Cisco Selects Toronto For $100M Internet of Everything Innovation Center

Cisco (NASDAQ: CSCO) announced that it will locate a $100 million Internet of Everything (IoE) Innovation Center in Toronto, Canada.

Internet of Everything

Internet of Everything (photo – internetofeverything.cisco.com)

This is Cisco’s fourth IoE Innovation Center announcement, and Toronto joins three other such centers announced for Germany, Brazil and South Korea.

The decision to locate the North American IoE Innovation Center in Toronto follows on the heels of an agreement signed by Cisco and the Government of Ontario in Dec 2013.

As a part of that agreement, Cisco had agreed to invest $4 billion in Ontario over the next ten years, create 1,700 jobs over the next six years, and make Ontario one of its global R&D hubs for next-generation technologies.

The Government of Ontario is supporting Cisco’s planned investments and job creation with a $220 million grant.

The Toronto IoE Innovation Center will occupy 15,000 square feet of space in the RBC WaterPark Place, which will also house Cisco’s Canadian headquarters.

The IoE Innovation Center will help government agencies and companies explore the potential and opportunities surrounding the Internet of Everything.

Cisco defines IoE as the networked connection of people, process, things and data. The concept is that there is a compound impact of connecting these four, and the increased connectedness creates value as “everything” goes online.

It’s a virtually untapped market, with 99.4 percent of all the physical objects that could be a part of IoE still not connected.

Cisco estimates this to be a $19 trillion global opportunity over the decade from 2013-2022. Out of this, the public sector alone could generate $4.6 trillion in employee productivity, new revenues, cost savings and enhanced citizen experience by properly leveraging IoE.

Rob Lloyd, president for Development and Sales, Cisco, said this $19 trillion global opportunity includes almost $500 billion for Canada’s public and private sector organizations, and much of this opportunity is still on the table.

Lloyd added that Cisco Canada is a leader in Smart+Connected Communities development, and the establishment of the IoE Innovation Center provides further testament to the company’s ongoing investment in Toronto, Ontario and Canada.

Dr. Eric Hoskins, Minister for Ontario Economic Development, Trade and Employment, likewise noted that with the announcement of the Cisco Innovation Center for Toronto, Cisco continues to demonstrate its confidence in Ontario and its commitment towards the province.

The Film House Will Relocate to New Nano Hub in New York State

Film and television company The Film House will be relocating to a new Central New York Hub for Emerging Nano Industries in Onondaga County, New York.

Gov. Cuomo announces new Hub for Emerging Nano Industries in Onondaga County

Gov. Cuomo announces new Hub for Emerging Nano Industries in Onondaga County (photo – NyGovCuomo)

The Los Angeles-based company will be the hub’s first tenant, and will be moving their headquarters and production, post-production and distribution operations.

The facility, to be located in the Collamer Crossings Business Park in Dewitt, will be led by the College of Nanoscale Science and Engineering (CNSE).

It will initially create 125 jobs, expected to grow to 350 as per a seven-year growth plan that calls for $150 million in private investment.

The first 52,000-square-foot building for The Film House will be completed by Oct 2014, and a second 52,000-square-foot building for additional tenants is expected to be completed by spring 2015. At least 150 construction jobs are expected to be created while the facility is being built.

Governor Andrew M. Cuomo said the new innovation hub will be a hotspot for research and education, and will bring hundreds of millions of dollars in investments and hundreds of new jobs to Central New York.

The Film House considered locations around the world during a site selection process. Ryan Johnson, president and CEO of The Film House, said nothing came close to offering an opportunity like New York does.

The facility is unique in that it combines multiple New York economic development incentive programs to offer great value for The Film House and others that may follow, vastly reducing the budgets for their film and television productions as compared to other states.

For starters, The Film House will be able to get the newly enhanced film tax credits that Empire State Development (ESD) offers for production and post-production.

