Job Creation

DC Considers Economic Development Bill to Retain The Advisory Board Co HQ

The D.C. Council is set to take up new legislation next week that will enable Washington, DC to retain the headquarters of The Advisory Board Company. The District will also benefit from the company’s growth plans, which includes the creation of 1,000 new jobs.

Rendering of 655 New York Avenue development in DC

655 New York Avenue development in DC (rendering – douglasdevelopment.com)

The Washington DC economic development bill, called the “Local Jobs Tax Incentive Act of 2015,” provides a performance-based property tax abatement of up to $6 million per year to The Advisory Board Company for 10 years, adding up to tax incentives of $60 million.

For its part, The Advisory Board Company will agree to remain in the District and hire 1,000 net new DC residents between the time of lease execution and the end of the incentive period in 2030.

The Advisory Board Company (NASDAQ: ABCO) is a research, technology, and consulting firm with 3,400 employees that collaborates with more than 230,000 leaders at 5,200 health care and education member organizations, and is DC’s largest technology company.

The company will be relocating its headquarters to the 655 New York Avenue development. This is a 756,000-square-foot project by Douglas Development which combines existing historic buildings with a sleek new modern mid-rise glass building to offer office and retail space. In fact, they had to move an entire historic building as is in order to preserve it within the new design for the 655 New York Avenue project.

The triangle-shaped block occupies prime real estate near Mt. Vernon Square, adjacent to the Washington Convention Center. The Advisory Board Company is signing a 16-year lease and will be the project’s anchor tenant.

In a release unveiling the economic development legislation to support the company’s headquarters relocation, Mayor Muriel Bowser said that “Keeping an influential company like The Advisory Board Company in Washington, DC is a testament to the attractiveness of our market, our competitive strength, and our laser focus to hire District residents and keep jobs right here in DC.”

Even after factoring in the $60 million in tax incentives, the District expects to receive over $300 million in total net tax revenue over 10 years ($5 in tax revenue for every $1 of incentive). DC secured this project over competition from several other Washington DC metropolitan area governments.

The Advisory Board Company CEO Robert Musslewhite said in the release that “We are grateful for the Mayor’s efforts to make DC a compelling place for technology companies to grow and thrive, and for her work to ensure that we remain a part of this community.”

Apart from the economic impact of DC’s retention of the headquarters and the 1,000 new jobs being created, the project also offers other economic and community development benefits for the District.

Visits by the company’s members bring a large amount of visitor revenue for hotels, restaurants and other tourism businesses in the District. Furthermore, thirty-five percent of tenant improvement construction costs of the new space will go to Certified Business Enterprises.

Advisory Board Company has also signed a strong Community Benefits Agreement under which they will provide training for 250 District residents, and ensure employment for 25 DC Department of Employment Services clients or L.E.A.P. Academy (Learn Earn Advance Prosper) graduates.

Macon Economic Development Lands Boeing 747 Fuselage Panel Project

Boeing has announced that, starting in 2018, it will build 747 fuselage panels at an existing defense-related facility in the Airport Industrial Park in Macon-Bibb County, GA.

Macon EDC

Photo – maconworks.com

The Macon site, which Boeing will be taking over from Triumph Aerostructures’ Vought Aircraft Division, will provide assembled fuselage panels to Boeing’s 747 final assembly line in Everett, WA.

Supported by the Georgia Department of Economic Development (GDEcD), the Macon Economic Development Commission, and the Macon-Bibb County Industrial Authority, Boeing will invest $81.7 million into this project, and expects to create up to 200 new jobs.

Georgia Governor Nathan Deal said in a release that “Boeing’s choice to manufacture these vital pieces of equipment at their Macon-Bibb County facility is further indication that Georgia is home to a highly-skilled workforce and a world-class infrastructure.”

Macon will become the twelfth manufacturing site for the Boeing Commercial Airplanes Fabrication unit. Boeing and Triumph Aerostructures have been working together for many months to ensure a smooth transition of this 220,000-square-foot facility from defense work into the 747 supply chain.

Improvements being made at the facility include building and existing equipment upgrades, and the installation of new equipment. A new advanced manufacturing production system will reduce the time to produce fuselage panels while also increasing quality and enhancing employee safety.

