Ambrit 2016 by BritishAmerican_Business

American British Trade & Investment The Guide to Investing in the USA

2016

1 WELCOME

LONDON 12 Phillimore Walk, London W8 7RX Tel: +44 (0) 207 290 9888 Email: ukinfo@babinc.org Twitter: @BABLondon

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To view this publication online, visit: tradeinvest.babinc.org/ambrit

For editorial or advertising enquiries, please contact the editor, Brian Mawdsley, at bmawdsley@babinc.org or call +44 (0) 20 7290 9872

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No part of this publication may be reproduced in any form or by any means without the permission of BritishAmerican Business. Written permission must be obtained before any part is stored in a retrieval system. The opinions expressed in the publication are not necessarily those of BritishAmerican Business who has endeavoured to ensure all information is accurate, but cannot take responsibility for any mistakes or omissions. BritishAmerican Business does not accept responsibility for the advertising content of this publication.

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REGIONS

American British Trade & Investment is published by BritishAmerican Business (BAB), an organisation formed in 2000 through the merger of the American Chamber of Commerce (UK) and the British American Chamber of Commerce (US). BAB comprises the London and New York chapters of the British-American Business Council (BABC); is the UK member of the European Council of American Chambers of Commerce (AmCham EU) and secretariat for the UK All Party Parliamentary Group on EU-US Trade & Investment.

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Refreshing advice. Refreshing advice.

Today’s environment requires fresh thinking—and now, not tomorrow. At Deloitte, we recognize that extraordinary times call for extraordinary service. Find out why leading businesses around the world turn to us for ideas, execution, and tax professionals who understand the tough challenges facing global employers. www.deloitte.com Today’s environment requires fresh thinking—and now, not tomorrow. At Deloitte, we recognize that extraordinary times call for extraordinary service. Find out why leading businesses around the world turn to us for ideas, execution, and tax professionals who understand the tough challenges facing global employers. www.deloitte.com

About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting. About Deloitte Copyright © 2014 Deloitte Development LLC. All rights reserved. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited Member of Deloitte Touche Tohmatsu Limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting. Copyright © 2015 2014 Deloitte Development LLC. All rights reserved. Member of Deloitte Touche Tohmatsu Limited

CONTENTS

WELCOME

Contents

8 – 10 Welcome 8

Welcome to American British Trade & Investment 2016 Nicholas Walsh, Chair of BritishAmerican Business

Vinai Thummalapally

Dr Catherine Raines Chief Executive, UK Trade & Investment

11 – 41 Practical Advice UKTI’s Guide to Doing Business in the US

Forecast on the US Economy by the CBI

Global Mobility – Addressing Tomorrow’s Challenges Today

US Immigration Law – Modernising the US Immigrant Visa System

Aerospace – Aerospace and Defence Ties Remain Strong

Automotive – Disruptive Innovation and How it’s Changing Automotive

Medical Devices – Spotlight on the Medical Device Industry

University Research Parks – Innovation, Investment

REGIONS

PRACTICAL ADVICE

Executive Director, SelectUSA

and the University Research Park 34

University Technical Transfer – The Economic Impact of Academic

Renewable Energy – Collaboration in Innovative Renewable Energy Development Between the UK and USA

US Foreign-Trade Zones – FTZs Offer an Attractive Harbour for Global Companies

HOW WE CAN HELP

Technology Transfer, a Positive Impact from Research Investment

USEFUL CONTACTS

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Th e mi s s i n g p i ece i n you r i nter n at i on al l eg al p l an .

With offices in New York and San Francisco and associated law firms in London and Geneva, we are positioned to help our clients achieve their legal and business goals » » » » » » » » »

Antitrust and Product Distribution Business Emerging Business Legal Services Immigration IP: Trademark, Copyright and Anti-Counterfeiting Labor & Employment Litigation & Dispute Resolution Private Client Real Estate

Tax & Employee Benefits

Attorneys at Law 665 Fifth Avenue New York, NY 10022-5305 212.688.5151 Fax: 212.688.8315 www.gibney.com

CONTENTS

Map of the US

Arkansas

SelectUSA – Positioning to

Louisiana

Generate US Growth and Jobs

Oklahoma

US State Economic

Texas

Cedar Hill, TX

Conroe, TX

Frisco, TX

Development Websites

48 – 65 North Atlantic Region 50

New York – Gov Andrew Cuomo 51

State Proﬁle

Maryland – Gov Larry Hogan 53

90 – 115 Mid-West Region 92

State Proﬁle

Connecticut

Delaware

Maine

Massachusetts

New Hampshire

New Jersey

Pennsylvania

Rhode Island

Vermont

Virginia

West Virginia

91 95

Kansas – Gov Sam Brownback 96

State Proﬁle

Minnesota – Gov Mark Dayton 91

State Proﬁle

100 Wisconsin – Gov Scott Walker 101 State Proﬁle 103 Kentucky 106 Indiana 107 Iowa 108 Michigan 109 Missouri

Alabama – Gov Robert Bentley 69

Florida – Gov Rick Scott 72

State Proﬁle

111 North Dakota 112 Ohio 113 City of Mentor, OH 114 South Dakota

HOW WE CAN HELP

110 Nebraska

66 – 79 South East region

REGIONS

Illinois – Gov Bruce Rauner

PRACTICAL ADVICE

80 – 89 South West Region

WELCOME

42 – 47 Regions

South Carolina – Gov Nikki R. Haley 75

Georgia

Mississippi

North Carolina

Tennessee

USEFUL CONTACTS

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State Proﬁle

BECAUSE NEW YORK NEVER STOPS. YOU DONâ&#x20AC;&#x2122;T HAVE TO. Fly nonstop to New York nine* times a day.

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CONTENTS

117 Arizona

WELCOME

116 – 129 Western Region

118 California 119 Colorado 120 Idaho 121 Montana

123 New Mexico 124 Oregon 125 Utah 126 Washington 127 Wyoming

PRACTICAL ADVICE

122 Nevada

128 Alaska 129 Hawaii

130 – 139 How we can help 132 U.S. Commercial Service John Simmons, Minister Counselor for Commercial Affairs at the American Embassy, London

REGIONS

130 BritishAmerican Business – The Company to Keep

133 Council of American States in Europe (CASE) Finn Weisse, President 134 Map of BABC Chapters in the US 136 Using the BABC to Build your Transatlantic Business and the British-American Business Council (BABC), 137 British-American Business Councils in North America 138 British-American Business Councils in the UK

139 – 145 Useful Contacts

HOW WE CAN HELP

Jeffries Briginshaw, Chief Executive, BritishAmerican Business

139 Organisation Index

USEFUL CONTACTS

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WELCOME

CHAIR’S WELCOME

Welcome to American British Trade & Investment 2015 I am delighted to welcome you to the 2016 edition of American British Trade & Investment, our guide for those UK companies looking to expand their operations with the United States, either through inward investment or through the expansion of their trade links. Throughout the 12 years of American British Trade & Investment, the United States has remained one of, if not the, prime overseas markets for UK companies looking to develop their international footprint. The options seem, and are, vast but sometimes more difficult to grasp than you might think. We hope, therefore, that in its small way this publication can answer some of your questions as to “how and where”. Our organisation, BritishAmerican Business (BAB), was formed back in 2001 through the merger of the American Chamber of Commerce (UK) and the British American Chamber of Commerce (NY) and through this period we have established ourselves as the premier membership organisation for transatlantic business development. Our continuing high quality programme of content-rich events enables our members to build new relationships and strengthen old ones. Our programme includes top-level C-suite roundtables with business leaders and government decision makers, and outstanding thought leadership events and forums. We have, over recent years, played a proactive leadership role for the EU-US Transatlantic Trade and Investment Partnership (TTIP), which we believe offers significant potential benefits to our members and for the UK, EU and US economies at large. As the political opportunity arises ahead of the 2016 US Presidential election, we will continue to support TTIP within and beyond our membership. Our trade and investment activities are supported by a dedicated website (tradeinvest.babinc.org). This has three portals - Investing in the US, Investing in the UK and TTIP news and views. We hope that you will find it a useful information source. On policy issues we are active on those matters of ongoing concern to our members through any worthwhile way that may facilitate Transatlantic business. We work alongside partners representing all key business stakeholders, including central government, major trade associations and other business interest groups. Our American British Trade & Investment guide to investing in the US provides an introduction to the wealth of knowledge available through our members and business partners. It includes contributions from our members, US federal and state government departments, UK Trade & Investment and from leading trade bodies to include such subjects as taxation, immigration, aerospace and defence, automotive and renewable energy. After 15 years as the publisher and editor of BAB’s trade and investment guides, Brian Mawdsley will be retiring in spring 2016 and I know you will join me in wishing him well and thanking him for the considerable effort to bring you this guide, through good and bad times. Please also watch our communications spaces for exciting news on how BAB will be expanding its trade and investment profile. As always in this report, we have aimed to reflect and support our two countries’ truly exceptional partnership. We hope you will find it a useful resource for your own business and, if you don’t know us already, a helpful introduction to our organisation. For further information, please contact: New York 52 Vanderbilt Avenue 20th Floor New York NY 10017 Tel: +1 212-661-4060 Email: nyinfo@babinc.org Twitter: @BABNewYork Website: www.babinc.org

London 12 Phillimore Walk London W8 7RX Tel: +44 (0) 20 7290 9888 Email: ukinfo@babinc.org Twitter: @BABLondon

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FOREWORD

The investment relationship between the United States and the United Kingdom continues to be an integral part of our uniquely strong partnership. As of 2014, there was nearly $588 billion in total investment stock from US companies in the UK and almost $466 billion in stock from the UK in the United States â&#x20AC;&#x201C; more than any other country. British businesses employ 962,900 Americans, while also helping to drive innovation through roughly $6.6 billion in annual R&D spending in the United States. Businesses from the UK and all over the world have recognised the immense opportunity offered by the US market. This became even clearer in 2015 as US economic growth continued. These sentiments were echoed by global executives in A.T. Kearneyâ&#x20AC;&#x2122;s latest Foreign Direct Investment (FDI) Confidence Index, which awarded the United States the top ranking for the third straight year. 2015 was also an important year of growth for SelectUSA, as we strengthened our efforts to assist British businesses. In March, President Barack Obama and six Cabinet Secretaries welcomed investors from more than 70 international markets to the SelectUSA Investment Summit. The British delegation was personally led by US Ambassador Matthew Barzun. The event featured high-level speakers, matchmaking with more than 1,700 business meetings, and an exhibit hall showcasing investment opportunities from every corner of the United States. We hope you will join us for the 2016 SelectUSA Investment Summit, scheduled for 19-21 June in Washington, DC. SelectUSA is also active on the ground in the UK, so follow @SelectUSA and @SelectUSATech on Twitter to catch up on our latest events. Together with the team at the U.S. Embassy in London, we can help you find the information you need to make decisions about investing, connect you to the right people at the local level and navigate the federal regulatory system. Thank you for your interest. If you are considering starting or expanding operations in the United States, this Guide is a great place to start. I commend our friends at BritishAmerican Business, and I look forward to continuing our work to support the vibrant economic partnership between the United States and the United Kingdom. Sincerely,

Vinai Thummalapally Executive Director, SelectUSA U.S. Department of Commerce

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WELCOME

Vinai Thummalapally, Executive Director, SelectUSA

WELCOME

FOREWORD

Dr Catherine Raines, Chief Executive, UK Trade & Investment (UKTI) UK Trade & Investment (UKTI) has a long standing partnership with BritishAmerican Business. We share a common commitment to strengthening ties between the UK and US, promoting trade and investment, and ensuring that UK businesses are given the support and advice they need to succeed Stateside. This provides tangible successes and real growth for businesses on both sides of the Atlantic. Bilateral trade between the UK and US exceeded £138 billion in 2014 and this figure could grow significantly on completion of the EU-US Transatlantic Trade and Investment Partnership (TTIP), which has the potential to be the largest bilateral trade agreement in history. By sweeping away tariff barriers, and unnecessary regulation, TTIP will make it even easier for smaller exporters in particular, and give UK businesses greater access to over 300 million consumers in the US. Securing this trade agreement remains a top priority for the UK Government. Britain has a proud history as a great trading nation and there is a world of opportunity out there for our businesses, but too few are seizing the chances to export and grow. This needs to change. Our government has committed to supporting 100,000 new British exporters to sell their goods and services overseas by 2020 and one of UKTI’s responsibilities is to inspire businesses to take that first step. In November 2015, supported by major private sector partners, we launched our most ambitious export campaign ever. Called ‘Exporting is GREAT’, it is designed to get more British businesses exporting. Combining a multi-channel advertising campaign, an interactive digital platform and direct contact, we are presenting live export opportunities to businesses of all sizes, sectors and from every region of the UK – so they can apply immediately. UKTI and our partners will provide the advice and expertise to support those businesses on every step of their export journey, from initial interest to market. For a year, we will be travelling the length and breadth of the UK, giving face-to-face assistance to first-time exporters, and encouraging growth of existing peer-to-peer advice networks. UKTI’s extensive team in the US is supporting this new campaign, feeding in the latest business opportunities they have identified from a range of sectors. Our network of experts in nine locations throughout the country provide new and existing exporters with up-to-the-minute advice, guidance, contacts and access to sales opportunities. We keep track of market trends and are constantly reviewing and updating our services to reflect the needs both of supply and demand. For example we recently appointed a Cyber Security Envoy to the USA, the UK’s most important cyber market. Based in Washington DC, our envoy focuses specifically on helping small businesses and firsttime exporters, acting as a first point of contact for UK cyber business interests across the entire US market. Of course there is no substitute for exploring a market first-hand and UKTI leads regular trade missions to the US, enabling UK companies to discover the many opportunities that this dynamic market has to offer. Among those scheduled for the beginning of 2016 are a foodfocused trip centred on the Winter Fancy Food conference taking place in San Francisco and a mission to NY Now, a giftware and jewellery exhibition taking place in New York. Companies interesting in attending these, or subsequent missions should visit our campaign website www.exportingisgreat.gov.uk Potential exporters can also find out more about the US markets through our programme of online webinars, factsheets, guides and market research capabilities. These initiatives, coupled with a comprehensive range of tailored export support programmes are a great starting point for any small and medium-sized British company considering the US market. As this publication shows, opportunities in America for British goods and expertise have never been better. UKTI is here to help you find and make the most of them, so please get in touch and get started on your export journey. Dr Catherine Raines, FRSA Chief Executive, UK Trade & Investment

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UK TRADE & INVESTMENT

Destination USA

The US is the UK’s premier destination for overseas investment, and is also its largest single trading partner, with US/UK bilateral trade topping £138 billion in 2014. Hundreds of UK companies have established offices in the US, determined to take advantage of all that this vast market has to offer. The sheer size and scale of the US means that it should be treated as a series of regional markets with varying characteristics. However, apart from a few import quotas and strategic industry-ownership restrictions, UK firms face few barriers to doing business in the US. UK SUPPORT NETWORK UK Trade & Investment (UKTI) is the government organisation that supports UK businesses wishing to trade internationally, and overseas companies looking to invest and expand in the UK. UKTI provides expertise and contacts through a first-class network of specialists that can help UK companies realise their overseas trading ambitions. Your first point of contact is your local International Trade Team, made up of International Trade Advisers from both the private and public sectors plus their support staff, who are able to access on your behalf a range of support services to help you explore the US market.

Details of your local International Trade Team offices can be found here www.uktiofficefinder.ukti.gov.uk/contactSearch.html In the US, we have a network of UKTI offices, located at the British Embassy in Washington DC and eight consulates throughout the country covering three time zones. These are staffed with US trade and investment officers with sectoral, marketing and private sector experience who can also advise on local business conditions and practices, provide tailored information specific to your needs and help you gain access to key industry contacts to help you do business in the US. WHAT CAN UKTI OFFER? Thanks to our commercial expertise and unrivalled local access and knowledge, we can help UK companies initially assess whether they are ready to do business in the US and then support them in making their first steps into the market. Our services include: • Targeted outward missions to the US and support at trade shows • Bespoke research and in-depth analysis • Industrial knowledge, business contacts and local knowledge of requirements and business practices • Help in gaining access to US government at federal, state and local levels

New York City Mayor DeBlasio and HRH The Duke of Cambridge with the 2014 GREAT Tech Award Winners in December 2014

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PRACTICAL ADVICE

UK Trade & Investment’s Guide to Doing Business in the United States

UK TRADE & INVESTMENT

PRACTICAL ADVICE

ENTRY REQUIREMENTS The US currently operates a Visa Waiver Program (VWP), which enables most British Citizen passport holders to visit the US without a visa if they are travelling on business, pleasure or transit for less than 90 days, with a valid return or onward travel ticket. Visa-free travel does not include those who plan to study, work or remain in the US for more than 90 days. Application must be made through the U.S. Customs & Border Protection’s Electronic System for Travel Authorization (ESTA) (esta.cbp.dhs.gov/esta). A fee of $14 is required ($10 application and $4 processing). Visa-free travellers, including children, entering the US under VWP require fully valid, machine readable passports or e-passports with an electronic chip. Passports issued on or after 26 October 2006 must also include an integrated circuit chip capable of storing the biographic information from the data page, a digitised photograph, as well as other biometric information. For further details visit the US Embassy website (www.usembassy.org.uk). WORK PERMITS UK companies are cautioned that, due to regular overviews of US immigration policy, regulations can quickly change. It is therefore wise to seek up-to-date advice from a US immigration attorney before applying for any visa. UK firms should carefully select the business visa appropriate for their own and their employee’s long-term needs. For example, some business visas allow the employee to eventually apply for and acquire a permanent resident green card, while others do not. Similarly, some visas, but not all, require annual renewal. Moreover, certain visas can only be acquired for a limited number of years. UK companies should also ensure that employees who frequently visit the US in order to attend trade shows and other business meetings obtain the correct kind of visa. FORMING A COMPANY Given the size of the US market, UK companies often choose to set up a US trading company, or subsidiary, to act as the coordinator of their other distribution channels, such as sales agents, distributors and strategic partners. When properly established and managed, such a company can provide the following advantages for UK firms: • Credibility with US customers • Maximum control over how the brand name and image is established in the US • Good local contact with US customers • Good forecasting regarding production and delivery COMPANY TAXATION All goods entering the US are subject to duty on their dutiable value unless specifically exempted by law. Dutiable value is determined in various ways and a good’s duty varies according to how it is classified; classification and valuation of goods is the responsibility of the importer. U.S. Customs & Border Protection (www.cbp.gov) will then determine the relevant duty. Goods cannot leave the port of entry until this has been done (liquidation). After liquidation, importers have 90 days in which to appeal. Reductions in the duty on goods that have been imported from the US to the UK and then combined with UK goods, are available for the value of components manufactured in the US.

HM Revenue & Customs (www.hmrc.gov.uk) can help you locate your local Customs Advice Centre and your local Excise and Inland Customs Advice Centre, which is the first line of enquiry for routine tariff classification advice down to the sixdigit Harmonised System subheading level, used worldwide. The Customs Classification helpline can also provide advice on tariff classification numbers. It is open from 08.30-17.00, with a voicemail service available at other times. Tel: +44 (0)1702 366 077 The European Commission’s Market Access Database (madb. europa.eu/madb/indexPubli.htm) gives tariff information for many non-EU countries, including the US. It also has an Exporters Guide to Import Formalities section, which gives an overview of import procedures, as well as any general and specific requirements for a product. You can also check the US International Trade Commission database (dataweb.usitc.gov) to review US duties. Sales tax US sales tax is determined state by state. Some states have no sales taxes at all. For more information visit the website of the Federation of Tax Administrators (www.taxadmin.org). Additional taxes Many US states impose an annual franchise tax on corporations incorporated and doing business there, and that are registered with the Secretary of State. Franchise taxes are usually based on the amount of the capital stock, but can also be calculated on bases such as gross receipt, net income and net worth. Real estate and personal property are subject to taxes whether or not the property is used in the business. Employees must pay unemployment taxes into a fund that provides compensation payments to the unemployed. The taxes are levied based on the “experience ratings” of the company’s employees. There is also a federal unemployment tax which is reduced by the amount of tax paid to the state. UKTI GRANTS AND ASSISTANCE Business Opportunities Exporting is GREAT exists to help more first-time UK exporters like you make exporting work for them. Visit www.exportingisgreat.gov.uk now to access live business opportunities around the world, training sessions, business seminars and other events, as well as specialist trade services and support. Tradeshow Access Programme (TAP) TAP gives grant assistance to new UK exporters seeking to enter the US and other overseas markets by taking part in overseas exhibitions. Financial support is limited to SMEs. Eligible companies can receive a grant of up to £1800 (for separate UKTI-supported exhibitions) to help them acquire knowledge and experience of exhibiting effectively in the US as part of their longer-term export strategy. Visit www.gov.uk/ tradeshow-access-programme for more information. Events & Missions UKTI’s events portal (www.events.ukti.gov.uk) provides a single calendar view of all UKTI events globally – some 400 activities annually. It provides companies with detailed information to help them decide on the most appropriate events to attend. The calendar can be filtered and searched by sector and/or market, with links to detailed events websites that allow users to register for an event.

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UK TRADE & INVESTMENT

UK TRADE & INVESTMENT HAS NINE LOCATIONS ACROSS THE US Houston British Consulate-General Wells Fargo Plaza 1000 Louisiana Suite 1900 Houston, TX 77002 Tel: +1 713-659-6270

Boston British Consulate-General One Broadway Cambridge, MA 02142 Tel: +1 617-245-4500

Los Angeles British Consulate-General 11766 Wilshire Boulevard Suite 1200 Los Angeles, CA 90025-6538 Tel: +1 310-481-0031

Chicago 625 N Michigan Avenue Suite 2200 Chicago, IL 60611 Tel: +1 312-970-3800

Miami British Consulate-General 1001 Brickell Bay Drive Miami, FL 33131 Tel: +1 305-400-6400

Overseas Market Introduction Service (OMIS) OMIS (www.gov.uk/overseas-market-introduction-service) is a worldwide chargeable service that puts UK companies directly in touch with UKTI’s overseas staff, who can provide focused business advice, information and visit support. OMIS can provide a flexible blend of preparatory advice and research, and support when you visit the market. As in other countries, our US officers will propose a programme of support and advice that fits your requirements. This could include an analysis of possible market-entry strategies, identification of potential business partners, arrangements of appointments, and advice on competitors, local regulation and standards. They can also advise on local events, and finding relevant tender opportunities.

New York British Consulate-General 845 Third Avenue New York, NY 10022 Tel: +1 212-745-0200 San Francisco British Consulate-General 1 Sansome Street Suite 850 San Francisco, CA 94104 Tel: +1 415-617-1300 Washington DC British Embassy 3100 Massachusetts Avenue NW Washington DC 20008 Tel: +1 202-588-6500

www.gov.uk/ukti

Companies can access government advice with that of existing exporters, prospective exporters and private sector service providers. These might be lawyers, accountants and independent trade advisors. Companies can collaborate with other companies and share advice and ideas around exporting. It offers four clear benefits: • Bespoke answers to meet business needs in new markets • Access to practical information on all the important export topics from getting started through to cultural essentials • A place to connect and engage with a range of exporters and service providers • The latest international business opportunities

Open to Export

For further information, visit:

Open to Export (OpentoExport.com) is an innovative online community that brings together exporters, with public and private sector service providers, all together in a single place.

www.gov.uk/ukti

“ Exporting is GREAT exists to help more first-time UK exporters like you make exporting work for them” tradeinvest.babinc.org

ADDITIONAL INFORMATION UKTI offers a number of helpful publications (www.gov.uk/government/publications) on doing business in the US. They include: Exporting to the USA, Preparing for a Successful US Trade Show, Marketing in the USA, US Product Liability Law, Tax Considerations, and Negotiating Technology Transactions with US Businesses.

PRACTICAL ADVICE

Atlanta British Consulate-General Georgia Pacific Center Suite 3400 133 Peachtree Street, NE Atlanta, GA 30303 Tel: +1 404-954-7700

US ECONOMIC OUTLOOK

PRACTICAL ADVICE

Two Steps Forward, One Step Back

By Ben Jones, Senior Economist, CBI, November 2015 The US is enjoying its sixth year of recovery following the Great Recession, but against a sluggish global backdrop there are signs that the US is also becoming a two-speed economy. A buoyant labour market and low inflation should ensure that household spending remains firm and continues to underpin a solid expansion into 2016. But the more externally-exposed industrial sector is facing headwinds from a stronger dollar and weakening emerging market demand, with lower global oil prices hitting investment in the energy sector. Together these factors are expected to peg back growth to 2.6% in 2016. SITTING IN LIMBO Economic forecasting is not easy at the best of times, but is especially difficult at the moment. Six years on from the financial crisis, the global economy is still struggling to regain momentum, and there is little consensus over the causes of this prolonged weakness. In one camp are economists that see a chronic shortage of demand, resulting from a savings glut, a failure to invest or a long-term slowdown in the rate of technological progress and innovation. Others see sluggish economic activity as stemming more from the balance sheet problems of recent years. Neither theory can claim a monopoly on the evidence, but which one is closer to the truth matters because the possible remedies are different. The traditional demand management policies to deal with a world of “secular stagnation” and persistent deflation may not be effective if the weakness is more a by-product of the financial cycle. On the latter view, activity should pick-up once the headwinds from debt-deleveraging subside, provided that supply-side impediments to growth are addressed. So like Schrödinger’s cat, the global economy appears simultaneously dead and alive, and we may not know which until many years hence. Deciding where the US fits into this global story has split opinion too. Depending on where you look, you could be forgiven for thinking that the US was teetering on the edge of another slowdown. Financial markets were volatile in autumn 2015, with stock prices under pressure and demand for risky assets drying up. Business surveys have softened and the US corporate reporting season has provided its share of disappointments. But a strong case can be made for an alternative view that sees the US as being well down the road to repair and able to withstand the headwinds blowing from overseas. Policymakers have been struggling to make sense of the data too. Concerns about developments in emerging markets (especially China) helped to persuade the Fed to hold back

from raising interest rates in September 2015, against widespread expectations for the first hike in rates since 2006. Having been the main driver of global growth for over a decade, the Chinese economy is clearly at risk of a harderthan-expected landing, as it makes a tricky transition from state-led investment to a more consumer-led economy. And the outlook for many other emerging markets is also mixed, amid low global commodity prices, weak exports and difficult economic reforms. The possibility of higher interest rates in the US has also been luring capital back to the US, putting pressure on the dollar and crimping demand for US exporters, effectively doing some of the Fed’s work for it. With financial markets having recovered somewhat since September, all eyes are now on the December meeting of the FOMC, which is shaping up to be one of the most pivotal of recent years. A decision to raise interest rates will be seen across the globe as a vote of confidence in the resilience the US recovery: a sign that the strength of demand from American consumers is sufficient to ensure a return of modest inflationary pressure. By contrast, a decision to hold rates steady could imply doubts about whether the above-trend growth of recent years can be maintained, putting further progress toward the Fed’s employment and inflation goals at risk. And if a Fed-hold in December is taken as a sign that interest rates could remain close to zero for a much longer period, debate will intensify about the further options for monetary easing, in the event that a downturn takes hold. THE US SHOWS SIGNS OF LIFE Adding to the difficulties in tracking the progress of the US economy this year have been a host of one-off events and temporary distortions to headline output data. Growth at the start of 2015 was depressed by bad weather and the strikes at West Coast ports (real GDP growth came in at a feeble 0.6% annualised). And after a strong rebound in Q2 (3.9%), GDP growth again disappointed in Q3, rising by a below-par 1.5%. But the underlying picture in Q3 was not so gloomy. Personal consumption spending increased at a healthy rate (3.2%), as did residential investment (6.1%). This suggests that demand from US households held up well. Business investment was softer (rising 2.1%) and with exports slowing sharply, the contribution of net trade was marginally negative. But the main factor dragging down growth was an inventory correction, which subtracted a substantial 1.4% points from headline growth. Stripping out the impact of net trade and inventories, final domestic sales rose by 2.9%, suggesting little sign of a downturn in underlying demand. Underlying growth at this pace was broadly in line with the average for the last two years and was comfortably above estimates of the US’s potential growth rate over the mediumterm (a little below 2%). Our forecast assumes that US growth

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US ECONOMIC OUTLOOK

sliding from a 15-year high of 324k new jobs per month in December 2014 to 187k by October. But the unemployment rate has still continued to fall over this period, reaching a sevenyear low of 5%, only marginally above the level estimated by the Fed to be consistent with full employment (4.9%). With the US economy now operating much closer to its potential, some slowing in the pace jobs growth was to be expected. And looking ahead, jobs growth of around 100k per month (or less) should be enough to push down the unemployment rate further.

HOUSEHOLD DEMAND WILL UNDERPIN GROWTH Many of the recent concerns over growth have focussed on the weakness of the industrial sector, which has contracted steadily throughout 2015, as lower global energy prices have thrown petroleum production into reverse, and softer external demand combined with a stronger dollar caused output growth in the manufacturing sector to stall. By October 2015, for example, the ISM index of manufacturing activity had dropped to 50.1, its lowest level in almost three years (close to the 50 nochange mark). The forward looking orders index offered some reassurance of a slight improvement (52.9), but export orders remained in contractionary territory (47.5). So far, however, there appears to have been a fairly limited spill-over to the services and household sectors. The ISM non-manufacturing index – which covers activity in a range of service sectors, construction, utilities and mining – has softened a little since mid-2015, but rebounded in October to a level consistent with solid growth (59.1). Indices of consumer confidence are generally holding up. And, reflecting a recovery in residential investment, in October the NAHB homebuilder sentiment index hit the highest level since 2005. All of this is reassuring for the outlook. Household demand is providing the main support to the ongoing upswing, with annual growth in real consumer spending averaging 3.3% over the past four quarters. Against a backdrop of robust consumer confidence and low inflation, consumer spending is expected to continue to power the US economy over 2016. The labour market remains a source of strength. True, the growth in non-farm payrolls has slowed as 2015 has progressed, with the three-month moving average

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Another puzzle, given the fall in employment, has been why wage growth has remained so subdued, having been stable around 2% for much of the past five years, despite the broader improvement in the labour market during this time. Although wage growth finally showed signs of moving higher in October, jumping to 2.5%, this remains far below rates above 3% typically seen when the economy has achieved full employment. This has led to some scepticism over whether the “Phillips Curve” – the long-run relationship between unemployment and wage or price inflation – provides any grounds for expecting inflationary pressure to rise over the near-term. However, recent research from Goldman Sachs using localised data illustrates that the relationship still holds true, with states and cities with low unemployment generally seeing the fastest wage growth. Looking ahead, therefore, there are still good reasons to expect a further pick-up in wage growth as the labour market tightens. Stronger income growth will be crucial to sustaining demand over the next couple of years, particularly as the household savings ratio has drifted down during 2015. Household purchasing power will receive continued support from low inflation in the near-term: the Fed’s preferred inflation measure (PCE) has hovered just above zero through 2015 (standing at just 0.2% in September), with core PCE inflation steady at 1.3%. With faltering Chinese demand causing a renewed slide in prices for oil and other commodities, and the dollar appreciating again, inflationary pressures are likely to remain low for a while yet, but the impact of past falls will begin to unwind in the coming months, and strengthening activity and base effects will push inflation back towards 2% during 2016. In the absence of stronger wage growth, purchasing power will be squeezed. INVESTMENT GROWTH WILL REMAIN MODERATE A stronger recovery in wages should also feed through to residential investment. Housing market activity disappointed in 2014, but has strengthened during 2015. The Fed’s Senior Loan Officer Opinion Survey for Q3 2015 pointed to a sixth consecutive quarterly easing of mortgage lending standards. Rising household incomes, combined with low interest rates and moderate house price inflation, should help ease affordability constraints, and further reduce risk aversion among lenders. This should allow activity to rise more in line with underlying demand than has been the case in recent years (as implied

PRACTICAL ADVICE

will continue to clear this (relatively low) bar over the next year or so. Domestic demand is likely to remain on a firm footing as low inflation, rising consumer spending, higher government spending and stronger housing investment compensate for moderate growth in business investment and a continuing drag from net exports. With growth set to remain above trend, the amount of spare capacity in the economy should therefore be reduced gradually (the output gap is currently estimated at around -2.8% of GDP). This would provide justification for the Fed to begin withdrawing the extraordinary monetary stimulus of recent years. Indeed, we expect interest rates to go up from December, but we also see a very gradual path for subsequent hikes, with interest rates unlikely to reach their long-term neutral rate (around 3.5%) until the end of the decade.

In past economic cycles, the Fed has started raising interest rates well before unemployment reached such a low level. So what is different this time? One factor is concern that some of the fall in unemployment has been due to people withdrawing from the labour market – as evidenced by the fall in the labour participation rate from over 66% before the financial crisis to 62.4% today. According to the Council of Economic Advisors, around half of this decline can be explained by early retirements among the baby-boomer generation and cyclical effects, a good chunk, however, remains unexplained. The risk over the medium-term is that a large number potential US workers are either unwilling or unable to seek work (possible explanations include low wages, high transport costs or a lack of affordable childcare).

US ECONOMIC OUTLOOK

12 MONTH % UNLESS OTHERWISE STATED

PRACTICAL ADVICE

GROWTH AND CONSUMPTION REAL GDP

2014

2015

2.4

HOUSEHOLD CONSUMPTION

2.7

3.2

FIXED INVESTMENT

4.1

4.2 0.2

GOVERNMENT CONSUMPTION

-0.5

EXTERNAL TRADE EXPORTS

3.4

IMPORTS

3.8

5.4

CPI INFLATION

1.6

0.2

UNEMPLOYMENT RATE (%)*

6.2

5.3

FEDERAL BALANCE (% OF GDP)*

-2.9

-2.5

FEDERAL FUNDS RATE (%)*

0.1

* Annual average

by demographic trends). Encouragingly, household formation has picked up during 2015, rising above its long-run rate. An improving economy should encourage more young people to leave home, buy (and furnish) their own apartments and houses in the years ahead. The outlook for business investment is more mixed. Declines in oil drilling activity (around 11% of total business investment) have weighed heavily on business investment, with annual growth over the last four quarters slowing to 3.8% from 5.8% a year earlier. Spending on structures has been particularly hard hit, with growth practically stalling over the past year (0.8%), while equipment spending has also slowed (3.4%). The only component showing stronger growth over the past year is investment in intellectual property products (6.6%). The shake-out in the US energy sector still has some way to go. The number of US oil rigs fell by more than half over the year to October 2015, hitting its lowest level for five years. With oil prices expected to remain close to $50 per barrel through the first half of 2016, the sector is likely to remain a drag on growth in the near-term. But the medium-term picture remains brighter. The U.S. Energy Information Agency predicts that production will continue to fall further through the middle of next year – due to “unattractive economic returns” – but the decline is coming from a strong base, with expected total US oil production of 9.3m barrels per day in 2015, nearly double the amount pumped as recently as 2008 and the highest level since 1972. Moreover, while normal oil production has a steep supply curve (with high fixed investment costs, long lead times, and low decline rates if price falls) shale is the opposite. Short lead times, low investment costs and the relative ease with which extraction can be paused means that US shale producers can quickly ramp up production should prices begin to rally meaningfully higher. Outside the oil sector, US firms should be able to count on sustained growth in consumer demand, but a number of factors suggest business investment growth will remain moderate. High frequency indicators, such as durable goods orders and investment intentions, have generally softened over the past year. And though profit margins remain high, overseas earnings have taken a hit from the stronger dollar and an emerging market slowdown. The impact of these trends varies across firms and sectors. Overall, US firms get around one third of their revenues from overseas, but less than 10% of foreign sales come from emerging markets, according to recent research from HSBC. The sectors most exposed to weaker emerging market demand include information technology, materials, energy and industrials, whereas sectors such as healthcare, financial services, utilities and telecommunications are more heavily focussed on the domestic market.

2016

Another factor that could weigh on business investment is the health of corporate balance sheets. With the Fed having kept its benchmark 3.0 interest rate at near-zero for the last seven 5.1 years, US firms have loaded up on debt, with 0.3 non-financial corporate debt rising to 44% of GDP by mid-2015, within spitting distance of the 2.9 pre-financial crisis peak of 45% in 2009. While 4.1 firms may have been taking advantage of low 2.2 interest rates to refinance more expensive debt, their ability to service this debt (as measured 4.8 by interest coverage ratios) is nonetheless at its -2.4 lowest since 2009, according to data compiled 0.5 by Bloomberg. This raises some questions about how companies will cope if, or rather when, borrowing costs begin to rise. The Fed’s latest Senior Loan Officer Survey suggests that credit standards on commercial and industrial loans tightened over Q3 for the first time since early 2012. High debt loads could prove to be a significant drag on the economy if earnings growth slows further and investors cut back on corporate lending. 2.6

AND THE EXTERNAL SECTOR WILL BE A DRAG On balance, the US economy seems in reasonable shape. An improving labour market and a pick-up in wage growth are expected to support consumer spending, which should encourage businesses to maintain investment spending. The main weak spot is net trade, which has already subtracted about 0.7 percentage points from GDP growth over the last year. This reflects a combination of the slowdown in China and other emerging markets, a hesitant recovery in the euro zone, as well as the appreciation of the dollar’s external value by 16% since mid-2014 (on a trade-weighted basis). Given our assumption that the Fed will raise interest from late-2015, and that the ECB is likely to scale up QE to counter economic weakness and deflationary pressures in the euro zone, policy divergence is likely to put further upward pressure on the dollar further in the year ahead. With relatively strong domestic activity expected to continue pulling in imports, the drag from net exports is likely to increase therefore. The most significant risk to this outlook is the prospect of even weaker global conditions, and that this deals a more serious blow to confidence in the US. In particular, the extent of the slowdown in China remains a key unknown. Although the direct impact is likely to be fairly limited – exports to China account for 7% of US exports, or around 1% of its GDP – the impact could be magnified given the importance of Chinese demand to other emerging markets, as well as by the potential for capital flight to push up the dollar further. These factors could ultimately offset any benefit to US consumers and businesses from continued low prices for oil and other commodities. And if the divergence in economic prospects and policy looks like persisting, the Fed could respond by pausing the process of monetary policy normalisation. It may even have to reverse course. We may find we need to deal with the prospect that Schrödinger’s cat is dead, after all. For further information visit www.cbi.org.uk or contact Ben Jones, Senior Economist, CBI at ben.jones@cbi.org.uk

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GLOBAL MOBILITY

Addressing Tomorrow’s Challenges Today: The Future of Global Mobility

Talent mobilisation – getting the right capabilities to the right work at the right time in the right place – is a hot topic for today’s business leaders, as they face an increasingly global workforce with less traditional boundaries, greater fluidity, and increased diversity. Organisations need innovative deployment models to manage the global supply and demand of talent and to close gaps between opportunity and capability. The global mobility team within HR, with deep cross-border talent expertise, could be a key business partner in working to solve these challenges and enabling broader organisational goals. To do so, however, mobility must be agile, businessaligned, and focused on the strategic mobilisation of talent around the globe. This is easier said than done. Deloitte surveyed leading global companies on the evolving role of global mobility in achieving strategic business and talent objectives in 2012 and again after two years. Despite continued strong agreement on the need to align mobility to the business, and committed efforts to move in that direction, the survey results reveal that participants rating their programmes as “world-class” have only risen from 2% in 2012 to 8% in 2014. How can there be so little progress when so many companies and leaders are investing so much into improving mobility programmes and practices? We discovered two different, yet related, answers to this question. First, it is not that mobility is not advancing the ball down the field, but rather that the goalposts keep moving. In

other words, the expectations of mobility programmes and professionals keep evolving. The global economy is experiencing fast and fundamental changes, including transformations in the very nature of work, the workplace, and the workforce. Global mobility teams are hard-pressed to keep pace with these strategic changes, while also keeping up with the changing compliance and regulatory landscape. Second, the investments in global mobility tend to focus on optimising or transforming programmes and processes. To be sure, this kind of work is important for creating more effective and efficient mobility functions. But such an approach often falls short of creating the true strategic business partner that so many leaders agree is needed, because it does not achieve true strategic business alignment. To effect strategic change, global mobility must become aligned with broader business and talent strategy; global mobility must also become more agile to respond to new and unanticipated challenges. Leaders are finding success when they draw on their global mobility team’s cross-border knowledge to partner with other areas of talent and business to address broader priorities, such as growth, leadership succession, risk management, margin protection, talent development, diversity and inclusion, and innovation. Only then will mobility be prepared help solve both today’s and tomorrow’s challenges. TOMORROW’S CHALLENGES In a recent study sponsored by the UK Government’s Commission for Employment Skills, the German consultancy Z_Punkt examined future challenges and opportunities in the labour market, including implications for jobs and skills. The report highlights five global megatrends transforming business and work, summarised below. These are precisely the kinds of challenges moving the goalposts for mobility and facing leaders as they prepare for tomorrow. 1. Economic power is shifting to emerging economies. The high-growth opportunities of these markets will drive workforce migration, mining for capabilities and skills, and growth in knowledge workers far beyond today’s dimensions. 2. The digital transformation, including the ubiquitous communication and access to information it enables, will further decentralise work activity and production. 3. Shifting roles in value creation are producing a more complex business ecosystem. Successful companies will orchestrate talent inside and outside the organisation and will coordinate a “swarm” of value partners operating in virtual and fluid project teams.

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PRACTICAL ADVICE

By Jonathan Pearce, Principal and Nicole Patterson, Director of the Global Employer Services practice at Deloitte Tax LLP

GLOBAL MOBILITY

PRACTICAL ADVICE

4. O rganisations and employees will need to be more flexible. As younger generations balance work and life priorities with employers’ needs, organisations will need to rethink job incentives and rewards. Key elements of the “traditional” employeeemployer relationship will change.

Figure 1 B usiness-aligned mobility

5. D emographic shifts, global migration, and generational differences will drive expanding diversity in the workforce. In short, the global business landscape is becoming more dynamic, workforces are getting more diverse, and there are more ways and places to perform work than ever before. These megatrends and their implications are already affecting how organisations manage their global workforces and are sure to have an impact on the mobilisation of talent. IMPACT ON THE MOBILISATION OF TALENT These sweeping global changes are affecting global workforce management, with a subsequent impact on mobility. Organisations will need to broaden their view of the talent supply chain and become agile decision-makers able to find the optimal way to source talent from an expanding array of options. Creating awareness of this dynamic and supporting all constituents, including business and HR, is essential for enabling the organisation to fully leverage a diverse, mobile, and agile workforce. In fact, this awareness and support will be one of the most critical roles that mobility professionals will play within the organisation of the future. This critical contribution can take many forms, such as: 1. Providing data-driven mobility insights and workforce analytics to drive smart business and talent decisions for cross-border staffing. 2. Partnering with enabling talent functions to support an integrated view of talent supply and demand, and the identification of enhanced build-buy-borrow solutions to close talent gaps. Figure 2 E ffective talent solutions

3. Creating more sophisticated capabilities for delivering flexibility in assignments and benefits to enable nontraditional moves based on business needs. 4. Supporting and influencing the organisational diversity and inclusion agenda by enabling diverse individuals to participate in mobility and reaching and growing new and diverse talent. Together, these opportunities imply the need for a broader vision of “mobility” for the future. A VISION FOR THE FUTURE OF MOBILITY Like many corporate functions, the mobility function has long strived to evolve from a reactive, operational role to a proactive, business advisory role (Figure 1). In anticipation of tomorrow’s challenges, how can mobility and talent leaders create a more disruptive pace of change and close the large gap between current capabilities and expectations? The answer will take the collaborative effort of all the enabling talent functions. Similar to mobility, many other talent management functions, e.g. talent acquisition and succession planning, were born out of necessity. As business demands evolve, each talent function continues to deepen their services, creating communities with a wealth of specialised knowledge and expertise within an often defined boundary. This type of organisation structure also creates silos among the talent management functions, which presents a significant barrier for driving agile talent solutions able to respond to changes in work, the workplace, and the workforce. Organisations that aim to move the needle faster can integrate the four sub-functions and their programmes as part of a holistic talent strategy (Figure 2). This allows them to evaluate and pull the four “levers” of

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GLOBAL MOBILITY

Figure 3 Talent solution advisory

PRACTICAL ADVICE

acquisition, mobility, development, and succession planning in the right combination, to deliver effective talent solutions that address current and future business and talent needs. Each of these talent levers involves some tradeoffs amongst the criteria of fast, affordable and effective. For example, a “mobility solution” to fill skill gaps may be faster but also more expensive and less sustainable than a “development solution”. Making prudent decisions requires both strong business insight and deep understanding across the four areas. A talent solution advisory function or role that can bring forth the functional capabilities of all four areas to address the business or talent needs from an holistic perspective can fill that gap (Figure 3). Such integration at the advisory level enables an organisation to leverage and share functional strengths and resources and, most importantly, deliver effective talent solutions. For example, one of the strengths of mobility functions is transitioning employees (and their families) into new cultures and ways of working. Applying that same competency for coaching employees through other complex transitions can be valuable in other areas, such as inducting new employees or equipping employees to perform effectively new leadership roles as quickly as possible.

lays the foundation for further integration with other talent functions to achieve strategic mobilisation of talent. Leaders need this kind of business-aligned mobility to prepare to address tomorrow’s business and talent challenges today. For more information, contact Jonathan Pearce, Principal Global Employer Services Deloitte Tax LLP, New York, NY Tel: +1 212-436-3268 Email: jrpearce@deloitte.com Nicole Patterson, Director Global Employer Services Deloitte Tax LLP, San Jose, CA Tel: +1 408-704-2089 Email: nipatterson@deloitte.com Website: www.deloitte.com Twitter: www.twitter.com/DeloitteTax

MAKING IT REAL: BUSINESS-ALIGNED MOBILITY Leading organisations are beginning to see signs of success as they address new challenges and unanticipated changes in the workforce and workplace by leveraging mobility more strategically. Greater collaboration and integration is key, especially in impacting broader business and talent priorities such as deployment and staffing development, learning and development, global diversity and inclusion, leadership and succession planning, new market entry, mergers and acquisitions, and business analytics. Successful leaders start with why global mobility matters to their organisations, and then define an enterprise talent mobility strategy, including how mobility can best enable broader business and talent goals. The strategy then guides the design of mobility programmes and services, as well as

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This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte, its affiliates and related entities, shall not be responsible for any loss sustained by any person who relies on this publication. Copyright © 2015 Deloitte Development LLC. All rights reserved.