Secondly, they will not be paying any income, business, sales or property taxes for up to 10 years since the facility will technically be a CNSE campus. Businesses relocating or expanding to a qualified educational campus and collaborating with the educational institution are tax-exempted under the newly approved Startup-NY program.

The hub will specialize in advanced visual production research and education. CNSE students will actually be provided on-the-job training by The Film House.

In addition to $15 million in NY State support through CNSE for building the facility, the company will also get local support from Onondaga County, which has already invested $1.4 million on site work to ensure the business park in Dewitt is shovel ready, and the county IDA is ready to help new tenants.

Onondaga County is also working with the Syracuse International Film Festival for establishing an Onondaga County Film Commission which would provide logistics and marketing support for film production.

US Economic Development Administration Gets $210M in FY 2015 Budget Request

The U.S. Department of Commerce announced an $8.8 billion fiscal year 2015 budget request.

FY 2015 Budget

FY 2015 Budget

The budget includes $210 million for the U.S. Economic Development Administration.

EDA’s enacted funding level is $247 million until Sept 2014, as authorized under the FY 2014 omnibus spending bill.  For FY 2013, EDA’s funding level after factoring in sequestration was $219 million.

The $210 million budget request for FY 2015 also factors in $25 million for the Regional Innovation Strategies Program. The omnibus bill had authorized only $10 million for this program for FY 2014.

The budget also includes a hike in the funding level for the Minority Business Development Agency (MBDA).

The EDA’s budget may have shrunk, but the budget requests for many other Commerce agencies and departments have been hiked. The International Trade Administration (ITA) budget request is set at $497 million, an eight percent hike over the FY 2014 enacted level.

The ITA budget request includes $20 million for expanding SelectUSA and promoting reshoring and attracting job-creating investments from around the world. The Bureau of Economic Analysis (BEA) will get an additional $4 million to support SelectUSA by improving measurement and understanding of FDI flows.

Manufacturing innovation, R&D and support programs are singled out for a lot of enhanced funding.

The $680 million budget request for NIST seeks to accelerate advances in research priorities including advanced manufacturing. The budget also provides $141 million for the Hollings Manufacturing Extension Partnership (MEP), a $13 million increase over the FY 2014 enacted level.

The Advanced Manufacturing Technology Consortia (AMTech), a public-private partnership, is getting $15 million more.

The President is also proposing the “Opportunity, Growth, and Security Initiative” which includes funding for up to 45 manufacturing innovation institutes under the National Network for Manufacturing Innovation (NNMI), building on the four institutes that have already been launched.

These institutes and the other programs under the Opportunity, Growth, and Security Initiative will be fully paid for by reforming other spending programs and changing a few tax provisions.

U.S. Secretary of Commerce Penny Pritzker said in a statement that this budget prioritizes high-tech manufacturing and innovation, trade and investment, skills training, infrastructure, unleashing government data and acting on environmental intelligence, while also cutting red tape to help businesses grow.

Pennsylvania Launches JOBS1st Regional Partnership Grants Program

Pennsylvania Governor Tom Corbett announced the launch of the JOBS1st PA Regional Partnership grants program.The grants will be awarded by the Pennsylvania Department of Labor & Industry, which will make up to $4 million available for this program.

Pennsylvania workforce development

Pennsylvania workforce development (photo – paworkforce.state.pa.us)

The Labor & Industry Dept. will be supported by DCED, which handles Pennsylvania economic development programs and projects.

Grants ranging from $25,000 to $500,000 will be awarded through a competitive process. The applicants must be a consortium that includes Partnerships for Regional Economic Performance (PREP) and Local Workforce Investment Boards (LWIBs) as core partners.

Workforce development services at the local level are handled by 22 LWIBs. A majority on each of these boards is made of the local employer community. These 22 LWIBs cover 23 Local Workforce Investment Areas, each of which has at least one PA CareerLink center that provides workforce development services to both employers and jobs seekers.