Boeing’s investment into the facility is good news for Macon-Bibb and Middle Georgia not just because of the new jobs being created, but also because of how it positions the plant to secure more work related to Boeing commercial airplanes, and strengthens the region’s aerospace manufacturing and maintenance industry.

Kent Fisher, vice president and general manager of Supplier Management, Boeing Commercial Airplanes, said in the release that “While our initial focus is on production of fuselage panels for the 747, the Macon facility provides us a high-quality alternative for structures work currently outsourced to other suppliers. It’s also an attractive option for developing new airplanes.”

Macon-Bibb Mayor Robert A. B. Reichert said he wants to thank the Governor’s Office, the Georgia Department of Economic Development, and the Macon Economic Development Commission for their partnership with the Industrial Authority to make this happen.

Macon Economic Development Commission Chairman Leonard Bevill said they are pleased to see the 25 plus year relationship between The Boeing Company and Macon-Bibb and Middle Georgia continue.

Macon Bibb County Industrial Board Chairman Cliffard Whitby added that the Industrial Authority is honored to spearhead local efforts in support of Boeing’s repurposing of the existing Macon-Bibb County facility.

GDEcD Commissioner Chris Carr said in the release that this exciting new commercial opportunity at Boeing’s Macon-Bibb County facility is the result of progressive and persistent teamwork between the public and private sector.

Mercedes-Benz to Invest $1.3B For Expansion in Tuscaloosa County, Alabama

Following a meeting of the Tuscaloosa County Industrial Development Authority at the Mercedes-Benz U.S. International (MBUSI) plant in Vance, AL, the company announced plans for a $1.3 billion expansion of its operations in Tuscaloosa County.

Mercedes-Benz U.S. International Plant in Tuscaloosa County, AL

Mercedes-Benz U.S. International Plant in Tuscaloosa County, AL (photo – Carol M. Highsmith/Library of Congress)

The investment will prepare the plant for the production launch of its next-generation sport utility vehicles. According to the Economic Development Partnership of Alabama (EDPA), Mercedes will add a 1.3-million square-foot body shop where its most technologically advanced SUVs will be assembled.

MBUSI expects to create 300 new jobs as part of the expansion. The MBUSI Vance plant already has a workforce of around 3,500. The company’s investment at the campus now totals around $5.8 billion through multiple expansions, starting with the $300 million plant announcement made in 1993, and including this latest $1.3 billion.

In a release announcing the investment, Governor Robert Bentley, who attended the TCIDA meeting, said that “It’s great to be in Tuscaloosa to announce that Mercedes will invest another $1.3 billion and create 300 new jobs in Alabama.”

The TCIDA has approved tax abatements for the project that will save the company approximately $80 million over a 20-year period.

Greg Canfield, secretary of the Alabama Department of Commerce, added that “Over the past 20 years, Alabama has developed a productive partnership with Mercedes, and the company’s Alabama workforce has proven its capabilities through repeated expansions and model launches.”

In Sept 1993, after an extensive site selection process, Daimler AG chose Tuscaloosa County as the location for its first passenger vehicle manufacturing facility in the United States. Mercedes-Benz U.S. International, Inc. (MBUSI) was established to produce the M-Class Sport Utility Vehicle in Vance.

Production began in January 1997, and the 3.7 million-square-foot plant last year produced 232,000 vehicles and hit a milestone of two million vehicles. MBUSI has raised its production target this year to 300,000 vehicles.The vehicle models produced by MBUSI in Vance include the Mercedes-Benz GLE SUV, GL SUV, the C-Class for the North American market and the brand new GLE Coupe SUV.

The impact of MBUSI on Tuscaloosa and Alabama economic development extends far beyond the Vance plant’s own operations and its payroll. MBUSI supports more than 22,000 direct and indirect jobs in the region, and has an annual economic impact of more than $1.5 billion.

Roughly two-thirds of the components used in MBUSI-built vehicles are provided by North American suppliers, and more than 30 first- and second-tier suppliers are now located in Alabama.

Last month alone, Mercedes-Benz suppliers Kamtek and SMP announced major investments in Alabama. Kamtek is investing $530 million at its Birmingham manufacturing facility and will add 350 jobs, while SMP announced plans for a $115 million plant in Tuscaloosa County with 650 new jobs.

