Economic Development

News & Analysis as of

Protecting Your Business in the Innovation Economy

The recent 12th Annual State of the Research Triangle Region event highlighted the innovation economy in North Carolina and particularly the Research Triangle area as a “smart region.”...more

Legislation Enhances Florida Craft Beer Industry

While many states, including such craft beer meccas as Colorado, Oregon and Vermont, have been embracing the explosion of the craft beer culture in America, Florida has been waging war against craft beer in true...more

2015 Oklahoma Tax Legislation: Wind Farm Tax Incentives, Tax Amnesty Program, Aggregate Income and Franchise Tax Return, Tax...

The Oklahoma Legislature enacted changes in Oklahoma tax laws in its 2015 session. The changes include a tax amnesty program for payment of delinquent taxes without interest or penalty during a two (2) month...more

Open for Business: Who's Investing in Latin America [Video]

Latin America is open for business and the world is taking notice. Foley Partner Jeffery Atkin outlines which countries are actively taking on development projects in Latin America and how the culture is affecting the way...more

Alabama Tax Legislative Summary: 2015 Regular Session; Some Unofficial Predictions For Upcoming Session(s)

The Alabama Senate adjourned late Thursday afternoon, June 4, leaving a number of pending bills on the table. Although the legislature passed a record-setting $6 billion Education Trust Fund budget, the issue that pervaded...more

Baker Calls for Industry Input on Regulatory Review and Economic Development Strategy

Responding to criticisms that state regulations are burdensome and make Massachusetts a more costly and less competitive place to live and do business, Governor Charlie Baker signed Executive Order 562 to simplify the...more

North Carolina General Assembly Week in Review

The Senate budget process continued this week, though at a slower pace than members had planned for in the schedule released last month. Budget votes originally scheduled for Wednesday and Thursday of this week were delayed...more

Insights Newsletter - Spring 2015

In This Issue: - The Importance of Accredited Investors for Small Business Capital Formation - “All Appropriate Inquiries”: Update on the Environmental Due Diligence Standard - A Hunt for Justice Erodes...more

EB-5 Project Finance–Investor Visa Option - Creative Financing for U.S. Developers and Businesses

In recent years, developers seeking to raise capital have taken a keen interest in the EB-5 regional center investor visa program. Regional centers are entities designed to use immigrant investor capital to promote economic...more

News from Second and State

Monday marked one month until a state budget must be passed. While it’s hard to say whether we’re any closer to enactment of a balanced state spending plan, there was some budget-related activity in the state legislature this...more

Bennett Jones Spring 2015 Economic Outlook

This spring Outlook is structured in three sections. The first section sets out our view of the economic outlook commencing with a very short summary of recent world economy dynamics, followed by a review of the outlook for...more

2015 Florida Legislative Update: Environment, Growth Management and Water

The Florida Legislature concluded its 2015 regular session on May 1, 2015. However, for all practical purposes, the session ended on April 28, when the House unexpectedly adjourned three days early after it became clear the...more

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

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