Funding for this system of workforce development in Pennsylvania is provided by the U.S. Department of Labor.

The PREP teams, on the other hand, get funding from Pennsylvania and work collectively to deliver economic development services. There are 10 PREP regions, and the partners in each team decide how funds get distributed within their region.

By requiring PREP and LWIB collaboration to apply for grants, the JOBS1st PA Regional Partnership grants will bring together providers of workforce and economic development services at the local and regional level and give them the funding necessary to help them figure out  what kind of training and development works best in their areas.

Gov. Corbett said they are building opportunities for local partners to be creative and coordinate workforce recruitment, training programs and local employer needs at a regional level.

The JOBS1st PA Regional Partnership grants as a collaborative effort by L&I and DCED was first announced by Gov. Corbett in the budget as part of the 2014-2015 “Talented Workers” investments.

JOBS1st PA was launched in 2012 as a roadmap for economic recovery, aiming to harness the state’s talents and resources to prioritize job creation and retention in the private sector. The recently announced budget continues that work by focusing on programs classified under two core areas – “Talented Workers” and “Make It in PA.”

For example, the 2014-2015 “Make It in PA” investments includes the Discovered in PA ‚Äì Developed in PA (D2PA) program which is helping move ideas quickly from the lab to the marketplace.

Apart from the JOBS1st PA Regional Partnership grants, the 2014-2015 “Talented Workers” investments include other programs such as the Pennsylvania Targeted Industry Program (PA TIP) which provides financial aid grants to meet workforce needs.

NYC Launches W2NYC New Manufacturing Challenge

In partnership with New York International, the New York City Economic Development Corporation announced the launch of a new version of “World to NYC: the Global Industry Challenge.”

W2NYC Challenge

W2NYC Challenge (photo – nycedc.com)

W2NYC was initially launched as an initiative focusing on specific countries or regions, inviting a set of innovative companies from a chosen region to come to New York City and connect and network with potential investors and business and community leaders.

The seven previous W2NYC rounds from Dec 2010 to Oct 2013 have welcomed delegations of entrepreneurs and top startup founders from all over the world to NYC, including from Latin America, U.K., France, China, Central Eastern Europe and Israel.

This year, W2NYC is modifying the format to focus on a specific industry instead of a country or region. Actually it’s two industries, because the Spring 2014 challenge will focus on New Manufacturing, and the Fall 2014 challenge in late September will focus on Clean Tech.

The spring challenge will take place from May 12-14, 2014 and will focus on new manufacturing areas including the convergence between software and the physical world, the rise of 3D printing and connected devices.

W2NYC is looking for 15 innovative companies from anywhere in the world to be a part of this challenge. Applicants should be companies who are at the forefront of global innovation in this field, providing solutions for real problems.

Although the program doesn’t necessarily require companies to relocate or expand to NYC, preference will be given to applicants who are keen on expanding their operations to NYC and show a readiness to do so.

The program is designed for founders and CEOs, who can get an inside look at the manufacturing-tech ecosystem in New York City, and will be able to explore the possibility of building partnerships with local and national firms.

Participants will get an opportunity to meet with the heads of large corporations, investors and tech entrepreneurs, in addition to lawyers specializing in immigration and business incorporation issues.

They will also be able to meet NYC government officials and expats who have already expanded operations to NYC. Delegations will be taken on tours of prominent NYC companies, tech neighborhoods, workspaces and incubators.

Applications are expected to be submitted by March 31, 2014, and the selected applicants will be notified by mid-April.

Ohio TCA Provides Tax Credits for Economic Development Projects Impacting 1057 Jobs

The board of the Ohio Tax Credit Authority (TCA) has approved assistance under the Job Creation Tax Credit (JCTC) program for 10 projects that will collectively create 349 jobs and retain another 708 jobs across Ohio.

Ohio Development

Ohio Development (photo – development.ohio.gov)

Together, these projects will be making investments worth $8.7 million, and are expected to add $17.4 million in new payroll.