1 Deloitte Report: Strategic Moves: 3 Years Later – An Evolution in Global Mobility – www2.deloitte.com/us/en/pages/tax/articles/strategic-moves-3-years-later.html 2 UK Commission for Employment and Skills Report: The Future of Work: Jobs and Skills in 2030 – www.gov.uk/government/publications/jobs-and-skills-in-2030

IMMIGRATION LAW

PRACTICAL ADVICE

US Immigration Law

Stephen Maltby, Partner, Gibney, Anthony & Flaherty, LLP comments on President Obama’s Memorandum on modernising the US Immigrant Visa System With the 2016 Presidential election on the horizon, US immigration policy promises yet again to be a leading topic of debate. Presidential candidates in both parties differ widely in their approaches: granting amnesty and a pathway to citizenship for undocumented immigrants, constructing a Berlin type wall on the Southern border, deporting millions of people without proper immigration documentation, and even repealing constitutional birthright citizenship of people born to undocumented immigrants. But through all the noise about illegal immigration, President Obama’s administration has outlined several proposals for meaningful immigration reform, and has succeeded in implementing some initiatives that facilitate the hiring and retention of foreign talent by US employers. 1. INITIATIVES BY THE WHITE HOUSE Following President Obama’s executive action on 20th November 2014 to fix the nation’s broken immigration system, on 15th July 2015 the White House released a Presidential Memorandum on “Modernizing and Streamlining the US Immigrant Visa System for the 21st Century” (the Memorandum). The Memorandum outlined several reforms to immigration programmes and policies, including the following: A. FACILITATION OF TRAVEL The Memorandum states a national goal for the US to provide a “best in-class international arrival experience”, with the expanded use of Automated Passport Control kiosks and Mobile Control Applications. For many years, British citizens have been able to travel to the US on business or for tourism without a visa following registration on the Electronic System for Travel Authorisation at www.esta.cbp.gov. Participation in the Visa Waiver Programme allows qualified applicants to stay in the US for multiple visits of up to 90 days over a two year period. However, the Memorandum recommends further measures to improve the travel experience. Since 9th August 2013 a limited number of British travellers have been able to participate in the US Global Entry programme, which provides for expedited clearance of pre-approved low risk travellers arriving in the United States at Global Entry kiosks located at designated airports. United States Customs and Border Protection (CBP) expects to expand eligibility to apply for Global Entry to include all British citizens in the near future. See www.globalentry.gov.

Other recommendations in the Memorandum include expanding pre-clearance with pre-boarding inspection (currently in place at 15 airports in six countries), and eliminating the need for air passengers to complete a paper Customs Declaration form. This is intended to smooth the arrival process and facilitate international to domestic transfers. B. KNOWN EMPLOYER PILOT PROGRAMME The Memorandum also announced plans for U.S. Citizenship and Immigration Services (USCIS) to advance a pilot programme that will streamline the adjudication of nonimmigrant visa petitions filed by US employers who meet certain corporate requirements. Employers will have the option to petition for “Known Employer” status and to pre-establish themselves, thereby reducing the time required to review the employee’s petition. C. ENHANCED PORTABILITY AND JOB FLEXIBILITY The Memorandum also confirmed a forthcoming regulation providing additional job flexibility and portability to foreign workers under the American Competitiveness in the TwentyFirst Century Act of 2000 (AC21). Specifically, the regulation will allow workers to change jobs or receive promotions while waiting for a green card, and will explain where H-1B workers can seek other H-1B employment. There will also be a grace period for non-immigrants whose authorised stay has expired or whose jobs have been terminated. D. MODERNISATION OF PERM ADJUDICATIONS Another welcome recommendation in the Memorandum is the intention of the Department of Labor to publish a new regulation to improve the PERM labour certification application programme. The new regulations will update recruitment methods, add a process to correct minor errors in applications, and add plans to streamline the adjudications process and reduce processing times for audited cases. E. IMMIGRANT INVESTOR VISA The Memorandum also recommends rulemaking to enhance the integrity of the Immigrant Investor (EB-5) programme. It calls for increased scrutiny by requiring conflict-of-interest disclosures by Regional Centres and enhancing background checks of investors. In addition, it is expected that the Department of State (DOS) will clarify that potential EB-5 investors are eligible for B visitor visas to examine or monitor potential qualifying investments. F. IMMIGRANT VISA ISSUANCE A key component of the recommendations made in the Memorandum relates to immigrant visas for employmentbased immigrants. Noting that the statutory caps on immigrant

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IMMIGRATION LAW

visa numbers “no longer reflect the needs of US businesses and the US economy”, the recommendations call for the USCIS and DOS to revise the monthly Visa Bulletin to provide predictability in visa availability to non-immigrants to “allow more individuals seeking LPR status to work, change jobs, and accept promotions”.

G. MODERNISED IMMIGRANT VISA (MIV) PROJECT As part of its recommendations to improve the overall visa applicant experience, the Memorandum notes that DOS and USCIS are preparing to launch the MIV project, which modernises how agencies interact with customers. The DOS has implemented a pilot MIV programme at six consulates: Buenos Aires, Frankfurt, Hong Kong, Montreal, Rio de Janeiro and Sydney. This programme includes only a single MIV component that digitises the content of a file. However, the full range of MIV applications is scheduled for release in the Spring of 2016. These include the ability to upload electronic documents, update beneficiary information and receive messages.

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2. OTHER EMPLOYMENT-BASED IMMIGRATION DEVELOPMENTS A. L-1B SPECIALISED KNOWLEDGE The L-1B visa category is available to intracompany transferees who possess “specialised knowledge”. Defined in USCIS regulations as “special knowledge possessed by an individual of the petitioning organisation’s product, service, research, equipment, techniques, management, or other interests and its application in international markets, or an advanced level of knowledge or expertise in the organisation’s processes and procedures”, the denial rate of such petitions by USCIS in FY 2014 reached a record 41%. In addition, the rate of requests for evidence was 45% in FY 2014, compared to only 2% in FY 2004. In response to public comments regarding the increasingly restrictive legal standards of the L-1B specialised knowledge category, the USCIS released new guidance effective 31st August 2015. The USCIS affirmed that “specialised knowledge” does not need to be unique or proprietary, or narrowly held within the company, or require a test of the US labour market. Furthermore, a high salary is not required. However, the knowledge must not generally be found in the industry or in the petitioner’s US operations, it must be particularly beneficial to the employer’s competitiveness, image or financial position, must normally be gained only through experience with the employer, and it must be knowledge of a product or process that cannot be easily transferred or taught without significant cost or inconvenience, or knowledge of a process or product that is sophisticated or complex. While the guidance provides welcome clarification of what may constitute “specialised knowledge” for L-1B visa purposes, USCIS adjudicators are still given considerable leeway to

PRACTICAL ADVICE

Fulfilling this recommendation, on 9th September 2015 the DOS released a Visa Bulletin that provided “Application Final Action Dates”, including cut-off dates for issuing green cards, as well as “Dates for Filing Applications” with cutoff dates indicating the earliest date when applicants may file their individual applications for permanent residence. While this revised methodology for the filing and final adjudication of immigrant visa applications was a highly welcomed development (since it allows applicants to apply for employment and travel authorisation), the DOS issued a revised Visa Bulletin on 25th September 2015 with later dates for citizens of India and China to file applications, effectively taking the benefits away from thousands of individuals and adding to the uncertainty of the process.

PRACTICAL ADVICE

IMMIGRATION LAW

review the weight and type of evidence that establishes whether the beneficiary possesses specialised knowledge, leaving employers with little concrete guidance on how to prepare successful petitions. B. CHANGE OF H-1B WORK LOCATION On 21st July 2015, USCIS released final guidance clarifying whether amended or new petitions need be filed for H-1B employees who move job locations. The Memorandum clarifies that if an H-1B visa holder moves work locations not covered by an existing labour condition application (LCA) after 19th August 2015, even if the new worksite is within the “area of intended employment”, an amended petition must be filed before the employee begins working at the new job location. This departs from prior guidance, which only required a new LCA posting for worksite location changes within the same area. Certain short-term placements of up to 30 or 60 days, as well as non-worksite location changes, are exempt from the requirement of filing a new or amended H-1B petition. USCIS further noted that once an amended or new H-1B petition is properly filed, the H-1B employee can immediately begin to work at the new place of employment. A final decision on the petition is not required to start work at the new place of employment. C. H-4 WORK AUTHORISATION In a much anticipated final regulation published on 25th February 2015, USCIS confirmed that the agency will extend employment authorisation eligibility to certain H-4 dependent spouses of H-1B non-immigrants who are seeking employment-based lawful permanent resident status. The rule became effective 26th May 2015. To be eligible for employment authorisation, the H-4 visa holder must be the dependent spouse of an H-1B non-immigrant visa holder who: • Is the principal beneficiary of an approved Form I-140, Immigrant Petition for Alien Worker, or • Has been granted H-1B status under sections 106(a) and (b) of AC21. (AC21 permits H-1B non-immigrants seeking lawful permanent residence to work and remain in the US beyond the six-year limit on their H-1B status)

United States until USCIS has approved the Form I-765 and the H-4 dependent spouse has received the EAD. D. F-1 WORK AUTHORISATION USCIS has proposed various changes to the rules permitting students in F-1 status to work in the US pursuant to a post completion optional practical training (OPT). Under existing regulation, students who have a degree in the Sciences, Technology, Engineering and Mathematics (STEM) and who work for an employer that is enrolled in and uses E-Verify are eligible to apply for a 17 month extension to a period of OPT. Under the proposed rule, STEM students could apply for an OPT extension for 24 months. This would increase their OPT time to a total of 36 months. Furthermore, the proposed rule expands the list of degrees that qualify for this benefit. Finally, the proposal imposes new requirements on employers to devise a customised training programme, to provide a mentor for each STEM student, and to make attestations regarding the compensation to be paid to the STEM student and the working conditions of US workers. CONCLUSION The Memorandum offers a glimpse into a more modern US immigration landscape, making the legal immigration system more efficient and accessible to employers and visa holders alike. However, reform by means of legislation, and not just administrative proposals, needs to be undertaken. Unless the elections in 2016 bring about a consensus and bi-partisan support on the approach to overhaul the system, employers and immigrants can continue to expect only piecemeal improvements. For more information, please contact: Gibney, Anthony & Flaherty, LLP 665 Fifth Avenue New York, NY 10022 Tel: +1 212-688-5151 Email: sjomaltby@gibney.com Website: www.gibney.com

Under the new rule, eligible H-4 dependent spouses can file Form I-765, Application for Employment Authorisation, with supporting evidence and the required $380 fee, to obtain employment authorisation and receive an Employment Authorisation Document (EAD). USCIS began accepting applications on 26th May 2015. The H-4 dependent spouse is not eligible to begin working in the

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AEROSPACE

British and American Aerospace and Defence Ties Remain Strong

As the Aerospace Industries Association’s (AIA) new President and CEO, I welcome the opportunity to provide to readers of American British Trade & Investment my thoughts about the US aerospace and defence community’s role in promoting vibrant aerospace and defence industries in both our countries. I have the honour of being the ninth full time leader of AIA, which has been a key element in our industry since 1919, just after the dawn of flight. We work for a current membership of 314 companies, who operate in all 50 states and abroad. Our companies invent and manufacture the world’s most advanced military platforms, missiles, cyber security systems, IT infrastructure, Unmanned Aircraft Systems, civil aircraft, helicopters, satellites, spacecraft, launch vehicles, ground vehicles and ships. They also provide sophisticated services to government and commercial customers. AIA’s job is to advocate for policies in the US and in the international arena that give our member companies the best possible chance to succeed at home and in the global marketplace, where we see most of the growth opportunities for our industry occurring. Given that our domestic companies must draw upon the talent and expertise of companies outside our borders, we highly value the collaboration our industry and nation have enjoyed with our counterparts in the United Kingdom.

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I recently came across an article that UK Air Chief Marshal Sir Stuart Peach wrote in the US publication Defence One. Sir Stuart made the following useful observations about our alliance: • The US-British military-scientific communities have enjoyed a longstanding productive relationship, beginning in 1940 when Sir Henry Tizard led a team of UK military and civilian scientists on a secret mission to the US that helped bring US expertise and resources to bear in cracking some of the most difficult technology problems the British military faced. • Today, the US and UK remain each other’s largest science and technology partners, both in defence and wider academia. • Both countries have recognised that we can no longer afford to develop military technology exclusively ‘in-house.’ We must also exploit the seemingly exponential gains being made in the private sector. We may well be returning to an age where, like the steam-powered industrial revolution, industry innovates and defence exploits. • In this age of austerity, and with increasing reliance on each other to conduct military operations, one advantage is more important than ever: our nations’ partnership. By forging new agreements and building on the legacy of our pioneering predecessors, together we can help to secure the next strategic advantage.

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By David F. Melcher, President and CEO, Aerospace Industries Association

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One such agreement is the 2014 US-UK defence pact aimed at increasing the number of collaborative science and technology programmes between our two nations. This first formal US-UK defence science agreement is targeting such technologies as satellite communications, navigation and surveillance, cyber security and energy use and consumption. “The arrangement has a wide ranging remit, but it’s not circumscribed by any amount of money or deliverables over a set time frame,” said Philip Dunne, the UK Minister of State for Defence Procurement. “It’s about providing an opportunity for our science and technology communities in the Ministry of Defence, the Pentagon and industry to recognise we are looking to collaborate increasingly.” Today, the largest area of US-UK industry-to-industry cooperation in the defence sphere involves the F-35B Lighting II fighter jet. The Joint Strike Fighter stealth aircraft that contains air-to-air missiles, GPS guided bombs and laserguided bombs, is the product of multi-national cooperation, with prime contractor Lockheed Martin relying on BAE Systems to produce one fuselage every day at its site in Samlesbury, Lancashire. Indeed, British industry provides about 15% of the content of this fifth generation jet aircraft. Britain has thus far bought eight F-35B Lighting II jets which are set to fly off the Royal Navy’s two new carriers – the HMS Queen Elizabeth and HMS Prince of Wales – beginning in 2020, and is considering additional purchases as part of the government’s ongoing strategic, defence and security review. These jets also have the ability to operate from land bases and remote locations, providing versatility that will revolutionise the UK’s expeditionary combat power. A major advantage of the aircraft is its state-of-the-art cockpit system that will enable RAF and Royal Navy pilots to quickly tell friendly jets from foes, and will give our two nations and our allies a distinct advantage when we conduct joint operations. In February 2015 the RAF 17 (R) Squadron began operational test and evaluation of the UK’s first F-35B Lighting II aircraft at Edwards Air Force Base, California. Another key area of US-UK defence cooperation is the joint work on the design of a common missile compartment for our nations’ strategic ballistic missile submarines. Last year, the U.S. Navy awarded sub-contracts to both US and UK vendors for the first 17 missile tubes to support this effort.

The development of the Strategic Weapons System Ashore at Cape Canaveral, Florida, and of a new surface launch facility at Naval Air Station, China Lake, California, will boost the performance of the Ohio-class Trident II launch system for the US and the UK. From a broader perspective, since I assumed my current duties we have put a lot of effort into updating AIA’s Vision, Mission and Values Statements, and the strategic goals that flow from these, in order to advance the interests of the American aerospace and defence industry in ways that enhance our nation’s national security and economic interests, and those of our allies like Great Britain. Our new vision statement states the following: “AIA shapes the American aerospace and defence industry’s future. We will unite our member companies to ensure safe air transportation systems, make America more secure, extend the horizons of exploration, drive innovation and ensure a vibrant industrial base.” Flowing from that vision is a clear sense of our mission: “The Aerospace Industries Association is the collective voice of the US aerospace and defence industry. We advocate for policies and responsible budgets that keep our country strong, bolster our capacity to innovate and spur our economic growth.” These statements recognise the budget austerity that has hampered the aerospace and defence industry on both sides of the Atlantic, and the research and development that we believe are essential for both nations. We believe that existing policies which call for cutting budgets without regard to the need to invest in defence modernisation and civil R&D are not set in stone, and we will continue to push for policy makers to recalibrate their priorities. In this advocacy, we know we are not lone voices in the wilderness. Providing AIA and our members a boost of energy is the support and good wishes of the American public, and certainly publics of friendly nations such as Great Britain. The public in both our countries also expect us to continue making air transportation safer, more efficient and environmentally friendly through such efforts as America’s NextGen air transportation system modernisation programme and the Single European Air Traffic Management Research programme, SESAR. To help achieve the promise of air transportation system modernisation, we have been advocating strongly for greater interoperability between

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NextGen and SESAR. Also, our industry is making a $15 billion annual research investment in helping aviation operators cross the goal line of carbon neutral growth by 2020. In a rapidly developing area of civil aviation the integration of civil use Unmanned Aircraft Systems (UAS) into our domestic airspaces is adding complexity to the challenge of air traffic management. We believe the safety issues of integration are manageable with a combination of education, technology and regulation. We should all recognise that UAS have tremendous life saving potential when lost people need to be found, when wildfires develop, severe storms hit, and when train rails, power lines, oil rigs, bridges and dams need to be inspected. They also have important uses for agriculture, communications, commerce and resource management. So we do want to ensure that this exciting industry continues to develop and keeps innovating. Finally, our publics certainly want both of our nations to be foremost in maintaining military superiority in order to reinforce and protect the benefits of freedom and security worldwide. Let me illustrate this latter point with a few examples. When any US President or British Prime Minster gets a dreaded three a.m. phone call about a crisis demanding his or her attention, or intelligence leads us to a wanted terrorist target, our leaders need to know that their militaries can respond swiftly and decisively. Thanks to our industry, we can. Moreover, our industry is dedicated to the endurance of our military advantage. In concert with British industry we invest billions into the systems that will help protect our shores from a major cyber attack and enable our men and women in uniform to project superior force against a well-armed hostile power or to deal with an asymmetrical threat. We have made a major commitment to maintaining our technological edge not only on the sea, land, and in the air, but also from the high ground of space, where communications, navigation and reconnaissance satellites provide critical support to our military and those of our partners and allies. International cooperation is a key component of our national security space programmes, and the US and UK work together on a range of these programmes, from a data sharing agreement for space situational awareness signed in 2014, to the partnership between the US, UK, Canada and the Netherlands that makes the Advanced Extremely High Frequency (AEHF) military communications satellite system a more robust constellation.

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Of course, our militaries which increasingly train, operate and equip together, are not just focused on the flash points of today, but on the long-term global trends that cry out for the US and the UK to continue their essential role as a positive force for both stability and peace. As an Army veteran, I can assure you the words in George Washington’s first inaugural address, “To be prepared for war is one of the most effective means of preserving peace,” resonate in today’s world. We must also not lose sight that the decisions we make to prepare in both London and Washington, DC will remain interdependent and must remain coherent for the sake of both our nations. In conclusion, what gives me great hope for the future is that despite the challenges the American and British aerospace and defence industries face, we continue to attract bright and bold people who are committed to innovating our collective future, and to the alliance that has done so much good for the world. The cooperative links we maintain will indeed keep our two great nations strong, secure and prosperous. David F. Melcher (LTG US Army-Ret.) is the President and CEO of the Aerospace Industries Association.

For more information, visit www.aia-aerospace.org Facebook: www.facebook.com/AIA.Aerospace Flickr:

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LinkedIn: www.linkedin.com/company/ aerospace-industries-association Twitter:

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Disruptive Innovation and How It’s Changing Automotive By Deb Menk, Assistant Director of Economic Development Strategies Group and Juliana Patterson Research Assistant, Center for Automotive Research, Ann Arbor, Michigan Disruptive innovation in the automotive industry is currently occurring on several fronts. This article will address three key areas – electric vehicle technology, autonomous vehicle technology and ride-sharing, taxi-like services such as Uber. As stated in an article from American British Trade & Investment in 2015, “As the automobile becomes a vehicle with far more capabilities than moving from point A to point B… the industry is rapidly developing and adopting a wide range of new technologies.” DISRUPTIVE INNOVATION AS A CONCEPT According to the Clayton Christensen Institute for Disruptive Innovation, the term “disruptive innovation” is used in business literature to describe “the phenomenon by which an innovation transforms an existing market or sector by introducing simplicity, convenience, accessibility and affordability where complication and high cost are the status quo.” This process is often completed by designing for a different set of consumers in a new market and eventually lowering the prices in the existing market. As a general rule, when something is digitised, it becomes highly disruptive. One reason is that digitisation allows the marginal cost of adding new supply to drop to zero. For example, in the past, film photography was the status quo. The film for each photograph would have a cost, and therefore

consumers had a limit on the number of photos they could take. When the digital camera came to market, the marginal cost of taking additional photos went to nearly zero. So now consumers pay the same amount to take vast numbers of photos as they pay to take one, and as a result they shoot as many as they wish. One company that has used digitisation to its advantage is AirBNB, the largest hotel chain in the world that does not own a single hotel. The company’s online interface allows users to create listings for their spare bedrooms or guest spaces and connect with those who are seeking to rent the space on a temporary basis. Due to this ease of adding inventory, the number of listings on the company’s website has increased exponentially since it was founded in 2008. Unlike major hotel chains, which must construct a new hotel to increase inventory, AirBNB waits for users to add new listings, and this eliminates the marginal cost of supply to the company. For this reason, AirBNB has the power to restrict hotel markets; the effect of this is starting to become evident at events like music festivals, where hotels are starting to see dips in their profits due to the low prices and availability of AirBNB rentals. Beyond allowing companies like AirBNB to increase their supply at virtually no cost, digitisation also allows companies to reach out to prospective buyers through online marketing and referral campaigns. More than ever, businesses are purchasing ad space on Google rather than in newspapers, and this creates the potential for viral loops, which send acquisition costs to zero. Dropbox is a great example of a company utilising viral loops. Members of the site who share with their friends receive more storage space on the site, and new users can expect to achieve the same benefits. These viral loops are the driving force behind the trend that is creating million dollar profit margins in a matter of weeks; a process that used to take years, sometimes decades. DISRUPTIVE INNOVATION IN AUTOMOTIVE ELECTRIC VEHICLES Most major automakers continue to develop electric vehicles, and the technology continues to advance and be more practical for our society. Several companies, however, are taking the idea of the electric vehicle to a different level, and this could make the technology mainstream and change the way we view human-vehicle interaction.

AirBNB Listing Growth, 2011-2014 Venturebeat.com, 2014

Tesla Motors has been on the frontier of creating an electric vehicle technology since its founding in 2003. Using AC motors and lithium-ion battery cells, Tesla created the first electric vehicle with a range greater than 200 miles per charge. The company aims to replace traditional fuel sources and to create an affordable mass market electric vehicle.

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Tesla Electric Vehicle Charging Station Locations Tesla Motors, 2015

Although the goal of affordability has not yet been achieved, with the 2015 Model S coming in at a minimum of $69,000, modern technology companies expect to expand at exponential levels. While heavily debated, some suggest that Tesla will expand the market for EV in a significant way in the coming years and expects the company to expand its technology at an accelerated rate in the meantime. In fact, Tesla’s plans for the future include the $35,000 Tesla Model 3 coming to market in 2017 and, according to Hatzel & Buehler Inc, will provide battery charging facilities covering 98% of the US population and parts of Canada. Another company investing in electric vehicle technologies is Apple. In terms of disruptive innovation, Apple is a master. They have entered and mastered multiple and varied industries

Apple Project Titan In-Vehicle Interface Concept International Business Times, 2015

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including computers, music, phones, tablets, and now they are turning their attention to automobiles – with their “Titan” project. As the largest market capitalisation company in the world, Apple, through its combined ability to break into new markets and develop new technology, is set up to disrupt the automotive industry and expand the market for electric vehicles. According to recent news reports, Apple hopes to do so with the release of its fully electric, though not fully autonomous, vehicle in 2019. Project Titan aims to expand the market for electric vehicles by appealing to consumers who are already comfortable using Apple operating systems and interfaces in their phones, tablets and computers. By incorporating this familiar interface, Apple aims to make the concept of electric vehicle technology more comfortable to consumers who have concerns about vehicle range and new technology. Overall, this has the potential to expand the market for electric vehicles in ways that are unmatched today. FULLY AUTOMATED VEHICLES One of the main drivers of potential change in the automotive industry is the self-driving car. The future of automotive almost certainly includes some version of autonomous vehicle technology, and the present form of this technology is much closer to the mainstream than many people realise. According to an article from The Australian, “In terms of the fully automated cars, the technology exists now and they’re being trialled in the US … (The) best guess is that the technology will come into the mainstream in about 10 years”. Benefits of this technology are evident. Once automated cars arrive, roads will be able to carry much greater volumes of traffic, which will increase efficiency for commuters. Furthermore, eliminating the human factor could drastically reduce the number of traffic accidents. As put by the New Yorker, “Of the ten million accidents (sic) that Americans are in every year, nine and a half million are their own damn fault”.

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Google is becoming known for its efforts in self-driving vehicles. The company is famous for viewing “…the car as simply a mobile phone on wheels.” Google has had success in the development of this technology, but its successful application in reality is somewhat debatable. The Google car has been criticised for being “too safe,” in other words, not being able to make the split-second decisions that human drivers make.

walking, biking) is much lower than owning and maintaining a vehicle. The ability of consumers to choose this cost-effective alternative to car ownership could become troubling for carmakers, who depend on high volumes of vehicle sales to offset the high costs of capital used for production. This suggests that they may have to adjust strategies to co-exist with successful companies like Uber, Apple or Google, or lose out to them in the long run.

The tech company is hoping to break into the automotive industry with a self-driving vehicle, but it must take into account that the world is just starting to accept electric vehicles like the Nissan Leaf and other Tesla models. Salim Ismail, of Singularity University, has noted that many people assume technology is bad when it is new, and the Google car is facing these hesitant criticisms.

OPPORTUNITIES AND PITFALLS: WHO STANDS TO LOSE?

RIDE-SHARING One of the most talked about companies in disruptive innovation is the ride-sharing service Uber. The company, which has experienced huge growth since its founding in 2009, is revolutionary in the sense that it allows users to provide taxi services to anyone who requests a ride online, typically for a lower price and more conveniently available than traditional taxi services. Automotive companies, such as Mahindra and Mahindra, caution the automotive industry against rising competition from taxi-hailing apps such as Uber, saying it could “push some people into giving up car ownership and pose a threat to auto industry sales volumes”. According to the Economic Times, “the convenience of using (such apps), their easy availability and cheap price could push individuals who have aspired to own a car to drop their plans and opt for convenience instead”. A number of automakers are attempting to upgrade their models with technology to attract a younger generation of consumers. Ford, for example, recently launched a car-sharing initiative that allows people to loan their cars to a small group of customers to make maintaining vehicles more cost effective. For many people living in cities, the cost of the occasional ride from Uber (combined with other modes of mass transit,

Automotive clusters occur where there is a critical mass of automotive assembly plants or supplier facilities. One of the largest of these clusters is in the mid-western United States, centred around the historical home of automotive, the State of Michigan. According to the Center for Automotive Research’s own studies, 60% of motor vehicles made in North America are produced in the mid-west, and around three quarters of the US auto industry’s annual investment of $20 billion in R&D is spent in mid-western states. The Michigan automotive R&D industry, for example, employs an estimated 65,000 professionals, and is home to more than 330 automotive R&D companies or research facilities. Because the mid-west is such a hotspot for automotive employment, many local universities and community colleges have programmes to train, develop and expand the automotive workforce. This, in combination with government workforce development and incentive programmes, makes these automotive clusters very attractive to original equipment manufacturers (OEMs) and suppliers alike. The State of Michigan, however, faces competition for automotive production, as high labour and operating costs drive manufacturing activities to cheaper locations such as Mexico. An important technology cluster is in the State of California. The state is not necessarily an automotive cluster, but is far better known for being a hotbed for technological development, with giant tech companies like Google, Apple and many more. Although the automotive industry is not a large component of California’s Gross State Product, the state is generally ranked in the top 10 for typical measures such as automotive employment, number of establishments, industry shipments, etc. Most carmakers maintain significant

Google Self-Driving Car Forbes, 2015

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facilities for R&D, design, testing, or headquarter operations. California is also well-known for its highly educated workforce and large incentives for R&D activities. If autonomous vehicle technology becomes truly as important as many predict it will be, Michigan’s industry could be at a disadvantage compared to developments in California. CONCLUSION Overall, the evolution of technology and digitisation of products and services in our society have given companies the opportunity to create digital business models that allow them to increase inventories as well as the demand for their products with little or no additional cost per unit. Companies like Uber and AirBNB use online interfaces to provide consumers with services provided by their peers, which has allowed for the viral loop effect to create a number of milliondollar companies in a matter of weeks. Furthermore, the process of disruptive innovation is allowing these same companies to revolutionise markets by developing technology to a point where they can replace existing products and services with better ones, all for a lower cost. Apple is the true master of this concept as they topple industry after industry with their computers, music, phones, tablets, and now, their pursuit of automobile systems. Other than Apple’s electric vehicle project, companies like Google, Tesla, and Uber also stand to disrupt the automotive industry with their autonomous vehicle projects, expanded network of electric vehicle battery charging stations, and ride-sharing services respectively. These trends stand, not

only to increase efficiency for commuters, but also improve highway safety, and reduce the amount of fossil fuel used by the average motorist. These disruptions may require current automotive industry leaders to re-evaluate and improve their products, or lose out to these technology-based companies. Finally, the automotive cluster that currently exists in the mid-western United States stands to lose ground in coming years if they do not adapt to a world in which autonomous vehicle technology is mainstreamed. California is the current capital for autonomous vehicle technology, and has the potential to become an automotive-heavy state in the future if they continue this development path. Michigan has a large investment of research and development centres and a solid history of being a leading centre for the automotive industry, and is therefore well-positioned; however, because of disrupting technologies affecting the industry, California, China and other locations are vying for supremacy. The Center for Automotive Research is a nonprofit organisation based in Ann Arbor, Michigan. Its mission is to conduct research on significant issues related to the future direction of the global automotive industry, as well as organise and conduct industry forums. The Center for Automotive Research’s Automotive Communities Partnership (ACP) has been addressing the needs of automotive communities for the past decade. The ACP brings communities, international partners, automotive companies, educational institutions and government agencies together to advocate for the automotive industry and its continuing investment in the communities that are integral to the North American automotive industry. Furthermore, the ACP helps the region’s communities respond to the challenges and opportunities presented by the auto industry. For more information, please visit www.cargroup.org and acp.cargroup.org

Bilger, Burkhard. “Auto Correct: Has the Self-Driving Car at Last Arrived?” The New Yorker. New Yorker Magazine, 25 Nov. 2013. Web. 2 Oct. 2015.

Karmin, Craig. “Airbnb Crimps Hotels’ Power on Pricing.” The Wall Street Journal. The Wall Street Journal, 29 Sept. 2015. Web. 1 Oct. 2015.

Evarts, Eric. “Affordable 2017 Tesla Model 3 Sedan and Crossover SUV.” Consumer Reports. Consumer Reports, 17 June 2015. Web. 2 Oct. 2015.

Maranger Menk, Debra, and Joshua Cregger. “Today’s Car: Providing Opportunities in High Technology and Leading Edge Research.” American British Trade & Investment (2013): 29-31. Web. 29 Sept. 2015. <http://www.cargroup.org/assets/files/british_american_trade_ investment.pdf>.

Farrell, Maureen. “What Apple’s Auto Ambitions Could Mean for Tesla.” The Wallstreet Journal. The Wallstreet Journal, 22 Apr. 2015. Web. 1 Oct. 2015. Frangoul, Anmaur. “This Could Transform the Way We Drive.” CNBC. N.p., 1 Oct. 2015. Web. 2 Oct. 2015. Gaus, Annie. “In the Talent War, Is Uber the Next Google?” Bizjournals.com. San Francisco Business Times, 29 Sept. 2015. Web. 2 Oct. 2015. Gottliebsen, Robert. “Electric Cars, Driverless Cars: Change Is Coming Soon.” The Australian. The Australian, 26 Sept. 2015. Web. 1 Oct. 2015. Hartung, Adam. “How Tesla Could Become the Next Apple – and Seriously Damage Exxon.” Forbes. Forbes Magazine, 22 Sept. 2015. Web. 1 Oct. 2015. Hatzel and Buehler. Company Profile and Projects Descriptions. 2015. http://www. hatzelandbuehler.com/project/tesla-motors-electric-vehicle-charging-stations/

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Richtel, Matt, and Conor Dougherty. “Google’s Driverless Cars Run Into Problem: Cars With Drivers.” The New York Times. The New York Times, 01 Sept. 2015. Web. 02 Oct. 2015. “Disruptive Innovation.” Clayton Christensen Institute for Disruptive Innovation. Clayton Christensen Institute, n.d. Web. 02 Oct. 2015. “So, What Is a Viral Loop?” Growth Devil. N.p., 04 Dec. 2013. Web. 02 Oct. 2015. <http:// growthdevil.com/viral-loop/>. “Taxi-hailing Apps like Uber, Ola Could Eat into Auto Sales.” The Economic Times. Economic Times Bureau, 11 Sept. 2015. Web. 1 Oct. 2015. “Tesla Motors – Electric Vehicle Charging Stations” Hatzel & Buehler, Inc. N.p., n.d. Web. 01 Oct. 2015. <http://www.hatzelandbuehler.com/project/tesla-motors-electric-vehiclecharging-stations/>.

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Uber’s Growth Between 2010 and 2014 NBC Chicago, 2014

MEDICAL DEVICES

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Spotlight on the Medical Device Industry: Change and Opportunity Ahead By Katie Clark Sieben, Commissioner, Minnesota Department of Employment and Economic Development and Shaye Mandle, President and CEO, LifeScience Alley Dramatic changes continue throughout the medical device industry in the United States and across the globe. Companies are reconfiguring their operations and product portfolios to address market shifts and changes in the way medical devices are designed, regulated and purchased – resulting in more mergers, acquisitions and crossindustry collaborations. As the need for new therapies and health care cost management grows, we are confident about the medical device industry’s capacity to develop solutions, and are optimistic about the future. Medical devices will play an everexpanding role in improving global population health. The state of Minnesota has the highest concentration of medical device manufacturers in the nation, and we see this growth and innovation taking place on a daily basis. Medical devices have traditionally included surgical, medical and dental instruments, appliances and supplies. They run the gamut from implanted electronic devices (such as pacemakers), stents and artificial joints, to syringes, catheters and surgical dressings, on to diagnostic imaging equipment, scanning devices and patient-monitoring systems. Today, new discoveries and converging technologies are expanding the very concept of medical devices and how they can be used. We are seeing a revolution in neuromodulation products and therapies, regenerative medicine and drugdevice combination products. Digital information technology is being paired with medical devices in innovative ways to monitor and improve patient outcomes and contain costs.

Many medical device companies have targeted new markets for growth. Countries like India, China and Brazil are important markets for medical devices, especially with the innovations taking place in device therapies for common chronic diseases such as diabetes. Companies headquartered or with major operations in Minnesota such as Medtronic, St Jude Medical, Boston Scientific and 3M are developing effective therapies at a price point that people in those countries can afford. Common industry concerns include the tax climate and regulatory approval process. The Affordable Care Act imposed a national medical device excise tax of 2.3% that applies to non-retail medical devices such as X-ray equipment, MRI machines, surgical instruments and pacemakers. Medical devices are regulated by the U.S. Food and Drug Administration (FDA). Timetables to get device approval through the FDA today still lag behind those of a decade ago – but they are significantly better than they were two years ago. The US regulatory system, as a whole, has begun to turn the corner toward more predictable and efficient approvals. Typically products have had to fit into either the drug approval pathway or the device approval pathway. As devices have become more complicated and drug-device combinations have become more common, the FDA has created some accelerated approval pathways for novel new therapies, but more can be done to improve this process. While challenges exist, the United States remains an essential market for global manufacturers. The US is the largest medical device market in the world, with about $142 billion in revenue in 2013, according to Marketline Industry Proﬁle for Health Care Equipment and Supplies, October 2014. That report predicts a compound annual growth rate of 5.2% for the period between 2013 and 2018. Smithsonian

In the United States, the health care system is undergoing unparalleled transformation sparked by the Affordable Care Act and a need to move from fee-for-service payments toward population health management and value-based medicine. This has caused widespread changes in how medical device purchasing decisions are made. It has also resulted in flat or reduced reimbursement rates for medical products and services, including medical devices.

forces to better control their pricing and be more competitive in a marketplace where cost is driving decision making.

In the past, an individual physician would make decisions about the best medical device for a patient. Nowadays, that decision-making role has expanded to include hospital administrators, health plan administrators and approval committees with insurance companies. The emphasis is on meeting and exceeding the desired health outcomes while controlling costs. In response, companies are using new strategies. These include broadening product lines – often through mergers and acquisitions – and packaging services with products to increase efficiencies in clinical settings. Companies are joining

The Smithsonian selected Minnesota’s Medical Alley as one of six “Places of Invention” for an exhibit which opened in mid-2015 at the National Museum of American History in Washington, DC.

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Mayo Clinic

Back in the late 1940s, Earl Bakken, an engineer who repaired medical equipment for the University of Minnesota, was asked by Dr C. Walton Lillehei to solve a problem: temporary pacemakers requiring electric current could fail during blackouts. In response, Bakken developed the first external, battery-operated, wearable artificial pacemaker – and founded Medtronic, now the world’s largest standalone medical technology development company.

Venture capital investments in the US medical device industry have grown steadily over the past 20 years – except during the recession of 2007-2008, based on data from PwC. In 2014, there was more than $2.7 billion in US venture capital investments in medical devices and equipment. Investments in start-up medical device companies in Minnesota reached a six-year high in 2014, LifeScience Alley data shows. Many companies from the United Kingdom and across the globe have found it makes sense for them to have a US presence. Since 2003, UK-based companies have invested almost $420 million in 30 medical device operations in the United States, according to fDi Markets. For instance, medical device maker Smiths Medical – a division of UK-based Smiths Group plc – employs more than 850 people in its Minnesota global headquarters and recently invested in a state-of-the-art headquarters building. The company received funding from the state of Minnesota’s Department of Employment and Economic Development through its Job Creation Fund, which allows for up to $1 million in incentives for companies that create at least 10 new full-time jobs. As part of the funding, Smiths Medical announced plans to add more than 160 new jobs. EPICENTRE OF MEDICAL DEVICES Foreign investors are drawn to the United States by the size of its medical device market and often by state incentive programmes. In Minnesota, we have found that companies are most attracted to our performance record, which is based on a wealth of local expertise in getting medical devices to market, a well-educated talent pool and the state’s unique history as a leader in medical technology innovation. Minnesota became a medical technology powerhouse back in the 1950s when the modern medical device industry was invented here. That history is featured in a display that opened in mid-2015 at the Smithsonian National Museum of American History in Washington, DC. The Smithsonian selected Minnesota’s Medical Alley as one of six “Places of Invention”, among other innovative hotspots such as Silicon Valley. These places of invention are notable, said the Smithsonian, for “what can happen when the right mix of inventive people, untapped resources, and inspiring surroundings come together”. For Minnesota, that “right mix” began with leading-edge clinicians at Mayo Clinic, located in Rochester, Minnesota, and at the University of Minnesota. For more than 150 years, both institutions have driven advancements in health care and bioscience.

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This concentration strengthens our innovation ecosystem. In Minnesota, an early-stage company with 10 people has access to some of the most experienced clinical and regulatory experts in the world. These are often people who have worked at established medical device makers such as Medtronic, St. Jude Medical, Boston Scientific, Coloplast and 3M and who serve as consultants and help companies put together clinical trials, work with the FDA and get through the regulatory process. Pre-market approval (PMA) is the FDA process of scientific and regulatory review to evaluate the safety and effectiveness of Class III medical devices. Minnesota companies of all sizes, on average, get through the PMA cycle 199 days faster than companies from other states. Between 1960 and 2014, Minnesota led the United States in cumulative PMAs, with 9,097 – or 33% of all pre-market approvals granted by the FDA. Also, from 2010-2014, Minnesota ranked second after California in the number of medical device patents granted. A culture that encourages collaboration between academic researchers, private industry and government has been key to the growth of Minnesota’s medical device industry. Mayo Clinic, for example, has made a 20-year commitment to turn Rochester into the world’s foremost Destination Medical Center. The plan includes more than $6 billion in investment from Mayo Clinic, private sources and state and local government. Incubators to turn clinical and research advancements into useful products and therapies are an integral part of the plan. Medical technology remains indispensable. Aging populations and increased demand for medical therapies paint a positive picture for this industry. And, when growth in the medical device industry is measured by its impact – by lives helped and lives saved – the future is indeed bright. For further information The Minnesota Department of Employment and Economic Development is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details, please visit www.mn.gov/deed/whymn LifeScience Alley, based in Minneapolis, Minnesota, is the largest state-based medical technology industry association in the United States. The organisation works to ensure that Minnesota’s Medical Alley remains the world’s strongest medical technology community. For more information, please visit www.LifeScienceAlley.org

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An aerial view of Mayo Clinic’s $6 billion plan to develop Rochester, Minnesota into the world’s foremost Destination Medical Center. Incubators to turn clinical and research advancements into useful products and therapies are an integral part of the plan.

Today, you will find 441 medical device manufacturing operations in Minnesota employing more than 28,000 people. That is four times the concentration of medical device employment compared to the nation as a whole. In fact, Minnesota ranks first in its medical device “location quotient,” the measure of industry concentration in a location compared to the national average.

UNIVERSITY RESEARCH PARKS

Innovation, Investment and the University Research Park

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By Eileen Walker, Chief Executive of the Association of University Research Parks Lynn Allen-Hoffmann, a professor of pathology at the University of Wisconsin-Madison, was working in her laboratory one day a few years ago when she made a serendipitous discovery – a line of skin cells that she had been manipulating did not, as expected, die under test conditions that should have killed them. Examining this apparent mystery led Allen-Hoffmann to a signal discovery in biotechnology, the existence of a human keratinocyte cell line that, when cultured properly, produces living tissue that is nearly identical to human skin. In 2010, she founded a company called StrataTech to develop regenerative therapies to replace and heal skin in situations such as severe burns or wounds, as well as treating ulcers that are slow to heal and similar applications. StrataGraft regenerative skin tissue has just passed the second phase of federally mandated clinical trials and is on a fast track to be released to the market within the next year or two. “This development is incredibly promising, both economically and scientifically”, says Aaron Olver, managing director of the University of Wisconsin-Madison Research Park. The park is home to StrataTech which, with some 60 employees, occupies a full floor of its main business incubator. It is one of thousands of constituent parts of the hundreds of university-related research parks, whose flagship organisation is the Association of University Research Parks.

Tech Parks Arizona

As the National Research Council notes, “Research parks are seen increasingly around the world as a means to create dynamic clusters that accelerate economic growth and international competitiveness”. They are also perfect illustrations of what has been dubbed the “triple helix”, whereby government, industry and academia combine to pool

resources, funds and expertise to develop and commercialise important new products and technologies that might otherwise have been difficult for any single branch of that helix to produce. The University of Wisconsin-Madison Research Park is a case in point. “The University itself”, says Olver, “brings in more than $1 billion in research funds each year, and the R&D activity that generates far exceeds that of Harvard, MIT, Stanford and other more richly endowed institutions”. This huge base of research provides an ample pool of talent from which to develop spinoff or start-up companies, of which the Research Park now houses more than 125, employing more than 3,800 people in well-paid jobs. The Research Park helps nurture such companies not just by providing infrastructure, support and a site from which to do business, but also by networking among researchers and funding sources, making critically important connections between inventors and investors. The University of Wisconsin-Madison Research Park, which sponsors everything from cutting-edge biomedical research to a laboratory that makes new blends of soy sauce, is just one example of hundreds of facilities that advance innovation and the commercialisation of its results. Most are broadbased, though with areas of specialisation that reflect the strengths of the parent university, such as biomass energy at the Ohio Agricultural Research and Development Center or medical informatics at the Johns Hopkins University Science + Technology Park. At the University of Arizona Tech Park, located on the outskirts of Tucson, the sun shines more than 300 days out of the year. That makes the University’s leadership in solar energy a natural fit, one that the Tech Park has fully taken advantage of with its Solar Zone. At more than 165 acres, it is the largest multi-technology solar evaluation facility in the United States, working to develop emerging technologies around solar and other renewable energy sources – a rapidly growing sector, of course, in economies around the world. The Solar Zone’s principal partner is the local electrical utility, Tucson Electric Power, which is involved in the facility in numerous ways. TEP has helped recruit numerous firms, from well-established ones such as IBM to start-ups such as Tucson Solar Cogeneration LLC. The Park’s more than 95,000 photovoltaic panels generate 23 MW of electrical power, output that will notably increase as new technologies are brought online.

The University of Arizona’s Tech Park advances the next generation of solar energy innovation with the unique testing and demonstration capabilities of the Solar Zone.

