Business Facilities - December 2008 - (Page 54)

COVER STORY 2008 Economic Development Deal of the Year Awards (Continued from page 14) to advancing nuclear technology, and the critical understanding of this industry. It’s a great match that will result in secure jobs and a stronger economy,” Otter said. The governor noted that the state’s decision to provide funding for the Center for Advanced Energy Studies at INL also had enhanced Idaho’s stature as a leader in nuclear energy. In order to win the AREVA project, the state Department of Commerce and Grow Idaho Falls worked together to create a “multi-attribute utility model” (MAUA) to satisfy 39 physical, environmental, geographical and economic criteria established by AREVA for the enrichment facility location. While more than 200 locations in numerous states were initially considered for the project, the MAUA enabled Idaho to join a list of finalists that included 10 sites in six states. Virginia, Ohio, Texas, New Mexico, and Washington were the other finalists. In the second phase of the bidding process, economic criteria and public support for the project were given more weight by AREVA. Grow Idaho Falls, the Greater Idaho Falls Chamber of Commerce, the Partnership for Science & Technology, the City of Idaho Falls, and the Regional Development Alliance joined forces to draft legislation to accommodate necessary tax incentives. One tax hurdle that needed to be overcome was the fact that AREVA did not qualify for a sales tax exemption on its production equipment because it was defined as a “processor” and not a manufacturer (i.e. they do not own the uranium they process). 54 DECEMBER 2008 Rob Chiles (Greater Idaho Falls Chamber of Commerce), Sam Shakir (AREVA), Linda Martin (Grow Idaho Falls), and Lane Allgood (Partnership for Science and Technology) celebrate AREVA’s decision to award the Eagle Rock plant to Idaho Falls. Artist’s rendering of $2-billion enrichment plant Also, the states competing with Idaho offered property tax exemptions of between 80% and 100%. The Idaho Legislature passed two bills earlier this year designed to make Idaho competitive with other states by minimizing or eliminating the tax consequences for the AREVA enrichment plant. “We were able to show that bringing this type of large, taxpaying, forprofit business to Idaho would benefit the entire state, particularly in light of recent declining state revenues,” says Linda Martin, executive director of Grow Idaho Falls. In May 2007, AREVA appeared before the Nuclear Regulatory Commission (NRC) to put forth its plans to site a multi-billion dollar uranium enrichment facility in the U.S. within the next 18 years. AREVA told the NRC that the facility would provide a new domestic source for enriched uranium, currently being imported to the U.S. that is used to create fuel for the 104 nuclear power plants now operating in the United States. Idaho put itself front-and-center as a contender for the AREVA plant when, early in 2008, 17 mayors and city officials from the the state testified at a hearing for the Global Nuclear Energy Partnership Program. Idaho’s Congressional delegation then met with AREVA. “We could not have done this without help from many individuals throughout our community, the state, and [from] our Congressional leadership,” notes Idaho Falls Mayor Jared Fuhriman. PHOTO CREDIT: AREVA

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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