One of the projects approved for a 45 percent, six-year JCTC is Columbus-based internet marketing provider PEOPLETOMYSITE.com. The company is expanding its operations in Franklin County, as a result of which it will create 50 new full-time jobs, adding $2.8 million to its existing $1.9 million payroll.

Coupons.com, which is based in Deerfield Township, is likewise undertaking an expansion project that will create 22 new jobs and will add $1.5 million to the company’s existing $3.4 million payroll. Coupons.com, Inc. has been approved for a 40 percent, five-year JCTC for this project.

Zipscene, a technology company which helps its clients target their marketing campaigns at specific customers and customer groups, is expanding in Cincinnati and adding 47 new jobs. The new jobs will add another $3.8 million to their existing $1.8 million payroll. The TCA has approved a 45 percent, six-year JCTC for this project.

Liberty Technology and Liberty Casting are getting a 45 percent, five-year JCTC for undertaking a consolidation project in the City of Delaware, OH which is expected to create 52 new jobs, adding $2 million to their existing $6.5 million payroll.

Aurora Plastics is getting a 40 percent, five-year JCTC for an expansion project in the City of Streetsboro, OH which is expected to create 19 new jobs, adding $1.5 million to their existing $3.4 million payroll.

Selman & Company is likewise getting a 40 percent, five-year JCTC for an expansion project in the City of Cleveland, OH which is expected to create 40 new jobs, adding $1.7 million to their existing $4.95 million payroll.

IntelliHARTx, LLC is moving to a new location in the City of Findlay, OH in the process creating 50 new jobs and adding $1.7 million in payroll. The company has been approved for a 405 percent, six-year JCTC.

McFeely’s, a fasteners woodworking tools supplier in the City of Harrison, OH is getting a 35 percent, five-year for adding 14 new jobs and $670,000 in additional payroll.

Venture Packaging, located in the Village of Monroeville, is undertaking an expansion that will create 45 new jobs and add $1.1 million to the company’s existing $12.8 million payroll. This project has been approved for a 40 percent, six-year JCTC.

Lastly, Miba Energy Holding LLC is moving to a new location in the Village of McConnelsville, and the company is getting a 40 percent, six-year JCTC for creating 10 new jobs and adding $705,000 in new payroll.

These projects seeking state assistance are submitted to the TCA for review by regional economic development agencies in Ohio and by JobsOhio, a private non-profit organization that promotes Ohio economic development and job creation.

Texas, Nebraska Awarded Site Selection Governor’s Cups

Site Selection magazine’s latest issue includes the annual Governor’s Cup rankings for states attracting the most new and expanded corporate facility projects, but there’s a twist this year – there are two Governor’s Cups being awarded.

Texas #1

Texas (photo – state.tx.us)

The 657 qualifying Texas economic development projects in 2013 helped the Lone Star State win the Site Selection Governor’s Cup yet again.

Qualifying projects are those which have met at least one of the following criteria – project must create 50 or more new jobs; or require a capital investment not less than $1 million; or involve new construction that adds at least 20,000 square feet of space.

Gov. Rick Perry, who is getting his fifth Governor’s Cup, said that states are the laboratories of innovation, and Texas continues to be a beacon of opportunity for job creators and entrepreneurs.

Site Selection editor in chief Mark Arend said that areas compete aggressively for capital investment, and Texas’ latest first-place Governor’s Cup finish is evidence of a highly successful economic development strategy.

Texas was followed by Ohio with 480 projects, Illinois with 383, Pennsylvania with 348, and Michigan with 312 projects.

Illinois Department of Commerce and Economic Opportunity Director Adam Pollet said that moving up to third place in the Site Selection standings is great, but added that they aren’t going to be satisfied until Illinois is number one on the list.

The remaining five states in the top 10 list for number of corporate facility projects in 2013 are Georgia (299), North Carolina (223), Virginia (208), Florida (193) and Tennessee (187).