“It’s a true public-private partnership”, says Tech Parks Arizona associate vice president, Bruce Wright, “we define ourselves as interactive ground – a place where university, community, and industry come together to advance technology innovation

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UNIVERSITY RESEARCH PARKS

Cogenra Washington Gas Solar Zone

Wright notes that the Tech Park is actively recruiting mid-sized companies in partnership, bringing together investors and research groups into a well-articulated programme devoted to renewable energy. “If you’re in the solar business”, he says, “we can definitely help introduce your products and technologies to the North American market”. That market is rapidly growing, with no end in immediate view, making this an optimal time for investment in renewables. Florida Atlantic University sits in the endlessly sunny setting of South Florida, but there’s more than energy research taking place in Boca Raton. Florida has a huge healthcare market – indeed, its governor is a onetime healthcare executive, and the state mirrors the United States as a whole with the health sector being its single largest industry. Florida also has a thriving medical research sector that has made advances in every corner of the industry. FAU’s Research Park is a prime mover in this work, and at its heart lies Modernizing Medicine, Inc., a company that has witnessed remarkable growth since its inception five years ago. Modernizing Medicine manufactures an iPad-based EMA (electronic medical assistant) that is adapted to various specialisations within the larger field of medicine – otolaryngology, dermatology, orthopaedic surgery, for example. While the overall software package provides quick assistance in medical coding and charting information, the

requirements for which have increased markedly since the advent of the Affordable Care Act in 2010, the software for each discipline has specialised adaptations that have been written by practitioners of medicine and not by engineers. “The goal”, says founder and president Daniel Cane, “was to improve the efficiency of doctors and help them improve outcomes”. This ‘by-physicians-for-physicians’ quality – Cane’s partner and first co-writer was his own dermatologist – has given Modernizing Medicine a decided advantage in a crowded field, and it has brought the company much attention on the part of business media outlets such as Forbes and Fast Company. The birth of Modernizing Medicine came about in good measure because of an angel investment through Britain’s Pentland Group, which has been expanding from its previous base in sports and outdoor recreation to embrace healthrelated technologies. “The Pentland Group saw the potential of our little Florida company”, Cane says, “and they liked what they saw and the team we had assembled. I’m pleased to say that they have participated in every round of funding since”. A UK group, then, was the first major funder of an American technology producer that could well emerge as an international leader in medical informatics in the coming years. That is by no means an uncommon partnership in the world of university research parks, where such alliances are regularly forged. Finding the right partner requires diligence and research on all sides, but the possibilities are endless. “My advice to anyone looking to invest in technology is to get your hands dirty”, says Daniel Cane, “and go where the companies are”. If you are interested in solar energy, in other words, then Arizona is the place to look. If meteorological forecasting engages your attention, then the University Research Campus at the University of Oklahoma beckons. If your company works in food manufacturing, a likely partner for research and development is the Joint Institute for Food Safety and Applied Nutrition at the University of Maryland Research Park. University research parks stand at the centre of the triple helix, enabling effective, fruitful cooperation among private and public concerns that is of material benefit to local communities and their regions as well as to the larger national and international economy. University research parks create an environment that encourages innovation and entrepreneurship, and economic growth then follows. That pattern of growth is widespread and constant in the university research park community, a thriving sector that now numbers about 160 facilities in the United States and Canada today. University research parks are drivers of innovation. In our daily work, we at AURP take every opportunity to bring academicians, government workers, and private citizens into collaboration. We welcome your inquiries about taking part in these exciting, world-transforming ventures. For more information visit www.aurp.net

The co-founders of Modernizing Medicine, Michael Sherling, MD, MBA, Chief Medical Officer and Daniel Cane, CEO

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and commercialisation. Our park provides all the infrastructure, facilities, amenities and programmes needed to help faculty members and companies large and small bring their products into the marketplace”.

UNIVERSITY TECHNICAL TRANSFER

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The Economic Impact of Academic Technology Transfer, a Positive Impact from Research Investment By Fred Reinhart, President of the Association of University Technology Managers (AUTM) What do these things have in common: Google, the nicotine patch, the human papillomavirus vaccine, once-a-day HIV medication, MRI, the GPS and Warfarin â&#x20AC;&#x201C; a blood thinner that is among the most prescribed medications of all time? Each of these successful inventions got its start at a university, leveraging university technology transfer offices to move scientific discoveries from academic organisations to the commercial marketplace.

of Technology (MIT) that led to an improved treatment of damaged joints. Professional athletes are well-aware of the damage their sport may wreak on their bodies. So too are many of the millions of weekend warriors whose age, activities and medical conditions may one day lead to pain brought on by degradation of the cartilage in the linings of their joints. Many of these patients can no longer find pain relief from traditional treatments, but are too young for total joint replacement.

The process typically includes identifying new university research discoveries, determining if development of those discoveries might have the potential to benefit the public and, if so, protecting those discoveries through patents, copyrights and trademarks. Next, development and commercialisation strategies are formed, often with input from professionals with industry experience. After successful promotion and marketing, these discoveries are then licensed to existing private sector companies or a new company is created. The commercial licensee creates a product or service based on the technology and returns a share of resulting revenue to the university to support further research and education.

In this transatlantic alliance, MIT contributed expertise in the fields of tissue engineering and artificial skin while the team from the University of Cambridge shared their expertise in bone replacement and biomaterial innovation. The resulting technology is a porous, bioresorbable tissue that helps stimulate bone and cartilage growth when implanted into the knees and other damaged joints. This solution offers a more effective, economical and less painful alternative to traditional treatment. The ability to effectively repair these damaged joints rather than replacing them may stem the six-fold increase in total knee replacements projected by the year 2030 by the US Centres for Disease Control, and significantly reduce the $36 billion cost to health services of joint replacement.

Commercialisation is a collaborative effort, and it was groundbreaking transatlantic collaboration between the University of Cambridge and the Massachusetts Institute

With a global economy still listless, more attention is turning to university technology transfer as source of innovation and job creation. The Association of University Technology Managers

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UNIVERSITY TECHNICAL TRANSFER

While other numbers may fluctuate from year to year, there is always one constant. As research funding increases, so does the number of promising technologies to protect and license. A look at AUTM data over the past 24 years shows that the number of invention disclosures – potentially patentable or copyrightable discoveries, biological materials, and other types of intellectual property – correlates very closely with total research expenditures in the United States. This also holds true for Canada. Over the years, new questions have been added to the AUTM licensing survey to better assess the economic impact of technology transfer. Fifty-one of the institutions responding to the AUTM survey provided an additional level of detail regarding their start-up activity. These institutions reported that their 1,404 start-ups operational at the end of fiscal year 2014 employed 5,335 people, an average of nearly 11 employees per start-up. Much of this impact is local, with 77% of the startups formed in 2014 having their primary place of business in the home state of the research institution. As the numbers are added up, there is little doubt of the positive impact of academic technology transfer. In March 2015, the Biotechnology Industry Organization (BIO) released a report1 that shows that universities make a profound impact on the economy. For the 18 years studied the report showed that university/non-profit licensing supported as many as 3.8 million “person years of employment”. The impact on US gross industry output was as much as $1.18 trillion and the impact on gross domestic product was as much as $518 billion in 2009 dollars. Despite the successes and impact of academic technology transfer to date, institutions are not relying on past models and approaches. Technology transfer professionals across the globe are diligently looking for new ways to accelerate innovation.

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(AUTM) has been the leader in collecting and reporting technology transfer data. The annual AUTM Licensing Activity Survey tracks licensing income and start-up activity, among other things, in the United States and Canada. The most recent survey focused on data from fiscal 2014. The results revealed that, despite stagnant levels of federal research funding, university and research institution licensing and startup activity continued significant year-over-year growth. The number of issued patents (6,363) topped the previous year’s record numbers. Healthy increases were also reported for the number of start-ups formed (914) and the number of start-ups still active at the end of the year (4,688). Commercial products generated from academic research also grew – increasing by more than a third over the previous year to 965 new products. Net product sales by licensees of academic inventions jumped by more than a quarter over the previous year to $28 billion.

system since 1952. The law switches the US from a firstto-invent to a first-inventor-to-file patent system for patent applications filed on or after 16 March 2013. However, the AIA does not bring the US patent framework into complete harmony with the rest of the world. The law allows for one year grace periods for filing, if the public disclosure was the inventor’s own work. To sustain the growth reported in the AUTM survey, there must be robust and sustained basic research funding to provide a pipeline of great ideas and a system of strong, reliable patent rights to ensure the academic discoveries can be protected. Such rights give the licensee a proprietary position to incentivise and justify investment in development and to ensure that the public ultimately benefits from its research investment, that the lives of people are improved, and that the world is made better by bringing this research to life. About AUTM The Association of University Technology Managers is a non-profit organisation dedicated to bringing research to life by supporting and enhancing the global academic technology transfer profession through education, professional development, partnering and advocacy. AUTM’s more than 3,300 members represent managers of intellectual property from more than 300 universities, research institutions and teaching hospitals around the world, as well as numerous businesses and government organisations. For more information, visit www.autm.net.

Universities are implementing new programmes with a focus on training faculty to collaborate with industry and to become even better innovators, assisting start-ups to find space, funding and management, and improving technology transfer practices without compromising the critical functions of patenting and licensing or underlying academic mission of research, service and education. In terms of patent rights, it will be important to examine how legislation such as the Leahy-Smith America Invents Act (AIA) affects academic innovation in the coming years. The AIA was signed into law by President Barack Obama in 2011 and represents the most significant change to the US patent

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1 The Economic Contribution of University/Nonprofit Inventions in the United States: 1996-2013, March, 2015, Biotechnology Industry Organization (BIO) https://www.bio.org/sites/default/files/BIO_2015_Update_of_I-O_Eco_Imp.pdf

RENEWABLE ENERGY

By Wayne Hicks, Public Affairs representative at the National Renewable Energy Laboratory, Golden, Colorado The drive toward more renewable energy crosses global boundaries and requires collaborative efforts between parties often separated by great distances. The National Renewable Energy Laboratory (NREL) in Golden, Colorado, is about 4,690 miles from London, but it has become a focal point for moving research beyond the United Kingdom. NREL receives the majority of its funding from the U.S. Department of Energy, and its research facilities are open to partnerships with companies both foreign and domestic. Technological advancements can be put to the test, or developed further, through cooperative agreements reached with NREL. The international nature of the laboratory is visible. Flags from the home country of every researcher hang from the rafters in one of the buildings on the 327-acre campus. And inside the many laboratories, research is under way that promises to bridge the gap between furthering renewable energy and its widespread adoption worldwide.

NREL, which in the past has worked with London-based BP, also counted the National Renewable Energy Centre (NaREC) among its UK collaborators. NaREC was formed with a similar mission to NREL’s and, soon after its creation in 2002, the UK organisation contacted its US counterpart for help and advice on setting up a testing facility for wind turbine blades. NREL had the only facility in the United States capable of performing testing of megawatt-size blades. A cooperative R&D agreement – called a CRADA – between NREL and NaREC was expanded to include supporting the Blyth, Northumberland-based company to establish a facility for testing the massive drivetrains required by wind turbines. “We trained their staff and licensed them the technology to set up their first blade test stand capable of testing 70-m blades”, said Walt Musial, principal engineer at NREL’s National Wind Technology Center. Musial, who leads the offshore wind energy research activities at NREL, is credited with the development of the NREL’s facilities to test wind turbine blades and drivetrains. “Their staff came here and they spent several months in our laboratories, learning our procedures and gaining operating experience. During the first couple of years of the CRADA they were over here every other month. During their growing period Photo by Dennis Schroeder / NREL

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Collaboration in Innovative Renewable Energy Development Between the UK and USA

NREL researchers study data on a 3D power system profile timeline, depicting the interaction of renewable energy resources on the grid. They are working in the 3D visualisation room at the Energy Systems Integration Facility (ESIF) at the National Renewable Energy Laboratory in Golden, Colorado.

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Photo by Dennis Schroeder / NREL

RENEWABLE ENERGY

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An aerial photo of NREL’s campus in Golden, Colorado.

when they were just learning, they were heavily dependent on NREL for the development of their facility. We had a very good relationship”. NREL ended its research agreement with NaREC in 2014, the same year the UK company merged with Offshore Renewable Energy Catapult. Musial said the agreement “was dormant for a while. We were keeping it open for possible future collaboration”. Although natural gas accounts for the largest single percentage of what is used to generate electricity across the United Kingdom, at 30%, the reliance of renewable sources is growing, according to the UK’s Department of Energy & Climate Change. During the first quarter of 2015, the most recent period for which statistics are available, the share of electricity generated by renewables increased to 25% from 17% in the same period a year earlier. As the UK produces more renewable energy, the issue surfaces of how to plug that power into the country’s electrical grid. That question brought a Glasgow company called Smarter Grid Solutions to NREL for help. Smarter Grid Solutions is testing its Active Network Management (ANM) software at NREL to quantify how much clean energy it can move onto the grid. The Scottish company was chosen to participate in NREL’s INTEGRATE project – an acronym that stands for Integrated Network Testbed for Energy Grid Research and Technology. NREL is managing the INTEGRATE project for the Department of Energy’s Office of Energy Efficiency and Renewable Energy. Smarter Grid Solutions’s ANM software is already being used in the Orkney Islands, north of Scotland. About 21,000 people live on 20 of the 70 islands. Power on the islands is generated by a series of wind turbines, with the excess electricity exported to the mainland via two subsea cables. The company’s software carefully controls how much renewable energy is added to the mainland grid, eliminating the need to add another cable. If the software registers that wind turbines are producing more energy than can be used or exported, the turbines can be taken offline or have their output reduced.

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“Our software can be thought of as a much more cost-effective alternative to building out additional capacity”, said Chad Abbey, vice president of power systems at Smarter Grid Solutions. “Rather than putting in additional transformers and or upgrading conductors, you have an IT and control approach to essentially make better use of the existing infrastructure to accommodate much higher levels of distributed generation and renewables. That capability is really what we’re trying to demonstrate as part of INTEGRATE”. The test at NREL marked the first US deployment of Smarter Grid Solutions’s software. “One of the overall goals of the INTEGRATE project is to increase the hosting capacity of the grid, allowing the grid to host more renewables without upgrading the infrastructure”, said Brian Hunter, user programme project leader at NREL’s Energy Systems Integration Facility (ESIF). Within ESIF, researchers can use computer simulations and a microgrid to test how renewable energy technology can be connected to the nation’s grid. That is important because a shift is occurring in how electricity is generated, moving from large utilities producing all the power to smaller energy producers adding electricity made from wind and solar power onto the grid. Abbey said connecting with NREL made sense because the national laboratory is well known for testing renewable technologies and the capabilities housed within ESIF. “It really helps to raise the profile of our company and leverage NREL’s amazing testing facilities and talented staff”, he said. NREL also is working with Johnson Matthey, a multinational company with its headquarters near Cambridge, on two separate projects to produce transportation fuels. Johnson Matthey’s expertise includes making the specialty catalysts needed to speed up chemical reactions. “We’ve been looking at developments in the biochemical and biofuels field for quite some time”, said Andrew Heavers, business development director for new technologies at Johnson Matthey. “We bring deep catalyst expertise into this area. One thing we didn’t have is expertise in the biomass processing front, both in the equipment and the know-how that NREL brings. In that sense it’s a great combination of complementary skills”.

RENEWABLE ENERGY

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“Johnson Matthey is a large catalyst corporation, world renown for supplying catalyst for oil refineries for transportation fuel”, said Mark Nimlos, a principal scientist and supervisor for the Biomass Molecular Sciences group in NREL’s National Bioenergy Center. “They have a lot of experience, a lot of facilities that we frankly don’t have. We need thousands of kilograms of catalysts to do these experiments. We can’t prepare those. We can prepare catalysts on a small scale and test them, but we can’t prepare them on that scale with the correct specifications”. Nimlos said he conducts monthly webinars with Johnson Matthey researchers to discuss how the research is going. “It’s very interactive and ongoing. That’s the only way. This works out really well because we can spontaneously discuss how the catalyst works and how to improve it. It’s kind of a continuously iterative process”. A separate project, funded through the Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E), has NREL working in concert with Johnson Matthey, the University of Washington and LanzaTech to develop a microbe and process that can convert methane into a transportation fuel. The university is responsible for optimising the microbe. LanzaTech is developing the fermentation process, NREL will extract the lipids from the organisms while Johnson Matthey will produce the catalysts that will turn the lipids into fuel, for use in diesel engines and jet planes. Methane is a key component of natural gas, but very few vehicles are fuelled by natural gas in the United States. In addition, much methane is vented or flared at well sites because it costs too much to bring it to market, contributing to the amount of greenhouse gases in the atmosphere.

Credit: Lee Jay Fingersh, NREL

ARPA-E created the REMOTE programme – that stands for Reducing Emissions using Methanotrophic Organisms for Transportation Energy – to fund research into turning methane

Photo by Dennis Schroeder / NREL

NREL and Johnson Matthey are attempting to make an economical drop-in gasoline, diesel and jet fuel from nonfood biomass, such as poplar or pine trees. “Drop-in” refers to those fuels created through the blending of renewable fuels with petroleum products. By using heat in the absence of oxygen – a process called pyrolysis – NREL scientists can capture the resulting vapour from the biomass. Johnson Matthey’s expertise comes into play by developing a specific catalyst that can convert the vapour into hydrocarbons similar to petroleum-based fuels.

The Energy Systems Integration Lab (ESIL) in the Energy Systems Integration Facility (ESIF) at the National Renewable Energy Laboratory (NREL) in Golden, CO.

into fuel. The technology to convert methane to hydrocarbon fuels by chemical catalysis exists, but the goal is to find a more cost-effective method that could be scaled to the volumes of natural gas that are currently being flared. The processes envisioned by the REMOTE programme would utilise methanotrophs (bacteria that can grow on methane) to synthesise lipids, an ideal biological feedstock for the production of fuels. “The role of Johnson Matthey has been to develop the catalytic process to convert the methanotrophic lipids into fuels”, said Philip Pienkos, principal manager of the Bioprocess R&D Group of the National Bioenergy Center. “This is a novel approach because the methanotrophs are bacteria that make a lot of phospholipids. The conventional wisdom is that phospholipids can’t be converted to fuels because the phosphorous atom is going to poison the catalyst. Johnson Matthey came on board to demonstrate that phospholipids could indeed be converted to fuels and they have done so”. “Without their contribution all we could make is a bunch of phospholipids”, he said. “We couldn’t make a fuel. So Johnson Matthey was absolutely essential in that critical gap of how we do get from feedstock to fuel”. Pienkos said Johnson Matthey has proven its value as a research partner and will not hesitate to seek the company out again for future projects. “This partnering ultimately becomes about relationships”, he said. “And trust. We’ve got to tell them our secrets. We have to trust that we can tell them about our ideas, that they’re not going to steal them or share them with somebody else. We have a very good relationship with them”. Heavers, who said he would “absolutely” recommend NREL to other companies in the United Kingdom, believes more collaborations will be coming between the national laboratory and Johnson Matthey. “Myself and my colleague Mike Watson are regular visitors to Golden, to the facilities there, and we’ve got to know folks there quite well. I think it’s highly likely there will be some interactions in the future. We’re talking with the teams at NREL all the time about potential new collaborations. We think there’s a very good chance of that happening”. For more information visit, www.nrel.gov

The dynamometer in use at NREL was developed to help wind energy researchers recreate extreme wind conditions on wind turbine drivetrains in a laboratory environment.

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FOREIGN-TRADE ZONES

US Foreign-Trade Zones Offer an Attractive Harbour for Global Companies

Americaâ&#x20AC;&#x2122;s Foreign-Trade Zones programme is open for business, whether the company is US-owned or a foreign-owned affiliate. By offering duty savings, supply-chain efficiencies, and enhanced security, the programme creates a profitable harbour for global companies selling in the United States and around the world. The programme was enacted by Congress in 1934 during the Great Depression to help re-engage US business in world markets. Today the FTZ programme is attracting new applicant companies through its new streamlined regulations, while generating record activity in terms of exports and employment. In 2014, according to the most recent data compiled by the U.S. Foreign-Trade Zones Board, exports from zones reached $99.2 billion. FTZ exports have more than tripled since 2009, far outpacing the growth of overall US exports. Employment in foreign-trade zones in 2014 reached 420,000, the highest number on record. FTZ employment has also outpaced overall US job growth in recent years.

Merchandise admitted to US FTZs in 2014 was $798 billion. Almost two-thirds of that was sourced domestically, demonstrating that zones have become important production platforms where foreign and domestic merchandise is combined by US workers to create value-added final products for sale domestically and abroad. The top industries for zone activity are oil refining, motor vehicle manufacturing, pharmaceuticals, machinery and equipment, electronics, and retail warehouse distribution. FTZ-using companies admitted $288 billion in foreign-sourced inputs in 2014. Just over half of that total is crude oil, but oil imports have been dropping steeply in recent years because of the rapid increase in domestic oil production in the United States. The fastest growing non-oil imports to foreign trade zones for production operations are petrochemicals, vehicle parts, pharmaceuticals and electronics. The fastest growing non-oil imports for warehousing and distribution are consumer electronics, motor vehicles, metals/minerals, pharmaceuticals, and textiles, clothing and footwear.

At the Mercedes campus in Alabamaâ&#x20AC;&#x2122;s FTZ No.98, the manufacturing space is being expanded with a new $1.3 billion project to prepare for production of next-generation SUVs

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By Daniel Griswold, President, National Association of Foreign-Trade Zones

FOREIGN-TRADE ZONES

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Today the programme is home to 2,700 companies, both American and foreign-owned, including such well-known firms as General Electric, Apple Inc., Rolls-Royce, Airbus, Mercedes-Benz, and BMW. More than 250 zones have been authorised across the United States and Puerto Rico, at least one in every state and at every major port of entry, including seaports, airports and land-border crossings. Each zone is a defined area within the geographic United States that is considered outside U.S. Customs territory for purposes of import inspection and duty collection. For companies operating within an FTZ, that means that Customs officers step in to collect duties only when imported goods leave the zone to enter US commerce, not when goods are admitted to the zone from abroad. Goods can be stored in a zone indefinitely and are exempt from state and local ad valorem inventory taxes. Duties can also be deferred on imported production equipment that is used to produce final products authorised for zone production. Duties on the equipment are not collected until the machinery is installed, tested, and actually producing the specified goods. This can produce major savings for manufacturing companies that use sophisticated foreign-made equipment as part of their highly automated production process. For final products that enter the $18 trillion US market from an FTZ, duties can be reduced or eliminated by offsetting “inverted tariffs”. If US tariffs on imported raw materials or components are higher than the tariff on the final product, the zone user can elect to pay the lower, final-product duty on the value of the imported goods when they enter US commerce as part of the final product. Among the industries that benefit most from inverted-tariff relief is the pharmaceutical sector, where duties on final products for the market are typically zero while significant duties remain on the 80% of active pharmaceutical ingredients that are sourced abroad. Relief from inverted tariffs can be especially important to foreignowned affiliates, which are more likely to retain supplier relationships in the home country.

Duties are eliminated entirely on goods that are re-exported, or on imported inputs that are then re-exported as part of a final product. Foreign-owned affiliates can utilise the zone environment in the United States as a “land bridge” to export to North and South America and on to Asia or back to Europe. Duties are also eliminated on imported goods that are then scrapped or destroyed in the production process. Operating in an FTZ can accelerate supply-chain velocity by allowing user companies to utilise “direct delivery” of goods from quayside to the zone. Once approved by the local port director, direct delivery allows the user to ship known and repetitive goods directly to the zone on weekends and after hours, with admission notification filed with Customs the next working day. This can cut one to two days off delivery times into a zone, a huge benefit for companies importing perishables and other time-sensitive goods. The large majority of FTZ user companies qualify for direct delivery. On the entry side, FTZ user companies can realise significant savings on the payment of the Merchandise Processing Fee through the “weekly entry” process. Outside the FTZ environment, companies are liable to pay the MPF on every entry, up to a maximum of $485 per entry. Through weekly entry, which is only available to FTZ-user companies, those payments can be reduced to one per week, resulting in significant savings for the user and a reduction in transactions for Customs. Weekly entry has encouraged major retailers to establish state-of-the art FTZ distribution centres in the United States. Another real benefit of the FTZ programme is enhanced security. By design, FTZs are secure areas with controlled access, background screening of key employees, and enhanced inventory and record keeping controls. U.S. Customs considers participation in the FTZ programme to be a “best practice” for its Customs-Trade Partnership against Terrorism (C-TPAT). The FTZ programme is more user-friendly than ever. Companies new to the FTZ environment can tap into a

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An FTZ warehouse in Zone 20, Chesapeake, Virginia

growing support network of providers offering FTZ inventorymanagement software and third-party logistics, as well as experienced grantees who manage administration of the zones at the local level. New regulations that went into effect in 2012 have streamlined the approval of warehouse/distribution applications to 30 days or less, and of manufacturing/ production applications to 120 days or less in more than 90% of cases. (For the minority of production applications that involve more politically sensitive imported components, the process can take significantly longer and can result in more restricted authorisation). The Alternative Site Framework introduced by the FTZ Board in 2009 means that zone status can come to any operation located within a multi-county service area, rather than operations needing to locate in a centralised industrial park or warehouse district. The programme has proven its effectiveness by attracting new investment in the US manufacturing sector from abroad and the â&#x20AC;&#x153;re-shoringâ&#x20AC;? of US investment. Among the high-profile foreign-owned manufacturing companies in America currently utilising the programme are Ricoh, Mitsubishi, Yamaha, Airbus, L.G. Electronics, Sony, Michelin, Bayer CropScience, AstraZeneca, Kawasaki, BP, Citgo, Konica, Canon Virginia, Samsung, and STIHL. British-owned Rolls-Royce Energy Systems has applied for zone status for a facility in Mount Vernon, Ohio, that produces industrial gas turbines, power generation turbines and generator sets. Imported components include AC generators, industrial gas turbines, turbine bases and gearboxes. One of the most active users of the FTZ programme is the international automobile manufacturing sector. In recent years, active FTZ subzones have been established in the United States by BMW, Mercedes-Benz, Honda, Hyundai, Nissan, Subaru, Toyota and Volkswagen. Their FTZ production facilities employ tens of thousands of American workers in well-paid, sustainable jobs. Combined exports from their FTZ production facilities is more than $10 billion. The FTZ programme is a major factor behind the record export of 2.1 million Americanmade cars and light trucks in 2014.

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International carmakers have also utilised US zones to import finished or near-finished motor vehicles for sale in the US market. Unloading cars into a zone allows the maker to install final finishing parts and then to elect to pay either the duty on the imported part or the finished car, whichever is lower. The duties are not paid until the vehicle leaves the zone and enters US commerce. FTZ No. 74 at the Port of Baltimore is the site of a major importing and distribution zone that has been utilised by both BMW and Mercedes-Benz. British and other European companies looking to invest in the United States should consider the advantages of locating their operations within a foreign-trade zone. The local FTZ grantee should be able to provide advice on applying for authorisation under the new, streamlined regulations. A sophisticated network of software providers, consultants, brokers, third-party logistics providers and other service companies exists to help companies set up and run profitably in the FTZ environment. With all these advantages, the FTZ programme is one more reason to consider the United States as a prime location for expanding operations. Daniel Griswold is president of the National Association of Foreign-Trade Zones (www.naftz.org), which represents more than 600 grantees, operator/ user companies, and service providers throughout the United States. He can be reached at 202-331-1950 x226, or dgriswold@naftz.org.

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SELECTUSA

SelectUSA, Positioning to Generate US Growth and Jobs By Gus Franklyn-Bute, Senior Regional Investment Advisor, SelectUSA – UK & Ireland The recent announcement by the U.S. Secretary of Commerce Penny Pritzker that the Department of Commerce will host the third SelectUSA Investment Summit on 19-21 June 2016 in Washington, DC is a firm signal that the United States remains “Open for business” – a statement which embodies President Barack Obama’s strategy for the sustained rebuilding of the United States economy by generating growth and jobs.

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SHINING LIGHT: THE UNITED STATES AND UNITED KINGDOM’S UNIQUE RELATIONSHIP The enduring transatlantic partnership between the United Kingdom and the United States remains a distinctive conduit for facilitating mutual trade and investment flows. The relationship is a shining light in a complex, global economic arena, which is populated with a myriad of bilateral and regional trade agreements – toolkits for generating national growth and prosperity. The experienced team of commercial and SelectUSA specialists in the U.S. Commercial Service

offices in the US embassies in the UK and Ireland, together with their partners, supporters and associates are the fulcrum for delivering efficient trade and investment services across all industries and sectors. Foreign direct investment (FDI) between the UK and the US has developed over time and remains robust. At the end of 2014, cumulative outward direct investment from the US into the UK hit $587.9 billion, an increase of 2% over 2013’s position. Direct investment from UK into the US reached $448.5 billion at the end of 2014, a fall of 10.5% from 20131. According to the latest UN’s World Investment Report, the 2014 inflow decline is largely attributed to Vodafone’s $130 billion disinvestment of its stake in Verizon Wireless, “without which flows into the United States would have remained stable”. The UK remains the No.1 source for US FDI, accounting for a 15.5% share of total FDI stock followed by Japan with 12.9%. UNITED KINGDOM IN EUROPE – WHAT NOW? The performance of the UK economy and the strategic decisions of executives of small and medium-sized enterprises, large corporations, publically listed companies,

The presentation of the colours and the playing of the National Anthem by the U.S. Marine Corps opens the first day of the 2015 SelectUSA Investment Summit.

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SELECTUSA

as well as of founders of tech start-ups who are expanding to the United States, will be framed by the ongoing regional policy issues circulating in the European Union. High on the agenda is the United Kingdom’s future membership of the EU.

CONFIDENCE IN THE UNITED STATES ECONOMY Business leaders are buoyant about the US economy. A.T. Kearney’s 2015 Foreign Direct Investment Confidence Index – ‘a forward looking ranking and analysis of how political, economic, and regulatory changes will likely affect a country’s FDI inflows’ – provides critical insights on the medium-term economic outlook for key markets around the world. For the third year in succession, the United States tops the index, leading second-place China, which shrank from last year’s record-setting margin. Forty six per cent of the executives surveyed, disclosed a greater optimism about the US economic position than a year ago, with only 10% more pessimistic.

Further, the ongoing negotiations of the Transatlantic Trade and Investment Partnership (TTIP) between the United States and the European Union are gathering pace. The dialogue on TTIP’s potential impact on business and society is expected to intensify in the final stages of negotiations. President Obama’s position is clear:

“ Having the UK in the EU gives us much greater confidence about the strength of the transatlantic union, and is part of the cornerstone of the institutions built after [the Second World War] that has made the world safer and more prosperous. We want to make sure that the United Kingdom continues to have that influence”2

The US economy’s incremental return to growth is a notable factor for executives developing strategic plans for investment and expansion in the US. The A.T. Kearney Index sheds further light on why the US continues to be the world-leading destination for foreign direct investment. The table below is revealing. It identifies market size; good regulatory factors that make doing business easy; lack of corruption; a general secure environment; a talented and skilled workforce; highquality infrastructure; government incentives; and favourable tax rates as high priorities3. SELECTUSA: SHOWCASING THE UNITED STATES AS THE WORLD’S PREMIER BUSINESS LOCATION

U.S. PRESIDENT BARACK OBAMA

What are the most important factors to your company when choosing where to make foreign investments?

(% of respondents)

Domestic market size

25%

Transparency of government regulations and lack of corruption

22%

Tax rates and ease of tax payment

22%

General security environment

21%

Cost of labour

20%

Efficiency of legal and regulatory processes

20%

Government incentives for investors

18%

Talent and skill level of labour pool

17%

Ease of moving capital into and out of country

17%

Availability of financial capital in domestic market

15%

Strength of investor and property rights

15%

Quality of transportation infrastructure

11%

Availability of raw materials and other inputs

11%

Country’s participation in regional and bilateral trade agreements

11%

Quality of telecommunications infrastructure

10%

Quality of electricity infrastructure

Availability of land and real estate

Availability of inputs

Infrastructure

Government regulations

Labour

Financial and legal environment

Market size

Note: Respondents selected three factors. Source: A.T. Kearney Foreign Direct lnvestment Confidence lndex®, 2015

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Security

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The SelectUSA programme in the UK and Ireland is actively engaging with investor firms that are exploring US expansion. The programme is responding to the growing appetite of UK companies seeking to capture a share of the vast consumer

SELECTUSA

Secretary of Commerce Penny Pritzker leads the opening session and welcomes participants to the first day of the 2015 SelectUSA Investment Summit.

spending power, access to a sophisticated capital market and an adventurous venture capital landscape.

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In 2014, average expenditures per consumer unit4 were $53,495, a 4.7% increase from 2013 levels, according to the U.S. Bureau of Labor Statistics. In 2013, spending decreased 0.7%5. SelectUSA is positioned to support companies at any stage of their US plans, including UK firms with existing US operations further expanding across the US, as well as those utilising their US entities to export to third-country markets. In addition, SelectUSA continues to work closely with the economic development organisations (EDOs) of each state, region and county to ensure investor firms are efficiently connected to local contacts and tap into business opportunities and state-defined incentive programmes. Indeed, while SelectUSA is geographically neutral in its services, EDOs remain highly proactive in targeting the UK and European firm to win foreign direct investments. The SelectUSA’s UK team in the Embassy’s U.S. Commercial Service is focused on adding value to both investors and EDOs, always with the objective of creating growth and jobs in the United States.

technology and digital firms eager to explore the investment opportunity to scale up their companies in to the United States. The seminar series delivered practical information, which any savvy tech founder would need to comprehend about the US business environment: legal, tax, accounting, insurance, visa/ immigration and finance. The @SelectUSATech engagement continues to grow in the UK and Ireland, expanding to an inaugural SelectUSA Financial Technology (FinTech) delegation to Washington DC, New York City and Boston in November 2015, led by US Ambassador, Matthew Barzun. The SelectUSATech seminar series are set to return in 2016. 2016 will be marked by inevitable changes in both the United Kingdom and the United States. Leaders will come and go; measurements of market and economic performances will rise and fall; and trade and investment transactions will ebb and flow according to vagaries of policies, agreements and regulations. As time transitions into 2016, one prediction is a fair certainty: the enduring bond between the United States and the United Kingdom will continue, and it is the ambition of the SelectUSA team in the UK, Ireland and US to be best positioned to facilitate the long term trade and investment links towards the creation of economic growth and jobs.

As a US federal government initiative, SelectUSA is fast becoming the go-to point of contact for UK companies to gather quality information and support as they build their market entry strategies. SELECTUSATECH

Established by Executive Order of the President, SelectUSA is a government-wide initiative to promote business investment in the United States by both domestic and foreign firms. To learn more, visit www.SelectUSA.gov.

In 2014 the U.S. Commercial Service piloted a series of investor ready roadshows in London, Edinburgh and Belfast, under the banner of “SelectUSATech”, aimed at UK start-ups,

U.S. Bureau of Economic Analysis. Overview U.S. International Trade in Goods and Services http://www.bea.gov/international/factsheet/factsheet. cfm?Area=327 (assessed October 18, 2015)

Consumer units include families, single persons living alone or sharing a household with others but who are financially independent, or two or more persons living together who share expenses.

BBC North America editor, Jon Sopel interview with President Barack Obama, 24 July, 2015 http://www.bbc.co.uk/news/uk-politics-33647154 (accessed October 18, 2015)

A.T. Kearney Foreign Direct Investment Confidence Index®, 2015, Connected Risks: Investing in a Divergent World https://www.atkearney. com/research-studies/foreign-direct-investment-confidence-index/2015/ publication

Bureau of Labor Statistic, U.S. Department of Labor, Consumer Expenditures – 2014, New Release, Thursday, September 3, 2015 Ref: USDL-15-1696 http://www.bls.gov/news.release/pdf/cesan.pdf (accessed October 25, 2015)

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US STATE WEBSITES

State Economic Development Websites For further information on the benefits of business expansion within individual states, visit:

Maryland – commerce.maryland.gov/international

Florida – www.enterpriseflorida.com

Minnesota – www.mn.gov/deed

Illinois – www.illinois.gov/dceo

New York – global.ny.gov

Kansas – www.kansascommerce.com/kbiz

South Carolina – sccommerce.com

Kentucky – www.thinkkentucky.eu

Wisconsin – invest.inwisconsin.com

Alaska – www.gov.state.ak.us/trade

Nevada – www.diversifynevada.com

Arizona – www.azcommerce.com

New Hampshire – www.nheconomy.com

Arkansas – www.arkansasedc.com

New Jersey – www.choosenj.com

California – www.business.ca.gov

New Mexico – nmpartnership.com

Colorado – www.AdvanceColorado.com

North Carolina – www.edpnc.com

Connecticut – www.decd.org

North Dakota – www.ndbusiness.com

Delaware – global.delaware.gov/invest

Ohio – www.jobs-ohio.com

Georgia – www.georgia.org

Oklahoma – OKcommerce.gov

Hawaii – hsdc.hawaii.gov

Oregon – www.oregon4biz.com

Idaho – commerce.idaho.gov

Pennsylvania – www.newPA.com/invest

Indiana – www.iedc.in.gov

Rhode Island – www.commerceri.com

Iowa – www.iowaeconomicdevelopment.com

South Dakota – www.sdreadytowork.com

Louisiana – www.opportunitylouisiana.com

Tennessee – www.tn.gov/ecd

Maine – www.investinmaine.net

Texas – www.texaswideopenforbusiness.com

Massachusetts – www.mass.gov/hed/moiti

Utah – business.utah.gov

Michigan – www.michiganbusiness.org

Vermont – ThinkVermont.com

Mississippi – www.mississippi.org

Virginia – www.YesVirginia.org

Missouri – www.missouripartnership.com

Washington – www.choosewashingtonstate.com

Montana – www.business.mt.gov

West Virginia – www.WVDO.org

Nebraska – www.neded.org

Wyoming – www.wyomingbusiness.org

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REGIONS

Alabama – www.madeinalabama.com

NORTH ATLANTIC REGION

North Atlantic Region

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If you’re looking to start, grow or move your

NORTH ATLANTIC REGION

business to Maryland, we can connect you to the right resources —financing programs, tax incentives, exporting, site location assistance and more. Visit commerce.maryland.gov or call 888-246-6736.

Let’s talk.

T:9.5 cm

NEW YORK STATE. WHERE HIGH-TECH MEETS NO TAX.

IC T N A L A T A N E O C

T:8.5 cm

Zero taxes for 10 years. That’s what qualified high-tech businesses can expect when they join START-UP NY. Businesses will also benefit from a healthy ecosystem of high-tech companies and a highly educated workforce. How can we help your business? Find out at ny.gov/business

Port of Oswego Oswego, NY

Oswego County, NY Small-Town Feel, International Reach

• Pro-business community within 400 miles of most major Northeast U.S. and Canadian markets.

This advertisement was prepared by BBDO New York

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• Multimodal region with easy access to rail, deep-water port, major highways & international/freight air transport.

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NORTH ATLANTIC REGION

NEW YORK – A MESSAGE FROM THE GOVERNOR

More than 400 years ago, New York was a trading seaport. Today, trade is still what makes New York, New York – and we are the centre of international trade and commerce. It’s no surprise that many UK firms, including BAE, Cobham and National Grid, have chosen to base their US operations in New York. We have always enjoyed a unique cross-Atlantic relationship, with significant binational and bilateral trade and investment. We don’t have one State of New York. We’re not one competitive market. We have 10 different regions. And each region is essentially a market and a business centre unto itself. While New York City has been long synonymous with banking, finance, communications, media and entertainment, today’s Empire State offers so much more. And to help you navigate New York’s “new” economy, we’ve launched Global NY, with staff working around the state and around the globe. Global NY has an office in the UK, as well as offices in Canada, China, Israel, Mexico and South Africa. As Governor, I have made new business creation a priority. For many years, New York had an antibusiness reputation and took business for granted. When I came to office, we said we were going to change the entire culture. We cut taxes and aggressively marketed New York, and we’re working with global business leaders to offer them the best deals possible to come here. Over the past two years, I’ve overseen the creation of START-UP NY, which creates tax-free areas associated with colleges and universities across the state in order to spur economic growth. STARTUP NY may be a great fit for new, innovative and expanding UK businesses looking to operate 100% tax-free for 10 years. There’s never been a better time to consider New York and to see why so many of your fellow British firms call New York home. British firms in industry sectors ranging from advanced automation, manufacturing and agriculture to biotech, nanotech, photonics and clean technologies – and many others – will find welcoming partners here. Today, New York is a global leader and innovator in high tech and our innovation ecosystem is unmatched. We have all you need to succeed: abundant raw materials and major-market proximity, all accessible by superior highways, rail, airports and ports; a top-notch, talented workforce; and a state government that understands the importance of global partnerships. The time has never been better to build your business in New York. It’s clear that I LOVE NY. I know that you will, too. Andrew Cuomo Governor

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New York

New York is the centre of global commerce and technological innovation – the UK is New York’s premier investment partner. Businesses are drawn to New York‘s cost-competitive locations, effective business marketing strategies and to Governor Andrew M. Cuomo’s re-imagined approach to economic development. The UK’s sizeable New York presence is reflected in inward investment of $17.1 billion and 82,500 jobs, through companies including BAE Systems, Thompson Reuters Group and Serco. New York has encouraged innovation and harnessed the State’s signature strengths: unparalleled academic and research centres, a highly skilled workforce, and innovative industries and technologies. With the launch of Global NY, New York has staff working around the state and around the globe to find opportunities for businesses – with offices in the UK, Canada, China, Israel, Mexico and South Africa. New York State’s rankings demonstrate its leadership in attracting international investment, as well as business retention and expansion. The Empire State is: • The 14th largest economy in the world. • The No.2 destination for foreign direct investment (FDI), with New York City a leader in attracting FDI headquarter operations. • No.3 in the nation for FDI employment based on 388,500 jobs created by internationally-owned affiliates in 2010.

• No.2 nationally for attracting international students – 98,906 in 2014. More than a million students are enrolled in undergraduate and graduate programmes at more than 300 colleges and universities. More than 34% of all adults have completed four or more years of college. • Home to more than 20,000 high-tech firms, including: SEMATECH, General Electric, IBM, Tokyo Electron and the expanding GlobalFoundries Chip Fab and Technology Campus; home to 55 Fortune 500 companies; and home to more than 50 business incubator facilities. • Home to The Global 450 Consortium, after competing against Europe, Asia and the Middle East. Five leading international companies – IBM, Intel, Samsung, GlobalFoundries and TSMC – are investing $4.4 billion to create the next generation of computer chip technology in New York State. This historic investment marks an unprecedented level of private investment in the nanotechnology sector in New York and will create and secure approximately 6,900 jobs. Industry sectors with strong representations/ strategic clusters in the State include: • Agricultural & Food Processing • Business & Professional Services • Clean Technologies • Communications & Media Services • Distribution • Fashion & Apparel • Financial Services • High-Tech Electronics & Software • Industrial Machinery & Systems • Insurance • Life Sciences • Materials Processing • Nanotechnology • Optics & Imaging • Transportation Equipment Let Global NY welcome you to New York with the financing, incentives and site selection to help your businesses compete in the global marketplace. Visit global.ny.gov For more information, contact: Ed Kowalewski Director, International Investment Programs Empire State Development Tel: +1 716-846-8237 Email: edward.kowalewski@esd.ny.gov Website: global.ny.gov www.esd.ny.gov

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NORTH ATLANTIC REGION

NEW YORK

NORTH ATLANTIC REGION

MARYLAND – A MESSAGE FROM THE GOVERNOR

STATE OF MARYLAND OFFICE OF THE GOVERNOR

Dear Friends, I am excited to share with you what makes Maryland a great state to live, to work and to do business. When I took office in January 2015, I pledged that we would create a culture in Maryland that would put business first by providing the tools and resources needed to succeed, ensuring that we have a highlyskilled and highly-educated workforce and reducing obstacles to growth. We are making tremendous progress and I invite you to explore why Maryland would be the ideal place for your next US venture. Our strategic location in the heart of the mid-Atlantic region puts Maryland within an overnight drive to one-third of the US population. Washington, DC, with its key federal facilities and research labs, as well as history and culture, is in our backyard and we are driving distance from major cities like Philadelphia, New York and Boston. Our world-class Port of Baltimore is the closest East Coast port to the US midwest. In 2014, the Port handled nearly 800,000 automobiles – the highest among all US ports for the fourth consecutive year and part of a record 9.7 million tons of cargo came through Baltimore’s public marine terminals last year. In addition, BWI Thurgood Marshall Airport welcomes more than 22 million visitors each year and our international passenger traffic is continuing to grow. Our state boasts a wealth of hardworking, talented and highly-educated people. Our public schools are among the top in the nation and we are home to world-renowned higher education institutions, including the U.S. Naval Academy and two of the top 50 universities worldwide: the University of Maryland and Johns Hopkins University. We have more doctoral scientists and engineers in our workforce than anywhere else in the country and have one of the highest concentrations of professional and technical workers in our labour force. Our focus on education has produced a community of innovators and entrepreneurs. High-tech, highgrowth sectors form the foundation of our economy, including cybersecurity, life sciences, aerospace and defence and advanced manufacturing. Maryland is often called the “Home of the Human Genome” and we are home to more than 2,000 life sciences companies that are working on everything from cutting-edge medical devices to treatments for cancer, malaria and the Ebola virus. The growing international sports apparel company Under Armour is based in Baltimore, as are global giants like McCormick and Marriott Corp. And, we are home to the top federal research facilities in the US, including the National Institutes of Health, the National Cancer Institute, Johns Hopkins Applied Research Laboratory and the National Institute of Standards and Technology. We are proud that more than 100 British companies call Maryland home, including BAE Systems, Lipton and Unilever. At the Port of Baltimore, Aston Martins, Jaguars, McLarens and Mini Coopers roll off ships on their way to auto dealerships around the country. Smiths Detection, the engineering firm based in London, brought product development and manufacturing operations from other parts of this country and Europe and established its US headquarters in Maryland in 2012. And, British Airways makes regular flights between Heathrow and Baltimore-Washington International Thurgood Marshall Airport. So come join Smiths Detection and Lipton. Join BAE and British Airways. Watch your products unloaded at the Port of Baltimore alongside Jaguars and Mini Coopers. Thank you for your interest in Maryland. We hope to see you soon.

Larry Hogan Governor, State of Maryland STATE HOUSE, ANNAPOLIS, MARYLAND 21401 (410) 974-3901 1-800-811-8336 TTY USERS CALL VIA MD RELAY

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Maryland

RESOURCE-RICH MARYLAND Hundreds of foreign-based companies already know why Maryland is a “must location” for international investment. Resource-rich Maryland provides one-of-a-kind strategic assets for foreign businesses looking to expand or grow in the US – and it all begins with its natural, unparalleled global location. For starters, Maryland’s mid-Atlantic location on the east coast of the United States, next door to the nation’s capital, offers proximity and access to 176 resident embassies and key US and international decision makers and partners. In tandem, more than 350 federal and academic centres – bolstered by the highest proportion of doctoral scientists and engineers in the nation – stimulate research and development for the state’s technology savvy industries. LOCATION ENVY Roughly halfway between Boston and Atlanta, London and Los Angeles, Maryland’s enviable location is in the heart of one of the nation’s busiest commercial corridors and one of the most comprehensive transportation networks along the eastern seaboard, reaching a third of the US population within an overnight drive.