Michigan Governor’s Economic Development Trip Secures Daimler Headquarters Relocation

Daimler North America Corporation, the holding company for all of the company’s business units in the United States, is relocating its headquarters from New Jersey to Michigan.

Daimler Headquarters

Daimler Headquarters (photo – Enslin/wikipedia)

The announcement comes from Frankfurt, Germany, where Gov. Rick Snyder met with Daimler executives at the 66th Frankfurt Auto Show. The Governor is leading a Michigan economic development mission to Japan and Germany.

In a release announcing the relocation from Frankfurt, Gov. Snyder said that the headquarters relocation will bring 30 jobs to Michigan in central office functions including treasury, legal, accounting and executive staff.

“Michigan is the world’s automotive leader, and Daimler’s decision to increase its presence in state is another indication that we intend to hold that position for generations to come,” said Gov. Snyder.

Daimler already has its Mercedes-Benz Financial Services headquarters in Farmington Hills, and the Daimler North America Corporation jobs and headquarters operations being relocated from New Jersey will likely be located in Farmington Hills too.

Daimler also has its Detroit Diesel operations in Redford Township, MI, in addition to the Mercedes-Benz Research and Development operations in Redford and Ann Arbor. Earlier this year, Mercedes-Benz USA announced plans to relocate its corporate headquarters from Montvale, NJ to Atlanta, GA. That relocation is bringing around 1,000 MBUSA jobs to Atlanta. Last year, Daimler Trucks North America (DTNA) broke ground on its new headquarters building on Swan Island in Portland, OR.

The company’s history dates back to the 1880s, when Daimler and Benz were founded as separate companies. Daimler-Benz AG was formally established in 1926 through their merger. DaimlerChrysler AG was created in 1998 as a result of the $38 billion merger of Daimler-Benz and Chrysler Corporation. DaimlerChrysler AG was renamed to Daimler AG after the sale of Chrysler to Cerberus Capital Management in 2007.

Stuttgart, Germany-based Daimler Group is still one of the biggest producers of premium cars and the world’s biggest manufacturer of commercial vehicles, and employed a workforce of 279,972 people. Last year, the Group sold more than 2.5 million vehicles and generated revenue totaling €129.9 billion.

Apart from the Daimler headquarters relocation announcement, Gov. Snyder also met at the Frankfurt Auto Show with executives of 60 auto supplier companies that have their American headquarters in Michigan. The Governor also announced the opening of a Michigan Europe Center to promote export development and trade with European markets.

The Michigan Europe Center, with offices in Berlin and London, will assist Michigan companies with research, market entry strategy, matchmaking, regulatory issues and trade mission meeting programs.

Chicago Secures Motorola Solutions Headquarters Relocation

Motorola Solutions has announced the relocation of the company’s global headquarters to Chicago and also the relocation of manufacturing and distribution operations to Elgin, IL.

Motorola Solutions Headquarters Relocation to Chicago

Motorola Solutions Headquarters Relocation to Chicago (photo – motorolasolutions.com)

The company will move into 150,000 square feet of space across six floors at 500 W. Monroe St. in Chicago, with approximately 800 employees located at the new downtown headquarters as well as the company’s customer briefing center.

With this relocation from its existing headquarters in Schaumburg, IL, Motorola Solutions will have a total of 1,100 employees working in the City of Chicago. The company already has its Americas Sales Headquarters located at a different 46,000-square-foot space on S. Michigan Ave. with approximately 300 employees, which it will continue to operate.

Mayor Rahm Emanuel said in a release that “With this move, Motorola Solutions not only returns to its Chicago roots, but the company is doubling down on Chicago’s future.”

Motorola Solutions Chairman and CEO Greg Brown added that “Our company began in this city 87 years ago, and today we’re pleased to announce that our headquarters is coming home.”

Motorola Inc. was founded in 1928 in Chicago as the Galvin Manufacturing Corporation. Motorola Solutions (NYSE: MSI) is the entity that succeeded the breakup of Motorola Inc., after the Motorola mobile phone division was spun off as Motorola Mobility in 2011.

These developments have proven to be detrimental to Schaumburg, but a big gain for Chicago economic development. Motorola Mobility, which was acquired by Google after its spinoff and is now owned by Lenovo, has already followed the same relocation process, having moved its headquarters from Schaumburg to the Merchandise Mart in Chicago, in the process bringing 2,000 jobs to the city.

