Business Facilities - March 2009 - (Page 26)

BUSINESS REPORT Texas eral government grant programs and industry. The results of the program just now are being realized by having given priority to enhancing Texas’ global competitiveness. Gov. Perry recently announced that the state will invest $5.5 million in the University of Houston to create the world-class Institute of BioTurbine power: Texas leads the nation in wind-energy power, medical Research as part of accounting for 26% of total installed capacity in the U.S. The state the ETF fund. has undertaken a $5-billion project to build a wind power grid. “The biomedical indusincentives that bolster Texas’ capital try is one of the largest in our state, and competition in a global market- and has the potential to greatly place,” says Governor Rick Perry. improve many Texans’ quality of life But the governor’s office and eco- with continued research and expannomic development officials in Texas sion,” says Gov. Perry. “This worldaren’t resting on their laurels. By put- class research team will lead the ting an emphasis on current business charge in developing treatments for incentives and creating new initia- diseases that plague our citizens and tives, the state continues to improve enhance the University of Houston’s its business-friendly outlook. presence as a biomedical research “Companies around the nation institution.” are taking notice of the great climate for business we have in Texas,” says CATERPILLAR MOVE TO CREATE Texas Speaker of the HouseTom 1,400 JOBS IN SEGUIN, TX In December, Caterpillar Inc., a Craddick. “By holding the line on taxes and promoting growth, we’ve Fortune 50 company, announced created an economic climate that is that it is moving one of its primary the envy of America. Because of our global assembly, test and paint facilistrong economy, state government ties to Seguin, TX, creating more has a budget surplus at a time when than 1,400 jobs. The project is the most other states have a shortfall. second largest in terms of job creThis did not happen overnight, and ation and investment this biennium. Texas was in competition with South it did not happen by chance.” One example is the Texas Emerg- Carolina and Mexico for the facility. “This investment in Caterpillar ing Technology Fund (ETF) created in 2005, which awards grants to will not only create high paying jobs higher education institutions to for Texans, but will strengthen our recruit research talent, funds compa- state’s overall economic situation and nies that take ideas from concept to further diversify our state’s economic marketplace, and creates public-pri- makeup,” says Gov. Perry. Caterpillar is a leading manufacvate partnerships to leverage the unique strengths of universities, fed- turer of construction and mining 26 MARCH 2009 equipment, diesel and natural gas engines, industrial gas turbines, and medium and high-speed diesel engines. The company has several operating locations across Texas, including Amarillo, Channelview, Coppell, Dallas, De Soto, El Paso, Fort Worth, Garland, Houston, Laredo, Mabank, McAllen, McKinney, Midland, Sherman, Waco, and Waskom. With this investment, Caterpillar will consolidate and relocate its assembly, paint and testing operations from Illinois and South Carolina to Seguin. The facility will provide engines for Caterpillar machines and electric power generation, as well as petroleum, marine, and industrial customers. “Caterpillar’s decision to invest and create jobs in Texas is proof that our efforts to attract businesses and grow our economy are working, even in the face of a troubled U.S. economy,” Lt. Governor Dewhurst said. “By keeping taxes low, removing roadblocks to growth and business, and maintaining a skilled workforce through our commitment to education, we will keep Texas moving forward as a national and global economic leader.” “The incentive package assembled to recruit Caterpillar Inc. was by far the largest and most aggressive the community has ever developed,” says Seguin Mayor Betty Ann Matthies. “Given the capital investment and the number of jobs committed, Seguin, in coordination with the state, delivered the most attractive incentive package to complement the area’s strategic location and excellent workforce. Without our regional and state partners, we would not have been as competitive.” At Gov. Perry’s request, the legisla- PHOTO CREDIT: VESTAS

Table of Contents Feed for the Digital Edition of Business Facilities - March 2009

Business Facilities - March 2009 Contents First Word Snapshots Corporate Moves: Tennessee Deciphering High-Tech Hubs Industry Focus: Biotech/Pharmaceuticals The Lone Star State Continues to Burn Brightly Pennsylvania is Holding Its Own Corporate Moves: Florida Metro Spotlight: Findlay, OH Advertiser Index Ask the Expert

Business Facilities - March 2009

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