NEW JERSEY

Strategic Innovation Centers (SICs) for R&D, innovation, networking, business support and other services are boosting sectors such as aerospace in New Jersey.

ASSOCIATION UPDATE

Thoughts on sustainability from the IAMC Chair and, just after an IAMC event held last week in Mexico City, some insights on nearshoring in Mexico.

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Learn about Kongsberg Defence’s missile manufacturing plans down under, Haier’s plan for cooling off Thailand and a petroleum hub set to be a game changer for Ghana.

The Texas Instruments site in Sherman, Texas, destined to be home to two new chip fabs, is shown here in July.

Photo courtesy of Texas Instruments

The current resurgence of investment in the U.S. semiconductor manufacturing sector doesn’t mean it’s never occurred before. Twenty years ago, in “TI’s Texas Two-Step,” Site Selection’s Ron Starner talked to Texas Instruments Chairman, President and CEO Tom Engibous and Vice President of Worldwide Facilities Lewis McMahan about how Texas beat out China for a $3 billion fab investment.

The company 10 days ago signed a preliminary agreement with the U.S. Department of Commerce to receive up to $1.6 billion in direct funding through the CHIPS and Science Act to support three 300-mm. semiconductor wafer fabs under construction in Sherman, Texas, and Lehi, Utah. “In addition, TI expects to receive an estimated $6 billion to $8 billion from the U.S. Department of Treasury's Investment Tax Credit for qualified U.S. manufacturing investments,” the company said, supporting its plan to invest more than $18 billion overall through 2029.

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Image by Umnat Seebuaphan: Getty Images

The Institute of Real Estate Management (IREM®), the National Apartment Association (NAA) and Building Owners and Managers Association (BOMA) International last week released the 2023 Income/Expense IQ benchmark data, which they say “provides the industry's most detailed, real-time property performance benchmarks for multifamily, office, and industrial real estate nationwide.” The benchmarks are drawn from over 5,000 submissions by real estate professionals. “This valuable information equips property managers, asset managers and owners with a measuring stick that they can use to run their properties more efficiently,” said Matt Lexow-Gray, vice president of Data & Intelligence at Lobby CRE, which powers the tool. “It helps them see how they stack up to others in their MSA on a per-unit or per-square-foot basis, guiding them to strategically focus their time and efforts on more offense (income) or more defense (expenses).”

Jebel Ali Port, which opened in 1979, today contributes 23.8% to Dubai’s GDP, says DP World.

Photo courtesy of DP World Ltd.

On August 15, DP World Limited announced that for the six months ending June 30, revenue grew by 3.3% to more than $9.3 billion thanks to its ports and terminals, where “like-for-like gross container volumes growth of 6.1%” was driven by strong growth in the Americas, Europe, Asia Pacific and at Jebel Ali (pictured) in Dubai.

The company said its capital expenditure for the first half of the year included $593 million in its Ports and Terminals business, $278 million in its Logistics and Parks and Economic Zones units, $122 million in Marine Services and $1 million at the company’s head office. “Capital expenditure guidance for 2024,” the company stated, “is for approximately $2.0 billion to be invested in the UAE including Drydocks World, London Gateway (United Kingdom), Inland logistics (India), Dakar (Senegal), East Java (Indonesia), Callao (Peru), Jeddah (Saudi Arabia), Dar Es Salam (Tanzania) and DP World Logistics (Africa) and Fraser Surrey Docks (Canada).”