Business Facilities - December 2008 - (Page 14)

COVER STORY 2008 Economic Development Deal of the Year Awards $2 Billion Uranium Processing Plant Will Fuel Enrichment of Eastern Idaho’s Economy Project Title: AREVA Chooses Idaho Falls for Eagle Rock Plant Entered By: Grow Idaho Falls and Bonneville County, ID O ur 2008 Bronze Award winner provides proof positive that successful large-scale economic development is not limited to industrial states with large populations. This year’s Bronze Award goes to a joint entry from Grow Idaho Falls Inc. and Bonneville County, ID, for AREVA Inc.’s choice of Idaho Falls as the location for a new $2-billion uranium enrichment plant. Construction of the new enrichment facility, called Eagle Rock, which will begin after a three-year design phase, is expected to employ more than 1,000 people. Once operational, the plant will employ up to 300. The AREVA project is expected to generate more than $1 billion in income/wages for the region; overall, it is expected to spur more than $5 billion in economic activity in Idaho. Idaho Falls’ proximity to the Idaho National Engineering Laboratory (INL) and its established reputation as a nuclear-energy friendly community gave it a leg up in the competition for the AREVA facility. “While we had several attractive sites to choose from, we opted for Idaho Falls, which has strong ties to nuclear energy and which welcomed AREVA and its proposed enrichment facility to become a new member of the community,” says Michael McMurphy, president of AREVA. “We look forward to a long-term partnership that will deliver diversity and strength to the regional economy.” AREVA was impressed by Idaho’s regional approach to the bidding process. Three members of the Eastern Idaho Economic Development Partnership presented a “regional proposal”— including multiple sites in Idaho—to AREVA at a meeting in Boise at the state Department of Commerce. The company also was attracted by the state’s commitment to the development of the nuclear power industry. In his announcement of the AREVA site selection in May, Governor C.L. “Butch” Otter cited Idaho’s positioning as a state with a “critical understanding” of the needs of the nuclear power industry. “Eastern Idaho has the workforce, the infrastructure, the commitment (Continued on page 54) PROJECT IMPACT ESTIMATES Direct jobs, 1,500; indirect jobs, 442; induced jobs, 632; Total jobs created, 2574 Cost of building estimate, $800 million; cost of machinery and equipment, $1.2 billion; total cost estimate, $2 billion Total labor income estimate, $1,493,727,113; plant payroll (year 1), $27,000,000; total labor income (year 1), $48,000,712 Direct output, $3,510,232,728; indirect output, $930,393,121; induced output, $696,978,867; total output, $5,137,604,716 From left, Bob Poyser and Sam Shakir of AREVA join Grow Idaho Falls head Amy Lientz and Mayor Fuhriman announcing the AREVA site. 14 DECEMBER 2008 PHOTO CREDIT: WWW.GROWIDAHOFALLS.ORG http://www.LLS.ORG

Table of Contents Feed for the Digital Edition of Business Facilities - December 2008

Business Facilities - December 2008 Contents First Word Snapshots Corporate Moves: North Carolina Gold Award: New Engine for Growth in Virginia Silver Award: Tennessee Gets the Big Prize Bronze Award: Enrichment in Idaho Falls Honorable Mentions International Reach From America's Heartland Supply Chain Priorities Metro Spotlight: Greenville/ Spartanburg, SC The Magnolia State Has It All A Real Estate Mega-Merger State of the Year Ask the Expert Advertiser Index

Business Facilities - December 2008

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