Economic Development Incentive Reports Create Opportunities for Companies in 2021
All fifty U.S. states offer some form of economic development incentives to offset regional cost of business measures. As the chart below outlines, infrastructure incentives are provided by all the states in the union. State economic development tax credits follow closely behind infrastructure program as the second most popular tax incentive program in the nation […]
Montrose Group 2021 Corporate Site Location Trends Illustrate COVID 19 Impact
Forecasting corporate site location trends is always a tricky business. Montrose Group, based upon negotiating over $1 B in corporate site location projects and advising communities across the U.S., is providing their 2021 Corporate Site Location Trends White Paper based upon existing economic and demographic data that illustrate what trends will continue and which ones […]
Federal Stimulus Package Becomes Law in Last Act of 2020 for Washington DC
After the typical wrestling match that Washington D.C. has become in the last decade, Congress and President Trump finally agreed upon a $900 B federal stimulus legislation that appropriated $1.4 T through the reappropriation of previous funds. Targeted industry and economic development highlights of the federal stimulus package includes: Arts & Entertainment Industry. Authorizes $15 […]
Ohio General Assembly Creates Transforming Mixed Use Development Tool
There is a new economic development tool coming to Ohio. Senate Bill 39, which the Montrose Group has previously highlighted is on its way to Governor DeWine for his signature to officially become law. As we have previously discussed Senate Bill 39 creates a new tax credit in Ohio, to be used in the development […]
133rd Ohio General Assembly Roundup: Is 2020 Done Yet?
2020 will definitely be a year to remember. Now that the end of the year upon us, this time of the year also brings with it the end of the 133rd General Assembly and the lame duck session which bookends the legislative calendar. This year’s lame duck didn’t disappoint with a flurry of legislation activity […]
Ohio Business Should Apply for Ohio Export Internship Program
The Ohio Export Internship Program matches businesses interested in growing exports with highly motivated college students who have taken export-focused coursework. The Development Services Agency offers participating small to medium-sized businesses a 50 percent reimbursement for the wages of the intern, up to $3,600. This year, 41 students from universities across the state spent the […]
2020 Year in Review: Challenges and Successes
Has it ever been more challenging to write a year in review article than for 2020? 2020 was full of unprecedented public health challenges, racial strife, and an economic collapse driven by government decisions to close 1/3 of the American economy to limit the spread of COVID 19. However, out of these challenges rise success […]
Automation Makes Rural Communities a Good Location for Manufacturing Companies
Automation of nearly all industries has been impacting companies and communities for decades by making companies more productive with fewer workers making higher wages. COVID 19 will likely expedite this economic trend as a robot cannot contract a human virus. Current economic projections see overall job growth in professional services, educational services, and health care […]
Rural Communities Low Cost of Doing Business a Prime Driver for Manufacturing Investments
Rural communities’ cost of doing business are substantially lower than their urban counterparts. The largest cost for nearly every company is labor. Paying workers, unless it is a data center or some other energy intensive, capital intensive business, will be the largest cost facing any company. Regions with competitive wage rates are highly attractive for […]
Rural Communities are Manufacturing Centers Compared to Metro Markets
Rural communities present substantial economic opportunities. Manufacturers in the United States account for 11.39% of the total output in the economy, employing 8.51% of the workforce.[i] Total output from manufacturing was $2,334.60 billion in 2018.[ii] In addition, there were an average of 12.8 million manufacturing employees in the United States in 2018, with an average […]