11,480 information technology businesses, 16 National Security Agency certified Centres of Academic Excellence and a workforce of nearly 138,000 industry-related workers converge in Maryland – all in arm’s reach of each other. ADVANCED MANUFACTURING Sixty per cent of Maryland’s 3,660 manufacturing businesses are a diverse blend of industries that include defence electronics, aeronautics, systems engineering, medical diagnostics, specialty chemicals, software and aircraft engines. Companies produce heavily engineered, customised products include sensors, medical devices, electronics and capital equipment. AEROSPACE & DEFENCE Maryland is a thriving location for space exploration, satellite technology and research, design and manufacturing of Unmanned Aircraft Systems (UASs) and robotics. Maryland includes Department of Defense related activities such as biodefence, cyber security, avionics and ordnance and weapons testing. The state’s 8,580 A&D businesses includes R&D super giants NASA, NOAA, NSA and private enterprises like Lockheed Martin, Northrop Grumman, KEYW and UAV Solutions.

Referred to as the “Start-up State”, Maryland’s diverse economy is rooted in Information Technology and Cybersecurity, Aerospace and Defence, BioHealth Technology, Advanced Manufacturing, Financial Services, and Energy and Sustainability.

BIOHEALTH TECHNOLOGY Maryland represents one of the largest life sciences clusters in the US with 500+ biotech firms, 2,100 life science companies, the National Institutes of Health (NIH), the Food and Drug Administration (FDA), Johns Hopkins University, the University of Maryland, and plenty of funding and guidance resources. Companies working in agriculture and marine bio, bio-defence, clean technology, mHealth, telemedicine, electronic health records, bioinformatics, wellness and many more related fields are well represented in Maryland.

INFORMATION TECHNOLOGY & CYBER SECURITY A hotbed of software services, electronics and telecommunications firms, including a critical mass of cyber security organisations, Maryland is the nation’s epicentre for the powerful cyber security industry. The U.S. Cyber Command, NIST’s National Cybersecurity Center of Excellence, Johns Hopkins Applied Physics Laboratory,

ENERGY & SUSTAINABILITY Maryland’s natural gas, electricity and nuclear power companies are joined by solar, wind, geothermal and biomass as energy enterprises with a shared vision toward an energy sustainable Maryland. An early leader in establishing an Renewable Portfolio Standard (RPS) goal of 20% by 2022, the state enacted legislation in May 2012 to accelerate the RPS for

“START-UP STATE” WITH A DIVERSE ECONOMY

The Inner Harbor is an historic seaport, tourist attraction, and landmark of the city of Baltimore, Maryland, USA.

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NORTH ATLANTIC REGION

MARYLAND

NORTH ATLANTIC REGION

MARYLAND

Maryland Port Administration’s Port of Baltimore is one of the largest ports in the United States and one of only two US East Coast ports with super Post-Panamax ready cranes, a 50-foot deep channel and 50-foot deep berth. Serving over two thirds of the eastern seaboard, the Port is second only to New York in gross tonnage. Maryland’s total export cargo is up more than 52% since 2007 while the value of Maryland’s manufactured exports has grown over 29% since 2009.

Sailing races on the Chesapeake Bay

solar production by two years. The state’s 1,260 energy and sustainability businesses generate $7.99 billion in gross state product. FINANCIAL SERVICES Financial services in Maryland comprises 8,340 businesses and employs over 93,000 people. Established powerhouses such as T. Rowe Price, Legg Mason and CareFirst are headquartered in Maryland and recognised industry leaders in Baltimore include Brown Advisory, DF Dent and New Enterprise Associates. Class A office space, a separate power grid from New York City and a robust, fibre-rich telecommunications network make Maryland an ideal location for back office operations. SMART, SPIRITED R&D POWERHOUSE One of the nation’s key research centres, Maryland is a powerhouse of spirited, smart people, big ideas and innovative thinkers tackling complex challenges like unlocking the genetic code and servicing the Hubble Telescope. Of the 50 states, Maryland ranks second in total federal funding for research and development, and first in National Institutes of Health R&D contract awards. The state has 55 higher education institutions and more than 70 federal laboratories fuelling myriad opportunities for pioneering knowledge in advanced technology. Its sustainable workforce also leads the nation in employed PhDs per capita in mathematical, health and biological sciences. SKILLED WORKFORCE • 1st among the states in percentage of professional and technical workers in the workforce • Highest proportion of doctoral scientists and engineers in the nation • 2nd in the percentage of women-owned firms as a share of all firms • Skilled manufacturing workers with experience in almost every type of industrial area MAJOR ACADEMIC RESOURCES • Johns Hopkins University • University System of Maryland (11 campuses) • U.S. Naval Academy • Morgan State University KEY FEDERAL FACILITIES • Aberdeen Proving Ground • Fort Detrick • Fort George G. Meade/NSA Cyber Command • National Institutes of Health • Patuxent River Naval Air Station

World Trade Center Institute (WTCI), the largest international business network of its kind in the mid-Atlantic region, is dedicated to growing Maryland’s global business community. More than 18,000 clients benefit from WTCI’s global connections, events, international visitors programme and extensive global business services. In addition, WTCI serves as the World Bank Group’s Private Sector Liaison Officer (PSLO) for the region, enabling local firms to access opportunities in developing countries. MARYLAND DEPARTMENT OF COMMERCE Maryland’s primary economic development agency stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing workforce training and financial assistance to Maryland companies. The Department of Commerce promotes the state’s many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. OFFICE OF INTERNATIONAL INVESTMENT AND TRADE (OIIT) The Department of Commerce’s Office of International Investment and Trade is Maryland’s trade and investment promotion unit with a global network of nine international offices. Headquartered in Baltimore, the Department’s team of trade and investment professionals has a wealth of experience in the international arena to help companies manage and expand their global business. OIIT assists Maryland companies to grow their international business and attracts foreign direct investment into Maryland. FDI value added services we offer include: • Customised market research • Site selection and meeting arrangements • Identifying investment opportunities, locations and partners in Maryland • Introductions and access to potential partners, public and private companies and organisations • Information on Maryland’s business, governance and regulatory framework LET’S TALK BUSINESS. For additional information contact: Signe Pringle, Program Director Office of International Investment and Trade Tel: +1 410-767-3542 Email: signe.pringle@maryland.gov Website: commerce.maryland.gov/international

GLOBAL OUTREACH EXPANDS OPPORTUNITIES Maryland International Incubator is a first-of-its-kind facility dedicated to attracting and growing foreign-owned companies to the state. The incubator provides research and development, business development support services and competitively priced space to foreign-owned companies looking to establish a US presence.

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Connecticut

Connecticut has created a business-friendly environment that attracts investment, spurs job growth and helps industries become more competitive in the ever-changing global marketplace. Europe is the leading destination for the state’s export commodities, and the UK is consistently among the state’s top 10 trading partners. Examples of UK firms operating in Connecticut include GKN, Diageo and Smiths Group. Connecticut offers foreign-owned companies a variety of advantages. STRATEGIC LOCATION Connecticut is a great place to start or grow a business. The state is at the centre of the north eastern seaboard with Boston to the north and New York City to the south. Connecticut is within a 500-mile radius of one-third of US customers and twothirds of Canada’s. Here in the heart of America’s business corridor, you will have ready access to major markets, financial centres and universities, as well as hundreds of prospective suppliers and business partners. Connecticut has one of the highest percentages of corporate and divisional headquarters, with 15 Fortune 500 companies that call Connecticut home. Connecticut’s strategic location is your competitive advantage. A MODERN TRANSPORTATION NETWORK In Connecticut, the world is at your fingertips. Connecticut has a modern, comprehensive transportation network of airports, ports, railways and roads that make trade profitable and business and recreation travel a pleasure. Our rapidly expanding Bradley International Airport jets you to destinations across the country and around the world, and the state is advancing its investment in mass transit, rail service, highspeed busways and road building. Long Island Sound ports link with our rail lines and highways to distribute goods throughout the north eastern US and Canada, and our east coast location makes it easy to do business with Europe. Interstate motorways make the Port Authority of New York and New Jersey and Massport less than a two-hour drive from most Connecticut points. DYNAMIC, HIGHLY SKILLED WORKFORCE The best and the brightest is an apt way to describe Connecticut’s workers. Connecticut boasts 42 colleges and universities. Our world-class research institutions turn out highly educated workers and entrepreneurs. Employee productivity is at an all-time high, with output per worker more than 33% above the national average, which ranks Connecticut 4th among the states. The state has a highly

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educated workforce with the number of adults holding advanced degrees ranking 3rd in the nation. Connecticut ranks 5th in the number of scientists and engineers in the workforce. Connecticut is a leader in patents, ranked 7th in the US, and Connecticut is ranked as the 4th most innovative state. Superior education and training will guarantee that you will get work done here and get it done right. CONCIERGE SERVICE Connecticut’s Department of Economic and Community Development (DECD) acts as the point of contact to help businesses access the wide array of technical assistance and financial resources available to help start and grow in the state. From project inception to completion, Connecticut can provide site selection assistance, streamlined registration and licensing processes, fast-track permitting, technical and job training, lean manufacturing, plant layout, engineering assistance, business counselling services, public and private strategic partnerships, in addition to financial incentives and tax credits. INCENTIVES FOR GROWTH Connecticut offers customised incentive packages to help businesses strengthen their competitive edge and support growth and job creation. This includes direct financial assistance in the form of low-interest loans with flexible rates and terms, incentives for large scale projects, grants, debt and equity financing, early-stage funding, as well as access to local and regional revolving loan funds. Numerous tax credits, tax exemptions and tax abatements are available at the state level, while municipalities may offer property tax incentives. INTERNATIONAL ACTIVITY Foreign-controlled companies employ more than 100,200 Connecticut workers. Foreign investment in Connecticut was responsible for more than 7% of the state’s total privateindustry employment. Connecticut ranks 4th per capita in the total number of jobs at US subsidiaries. Connecticut is also a leading export state, ranking 18th in per capita exports. Europe is the leading destination for the state’s export commodities. Aircraft, spacecraft and parts thereof lead Connecticut’s commodity exports. The state regularly showcases its aerospace assets at the Farnborough and Paris Air Shows. For more information, contact: Connecticut Department of Economic and Community Development 505 Hudson Street Hartford, Connecticut 06106 Tel: +1 860-270-8013 Email: Beatriz.Gutierrez@ct.gov Website: www.decd.org

NORTH ATLANTIC REGION

CONNECTICUT

NORTH ATLANTIC REGION

DELAWARE

Delaware

With its pro-business environment, high quality workforce and outstanding research universities, Delaware is among the strongest economies in the region and is ranked first in foreign direct investment by the Information Technology and Innovation Foundation. The state’s strategic location and competitive cost of doing business attract new business and capital investment in a number of key growth industries, including bioscience, finance and information technology. “When we looked at potential sites for Zacros America, Delaware had the best workforce and the right location. We felt that Delaware wanted to promote manufacturing more than the other options we were considering. We also saw the greatest potential for a strong partnership with the state and its business community”. Maurice LeCompte, Vice President of Zacros America’s Hedwin Division, who announced on 28th April 2015 that it will move to Delaware. LOCATION ADVANTAGES Delaware is at the centre of the country’s largest consumer market, with 40% of the US population within just one day’s drive. New York City, Washington, DC, Philadelphia and Baltimore are all less than 130 miles away and easily accessible by car, train, sea and air. COST OF DOING BUSINESS Delaware has the best business tax climate in the mid-Atlantic, as ranked by the Tax Foundation, and ranked first in economic output per job by the U.S. Chamber of Commerce. There is no sales tax, personal property tax, unitary tax, machinery or equipment tax in Delaware, and there is no state real property tax for businesses or individuals. In addition, Delaware does not tax businesses for inventory, process machinery or equipment. In addition to having a business friendly tax climate, Delaware also offers many tax credits and business incentives. DELAWARE’S KEY INDUSTRIES • Bio-Science: 80% of the US pharmaceuticals industry is located in the region, making Delaware’s bio-science industry one of the strongest in the United States. Key operations in Delaware include DuPont, Fraunhofer and AstraZeneca • Information Technology: Delaware has the third-highest concentration of IT jobs in the nation, a reflection of its technology-driven economy. Key operations include Labware, MySherpa, CAI and SevOne • Chemical Manufacturing: Pharmaceuticals, industrial chemicals, plastics and other synthetics are Delaware’s primary manufactured products, and the industry is among the State’s top sectors for employment and revenue. Key operations include Gore, Air Liquide and Croda

• Energy and Clean Tech: Delaware is among those states leading the nation in solar energy. In 2013 the state ranked 7th per capita for cumulative solar installations, and Wilmington ranked 3rd among cities nationwide for solar capacity per capita. Key operations include Bloom Energy, Motech and Standard Solar • Logistics: Delaware’s location at the heart of the north east corridor offers logistics services providers, transportation companies and distribution operations a competitive edge. Key operations include UPS, Amazon and Trinity Logistics • Finance and Insurance: Delaware has been a leader in the finance and insurance sector for more than 25 years, the result of a supportive, pro-business legal environment and favourable tax legislation. Key operations include Barclays, Deutsche, UBS, Bank of Montreal and RBC Royal Bank • Corporate and Legal Services: 83% of all new US initial public offerings chose to incorporate in Delaware. The state remains the chosen home for more than half of all US publicly traded companies and 65% of Fortune 500® companies. Key operations include CT, Corporation Service Company, Richards Layton & Finger, Skadden and Potter Anderson & Corroon • Defence: Defence contractors value Delaware’s strategic location, strong military presence, skilled workforce and opportunities to leverage the state’s excellent universities. Key operations include Honeywell, Beechcraft and ILC Dover • Agribusiness: Delaware is the one of the country’s leading producers of broiler chickens and lima beans, and a significant producer of soya beans, maize, watermelons, peas, potatoes and dairy products. Key operations include Allen Harim, Perdue and Hanover NOTABLE DELAWARE INNOVATIONS • Designer proteins, gene microsurgery and molecular scissors are among the innovations happening at the Center for Translational Cancer Research at Christiana Care in Delaware • Unparalleled food, nutrition and agricultural science, Nylon, Tyvek and Kevlar created by DuPont • Multi-touch technology used in the first Apple iPhone® was created at the University of Delaware For more information, contact: Andrea Tinianow, Director Global Delaware Delaware Department of State 820 N. French Street, 4th Floor Wilmington, Delaware 19801 Tel: +1 302-577-8464 Email: global@delaware.gov Website: global.delaware.gov/invest

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Maine

Maine’s location on the eastern-most point of New England is a key asset. The state is literally on top of the world’s fourth largest economy – the 500-mile corridor between Boston, New York, Philadelphia, Baltimore and Washington – home to 55 million consumers. Quebec and the Canadian Maritimes are next door, and Maine is the closest state to Europe and its markets. In 2013, Iceland’s refrigerated container shipping line Eimskip moved its North American hub from Virginia to Portland, Maine – illustrating the state’s desirability as a location – and establishing an ever-closer link between Maine and Europe through Iceland. A new cold storage facility is scheduled to open in 2017 and will expand current capacity by 120,000 sq. ft. The facility will be another boost to the state’s growing food sector as seafood, agricultural commodities and prepared foods amounted to $557 million in exports in 2013. Complementing this economic activity is the University of Maine’s new Food Pilot Plan at the School of Food and Agriculture in Orono. The facilities are available to faculty, staff and students, as well as businesses which can access the equipment and expertise in food science, processing and safety.

The university is also working with industry at the Advanced Engineering and Composites Center where developments in the sector recently earned its director, Habib Dagher, White House recognition. Habib was the primary developer of the Bridge-in-a-Backpack, a lightweight, easily deployable structure using hollow composite tubing and concrete. Collaboration with industry expertise also includes development and testing of composite components for commercial and non-civilian use, as well as marine infrastructure where composites can be an attractive alternative to steel. As the composites industry had its beginnings in the 400-year tradition of boat-building, the development in non-wovens emerged from Maine’s pulp, paper and textile industry. This sector has branched into highly-engineered materials in an extensive number of applications from Tex Tech Industries, the world’s largest manufacturer of tennis ball felt, to Auburn Manufacturing, a global leader in extreme temperature protection. Expertise and medical applications by companies such as Biovation, manufacturer of bio-based, non-woven healthcare and packaging products, attracted companies such as Mölnlycke Health Care of Sweden and InSphero of Switzerland. Maine has more than 100 entities in the life sciences that research, develop and produce solutions, including Jackson Laboratory, an independent, non-profit focusing on mammalian genetics research. Chief among the state’s strengths is a comprehensive supply chain for the development and production of diagnostic technologies including membrane production, reagent provision and manufacturing. In addition, there is significant activity in the animal health area with key companies such as IDEXX supporting a unique supply chain. Maine’s culture of innovation, industry/education collaboration and accessibility to world markets are a sample of the characteristics that contribute to its attraction to businesses. The state’s capabilities in food/agriculture, advanced materials and life sciences represent growing opportunity hubs for investment. Its remarkable natural beauty is one more incentive. We look forward to welcoming you to Maine. For more information, contact: Maria McIntyre Managing Director, Invest in Maine Tel: +1 207-541-7400 Direct line: +1 207-553-7719 Email: mcintyre@mitc.com Website: www.investinmaine.net

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NORTH ATLANTIC REGION

MAINE

NORTH ATLANTIC REGION

MASSACHUSETTS

Massachusetts

From its world-class universities and hospitals, to its vibrant economy and broad base of support industries, Massachusetts has all the ingredients your business needs to thrive: • One of the most highly-educated workforces in the nation. With close to 300 colleges, universities, research institutions and teaching hospitals, Massachusetts has the highest concentration of educational institutions in the US and has produced half of all the Nobel Prize winners in the country • A capable and reliable group of local suppliers that gives businesses a strong support network and a distinct competitive advantage • A state government that fosters and protects a unique business environment focused on innovation

fastest growth rate among Leading Technology States (LTS) in federal expenditures for academic and non-profit R&D and has the highest level of funding from the National Institute of Health per dollar of GDP than any other LTS. Perhaps for these reasons, the UK is Massachusetts No.1 European trading partner. ENVIRONMENTAL AND RENEWABLE ENERGY Massachusetts is a leader in renewable energy. State and federal regulatory initiatives, together with the support of academic research, and assistance and funding from venture capitalists and bankers, have helped to place Massachusetts’s energy and environmental policy on the global map. Massachusetts is also leading the way in developing new technologies in these fields, including wind and biomass energy. MANUFACTURING AND OTHER SECTORS

• Proximity to airports throughout the region. Massachusetts is just a one-hour flight from 40% of the US market and 67% of the Canadian market. Direct flights between the UK and Boston’s Logan Airport make business travel enjoyable and timely

Massachusetts is a key centre for mass-produced goods such as paper products, machinery, machine tools, chemicals, metals, composite materials, textiles and footwear. It also maintains a strong presence in financial services and insurance, marine science & technology and defence technology.

• Airport capacity has expanded with over 50 non-stop, direct international flights and close to 80 domestic. Boston’s Logan Airport easily meets the needs of the regular business traveller

COMPETITIVE INCENTIVES TO HELP YOUR BUSINESS

• The state boasts a transportation network of over 34,000 miles of roads and highways with nearly half of the population of the US located within a 12-hour drive • Massachusetts has over 1,200 miles of rail lines, served by 9 rail centres. Direct rail-to-port access makes intermodal transportation a major feature of the transportation network • Six deep-water seaports (Boston, Fall River, Gloucester, New Bedford, Salem and Plymouth) located one day closer to Europe than other major US ports • Massachusetts is renowned for its world-class health care and medical research facilities. The industry attracts scientists, doctors and patients from around the world A LEADER IN INNOVATION Massachusetts fosters its unique business environment focused on innovation, with a Gross State Product growth rate of 4.7% against the US growth rate of 2.6%. Furthermore, its economy has recovered from the economic downturn faster than any other state with more jobs added every month. Massachusetts is a leader in sectors such as clean energy, biotechnology, telecommunications, photonics, medical devices, advanced materials, pharmaceuticals, information technology and nanotechnology. It has the highest level and

Massachusetts offers many tax incentives, financing solutions, competitive grants, loans and plentiful guidance to companies and businesses seeking to invest, expand or relocate in the state. These include broad-based and sector specific grants, awards and incentives offered in collaboration with agencies such as the Massachusetts Office of Business Development; the Massachusetts Life Sciences Center; the Massachusetts Clean Energy Center and the Massachusetts Technology Collaborative. Massachusetts leads the United States in venture capital investment per capita. Angel investment nearly doubled between 2009 and 2011, from an estimated $27 to $51 million to $50 to $100 million. QUALITY OF LIFE Massachusetts is a great place to visit, live, work and raise a family. Residents and visitors alike can enjoy stunning scenery, beaches, museums and historical landmarks, great shopping and world-class restaurants. Come experience the history, culture and innovation of Massachusetts, which has shaped America for nearly 400 years. For more information, contact: Massachusetts Office of International Trade & Investment 10 Park Plaza, Suite 4510 Boston, MA 02216 Tel: +1 617-973-8650 Website: www.mass.gov/hed/moiti

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New Hampshire

New Hampshire is one of the fastest growing states in New England, offering a low tax burden (the 7th lowest in the US), available and skilled labour and a high quality of life. The state offers many incentives to make it an ideal location for doing business and enjoying a balanced lifestyle. INDUSTRY New Hampshire supports a wide array of growing industries, from aerospace and software development to the rapidly emerging biotech sector. A broad range of manufacturing and service industries are based in the state, producing everything from computer software, precision tool machinery, composite aircraft parts and food production, to specialty products such as firearms, footwear and Shaker-style furniture. New Hampshire is successful in nurturing the growth of a range of high-tech industries and it is home to many innovative firms, such as BAE Systems, an aerospace/defence company, headquartered in London, employing approximately 4,000 employees in New Hampshire. LABOUR Companies thrive here through a low tax burden, skilled labour and easy access to Boston Logan International Airport and Manchester/Boston Regional Airport. Since New Hampshire is only 45 minutes from Boston Logan, many UK companies find that they can be close to Boston, but locate in a lower cost state.

‘Many UK companies find that they can be close to Boston, but locate in a lower cost state.’ LIFESTYLE Many young, active and talented people find that New Hampshire has communities that offer outdoor recreation from golf to mountain climbing; a thriving music scene; active nightlife; and bustling streets with outdoor cafes and small retail shops that stay open late at night. For example, it is not unusual to find a jazz band or rock group playing in an open courtyard cafe on a warm summer weekend in Portsmouth, or an ice hockey game taking place at the Verizon Wireless Arena in Manchester. Creative talent in New Hampshire is not just found in the arts and culture, but also encompasses commerce, science, law and the trades. Many of the people moving to New Hampshire have at least a bachelor’s degree or higher, whether they are making furniture or designing software. INCENTIVES In addition to low taxes, New Hampshire offers ERZ (Economic Revitalisation Zone) tax credits, R&D tax credits, job-training grants, on-the-job training grants, assistance to job recruitment, export assistance, financing for real estate and equipment purchases and help in obtaining US federal contracts. New Hampshire also has a strong community college and university system answering the needs of the business sector. Services include customised courses, internships and training programmes. For more information, contact:

C & M Trading LLC from the UK, opened its first US office in New Hampshire in October 2015. Michael Bergeron, Business Development Manager for the State of New Hampshire, Division of Economic Development and Peter Drinkell, President of C & M Trading LLC

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Michael Bergeron Senior Business Development Manager New Hampshire Division of Economic Development 172 Pembroke Road Concord, NH 03302 Tel: +1 603-271-2591 Email: michael.bergeron@dred.state.gov Website: www.nheconomy.com

NORTH ATLANTIC REGION

NEW HAMPSHIRE

NORTH ATLANTIC REGION

NEW JERSEY

New Jersey

New Jersey is committed to helping businesses prosper and grow. As part of that commitment, Gov. Chris Christie and Lt. Gov. Kim Guadagno created the Partnership for Action in 2010 to consolidate the state’s economic development efforts into a single body. The New Jersey Partnership for Action supports the vital role business plays in advancing the state’s economy and creating jobs. Led by Lt. Gov. Guadagno, the PFA is a public-private approach to economic development and the starting point for all initiatives, policies and efforts to grow New Jersey’s economy and create quality, sustainable jobs in our communities. The four elements of the PFA include Choose New Jersey, a privately funded non-profit organisation that markets the state as an ideal location for business investment; the New Jersey Business Action Center (BAC), which applies a proactive, customer-oriented approach to businesses’ interactions with State government and offers an array of international trade resources to encourage foreign investment. This includes a one-stop assistance programme for New Jersey companies interested in expanding their business to international markets; the New Jersey Economic Development Authority (EDA), serving as the state’s financing arm; and the Office of the Secretary of Higher Education, which coordinates, plans and develops policies, and advocates for the state’s higher education system. FINANCING & INCENTIVES The New Jersey Economic Opportunity Act of 2013 was signed into law on 18th September 2013 establishing New Jersey’s two primary incentive programs for businesses. The Grow New Jersey Assistance (Grow NJ) Program (www.njeda. com/GrowNJ) is the state’s main job creation and retention incentive programme which provides grants of corporate business tax credits to business creating or retaining jobs in New Jersey and making a qualified capital investment at a qualified business facility. Base tax credits under the new Grow NJ Program range from $500 to $5,000 per job, per year with bonus credits ranging from $250 to $3,000 per job, per year, based on applicable criteria. The Economic Redevelopment and Growth (ERG) Program (www.njeda.com/ERG) is New Jersey’s key developer incentive programme which assists developers and businesses with addressing revenue gaps in development projects. ERG reimburses up to 75% of the incremental revenues attributed to the project to provide funding of up to 20% of the total project cost, with bonuses of up to 20% available to encourage targeted development goals.

STRATEGIC ADVANTAGES New Jersey adjoins New York City and Philadelphia, and is halfway between Boston and Washington, DC. Over 100 million consumers with a collective purchasing power of $2 trillion are within a 24-hour drive of the state. With the Port of New York and New Jersey as the largest facility of its kind on the eastern seaboard, and the South Jersey Port on the Delaware River, the state serves as a gateway for international trade. To reach markets everywhere quickly and efficiently, New Jersey businesses take advantage of one of the best transportation, warehousing and highway connectivity networks in the United States. Within the state, New Jersey has a workforce that is one of the most well-educated and diverse in the nation. More than 1.7 million residents hold college degrees in a state of 63 colleges, universities and technology schools. New Jersey is committed to continually strengthening this workforce, evidenced by over $225 million awarded to state businesses to train their workers between 2003 and 2010. New Jersey is also home to Princeton University, which ranks No.1 nationally, according to US News & World Report’s 2016 annual Best Colleges rankings. New Jersey is home to headquarters or operations of 14 of the 20 largest biopharmaceutical companies, including Johnson & Johnson, Bristol-Myers Squibb, Merck & Co, Novartis, Novo Nordisk and Bayer; more than 3,100 life science and biopharmaceutical establishments, including companies such as Celgene Corporation and Amicus Therapeutics; and a robust medical technology industry, including BD and Stryker. In Summer 2015, an agreement was signed between BioNJ, on behalf of New Jersey, and One Nucleus, on behalf of the UK, to strengthen our relationship within the biotechnology business community. The agreement was signed to create a framework by which both sets of member organisations will be kept aware of developments, opportunities and sector insights from both regions. In addition to New Jersey’s strategic location and talented workforce, the state offers exceptional variety for all who live and work here. New Jersey is not only one of the top-ranked states on a number of educational measures, but is also home to a world-class healthcare system. In addition, the state is proud of an extraordinary range of cultural institutions, 130 miles of beach, Atlantic City’s casinos, great shopping and an extraordinary park and forest system also help consistently push New Jersey to the top of quality of life rankings. For more information, contact Choose New Jersey, Inc. Tel: +1 609-297-2200 Email: EconDev@choosenj.com Website: www.choosenj.com

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Pennsylvania

Pennsylvania wants to help your business grow. Pennsylvania is committed to breaking down barriers for businesses seeking to locate in the state. Led by the Pennsylvania Office of International Business Development (OIBD), the commonwealth has become a leader in crossborder projects and is one of the nation’s fastest growing exporters, thanks to its global network of overseas offices which cover more than 55 markets worldwide. These efforts have helped make Pennsylvania home to nearly 6,450 foreign-owned businesses employing more than 275,000 people. More than a quarter of foreign-owned firms in Pennsylvania are from the United Kingdom, ranking it first in both number of businesses and jobs.

• In 2014 alone, $94.5 million was invested by United Kingdom foreign direct investment projects in Pennsylvania • Almost two-fifths of companies have an annual turnover of $1 billion to $4.99 billion JOIN OUR PROMINENT DRUG AND PHARMACEUTICAL CLUSTERS Join companies like Almac, GlaxoSmithKline and Wiko USA and see why Pennsylvania is an optimal location for businesses in the drug and pharmaceutical arenas. • • • •

$1.4 billion in NIH funding – 4th highest in the US 3rd in drugs and pharmaceutical industry strength 3rd in biotechnology growth potential Employs 19,000 at 115+ establishments

TOP PA EXPORTS

QUALITY MANUFACTURING IS OUR HERITAGE

• • • • •

America was built on Pennsylvania manufacturing, and the industry has formed the backbone of the state economy ever since. Today, it continues to evolve and power industry in the state with the advent of additive technologies like 3-D printing.

Chemicals ($6.9 billion) Machinery, except electrical ($4.5 billion) Transportation equipment ($4 billion) Computer & electronic products ($3.8 billion) Primary metal manufactures ($3.4 billion)

WE HAVE WHAT YOUR BUSINESS NEEDS TO GET THE JOB DONE Pennsylvania has the strategic location, market access, low energy costs, and tried-and-tested infrastructure that will spell success for your business. Our workforce is well-educated, has access to globally-ranked universities throughout the commonwealth, and is continuously expanding their job skills and knowledge thanks to an extensive range of customised job training programmes and partnerships – many of which are specifically designed for businesses choosing to locate within the state.

• • • •

8th largest manufacturing industry in the US Ranked in top 5 states for manufacturing jobs 567,000+ employees 14,500+ establishments

LOW-COST ENERGY IS MAKING A DIFFERENCE FOR PA BUSINESSES Pennsylvania is leading America’s energy revolution, and is now a net exporter of energy. • 2nd largest producer of natural gas in the US • Home to largest unconventional natural gas field and second-largest overall natural gas field in the world • Wholesale electricity prices lowered by 40% • Purchased natural gas cost rates lowered by more than 50% A 2012 report by TD Bank showed the entire manufacturing sector could save more than $50 billion per year in the form of these lowered costs. For more information, contact: Richard Kilner Pennsylvania Authorised Investment Representative 133 Coombe Lane London, SW20 0QY Tel: +44 (0) 20 8944 6589 Email: rjkilner@aol.com Website: www.newPA.com/invest Twitter: @investPA LinkedIN: Pennsylvania Department of Community & Economic Development

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NORTH ATLANTIC REGION

PENNSYLVANIA

NORTH ATLANTIC REGION

RHODE ISLAND

Rhode Island

Rhode Island, once the cradle of the industrial revolution in the early 19th century, is today celebrating the re-emergence of a new brand of entrepreneurial energy. Cutting-edge, innovation-driven companies are taking advantage of Rhode Island’s human, financial and infrastructure capital to thrive in such industries as advanced manufacturing, defence, renewable energy, digital media, health care, life sciences, consumer product design, IT and marine trades. Leading international companies, including Greencore, IGT and Toray Plastics, recognise the Rhode Island advantage and have based major operations in the state. LOCATION Rhode Island’s strategic location – approximately 45 minutes from Boston and three hours from New York City – provides companies with direct access to the world’s shipping and transportation routes, research and development centres and key financial markets. The state’s location along a major interstate highway corridor makes for easy access to major metropolitan areas and to airports and shipping terminals that serve international markets. The state’s compact size, accessible peer networks and strategic location in the densely-populated and resource-rich north east, form an ideal environment to explore new business models and collaborative partnerships and take advantage of well-established supply chains. TRANSPORTATION INFRASTRUCTURE Major investments in the state’s infrastructure are enabling companies to manage supply chains with increased efficiency and deliver their products to market with greater ease. Home to over 175 great companies, the Quonset Industrial Park is one of the nation’s premier commercial/industrial zones with a major port, airport, rail service and public transportation network. The Port of Davisville at Quonset is one of the closest ports to Europe on the US east coast. In addition to major recent highway and bridge improvements, Providence, Rhode Island’s capital city, has one of only two deep-water ports in New England and a newly expanded international airport with a commuter rail link within minutes of the city centre, several major hotels and a modern convention centre. BUSINESS-READY INDUSTRY HUBS In addition to the Quonset Industrial Park, Rhode Island is also expanding strategic business hubs around its key growth industries. The I-195 Redevelopment District, for example, is home to dozens of life sciences, health care, advanced manufacturing and digital media companies

and research institutions that have transformed the district into a vibrant, mixed-use environment. Aquidneck Island boasts world-class U.S. Navy research laboratories and defence education/training commands with a thriving cluster of leading defence contractors and subcontractors. The Warwick Station Development District is where planes, trains and ground transport come together to form an intermodal gateway to Rhode Island and New England. This is an ideal place to create a mixed-use, transit-oriented development (a residential/ commercial area designed to maximise access to public transport), and growth centre situated along the hightraffic north east. HUMAN CAPITAL From welders assembling nuclear submarines, software engineers developing inventory tracking solutions, to artists designing best-selling toys, Rhode Island has a diverse and well-trained workforce ready to meet the market demands of a 21st century economy. With eleven world-class colleges and universities, including Brown University, Rhode Island School of Design and the University of Rhode Island, the state offers an unparalleled talent pool. ACCESS TO GROWTH CAPITAL AND CREDIT Rhode Island has a well-developed capital continuum for businesses in all stages of growth and across all industries. Through a broad portfolio of direct loan and financing programmes, Rhode Island makes available tens of millions of dollars annually for projects that stimulate job creation and business expansion. PRO-BUSINESS CLIMATE Rhode Island government, industry and labour leaders have collaborated to enact historic regulatory and tax reform that is making it easier to do business by eliminating government “red tape” and removing the barriers that stifle the establishment and growth of companies. Rhode Island has an array of tools to help companies expand, locate and innovate in the Ocean State. These tools include tax incentives for construction and job growth, workforce training designed for today’s workplace, grants for research and development, and more. The Rhode Island Commerce Corporation’s staff works one-on-one with businesses to identify the mix of programmes that will optimise their opportunities. Contact us today to get started. For more information, contact: Rhode Island Commerce Corporation 315 Iron Horse Way, Providence, RI 02908 Tel: +1 401-278-9100 Email: business.development@commerceri.com Website: www.commerceri.com

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Vermont

From major corporate headquarters to small companies with a global reach, Vermont’s economy is diverse, full of innovation and propelled by a world-class workforce. EDUCATION/WORKFORCE Vermont is home to some 25 institutions of higher education and, while it ranks 49th in population, it remains one of the best educated in the nation. In fact, Vermont ranks 7th in the nation for percentage of residents with a Bachelor’s Degree and 6th for residents with an advanced degree. This highly-educated citizenry translates into a very strong workforce. Some particularly well-known companies rely on this talent, including IBM, Keurig Green Mountain and United Technologies – each of which has a large presence in Vermont. TECHNOLOGY AND INNOVATION In Vermont, technology is not only important for residents and businesses that need to connect, but also is a critical part of our economic base. Over 99% of Vermont locations have access to high-speed broadband and the remaining few will be connected very soon. This is an impressive feat for a state with varied geography and also essential for Vermonters that work in our metropolitan and rural areas. Vermont is also a leader when it comes to high-tech employment. With roughly 63 out of every 1000 private sector workers employed in the computer and electronics industry, Vermont ranks 15th in the nation in percentage of its workforce being engaged in high-tech businesses. Vermont is home to a vibrant environmental technology sector, including thriving renewable energy firms like All Earth Renewables and wind turbine maker Northern Power Systems. Vermont’s largest electric utility, Green Mountain Power, is known internationally for its innovative approach to facilitating solar and wind development and is leading the effort to make one of our cities, Rutland, VT, the solar capital of the north eastern US. Watershed planning, hazardous site investigation/remediation, waste management and the environmental engineering sectors are also growing. Biotechnology is another growth sector, anchored by the University of Vermont Medical School and biotech companies such as Haematologic Technologies Inc., Mylan Technologies and Biotek. FINANCIAL SERVICES Vermont is the undisputed onshore leader in the captive insurance industry. The state was an early innovator in

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this field and began licensing captive insurance companies in 1981. Vermont is the largest captive insurance domicile in the US and the third largest in the world in terms of numbers of active captives, but with $25.5 billion in gross written premium in 2014, Vermont writes more premium volume than any other domicile in the world. The state has licensed over 1000 captive insurance companies, and 48 of the companies that make up the Fortune 100 and 18 of the companies that make up the Dow 30 have Vermont captives. ECONOMIC DEVELOPMENT ASSISTANCE Vermont’s small size means that you can easily access all levels of government to help start, expand, or grow your business in Vermont. It is not unusual to have high level cabinet officials as well as the Governor working directly with businesses. Vermont is in a unique position as a federally designated regional centre for the EB-5 immigrant investor programme. Through Vermont’s EB-5 programme, the state has received over $600 million in foreign investment, making it one of the most success regional centres in the country. This programme sets aside permanent resident visas (green cards) for immigrants who make qualified investments into a new commercial enterprise. The investment must be in a business sector that has been approved, and must create at least 10 full-time direct and indirect jobs. Normally, the investment must be a minimum of $1 million, but in most of the State of Vermont, the required level is half that amount. The Vermont Training Program promotes the creation and retention of jobs, particularly those in manufacturing, by funding customised employee training for new and existing businesses. The programme also supports ISO, LEAN manufacturing and innovation programmes. Additional financial assistance is available through state funded financing programmes and cash incentives for new job creation. For more information, contact: Vermont Department of Economic Development National Life Building One National Life Drive Montpelier VT 05620, US Tel: +1 802 828 3211 Website: ThinkVermont.com

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VERMONT

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VIRGINIA

Virginia

More than 400 years ago, Virginia was founded as a business venture. Today, Virginia has preserved that legacy and expanded the Commonwealth’s reputation as a leading state for business. Companies continue to choose Virginia due to its pro-business environment that is underpinned by exceptional transportation and utility infrastructures, a strong education system, growing workforce, a research-based higher education network, and strategic location. These elements provide a solid foundation for growth and make the Commonwealth a great place for enterprise. With a strategic location on the US east coast, adjacent to Washington, DC, with easy access to population centres along the coast, Virginia serves as an ideal location to serve your US customers. While independent third parties, such as Forbes and CNBC, have taken note of the benefits of conducting business in Virginia, the testaments of the corporations who call Virginia home demonstrate the Commonwealth’s business leadership position. More than 700 internationally owned companies operate in Virginia. UK-affiliated companies such as BAE Systems North America, Rolls-Royce, Ferguson Enterprises (Wolseley plc) and Serco take advantage of Virginia’s business environment and resources required in order to succeed in today’s competitive environment. Site location searches are made easy through our two European offices in the UK and Germany. STABILITY Virginia boasts competitive, stable operating costs, and a low, 6% corporate income tax – one of the lowest in the nation – that has not increased since 1972. The Commonwealth also offers a variety of performancebased business incentives, including tax credits, exemptions and grants. ACCESS The benefits of Virginia’s east coast location are enhanced by our transportation infrastructure – an extensive system of six major interstate highways, and nearly 3,400 miles of railway, together with airports and seaports connecting Virginia business with the global economy. 41% of the US population lives within one day’s drive and 55% lives within 750 miles. Virginia is home to two major international gateways that ease companies’ ability to move people and product around the world quickly and cost-effectively – the globally-recognised Port of Virginia, one of the deepest on the US East Coast offering 50-foot channels with Congressional authorisation to dredge to 55 feet, and Washington Dulles International Airport, a critical gateway for UK firms

EDUCATION Virginia is among the most educated states in the country, with more than 575,000 students enrolled in over 100 instate institutions of higher education. Virginia’s education system also hosts 23 community colleges with transferrable programmes across the state that partner with companies to offer customised workforce training programmes. As a result, Virginia’s higher education system is the 11th largest in the nation (Digest of Education Statistics, 2014). A tradition of lifelong education means that Virginia’s workforce is consistently prepared for changing technologies. Virginia therefore delivers a pipeline of skilled applicants for companies today and for industries of the future. WORKFORCE Virginians are the advantage for companies. Virginia is a rightto-work state, and our workforce is readily recruitable, trained, highly productive and comes with the benefits of strong work ethic and moderate cost. With a population of 8.3 million and a workforce of 4.3 million, Virginia successfully supports the state’s substantial industry base. DIVERSITY The prestige and diversity of companies that join or continue to grow in Virginia’s corporate fold demonstrates our ability to attract leading companies across different sectors. Advanced manufacturing remains a solid component of the Virginia economy, driving technology, productivity and innovation across all its industry sectors. The energy, biomass, automotive, food and beverage and aerospace industries represent robust business clusters in which the Commonwealth possesses unique advantages. With the highest concentration of technology workers in the country, Virginia has become a world-class centre for emerging internet technology, cyber security, software development, fibre optics and advanced communications companies. Come to Virginia and see for yourself. Virginia continues to pioneer innovation, crafting contemporary programmes that bolster economic development performance for the 21st century. For more information, contact: Andrew Harfoot Director, State of Virginia United Kingdom & Ireland Tel: +44 (0)1732 375411 Email: AHarfoot@yesvirginia.org.uk Website: www.YesVirginia.org

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West Virginia

“We were thoroughly impressed with the outreach of the government and all of the municipal organisations. Imagine doing business in a state where all of a sudden you get a call from the governor. That’s a ‘Wow!’ It sends a signal about how truly aggressive and committed the people we will be doing business with are”. Peter Longo, president, Macy’s Logistics and Operations, Martinsburg, West Virginia. WEST VIRGINIA’S WELCOMING BUSINESS CLIMATE West Virginia attracts businesses from all around the world. Our strategic location and productive workforce, combined with low business operating costs, make West Virginia a profitable location to do business. In the last decade, more than $24 billion worth of new business investments have been made in the state’s economy. Global companies and major brands such as Amazon.com, Alcon Research, Armstrong World Industries, Bayer, Dow, DuPont, Gestamp, Hino Motors Manufacturing USA, Lockheed Martin, Macy’s, Pratt & Whitney, Procter & Gamble and Toyota have discovered the advantages and benefits of locating to West Virginia.

The emergence of Marcellus, Utica and Rogersville Shale has opened up a vast supply of domestic natural gas liquids for the chemical and polymer industry. Access to abundant, low-cost feedstock has created a significant competitive advantage for West Virginia manufacturers. Historically a chemical manufacturing hub, the state is developing a new, thriving cluster of shale gas-fed manufacturers and downstream derivative plants. West Virginia’s approach to responsible government has produced a positive business climate and the state is clearing the way for business growth through tax cuts, workers’ compensation reform and investment in university research together with other strategic economic development initiatives. We are well positioned as the ideal location for new and expanding British companies. WHY WEST VIRGINIA? West Virginia provides access to: • A skilled and flexible workforce that has earned a reputation for dedication, loyalty and low absenteeism • One of the lowest manufacturing industry employee turnover rates in the nation • Low business operating costs and low utility rates

Historically, West Virginia has thrived on traditional energy and manufacturing industries such as coal, chemicals and polymers, aerospace, automotive and wood products. All remain valued contributors to the state’s economy.

• A strategic location with overnight delivery to more than half the US population, with an extensive network of interstate highways, navigable rivers and rail systems

Today the West Virginia economy is one that also includes innovation-driven, technology-based businesses, piloted by a highly skilled West Virginia workforce. A growing number of companies leading the advance in biometrics, biotechnology, information technology and renewable energy now operate in the state.

• A higher education system that includes 32 colleges, universities and vocational and community technical colleges

• Low cost of living for employees and high quality of life including unparalleled outdoor recreational activities

WE ARE HERE TO HELP The West Virginia Department of Commerce’s Development Office is here to help your company find its edge in West Virginia. Our highest priority is meeting your company’s needs by providing aggressive development assistance. The Development Office team provides research and technical support including competitiveness studies, analysis and a variety of data to reduce start-up and operating costs. For more information, contact:

Global companies like Macy’s and Bloomingdale’s are right at home in West Virginia where they find skilled employees, easy access to transportation and a welcoming business climate.

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West Virginia Development Office Charleston, WV Tel: +1 304-558-2234 Website: www.WVDO.org

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WEST VIRGINIA

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Expand in Florida Your Gateway to Latin America and the Global Market. +44 207-822-0714 info@enterpriseflorida.com | enterpriseflorida.com/UK

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Detroit

• Unparalleled Infrastructure and Accessibility • Research, Development and Innovation • Stable, Well-Trained Workforce • Low Cost of Doing Business

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ALABAMA – A MESSAGE FROM THE GOVERNOR

OFFICE OF THE GOVERNOR

STATE CAPITOL MONTGOMERY, ALABAMA 36130 (334) 242-7100 FAX: (334) 242-3282

ROBERT BENTLEY GOVERNOR

STATE OF ALABAMA

I invite you to explore Alabama through this feature spotlighting our state’s outstanding business climate, exceptional workforce, and targeted training. As Governor, I have met with international business leaders over the past five years and I understand their location, infrastructure , and workforce needs. I can say with absolute certainty that you will find no more hospitable location than Alabama. I hope this feature will pique your interest in Alabama and you will allow our economic development team to show you how your company can proudly join GKN Aerospace, Austal, Airbus, Mercedes-Benz, Hyundai, and other international companies whose products are Made in Alabama. Sincerely,

Robert Bentley Governor

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ALABAMA

Alabama

In 2014, two-way trade between the UK and Alabama approached $800 million, a healthy figure that has been growing over the years. The value of Alabama exports to the UK climbed 47% in the decade stretching between 2004 and 2014, making it a top five export market for the state. UK firms ship machinery, computers and electronic products, transportation equipment, chemicals, plastic products, and other items to Alabama. Meanwhile, UK companies continue to view Alabama as a favoured location for capital investment, with around 30 British firms today operating facilities in the state. These firms include BAE Systems, BP America, GKN Aerospace and Tate & Lyle. Let us examine the reasons why Alabama is attracting investment from the UK and around the world, and identify the industrial sectors in the state that hold promise for UK companies looking to build a presence in North America or establish one there.

