Although manufacturers are facing a challenging year, many are optimistic that lessons learned during the pandemic will help them weather whatever lies ahead.
Q1 2023
While the $50 billion CHIPS and Science Act was formulated to encourage domestic investment in the semiconductor industry, “the legislation may serve as a gateway to increase investment and encourage more domestic production in adjacent industries,” say consultants at Deloitte who have the “last word” in our Q1 issue.
For the first time, our Corporate and Consultants surveys also asked the respondents to rate the importance of DEI and ESG initiatives, with between 40 and 50 percent of each group confirming the importance of these initiatives among the site selection factors. In this issue’s cover story, David Hickey of Hickey & Associates, explains how business leaders can utilize location strategy as part of their ESG mission.
Nearly two thirds of the respondents to our Consultants Survey claim they work with automotive/battery manufacturers on their location and investment projects. We continue our look at the evolving EV/battery sector in a special section in this issue. Fleet electrification is the latest disrupter, which is also helping organizations meet their ESG goals — from last-mile deliverers to utility companies to school districts.
As we move toward the end of 2023’s first quarter, views on the economic outlook continue to diverge. A February measure of CEO confidence by the Conference Board indicates that although 93 percent of CEOs are preparing for a recession, they feel it will be brief and shallow. It’s hoped that lessons learned during the pandemic about controlling costs, addressing supply chain woes, and embracing innovation will help business leaders to weather whatever lies ahead.
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Geraldine Gambale, Editor, Area Development Magazine
Geraldine Gambale has overseen the editorial operations at Area Development magazine for 27 years. Under her direction, the publication has provided valuable site selection and facility planning information to its corporate readers through insightful articles and advice from industry experts, as well as from those who work in the economic development field. Her meetings with high-level government and industry officials in the United States and abroad have provided a prospective of what’s behind companies’ location and expansion decisions. She is also responsible for conducting and analyzing the results of Area Development’s highly regarded Annual Corporate and Consultants surveys. Prior to joining Area Development, Ms. Gambale worked in the banking industry. She holds a BA in English from Queens College of the City University of New York.
Project Announcements
Taiwan-Based Hota Industrial Manufacturing Plans Santa Teresa Borderplex, New Mexico, Operations
07/05/2023
Mitsui High-tec (Canada) Plans Expands Brantford, Ontario, Operations
07/05/2023
Bakery Express MidWest Establishes Boone County, Kentucky, Operations
06/30/2023
Eastern Light Distilling Establishes Rowan County, Kentucky, Operations
06/30/2023
France-Based Mersen USA Expands Bay City-Greenville, Michigan, Operations
06/30/2023
Musser Biomass and Wood Products Expands Wythe County, Virginia, Operations
06/30/2023
EAM-Mosca Expands Luzerne County, Pennsylvania, Operations
06/30/2023
