Business Facilities - November 2007 - (Page 30)

BUSINESS REPORT Pennsylvania where O’Brien says some influential officials didn’t want to promote competition against the ports in the Newark area. Some in Congress were reportedly uneasy with estimates on the cost of the project as well. Also, environmental groups have expressed concerns that the dredging will stir up toxins buried along the river floor and disrupt the habitat of the wildlife living there, talk O’Brien dismisses as coming from “environmental extremists guided by saving one fish.” “The average wages for workers there will be $50,000 to $60,000, with the best benefits in the country. Why would you stand in the way of that?” says O’Brien. PENNSYLVANIA POWER MOVE Westinghouse Electric Company was seriously considering leaving behind its roots in the Pittsburgh suburbs—that is, until Pennsylvania made the company an offer it couldn’t refuse: The state assembled an attractive package to keep the company in the Keystone State, including a $2.25 million Industrial Development Authority loan, a $1.65 million opportunity grant, a $1.25 million Infrastructure Development Program grant, $860,000 in customized job training funds, and eligibility to apply for a $10 million low-interest loan through the Citizens Job Bank program. Thanks to the state’s help, Westinghouse decided to stay in its home state. The company broke ground in August on its new 800,000-squarefoot corporate headquarters in Cranberry Woods, PA—about a half hour away from its current headquarters in Monroeville, PA. According to Pennsylvania Department of Community and Economic Development Secretary Dennis Yablonsky, North and South Carolina were among the serious suitors trying to attract the company, and Westinghouse was “absolutely” serious about relocation. “It’s a $200 million project, so it’s a big one. It’s a big project, one that frankly any state would have wanted,” says Yablonsky. The financial incentive package was made possible by strategic Westinghouse Energy Center’s current corporate headquarters in Monroeville, PA 0 #0907 at www.BusinessFacilities.com 30 NOVEMBER 2007 PHOTO: B. KRIST FOR GREATER PHILADELPHIA TOURISM MARKETING CORPORATION development area legislation signed into law in 2006 specifically to keep global companies like this one from leaving. The measure gives the governor the power to create special zones that offer tax incentives for businesses dedicated to creating new jobs in the designated areas. To qualify, companies must own or lease the property in question, maintain or create 500 jobs within three years, or make a capital investment of at least $45 million. For its part, Westinghouse has pledged to create at least 931 jobs over the next five years, bringing its workforce in the area to about 4,400. But Yablonsky, a Western Pennsylvanian who was closely involved in the negotiations, says the deal had relevance deeper than just dollars and cents. “Westinghouse is one of those names, like Heinz or Mellon, that is just synonymous with the area, so there was a definite Pittsburgh pride factor there,” he says. http://www.philaport.com http://www.philaport.com http://www.BusinessFacilities.com

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Business Facilities - November 2007 Contents First Words Snapshots Metro Spotlight: Indianapolis Region, Indiana Georgia's Pursuit of Industry Extreme Technology Sites A Tennessee Trifecta A Watershed Moment for Philly Metro Spotlight: Mexico-Texas Border Region High Tech and Aerospace Heat up in Arizona Meeting the Information Technology Challenge IEDC Announces 2007 Winners Corporate Moves: Alabama Northeast Arkansas Scores Major Investments Corporate Moves: Virginia Metro Spotlight: Martinsville-Henry County, VA Renewable Michigan Advertiser Index Ask the Expert

Business Facilities - November 2007

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