Business Facilities - December 2007 - (Page 16)

COVER STORY 2007 Economic Development Deal of the Year Awards complex completed Westinghouse Artist’s rendering of the by Westinghouse, since the tax status changes would require new legislation that would have to be passed after any project announcement. Meanwhile, Westinghouse’s growth was accelerating beyond its own expectations, putting pressure on everyone involved to get a deal signed. “The aggressive effort by Pennsylvania and the Pittsburgh Regional Alliance to pass necessary legislation and secure local community cooperation to create Strategic Development Areas was impressive in retaining this long-time area employer,” says Economic Development Deal of the Year Award judge Jerry Szatan, principal, Szatan & Associates. On March 20, 2007 Westinghouse announced it had chosen an 83-acre site in Butler County, PA for its new campus. Scheduled for completion in 2010, it will be the largest single-tenant office campus in the history of the Commonwealth From left: Alleg heny Conference of Pennsylvania. Tax abateon Community Development CE O Michael Lang ely, Company Presid ent and CEO Ste Westinghouse Electric ments 15 years in length phen R. Tritch, an Pennsylvania Go d vernor Edward G. Rendell will save the company $45 million; it will also benefit from a $2.25 million PennndTritch at the grou gust sylvania Industrial Authority breaking in Au 2007 loan, a $1.65 million Opportunity Grant, a $1.25 million Infrastructure Development Program grant, and $860,000 in Customized Job Training program funds. “This project reinforces the significance of retention of business 16 DECEMBER 2007 following month, the company announced it had narrowed its search to Connecticut, North Carolina, South Carolina, and Pennsylvania. Both of the Carolinas presented a challenge to Southwestern Pennsylvania, because they were able to propose extremely tempting land options and incentives. South Carolina in particular offered an incentive package worth more than $70 million, an amount that Pennsylvania could not and would not match. Pennsylvania’s main incentive tool to entice Westinghouse was a promise by officials to create a tax-free designation at either of the sites proposed by the state. It required trust and a subsequent commitment of growth in a corporation’s backyard,” says Economic Development Deal of the Year Award judge Jan Dickinson, president and CEO, The Dickinson Consulting Group. Pennsylvania’s ability to coordinate the Governor’s Action Team, the Pittsburgh Regional Alliance, and county, municipality, and school district officials—getting them to work together on the tax relief (and preventing any nasty infighting for the project among the cities involved), along with the project’s large size and historical significance for the region, are what impressed our judges enough to give it the highest total score this year. We’re proud to bestow this recognition of achievement on the state, the region, and the company for a project that will have such a lasting impact on the economic well being of Southwestern Pennsylvania. Our staff, our judges, and your constituents congratulate you! PROJECT IMPACT ESTIMATES Additional $1 billion annually in regional GDP, including $296 million in new activity and $712 million in preserved activity 931 direct jobs created; 1,536 indirect jobs created; 2,243 existing direct jobs and 3,813 existing indirect jobs to be retained Average salary of new jobs: $85,700 $244 million of new personal income to be created, and $584 million of income to be preserved Capital investment: $400 million Impact estimates calculated by the University of Pittsburgh, based on a date five years from completion of the project PHOTOGRAPHS PROVIDED BY KEVIN R. COOKE, PHOTOGRAPHER, GRAULE STUDIOS; RENDERING BY LLI/IKM

Table of Contents Feed for the Digital Edition of Business Facilities - December 2007

Business Facilities - December 2007 Contents First Word Snapshots Metro Spotlight: Albuquerque, New Mexico Corporate Moves: North Carolina 2007 Ecomonic Development Deal of the Year Awards State of the Year Seeking Supply Chain Solutions Mississippi Means Business Corporate Moves: South Carolina Biomedical Momentum in Florida's High Tech Corridor Trends in Offshoring Metro Spotlight: Stillwater, OK Metro Spotlight: Atlanta, GA Advertiser Information 2007 Salary Survey

Business Facilities - December 2007

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