Motorola Solutions’ move to Chicago with 800 jobs coincides with the company’s plans to transition from a manufacturer of radios used by emergency, police and fire departments to a software platform and solutions provider for emergency communications. Being located in Chicago provides Motorola Solutions with direct access to the city’s deep pool of software talent such as data scientists, user experience designers, interface designers and software developers.

Motorola Solutions continues to be a significant employer in Schaumburg where it said it will retain approximately 1,600 employees on its 277-acre campus.

However, the company also announced plans to sell unused real estate in Schaumburg, and is relocating its manufacturing and delivery operations to Elgin, IL, where it will invest $18 million to renovate and equip an existing 300,000-square-foot building in the Northwest Business Park.

Motorola Solutions expects to create 200 full-time jobs at this facility. Earlier this month, the Elgin City Council took up a resolution fast-tracking the project and waiving building permit, development and other fees.

New York Awards $16.7M Economic Development Funding For 25 Projects

New York State has awarded $16.7 million in state assistance for 25 projects that are creating 333 new jobs and retaining 227 existing jobs in the state.

Cornell greenhouses

Cornell greenhouses (photo -cuaes.cals.cornell.edu)

Funding for these projects, approved by lead New York economic development agency Empire State Development’s Board of Directors, will also leverage over $50 million in private assets and other public funding to support local businesses and projects.

One of the grant recipients was Cornell University, which has been awarded $350,000 against the construction and renovation costs for an 8,000-square-foot research-grade greenhouse on the University’s main campus in Ithaca, NY.

The Cornell greenhouse was one of the Southern Tier REDC’s priority projects under the second round of the Regional Council funding process. It will leverage private investment in business development and expansion of shovel ready sites (particularly in the agriculture sector), while also leveraging university research to enhance the agricultural sector.

Cornell has completed the greenhouse, which now supports 51 jobs, exceeding estimates of being able to retain 45 jobs and create one new job. Other Southern Tier projects that were approved for state funding include:

Tompkins Cortland Community College Foundation – A grant of up to $1 million for a portion of the cost to purchase the machinery and equipment required to create a working farm and culinary center in the Town of Dryden.

Emerson Complex Redevelopment – A grant of up to $344,000, to be used to redevelop the Emerson Complex in Ithaca, NY into a mixed-use office, manufacturing, incubator and residential space.

Alfred Technology Resources, Inc. – A grant of up to $300,000 to repurpose an empty factory in Chemung County into a new manufacturing incubator space to support startup and existing companies.

The Finger Lakes Region grants that were approved are as follows:

Genesee/Finger Lakes Regional Planning Council – A grant of up to $3 million to establish Growing the Agriculture Industry Now! (GAIN), a below-market rate revolving loan fund for agriculture-related enterprises.

Surmotech, LLC – A grant of up to $200,000 to purchase the machinery and equipment required to upgrade its manufacturing and testing facility in Victor, NY.

The Central New York Region grants that were approved are as follows:

CenterState CEO – A grant of up to $5 million to support the costs for the Growing Entrepreneurs and Innovators in Upstate New York (GENIUS NY) business competition.

YMCA of Greater Syracuse, Inc. – A grant of up to $985,000 for the purchase of furniture, fixture and equipment for the new 100,200 square foot YMCA facility in Baldwinsville, NY.

The North Country Region grants that were approved are as follows:

Natural History Museum of the Adirondacks – A grant of up to $250,000 for construction of Phase 2 of “The Wild Walk”, a new outdoor exhibit walkway structure in Tupper Lake, NY.

Village of Saranac Lake – A grant of up to $190,000 for the construction costs required to make improvements to the village’s sewer system.

The Capital Region grants that were approved are as follows:

Albany College of Pharmacy and Health Sciences – A grant of up to $150,000 for the cost associated with the demolition and renovation of over 7,000 square-feet of space in three of the College’s laboratories.

Schenectady County Community College – A grant of up to $150,000 for renovations required to create a workforce development training center and new office space for the new SCCC Workforce Development Division.

The Western New York Region funding approved is as follows:

210 Walnut Street, LLC – A loan of up to $480,000 for the renovation of the former Harrison Radiator plant site located in Lockport, NY. The project will help to retain Trek Inc., an existing tenant, attract Torrent Inc., a wholly owned subsidiary of Trek, and consolidate manufacturing operations.

