, NC will mainly serve as testing support if appropriate.

Cortex was founded in 2002 as a collaborative project between Washington University in St. Louis, BJC Healthcare, the University of Missouri-St. Louis, Saint Louis University, and the Missouri Botanical Garden. It is now home to more than 200 software, consumer product and bioscience technology firms. This includes mature enterprises such as DuPont and Boeing, among others, as also promising early-stage startups like Aisle411, CoFactor Genomics, and Pushup Social.

Cortex’s impact on St. Louis economic development includes $350 million in investment and the creation of 2,500 technology-related jobs.

Dennis Lower, president and CEO of the Cortex Innovation Community, said that they are excited to partner with AAIPharma / Cambridge Major Labs in the expansion of its pharmaceutical services business in the Midwest. “While our recent growth has come from software technology companies like Uber, Pandora and Square joining Cortex, adding a progressive leader in the bioscience space builds on another one of our core strengths,” added Lower.

Mike Downing, director of the Missouri Department of Economic Development, added that “As the Cortex Innovation Community grows, it continues to gain that much more gravity to attract further investment and job creation.”

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