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ONLINE INSIDER


Economist: Prepare for Tough Year in Capital Markets

In remarks at the recent IAMC Forum in Boise, Idaho, a CBRE strategist finds silver linings in an otherwise cloudy forecast.


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FROM SITE SELECTION MAGAZINE, SEPTEMBER 2023 ISSUE


UPPER MIDWEST

Why a Biomanufacturer Picked Richmond, Indiana

“This is the single best site I have ever found in a search,” the CEO tells Site Selection.


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INVESTMENT PROFILE: CALIFORNIA

Why California Is the Top State for Foreign Investment

An inside look into TeamCalifornia’s members’ widespread success.


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FROM THE ARCHIVES

Do it Best’s HQ occupies the spot formerly claimed by GE’s Building 26 at the Electric Works mixed-use redevelopment of the former factory site.

Rendering courtesy of Ancora Partners


Business Oregon’s Governor’s Strategic Reserve Fund is supporting an expansion of a distribution center in Woodburn operated by member-owned hardware and building supply chain Do it Best, adding 20 jobs to a payroll of 130. Earlier this month the Fort Wayne-based cooperative — Indiana’s largest private company — reported $4.8 billion in sales during its 2023 fiscal year. A year ago this month, Do it Best President and CEO Dan Starr talked to us about the company’s move into a new headquarters anchoring Electric Works, the redevelopment of a former GE factory complex backed by a more than $400 million investment from North Carolina-based Ancora Partners. Employees had begun moving in and new signage was hoisted by early this year.



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SITE SELECTION RECOMMENDS

Development Counsellors International released the 10th edition of its “Winning Strategies in Economic Development” at the recent IEDC annual conference in Dallas. Among other findings, the survey said more than half of respondents said workforce statistics are the most useful feature of an economic development organization’s website. Site Selection staff are now beginning work on the 2024 edition of our annual Workforce Guide. The DCI survey also listed the best state business climates according to respondents, with Texas taking the top spot, followed by Florida, Georgia, North Carolina and South Carolina. Find out which states top Site Selection's annual Business Climate Rankings in the November 2023 issue.



ILLINOIS INVESTMENT GUIDE 2023-24

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PHOTO OF THE DAY

Rafflesia kumumu blooms in the rainforest of Sumatra.

Photo by Dr. Chris Thorogood, deputy director of the University of Oxford Botanic Garden, courtesy of Oxford University

Last week an international group of scientists issued an urgent call for coordinated action to save the genus Rafflesia, which contains the world’s largest flowers, after a new study that shows the plant’s 42 species are severely threatened, yet just one of them is listed in the International Union for Conservation of Nature’s Red List of Threatened Species. Over two-thirds of the plants’ habitats are unprotected and at risk of destruction, said a release from Oxford University.

A parasite that “infects” tropical vines in Southeast Asia, the plant produces “a cabbage-like bud that breaks through the vine’s bark and eventually forms a giant, five-lobed flower, up to a meter across,” Oxford explains. “This produces a foul scent of rotting meat to attract pollinating flies, earning it the alternative name ‘corpse flower.’ ” The study points to successful conservation efforts by Bogor Botanic Garden in West Java, Indonesia, and by tourism awareness groups called pokdarwis in West Sumatra. “Indigenous peoples are some of the best guardians of our forests, and Rafflesia conservation programs are far more likely to be successful if they engage local communities,” said Adriane Tobias, a forester from the Philippines. “Rafflesia has the potential to be a new icon for conservation in the Asian tropics.”