Seal & Design, Inc. – A grant of up to $230,000 against the acquisition and installation of machinery and equipment costs required to expand its operations and workforce in Clarence, NY.

The Long Island Region grants that were approved are as follows:

Peconic Land Trust, Inc. – A grant of up to $1 million to establish the Agricultural Capital Equipment Grant Program to assist farmers who wish to make capital investments in their farming operations.

MPI Consulting, Inc. – A grant of up to $112,290 to support purchase machinery and equipment to increase the productivity of its manufacturing operations.

This last project is a part of the Aerospace & Defense Diversification Alliance in Peacetime Transition’s (ADDAPT) group competiveness improvement program. The third round of the Regional Council process allocated funding to the ADDAPT Program to support aerospace manufacturing firms that invest in new facilities, facility expansion and machinery, with selections based on industry, capital investment plans and job creation/retention.

ADDAPT was formed by a group of Long Island defense industry business leaders in 1991 to mitigate significant reductions in defense spending by the Federal government, and has a mission is to sustain and grow manufacturing capability in the Long Island region’s defense and aerospace industries.

In a release announcing these economic development grants, Gov. Andrew M. Cuomo said that “From Long Island to the North Country, these targeted investments are creating jobs for New Yorkers and strengthening key industries that are spurring economic growth statewide.”

Nevada Considers Incentives For Rackspace Data Center Project in Reno

The agenda for the next meeting of the Nevada Governor’s Board of Economic Development (GOED) includes an application for 20-year data center sales tax and personal property tax abatements by Rackspace US, Inc.

Rackspace

Rackspace (photo – Garrett Heath/flickr)

The 20-year tax abatements require the project to commit to the creation of at least 50 jobs and an investment of $100 million within a five-year period. The Rackspace data center project located in the Reno Technology Park will meet this job creation level, and far overshoot the investment requirement.

The jobs created will have an average annual wage of $29.75. Rackspace will invest approximately $100 million for real estate and construction alone, with about $211 million in personal property. Overall, the company expects to make a capital investment of $422 million into the Reno data center project over the 20-year period of the tax abatements it is applying for.

San Antonio, TX-based Rackspace (NYSE: RAX) is one of the world’s top managed cloud companies with more than 6,000 employees. The company currently serves more than 300,000 business customers from existing data centers in Texas, Virginia, Illinois, the United Kingdom, Hong Kong and Australia.

Having decided that there was a need for another large-scale data center facility to better serve its customers, Rackspace undertook a multi-year site selection process to identify a suitable site. Apart from Nevada, other sites in consideration were located in Oregon, Texas and Virginia.

According to its application, the company identified Reno as an attractive site because of “the competitive power costs, low network latency to the Bay Area, access to a skilled workforce, and an attractive state incentive program.”

The Reno Technology Park is ideally located along the I-80 ‘fiberway’ that links NYC and Silicon Valley. Data centers can furthermore access the western wholesale power market to negotiate some of the lowest power prices ($/kWHr) in the region. The recently approved Nevada data center incentives provide tax advantages that match or exceed any available in the U.S.

Rackspace’s application for tax abatements is supported by Reno economic development agency EDAWN. The application, if approved, will abate the sales tax on equipment to two percent for 20 years, which works out to incentives of about $23,062,300. The 75 percent personal property tax abatement for 20 years will likewise save Rackspace $10,508,264, adding up to a total of $33,570,564 in tax incentives.

After factoring in the indirect impacts, the project will still generate new state and local taxes totaling $47,418,214 over the 20-year period. Not to mention new payroll totaling $95,512,245 and economic output of $323,384,200.

Apart from the Rackspace data center project, the GOED Board will also consider applications for incentives for the following projects:

Reno Flying Service, Inc. – RFS is expanding in Northern Nevada with an investment of approximately $3,000,000 for a new Beach 1900 Airplane, and the creation of 22 new jobs. The company is seeking 20-year aviation sales tax and personal property tax abatements totaling $2,416,153.

Verascan, Inc. – Las Vegas-based Verascan is an aerospace services and solutions company, and expects to increase their employee count from seven to 22 within the next year. The company is seeking 20-year aviation sales tax and personal property tax abatements totaling $648,587.