A new addition this year is a second Governor’s Cup list based on the number of projects per capita (per million). Nebraska topped this list with 109 projects, which means Nebraska Governor Dave Heineman gets the first per capita Governor’s Cup from Site Selection magazine.

Gov. Heineman said he was thrilled that Nebraska has earned the 2014 Governor’s Cup for economic development.

Gov. Heineman also said that he appreciates this new methodology, because the big states will always win if it’s only based on the number of projects, and added that a per capita measure is fairer to small and medium-sized states in that they can feel like they’re making progress.

Catherine Lang, director of the Nebraska Economic Development Department, said that earning the Governor’s Cup over this outstanding field confirms that the hard work of the state’s economic developers in combination with all the amenities Nebraska offers is getting noticed by corporate players in the global economy.

Nebraska was followed on the per capita list by Ohio, which placed second on this list as well. Louisiana was in third place, with Kentucky and Kansas rounding out the top five.

Site Selection also released its list of top metros for new and expanded facilities for 2013. This list was topped by Chicago-Naperville-Elgin, IL-IN-WI for MSAs with populations exceeding one million.

Omaha-Council Bluffs, NE-IA topped the list of MSAs with populations between 200,000 and 1 million. For metro areas with populations below 200,000, the list was topped jointly by the Sioux City, IA-NE-SD; Altoona, PA; and Dubuque, IA metro areas.

Channell Commercial Corp Selects Rockwall, TX For Relocation

Channell Commercial Corporation will be relocating their manufacturing facility and corporate headquarters to the City of Rockwall, Texas.

Rockwall, TX

Rockwall, TX (photo – Rockwall Economic Development Corp.)

Channell will build a 175,000-square-foot facility in Rockwall that will house the largest structural foam machine in Texas.

The $20 million development is scheduled to begin in the fourth quarter of 2014, and will create more than 200 new jobs for Rockwall and Texas.

The announcement was made by the Rockwall Economic Development Corporation. REDC President and CEO Sheri Franza said she believes Rockwall is the perfect location for Channell, and provides the company with all the elements they need to foster and support their international growth strategy.

Channell is a leading provider of thermoplastic enclosures and advanced copper and fiber connectivity solutions and products to American and international telecom companies including AT&T, Time Warner, Verizon and Cox.

Franza added that Channell’s new headquarters and manufacturing facility will be a huge attraction for other advanced manufacturing operations that are seeking a strong city and state for supporting their organization.

Channell is currently located in Temecula, CA. Bill Channell, CEO for Channell Commercial Corp., said they had conducted a two-year search for a new location, and were pleased to have selected Rockwall.

Channell said their customers located east of the Rockies, in Canada, and in Latin America, would benefit logistically from the company’s relocation to Rockwall.

He added that they believe that from a quality of life perspective, Rockwall gives the company an advantage in recruiting top talent nationally. Channell also mentioned REDC’s association with Texas A&M, which he said offers additional opportunities to find new engineering talent.

Apart from the REDC, Channell also mentioned Congressman Ralph Hall and Ray Pawley, a Rockwall resident and board consultant to Channell, for helping narrow down the company’s global site selection process to Rockwall.

Pawley said that as a 20-year resident of Rockland, it was evident to him that Rockwall should be in serious consideration for Channell’s new facility.

Congressman Hall said that REDC is able to attract companies looking for the best opportunity to relocate or expand because of Rockwall’s leadership in business recruitment, a talented workforce, economic climate, strong schools and housing market.

The REDC is located in the 400-acre Rockwall Technology Park, which has shovel ready sites and offers easy access to interstates, railroad and airports.

 

Kansas House Approves Bill To Attract OK-KS Border Residents

The Kansas House of Representatives has approved an expansion of the state’s Rural Opportunity Zones (ROZ) program in a bid to attract employees of companies in Kansas border counties who live across the state line in Oklahoma.