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On a sunny day in June 2015, a cargo ship docked in an Alabama seaport, loaded with the major structural components for the maiden Airbus passenger jet to be assembled at the company’s first US manufacturing centre. On board the BBC Fuji were fuselage sections produced in Germany, Spain and France, as well as other components with parts sourced from around the world. Also on the cargo vessel were the wing assemblies – produced in the United Kingdom – that will give the Airbus A321 flight. The wings for the Alabama-made aircraft serve as a reminder of the strengthening economic ties between the UK and a south eastern US state with a growing international connection.

Gov. Robert Bentley, second from right, poses with GE Aviation officials as the company announced a 3-D printing initiative in Alabama at the 2014 Farnborough International Airshow.

ADVANTAGES/WORKFORCE Many international firms are discovering that Alabama offers a low-cost, business-friendly environment with an extensive and convenient transportation network that includes a deepwater port, cargo airports, Class 1 railroads and interstate motorways. Significantly, Alabama recently updated its incentives programme to offer qualified businesses a tax credit specifically tied to job creation which, combined with other changes, increases the state’s competitiveness in the economic development realm. In addition, the state has moved decisively to improve its already robust workforce training programmes by consolidating many of its primary workforce development functions within the Alabama Department of Commerce. Governor Robert Bentley has made improving educational outcomes, together with preparing the state’s residents for the demands of the modern, technology-focused workplace, one of the top priorities of his administration. As part of the initiative, Alabama research universities are more actively engaging with businesses in areas of mutual benefit. The strategy is laying a foundation for future growth. ACCELERATING AUTOMOTIVE Alabama’s chief sources of foreign direct investment in the automotive manufacturing sector are Germany, Japan, and South Korea, but many auto-related companies from the around the world are finding their way to the state.

Airbus A321 under assembly at company’s new $600 million Alabama manufacturing facility.

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Mercedes-Benz came to Alabama in the 1990s and now plans to inject an additional $1.3 billion investment into its manufacturing centre in the state. “With this expansion and modernisation of our plant, we will create 300 new jobs and continue the success story of Mercedes-Benz in Tuscaloosa”,

ALABAMA

UK exports to Alabama TOP EXPORT CATEGORIES IN 2014 Machinery:

$45 million

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Computers, electronic products: $32 million

Mercedes-Benz, which produces the C-Class sedan and luxury SUVs at its Alabama plant, plans an $1.3 billion expansion at the facility.

Jason Hoff, president of the car manufacturer’s Alabama operation, said at the announcement of the additional investment. “Our entire team is proud to reinforce the State of Alabama’s growing reputation as a leader in high-quality automotive manufacturing”. The project will push Mercedes’s total investment in Alabama to an impressive $5.8 billion as its production line-up has expanded to four distinct luxury vehicles. Alabama is also home to assembly plants operated by Honda and Hyundai, as well as one of Toyota’s largest engine plants, along with the vast supplier networkers that serve them. Thanks to first-rate training resources and a supportive government, Alabama’s auto industry will produce more than one million vehicles and two million engines in 2015 – records that will likely be eclipsed in 2016 as growth continues. AEROSPACE OPPORTUNITIES With Airbus launching aircraft production at its new $600 million manufacturing facility at the Mobile Aeroplex, other European aerospace companies have announced plans to locate operations in Alabama. These include Ireland’s MAAS Aviation, which will open a $39 million paint shop at the Aeroplex, and France’s Hutchinson Corp., which is opening an aerospace manufacturing centre of excellence nearby. These projects, and others, are confirming predictions that Airbus will act as a catalyst in the formation of an aerospace cluster in the region. UK-based GKN Aerospace, meanwhile, has expanded its state presence with a new, 10,000 square-foot engineering design centre at its aerostructures plant in central Alabama. GKN has operated in Alabama for three decades and today employs around 1,000 people. In north Alabama, where the aerospace industry is focused on space exploration, rocket production and defence work, one of Europe’s leading space companies – RUAG – recently announced plans to set up a production line at the factory where the US workhorse Atlas V and Delta IV rockets are assembled. NASA’s Marshall Space Flight Center in Huntsville anchors the region’s aerospace sector. GROWING LIFE SCIENCES Another sector that has seen growth in Alabama is life sciences. In late 2014, Oxford Pharmaceuticals, a new venture established in England, announced plans to open a $29 million generic drug production facility in Birmingham, a city with significant activities in health care and research. The plant, which eventually will employ 200 people, gives Alabama’s largest city a foothold in a new segment – pharmaceutical manufacturing.

Transportation equipment:

$23 million

Fabricated metal products:

$20 million

Plastics, rubber products:

$18 million

Source: Alabama Department of Commerce

“Oxford Pharmaceuticals has made the decision to locate a new state-of-the-art pharmaceutical facility in Birmingham over other competing markets because of many positive factors, including a good employment base, a great history of health care-related businesses in Alabama, and a tremendous recruiting effort by the state, county, and city leaders”, Oxford Chairman John Hoffmire said at an announcement ceremony. Across Alabama, there are 550 firms in biotechnology and life sciences, with major research clusters in Birmingham and Huntsville. The Hudson-Alpha Institute for Biotechnology in Huntsville has earned a reputation as a top genomics and genetics research centre. The University of Alabama at Birmingham (UAB) is a national leader in cancer research and often teams with Southern Research to advance knowledge about specific diseases and investigate possible new treatments. BUILDING GLOBAL CONNECTIONS Alabama’s leading officials view capitalising on global opportunities as a key priority, and the figures on foreign direct investment (FDI) illustrate that point. In the past 15 years alone, Alabama has attracted FDI topping $24.5 billion, with nearly $1 billion of that investment coming from UK-based companies. Alabama officials are actively seeking to build international partnerships. The Alabama Department of Commerce and its allies sponsor international trade missions to explore possible business collaborations and identify new export markets for companies based in the state. Recent European missions have visited Scandinavia, and Belgium and The Netherlands. Top Alabama officials also travel to European events like the Farnborough International Airshow to connect with business leaders from the UK and around the world. For more information, contact: Greg Canfield, Secretary Alabama Department of Commerce 401 Adams Avenue Montgomery, AL 36130–4106 Tel: +1 334-242-0400 Email: idinfo@madeinalabama.com Website: madeinalabama.com Facebook: www.facebook.com/ AlabamaDepartmentofCommerce Twitter: Made in Alabama (@MadeinAL)

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FLORIDA – A MESSAGE FROM THE GOVERNOR

We’ve cut taxes more than 50 times, including over $400 million this year. We’ve eliminated the sales tax on manufacturing equipment so companies can expand more easily. We’ve cut more than 3,200 burdensome regulations and streamlined the permitting process. By doing these things, we’ve put Florida job creators on a path towards success. The results of our pro-business policies have been clear. Since December 2010, Florida businesses have added more than 941,000 private-sector jobs, our unemployment rate has dropped to 5.1%, and last year we surpassed New York to become the third largest state. Florida’s housing prices are up, our crime rate is at a 44-year low, we had a record 98 million tourists visit our state in 2014, and businesses from across the globe are relocating to the Sunshine State. We know that an ideal tax climate is not the only thing needed to make a company successful. Our focus on cutting taxes and expanding economic opportunity has also allowed us to make record investments in education while holding the line on tuition to make college more affordable. We’ve had two consecutive years of record K-12 education funding, nearly all of our colleges offer $10,000 degrees, and we are emphasising degrees that focus on the needs of job creators across our state. In 2014, more than 60,000 students received a degree from our universities, and more than 18,000 of those were in science, technology, engineering and mathematics (STEM) related fields. More than 100,000 students graduated from our colleges during that time. We are preparing our students in the classroom today for the jobs of tomorrow to ensure we have the most advanced workforce that meets the demands of the global job market. Florida is ideally positioned to be the global hub for business. We have 15 seaports, which we have invested more than $850 million in over the last four years. We have 19 airports, which generate more than 3,400 arrivals and departures each day. Miami International Airport ranks second in the country for most international arrivals and departures. Florida’s strong transportation system gives companies a competitive advantage on a global scale. We’ve worked hard to create a pro-business climate in Florida because thriving industries create jobs and create more opportunities for Florida families. By cutting taxes, streamlining regulation, providing historic levels of education funding and holding the line on tuition, we are creating more opportunities for families to live their dreams in the Sunshine State. These strategies are creating the ideal business climate in Florida, and we will keep working to make Florida the best state in the nation for business.

Gov. Rick Scott

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The number one priority of my administration has been to ensure Floridians have new opportunities to find a great job, provide for their loved ones and achieve their dreams in our great state. Every day we are working to make Florida the most business friendly state in the nation by cutting taxes, streamlining regulations, and investing in education.

FLORIDA

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Florida

Global Connectivity Starts in Florida – With its unique geographic position and standing as the third most populous state in the United States, Florida is a global economic hub. No other site in the Western Hemisphere can match the state’s top-ranked infrastructure, multilingual workforce, strategic location and concentration of corporate and financial resources. The state’s many benefits provide a compelling case for international companies to establish a location, collaborate or trade with Florida. ENTERPRISE FLORIDA ASSISTANCE International trade and development is big business in Florida. Enterprise Florida, Inc. (EFI), the principal economic development organisation for Florida, assists companies with their international growth. EFI maintains an extensive schedule of overseas trade missions and exhibitions worldwide. In fiscal year 201415, EFI hosted 56 major domestic and overseas trade and development events with 961 participating companies that reported more than $906 million in total projected export sales from these missions. Currently, EFI has 15 international offices, including one in the United Kingdom, which counsel small businesses looking to export to foreign markets. The offices also identify foreign director investment opportunities for international companies looking to invest or do business in Florida.

A LAUNCH PAD FOR GLOBAL TRADE OPERATIONS In terms of trade flows, cargo volumes, export value and employment, Florida ranks as one of the nation’s top global trade centres. In 2014, Florida companies exported more than $58 billion worth of goods to more than 200 countries around the world – making it the seventh-largest exporting state in the country. Home to the second-largest foreign trade zone network in the country, 20% of all US exporters choose Florida as the site for their global operations. Florida companies act as key suppliers to buyers in dozens of counties worldwide, shipping goods made locally in Florida, elsewhere in the US, or in another country. Florida is also an excellent gateway for non-US companies selling their goods to the US market. Trade and foreign investment play a fundamental role in Florida’s economy by fuelling growth, supporting jobs and diversifying the economic infrastructure. EASY ACCESS TO LATIN AMERICAN AND CARIBBEAN MARKETS The allure of direct access to the Latin American and the Caribbean markets has enticed more than 1,100 multicultural companies to open regional headquarters in Florida, with nearly one-third dedicated to serving the Latin American region alone. Miami is the leading centre for international banking in the US. Both foreign and domestic banks that are active in international trade and finance have offices in Florida, including many of the world’s largest banks. Geographical proximity, flight connectivity and a large Spanishspeaking population make the state the location of choice for MacBethPhoto.com

Throughout Florida, EFI has seven trade offices that provide services including evaluation of a company’s market readiness, selecting target markets for its products or services, market research, information on channels of distribution in target markets, educational “how to” seminars, export promotion through trade missions, shows and matchmaking programs and introductions to its international offices.

foreign trade zones. And, with numerous foreign and domestic banks, the international banking community in Florida provides tremendous value to companies doing international business, particularly with Latin America.

FOREIGN DIRECT INVESTMENT Attracted by its large and booming economy, stable business environment and international workforce, new business investments from around the world pour into Florida every year, making it one of the top US destinations for foreign direct investment. Florida’s extensive international commerce infrastructure includes the availability of trade financing, international legal and insurance services, freight forwarding and logistics, distribution and warehousing and related services. High valueadded manufacturing for re-export is done inside Florida’s

Lake Nona Medical City

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FLORIDA

companies wanting access to Latin America and surrounding areas. STRONG SERVICES EXPORTS Florida has a natural advantage in the exporting of knowledgeintensive services, with its strong global ties, linguistically diverse population and a more service-intensive economy. Florida is also a major global exporter of high value-added services, including accounting, communications, consulting, engineering, financial, legal, medical, transportation and many other services. Land, labour and capital are significantly more affordable in Florida. For businesses in certain targeted industries or specialised locations, the state offers additional financial incentives for job creation, workforce training, road infrastructure and other programmes. Global companies appreciate that their business dollars go further in Florida. Businesses and employees can keep more of their income by operating and living in Florida’s low-tax environment. ACCESS A DIVERSE WORKFORCE At 9.7 million strong, companies doing business in Florida have access to a large and diverse workforce – including many who are foreign language speakers. Consistently ranked among the best in the US, Florida’s workers excel in a variety of industries ranging from aviation & aerospace to life sciences and information technology. The state’s 12 public universities, six major medical schools and numerous private colleges and universities also work closely with the business community to build programmes that reflect industry needs. No Floridian lives more than 50 miles from a further education institution, providing businesses with a pipeline of skilled employees. INVESTING IN AN EVOLVING INFRASTRUCTURE Florida’s extensive multi-modal transportation system supports not only the state’s 20 million residents, but also nearly 100 million tourists annually. With 15 deepwater seaports, 19 commercial airports, nearly 3,000 miles of freight rail track, 12,000 miles of highway and two spaceports, Florida can move people, products and ideas anywhere fast. The state has made improvements to major trade and transportation systems a top priority. Over the last four years, Florida has invested more than $850 million in its ports, making it easier for companies to take advantage of international trade. Florida ports are strategically positioned to benefit from the Panama Canal expansion. In September 2015 PortMiami announced the completion of its Deep Dredge project which deepened the port’s main harbour channel from 42 feet to a depth of 52 feet. The port is now a global gateway, as the only major logistics hub south of Virginia capable of handling postPanamax vessels. Capitalising on the state’s peninsular location, Florida’s transportation system serves as a global nexus to the highly sought-after Latin American and international markets. FIND SUCCESS WITH A BUSINESS-FRIENDLY CLIMATE From Fortune 500 corporations to small family businesses, the state’s pro-business policies facilitate growth. Thanks to

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PortMiami

its low corporate income tax, numerous industry-specific tax exemptions and zero personal income tax, Florida repeatedly ranks among the most business-friendly states in the US. Recently, site selectors from across the US picked Florida as the 5th best state for doing business. EXPEDITED PERMITTING Florida offers companies a seamless start-up with the ability to become operational quickly. The state’s regulatory agencies and local government provide quicker, less costly and more predictable permitting processes for significant economic development projects without reducing environmental standards. Progressive legislation ensures that Florida remains a worldwide leader for new and expanding businesses. Since Governor Rick Scott took office in 2011, average permitting time for the Florida Department of Environmental Protection has fallen from 79 to 33 days, and Office of Financial Regulation review time dropped from 22 to 5 days. PRO-BUSINESS GOVERNMENT Florida’s government and economic development leaders work together to ensure that the state’s business climate remains favourable to companies of all sizes. The state is working on legislative, fiscal and marketplace initiatives such as insurance tort reform, targeted industry financial incentives and many more. The state is also one of only a few right-towork states in the US. AVAILABLE RESOURCES Florida offers growing businesses access to capital from private, state, federal and other sources. The state has implemented capital formation initiatives, such as the Florida Opportunity Fund, and economic gardening programmes that help Florida businesses expand by offering specialised services such as market information, leadership development and business management tools. GROWING GLOBALLY IN FLORIDA Florida has what it takes to make a company successful – an attractive business climate, diverse workforce, a state-of-theart infrastructure and global access. With the help of Enterprise Florida, your company can take advantage of all that Florida has to offer. Learn more about Florida’s business advantages, visit www.enterpriseflorida.com or call our British representative at +44 (0) 20 7822 0718

SOUTH EAST REGION

COMPETITIVE COST OF DOING BUSINESS

SOUTH CAROLINA – A MESSAGE FROM THE GOVERNOR

SOUTH EAST REGION

Dear Friends, As the Chief Executive Officer of a state that is proud to build things – and build them well – I am delighted to share some of the qualities that attract new industries to South Carolina and help our existing companies grow and thrive. For the last five years, we have been focused on job creation and maximising opportunities for the growth of business and industry in our state. We have built a solid record for successful business development and have emerged as a leader in manufacturing and foreign direct investment. South Carolina is competing on a global scale with our skilled workforce, pro-business environment, and world-class infrastructure that make our state ideal for international firms. As evidence of our strong international presence, we were ranked first per capita in attracting jobs through foreign investment for the third time in four years. Major announcements from globally-respected companies like Volvo Cars, Boeing, Mercedes-Benz, Michelin, BMW and Colgate-Palmolive helped drive our state to net a record level of capital investment. Products made in South Carolina are reaching markets the world over – with our exports increasing to a record $29.7 billion in goods in 2014. We appreciate the opportunity to further our partnership in trade and investment for the mutual benefit of both the United Kingdom and South Carolina. I invite you to visit our state and experience the South Carolina difference firsthand. I am confident you will quickly realise that South Carolina’s corporate environment and unmatched quality of life make our state just right for your business. God bless. My very best,

Nikki R. Haley Governor

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SOUTH CAROLINA

South Carolina

The past few years have seen record levels of investment, shrinking unemployment and big announcements from worldclass brands. In 2014, South Carolina’s capital investment topped $5 billion for the second year in a row and for the third time in four years. This record investment represented more than 19,000 jobs by new and expanding businesses. And, as a result, South Carolina’s unemployment rate continues to decline. In September 2015, the state’s unemployment rate fell to 5.7%, recording its lowest level since 2008. Meanwhile, South Carolina’s total employment has increased for more than 70 consecutive months. The Palmetto State’s roster of world-class companies also grew in 2015 when Mercedes-Benz Vans announced the $500 million expansion of its South Carolina facility, creating 1,300 new jobs. Volvo Cars also announced its first North American manufacturing facility, representing a $500 million investment and up to 4,000 new jobs. With a fantastic business climate, an extensive transportation network and a talented workforce, it is no surprise that South Carolina is now home to four of the top 10 global tyre manufacturers and is the nation’s top producer and exporter of tyres. Companies from all corners of the globe are discovering that South Carolina is just right for business. SOUTH CAROLINA: STRONG, DEPENDABLE WORKFORCE South Carolina’s recent growth has been the result of refining a team approach and sharing the story that the Palmetto State is a great place to build things for a variety of reasons. The secret ingredient fuelling South Carolina’s success – also the state’s greatest asset and source of pride – is the people. The Palmetto State’s loyal, world-class workforce has earned a reputation for making first-class products. That dedication to quality is one of the main reasons why the world’s most respected brands choose to do business in South Carolina.

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In addition to great people, South Carolina has built one of the top programmes in the nation for workforce training. Known as readySC, this programme provides no-cost, customised training to companies making major investments in South Carolina. Working with the state’s technical colleges, readySC has led screening, hiring and training initiatives for more than a quarter of a million workers, in almost 2,000 companies, since the programme’s inception. SOUTH CAROLINA: GLOBALLY COMPETITIVE South Carolina is ideally located midway between New York and Miami, giving companies the ability to serve a rapidly growing population and consumer base in the south east. The state is also connected to a vast logistics network of rail, roads, airports and the dynamic gateway to trade – the Port of Charleston. Because of these factors, South Carolina has led the nation in recruiting foreign direct investment on a per capita basis, and today is home to more than 1,200 locations of foreign companies operating within its borders. Since January of 2011, South Carolina has recruited more than $13 billion in capital investment from foreign companies, bringing more than 29,500 jobs to the state. In South Carolina, a robust logistics infrastructure, skilled workforce, access to growing markets and business-friendly environment are all key assets that will continue to make the state particularly attractive for foreign investment. SOUTH CAROLINA: A STRONG REPUTATION South Carolina’s diverse economy continues to attract companies from all corners of the globe, and the Palmetto State takes pride in offering businesses the competitive advantages they need to be successful in today’s global market. To see more about doing business in South Carolina, please visit www.sccommerce.com. For more information, contact: André LeBlanc South Carolina Department of Commerce, Europe Brienner Straße 14 80333 Munich Germany Tel: +49 89 2919170 US Tel: +1 803-737-0434 Email: aleblanc@sccommerce.com Website: sccommerce.com/ LinkedIn: www.linkedin.com/company/ south-carolina-department-of-commerce Facebook: www.facebook.com/sccommerce Twitter: twitter.com/SCcommerce

SOUTH EAST REGION

Why the Palmetto State is Just Right for Business. Globally-recognised for picturesque beaches and golf courses, paired with gracious hospitality and a relaxed lifestyle, South Carolina has long been recognised as one of the top travel destinations in the South. In fact, Condé Nast Traveller magazine recently named Charleston, South Carolina the number one small US city tourist destination for the fifth consecutive year. In recent years though, the Palmetto State has been making its footprint on the map for its business recruitment endeavours.

GEORGIA

SOUTH EAST REGION

Georgia

You could move your headquarters or expand your operations anywhere you want. Here is why the State of Georgia, USA is worth a serious look. The nation’s No.1 State for Business and No.1 Most Competitive State. The fastest-growing port in America. The busiest and most efficient airport in the world. A highly skilled and competitive workforce. It is no wonder why companies like JCB, GlaxoSmith Kline, Drax Biomass and InterContinental Hotels Group call Georgia home. With a population of 10.1 million, Georgia’s global presence is both significant and real. More than 3,000 international companies own and maintain facilities and offices in the state. Georgia offers businesses local access to approximately 70 foreign governments through consular offices and/or trade representation located in metro Atlanta, including BritishAmerican Business Council, Georgia. The Georgia Department of Economic Development has 11 strategic markets around the world helping to grow jobs and investment in Georgia. Twenty Fortune 500 headquarters call Georgia home, including the Coca-Cola Company, the Home Depot, UPS, Delta Air Lines, AFLAC, Southern Company, SunTrust Bank, NCR and Newell Rubbermaid. CONNECTIONS Georgia has a seamless network of air, sea and ground transportation. Companies in Georgia can reach more than 75 countries and 150 US cities every day from Atlanta’s HartsfieldJackson International Airport. More than 80% of US markets are within a two-hour fight and two-days or less by road. Georgia has two deep-water ports, Savannah and Brunswick, which serve all major ocean carriers and 100-plus road haulage companies. Savannah has been the busiest and fastest-growing container port in the US for the past 10 years and is a major reason why Georgia now ranks No.2 nationally

‘Georgia has an abundance of high-quality, affordable labour.’ in exports. With 5,000 miles of rail track, Georgia also has the largest rail network in the south eastern United States. KNOWLEDGE Georgia’s Department of Economic Development has inhouse experts in more than a dozen industries who provide an outside perspective on expansion strategies and growth opportunities. They also provide a wealth of data on wages, tax breaks, incentives and business costs. Think of each as an industry concierge serving your company. Georgia’s Centres of Innovation help provide growing companies direct access to university research, commercialisation resources, matching grants and potential investors in six industry clusters. WORKFORCE Georgia has an abundance of high-quality, affordable labour. The state has the second-lowest union membership rate in the US – 4% of employed – and Georgia is a right-to-work state. Georgia Quick Start is widely regarded as one of the nation’s top-ranked workforce development programmes. Quick Start provides customised training free-of-charge to qualified companies, and major corporations from Kia to Caterpillar have reaped its benefits. TAKE A CLOSER LOOK AT GEORGIA. Seeing is believing. So we invite you to see Georgia and all that it can do for your company. For more information and to schedule your closer look today, contact: Nils Gerber Business Development Manager Tel: +49 (0) 170 900 7723 Email: ngerber@georgia.org Website: www.georgia.org

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MISSISSIPPI

Mississippi

In September 2014, Williams-Sonoma, specialty retailer of high-quality products for the home, announced the company was expanding operations at its 2 million square foot distribution centre in Olive Branch in North Mississippi. The project represents the creation of 900 new jobs in addition to the facility’s existing 650 employees. The facility also employs between 2,000 and 3,000 seasonal workers each year during peak periods. In October 2014, Calbee North America announced it would locate snack food manufacturing operations in Senatobia, Miss., a $51.1 million corporate investment that is creating 254 new jobs. Calbee North America is a joint venture of Calbee, Inc., of Tokyo, Japan and R.D. Offutt of Fargo, N.D. The company became one the first Japanese food manufacturers in the US in the 1970s when it began selling its Saya and Shrimp Chips brands. Today, Calbee’s brands include Harvest Snaps, Jagabee, Whole Cuts, Potato Chips and Saya Snow Pea Crisps and Shrimp Chips. In May 2015, Steel Dynamics, Inc. (SDI), announced it was expanding operations at its Columbus, Miss., steel mill, a corporate investment of approximately $100 million that created 40 full-time jobs. For the project, the company added painting and Galvalune® capabilities, allowing SDI to produce additional value-added steel products at the Columbus location, which has a shipping capacity of 11 million tons per year. In addition to Williams-Sonoma, companies with distribution needs continue to discover the benefits of Mississippi’s prime location and robust transportation system. In June, AmerisourceBergen, one of the largest global pharmaceutical sourcing and distribution service companies, announced it was locating a distribution facility in Olive Branch. The project represents a $48 million corporate investment and the creation

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of 129 jobs. AmerisourceBergen helps healthcare providers and pharmaceutical and biotech manufacturers improve patient access to products and enhance patient care. Its services include drug distribution, niche premium logistics, pharmaceutical consulting and more. Mississippi’s automotive industry continues to thrive, as well, further bolstering the state’s position as a leader in the Southern Automotive Corridor. In February 2015, Toyota’s Blue Springs, Miss., automotive manufacturing plant celebrated the 500,000th Toyota Corolla coming off the line. The production milestone was reached faster than any other Toyota plant in the US, a strong testament to the productivity of Mississippi’s workforce and Toyota Mississippi’s 2,000 employees. In September, Nissan’s Canton, Miss., automotive assembly plant celebrated the production of its 3 millionth vehicle, a 2015 Nissan Murano, which was added the plant’s production line-up in 2014. The addition of the Murano positioned Nissan Canton as the global source for Murano production. In October 2015, Yokohama Tire Corporation celebrated the grand opening of the first phase of the company’s new commercial truck tyre manufacturing plant, Yokohama Tire Manufacturing Mississippi, in West Point, Miss. The plant is the company’s first in the US to be built from the ground up. The first phase of the project represents a $300 million corporate investment and 500 new jobs. Potential future expansions are expected to increase the company’s investment and employment levels up to four times in accordance with future growth. When global leaders choose to locate or expand in Mississippi, the reasons most often cited include the state’s highly skilled, quality-trained workforce, its prime geographic location and close proximity to major US markets, and the commitment by state and local leaders to understand and meet the needs of companies. These companies are increasingly discovering the benefits of a Mississippi location and put the state on the global stage when they choose to locate in the state or grow their existing operations. Learn more about doing business in Mississippi For more information, contact Rose Boxx, Director International Trade Office Mississippi Development Authority Tel: +1 601-359-3045 Email: rboxx@mississippi.org Website: www.mississippi.org

SOUTH EAST REGION

Mississippi is a great place for business, and industry leaders from around the globe are taking notice. Some of the largest names in industry already call Mississippi home, including Nissan, Toyota, Yokohama, Northrop Grumman, GE Aviation, Rolls-Royce, Lockheed Martin and many more. The state’s leaders and economic development professionals work in collaboration to provide existing and prospective businesses with a strong, supportive business climate that exceeds expectations and fosters innovation, growth and success.

NORTH CAROLINA

SOUTH EAST REGION

North Carolina

North Carolina means business as it rolls out continual enhancements of its tax and regulatory environment. Consistently recognised as one of the top states to do business in the US, North Carolina offers UK companies an attractive economic platform from which to maximise their access to the US market. As one of the original 13 colonies, North Carolina shares an important cultural legacy with the UK that is still preserved in historical landmarks, heritage groups and town and county names across the state. The UK is second only to Germany in terms of inbound investment into the Tar Heel state. UK groups such as GlaxoSmithKline, GKN Driveline, BAE Systems, Unilever and the Compass Group are well established in North Carolina. The state is particularly successful in attracting companies in the automotive; aerospace and defence; biotechnology and pharmaceuticals; food processing and manufacturing; agriculture; financial services; high tech and advanced manufacturing sectors. In 2015, the state legislature increased the amount of incentive grants available to a qualifying company that commits to investing in a so-called high yield project. A high yield project is an investment that has a value of $500 million or more and creates at least 1,750 new full time employee positions. All companies doing business in North Carolina benefit from a 4% corporate income tax rate in 2016, the lowest rate among states that have an income tax. In addition, there are many other tax benefits which are aimed at medium and large investments, as well as local (county-level) financial incentives. North Carolina is proving attractive to corporate groups based elsewhere in the US and around the world. North Carolina consistently ranks as a top state for business in the most recognised rankings: • No.2 Top US Business Climate Ranking – Site Selection

attractive regional clusters to consider for business, all within excellent proximity to commercial airports, interstate highways, and a dense rail system. North Carolina is also home to two deep-water ports at Wilmington and Morehead City. Typically, the location of a relevant cluster can drive the decision where to place the UK direct investment. North Carolina can boast impressive medical and higher education clusters across the state which provide a meaningful source of research, innovation and opportunities for North Carolina residents. Three Tier 1 research universities are located in the state (Duke University, NC State University and the University of North Carolina at Chapel Hill). Additionally, North Carolina’s nationally recognised 58-campus community college system and related workforce development programmes offer employers a steady stream of skilled workers. Companies can have the opportunity to partner with the local community colleges to organise sector, if not company, specific training. These aspects make the local, low cost training opportunities some of the best in the country. Finally, the US military base presence in North Carolina, one of the largest in the country, ensures a continuous stream of skilled individuals into the local labour force. Whether looking at electricity and natural gas rates, office lease and construction costs, wages, or just overall costof-living measures, North Carolina offers companies a cost-effective environment to do business. The Economic Development Partnership is, in effect, an arm of the NC Commerce Department. It is tasked with engaging US and foreign businesses interested in investing or expanding existing businesses in North Carolina. Interested UK investors should consider the EDP as a first point of contact at the state level for a variety of services financed by the state. The EDP will assist companies with various investor critical issues, such as site selection across the state, establishing connections with key public and private sector stakeholders, and navigating the state level and incentives processes which are subject to the approval of the NC Commerce Department.

• No.2 Best State for Business – Forbes • No.3 Best States for Business – Chief Executive Here are some of the top economic reasons for a UK company to invest in North Carolina and which distinguish it from other state investment propositions. As one of the 10 most populous states, North Carolina enjoys the economic and geographical capacity to attract and retain businesses from multiple sectors. Investors have several

For more information, contact: Richard Minor Head of Business Development Economic Development Partnership of North Carolina Tel: +1 919-447-7777 Email: richard.minor@edpnc.com Website: www.edpnc.com

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TENNESSEE

Tennessee

A skilled workforce, outstanding transportation network and pro-business environment have earned Tennessee a solid reputation as a premier business location. Companies understand the advantages of locating in Tennessee, a state that touches eight bordering states and from which a business can access 76% of America’s major markets by road within a day. Tennessee is also a distribution hub, boasting the world’s second busiest cargo airport in Memphis, home to FedEx. Both Memphis and Nashville offer international air passenger service and are connected to four other commercial services airports. Tennessee provides many options for industrial rail transportation. There are six Class 1 railroads in the state, the three largest being CSX Transportation, Norfolk-Southern Corporation and Canadian National/Illinois Central Railroad. In 2015 ECD restructured its international efforts to shore-up global companies investments in the state and encourage international trade. The department refocused Foreign Direct Investment efforts and will open offices in 2016 throughout the globe, including Brazil, Western Europe, Eastern Europe, Korea and China. These locations are strategic to promote Tennessee to companies interested in opening North American operations. The department has also established a Regional Export Network across the state to better focus its investment in rural economic development and small and medium-sized business growth with increased inbound and outbound trade missions. TARGET CLUSTERS ECD’s recruitment efforts are focused on (but not limited to) six target clusters in which the state has a clear competitive advantage: Automotive; Chemical Products & Plastics; Transportation, Logistics & Distribution Services; Business Services; Health Care and Advanced Manufacturing & Energy Technologies. ECD also partners with other state agencies and divisions, such as the Department of Agriculture; the Tennessee Film, Entertainment and Music Commission and the Department of Tourist Development to support additional means of economic development and job creation.

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REGIONAL JOB BASE CAMPS ECD has established jobs base camps in nine regions across the state that work with local partners in developing regional economic development plans. ECD Regional Directors serve as a single point of contact for all jobs and business-related issues in the region. The nine economic development regions are made up by the Memphis Area; north west Tennessee; south west Tennessee; northern middle Tennessee; southern middle Tennessee; Upper Cumberland; south east Tennessee; north east Tennessee and east Tennessee. INNOVATION INVESTMENTS ECD manages a $50 million initiative designed to support innovation across the state named INCITE for its focus on innovation, commercialisation, investment, technology and entrepreneurship. The programme’s goal is to raise Tennessee’s profile in innovation-based economic development and drive growth in the creation of knowledgebased jobs. INCITE initiatives include investing in key research opportunities to build innovation networks; working with the private sector to translate research and development into high quality jobs; creating an early stage, seed and mezzanine capital co-investment fund to assist Tennessee companies with access to capital using state and federal funding; supporting entrepreneurial incubators in each of the state’s regions and creating a statewide incubator network to share best practices. REDUCING BUSINESS REGULATION ECD works with existing Tennessee businesses, business advocacy groups and state agencies to identify federal and state laws inhibiting job growth. Options are then developed for modifying laws and regulations where costs outweigh benefits, while coordinating with local, state and federal officials. Tennessee is a right-to-work state with no personal income tax and has one of the lowest regulatory and per capita tax burdens in the nation. We also have a toolkit of targeted incentives and programmes to help your company succeed. From tax credits to infrastructure grants to training programmes, Tennessee likely offers one or more programmes that can help your business thrive and grow. For more information, contact: Tennessee Department of Economic and Community Development 312 Rosa L. Parks Ave., Eleventh Floor Nashville, TN 37243 Tel: +1 615-741-3282 Website: www.tn.gov/ecd

SOUTH EAST REGION

The Tennessee Department of Economic and Community Development (ECD)’s mission is to develop strategies which help make Tennessee the No.1 location in the south east for high quality jobs. The department seeks to attract new corporate investment in the state and works with companies to facilitate expansion and economic growth.

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ARKANSAS

Arkansas

SOUTH WEST REGION

Arkansas is ideal for company leaders who want a central location and comprehensive transportation infrastructure that will allow them to get their products to consumers quickly and efficiently. The state is especially friendly to European businesses looking to expand westward. For more than half a century, Arkansas has been a leader in manufacturing, and that expertise continues today as the industry becomes increasingly focused on 21st century advanced manufacturing jobs. Arkansas’s cost of doing business is among the lowest in the United States. CNBC ranked Arkansas as having the fourth lowest cost of doing business among all states in 2015. Six European countries were among Arkansas’s top 20 trading partners in 2014 (France, Germany, Belgium, UK, Denmark and Austria). These six countries accounted for 16.3% of all Arkansas exports. Britain is well-represented in Arkansas with 9 companies with UK parents. These companies have 15 locations around Arkansas and account for about 940 jobs. According to the U.S. Department of Commerce, Arkansas has about 31,600 workers employed by foreign-owned firms. More than half of these jobs are in manufacturing. Foreign direct investment in Arkansas was responsible for 3.4% of the state’s total private-industry employment. Arkansas has the tools that help businesses succeed. Just look at our seven home-grown Fortune 500 companies headquartered here: Dillard’s, JB Hunt, Murphy Oil, Murphy USA, Tyson Foods, Windstream and Walmart – the world’s largest company. More than one hundred Fortune 500 parent firms operate facilities in Arkansas. One of these tools, our central location makes getting your products to worldwide markets easier and more costefficient than ever before. Interstate 40 is the major east-west thoroughfare reaching from North Carolina to California that runs through Arkansas. Interstate 55 links eastern Arkansas to St Louis and Chicago to the north and New Orleans to the south, while Interstate 30 connects Arkansas with markets to the south west, including Texas and Mexico. Arkansas’s railroad infrastructure includes three Class I systems: Union Pacific, BNSF Railway and Kansas City Southern Railway. Union Pacific operates major yards in Little Rock and Pine Bluff, along with a locomotive repair facility in North Little Rock. In addition, the state has 22 smaller railroads operating over more than 2,700 miles of track. If you prefer other modes of distribution, make note of the two major commercial airports in central and north west Arkansas as well as the commercial passenger service available at

six regional airports throughout the state. And, a network of waterways along the Arkansas River contains ports in Little Rock, North Little Rock, Pine Bluff and Fort Smith, in addition to Mississippi River terminals in Osceola, West Memphis and McGehee. We will help you feel at home in one of several available sites – including 14 certified sites – ranging in size from as little as 10 acres to more than 4,000 acres. In addition, Arkansas has approximately 600 available buildings which range from 10,000 square feet to 1.5 million square feet. More importantly, what you will find when you are ready to begin hiring is that the Arkansas Economic Development Commission (AEDC), working with other state agencies, offers a Career Readiness Certificate to potential employees. This helps make certain the people you interview are qualified and those you hire have the skills, or can be trained in the skills, that you need, thereby greatly increasing returns on your training dollars and efforts.

‘Arkansas’s incentives are nationally competitive, understandable and easy to use.’ Arkansas’s incentives are nationally competitive, understandable and easy to use. Arkansas works with new and existing industries and will focus on each business’s specific needs to provide a tailored incentive proposal for the project. Our project managers at the Arkansas Economic Development Commission are eager to speak with you and take you on a tour of an appropriate available site. Please visit www.arkansasedc.com to start your own Arkansas success story. For more information, contact: Arkansas Economic Development Commission Michael Preston – Executive Director 900 West Capitol, Suite 400 Little Rock, Arkansas 72201 Tel: +1 501-682-7384 Email: mpreston@arkansasedc.com Website: www.arkansasedc.com

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LOUISIANA

Louisiana

THE NATION’S NO.1 WORKFORCE DEVELOPMENT PROGRAMME

Since January 2008, Louisiana Economic Development (LED) has secured major economic development wins that have resulted in 91,000 new jobs and more than $62 billion in new capital investment in Louisiana. In addition to huge planned investments by Sasol and Formosa – some of the largest Foreign Direct Investment projects in US history – Louisiana has also attracted major investments from IBM, Benteler Steel/ Tube, Bell Helicopter, BASF and GE Capital.

Via the Mississippi River, Louisiana provides a gateway to 38 interior states and grants manufacturers easy access to worldwide markets through the Gulf of Mexico. The Louisiana port system is among the largest in the world, with 27 deepwater and shallow-draft ports. The Port of South Louisiana is the largest single port in the Western Hemisphere by tonnage, and the ports of New Orleans, Lake Charles, Greater Baton Rouge and Plaquemines all rank in the top 15. Louisiana is one of only two sites in the US where all six North American Class I railroads converge, providing great capacity and choice. As a result, Louisiana was ranked as the No.1 exporting state in the country, according to the U.S. Chamber of Commerce Enterprising States report.

‘Louisiana ranks 1st in the US in FDI attraction per capita’. Companies based in the United Kingdom – including Hunting Energy, Drax Biomass and BP Biofuels – have announced hundreds of millions of dollars in investments in Louisiana since 2008. Over that period, Louisiana has attracted FDI projects totalling more than $30 billion in new investment, ranking Louisiana No.1 in the US on a per capita basis, and No.2 overall.

Touted by The Economist as “the most notable statewide workforce-development initiative” and ranked No.1 in the US by Business Facilities magazine six years in a row, LED FastStart® provides customised workforce recruitment, screening, and training for eligible new or expanding companies at no cost. FastStart partners with a company’s subject matter experts to analyse and study their processes, then employs innovative methods to recruit talent that meets the company’s specific requirements. FastStart has delivered customised workforce solutions for a number of Fortune 500 companies across multiple industry sectors. UNRIVALED LOGISTICS ADVANTAGES

SITE SELECTION MADE EASY Louisiana offers hundreds of available sites, mega-sites and buildings, and a site selection database that includes GIS-based geographic suitability analyses, demographic and business data, community profiles and more: www.opportunitylouisiana.com/page/led-certified-sites More and more businesses are choosing Louisiana. To learn more about Louisiana’s custom-fit solutions for your company, contact our representatives below or visit opportunitylouisiana.com

NO.1 FOR BUSINESS CLIMATE In five national business climate rankings – Area Development, Business Facilities, Chief Executive, DCI and Site Selection – Louisiana now ranks among the top 10 states in the US. According to a landmark national study published by the Tax Foundation and KPMG, Louisiana offers the lowest state/local tax burden in the US for a new manufacturing operation, and the state boasts some of the lowest natural gas and electricity costs in the nation.

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For more information, contact: Kathe Falls Executive Director, International Commerce Tel: +1 225-342-4323 Email: kathe.falls@la.gov

Sanchia Kirkpatrick Chief Representative, United Kingdom Tel: +44 (0) 779 322 2939 Email: Sanchia. Kirkpatrick@LA.gov

Website: www.opportunitylouisiana.com

SOUTH WEST REGION

Strategically located at the confluence of the Mississippi River and the Gulf of Mexico, Louisiana has become a US leader in foreign direct investment (FDI) attraction and a key destination for British companies in the energy, manufacturing and logistics industries. Business-friendly policies, an abundance of talent, unique culture, and unrivalled physical assets also make Louisiana an ideal environment for knowledge-intensive industries like advanced manufacturing, alternative energy, software development, digital media, the arts and other creative industries.

OKLAHOMA

Oklahoma Located in the south central region of the United States, Oklahoma offers distinct advantages to global businesses seeking to relocate or expand, including a low cost of living, a state government determined to support businesses and to grow the labour force, a regulatory climate that is both responsible and reasonable, and an educated, flexible and committed workforce.

SOUTH WEST REGION

The state’s strategic central location; access to air, water and ground transportation; ample supplies of low-cost energy; below average land and construction costs; exceptional business incentives and low overall individual and corporate tax burdens are just some of the factors that make the cost of doing business in Oklahoma among the best in North America. Oklahoma has a very pro-business attitude. The state and local governments are very focused on supporting job creation and economic development. There is also a world class technical training system with locations all across the state. In addition, the cost of living in Oklahoma is among the lowest in the country but the quality of life is among the highest. GLOBAL BUSINESS LOCATION ASSISTANCE Expanding or relocating an international business to a new market demands speed and flexibility. Oklahoma’s unique Foreign Direct Investment Team specialises in expediting the site selection process and providing confidential one-stop assistance. OKLAHOMA’S FDI SERVICES INCLUDE: • Personalised, coordinated site visits – from major metropolitan areas to smaller cities surrounded by vast expanses of land, the Oklahoma FDI team will help narrow in on the right place for your business. They will schedule confidential site/community visits based on your exact requirements • Customised incentive analysis – Oklahoma has renowned incentive programmes. The Oklahoma FDI team will identify all state and local incentives applicable to your project • No-cost/low-cost training assistance – Oklahoma has the extensive and nationally acclaimed CareerTech network. The Oklahoma FDI team can help qualifying companies coordinate start-up training at no cost as well as long-term training through the state’s CareerTech network • State and local partnerships – Each of Oklahoma’s communities is unique and has various services to offer your business. The Oklahoma FDI team can directly connect you with regional and community economic development organisations and services, including utilities, environmental, tax and finance, workforce and training • Workforce recruitment and hiring – Your business cannot succeed without the right workforce. Your project manager will provide you with comprehensive labour market analysis, demographics, comparative wage data and initial employee identification and screening to help you understand Oklahoma’s workforce. They can also connect you with educational institutions and other resources that will help you ensure that you always have access to the trained workforce your business needs.

• Other services include: – Visa assistance – Export assistance – Supplier/partner identification – Regulatory and permitting assistance – Foreign entrepreneur support OKLAHOMA KEY INDUSTRIES: • Aerospace and Defence • Energy • Agriculture and Biosciences • Manufacturing • Information and Financial Services • Transportation and Distribution CULTIVATING THRIVING INDUSTRIES Oklahoma continues to be a leader in aerospace/defence with more than 1,200 aerospace-related companies throughout the state. Oklahoma is one of only seven global aerospace hubs, and home to the largest military and commercial aircraft Maintenance, Repair and Overhaul (MRO) operation in the United States. Oklahoma is at the epicentre of innovation in Unmanned Aerial System (UAS) technology and applications. Research and technology, access to restricted airspace and infrastructure, position the state to meet future UAS needs for a multitude of applications. Oklahoma is a major producer of natural gas, ranked fourth largest in the nation. It has five operating crude oil refineries with a combined daily capacity of over 500 thousand barrels a day. Oklahoma has 21,637 miles of natural gas pipeline, the third highest in the US. With this long-known oil and gas legacy, the state has also emerged as a major market for the renewable energy industry. OKLAHOMA BY NUMBERS: • Population – 3.9 million • Employment – 1.76 million • Location – South Central US • Geography – 68,594 square miles • Metros – Oklahoma City (pop. 1.3 million), Tulsa (970,000) • GDP – $162.4 billion • Exports – $6.3 billion • Imports – $13.6 billion For more information, contact: Jennifer Springer, Program Manager Global Trade and Investment Oklahoma Department of Commerce 900 North Stiles Ave, Oklahoma City, Oklahoma 73104 Tel: +1 405-815-6552 Email: jennifer.springer@commerce.ok.gov Website: OKcommerce.gov

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TEXAS

Texas

With its top-ranking business climate and booming economy, Texas is a leading global destination for Foreign Direct Investment (FDI). The Lone Star State houses more than 1,400 ongoing operations by foreign corporations and, between 2010 and 2015, 766 new FDI projects were announced. When all projects are fully operational, they will generate around 83,300 jobs and more than $40 billion in combined capital investment.

ADVANCED TECHNOLOGY AND MANUFACTURING Texas continues to attract and cultivate Texas-sized advanced manufacturing investments. In July 2015, General Motors announced a $1.4 billion investment for upgrades at their plant in Arlington, Texas. The Arlington City Council approved a ten year, $28.7 million package of abatements for the 1.2

AEROSPACE, AVIATION AND DEFENCE Texas’s aerospace industry continues to expand, as Firefly Space Systems, a small satellite launch company, announced in September 2015 their move from Hawthorne, California to Cedar Park, Texas. The expansion plans include $7.5 million in property, plant and equipment and the creation of 200 jobs. Their office in Cedar Park will be ideally located due to its proximity to their 200 acre test site facility near Briggs, Texas. In early 2015, GDC Technics added a third location when they leased a 778,000 square foot hanger at Alliance Airport. GDC, an aircraft modification firm, works on several Boeing aircraft from the 737 model to the 777 together with the Airbus fleet, including the Airbus A340-500. The new location will employ

July 7, 2015 Gov. Abbott attends the groundbreaking of new Facebook data centre in Fort Worth, Texas. The data centre is projected to create more than $500 million in capital investment within 5 years, along with at least 40 full-time jobs to facilitate its operation.