Turano Baking Co – Turano already has 825 employees in four states, and is considering adding a western location. They have sites under consideration in Nevada, California and Arizona. In order to locate at a site in Clark County, the company is applying for $3,611,200 in sales tax, modified business tax, and personal property tax abatements from Nevada.

VadaTech, Inc – The company, which is already located in Clark County, is now in need of additional capital equipment that will allow them to continue to grow and hire more people. VadaTech is applying for $405,300 in tax abatements to help support their growth plans.

New Millennium Building Systems – New Millennium is a division of Steel Dynamics. The company already has 168 employees in Churchill County, and plans to create 27 new jobs with the addition of a fourth crew in the production facility. The company is seeking $386,500 in tax abatements.

Sumter, SC Economic Development Agreement Expanded For Continental Tire Expansion

The County Council of Sumter County, SC has approved an expanded economic development agreement for a proposed expansion of the Continental Tire, The Americas (CTA) tire manufacturing facility in Sumter County, SC.

Continental Tire

Continental Tire (photo – The359/flickr)

Under the new FILOT (fee in lieu of taxes) agreement with the county, CTA is required to make a new capital investment of $275 million and create another 100 new jobs.

The original FILOT agreement with the county announced back in 2012 was for a $400 million investment and 1,174 jobs.

Greg A. Thompson, chairman of Sumter Economic Development, said in a release announcing the expanded FILOT agreement that they partnered with the company in 2011 and said they would be in lock step with them throughout this journey as a team.

“We have never wavered on that commitment. We are excited beyond words that they believe in this community as much as we do,” added Thompson.

Continental expects this new expansion will enable the company to increase tire production capacity from approximately four million units planned for 2016 to approximately eight million units and will more than double the current jobs within the facility. Total employment is projected to reach 1,600.

Continental Tire had announced back in Oct 2011 that the company would make a $500 million investment in Sumter, and expected to create 1,600 new jobs at the facility over the next 10 years.

Jochen Etzel, CEO of Continental Tire the Americas, LLC (CTA), said in a release that they extend their thanks for the sustained support from Governor Haley, the state of South Carolina, the Ports Authority, Sumter County and the city of Sumter.

South Carolina Governor Nikki Haley said in the release that “Continental is a huge reason our state produces more tires than any other state in the country, and we’re excited to celebrate a bright future for the partnership between South Carolina and this great company.”

County Council Chair Naomi Sanders thanked CTA and colleagues on the County Council for working diligently with the Economic Development team and Administration to prepare a package that is a win-win for the County and the company.

Sumter Mayer Joe McElveen noted that “$275 million more means more jobs, more business and more tires.” Mayor McElveen said it means Sumter is again making sure that they are taking care of existing industry and people in the county by fostering economic development that creates good jobs and grows the wealth of all citizens.

Continental’s decision to locate their tire manufacturing facility in Sumter has had a big economic impact on the region. The 1-million-square-foot CTA facility began operations in Oct 2013 and has already created 625 direct jobs.

Since Continental announced its investment, the per capita income in Sumter has increased by more than 11 percent, and the unemployment rate has been cut in half. Continental has furthermore invested more than $100 million in small businesses in South Carolina.

Apart from the direct and indirect jobs and spending generated by CTA’s Sumter operations, the factory is also helping attract automotive industry suppliers to the region. King Machine, a Continental supplier, recently invested $3 million to establish a facility in Sumter and create 20 new jobs.

Globally, Continental employs more than 205,000 people in 53 countries.  The company’s tire division by itself has 24 production and development locations worldwide, with with more than 47,000 employees.

New Jersey Considers $253M Economic Development Incentives For Camden Scrap Metal Recycler

The agenda for the next meeting of the New Jersey Economic Development Authority includes applications for Grow NJ incentives for six projects.

New Jersey

New Jersey (photo – Famartin/wikimedia)

By far the largest one is a Camden economic development project by EMR Eastern LLC and affiliates.

NJEDA will consider approving an annual Grow NJ award of $25,275,000 for a 10-year term for this project. That would enable the company to claim tax credits totaling $252.75 million over this 10-year period.