Kansas State Capitol

Kansas State Capitol (photo – Aviper2k7/wikipedia)

The ROZ program was established by Kansas Gov. Sam Brownback and the State Legislature in 2011 to help attract residents to 50 counties that had lost 10 percent or more of their population in the last decade.

ROZ offers new full-time residents state income tax waivers for up to five years, along with student loan repayments of up to $15,000.

The payments are made jointly by the state and the county. Currently, 73 counties in Kansas are authorized to offer ROZ incentives to attract residents.

The Kansas Legislature is now considering a bill (HB 2417) to expand the rural opportunity zones to include four more Kansas counties (Cherokee, Labette, Montgomery and Sumner) close to the Oklahoma border.

HB 2417 was introduced and is sponsored by legislators whose districts cover these border counties. Rep. Jim Kelly’s district covers part of Montgomery County. Rep. Richard Proehl‚Äôs district spans across both Labette and Montgomery counties. Rep. Virgil Peck‚Äôs district includes parts of Montgomery County, and Rep. Michael Houser‚Äôs district spans across both Labette and Cherokee counties.

They are seeking this amendment in order to preserve wages of jobs in the aforementioned counties that are filled by people who live in Oklahoma and commute to work in Kansas. The bill hopes to provide incentives under the ROZ program that will entice these workers to relocate and become Kansas residents.

HB 2417 passed the House on a 104-19 vote, and has been received and introduced in the Kansas Senate.

The State’s Department of Commerce, which handles Kansas economic development projects and programs, supports HB 2417 and is also accepting applications from employers who want to sponsor new hires under the ROZ program.

The employer covers the county’s share of the cost of the student loan repayment. This helps businesses recruit skilled workers and benefits the community which gets new residents.

ROZ Program Manager Chris Harris said in a statement that ROZ applications are pouring in, and many counties have waiting lists. Harris says counties have been able to overcome funding challenges and bring new participants into the ROZ program with the help of employer sponsorships.

Missouri Senate Passes MO-KS Border War Incentive Bill

The Missouri Senate has approved a bill that seeks to end the incentive “border war” between Missouri and Kansas.

Missouri and Kansas joint economic development  in Kansas City

Kansas City economic development (photo – thinkkc.com)

The bill (SB 635) was passed by the Senate on a 30-2 vote, and must now be approved by the House before it can be signed into law by Missouri Governor Jay Nixon.

SB 635 would make businesses relocating from certain KS counties to certain MO counties ineligible for Missouri incentives such as the BUILD program, Urban Enterprise Loan program, Missouri Works program, and the new or expanded business facilities program.

The bill does not prohibit local incentives from cities and counties, but no state incentives will be offered to the so-called “line-jumpers.”

These relocations do not create any new jobs, but simply provide companies incentives to relocate across the state line while still staying in the Greater Kansas City area.

A Hall Family Foundation study found that the two states had together handed out $212 million simply to move jobs both ways across the state line. Kansas spent $140 million under the Promoting Employment Across Kansas (PEAK) program, while Missouri spent $72 million under the Missouri Works program.

In an address to the Greater Kansas City Chamber of Commerce last year in November, Gov. Nixon called for an end to the border war, and proposed that the two states should instead work together to leverage their resources and jointly promote the Kansas City region.

Immediately after that, SB 635 was prefiled by State Senator Ryan Silvey in the Missouri Senate in Dec 2013.

As approved by the Senate, the bill will expire after two years on August 28, 2016 unless the director of the Missouri Economic Development Department certifies that Kansas has passed similar legislation banning incentives for Missouri border county businesses seeking to relocate to Kansas border counties.

SB 635 becomes law only after the DED Director provides the certification, but Kansas legislators have given no indication so far that they plan to follow suit and pass similar legislation.

If SB 635 doesn’t expire in Aug 2016 – as in if Kansas approves similar legislation, then the bill will remain in force until August 28, 2020.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372  Scroll to top