Economic Development

News & Analysis as of

North Carolina Gearing Up for Major Road Improvement Projects

Few things shout “economic development” louder than substantial road improvement projects. For Division 9 of the North Carolina Department of Transportation (“NCDOT”), many more developments are underway. The Winston-Salem...more

Agreement Between Mongolia and Rio Tinto Opens Door to Future Mining Projects, Economic Growth

On May 18, 2015, the Government of Mongolia, Rio Tinto and the Rio Tinto subsidiary, Turquoise Hill Resources, reached agreement on development of the underground phase of the Oyu Tolgoi mining project. The agreement, termed...more

Luxury & Culture Behind Miami’s Growth as a Destination for the Wealthy

The City of Miami continues to emerge as a top global destination for the über-wealthy. According to Knight Frank’s annual Wealth Report (2015), Miami is ranked 6th globally, 2nd in the U.S. and will remain among the world’s...more

Illinois Circuit Court Dismisses Challenge to Retained Job EDGE Credits

Corporations with Illinois Economic Development for a Growing Economy (EDGE) credit agreements giving credit for retained jobs can breathe a sigh of relief: The litigation challenging the state’s ability to grant EDGE credits...more

Governor Signs Legislation Ending the Development of Regional Impact Program for New Development

On Thursday, May 14, 2015, Governor Scott signed into law CS/CS Senate Bill 1216, now Chapter 2015-30, Laws of Florida. This historic piece of legislation eliminates the Development of Regional Impact (DRI) process...more

Changes in US Sanctions on Cuba Present Opportunities and Challenges

The Obama Administration’s recent loosening of trade restrictions on Cuba has the potential to open new opportunities for US businesses. However, there are several obstacles to be overcome before US companies may access...more

The Next Hot Trend in Economic Development: Craft Beer

The Brewers Association, a trade association representing small and independent American craft brewers, recently released 2014 data on the United States craft beer industry. For the first time ever, at 11 percent, the craft...more

Private Equity In Africa: Context, Opportunities, And Risks

In this issue: - Overview - Macroeconomics - Politics and policy - The practice of private equity in Africa - Opportunities for private equity in Africa - An excerpt from...more

Miami: The Next Global Frontier

Miami’s second annual eMerge Americas Conference marks another milestone in the city cementing itself as a hub for tech startups and entrepreneurs. In the last 18 months, Miami has established and cemented many of the key...more

2015 Ontario Budget: Full Speed Ahead for Infrastructure

On April 23, 2015, the Ontario government (Province) released its 2015 budget, entitled “Building Ontario Up” (Budget). As the title would suggest, the Budget emphasizes Ontario’s plans for the future with respect to...more

Financing the Middle East’s Shopping Spree

The continuing strong economic conditions of the UAE and other GCC economies has led to an upsurge in consumer spending in recent years. With retail sales in the region expected to reach US$284.5 billion by 2018, the need to...more

LIFT Orlando Bolsters Downtown Along With Community Partners

The last few years have brought much synergy and excitement to downtown Orlando. The Dr. Phillips Center for the Performing Arts, the Amway Center, the reconstructed Orlando Citrus Bowl, The Plaza, Creative Village, the UCF...more

North Carolina General Assembly Week in Review

Members of the North Carolina General Assembly had a full schedule this week, considering bills on everything from repealing the state’s cumbersome Map Act to voiding a law which required teachers to write Personal Education...more

Africa Update - April 2015 #2

In This Issue: - Leading the News - United States – Africa Relations - North Africa - East Africa - West Africa - Sub - Saharan Africa - General Africa News - Excerpt...more

NC Politics in the News

Last week, the North Carolina General Assembly took a rare spring recess, with both the House and the Senate adjourning for the week. Both chambers return to action today with a busy schedule ahead of them. ...more

House Bill 58, Alabama Jobs Act, Gives State Jobs Tax Credit and Capital Investment Credit

HB58, one of five bills that constitute what has been described as the most significant overhaul of Alabama economic development since Mercedes-Benz came to the state, became law on Friday, April 3 (effective July 2). The...more

Missouri Passes Data Center Incentive Legislation

Missouri recently joined the growing number of states that have created incentives for the construction or expansion of data center facilities. The new law, signed on April 9, 2015, provides exemptions from various state and...more

From Handshake to Ribbon Cutting: Lessons in Implementing Economic Development Incentives that Avoid Clawbacks

Once an incentive agreement is in place, it is time for the company to get to work building and staffing the new or expanded facility. While the economics of a deal are typically still on track, the initial buildout/expansion...more

March 27, 2015 Legislative Update

Many large groups of the general public descended on the General Assembly this week in an attempt to have their voices heard on various issues. One such issue was vaccinations, which resulted in a lot of women walking around...more

Chicago's Technology Community Includes a Growing Automotive Technology and Research Sector

In recent years, Chicago has become a hot spot for technology companies. Established companies like Google and Motorola Mobility are expanding their footprint in Chicago, and growing companies work with incubators and...more

March 6, 2015 Legislative Update

In Like a Lion and Out Like a Lamb. - That’s what we’ve always heard about the month of March in North Carolina. - 1. In like a lion. 2. Madness. 3. Out like a lamb....more

Italy’s Jobs Act Creates Significant Labor Reforms

On February 20, 2015, Italy approved significant but controversial reforms to Article 18 of Italy’s Workers’ Statute of 1970 in an attempt to combat soaring unemployment, currently 42% among workers under the age of 29 and...more

March 13, 2015 Legislative Update

Redistricting Local Bills - SB 181 – Wake County Commissioner Districts and SB 36 – Greensboro City Council Districts, the two bills that remake the governing boards of two large local governments, passed the Senate...more

Phoenix Project: Atlantic City Can Rise From The Ashes

Most of the news from the Atlantic City Boardwalk over the last couple of years has not been promising. Several of the massive casino resort properties there have closed and/or slipped into bankruptcy, and the resale or...more

Georgia Supreme Court Rejects Challenge to Property Tax Incentives

On March 27, 2015, the Georgia Supreme Court rejected a challenge to the legal validity of property tax incentives in Georgia, largely on procedural grounds. SJN Properties, LLC v. Fulton County Bd. of Tax Assessors, No....more

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