EMR (European Metal Recycling) is a global leader in metal recycling, with more than 150 locations around the world. Their U.S. headquarters is located in Bellmawr, NJ at the same address as Camden Iron & Metal, Inc., which was acquired by EMR in 2007.

Camden Iron was founded in 1929, and is one of the largest recyclers of scrap iron and non-ferrous materials in the United States. The company, which is headquartered in Camden, operates facilities in Camden as well as Philadelphia, PA.

Camden Iron moved around 175 jobs from Philadelphia to Camden in 2012 after state financing for a pier that the company would have been able to use was rescinded. All the scrap crushed in Philadelphia now gets trucked to the Balzano Marine Terminal at the Port of Camden.

The NJEDA agenda simply states that they are considering approving tax credits under the Grow New Jersey Assistance Program for EMR Eastern LLC and affiliates to “encourage the applicant to make a capital investment and locate in Camden City, NJ.”

Apart from the EMR project, the other projects on the NJEDA agenda seeking incentives are as follows:

Axtria, Inc. – This Berkeley Heights, NJ-based data analytics company is considering an expansion of its operations in Berkeley Heights. NJEDA will consider approving an estimated annual Grow NJ award of $365,600 for a 10-year term.

B Positive National Blood Services, LLC and Affiliates – B Positive is considering relocating its headquarters from Cherry Hill, NJ to Glassboro, NJ. NJEDA will consider approving an estimated annual Grow NJ award of $357,500 for a 10-year term.

Chelten House Products, Inc. – This food products firm is considering a large expansion of its operations in Logan Township, NJ. NJEDA will consider approving an estimated annual Grow NJ award of $2,343,000 for a 10-year term.

Hudson Group Retail, LLC – HG, which operates chains of newsstands, fast food outlets, bookstores and other retail stands, is considering an expansion of its operations in East Rutherford, NJ. NJEDA will consider approving an estimated annual Grow NJ award of $549,500 for a 10-year term.

Yellowstone Capital, LLC – This NYC-based firm, which helps businesses secure non-traditional financing, is considering locating a project with capital investment in Jersey City, NJ. NJEDA will consider approving an estimated annual Grow NJ award of $337,500 for a 10-year term.

Prince William County Economic Development Incentives Secure Ventech IOE Center

Information and technology consulting and system integrations company Ventech Solutions Inc. announced the selection of Prince William County as the location for their Innovation, Operations and Engineering (IOE) Center in the National Capital Region.

PWC

PWC (photo – pwcecondev.org)

Supported by Prince William County Economic Development incentives, the company plans to invest more than $1.5 million and to create 200 new highly-skilled jobs. These will be high-wage jobs with an average annual wage of $80,000, well above the prevailing average wage in the county.

Columbus, OH-based Ventech Solutions Inc. is a CMMI Level 3 software company and a public sector focused system integration and consulting services firm. Ventech first established its presence in the Greater Washington, DC Metro area by opening a new facility in the Battleview Business Park in Manassas, VA.

In a release announcing the expansion of their operations to Prince William County, Ventech Solutions Inc. CEO Herb Jones said that Prince William County delivers all the requirements that a growing Inc. 5000 company needs to fulfill major mission-critical programs that are of national importance.

“It was important for Ventech to establish a strong presence in the National Capital Region, at the center of a growing healthcare IT industry with access to a highly-skilled workforce and talent pipeline,” said Jones.

Prince William County and Virginia successfully competed for this project against other locations in Maryland and other states. Ventech’s clients span over 14 states, and the company has a physical presence that includes facilities in Ohio, New Mexico, Washington DC, Virginia and Louisiana.

Governor Terry McAuliffe said in a release that “In order to build a new Virginia economy, we need to attract high-tech companies like Ventech Solutions, which provide well-paying jobs and help strengthen our communities.”

In order to encourage the location of Ventech to Prince William County, the Board of County Supervisors has approved $50,000 for the project from the Prince William County Economic Development Opportunity Fund. This funding will help the company offset a portion of the costs of equipment purchases and facility renovations.

Prince William Board of County Supervisors Chairman Corey A. Stewart said in the release that they’re delighted to welcome Ventech to Prince William County and to their growing IT business community.

“The addition of 200 new jobs at an average salary of $80,000 a year is a great example of the type of jobs we are attracting in Prince William County,” added Stewart.

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