Business Facilities - December 2008 - (Page 51)

Detroit skyline jobs to our state.” In addition to the previously mentioned investments of K-Dow, GM, and MPI, a $1.5billion expansion of Marathon Petroleum Company’s refinery in southwest Detroit skyrocketed Michigan’s staggering investment tally. The Ohio-based company will utilize a $10-million Brownfield state tax credit to expand its existing refinery on a 22-acre adjacent site, formerly the location of a steel plant. The project will include the addition of new processing units that will enable the refining of more crude oil from Canada, while increasing the refinery’s capacity by 15 percent. Current employment of 480 at the refinery will increase by 135 jobs, and the city of Detroit has approved a 23-year abatement valued at an estimated $174 million to support the project. Lake McDonald, Glacier National Park, Montana A Regional Recognition While our second annual State of the Year is a flagship award for Business Facilities and 2008’s undeniable winner is Michigan, if we had to identify a U.S. region that comprehensively dominated the competition, the answer would be clear: the South. No other piece of the American pie, no matter how you slice and dice it, came close to the participation rate and competitiveness of this region. Strong entries poured in from Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, Tennessee, and Virginia, making a blazing statement that the South always is a contender. The Runner Up: MONTANA Interestingly, all of the Montana’s State of the Year statistics revolved around one multifaceted industry: energy. The Many Stars coal-to-liquids facility, an investment worth $7 billion, will stimulate 4,000 to 5,000 new jobs and produce 50,000 barrels of diesel and other fuels per day. This mega-deal helped cement the runner-up nod for Montana. TransCanada’s Keystone XL Pipeline will pump crude oil for 281 miles beneath Montana’s Big Sky country thanks to a $1-billion investment. Meanwhile, Signal Peak Energy’s new mining operation will PHOTO CREDIT: UNIVERSITY OF MICHIGAN; FLICKR.COM create 191 jobs in Montana and bring $450 million to the state economy. Additionally, General Electric announced in May the creation of 125 jobs in Billings, MT. To counterbalance the state’s booming carbonbased resources, two wind power companies are pumping a total of $525 million into the Treasure State’s alternative energy sector. “Turning Brownfield sites into productive new development is a win-win for Detroit and Michigan,” Gov. Granholm says. “These developments will mean new investment and new jobs for Detroit and that’s great news for the state.” “Brownfield redevelopment credits are among the most effective tools we have to help cities like Detroit address the need to replace abandoned properties and help industrial facilities expand,” says MEDC President and CEO James C. Epolito. “These are the uses for which the program was intended.” With a resourceful economic development team, a proactive and determined governor, and a willing, waiting workforce, Michigan’s successes landing lucrative corporate investments and, in turn, multiplying its employment totals should not come as a surprise—especially to those who read beyond the harrowing headlines. BUSINESS FACILITIES 51 http://www.FLICKR.COM

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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