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SOUTH WEST REGION

An integral part of Texas’s success is its focus on leading the nation’s job creation within six key industries.

million square foot expansion of the plant and the more than 550 additional jobs it would create. Kubota Tractor Corp. and Kubota Credit Corp. announced in May 2015 of their intention to move their headquarters from California to Grapevine, Texas. A $3.8 million grant from the Texas Enterprise Fund (TEF) will create about 345 jobs and generate $51 million in capital investment.

TEXAS

SOUTH WEST REGION

Texas Governor Greg Abbott, centre, takes a tour guided by Mike Roth, vice president of North American operations for Amazon, at the new Amazon Fulfillment Center in Schertz, Texas, in April 2015.

up to 600 people including engineers, technicians, aircraft maintenance and other specialists. These companies follow the earlier behemoth announcements made by SpaceX and the United Launch Alliance. SpaceX announced in August 2014 that Brownsville, Texas would be the location for their new launch facility. The site will be the world’s first commercial launch complex designed specifically for orbital missions. Texas is already home to SpaceX’s Rocket Development Facility, which is located in McGregor, Texas and employs over 250 people. United Launch Alliance, a joint venture between Lockheed Martin and Boeing, operates their manufacturing, assembly and integration operations out of Harlingen, Texas. They perform spacecraft launch services for government missions. BIOTECHNOLOGY AND LIFE SCIENCES Innovative biotechnology companies continue to relocate and expand in Texas. In early 2015, UK-based cancer healthcare company, Endomag, announced the opening of its new US office in Austin, Texas. With their investment of $12 million and the creation of 90 jobs, Endomag has taken the first step in expanding into the American market. In April 2015, Biotest Pharmaceutical Corp., a wholly owned subsidiary of Biotest AG, a global Germany company, announced their new facility in San Antonio, Texas. Biotest, a company that develops immunology biotherapeutic products that are used to treat life-threatening disorders, has invested $7.8 million in their new plasma collection facility. The nearly 20,000 square foot facility will be home to more than 50 medical personnel and phlebotomists. INFORMATION AND COMPUTER TECHNOLOGY Two of the best-known high-tech companies in the world, Apple and Facebook, continue to grow and continue to take advantage of the high-tech business environment Texas has to offer. In July 2015, Facebook announced they will build its fifth data centre project in Fort Worth, Texas. The $1 billion investment will consist of three 250,000 square foot buildings on a 110-acre site. The Fort Worth City Council approved a $146.7 million incentive package. Apple, the world’s largest consumer electronics company, continues to work on their seven-building campus in Austin, Texas. Promising to hire 3,635 employees when announced in 2012, the company now employs 5,000 and has built the campus to house 7,000.

Houston, “The Energy Capital of the World”, houses more than 5,000 energy-related firms including more than 500 exploration and production firms, more than 150 pipeline transportation establishments and hundreds of manufacturers and wholesalers of energy-sector products. The natural gas industry boom has created huge opportunities for companies like Freeport LNG and Cheniere. In April, Freeport LNG secured their final piece of financing for their $12.5 billion liquefaction project in Freeport, Texas. The company will employ 300 people and be fully operational by the end of 2019. In May, Cheniere Energy received approval to build their liquefied natural gas facility near Ingleside, Texas. The $13 billion project will take five years to build and employ 300 people. Total Petrochemicals selected Port Arthur, Texas in June 2015 as the site for its $1.6 billion ethane cracker. The facility will produce a base ingredient in plastics from natural gas. ENERGY Texas has been well known for its natural resources in oil and natural gas, but few realise the potential and opportunities Texas has for renewable energy. Texas is a national leader in the wind energy industry. It ranks first in the US for both installed and under construction wind capacity, and gets 9% of its electricity from the wind. The state is home to at least 46 manufacturing facilities, including turbine manufacturer Alstom, tower manufacturer Trinity Structural Towers and, in June 2015, Gestamp Renewable Industries, a division of Spanish-based Gonvarri Steel Industries, announced plans to manufacture wind towers in Amarillo, Texas. The $41 million plant will employ 300 people and have an estimated annual payroll of more than $13 million. As part of the state’s Competitive Renewable Energy Zone programme (CREZ), Texas has spent around $7 billion building transmission lines to make wind and solar projects in west Texas accessible to population centres. Along with wind, solar projects are taking off. According to state records, Pecos County could soon host several large solar-energy farms responsible for $1 billion in investments, and the Electric Reliability Council of Texas expects between 10,000 megawatts and 12,500 megawatts of solar-generating capacity to be installed by 2029. That equates to the size of all solar farms currently operating in the US. From automotive manufacturing to energy and petroleum, Texas is a land of opportunity across many industries. General Motors, Facebook and Cheniere are just a few of the major companies that have benefitted from the state’s award winning business climate, booming economy and proven leadership. These companies, along with thousands more, prove that Texas truly is Wide Open for Business. For more information, contact: Office of the Governor Economic Development & Tourism PO Box 12428 Austin, TX 78711-2428 Tel: +1 512-936-0100 Website: www.texaswideopenforbusiness.com

PETROLEUM REFINING AND CHEMICAL PRODUCTS Many of the global energy-related companies call Texas home, including ExxonMobil, Phillips 66, Valero and BP.

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TEXAS – CEDAR HILL

Cedar Hill: Where Opportunities Grow Naturally

Opportunities grow naturally in Cedar Hill with easy connections in the north Texas region. Located 20 minutes from downtown Dallas and 40 minutes from downtown Fort Worth, with multiple connections to the rest of the DFW Metroplex. A 30-minute drive will take you to DFW International Airport or Dallas Love Field. For executive air travel, Dallas Executive Airport is only 15 minutes away.

With the prime location for retail, recreational, residential, commercial and industrial opportunities, locating and growing a business in Cedar Hill is easy. Educational opportunities abound with a Texas Education Agency accredited school district, Strayer University and Cedar Valley College, a Dallas County Community College District satellite campus colocated with the Best Southwest Small Business Development Center. Businesses naturally thrive here, as a result of an active business community, a ready workforce, and a City that seeks growth. Trademark Property Co. has begun its multi-million dollar renovation of Hillside Village shopping centre, formerly known as Uptown Village at Cedar Hill. The first phase of renovations will include updated signage, a new children’s play area, a

Cedar Hill was founded in 1846 by settlers from Peters Colony seeking a place to build their homes, socialise, worship and conduct business. What they discovered was an area rich in natural beauty and opportunity. Since that time Cedar Hill has become a thriving city thanks to the hard work, ingenuity, foresight and determination of our forefathers. It is a city steeped in family values, tradition and rich in history. Historic Downtown has a character all its own and personalised service is a hallmark of doing business here. There is a wide range of shops, services and one-of-a-kind dining experiences. From antiques and jewellery to cupcakes and quilts, you’re sure to find what you’re looking for in Historic Downtown Cedar Hill. “The Hill Country of the Metroplex,” Cedar Hill has commitment and passion for the environment. Travel along mature treelined roadways and view impressive residential developments at affordable prices. Add to this a City commitment of 20% open space, Cedar Hill offers 32 neighbourhood and community parks, a system of greenbelts within approximately 2,500 acres, plus 40 miles of multi-purpose trails, providing places for people to relax, play and explore. In addition to the prosperous business climate, Cedar Hill boasts natural beauty. Cedar Hill State Park is nearly 2,000 acres, located on the 7,500 acre Joe Pool Lake. The scenic beauty of the area combined with over 100 miles of shoreline make this one of the most visited state parks in Texas. Dogwood Canyon Audubon Center is situated on 205 acres of Dogwood Canyon. This centre contains the widest variety of rare species in North Texas – plants and animals from east, west and central Texas converge here. Add this to an extensive city park system, and recreational opportunities abound. Cedar Hill offers all the amenities of a modern city, but retains a small town feel and relaxed charm that harkens to a bygone era. Experience our warm Texas hospitality and discover the opportunities our forefathers uncovered here over a century ago. For more information about Cedar Hill, go to www.cedarhilledc.com or call the Cedar Hill Economic Development team at +1 972-291-5132.

Hillside Village

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SOUTH WEST REGION

The Cedar Hill Business Park is located just a quarter of a mile from Highway 67 in the Cedar Hill Industrial District. BNSF rail serves the Cedar Hill Business Park as well as other available sites in the City. It Includes competitive and negotiable land prices, rail-served sites and non-rail-served sites, and is easily accessible to Interstate 20 and the future Loop 9.

new promenade section with a bocce ball court, a covered stage area, enhanced landscaping and lighting and additional shaded seating around the village green. Completion of the first phase is scheduled for this fall. Hillside Village is currently home to 350,000 square feet of retail and restaurants, including H&M, Barnes & Noble, Dillard’s, Dick’s Sporting Goods, Charlotte Russe, Charming Charlie, Buckle, Papaya and Victoria’s Secret.

TEXAS – CONROE

Conroe, TX

SOUTH WEST REGION

Conroe, Texas is on the radar as a premier location for business relocations and expansions. As the sixth fastest growing city in America for cities of 50,000 or more, located within the Houston MSA, we are proud to welcome you to our growing community just north of Houston. Despite Conroe’s growth, its history as a friendly agricultural town with oil and lumber as the economic mainstays has not been forgotten. Today Conroe maintains that small town charm as a very liveable community with a low crime rate, excellent health care and education and an incomparable quality of life. Beautiful Lake Conroe, Sam Houston National Forest and Jones State Forest, along with 390 acres of city park land and 8 public golf courses offer a wide range of exciting recreational opportunities. Quality education at all levels is a top priority in Conroe. The greater Conroe area features a wealth of educational opportunities including three public school systems, a number of outstanding private and parochial schools, a two year college (Lone Star College) and access to some of the toptiered universities in the country to include Texas A&M, Rice University, and the University of Houston. Branches of each major hospital within the world renowned Texas Medical Center are in Conroe or the adjacent community of The Woodlands Two city-owned business parks (Conroe Park North and Deison Technology Park) offer affordable shovel-ready land. Reliable utilities, accessibility to major freeways and highways and a skilled workforce make Conroe a natural choice for growing companies. Conroe is also located just 45 miles north of the world-class Port of Houston. The City of Conroe operates Foreign Trade Zone 265 to facilitate international trade inbound and outbound. Competitive incentive packages for business relocation and expansion offer the proverbial “icing on the cake.” Conroe is an international community hosting firms such as Bauer Manufacturing a part of the

BAUER Group in Schrobenhausen, Germany or Hempel Coatings from Denmark. New additions to Conroe Park North also include LUC Urethanes a new division of LUC Group. Steel manufacturers and distributors Jyoti Structures and Stainless Structures have also invested in Conroe. Our future is tied to energy and much more. Deison Technology Park adjacent to Conroe – North Houston Regional Airport offers a world-class environment for R&D, corporate back office and advanced manufacturing. The airport boasts a runway that can accommodate all types of business aircraft, a state-of-the-art air traffic control tower, three full-service FBOs (fixed-base operators) and a restaurant. An on-field U.S. Customs facility is under construction and will be operational in April 2016. George Bush Intercontinental Airport Houston is a short 35 minute drive away and offers extensive domestic and international flights. The Greater Conroe EDC is here to link you to all the resources necessary to locate or expand in our city. GCEDC will help you make an informed decision and have a seamless transition experience entering or expanding in the US. Our professional staff has assisted many overseas companies in such diverse areas as customs, visas, establishment of a US/Texas business entity, site selection, workforce recruitment and training, and familiarisation and collaboration with local, state and national programmes of assistance to onboard you and members of your organisation efficiently and in a timely manner. Easy access to the fourth largest city in the US, proximity to the “Energy Capital” of the world, minutes from energy giants like Exxon/Mobil, Anadarko and Repsol, we have the premiere location within the Houston MSA to accommodate your expansion efforts. We want you and your business in our community and we will do everything possible to prepare for your arrival. When considering a US relocation or expansion contact us at +1 936-538-7118 or email to info@gcedc.org for additional information. Conroe, Texas – expanding opportunities for new business: www.gcedc.org

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TEXAS – FRISCO

There’s room to grow in Frisco, TX. Bring your dreams!

One of Frisco’s chief assets is its centralised location in the continental United States and the booming Dallas metro area. Frisco is a 25 minute drive north of downtown Dallas and Dallas-Fort Worth International Airport, with fast and easy access to major highways. Connection to US Interstate 35, a major trade route to Canada and Mexico through the United States, is within minutes. One of Frisco innovative businesses, Cornerstone Automation Systems, Inc. (CASI), recently expanded into a new build-tosuit corporate headquarters and clean manufacturing facility/ warehouse. CASI designs, manufactures and implements state-of-the-art material handling, packaging and warehouse automation for customers around the globe, including clients in the United Kingdom. CASI CEO Tom Karol calls his build-tosuit experience in Frisco an ‘efficient’ and ‘effective’ process. Karol states this about CASI’s expansion, “Frisco does a good job of attracting a quality workforce. That’s one of the reasons we chose Frisco. The kind of talented STEM professionals we want to hire are attracted to living here”. In fact, several hundred residents relocate to Frisco each month, so we understand the challenges and opportunities that come with being the ‘new kids on the block’. With a 5.8% annual growth rate, Frisco specialises in turning change and new beginnings into a success story for people and businesses alike. The city is a magnet for a highly educated and diverse workforce, many of whom are raising the next generation of innovators in one of the safest and most prosperous places in America. The latest chapter in Frisco’s success story is the $5 Billion Mile. Frisco now claims one of the most dynamic development concentrations in America with $5.4 billion in capital investment, either announced or under construction, within a one-mile stretch of road along the Dallas North Tollway, a key business corridor in North Texas. Four mixed-use developments are located within the 549 acres of the $5 Billion Mile.

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1) Wade Park, a 175-acre development is designed to be a major retail, corporate and residential centre featuring walking access to highly desired amenities. Wade Park is also the site chosen for the first Langham Hotel in the state of Texas 2) The Star in Frisco is home to the future world corporate headquarters and training facility of the most valuable sports franchise in the world, The Dallas Cowboys 3) Frisco Station, and 4) The Gate, a luxury mixed-use project of Dubai-based developer, IGO (Invest Group Overseas) Explore addition information about these four projects at FriscoEDC.com/5BMILE and search #5BMILE on Twitter. The Frisco Economic Development Corporation is here to help when you are ready to make your corporate move, from offering competitive incentives for qualified projects to connecting your executive team with a network of resources to make a smooth transition. Frisco also facilitates foreign investment through the Frisco Texas International Development Center, an EB-5 regional centre. • Access to a workforce of 500,000 within a 10 mile radius • High concentration of IT workers: double the US average • 59% of residents 25+ hold a bachelor’s degree or higher level of education • NTEC, Inc. incubator for highly scalable start-ups and entrepreneurial ventures • Well managed growth by the City of Frisco government to meet the demand of 300%+ population increase since April 2000 • Toyota Stadium, home to FC Dallas, is undergoing a $39 million renovation to further its prestige as a world-class destination for the international sport of football and to become the home to the U.S. National Soccer Hall of Fame Learn more about building a better business and a better life at FriscoEDC.com/videos. For more information, contact Frisco Economic Development Corporation 6801 Gaylord Parkway, Suite 400, Frisco, TX 75034 Tel: +1 972-292-5150 Harry Whalen Elise Back Email: hwhalen@ Email: eback@ friscoEDC.com friscoTXEB5.com Website: FriscoEDC.com Website: FriscoTXEB5.com Facebook: /FriscoTXEDC Twitter: @FriscoTXEDC YouTube: /FriscoTXEDC LinkedIn: /company/friscoedc

SOUTH WEST REGION

Building a better business and a better life are possible in Frisco, Texas, because of a community of “doers” who still believe in hard work and handshakes that deliver on promises. The absence of a state income tax combined with innovative leadership and competitive incentives for qualified projects make Frisco a wise choice to expand your business footprint into North America. Frisco’s dynamic business climate is possible through low unemployment and one of the lowest property tax rates in North Texas.

MID-WEST REGION

Mid-West Region Top Industries Aviation Bioscience Distribution Food Processing Renewable Energy

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Illinois European Office Boulevard de la Cambre 28-30 1000 Brussels, Belgium +32.2.6465730 Brussels@illinois.gov DCEO.Brussels@illinois.gov illinois.gov/dceo

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WELCOME

ILLINOIS – A MESSAGE FROM THE GOVERNOR

STATE OF ILLINOIS BRUCE RAUNER GOVERNOR

It’s a new day in Illinois. When I was sworn in as Governor in January 2015, I made a commitment to forge a path toward longterm prosperity and a brighter future for Illinois and to make the Land of Lincoln the best place in the country to live and work. I ran for Governor because I strongly believe in the potential of Illinois and its residents. Under my administration, we will make Illinois the kind of state others aspire to become, a national leader in job growth and education quality. The people of Illinois are some of the most innovative, entrepreneurial and hard-working people our nation has to offer. Illinois is home to over 200 colleges and universities - including world-class institutions like the University of Chicago, Northwestern University, and the University of Illinois, one of the top 15 public universities in the Country – and a highly educated, diverse workforce, with one in three people holding at least a bachelor’s degree. Our highly skilled, dedicated workforce attracts companies from all over the world, with 34 Fortune 500 companies and nearly 2,000 foreign firms choosing to do business in Illinois, including over 300 UK companies that employ 55,598 Illinoisans.

MID-WEST REGION

Illinois’s diverse economy offers businesses access to a wide variety of industries and opportunities. Home to the Chicago Board of Trade and the Chicago Board of Options Exchange, Chicago has a thriving financial services community, while also offering access to a growing advanced manufacturing industry. Downstate Illinois fuels the world, producing the food we eat and the energy to power our cities and factories. With a central location, Illinois is truly the heartland of North America. Companies can take advantage of our state’s extensive transportation and logistics system to access any market in North America in less than a day. Three international airports with over one thousand flights a day, including 11 daily flights between Chicago and the UK, give Illinois companies a global reach. An extensive network of class I railroads, interstate highways, and waterways facilitates ease shipping to and from Illinois. With Lake Michigan to the northeast and the Mississippi River along Illinois’s western border, firms are easily able to ship large volumes of goods internationally. As the largest exporting state in the mid-west, our companies rely on Illinois’s world-class infrastructure to get their goods to market quickly and safely. While Chicago is affectionately referred to as the ‘Second City,’ Illinois is committed to becoming number one in the nation in business development and growth. I am working hard every day to enact structural reforms to protect middle class families and make it easier for businesses to thrive in Illinois. My administration is committed to growing a strong, diverse business community in Illinois, and we look forward to working with the UK’s business community to explore new opportunities in Illinois. I invite you to contact our Illinois Department of Commerce or visit www.illinois.gov/dceo to learn more about doing business here and how Illinois can be a partner in your success. Sincerely,

Bruce Rauner Governor IT’S A NEW DAY IN ILLINOIS

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ILLINOIS

Illinois

As the world’s 19th largest economy, Illinois is a global economic powerhouse that ranks No.1 in the mid-west as a destination for Foreign Direct Investment. Over 300 companies from the UK have made Illinois home, such as Tate and Lyle, HSBC, AON plc, BP plc, FirstGroup plc, Dyson plc and Renishaw. These companies are part of Illinois’s global business community, which includes nearly 2,000 foreign companies and 12 Fortune Global 500 companies. In addition to a cosmopolitan business community, Illinois is home to 34 Fortune 500 companies and 29 S&P 500 companies. Companies from a wide variety of industries ranging from manufacturing to financial services have chosen to grow their businesses in Illinois, creating a diverse business community that fosters cross-sector connections and collaboration. As the nation’s third largest manufacturing state, Illinois has a rich history, producing everything from heavy machinery to plastics and aerospace equipment. Recently, advanced manufacturing technologies have opened up new opportunities for growth in Illinois. 2015 marked the grand opening of the Digital Manufacturing and Design Innovation Institute (DMDII) in Chicago, a first-of-its-kind public-private digital manufacturing hub that will bring together industry,

universities, state and federal government, and non-profit organisations working side by side to solve the most pressing problems facing modern manufacturing. The research and technologies produced at DMDII will transform manufacturing and provide a training ground for the next generation of engineers, programmers and production workers. DMDII has already begun to attract companies from across the country to utilise its resources and will cement Illinois’s position as the centre of advanced manufacturing in the United States. Manufacturing in Illinois grew around its needs as an agricultural state, with industry titans such as Caterpillar Inc. and Deere & Co. anchoring agricultural manufacturing in Illinois for over a century and growing into billion-dollar international industries. Today, the state remains a leader in agricultural and food production, attracting companies from around the country to locate their headquarters in Illinois. The recent relocation of food processing giant ConAgra from Nebraska to Illinois attests to the state’s reputation as an industry hub. Businesses from around the globe are drawn to Illinois due to its highly skilled workforce and position at the heart of the American logistics network. With over 200 institutions of higher education, Illinois has no shortage of educated residents. World-class institutions such as University of Chicago, Northwestern University, and the University of Illinois-Champaign Urbana offer Illinois

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ILLINOIS

Cloud Gate by British artist Anish Kapoor at Millennium Park, Chicago

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residents an education at a top university and attract students and faculty from around the world. One in three members of Illinois’s 6.6 million person workforce have attained a bachelor’s degree or higher, well above the national average of 28.8%, making it one of the most educated in the mid-west. Chicago, the economic and cultural centre of Illinois, is a magnet for the brightest minds in the US. Recent graduates and young people from around the world are drawn to the diversity, vibrant cultural and arts scene, and the opportunities that can be found in the city. Chicago has a deeply rooted international community, with over 80 foreign consulates and consuls general, including the British Consulate General established in 1855 and over 100 international or ethnic chambers of commerce and international trade organisations. The British School of Chicago offers students ages 3 to 18 the International Baccalaureate Diploma Program. The energy and drive of the people of Chicago are evident in the city’s budding technology and start-up sectors. Chicago is home to 2,100 digital companies, including locally founded tech companies such as GrubHub and Groupon, as well as mid-west outposts for Silicon Valley powerhouses like Google and Facebook. An emerging start-up scene and strong investment in research and development puts Chicago at the centre of Illinois’s innovation ecosystem. Illinois’s central location within the United States places it at the heart of North America’s logistics infrastructure and provides easy access to a wide variety of domestic and international markets. With seven class I freight railroads and the third largest interstate highway system in the US, Illinois is one of the country’s largest transportation hubs for shipping and the largest intermodal port in the western hemisphere. The Mississippi River, Lake Michigan and a network of waterways provide Illinois a natural advantage in shipping goods to international markets.

Three international airports facilitate easy shipping of airfreight as well as business travel to and from Illinois via 11 nonstop daily flights between Chicago and the United Kingdom. Chicago Rockford International Airport is a growing cargo hub and home to UPS’s second largest US hub. Chicago’s O’Hare International Airport offers the most flights in the United States to over 200 destinations and is the only dualhub airport system in North America. O’Hare is a gateway, putting international travellers within a four hour flight of any destination on the continent. Illinois has a strong connection to the global economy, with exports accounting for nearly 10% of the Gross State Product and totalling over $68.2 billion, making Illinois the largest exporting state in the mid-west and the fifth largest in the nation. In 2014, Illinois exports to the UK totalled over $1.6 billion, while UK imports in Illinois totalled $2 billion, largely in machinery and primary metal manufacturing. Illinois contains eight Foreign Trade Zones throughout the state, which offer time and financial savings to foreign companies shipping goods to Illinois. Foreign Trade Zones are located in Chicago, Rockford, Savanna, the Quad Cities, Peoria, Decatur, Granite City and Lawrenceville. We invite you to grow your business in Illinois USA. So please make contact with our European office to learn more about our free and confidential services. For more information, contact: Department of Commerce Office of Trade and Investment State of Illinois European Office 28-30 Boulevard de la Cambre, Bte 2 1000 Brussels Belgium Tel: +32 2-646-5730 Email: DCEO.Brussels@illinois.gov Website: illinois.gov/dceo

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KANSAS â&#x20AC;&#x201C; A MESSAGE FROM THE GOVERNOR

Capitol Building Room 241-South 300 SW 10th Street Topeka, KS 66612

Phone: (785) 296-3232 Fax: (785) 368-8788 governor@ks.gov Sam Brownback, Governor

Dear Friends, In our globally competitive economy, it is increasingly important for businesses to reduce costs, hire great workers, and remain innovative. Kansas recognises that the needs of business are continually evolving and we have worked to build a business environment that responds to those needs and supports growth. The Kansas workforce is educated and experienced, our infrastructure and utilities are world class, and our state is one of the most affordable places to do business. Kansas is home to a workforce equipped with the skills and expertise demanded by companies. Our state has implemented a number of innovative training programmes to ensure workers have the advanced technical skills needed to succeed in the workplace. In addition, our universities and colleges enjoy strong industry partnerships that enhance their educational programmes and support world class research in areas such as manufacturing and bioscience. Kansas tax policies and business regulations are designed to encourage economic growth and facilitate investment. For three consecutive years, Kansas has had more than 15,000 new business filings, record growth for our state. Our stateâ&#x20AC;&#x2122;s export totals consistently exceed our regional average, further proof that businesses in Kansas are competing in markets around the world.

An excellent workforce, pro-growth policies, low costs and outstanding infrastructure have helped Kansas build a leading business environment. My administration will continue to promote policies that support the efforts of businesses to innovate and create jobs, while investing and growing the economy. I encourage you to take a closer look at Kansas and the many ways our state can help your business thrive. Best,

Sam Brownback Governor

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Businesses in Kansas benefit from a location at the centre of the United States â&#x20AC;&#x201C; a location enhanced by one of the best transportation systems in the country allowing businesses to ship goods to clients around the world with ease.

KANSAS

Kansas

Known as the Sunflower State, Kansas boasts a highly skilled workforce, outstanding infrastructure, low operating costs and a location in the heart of America. Thanks to these advantages, the state has experienced significant growth in numerous industries and emerged as a leader in sectors such as advanced manufacturing, alternative energy, bioscience, distribution and food processing. Leaders in these sectors and in many others have decided that the best place to invest in their future growth is Kansas.

Since the beginning of 2008, wind generating capacity in Kansas has more than tripled to 2,967 megawatts. That capacity places Kansas in the top 10 in the US, and the state currently has more than 1,000 megawatts of additional wind energy projects under construction. Projections indicate that the state’s power system could potentially provide 7,000 megawatts from wind energy by 2030.

ADVANCED MANUFACTURING AND AEROSPACE

In order to support the continued expansion of the renewable energy industry, Kansas has a goal of generating 15% of the state’s electricity from renewable sources by 2016, and the state’s utilities are on track to meet this target. A further goal of 20% by 2020 has been set.

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Kansas has a proud history as a manufacturing leader, particularly in the aerospace sector. The state’s largest city, Wichita, is known as the Air Capital of the World due to the prominent role it plays in aviation manufacturing. Home to companies such as Textron Aviation and Bombardier, Wichita produced 43% of all general aviation planes built in the United States in 2014. The city’s largest employer, Spirit AeroSystems, manufactures fuselage, propulsion and wing systems for many major commercial aviation manufacturers, including Airbus and Boeing. This year, GE Aviation and Figeac Aéro have also announced significant projects in the state. Wichita’s aviation manufacturers are supported by the National Center for Aviation Training and Wichita State University’s National Institute for Aviation Research. These educational institutions help hone the skills of the workforce in south central Kansas, while also partnering closely with industry on research. The Innovation Campus at Wichita State is a new and unique partnership that combines the university’s world class aviation research with industry expertise. In 2015, Airbus announced that it would locate a major engineering centre with 400 employees on the Innovation Campus.

Beyond wind energy, Kansas has a growing biofuels sector. As an agricultural leader, the state offers affordable access to plentiful amounts of the raw materials needed to produce biofuels. Abengoa Bioenergy recently opened a cellulosic ethanol plant in southwest Kansas with a production capacity of 25 million gallons a year.

BIOSCIENCE Bioscience is yet another emerging industry in Kansas. The Kansas City Animal Health Corridor is home to more than 300 animal health companies that account for 56% of worldwide animal health, diagnostics and pet food sales. The Corridor is anchored in the west by Manhattan, Kansas. This city is home to Kansas State University, which is respected across the country as a leader in animal health research. Due to Kansas State’s strengths in this area, the U.S. Department of Homeland Security is constructing its new National Bio and

In addition to aviation, numerous other advanced manufacturing sectors are thriving in Kansas. Companies such as General Motors, Goodyear Tire and Rubber and Newell Rubbermaid have achieved tremendous success with their manufacturing operations in Kansas. RENEWABLE ENERGY In western Kansas, winds whip across the prairie, providing the state with a valuable source of renewable energy. During the past decade, energy companies have started to capitalise on this resource by building a growing number of wind farms in the state, and Kansans continue to show increasing interest in expanding the use of large and small scale wind farms.

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KANSAS

Agro Defense Facility in Manhattan, a $1.25 billion state-of-theart biosafety research laboratory. The human health industry is also rapidly expanding in the Sunflower State. The University of Kansas Medical Center and Cancer Center are nationally recognised for their research and patient care. As a result, a number of clinical research companies and technology firms that serve the healthcare industry are expanding in the Kansas City area. DISTRIBUTION Geography is one of Kansas’s key assets. With a location at the centre of the US, the state offers easy access to clients across North America. Interstate 70, which runs from the East Coast to the western United States, cuts a swath through the middle of Kansas. So does Interstate 35, which stretches from Canada to Mexico and is a key component of the North American Free Trade Agreement Corridor. Beyond these major routes, the state is home to a many additional miles of high quality highways, as only two states have more total road miles than Kansas.

Between the quality and extent of the state’s infrastructure and its central location, Kansas is unsurprisingly home to distribution centres of many global firms, including Coleman, Home Depot, Foot Locker, Target and Walmart. Recently, Kubota Tractor Corporation joined these firms by opening its North American distribution centre at Logistics Park Kansas City. VALUE ADDED AGRICULTURE AND FOOD PROCESSING Known as the breadbasket of America for its wheat production, Kansas is also one of the United States’s leading producers of beef, corn and soya beans, and has one of the most rapidly growing dairy industries of any state. Because of this

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abundance of raw agricultural commodities, a growing number of value-added agriculture and food processing companies are opening facilities in Kansas. Last year, Mars Chocolate North America opened its first new plant in the US in 35 years in Topeka, Kansas. The company has experienced such success with the facility that it announced a $100 million expansion project in the summer of 2015. Unilever joined Mars in making a substantial investment in the state with a $150 million expansion of its spreads manufacturing facility in Johnson County. These companies are joined by other major food processing firms such as Cargill, Frito Lay, Sara Lee, Reser’s, Tyson, Hostess, National Beef and Schwan’s. In 2015, Dairy Farmers of America announced the relocation of its corporate headquarters to Kansas and also began construction of a $235 million milk powder plant that will process four million pounds of milk per day. AN INVESTMENT IN THE FUTURE Businesses in Kansas are attaining remarkable success today, yet they are positioned for even stronger growth in the future. In an increasingly competitive global economy, innovation and forward thinking leadership is of the utmost importance. Recognising this, Kansas has focused on building a business environment that supports growth now and in the future. Through innovative workforce programmes, cutting edge research institutions, outstanding infrastructure and reduced costs, the state is prepared to help companies achieve success for years to come. Business and industry leaders from around the world are investing in the Sunflower State because they recognise that an investment in Kansas is an investment in their future. For more information, contact: Randi Tveitaraas-Jack Kansas Department of Commerce 1000 SW Jackson Street, Suite 100 Topeka, KS 66612-1354 Tel: +1 785-296-7868 Email: rjack@kansascommerce.com Website: www.kansascommerce.com/kbiz

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The state also ranks in the top 10 in railroad miles, which helps facilitate second day freight delivery to every area of the continental US. This railroad system includes the Logistics Park Kansas City intermodal facility located in Edgerton, Kansas. The $1 billion state-of-the-art development is the only full-service facility in the western two-thirds of the country that offers the combination of domestic intermodal service, international intermodal service and direct-rail and carload service. It features 64,000 feet of track, 4,300 container stacking spots, and five wide-span cranes that are all electric to reduce the facility’s environmental impact.

MINNESOTA – A MESSAGE FROM THE GOVERNOR

Greetings, I’m honoured to have this opportunity to write about Minnesota and its exceptional business climate. No doubt about it, Minnesota is the best place in the country to develop and grow a business. Don’t just take my word for it. CNBC recently named Minnesota America’s Top State for Business in 2015. The business channel analysed 60 economic measures, including workforce quality, the economy and business friendliness. CNBC’s conclusion: no state is more competitive than Minnesota when it comes to attracting and keeping businesses. Technology and innovation, in particular, ranked high in the study, and for good reason. Minnesota has one of the strongest life science, biotech and health tech clusters in the world, featuring more than 1,700 companies specialising in medical devices, drugs and pharmaceuticals, research and bio-agriculture. Minnesota’s Medical Alley is the most densely concentrated cluster of medical technology companies in the United States, employing more than 35,000 people. In the past five years alone, close to 5,000 medical device patents were granted to Minnesota entities or inventors, ranking second only to California.

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The state also is home to Mayo Clinic, one of the world’s leading research and medical facilities. The Rochester-based medical centre ranked No.1 in more specialties than any hospital in the United States in the 2015/16 U.S. News & World Report rankings. Officials are planning a $6 billion Destination Medical Center project that will transform Rochester into a global biomedical hub in the next 20 years. Underscoring Minnesota’s business strength is its economic diversity and vitality. Minnesota has 17 Fortune 500 companies, including businesses that specialise in retail (Target, Best Buy), food (General Mills, Hormel), health care (UnitedHealth Group) and finance (U.S. Bancorp, Ameriprise Financial, Thrivent Financial for Lutherans). We are fortunate to have more than 140 companies that are affiliated with UK companies and employ 16,500 people. Thanks to its highly educated workforce and vibrant business environment, Minnesota is attracting businesses from around the world. We’d love to have you join us. Sincerely,

Mark Dayton Governor

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MINNESOTA

Minnesota

British-owned firms are thriving in Minnesota, from engineering services, consumer lending, medical devices, civil engineering construction, commercial printing, pharmaceuticals, environmental consulting and more. In fact, Minnesota companies affiliated with UK corporations employed the second-largest number of workers (16,500) among the state’s foreign firms, based on data from the Bureau of Economic Analysis at the U.S. Department of Commerce. More than 140 companies in Minnesota are affiliates of British firms. Major firms include Ferguson Enterprises, First Student Inc., NCS Pearson Inc., Investment Centers of America, BP Products North America and Greyhound Bus Lines. In addition, the UK retains an honorary consulate in Minnesota. The UK is Minnesota’s 10th largest export trading partner. In 2014, Minnesota firms exported $529 million worth of products to the UK. ENVIABLE BUSINESS CLIMATE Minnesota has a strong and vibrant economy, ranking No.1 in a CNBC study of America’s Top States for Business 2015. Minnesota was especially high in education, economy and quality of life.

TIRELESS WORK ETHIC Minnesota had the third-highest labour force participation rate in the country at 69.9% as of August 2015.

Minnesota was second in the country with 8,147 medical patents granted from 2009 to 2014. On a per capita basis, Minnesota entities or inventors were granted at least twice as many patents as the next closest state. IMPRESSIVE CORPORATE MIX Minnesota has a broad mix of companies, enabling the state to weather economic downturns better than other regions with economies that are more one-dimensional. The state has 17 Fortune 500 companies specialising in such areas as health care, financial services, retail and food production. The list includes Target Corp., General Mills, UnitedHealth Group and 3M. Agricultural commodities giant Cargill Inc., the largest privately held company in the country with estimated annual revenue of $135 billion in 2014, is headquartered in Minneapolis-St. Paul. TRANSPORTATION AMENITIES The Port of Duluth-Superior is the largest and busiest port on the Great Lakes, serving nearly 1,000 vessels and handling 34.5 million tons of cargo annually. The Minneapolis-St. Paul International Airport serves more than 33 million passengers a year. LIVING THE GOOD LIFE Minnesota has the fourth-lowest poverty rate in the country, according to 2014 data from the U.S. Census Bureau. Minnesota has the second-highest life expectancy in the US at 81.1 years, according to a Measure of America study. Minnesota ranks No.1 in the United States in child well-being, according to the 2015 Kids Count report. The ranking was based on economic well-being, education, health, family and community.

A+ EDUCATION Minnesota ranks second in the country for the percentage of the population aged 25 or older holding a high school diploma or equivalent (92.6%), according to 2014 data from the U.S. Census Bureau. The state also ranks 11th in the percentage of people with a bachelor’s degree or higher (34.3%). Residents enjoy a high literacy rate. A Central Connecticut State University study in 2015 ranked Minneapolis as the most literate city in the US and St. Paul as the fourth most literate. Minnesota students have led the nation in ACT college entrance exams for 10 consecutive years. Students are tested in English, reading, maths and science.

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For more information, contact: Laurence Reszetar Director, Foreign Direct Investment Tel: +1 651-259-7488 Email: Laurence.Reszetar@state.mn.us Website: www.mn.gov/deed

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Companies announced 118 expansion projects in Minnesota in 2014, committing to spending more than $779 million and creating 3,800 jobs. The companies include Andersen Corp., Cardiovascular Systems and Polaris Industries.

MATCHLESS INNOVATION

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WISCONSIN – A MESSAGE FROM THE GOVERNOR

SCOTT WALKER

OFFICE OF THE GOVERNOR STATE OF WISCONSIN Greetings, Wisconsin is a state that is well known for getting things done, and our can-do spirit spells opportunity for companies around the world looking to expand their North American presence. Centrally located in the leading manufacturing and agricultural region in the United States, Wisconsin is one of the best places for business in the country. Generations of business leaders have recognised the advantages our major ports provide, giving them quick access to markets throughout the nation and around the world. Our transportation infrastructure was built to connect businesses with their suppliers and customers. As such, goods and services produced in Wisconsin reach many markets within one day. In Wisconsin, businesses and supporting organisations work together to advance industry innovation, helping companies in both emerging and established sectors excel at what they do. We’ve established centres of excellence in water research and energy technology to answer the challenges of sustainable resource management across the globe. Our extensive network of academic institutions, as well as public-private collaboration, support a broad range of sciences including biotechnology, health care and food production. Wisconsin has also developed manufacturing strengths in growing markets such as advanced machinery and material sciences.

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Talent development has always played a crucial role in developing and sustaining Wisconsin’s industry leadership. With more than 450,000 manufacturing jobs in our state, Wisconsin has the second highest concentration of manufacturing employment in the nation at 17%. Our manufacturing job concentration is 87% above the national average. Simply put, we are a manufacturing leader, and our products, technology and knowledge is improving lives across the globe. To ensure that Wisconsin continues its manufacturing leadership, our recent state government budget has maintained and invested $100 million to worker training. We know that financial stability is important to your business. That’s why we’ve reduced the fiscal burden on companies operating in our state, so they can focus on expanding revenues and reinvesting in their business. Our fiscal responsibility and business-friendly tax policies give business owners confidence and help fuel the state’s economic engine. As a result of recent regulatory improvements designed to create and retain jobs, 91% of employers in the state believe we’re headed in the right direction. In addition to an exceptional business climate that provides plenty of opportunities for professional growth, Wisconsin provides its citizens an exceptional quality of life, with a strong educational system designed to foster tomorrow’s leaders and a health care system that is among the top in the nation. From recreational activities to cultural events, we offer something for everyone in our lively city centres, quaint towns and picturesque rural areas. I invite you to take advantage of the tools and resources available through the Wisconsin Economic Development Corporation to leverage Wisconsin’s unique economic assets. Sincerely,

Scott Walker, Governor WISCONSIN IS OPEN FOR BUSINESS WWW.WISGOV.STATE.WI.US ■ (608) 266-1212 ■ FAX: (608) 267-8983

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Wisconsin

Wisconsin’s central location, proven industry knowhow, transportation infrastructure and positive business climate combine to offer attractive investment opportunities to British companies looking to increase their US presence. STRONG BRITISH RELATIONSHIPS The United Kingdom is one of Wisconsin’s top trading partners. In 2014, imports from the United Kingdom to Wisconsin increased 16% to $337.5 million, with aircraft parts accounting a large portion of the change at nearly $100 million. Meanwhile, Wisconsin exports to the United Kingdom increased 25% in the same year to $849 million, making the country the fifth largest market for Wisconsin products.

MARKET ACCESS Goods produced in Wisconsin reach markets throughout the US in a single day, thanks to the state’s reliable transportation network designed to maximise commerce. Wisconsin’s roads, railways and ports provide seamless, convenient access to the world’s busiest multimodal transportation hub located just 55 miles south of the state’s border. Eight commercial airports serve major industrial and metropolitan areas statewide. Wisconsin is also situated on the nation’s greatest waterways and ships 39 million tons of product annually from 29 commercial ports located along Lake Michigan, Lake Superior and the Mississippi River. INDUSTRY LEADERSHIP Technological advancements made by Wisconsin manufacturers have kept the state at the forefront of industry trends, in both productivity and sustainability, particularly in sectors relating infrastructure development and health improvements: • • • • •

Food and Beverage Production Water Technology Energy, Power and Control Advanced Manufacturing Bioscience

Building upon a long history of innovation and maximising well established and versatile manufacturing supply chains, Wisconsin companies are delivering new solutions to global challenges. Businesses and supporting organisations work together to ensure Wisconsin stays ahead of industry trends. Cooperation between the state’s extensive network of academic institutions helps spur the commercialisation of new technologies in these industries as well as many others. RENOWNED RESEARCH AND DEVELOPMENT CAPABILITIES

Governor Scott Walker addresses attendees at a networking reception at the Skyloft, Milbank Tower in London.

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More than $1.1 billion in research spending takes place annually at the University of Wisconsin-Madison – the thirdhighest in the nation. The university places sixth nationally in terms of spending on science and engineering research. In addition, a significant amount of applied research takes place through independent and collaborative programmes at Marquette University, the Milwaukee School of Engineering, the Medical College of Wisconsin, throughout the University of Wisconsin System, and in private sector research facilities across the state, such as GE’s Global Design Center. These discoveries support innovation and continuous improvement in biosciences, animal genetics, medical devices and

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Wisconsin is also attracting investment from British companies seeking to expand their US presence, with more than $300 million worth of foreign direct investment projects since 2003. One such project is 4imprint Inc., the largest direct marketer of promotional products in North America, with sales of nearly $400 million. The company was founded as Nelson Marketing in Indiana in 1985 and moved to Wisconsin in 1988. In 1996, Nelson Marketing was purchased by London-based Bemrose Group plc, which was renamed 4imprint Group plc in 2000, at which time Nelson Marketing became 4imprint Inc. The company now has two facilities in Oshkosh, Wisconsin – its North American headquarters and a distribution centre – employing 650 people and serving more than 100,000 customers in the United States and Canada. The company recently received $1 million in potential tax credits to help finance a $10.8 million expansion in Oshkosh, which CEO

Kevin Lyons-Tarr identified as the best fit for the company’s growth strategy because of its history of providing outstanding customer service.

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leaders how to maximise their growth potential. To date, the 27 companies that have gone through the programme account for $65 million in cumulative revenues, 12-month growth rates ranging from 10 to 50%, 265 new jobs, 464 new business customers and numerous new financings. INCENTIVES ENCOURAGE PRODUCTIVITY Recognising the importance innovations in manufacturing play in creating a competitive advantage for the state, Wisconsin provides specific incentives to manufactures to maximise their production. Chief among them is the Manufacturing and Agriculture Credit, which virtually eliminates the tax on income from manufacturing activity in Wisconsin. When fully phased in tax year 2016, the tax credit will result in an effective corporate tax rate of just 0.4% on income from eligible qualified production activities. The Milwaukee Art Museum and historic lakefront district overlook the waters of Lake Michigan.

medicines, water technology, energy, big data modelling, rapid prototyping, advanced materials and manufacturing methods, among other areas. SKILLED WORKFORCE Underscoring Wisconsin’s manufacturing leadership is the fact that the state has the second highest concentration of manufacturing employment in the nation at 17%. With more than 450,000 manufacturing jobs in the state, Wisconsin’s manufacturing job concentration is 87% above the national average. And this strength continues to grow. From 2009 to 2014, manufacturing employment in Wisconsin grew by 7.4%. To ensure that workers in Wisconsin continue to meet the evolving needs of industry, the state has recently dedicated $150 million to workforce training.

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Wisconsin’s university system, anchored by the University of Wisconsin-Madison, supports the researchers, companies and policy makers across the state that are working together to develop new, innovative products to fulfil market needs. Approximately 240,000 students in 51 public and private universities and colleges are preparing to make strong contributions to Wisconsin’s economy.

DEVELOPMENT-READY SITES In a perfect world, new development projects would enjoy fast turnaround times, quick approvals and low risk. That perfect world exists in Wisconsin as a result of the Certified In Wisconsin® Program. The Wisconsin Economic Development Corporation (WEDC) worked with Deloitte Consulting to create consistent standards for industrial site certification in Wisconsin. Certification criteria were developed based on representative needs of advanced manufacturing projects. WEDC’s thorough review process produces detailed documentation about a site’s price, availability, utilities, access and environmental standing, allowing investors to make informed decisions. QUALITY OF LIFE Wisconsin is a place of abundant natural beauty, diverse recreational activities, world-class educational institutions, high-quality health care and unsurpassed economic opportunity. With 15,000 inland lakes, two Great Lakes, the Mississippi River, three National Park Service properties and 57 state parks and forests, Wisconsin is blessed with stunning natural resources. Wisconsin is one of the top tourist destinations in the mid-west, popular with visitors during all four of its distinct seasons.

Wisconsin was the first state to develop a technical colleges system, giving the state more than 100 years’ experience training its workforce to fulfil ever-changing industry demands. Today, the state’s highly rated technical college system helps ensure that its 340,000 students are ready to meet current and future job requirements.

Wisconsin’s towns and cities have a long history of supporting arts and cultural activities, offering visitors a variety of performing arts, events and historical sites, many stemming from the state’s settlers’ European heritage. The state also boasts top-flight professional sports teams, world class entertainment and exceptional restaurants and nightclubs.

PROVEN SUCCESS

A STRONG BUSINESS PARTNER

Further proof of the benefits of operating in Wisconsin is the state’s number-two ranking in the Dun & Bradstreet/American Express Power Index survey for scaling up companies in the mid-market sector. The survey of 19 million businesses defined mid-market companies as those with annual revenue between $10 million and $1 billion. Wisconsin’s mid-market companies are creating 92% of the net jobs in all commercially active businesses, despite accounting for less than 1% of all companies, according to the survey.

As part of the state’s commitment to helping expand business in Wisconsin, WEDC was created to provide business-focused services and resources, partnering with a network of more than 600 regional and local entities that share that commitment. WEDC provides financial and operational assistance to help businesses achieve their investment objectives.

The survey findings validate the value of Wisconsin’s Scale Up Milwaukee initiative, which aims to help entrepreneurs at all stages grow their ventures by stimulating a strong regional entrepreneurship ecosystem. Scale Up Milwaukee recently graduated its 27 company from its Scalerator programme, which offers innovative training designed to teach company

For more information, contact: Wisconsin Economic Development Corporation 201 West Wisconsin Ave. Madison, WI 53703 Tel: +1 608-210-6700 Website: www.invest.inwisconsin.com

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KENTUCKY

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Kentucky

“We are very thankful for the support we have received from Kentucky”, said Larry Schwartz, president of Diageo North America, when the company broke ground in 2014 on a full-scale bourbon facility in Kentucky called the Bulleit Distilling Company. “We look forward to a long and fruitful working relationship”. This is the kind of reaction Kentucky hears when working with international companies. Kentucky has long been a leading US state for international investment. Today, nearly 450 international facilities from 32 nations call Kentucky home. Those companies, including 27 United Kingdom-owned, employ more than 87,000 people across the state. In fact, nearly a quarter of new jobs and almost a third of new investment announced in the state last year came from internationally-owned companies. In the past five years, international projects have resulted in an investment of more than $5 billion in Kentucky and nearly 17,000 jobs. Kentucky is experiencing its most successful time ever. In 2014 the state recorded the most business investment since records began – more than $3.7 billion – and more than 350 new location and expansion projects, scheduled to create nearly 15,000 new jobs. In this time-frame, this is the highest number of new facilities per capita of any state in the United States. The bond between Kentucky and the UK is strong and continues to grow. Britain is one of Kentucky’s main business The Diageo-owned Bulleit Distillery under construction

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UK-owned companies also continue to make significant investments in the Commonwealth. In the past two years, 10 British companies have invested nearly $170 million in Kentucky. Diageo’s 1.8 million-gallon distillery – which will open in 2016 – will produce Bulleit Bourbon, as well as a number of other current and future Diageo bourbon and whisky brands. Other companies to announce recent investments include Zotefoams, Intelligrated Inc., Meggitt Aircraft Braking Systems, Aventics, Speyside Cooperage and Intertek Testing Services. KENTUCKY: A CENTRE FOR ADVANCED MANUFACTURING Kentucky is widely known for its great bourbon and awardwinning horses, but the Bluegrass State also is at the heart of some of the world’s most prominent advanced manufacturing industries. Many are surprised to learn Kentucky’s largest export industry is, in fact, aerospace. Last year, the Commonwealth exported more than $7.7 billion in aerospace products and parts – more than 25% of the state’s total exports. Pumping billions of dollars into Kentucky’s economy and providing thousands of jobs, the aerospace/aviation footprint is expanding in almost every sector, from parts manufacturing to supply, from air freight service to education and workforce development.

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KENTUCKY AND UK CONNECTION

partners as Kentucky’s exports to the United Kingdom increased by 24% last year to a record $2.3 billion. The products being shared include aerospace parts, chemicals, pharmaceuticals and medicines, beverages, motor vehicle parts and plastics. And in 2015, exports through to August were more than 30% above the same period in 2014.

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Some of the most cutting-edge aerospace technology is being developed in the Commonwealth. Morehead State University, for example, specialises in designing and building micro- and nano-satellites, extremely small satellites ranging in size from toasters to dishwashers that orbit Earth in formations. These satellites perform intricate tasks such as scanning warehouse inventory from outer space and surveying natural disasters in real time. Developers even have plans to send a satellite to the moon to search for water. Kentucky is also one of the nation’s leaders in automotive manufacturing. The Commonwealth is the third-largest US producer of light cars and trucks and number one on a per capita basis. Kentucky’s nearly 475 motor vehicle-related establishments, which include four major auto assembly plants, employ more than 88,000 people. Like aerospace, there is no shortage of success stories resonating from Kentucky’s automotive industry. Toyota has just produced its first Kentucky-made Lexus ES 350 model, the top-selling Lexus saloon in the world. Toyota is expected to produce 50,000 each year in Kentucky. Two other major vehicle manufacturers, Ford and General Motors, also recently expanded their plants. Ford produces many different car and truck models in Kentucky, and General Motors manufactures the Chevrolet Corvette.

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The rise in auto production is attracting more suppliers to the state and causing others to expand. BILSTEIN, a German company, broke ground in late October 2015 for a new $130 million manufacturing plant in Bowling Green that will employ 110 people. Kobe Aluminum, a Japanese company, is expanding its Kentucky operation, investing $57 million and adding 112 new jobs. Logan Aluminum, which already had an aluminium facility in Kentucky, is investing $50 million and adding 190 new positions to produce aluminium for the automotive industry. Kentucky-made vehicles are found on streets around the world. In 2014, the state’s motor vehicle exports exceeded $5.9 billion and were shipped to more than 100 countries, making it Kentucky’s second-largest export category. Cars and trucks are being shipped throughout Europe, Asia and the Middle East. Kobe Aluminum and Logan Aluminum’s expansions are proof of Kentucky’s growth in an industry vital to the automotive industry – aluminium. Tighter fuel efficiency requirements are causing vehicle manufacturers to expand their use of lightweight aluminium to include hoods, door panels and boots. In fact, experts say the use of aluminium Kobe Aluminum is expanding their aluminium facility in KY

sheet for vehicle bodies is projected to increase to 1.8 million tons in 2025, from 90,000 tons in 2012. The Commonwealth is reaping the benefits of aluminium’s growing popularity. According to the U.S. Geological Survey, Kentucky has the greatest capacity of any state to produce aluminium. In the past year, six companies have announced aluminium-related projects in the state, resulting in more than a half-billion dollars in new investment. The aluminium industry accounted for $2 billion in Kentucky gross domestic product and employed more than 20,000 people in 2014. LOOKING TOWARD THE FUTURE Not only does Kentucky manufacture motor vehicles and parts, it also conducts advanced research on next generation technology. Those highlights include the following: National Network for Manufacturing Innovation The National Network for Manufacturing Innovation (NNMI) is a partnership between industry, education and government to nurture manufacturing innovation and accelerate commercialisation by maximising existing resources. Through NNMI, Kentucky is actively participating in three projects of national significance. • Institute for Advanced Composite Manufacturing Innovation (IACMI) – With the need for vehicles to be lighter to meet new and rising Corporate Average Fuel Economy (CAFE) standards, IACMI is working to make carbon fibre the next big thing in the auto industry. The Carbon Materials Group at the University of Kentucky Center for Applied Energy Research (UK CAER) is the group’s primary research lab in Kentucky • Lightweight Innovations For Tomorrow (LIFT) – The focus of LIFT is to improve lightweight manufacturing technology, as well as prepare a workforce pipeline for the metals industry. The Commonwealth of Kentucky and UK are founding members of the group and assist in creating R&D and workforce opportunities • Digital Manufacturing and Design Innovation Institute (DMDII) – This federally funded R&D organisation encourages factories to deploy digital manufacturing and design technologies and develop prototypes to become more efficient and cost-competitive. The Commonwealth of Kentucky and University of Louisville (U of L) are founding members of DMDII Efficient Vehicles and Sustainable Transportation Systems (EV-STS) U of L is one of six universities involved in the planning effort to establish EV-STS, an effort to develop, advance and apply technologies to dramatically improve the energy efficiency and environmental sustainability of vehicles. The research of EV-STS will focus on five general areas of the auto industry: electrified vehicle powertrains, advanced conventional powertrains, non-powertrain vehicle systems, transportation systems and infrastructure and efficient/sustainable vehicle design and analysis tools. Kentucky-Argonne Battery Manufacturing Research and Development Center Since 2009, the Kentucky-Argonne Battery Manufacturing Research and Development Center has been working to develop new battery technologies for plug-in and hybrid vehicles. The centre conducts cutting-edge research and offers access to Argonne’s Chicago research and

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KENTUCKY

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The first Kentucky-made Lexus ES 350 to roll off the production line

development facilities. Research has now expanded to cover the development of additive manufacturing with a variety of automotive materials and components. The centre’s partners include Argonne National Laboratories, University of Kentucky, University of Louisville, Kentucky Cabinet for Economic Development, Energy and Environment Cabinet and the private sector. KENTUCKY PROVIDES EASY SHIPPING

Two global air cargo hubs (UPS and DHL), located at Kentucky’s two international airports, also give Kentucky a logistics boost, and are a main reason why the state ranks among the top places worldwide in total air cargo shipments. Both UPS and DHL have recently announced major expansions to increase capacity. DHL ships to more than 60 countries and works with more companies than any other logistics specialist. UPS delivered more than 4.3 billion packages last year and ships worldwide, including to every address in Europe and North America. Add that to Kentucky’s extensive highway, air, rail and waterway transportation systems, and it is easy to see how Kentucky businesses can successfully compete in the global marketplace. HEADQUARTERS CENTRAL Kentucky is also home to an impressive variety of corporate headquarters, including such internationally known names as YUM! Brands (KFC and Pizza Hut), Papa John’s, Lexmark, Alltech, Humana, Tempur-Pedic and Brown-Forman. While

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GREAT INCENTIVE TO DO BUSINESS Many of Kentucky’s most recent economic development successes have been made possible by the state’s Incentives for a New Kentucky (INK) programme, which offers several innovative tax incentives to businesses locating, expanding or reinvesting in the state. It also does not hurt that Kentucky’s cost of living was named the lowest in the country by CNBC, and the state’s utility costs are the lowest in the eastern half of the US. Additionally, a top business publication ranked Kentucky in the top 10 for lowest cost of labour. The bottom line is – Kentucky is a great place for international companies to grow their businesses. Whether a company is looking for a competitive tax climate, skilled workforce and training programmes, an ideal location or an unsurpassed quality of life, Kentucky offers the “can-do” business climate to help companies of all shapes and sizes succeed in the global market. For further information, contact: Finn Weisse, Director European Representative Office Kentucky Cabinet for Economic Development Poststrasse 14-16 D-20354 Hamburg, Germany Tel: +49 40 35716844 Email: finn.weisse@thinkkentucky.eu Website: www.thinkkentucky.eu

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Many factors draw businesses to Kentucky. At the centre of a 34-state area in the eastern US, Kentucky facilitates the distribution of goods and materials to a massive industrial and consumer market. The state’s borders are within a day’s drive of more than 65% of the nation’s population, personal income and manufacturing establishments.

some of these companies have grown up in Kentucky, others have been lured to the state by its favourable business climate, low energy costs, progressive incentive programmes, significant logistical and geographic advantages, superior quality of life and an exceptional labour climate.

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INDIANA

Indiana

Indiana’s pro-business climate, low taxes and central location make it one of the most attractive locations on the map to develop, manufacture and deliver products and services globally. Our probusiness environment makes it no surprise that the Hoosier state has become a magnet for job growth and new business investment. COMPETITIVE CLIMATE Known as the “Crossroads of America” and located in the heart of the mid-west, Indiana is at the junction of innovation and ability. Moreover, it has positioned itself as a low cost, high-efficiency destination for firms looking to invest in the US. Indiana’s competitive business tax structure includes a flat 6.5% corporate income tax on adjusted gross income that will incrementally decrease to 4.9% by 2021, no gross receipts tax or inventory tax and one of the lowest workers’ compensation rates in the country. Indiana also recently cut property taxes by one-third and capped taxes on all classes of property. • Indiana ranks 1st in the mid-west and 6th in the nation in Chief Executive magazine’s annual “Best & Worst States” survey (May 2015)

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• Indiana ranks 1st for Cost of Doing Business in CNBC’s “America’s Top States for Business 2015” (June 2015) • Indiana ranks 1st in the mid-west and 4th in the nation in Business Facilities magazine’s 11th Annual Rankings Report, “Best Business Climate” (August 2015) • Indiana ranks 1st in the mid-west and 8th nationally in the Tax Foundation’s 2015 “Business Tax Climate Index” (October 2014) • Indiana ranks 2nd in Regulatory Environment and 8th nationally for Best State for Business in Forbes annual “Best States for Business” listing (October 2015) •

Since 2010, Indiana has maintained a triple-A credit rating from all 3 agencies (Standard & Poor’s, Fitch and Moody’s)

• Indiana offers a full range of tax credits and incentives for relocating or expanding companies, including a refundable tax credit programme to companies that will create jobs and contribute to the state’s growth INVESTMENT LEADER Indiana is reaping the benefits of its business-friendly environment, evidenced by large investment totals from foreign companies. During 2012-2014, Indiana totalled $4.6 billion in international investment with 13,300 new jobs from international investors. The top five international investors in

Indiana are the UK, Japan, Germany, Canada and Italy. UK companies based in Indiana include, with many others, RollsRoyce, BAE Systems, Rexam, Bodycote, Tate & Lyle, Logicalis, Undersea Sensor Systems and GKN. WORLD-CLASS LOGISTICS Indiana is a centrally located leader in distribution and logistics and offers companies a strong competitive advantage when it comes to reaching North American and global markets. It has more intersecting interstates than any other state, the world’s second-largest FedEx hub and three international ports – each a foreign trade zone. Indiana’s economic climate, low business costs and world class logistics infrastructure are key factors in any successful business venture. Indiana’s efforts to improve these assets helps create a pro-business environment that nurtures ideas and companies from R&D to ROI and makes it one of the top international locations to grow a business. For further information, contact Mr Jan Wiedemann IEDC Europe – Berlin Office Martin-Buber-Straße 24 14163 Berlin, Germany Tel: +49 30-814-8842-0 Email: JWiedemann@investindiana.com Website: www.iedc.in.gov

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IOWA

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Iowa

Located in the mid-west region of the United States, an area often referred to as the “American Heartland”, the state of Iowa is comprised of 56,276 square miles of land and a population of three million people. Although small in size, Iowa’s impact on the world is large. Iowa is widely recognised for its leading position in the agricultural sector, particularly corn, soya bean, pork and egg production. As a result the state is known for its food processing industries. But Iowa’s economy is, in fact, very diversified with core strengths in advanced manufacturing, biosciences and financial services. Rockwell Collins, Google, Facebook, The Principal Financial Group, John Deere, Cargill, IBM, Microsoft and many other innovators soar as world leaders in their fields from their lowa operations. Through active support of alternative energy, the state of lowa now gets more of its electricity from wind turbines than almost any other state and ranks as the leader in renewable fuels production. lowa ranks third nationally in current wind generation output with over 5,710 megawatts installed and 3,444 turbines across the state and is first in the nation in wind generation as a percentage of total power output at 28.5%. Forty-three ethanol refineries produce over 3.9 billion gallons of ethanol and 12 refineries produce 315 million gallons of biodiesel fuel annually (lowa Renewable Fuels Association and lowa Biodiesel Board). From the centre of North America, lowa provides a strategic business location for many companies entering the US market or expanding their US presence. Business and industry exports their products and services throughout the Americas and elsewhere from lowa locations. The value of lowa exports totalled over $15.1 billion in 2014 according to the Global Trade Information Services. The UK ranks as Iowa’s eighth largest export customer. Agricultural machinery, vehicles, meat, cereals, animal feed, chemicals and electrical equipment are among Iowa’s top export categories.

“In 2014, Forbes Magazine named all of Iowa’s largest cities best places in America for businesses and careers.” tradeinvest.babinc.org

Britain’s Cobham plc has expanded its Mission Systems Division in lowa by relocating their air-to-air refuelling business from California to Davenport. ACH, an indirect wholly-owned subsidiary of Associated British Foods, operates Tone Brothers, Inc., a leading national manufacturer of spices and seasonings based in Ankeny. NCS Pearson, a division of Pearson plc, has an assessment division branch at the University of Iowa’s Research Laboratory in lowa City. GKN Armstrong Wheels, a division of GKN plc, has a wheel, clutch and gearbox manufacturing facility in Armstrong. British insurer Aviva plc’s US operations are headquartered in West Des Moines. Yellowbook, a division of Yell Group, has a regional office in Cedar Rapids. Other British investments in lowa include Alexander Technologies, Blackwell Publishing, Combicut, Cycle Force, E D & F Man Holdings, Evolution Power Tools and Wolseley plc. BEST PERFORMER In 2014, Forbes Magazine named all of Iowa’s largest cities best places in America for businesses and careers. Iowa’s capital city, Des Moines, was listed as the second best city in the country. HIGHLY COMPETITIVE Through attractive financial assistance and business-friendly government policies, lowa offers advantages that can grow revenues. CNBC’s 2014 Top States for Business survey ranks lowa in the top 12 in the nation and seventh for low cost of doing business. Iowa was the ninth most business friendly state in the nation. Six of Iowa’s nine Metropolitan Statistical Areas were included in the Top 100 Smartest Cities in the Country list (Luminosity 2013). SEEKING ASSISTANCE What companies value from working with the lowa Economic Development Authority is the expertise of experienced staff who help evaluate possible business locations/expansions, facilitate access to available state financial incentives and see to your business’s success in lowa. Our consultations are free and confidential. For more information, contact: lowa Economic Development Authority International Office/Business Development 200 East Grand Avenue Des Moines, IA 50309 Tel: +1 515-725-3000 Email: business@iowa.gov Website: www.iowaeconomicdevelopment.com

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STRATEGIC LOCATION

BRITISH-OWNED OPERATIONS

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MICHIGAN

Michigan

Michigan’s foresight and innovation is building a strong, prosperous business ecosystem that is a perfect fit for UK-based companies considering entering the North American market. The state is among the most competitive US states for overall economic health, job creation and facing 21st Century challenges:

A network of 15 public universities, 60-plus independent universities and colleges and 28 community colleges is producing the educated and skilled talent that advanced manufacturing and high-tech firms need for innovation and growth. Michigan has notably made the nation’s largest skilled trades commitment, with $50 million invested in community college skilled trades equipment.

• 13.9% gross domestic product growth in the last five years, outpacing the US rate • 420,000 private sector jobs added since December 2010 • Detroit ranks 3rd in the US as a tech jobs “hotbed” according to Oregon Bureau of Economic Analysis

More automotive research and development experts call Michigan home than any other state. The state’s engineering talent dominance, together with 5,000 industrial designers, lays the groundwork for technical and scientific innovation.

And that is just the beginning. REINVENTED BUSINESS CLIMATE Site Selection magazine ranks Michigan among the top seven states for major new corporate facilities and expansions for three years in a row. One of the catalysts fuelling this growth is a re-engineered, competitive business climate. This includes a streamlined flat 6% corporate income tax as well as elimination of personal property taxes paid on office and industrial equipment, saving businesses $500 million annually.

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Michigan is also a Right-to-Work state, which means that employees are not required to join a union. Now nearly two-thirds of Michigan businesses surveyed describe the state as having a positive business climate and would promote Michigan as a place to start a business. MANUFACTURING MIGHT Manufacturers help drive Michigan’s economy. As the home of Detroit – “the Motor City” – Michigan is the North American centre of automotive manufacturing. Global and domestic vehicle manufacturers have invested approximately $16 billion in the state in the past six years. This wealth of production capability accounts for an increase of 138,000 new manufacturing jobs since 2009. While vehicles and related parts are the leading manufacturing sector, that is not the whole story. Michigan is also a leading manufacturer of food and beverage products, chemicals, plastics, rubber, wood and furniture products. PwC recently ranked Michigan No.2 in the nation for aerospace manufacturing attractiveness. WORLD-CLASS TALENT Michigan ranks first among US states for concentration of electrical, mechanical and industrial engineers, and also boasts a 200,000-strong skilled trades workforce. The state’s 513,000 auto-related jobs represent 22% of the US automotive industry workforce.

RESEARCH AND DEVELOPMENT LEADER

Michigan R&D centres represent more than 76% of US automotive R&D spending, and more automotive-related R&D is done in Michigan than the rest of North America combined. Because of this concentration, the U.S. Patent and Trademark Office chose Detroit for its first satellite office outside Washington, DC. The region is responsible for 25% of all automotive patents – 2.5 times more of any other state. GATEWAY TO NORTH AMERICA Located within 500 miles of half of the US and Canadian population and income, Michigan is a strategic entry point to the North American market. The state has nine international border crossings, 15 major international shipping ports, four Class-1 rail systems, 19 commercial airports, and is home to the world’s busiest trade border between Detroit and Windsor, Canada. MICHIGAN ECONOMIC DEVELOPMENT CORPORATION The Michigan Economic Development Corporation (MEDC) is the state’s marketing arm, offering a number of business assistance services and capital programmes for business attraction and acceleration, entrepreneurship, strategic partnerships and talent enhancement. Working closely with local communities, MEDC will support your company’s needs by providing high quality information, services and connections for better decision making and successful project investments. For more information, contact: Paul A. Krepps Global Business Development, US, UK and France Tel: +1 517-243-0421 Email: kreppsp@michigan.org Website: www.michiganbusiness.org

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MISSOURI

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Missouri

Located in the centre of the US and bordered by eight states, Missouri is distinguished by its strategic location, its globally connected infrastructure, its solid fiscal foundation and its highly skilled and innovative talent. Most US agriculture and food production takes place in the region, and more than half of all US manufacturing employment is within 600 miles of Missouri. This is where America builds its cars, trucks and planes, and distributes goods through an interconnected network of highways, railways, airports and rivers, and Missouri leads the way with a reputation as one of the most productive and efficient automobile manufacturing hubs in the entire nation. Missouri’s central location places it within a single day’s drive of more than 50% of all US households and within two days’ drive of most major US markets. With access to nine major interstates, two airports offering international service, all Class I rail carriers and 14 port authorities, getting from there to here, and vice versa, is very cost competitive. Missouri boasts two of the largest rail terminals in the country (St Louis and Kansas City) and is one of the few states offering rail service to both east and west coasts. Missouri is one of the most logistically friendly states in the nation and has earned a growing visibility as America’s Intersection.

Other industry clusters in Missouri’s diverse economy include transportation, financial services, information technology, health services, energy and advanced manufacturing. As a Pollina Top 10 Pro-Business State for five years in a row, Missouri is able to effectively compete in all these sectors. Missouri is a fiscally sound state, and has held a AAA bond rating for more than 50 years. This state’s coordinate support and solid financial foundation reduces the risk for companies looking to invest in Missouri. The strong financial acumen in Missouri has empowered the state to become home to the third largest concentration of wealth managers in the US and two Federal Reserve Banks. Missouri’s highly skilled, experienced and specialised labour force also factors into what makes the state a business-friendly location. More than three million strong, Missouri’s workforce is larger than the entire populations of 20 other US states. But it is the quality, not just the size, of Missouri’s workforce that convinces companies to move to – and stay in – the state. But workforce is not the only draw for businesses looking to enter the US. Missouri’s competitive taxes and business costs continue to bring new business investment and expansion to the state. Companies locating in Missouri may also be eligible for Missouri Works, an economic development incentive programme designed to support companies considering Missouri for relocation or expansion. The programme includes multiple job creation categories and a mix of automatic and discretionary benefits. While it may be tempting for investors to look first to America’s familiar coastal areas, Missouri deserves a closer look. Missouri grows companies and powers innovation, while also connecting you to everywhere. Missouri is a place where companies thrive. For more information, contact:

St. Louis Gateway Arch

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Steve Johnson, CEO The Missouri Partnership 120 South Central Avenue Suite 1535 St Louis, MO 63105 Tel: +1 314-725-0949 Email: info@missouripartnership.com Website: www.missouripartnership.com

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Missouri’s unique geology also offers a cost-saving option for a number of business sectors. More than 28 million square feet of underground space in former limestone mines provides secure, climate-controlled sites for data, warehousing and more. Current tenants of the “undergrounds” benefit from constant year-round temperatures and reduced energy costs.

Missouri is a world leader in AgTech, charting new courses in bioscience, agriculture, animal health, plant science, advanced farming and food processing. Companies are located across the state, utilising the extensive talent, and top-quality farmland.

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NEBRASKA

Nebraska

Nebraska’s many qualities make it an attractive place to live, work, raise a family and grow a business. It balances and blends economic opportunity with enjoyable lifestyle choices. Some positive attributes include minimal commute times; low crime rates; low pollution ratings and high quality air and drinking water; wide-educational and life-long learning opportunities; abundant natural, recreational and arts amenities; and so much more.

The state offers a comprehensive programme of tiered tax incentives for every size business, from micro-businesses and new start-ups to large corporations. Other programmes offer a variety of assistance, including job training, internships, site and building development, research and development, and concept to commercialisation, among others.

Forbes has ranked Nebraska as the 3rd “Best State for Business” in 2015, and CNBC has ranked the state 4th “Top State for Business” in 2014.

The state’s cost of living is below the national average in primary categories including food, housing, transportation and health care. It is home to Nebraska Medicine, a company with worldwide expertise in transplantation, as well as a regional leader in oncological, cardiology and neurological services. Another premier regional facility, the Nebraska Heart Hospital is located here.

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Other rankings that recognise Nebraska as a great place for working and living. The Pollina Corporate 2014 Real Estate Study ranked Nebraska as 3rd “Top 10 Pro-Business State;” CNBC rated Nebraska as 3rd “Top State for Business Friendliness” in 2014; Bankrate.com ranked Nebraska as 6th “Best State to Retire” in 2014; and MoneyRates.com touted Nebraska as 3rd “Best State for Young Adults” in 2014; among many other top rankings. The state is situated at the geographic centre of the US, making it an exceptional location for transporting goods and services to all major US markets within one or two days and at the very outer reaches, three days at the most. In one day, goods shipped by road hauliers reach 26% of the US. When adding a second day, this skyrockets to 91%. Its key mid-US NAFTA Trade Corridor location is also ideal for companies that rely heavily on trade with both Canada and Mexico. Nebraska is well positioned for international trade. The operator of the largest Class I route network in the US, Union Pacific Railroad, not only has its headquarters in Omaha, Nebraska, but operates a main line across the state, thereby serving the busiest freight corridor in the world. Trains travel to and from West Coast ports daily with containerised and bulk cargo. “Nebraska’s industries of transportation and logistics; biosciences that include ethanol and renewable fuels generation; financial services; manufacturing and valueadded agriculture are especially key to our economic growth and sustainability”, said Joe Chapuran, International Business Manager with the Nebraska Department of Economic Development. “Additionally, more international companies are becoming aware of and interested in locating facilities in Nebraska based on our many advantages”.

Nebraska also boasts ample, cost-efficient energy and one of the most sophisticated telecommunications infrastructures in the country thanks in large part to it being home to Offutt Air Force Base in Bellevue, Nebraska. Many data centres have located throughout the greater Omaha area due to the extensive telecommunications capacity.

Wages and salaries in Nebraska compare very favourably with other states when adjusted for the cost-of-living benefits found here. Nebraska also prides itself in offering outstanding educational opportunities. The state’s student-to-teacher ratio and high school graduation rate rank among the best in the US. A higher percentage of Nebraska’s high school students than the national average opt to take the ACT and SAT college aptitude tests and consistently score in the top quadrant. The state is also working with its community colleges to provide technical and skilled training courses targeting more specialised vocations in science, technology, engineering and mathematics. Nebraska offers an abundance of opportunities for entrepreneurs, CEOs, students, families, retirees – the advantages for living, working and doing business here are endless. For more information, contact: Joe Chapuran, International Business Manager Nebraska Department of Economic Development Tel: +1 402-658-1138 Email: joe.chapuran@nebraska.gov Website: www.neded.org

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NORTH DAKOTA

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North Dakota

North Dakota, with its growing economy, budget surplus and diverse natural resources, is one of the best locations in the US for new and expanding businesses. The state has a reputation for supporting businesses and entrepreneurs and works closely with overseas interests to make the transition to the US an easy one. Global companies such as Microsoft, Caterpillar, Deere & Company, United Technologies, Archer Daniels Midland, Cirrus Design, Case New Holland, Iberdrola, Doosan/Bobcat, Cognizant, Buhler, Amazon.com, Cargill, Monsanto and Northrop Grumman have growing operations in North Dakota. They recognise the state for its stable tax and regulatory climate, secure location, highly educated and productive workforce, abundant tax and business incentives and low employee turnover. North Dakota offers a number of competitive advantages:

WORKFORCE ADVANTAGE • Among the top five states in the nation for fewest poor physical health days – just 2.8 days out of the previous 30 • Less than 8% turnover rate in manufacturing industry • More than 50% of North Dakota’s 25 to 34 year-old population has associate degrees or higher – 10% above the national average • North Dakota ranks No.2 in the nation in the percentage of Science, Technology, Engineering and Mathematics (STEM) degrees awarded • Right-to-work state • Aggressive long-term workforce enhancement and recruitment programmes to provide a reliable pipeline of talented workers to continue fuelling business growth COST ADVANTAGE • Significant property tax exemptions, including no personal property tax

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• Corporate income tax lowered in 2013 from 5.15% to 4.53% • Corporate income tax exemptions for up to five years for new and expanding manufacturers • Sales and use tax exemptions on manufacturing/computer/ telecommunications equipment, water, electricity and interstate communications for technology-based business • Wide range of financial incentives and easy access to local financing institutions • Numerous grants, low-interest loans and training programmes • Job training and workforce development assistance • Lowest workers compensation premium rates in the US For more information, contact: Paul Lucy, Director Economic Development & Finance Division North Dakota Department of Commerce 1600 E Century Avenue, Suite 2 PO Box 2057 Bismarck, ND 58502-2057 Tel: +1 701-328-5300 Email: plucy@nd.gov Website: www.ndbusiness.com

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• Reliable, low-cost energy • Typically ranked No.1 in the US in the production of 10 different agricultural commodities • Ranked as the No.1 Growth Performer State since 2000 by the U.S. Chamber of Commerce • Ranked No.1 as Best States for Young Adults • Ranked No.2 in the US as the Most Competitive State by the Beacon Hill Institute • Ranked No.2 Best State for Business by Forbes Magazine • Designated as an EB-5 (Green Card) regional centre for foreign investments • Easy access to local, state and federal officials

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OHIO

Ohio

Ohio is at the heart of the United States placing it within a one-day drive of 60% of the US and Canadian populations. It is a state led by a business-minded governor focused on cultivating a robust business climate that begins with having the lowest tax rate in the mid-west on new capital investment and amplified by a common sense regulatory approach so businesses can thrive. All businesses in Ohio benefit from reduced expenses and are taxed at the same low rate. BUILT-IN BENEFITS TO LOCATING YOUR BUSINESS IN OHIO Ohio is home to five economic game changers that McKinsey & Company named as the economic drivers for the next 10-20 years: big data, knowledge-intensive manufacturing, shale energy, infrastructure and talent. These game changers work together to have an exponential and integrated impact on economic growth, and they all call Ohio home. Ohio’s many benefits also include a:

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• Diverse economy represented by strong industry sectors. Ohio’s total economic output of $583 billion in 2014 was divided across multiple industries with significant production in durable goods, energy production and technology and medical advancements • Central location with a strong logistics infrastructure that is within 600 miles of 60% of US and Canadian manufacturing and populations. This proximity to major markets has attracted companies from more than 40 countries • Ready workforce of nearly 6 million Ohioans and worldclass education and training. Improved productivity, quality and profits through access to a talented workforce and high concentration of top universities and technical schools • Multitude of vibrant and affordable cities and towns. Big-city amenities – without the long commute and highcost of living – make Ohio one of the most liveable states in America As a US and international manufacturing leader with the seventh largest US economy, Ohio has a diverse set of industry sectors and a total economic output of $583 billion. Ohio has a comprehensive distribution network that provides the most affordable choice for your manufacturing, shipping, and sales operations in North America. Domestic and international companies alike have placed Ohio at the top of the list because of its access to corporate manufacturing customers, suppliers and joint partnerships.

Investing in Ohio is faster and easier than ever due to JobsOhio, recent tax reform and partnership opportunities. JobsOhio is a private, non-profit corporation designed to drive job creation and new capital investment in Ohio through business attraction, retention and expansion efforts by working with job creators to find the partners, sites and financial resources they need to be successful. Recent tax reform to eliminate Ohio’s tax on profits – the corporate franchise tax – as well as the tangible personal property tax on machinery and equipment, inventory and furniture and fixtures has played a role in the state’s recent success. The reform also cut personal income taxes and eliminated taxes on capital investment, inventory and sales of goods and services to customers outside of Ohio. By instituting a broad-based, low-rate (one-quarter of 1%) tax on business receipts, Ohio is now one of the most progressive and profitable states in which to do business. Ohio also continues to be highly involved in supporting research at its universities and investing in technologies that will stimulate innovation and economic growth in many of the state’s core business sectors. Thanks to a stable and flourishing economy – powered by the five economic game changers – and a pro-business environment, Ohio is the best choice for companies with a higher standard of performance. The future is happening in Ohio. Get there first. For more information, contact: JobsOhio 41 South High Street, 15th Floor Columbus, OH 43215 Tel: +1 614-224-6446 Email: contact@jobs-ohio.com Website: www.jobs-ohio.com

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CITY OF MENTOR, OH

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Mentor Means Business

Until recently, the City of Mentor (Ohio) has been a well-kept secret among UK investors seeking to do business in the United States. That is all about to change as you are sure to hear more about this affluent US suburb in the future. The acquisition of Synergy Health plc (LON:SYR), a Swindonbased provider of sterilisation services in October 2014 by Mentor-based STERIS made international business news. The new company is expected to achieve annual revenues in excess of $2.6 billion upon final approval of the sale. Another UK-owned company which calls Mentor home is Volk Optical, a subsidiary of Halma plc (LON: HLMA). Volk is the world’s leading designer and manufacturer of ophthalmic lenses for use in diagnosis and treatment of eye disorders. German-based ACO Polymers recently moved their north east Ohio operations to Mentor due to the attractive investment incentives provided by the city. And these are only a few examples. Among the nearly 300 firms based in Mentor, no less than a dozen are owned by foreign interests who have discovered that international investment is not only welcomed, but valued.

In 2013, the city developed the Mentor International Trade Initiative as a support structure to those companies relocating to Mentor in order to help them maximise the results of their investment. This innovative trade programme provides direct staff assistance on import/export compliance, planning, finance and job training to companies doing business in the city. The programme also offers direct access to NAFTA Trade Partners as well as an available Foreign Trade Zone designation. Mentor is a manufacturing leader in the state of Ohio with a strong concentration of research and development, engineering and metalworking firms serving the advanced

“Mentor is a beachfront community that provides a great quality of life.” tradeinvest.babinc.org

The city is strategically located on the shores of Lake Erie approximately 24 miles by road from Cleveland, Ohio which places it within 500 miles of 50% of the US population. The city benefits from a substantial transport infrastructure which includes two major railways, two major interstates and a nearby international airport as well as the deep-water Port of Cleveland. One key reason that foreign investors are coming to Mentor is that it is less expensive to do business there. Companies are able to find top-level talent and enjoy significant savings in operating costs due to the low overall cost of living in the area. Rates for professional services can also run as much as 40% below what is found on the east or west coast. Another element which makes Mentor attractive to foreign investment is that it serves as a gateway to Ohio’s innovation corridor which is home to world class educational, research and medical institutions including Case Western Reserve University, NASA Glenn Research Center, the Cleveland Clinic, University Hospitals and the Edison Biotechnology Center. The city is well positioned with manufacturing capacity which can support industrial investment. Mentor has ten industrial parks and over 3,200 acres zoned for manufacturing use. Available Greenfield sites range from 5 to 50+ acres, in addition to a full range of facilities available for immediate occupancy. Mentor maintains a skilled and stable workforce. Residents are more highly educated, enjoy a higher median income, and have a higher home ownership rate than both the US and Ohio average. Mentor Public Schools are highly effective and nationally recognised. There are also a number of local technical training facilities dedicated to advanced manufacturing and engineering technology. Last but not least, Mentor is a beachfront community that provides a great quality of life. It offers affordable housing, scenic natural beauty, diverse outdoor activities, outstanding recreational facilities, as well as good shopping and dining options – not to mention regional attractions which include a world class orchestra, museums, professional sports teams and much more. As you can see, Mentor truly is a strategic location where global companies succeed. If you are interested in expanding into to the US market, you are invited to learn more at www.mentorglobal.trade.

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Mentor is an invested civic partner which offers generous direct financial incentives that lower the cost of doing business through a variety of attractive economic incentives which include tax abatement, tax credits, direct grants, infrastructure improvements and public financing.

manufacturing, aerospace, polymer and biomedical industry clusters. They also have an established vendor base and distribution network which makes it easier to do business within the area.

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South Dakota

South Dakota is the home of unsurpassed beauty and a business climate you will not find anywhere else. Study after study ranks South Dakota as one of the best states in the union to do business and as one of the highest qualities of life. EDUCATION When it comes to education “South Dakota Students Shine”. In 2014, our students received the nation’s fourth best SAT scores. Our K-12 student/teacher ratio ranks among the top and we offer students a whole host of secondary education opportunities including public and private universities, technical schools and other customised training programmes. In addition, South Dakota is one of the only states that provides free tuition to students who are pursuing education in select technical fields thanks to the newly established Build Dakota Scholarship. TRANSPORTATION South Dakota is ideally located for prompt distribution of goods and services throughout the US. Our air, freight and rail systems provide quick, efficient delivery to all major points in the country. TAXES AND BUSINESS CLIMATE

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South Dakota is home to America’s most famous “great faces” – those found on Mount Rushmore National Memorial. It is also home to many companies that are experiencing “great profits” as a result of the state’s outstanding business climate. South Dakota is the only state in the nation that has no corporate income tax; no personal income tax; no personal property tax; no business inventory tax; and no inheritance tax.

SD Tourism

We understand that you need the most advanced technological infrastructure available to compete in today’s market place. We understand that you need employees that are trained and ready to work. We understand that when Main Street Square, Rapid City

you make a profit, you should keep that profit. And, in South Dakota you will do just that with the 3rd lowest cost of living in the nation and the 2nd best business tax climate. We were recently ranked the Best Run State in the US. KEY INDUSTRIES South Dakota is a great place for any type of business to grow and prosper. However, we have found South Dakota is especially well suited to companies in the following industries: • Advanced manufacturing • Bioscience • Financial services • Energy • Professional business services • Shooting, hunting and outdoors • Value-added agriculture QUALITY OF LIFE From a business perspective, it is hard to argue with the benefits in South Dakota, but also we believe that our quality of life is the best in America. TOP QUALITY LABOUR FORCE South Dakota has long been known for its high-quality labour force. Our people learned how to work on the farm and then took that work ethic to the factories, the processing plants and the service centres. Our companies find an absenteeism rate that is low and employee loyalty that is high. South Dakota’s high-school graduation rates are the 14th best in the country. In addition to quality, South Dakota can also offer quantity. Where there are quality jobs, there are top quality South Dakota workers. South Dakota is as diverse as its almost 850,000 people. From outdoor activities to art galleries and museums, to professional sporting events, this region offers it all. South Dakota’s labour force is ingrained with the renowned mid-western work ethic. Our people are dependable, prepared, productive and ready to work. South Dakotans rank 6th lowest in filing for bankruptcy, hold the 4th highest credit scores, and are 7th highest in volunteerism. For more information, contact: Governor’s Office of Economic Development 711 East Wells Avenue Pierre, SD 57501 Tel: +1 605-773-3301 Email: goedinfo@state.sd.us Website: www.sdreadytowork.com

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ARIZONA

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Arizona

Arizona, world renowned for its diverse natural beauty and gorgeous weather, also provides one of the best climates in the nation for businesses to start, expand, relocate and thrive. Arizona’s pro-business policies reflect a statewide commitment that puts business first, with unrivalled economic benefits, including substantial tax credits and reductions. Arizona’s strengths in key, high-value industries including aerospace and defence, bioscience and health care, information technology, manufacturing, and renewable energy make it a competitive player in the global economy. ACCESS TO MAJOR WORLD MARKETS Arizona is strategically located in the south west of the United States, immediately accessible to three major economies – California (8th), Mexico (14th) and Texas (13th). Major road and rail routes connect Arizona directly to major markets in the south west. Trucks from Arizona reach 65 million people within one-day’s drive. Arizona’s airport network, include Phoenix Sky Harbor International Airport and Tucson International Airport. Together, carriers serve more than 103 cities with non-stop flights, including a daily service from Phoenix to London Heathrow. LOW COST OF DOING BUSINESS Arizona has helped to reduce the cost of doing business with policies designed to spur growth, streamline regulations and create a suite of incentives to support corporate growth and expansion. In addition, our tax rates are among the lowest in the nation and our corporate income tax rates will shrink to just 4.9% by the year 2017. Competitive advantages: • • • • •

State sales tax rate of 5.6 to 9% Right-to-work state (low union activity) Low workers’ compensation insurance rates No franchise, business inventory or estate taxes Favourable unemployment insurance

STREAMLINED REGULATIONS Arizona has created a business-friendly environment by cutting red tape and repealing overly burdensome regulations. Changes like right to work laws, a streamlined tax collection system and simplified processes for tax licenses, returns and audits. Ongoing tort-reform initiatives restrict class-action lawsuits and ban certain types of punitive damages. ADVANCING TECHNOLOGY

Arizona’s growing portfolio of large technology companies includes Apple, Avnet, Insight, Intel, Garmin, Revel Systems, Microchip, Freescale, Honeywell, Raytheon, JDA Software, Go Daddy and more, as well as a pipeline of emerging

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SKILLED AND AVAILABLE WORKFORCE Arizona attracts a young, well-educated and skilled workforce with a large concentration of science and technology talent from Arizona State University, University of Arizona and Northern Arizona University. Arizona is among the 10 youngest populations in the US and has some of the lowest labour costs in the nation. EXCEPTIONAL QUALITY OF LIFE Arizona offers a diverse cultural heritage and unmatched standard of living. With 300 sunny days a year, renowned natural beauty, and seven professional sports teams, there is always something to do. Outdoor enthusiasts will find the state ripe for recreational pursuits and world-class resorts offer a vibrant shopping, dining and nightlife experience. INCENTIVES AND TAX CREDITS • Quality Jobs: Provides up to $9,000 of income or premium tax credits over a three year period for each net new quality job • Qualified Facility: Provides refundable income tax credits to eligible companies investing in qualifying facilities and creating jobs • Research and Development: Provides income tax credits for increased R&D activities conducted in the state • Foreign Trade Zone: Provides up to a 72% reduction in property taxes for property in an FTZ • Military Reuse Zone (MRZ): Provides tax credits, property tax reductions and TPT exemptions • Private Activity Bonds: Bonds issued by or on behalf of a local government to provide financing for private and public projects • Renewable Energy Tax Incentives Programme: Provides refundable income tax credits to companies investing in renewable energy industries • Commercial/Industrial Solar: Provides income tax credits for the installation of solar energy devices at Arizona business facilities • Arizona Job Training Programme: Provides job-specific reimbursable grants to support the design and delivery of customised training plans for employers For more information, visit www.azcommerce.com or call +1 602-845-1200

WESTERN REGION

With a focus on innovation, R&D and next-generation advancements, Arizona is poised for continued growth and strong economic performance in high-tech industries. Major employment sectors include electronics, semiconductor manufacturing and aerospace and defence.

technologies stemming from state universities. Arizona is an ideal base for companies that service clients worldwide. That access is one reason Avnet, one of today’s largest businessto-business distributors of electronic components and systems, moved to Phoenix.

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CALIFORNIA

California As the eighth largest economy in the world, California remains a global economic leader and is a national leader in job creation. CALIFORNIA BY NUMBERS • California has added more than 1.8 million private sector jobs since February 2010, more than any other state. • The state is home to more venture capital, patents, tourism, Fortune 500 companies, agriculture, biotech and manufacturing output than any other state • The state unemployment rate has declined to its lowest point in 6 years – 6.1% • Job growth has been led by strong gains in construction trade and transport, retail, agriculture, bio and high tech • The manufacturing industry has added jobs for three straight years. The first time the state has had consecutive years of manufacturing job gains in over a decade • California’s gross state product is over $2.396 trillion and the state is once again the 8th largest economy. MULTIPLE LEADING SECTORS Where other states have one or two main economic sectors, California has several – all of which lead the nation. California is first in high-tech, biotech, agriculture, entertainment, manufacturing, tourism and more. RECORD EXPORTS In trade, California merchandise exports grew to $174.1 billion in 2014 – a record export high for the state. California is the No.1 state for tourism – one that boasted over 200 million visitors in 2014 with direct travel spending of more than $117.5 billion. BALANCED BUDGETS IMPROVE CALIFORNIA’S CREDIT RATING In a landmark for the state, California ended 10 years of budget deficits as Gov. Brown not only signed his fourth consecutive balanced budget but one that included more than a billion dollar surplus. As a result, ratings services Fitch, S&P, and Moody’s have all upgraded California’s General Obligation ratings. INCREASING FOREIGN INVESTMENT

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Gov. Brown led a trade mission to Mexico where he signed first of their kind agreements with the Mexican government to increase trade and investment. Gov. Brown also welcomed Israel Prime Minister Netanyahu to California to sign an agreement to bring more Israeli companies to California and share information on water technology and cybersecurity. It was the latest in a series of significant initiatives from Gov. Brown including worker’s compensation reform, pension reform and regulatory modernisation. NEW BUSINESS INCENTIVES Gov. Brown has enacted a new economic development initiative creating a more flexible, more competitive set of economic development tools that includes a Sales and Use tax exemption for manufacturing, biotech and R&D equipment; a Hiring Credit; a targeted Film & TV Tax Credit, and the CA Competes Tax Credit designed to incentivise companies to locate or expand in CA.

INNOVATION AND HIGH-TECH The state is a leader in innovation and supports creativity with a superior educational system and job training that produces an unrivalled, highly-skilled labour force. With 2.4 million students enrolled in 446 public and private colleges and universities producing over 200,000 college graduates every year, California possesses the nation’s highest concentration of engineers, scientists, mathematicians and skilled technicians. High-tech exports total $42.7 billion, accounting for nearly 18% of the state’s annual exports. GO-Biz launched the California Business Portal, an online onestop for business owners that provides information on permits, guides on starting a business, incentives, regulations and more. Check it out here: www.businessportal.ca.gov RENEWABLE ENERGY California is a global leader in renewable energy policy. Gov. Brown enacted the nation’s most aggressive renewable energy goal in the US – 33% of the state’s electricity will come from renewable sources by 2020. ASSISTANCE FOR SITE SELECTION Firms looking to relocate or expand in California can contact the Governor’s Office of Business and Economic Development (GO-Biz).This programme serves as the state’s single point of contact for economic development specialists advising on site selection, permit streamlining, clearing regulatory challenges, small business assistance and international trade development. In addition, GO-Biz provides no-fee, tailored site selection services to employers, corporate real estate executives and site location consultants considering California for business investment. In addition GO-Biz provides assistance with navigation and eligibility of the State’s incentive programmes. LIFESTYLE Anyone in the UK who has seen a movie or watched television will have a grasp of the California lifestyle. From ski slopes to beaches, the Golden Gate Bridge to the Redwoods, from a party to a quiet dinner, California offers a lifestyle that few other places in the world can match. For more information, contact: Governor’s Office of Business and Economic Development (GO-Biz) 1325 J Street, 18th Floor, Sacramento, CA 95814 Tel: +1 877-345-4633 Email: GOBizBusinessHelp@gov.ca.gov support@go-biz.desk-mail.com Website: www.business.ca.gov

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COLORADO

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Colorado

Over the past decade, Colorado has undoubtedly earned a reputation as one of the best locations to start and grow a business, as well as live. In 2013, Colorado was ranked the second best state to start a business by Entrepreneur. Denver, Colorado’s state capital, was also the top-ranked city for business and careers by Forbes Magazine in 2015. Colorado’s central location, international airport and modern infrastructure allow for favourable access to all regions in the United States, making it a premier place to do business. BUSINESS-FRIENDLY ENVIRONMENT Colorado currently operates under one of the most liberal tax structures in the nation with a 4.63% corporate income tax and 2.9% sales tax. A fair and accessible regulatory environment, access to capital and low business costs contribute to Colorado’s favourable business climate. HIGHLY EDUCATED WORKFORCE Ranked third in the nation for percentage of residents with a bachelor’s degree, Colorado continues to supply a highly educated, proficient workforce. Our highly skilled and educated workforce is ready to step up to the growing demands of today’s economy. FERTILE GROUND FOR INNOVATION In Colorado, citizens are rewarded for innovative, forward thinking. Collaboration by business leaders in key industries, such as science and technology, allows for the flow of capital and investment to help grow jobs and cultivate an atmosphere of innovation. Also, Colorado is ranked third in the nation in concentration of high-tech workers. ADVANCED INDUSTRIES IN COLORADO

Aerospace Colorado has the nation’s second-largest aerospace economy and is home to four military commands, eight major space contractors and more than 400 aerospace companies and suppliers. The University of Colorado ranks as among the top NASA-funded universities, displaying a culture of dedication to aerospace.

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Energy & Natural Resources Thanks to the collaborative efforts of industry and the environmental community, Colorado now has the country’s strongest public disclosure rule on the process of hydraulic fracturing technology. The new Colorado Energy Office will promote all types of energy that protect the environment, lower consumer costs and increase energy security, with a focus on long-term energy projects that have broad job creation potential. Furthermore, Colorado was the first state to pass a voter-approved renewable energy standard that sets a goal of using 30% renewable energy by 2020. Infrastructure Engineering Colorado is home to thousands of highly trained engineers who work on major civil, commercial and environmental projects serving the needs for secure water, energy and ecosystems, as well as major stadiums and venues. Technology and Information More than 300 electronics R&D, manufacturing and distribution companies in Colorado provide products, components and services to a wide array of commercial and industrial sectors. The state’s annual high-tech exports total more than $2.9 billion. UK BUSINESSES IN COLORADO Companies like Aggregate Industries, BP, BAE Systems, Balfour Beatty, BMT Group Limited, Electrocomponents, Tomkins, Ikon Science Limited and Vodafone have already discovered Colorado’s pro-business environment and unsurpassed quality of life. For more information, contact: Colorado Governor’s Office of Economic Development & International Trade 1625 Broadway, Suite 2700 Denver, Colorado 80202 Tel: +1 303-892-3840 Email: stephanie.dybsky@state.co.us Website: www.AdvanceColorado.com Twitter: @ColoradoITO

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Advanced Manufacturing Colorado’s advanced manufacturing industry is diverse and geographically disbursed across the state, with more than 5,900 manufacturing firms, over 120,000 employees, and $16.3 billion in annual economic output. Colorado’s highly innovative manufacturers serve industries from electronics and consumer products to cleantech, medical devices and even aerospace vehicles.

Bioscience Colorado has developed several programmes to help bioscience companies thrive. Recent legislation renewed a $25 million grant programme for technologies licensed out of Colorado research institutions, as well as additional funding to further support early stage businesses and their projects. The state ranks second among the second-tier bioscience states and fourth on the state technology and science index.

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IDAHO

Idaho Idaho’s economy is ACCELERATING. Over the last few years, the state has delivered more opportunities than ever for existing Idaho companies and those new to our state to thrive. Idaho has long been home to a host of national and international companies, spanning manufacturing, recreation technology, food production, aerospace and high-tech. Among the most well-known are JR Simplot Co, URS, Micron Technology Inc. and Chobani. Idaho is also home to a large research facility for Hewlett Packard together with a research arm for Microsoft. On 1st July 2014, the Idaho Tax Reimbursement Incentive (TRI) went into effect. This performance-based incentive features a tax credit of up to 30% for up to 15 years on new state tax revenues generated by companies seeking to expand in or relocate to the state of Idaho. During the first year, the Idaho Economic Advisory Council approved 16 TRI projects with a total of 3,177 new jobs projected to be created throughout the state. Companies like SkyWest, Amy’s Kitchen, Glanbia and Fabri-Kal have taken advantage of the incentive. Idaho consistently receives national and international attention as we continued to land in the top 10 of several key rankings for business friendliness, economic strength, and job growth. Some recent rankings include third in Top 10 States Seeing the Fastest Job Growth in 2015 by Kiplinger, sixth for Best States to Start a Small Business by Entrepreneur Magazine, and sixth in Best Economic Outlook in 2015 by the American Legislative Council. BUSINESS FRIENDLY ENVIRONMENT The state has a business friendly environment and has a stable economic climate. Idaho is required to have a balanced budget and did not encumber debt loads like many other states during economic recession. This allows Idaho to offer a stable tax environment, which moves efficiently to meet your business needs. Programmes are in place to help new and existing businesses expand or relocate. The state also offers incentives for buying machinery and equipment, hiring employees and building facilities. Idaho also has a long history of international trade activities. With overseas trade offices in Taiwan and Mexico, we are able to help Idaho-based companies break into further international markets, as well as connect with overseas companies to encourage investment and growth in Idaho.

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INNOVATION Idaho is well versed in innovation and is seeing consistent growth in both the high-tech and software industries around the state. Philo Farnsworth of Rigby is credited with the first electronic television set, and J.R. Simplot is well-known in America as the man behind frozen French fries. Idaho’s inventors have been able to harness brilliant ideas to change the world. That still holds true today. Idaho is home to the only US-based memory chip maker, Micron Technology, and is the centre

of Hewlett-Packard’s highly profitable Imaging and Printing Group, which introduced the HP LaserJet printer. Idaho’s research universities positioned around the state feed into the technology and innovation industry, in which nearly 50,000 people work. The companies continue to push technology boundaries, launch start-ups and fuel further growth and discovery. Technology and innovation are strong drivers of Idaho’s economy. Perhaps that is why the number of high-tech companies in the state grew 61% over the past decade. SKILLED WORKFORCE Many companies cite Idaho’s loyal, educated and skilled workforce as one of the reasons they locate here. Idahoans have a strong work ethic that comes from loving where they live and understanding the value of working hard. Companies are able to recruit skilled workers from inside and outside the state because of the quality of life in Idaho. Partnership between Idaho’s Universities and its industry leaders continue to help create a highly skilled workforce. QUALITY OF LIFE Idaho’s beauty, recreational opportunities and family-friendly environment provide a quality of life that draws and keeps people in the state. The state is the north west’s best-kept secret for recreation, culture and adventure, without heavy traffic or budget-breaking prices. Did you know that Idaho has more whitewater river miles than any other state in the lower 48? Living and working in Idaho is a one-of-a-kind experience. It boasts the lowest cost of living in the western states and, with an average commute time of just under 21 minutes, Idahoans get to work, home and the outdoors faster than anyone in other western metro areas. Residents are able to easily enjoy both city and country life – from fly fishing and skiing to the Idaho Shakespeare Festival and numerous symphonies. PROPERTY SEARCH Idaho has made site selection easier with an interactive programme called Gem State Prospector. The programme enables users to search for appropriate land or buildings for purchase or lease, together with demographic and marketing information about locations (www.gemstateprospector.com). For more information, contact: Idaho Department of Commerce 700 W. State St. PO Box 83720 Boise, ID 83720-0093 Tel: +1 208-334-2470 Email: info@commerce.idaho.gov Website: commerce.idaho.gov

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MONTANA

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Montana

Montana, also known as the “Treasure State” due its rich stocks of natural resources, has weathered the Great Recession better than nearly any other state in the US. Montana is one of only two states that has constantly maintained a budget surplus and has an unemployment rate 2 points lower than the national average. But it is not only natural resources and agriculture that drive Montana’s economy, as tourism, information technology, advanced manufacturing firms have increasingly begun to call Montana home. Unique to the United States, Montana has no sales tax and is consistently rated as one of the best states for businesses. In fact, Montana was recently ranked as the top state in the nation for entrepreneurs with a positive business climate that fosters growth and promotes innovation. But it is Montana’s quality of life that truly sets it apart; safe communities, excellent schools and unparalleled recreational opportunities are just a few of the reasons businesses are choosing to locate in Montana. Montana is a rural state but has excellent and improving business infrastructure for rapidly moving people, goods and information to markets in the US and around the world. Montana’s vast energy resources including hydroelectric power, wind energy, oil, natural gas and coal have not only provided opportunities for economic development but have led to the 5th lowest industrial electric rates of any state in the nation. Numerous global companies have chosen to locate in Montana including Boeing, Oracle, ExxonMobil and AMEC Geomatrix. Billings Refinery

CORPORATION LICENCE TAX The corporation licence tax is a franchise tax levied on corporations for the privilege of doing business in Montana. The rate of the tax is 6.75% and is calculated on net income earned in Montana. TELECOMMUNICATIONS Montana has made several upgrades in its telecommunications infrastructure over recent years and your business can profit. Web-based companies with international footprints are successfully growing in communities throughout Montana. NATURAL RESOURCES Montana is a state defined by its natural resources. The state’s motto is “Gold and Silver”, and it is known as the “Treasure State”, both phrases illustrating the importance of natural resources to the state’s history, identity and economy. With the Rocky Mountains to the west and the Great Plains to the east, today the majority of Montana’s foremost industries thrive on the state’s natural resources. ENERGY DEVELOPMENT Montana’s world class energy resources – wind, oil and gas, biofuels, biomass, coal and more – are second to none in the United States and provide us with the opportunity to help the nation wean itself from foreign oil while creating economic growth opportunities here in Montana. We can provide a good share of the energy resources America needs in a manner that respects and protects the wild places that make Montana so special. TRANSPORTATION There are more public road miles in Montana than Interstate miles in the entire US. Over 82% of all manufactured goods are moved in and out of Montana by truck, 93% of Montana’s agricultural products are shipped out of state by rail. Montana has 15 state-owned airports, 118 public-use airports and over 350 private-use airports. RAILROAD

For more information, contact: Governor’s Office of Economic Development PO Box 200801, Helena, MT 59620-0801 Tel: +1 406-444-5634 Email: business@mt.gov Website: www.business.mt.gov www.innovatemontana.com

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WESTERN REGION

Montana’s rail system includes approximately 3500 miles of track and is served by two major rail companies, Burlington Northern Santa Fe (BNSF) and Union Pacific. BNSF has 2135 miles of track and has transported 1,570,046 carloads across Montana in a single year.

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NEVADA

Nevada

Nevada may be known for its hospitality industry, but there is much more to the Silver State than the Las Vegas Strip. Nevada is home to many industryleading companies in multiple sectors – Apple, Microsoft, Barrick Gold, Ormat, Cenegenics, Sierra Nevada Corporation, Amazon, Lockheed Martin and many more. Given the presence of such heavyweights, Nevada’s business-friendly climate is now more visible to business owners both across the US and the world. According to The Tax Foundation, a non-partisan research association that monitors fiscal policy, the business tax climate in Nevada scores among the most favourable in the US. The Nevada Governor’s Office of Economic Development (GOED) has made increasing the State’s global presence one of its top priorities and a number of tools have been employed to achieve this goal, including Governor-led trade missions with business and education leaders. As a result Nevada-based businesses have entered into export partnerships with overseas distributors and Nevada’s System of Higher Education has collaborated with education and research institutions across the world to develop courses supporting the State’s targeted industries: aerospace and defence; healthcare; agriculture; energy; mining; information technology; logistics and operations; manufacturing, and tourism and gaming. There have been significant economic development efforts in these targeted industries, notably Unmanned Aerial Vehicles (UAVs), indoor agriculture, Information Technology and healthcare.

WESTERN REGION

UNMANNED AERIAL VEHICLES The State of Nevada is the birthplace of Unmanned Aerial Systems (UAS) and is becoming a global leader in UAV R&D, testing and management applications. Nevada has moved forward in further developing this sector for increased global engagement by signing a Memorandum of Understanding with the Province of Alberta, Canada to enhance the R&D opportunities. Furthermore, the Nevada System of Higher Education is preparing for the increased demand on the workforce through the University of Nevada Las Vegas operating a fleet of robust UAV platforms, the University of Nevada Reno launching a minor in UAS, and the Desert Research Institute utilising UAS for their environmental research. INFORMATION TECHNOLOGY AND TECHNOLOGY COMMERCIALISATION With an unparalleled digital infrastructure, low rating for natural disasters, and an abundance of traditional and green power sources, Nevada is emerging as an advanced centre for

Information Technology businesses. IT in southern Nevada is anchored by technology giants Switch and Zappos.com together with Take-Two Interactive Software, Inc. In northern Nevada, Microsoft Licensing, Apple and the Sierra Nevada Corporation are leaders in the region. HEALTH CARE As a result of steady growth by Nevada pharmaceutical companies such as Spectrum Pharmaceuticals, Nevada’s healthcare sector is advancing. Additionally, medical device manufacturing companies such as Varian Medical Systems are increasing their global footprint by exporting medical diagnostic imagining hardware and border safety x-ray and thermal imaging machinery. Plans to establish a medical centre of excellence on the University of Nevada Las Vegas campus are moving forward. It will house an allopathic medical school and be able to host clinical trials and advanced research partnerships with neighbouring institutions. INDOOR AGRICULTURE Nevada is working to bring the indoor agriculture industry to the US, enabling exportation of the products and technology used by the industry. Nevada’s transportation infrastructure and location in the western part of the US makes the state an ideal location for indoor agriculture. FOREIGN TRADE ZONES (FTZs) Nevada has unique FTZs in the cities of Las Vegas in the south and Reno in the north. As a result of one of the first national designations as an Alternative Site Framework, Nevada is able to use the entire county of Clark (south) and Washoe (north) as FTZs. There is now the added incentive of a subsidy of up to 75% of annual personal property taxes being discounted for those companies locating in the FTZs. In an FTZ, a company may bring foreign goods or raw materials for manufacturing or assembly into Nevada without formal U.S. Customs entry or payment of duties and taxes until the finished product leaves the zone. Whether you are looking to expand or relocate your business to Nevada or you are simply looking to invest in industry-leading companies, Nevada is the state to empower your success. For more information, contact: Kristopher Sanchez, Director of International Trade Nevada Governor’s Office of Economic Development 555 E. Washington Avenue, Suite 5400 Las Vegas. NV 89101 Tel: +1 702-486-3087 Email: ksanchez@diversifynevada.com Website: www.diversifynevada.com

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NEW MEXICO

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New Mexico New Mexico has improved its business climate more than any state in the western US over the past three years. A recent study by Ernst & Young and the New Mexico Tax Research Institute determined that we have reduced tax rates for manufacturing by nearly 60% – the greatest drop, by far, in the western states studied. New Mexico’s after-credit manufacturing rate is now at 3.3% – the best in the region. Additionally, the non-partisan Tax Foundation recognised New Mexico’s successful bi-partisan approach between Gov. Susana Martinez and the state legislature with its prestigious award for “Outstanding Achievement in State Tax Reform”. These recent, significant improvements to the state’s business climate are only part of the reason why it is time to take a closer look at New Mexico. THE LAND OF ENCHANTMENT In recent years, New Mexico has made incredible strides in improving its tax climate and bolstering incentives considerably, leading the Land of Enchantment to become the No.1 state in the western region for manufacturing and exportrelated job growth nationwide. Most notable, has been the 22% business tax reduction and virtual elimination of the tax on manufacturers. Additionally, the state’s closing fund, LEDA, has increased to $50 million. And investment in the workforce training incentive, the Job Training Incentives Program (JTIP), has increased. JTIP has been recognised as one of the top five most aggressive workforce development incentive programmes in the nation. Gov. Susana Martinez and bipartisan members of the Legislature have balanced the state’s budget without raising taxes, and now New Mexico boasts five-straight years of having a $100 million plus budget surplus. The state has also cut taxes more than 25 times, including most-recently a single sales apportionment filing option for businesses that locate headquarter facilities in the state. Since these reforms, the state has announced over 50 business expansions and relocations including Union Pacific, TE Connectivity, Honeywell, Bendix/King, Google, Comcast, Flagship Food Group, Fidelity Investments, Convergys and CN Wire. WHY NEW MEXICO Productive workforce Low property taxes Competitive incentives Exceptional R&D facilities Low energy costs Advanced infrastructure Great climate Quality lifestyle

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New Mexico offers a variety of unique assets to the global business community which positions the state at a significant competitive advantage in a diverse list of important and emerging industry segments. • Energy and Natural Resources – Abundant natural resources make the state a leader in energy production; from oil and gas, to wind, solar and algae production • Aerospace and Space and Defence – Space pioneers found New Mexico 75 years ago and the industry continues to grow here thanks to an ideal climate, restricted air space, testing facilities, Spaceport America and more • Value-Added Agriculture – New Mexico is the number one state for chilli production and the number two state in pecan production in the nation. Competitive electric prices, land costs, and wages separate New Mexico from other states • Logistics, Distribution and Transportation – Companies have discovered that New Mexico’s location – at the centre of the nation’s five fastest growing states – is ideal for goods distribution. Interstate 25, originally known as the Camino Real or Royal Road, connects the state to both international borders, and two interstate highways connect New Mexico to the east and west coasts • Advanced Manufacturing – New Mexico offers the lowest effective tax rate for manufacturers in the nine-state Western region, and no inventory tax. In addition, the state enacted a single sales factor in 2014 for manufacturers that will phase in over a five-year period to 100% • Emerging Technology – The state is home to three national research facilities and three nationally-recognised research universities, and is ranked first in non-industry investment in research and development and second in high-tech jobs, providing unparalleled capacity for research collaboration and technology commercialisation • Back Office and Technical Support – Home to an increasing number of customer service centres, New Mexico enjoys a strong and growing back office sector with some of the largest US consumer companies represented such as, Lowe’s and Fidelity Investments For more information, contact New Mexico Partnership 1720 Louisiana Blvd NE, Suite 312 Albuquerque, NM 87110 Tel: +1 505-247-8500 Website: www.nmpartnership.com

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• • • • • • • •

KEY BUSINESS SECTORS

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OREGON

Oregon

Oregon is a place where business grows. Where entrepreneurs and big thinkers build diverse industries. Where innovators make things better, faster, and stronger. Where sustainability means profitability.

LOW ENERGY COSTS

Oregon’s workforce, desirable livability, competitive business costs and access to foreign markets are all tremendous assets. These assets have helped to grow headquarters of world-famous companies such as Nike and Columbia Sportswear in Oregon, as well as significant presences of leading companies such as Intel, Precision Castparts, Adidas, Boeing, and Daimler.

INNOVATION

SKILLED WORKFORCE Oregon was the number one destination among people who moved from one US state to another in 2015. Young, talented professionals are choosing Oregon as their home at an increasing rate. Fashion designers, green building architects, advertising creatives and others look to Oregon for jobs in their industries and quality of life. Oregon is particularly strong in semiconductor and other silicon-based manufacturing, with a highly skilled workforce of more than 50,000 working in the industry. TAX STRUCTURE Oregon’s business climate is consistently recognised as one of the best in the US. In its most recent study, Ernst & Young once again ranked Oregon as having the lowest effective business tax rate of any US state at 3.3%. Oregon was also identified by the American Institute for Economic Research as the top manufacturing location in the US and, notably, corporations that operate in Oregon, but sell goods in other states, pay corporate income taxes based solely on company sales within the state of Oregon.

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Oregon’s property tax abatement programmes can eliminate property taxes on new facilities and equipment for three to 15 years.

‘Oregon’s business climate is consistently recognised as one of the best in the US.’

Due to Oregon’s ability to harness hydropower, the state’s energy costs are among the lowest industrial rates in the US, averaging around six cents per kilowatt hour (kWh). This is approximately half of the average industrial rate in California. Oregon connects companies with university labs that house the technical capacity, in both equipment and brainpower, to make innovation happen. The state has invested in the creation of three state-of-the-art Signature Research Centres that bring together the top research and cutting-edge laboratories at Oregon’s four research universities. University resources are connected directly to Oregon companies, so that private firms can access a renowned R&D facility without the high cost of building their own. SUSTAINABILITY Oregonians have always put great value on the long-term health of the environment in which they live, work and play, so we take a long-term view when making investments in economic development. Oregon had the foresight to set up a renewable energy-friendly environment ahead of the pack. Wind, solar, wave, biomass and geothermal energy development is all happening in Oregon, in addition to green building design, environmental monitoring technology, sustainable urban planning and more. INTERNATIONAL TRADE One in four Oregon manufacturing jobs is linked to international trade and Oregon consistently ranks among the top 10 US states in exports per capita. The Port of Portland offers easy, multi-modal international access, with direct flights to Europe and Japan, as well as full marine and rail connections. Because of its Pacific Rim location, Oregon is an especially easy conduit for goods travelling to and from Asia. HELPING HAND The Business Oregon recruitment team helps companies looking to relocate or expand to Oregon. Recruitment officers work with interested companies to identify Oregon sites that meet size, utility, infrastructure and workforce requirements. The state also has certified industrial sites that are shovelready for new development. For more information, visit www.oregon4biz.com

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UTAH

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Utah

Consistent. Predictable. When it comes to business, “boring” is a very good thing. And when it comes to business, Utah is just “boring” enough that your business would thrive. Forbes magazine recently listed the top US states for business, and Utah claimed the top spot – again. That is five out of the last six years the state has ranked No.1. Utah has maintained its AAA bond rating since rating agencies began tracking in the 1960s. The state has not raised its corporate tax rate in nearly 20 years. Energy costs have remained below national averages for decades. Even our international airport is on top of its consistency game: last year Travel+ Leisure ranked Salt Lake City International Airport the most punctual airport in America, the fifth such ranking for the airport since 2008. This is all to say that Utah’s business environment is predictable – a trait cherished by business leaders. Part of the Beehive State’s success can be attributed to a surprising aspect, its diverse economy. Utah is credited with having the third most diverse economy in the nation. The state boasts manufacturing in the north; tech firms in the ProvoOrem area; mining, oil and gas in the eastern region, not to mention the booming leisure and hospitality industries in Summit County and southern Utah. The state of Utah has dedicated considerable resources to becoming an enticing global business destination. Diverse industries aside, Utah is convenient to get to. It is also massively multilingual with more than 130 languages spoken in the course of business every day. It has a foreign trade zone and intermodal inland port. This land-locked state has cultivated new business and expanded its international presence by attracting global brands like Adobe, Goldman Sachs, Procter & Gamble, Boeing, Orbital ATK and eBay to name a few. UTAH IS GROWING AND INVESTORS ARE CALLING Foreign companies find Utah fertile ground for investment. Nearly 200 companies from 29 countries are doing business here. According to the most recent data from the U.S. Bureau of Economic Analysis, foreign companies with Utah operations grew their workforces in the state by 7.7% from 2007 to 2012, compared to only 3.3% growth nationally.

WHY WE GROW The International Trade and Diplomacy Office housed in the Governor’s Office of Economic Development (GOED) has an experienced local staff plus in-country trade representatives who provide advice and connections to companies looking to

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In conjunction with the World Trade Center Utah, GOED also organises multiple trade missions a year. In 2015 the governor led a delegation of businesses and government leaders to Western Europe with the purpose of capitalising on new investment opportunities and building even stronger trade relationships. The UK alone is Utah’s third largest trading partner, with $1.42 billion in exports in 2014. When you consider Utah’s activity with Mexico, Canada and China, you can see why the state’s international presence is strong. Utah was the only state to double exports between 2008 and 2012, and is sixth in the nation as a percentage of GDP from exports. INCENTIVES It is important to Utah to keep home-grown companies in the state while also recruiting new companies domestically and internationally. To this end Utah offers highly successful postperformance refundable tax credits – economic development tax increment financing (EDTIF) incentives – to companies that want to expand and those that would like to relocate to the state. Companies such as OOCL, Ottobock Healthcare, Oemeta, Beijer Electronics, Lin Manufacturing and FLSmidth are a few of the notable foreign-based companies that have received recent incentives to expand in Utah. But the incentives Utah offers are not its lead recruiting card; Utah’s energy and real estate costs are low, its healthy young workforce is recognised as exceptionally productive, and the state’s quality of life is considered second to none. With these factors, a competitive incentive just seals the deal. UTAH’S CONTRASTS MAKE IT SUCCESSFUL Utah exports primary metals, sports equipment, and medical and IT devices. It houses established, world-renowned companies, but also the innovative start-ups that keep an economy vibrant and attract top investors. It’s an unlikely “David” that has entered the “Goliath” of the global arena and excelled. If you have not considered doing business in Utah, you should. We invite you to see for yourself at the Utah Global Forum event in Salt Lake City on 24 October 2016 (www.utahglobalforum.com). For more information, visit business.utah.gov or contact businessutah@utah.gov.

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Utah manufacturing jobs tied to multinational companies grew 13% in that same period. Foreign-owned companies employ approximately 30,000 Utahns, and European companies employ more than half of those workers.

export and investors looking to find safe and productive places to put their capital. The state and its partners are actively courting Foreign Direct Investment (FDI).

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WASHINGTON

Washington

Take a look around the skyline of Seattle and you can quickly see that Washington’s economy is growing at record levels. In 2015 alone, more than 100 construction projects were underway within the city’s limits, from Amazon’s expansive headquarters to new apartment buildings, mixeduse skyscrapers, restaurants and entertainment complexes to support a young, tech-centric population. New projects can be found around the state, from the largest frozen food storage facility on the west coast to a new flight operations facility for Mitsubishi’s MRJ commercial aircraft. Known for its culture of creativity, mild climate, diverse geography and entrepreneurial mindset, Washington State has established itself as a world-class centre for commerce, trade and investment. A DIVERSE INDUSTRY LANDSCAPE New businesses are drawn to Washington by its highly skilled workforce, lack of personal and corporate income taxes and innovative pioneer spirit, which has given birth to such international business legends as Amazon, Boeing, Costco, Expedia, Microsoft, Nordstrom and Starbucks. With a focus on aerospace; advanced materials; information and communication technology (ICT); life sciences/global health; maritime trades and clean technologies, the state is home to 800 multinational firms employing nearly 100,000 workers. This includes such well-known firms as Alibaba, BP, Dassault Systemes, Jubilant, Philips Healthcare, REC Silicon, T-Mobile, WaferTech and Zodiac. AN INTERNATIONAL GATEWAY

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Seattle-Tacoma International Airport (Sea-Tac) is connected to the world with direct flights to major European and Asian business centres as well as the Middle East. In 2015, international travel was up 15.2%, making Sea-Tac one of the fastest growing airports in the United States. ANA, Asiana Airways, British Airways, Condor, Delta, Eva Air, Hainan Airlines, Iceland Air, Korean Air and Lufthansa all offer direct or connecting flights from Seattle to major gateways around the world. Since Washington State is equidistant between Asia and Europe, it is a natural epicentre for trade. Washington is the third largest exporting state in the United States, shipping more than $90.6 billion in products and an estimated $20 to $40 billion in services. The state is No.1 in aircraft exports as well as the No.1 supplier of raspberries, hops, apples, cherries, pears and concord grapes.

“Washington is known the world over for its amazing entrepreneurial spirit” One of the state’s many competitive advantages lies in the fact that some of Washington’s ports are a day’s sail closer to Asia markets than other ports on the west coast. The Northwest Seaport Alliance, which combines Seattle’s and Tacoma’s deep-water ports, is the third largest port in the United States. ENTREPRENEURIAL CULTURE Washington is known the world over for its amazing entrepreneurial spirit. A culture of collaboration and innovation brings new ideas rapidly to market. It is not uncommon for start-ups to open right across the street from their founders’ former employer. Ideas are easily shared over coffee or a craft beer in the surrounding cafes and pubs. This ecosystem of creativity is supported by more than a hundred co-working spaces, makerspaces, incubators and accelerators, as well as world-renowned research and development organisations and labs. This spirit of collaboration and cooperation crosses industry lines as well. For instance, the state’s aerospace and ICT sectors have benefitted greatly from a cross-pollination of ideas and advances that have changed the way we travel. This is particularly true in the areas of highly advanced avionics and onboard navigation systems, which draw much of their inspiration from the pioneering work of Washington’s nearly 14,000 technology companies. A GREAT PLACE TO DO BUSINESS Washington is a study in contrasts to be sure. Featuring a highly educated, highly productive workforce, a smart, multi-faceted sector-driven strategy and a critical mass of world-class companies, Washington has emerged from the Great Recession in a high growth mode, benefitting from an ecosystem that is as resilient as it is collaborative, a testament to the pioneer spirit that continues to drive the state’s robust economy. For more information on doing business with and in Washington State, contact our European office at +44 (0) 1544 327061, visit ChooseWashingtonState.com or email us at moreinfo@choosewashingtonstate.com

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WYOMING

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Wyoming Wyoming is rich in natural resources and American West heritage. Its landscape is as varied as its energy resources. Windswept prairies and flat croplands yield to large expanses of sagebrush steppe and majestic mountains. World-class destinations such as Yellowstone National Park and open spaces are enjoyed by residents, businesses and visitors alike. But that is only half the story. Wyoming consistently receives high marks for state management and deep financial reserves, which, in turn, provides business owners a reliable, collaborative environment in which to work. The Wyoming Legislature is statutorily required to maintain a balanced budget and the state has an approximately $16 billion in savings. Solidly in the black, Wyoming is able to invest in education and infrastructure critical to public and private business needs. Wyoming government’s polished business practices spill over to its favourable business climate. The Pollina Corporate Top 10 Pro-Business States report ranks Wyoming No. 2 (2014). Wyoming features no personal or corporate state income tax, a stable regulatory policy and a low cost of doing business. Wyoming’s open-door access to legislators and the Governor is especially attractive to start-up companies in highly regulated industries. This access, coupled with numerous grant, loan and incentive programmes, provides business with key financial resources. Wyoming is located in the heart of the Rocky Mountain region and is bordered by Utah, Nebraska, Idaho, Montana, South Dakota and Colorado. Wyoming’s advantageous geographic location places it at the crossroads of the American West. Three interstate highways; two Class I railroads and major international airports in Billings, Montana; Denver, Colorado, and Salt Lake City, Utah, provide reliable access to and from Wyoming communities statewide. The state’s combination of good infrastructure, a cool climate relatively sheltered from natural disasters, a solid workforce pool, low electricity costs and targeted incentives have attracted world leaders in the digital data storage and delivery business such as Microsoft and the EchoStar Corp. Wyoming is increasingly a magnet for the high-tech and manufacturing industries and has notched other notable wins under its belt of late.

International safety science company Underwriters Laboratories expanded to Laramie, Wyoming, in 2014. The office houses UL’s technology development and support services for enterprise applications and global clients in the technology sector.

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Meanwhile, several large energy projects are on the horizon in Wyoming including: -

The 1,000-turbine Chokecherry and Sierra Madre Wind Energy Project in south-central Wyoming. It will be the largest wind farm in the US The TransWest Express transmission line from southcentral Wyoming to southern Nevada The Integrated Test Centre at Basin Electric’s Dry Fork Station coal-fired power plant north of Gillette, Wyoming, will provide a lab for carbon-capture research and valueadded coal opportunities

Wyoming is often referred to as the “energy capital of the US” because it ranks in the top 10 nationally in major energy industries, including coal production and economic reserves (first); uranium production and economic reserves (first); soda ash (trona) production and economic reserves (first); bentonite production and economic reserves (first); helium production (second); natural gas reserves (third); natural gas production (fifth); crude oil production (eighth) and wind energy production (12th). Additionally, the Bear Lodge Critical Rare Earth Project in north west Wyoming is the most advanced rare earth development project in North America. The preliminary feasibility study was completed in 2014. The University of Wyoming’s $115 million Tier 1 Engineering Initiative, launched in 2012, is designed to lead the state’s only four-year public university to the national forefront in education and research. The initiative includes industry partnerships and provides the added benefit of workforce development. The College of Engineering and Applied Sciences partnered with the School of Energy Resources to enhance education and research in the following areas: -

Improved oil and gas recovery Clean coal and gas to liquids High-performance computational science and engineering Oil and gas flow in unconventional reservoirs

The aesthetic scenery, recreational opportunities, safe communities and excellent business benefits make Wyoming, we feel, the best place in the US to live and do business. For more information, visit: Website: www.wyomingbusiness.org

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The National Center for Atmospheric Research’s 1.5-petaflop Yellowstone Supercomputer went online in 2012 in Cheyenne. It is one of the world’s fastest big-data computers. About 75 million core-hours per year are reserved for University of Wyoming-led projects.

Tungsten Heavy Powder & Parts announced in August 2015 its China-based production operation will move to Laramie. The Laramie plant will produce tungsten fragments and penetrators to be sold globally to military weapons and armament manufacturers.

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ALASKA

Alaska

Alaska’s Pacific Rim location, pro-development business climate and thriving resource sector makes it a strategic choice for large-scale international investment. With 656,000 square miles of territory, Alaska is – by far – the largest state in the US as well as one of the youngest; Alaska became a state in 1959. Its 33,000 plus miles of coastline stretch across the North Pacific and Arctic Oceans, and the state is strategically located at the crossroads of the Pacific Rim and Arctic marine trade routes. Anchorage International Airport, located in Alaska’s largest city, is 9½ hours by air from 90% of the industrial world and is an important cargo hub for flights between Asia and North America. Known as one of the most business-friendly states in the country, Alaska was recently ranked fourth in the US for best business tax climate by the Tax Foundation. With graduated corporate income taxes based on taxable income and no individual state income or sales tax, Alaska provides an extremely competitive tax environment for businesses. Alaska also offers a variety of attractive tax incentives, including tax credits for oil and gas exploration and development, in-state refineries, minerals exploration, value-added seafood processing, education and veteran employment. Alaska is extremely rich in natural resources, which have long drawn the attention of outside interests. The state is a leader in global standards for natural resource management, securing Alaska as an enduring, stable setting for development. Through the Alaska Industrial Development and Export Authority, the state also has the ability to co-invest in viable projects. SEAFOOD

Ken Graham, Accent Alaska

WESTERN REGION

The wild, natural and sustainable Alaska seafood brand is known around the world. Seafood is Alaska’s largest individual export; in 2014, seafood exports totalled $3.28 billion, with exports to China approaching $1 billion. Key species

exported include Alaska Pollock, five species of wild Alaska salmon, black cod and Pacific cod. Alaska’s seafood industry produces more than 50% of all seafood harvested in the US and more than 95% of all US wild salmon. The total economic output of the Alaska seafood industry is $15.7 billion, including $6.4 billion in labour income, making the seafood industry the state’s largest private-sector employer. OIL AND GAS The oil and gas sector – long the backbone of the state’s economy – generates approximately one-third of the state’s jobs. Alaska has an estimated 40 billion barrels left on the North Slope plus additional reserves in Alaska’s Arctic offshore. While established oil producers continue to focus on maximising production from mature fields and exploring opportunities to reinvigorate production, one of the greatest new opportunities in Alaska is natural gas production and export. With legislation passed in 2014, Alaska embarked on developing a $45-$60 billion natural gas pipeline and liquefied natural gas (LNG) export project in partnership with BP, ConocoPhillips, ExxonMobil and TransCanada. The project is currently in the pre-front-end engineering and design phase for proposed pipeline corridor routes and facilities. The proposed project would export 15 to 18 million tons of LNG annually, with operations beginning in 2024. MINERALS Alaska’s mineral potential ranks in the top ten globally for known reserves of coal, copper, lead, gold, zinc and silver, along with more than 70 occurrences of rare earth elements. Alaska’s six major producing mines and nearly three hundred operating placer mines produced an estimated total value of $3.28 billion in 2014. Of that total, gold constituted more than 45%, followed by zinc at 33.9%. Alaska is also home to a number of world-class exploration and development projects that attract international investors, predominantly from companies based in the UK, Canada and Japan. In contrast to many other locations across the globe with rich mineral deposits, Alaska offers political stability, secure land tenure, a skilled workforce and tax incentives. For more information, contact: State of Alaska Office of International Trade Office of the Governor 550 W 7th Avenue, Suite 1700 Anchorage, AK 99501 Tel: +1 907-269-7450 Website: www.gov.state.ak.us/trade

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HAWAII

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Hawaii

Hawaii has four main advantages that make it a truly unique place to do business. WE ARE TOTALLY COMMITTED TO THE KNOWLEDGE AND CREATIVE BASED INDUSTRIES OF THE FUTURE Hawaii already has a greater number of knowledge-based and creative new industries than most states. These include biotechnology; alternative and renewable energy; homeland security and defence; dual-use technologies; astronomy and space; aquaculture and marine and environmental sciences; oceanography and vulcanology. Hawaii is also committed to diversified agriculture; healthcare and wellbeing; finance and captive insurance. The state also has a generous refundable tax credit for expenditures while producing film, television, commercial or digital media projects. WE ARE A GLOBAL COMMUNICATIONS CENTRE THAT SPEAKS YOUR LANGUAGE, WITH UNPARALLELED BANDWIDTH We have extensive fibre-optic capacity, as well as satellite technology. But even more important, Hawaii provides an educated, ethnically-diverse and motivated workforce that speaks all the world’s key languages with Hawaii’s famous spirit of Aloha.

WE CAN SPEAK DAILY, IN REAL TIME, DURING A NORMAL WORKDAY WITH TWO-THIRDS OF THE WORLD’S ECONOMY In Hawaii, business people can chat with colleagues, customers and clients in North and South America from 8am to 2pm, in Australia and Asia from noon to 6pm, and still get away to watch the sun set. Get up just an hour or so earlier, and we can even talk to Western Europe, before their business day ends. Hawaii’s unique time zone makes it easy to maintain that human contact that is so important, but so very rare, in the new global business environment. WE ARE WORLD-RENOWNED FOR OUR RECREATION, RELAXATION AND NATURAL BEAUTY Hawaii represents peace of mind in a perilous world. It is a safe haven that is protected by the U.S. Armed Forces, as well as America’s rule of law and America’s intellectual property rights. This makes Hawaii the ideal global business centre, where you can work hard, play hard and enjoy a quality of life that is unmatched in any other scenic location. It is just what the doctor ordered to de-stress and rejuvenate the creativity and productivity requirements of information age executives, while protecting their company’s assets. If you start to really think seriously about the future of business in a global, 24/7, more impersonal and somewhat perilous world, and then add to it how you really want to live your life, logic will lead you inevitably to that unique combination of advantages Hawaii has to offer right now, and will always have, as one of the very best places to live, successfully do business and raise a family. Hawaii is ready to welcome a global business community. We have the diverse talent and technology, the incentives and the strategic location for the industries of the future, the recreational advantages, and most important, that wonderful, intangible quality of Aloha. For more information, contact:

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WESTERN REGION

Department of Business, Economic Development and Tourism No.1 Capitol District Building 250 S. Hotel Street Honolulu, HI 96813 Tel: +1 808-587-3832 Website: hsdc.hawaii.gov

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BRITISHAMERICAN BUSINESS

BritishAmerican Business: The Company to Keep

As the leading transatlantic business organisation dedicated to helping its member companies connect and build their international business, BritishAmerican Business is here to help you. WHAT IS BAB? • Established in 2000, when we merged the American Chamber of Commerce in the UK and the British-American Chamber of Commerce in the US to create a business organisation that is uniquely positioned to serve its member companies on both sides of the Atlantic • Based in the two major western business/financial centres of London and New York, with networks extending to more than 60 other major US and European business centres

WHO ARE BAB’S MEMBERS? The world’s leading multinationals and middle-market companies, including major US and European players in: • Accountancy • Aerospace/defence • Airlines • Banking • Energy • ICT • Insurance • Law • Logistics • Management/business consultancies • Media • Pharmaceuticals • Real estate • Telecoms WHAT DOES BAB OFFER? Targeted, high-calibre networking and marketing platforms as well as top-quality business intelligence and regulatory advice and influence, including: • More than 100 high-quality events each year ranging from exclusive, C-Suite meetings with top corporate/government leaders to business briefings, professional and sectoral forums, and social/client entertainment occasions

HOW WE CAN HELP

• High-quality marketing and brand-building platforms reaching a senior level audience of companies/executives involved in global or transatlantic business • High-level representation to government on policy issues of concern to our membership • A portfolio of targeted business services ranging from business introductions and referrals to visa, business intelligence and event management services

BRITISHAMERICAN BUSINESS: THE COMPANY TO KEEP Website: www.babinc.org New York Office 52 Vanderblit Avenue 20th Floor New York NY 10017 Tel: +1 212-661-4060 Email: nyinfo@babinc.org Twitter: @BABNewYork

London Office 12 Phillimore Walk Kensington London, W8 7RX Tel: +44 (0) 20 7290 9888 Email: ukinfo@babinc.org Twitter: @BABLondon

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BRITISHAMERICAN BUSINESS

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BRITISHAMERICAN BUSINESS AT A GLANCE HONORARY PATRONS

Sir Peter Westmacott KCMG, LVO Her Majesty’s Ambassador to the United States Matthew Barzun U.S. Ambassador to the United Kingdom

CHAIRMAN INTERNATIONAL ADVISORY BOARD

Sir Martin Sorrell CEO, WPP Group

CHAIRMAN BOARD OF DIRECTORS

Nicholas C. Walsh Senior Advisor, AIG

PRESIDENT

Christopher J. Perry President, Global Sales Marketing and Client Solutions Broadridge Financial Solutions

CHIEF EXECUTIVE

Jeffries Briginshaw

MANAGING DIRECTOR, NEW YORK

Wendy Mendenhall

TTIP: A TRADE & INVESTMENT OPPORTUNITY The Transatlantic Trade and Investment Partnership (TTIP) is a trade and investment agreement under negotiation between the United States and the European Union.

National Roadshow Programme Over the past three years, we have been particularly keen to illustrate the local, specific and tangible benefits that TTIP can deliver to businesses, workers and local economies. We regularly provide policy submissions, letters and statements and run TTIP-related roundtables, seminars and conferences. In addition, since 2013, we have conducted local roadshow events throughout the UK. In June 2015 we started our second series ‘Open for Business’ that aims to explore the UK-US trade and investment dimension and TTIP opportunity in leading UK industry sectors. Small and Medium-sized Companies With market access, rules and regulatory cooperation at its heart, TTIP addresses the areas that affect companies on an everyday basis. A key element of our work is to illustrate the

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Coalition for Transatlantic Business BAB and the BABC work closely with the EU, national and regional governments, including the Office of the United States Trade Representative; the U.S. Department of Commerce; the U.S. State Department; the Department for Business, Innovation & Skills; the Foreign & Commonwealth Office; U.S. and UK Embassies and Consulates and UK Trade & Investment as well as EU, national and regional trade organisations. BAB represents its members and the chapters of the BABC at the ‘Business Alliance for TTIP’ (EU) and the ‘Business Coalition for Transatlantic Trade’ (US). BAB is part of the network of European American Chambers of Commerce (AmChams in Europe). Outreach BAB and the BABC have played an active voice in the national and international TTIP debate. Staff representatives and member companies speak regularly at hearings, public meetings and conferences. For further news and insights on TTIP and our activities, visit our website at babinc.org, join our Linkedin Group ‘Transatlantic Trade and Investment Partnership’ and follow us on Twitter @BABPolicy.

HOW WE CAN HELP

Launched at the G8 Summit in June 2013, TTIP has the goal to promote trade and investment, increasing jobs and growth on the two sides of the Atlantic. TTIP is the biggest, most ambitious, trade agreement ever negotiated. BritishAmerican Business (BAB), in close collaboration with the chapters of the British-American Business Council (BABC), plays a leadership role in promoting an ambitious and comprehensive agreement in the UK and the US.

tangible benefits for smaller and medium-sized enterprises (SMEs) and to answer those questions that businesspeople have regarding the agreement. BAB has now created a comprehensive SME forum covering these matters.

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AMERICAN EMBASSY

U.S. Commercial Service in London Comment from John Simmons, Minister Counselor for Commercial Affairs at the American Embassy in London The bilateral commercial relationship between the United States and the United Kingdom continues to support a substantial number of jobs, businesses and investments in each country. This year our bilateral trade in goods will easily surpass $100 billion, while trade in services will roughly equal this figure. Investment flows between our two countries now exceed a cumulative $1 trillion, with affiliates of UK companies operating in the United States employing almost one million Americans.

Our trade relationship continues to show robust results as well. The UK is the only market among the top 15 destinations for US exports that has generated growth this year, with US exports to the UK up 5% through August 2015. UK exports to the US have also been strong, having increased by 7% this year. Beyond trade in goods, our exchange of travellers also contributes greatly to the vibrancy of our commercial relationship. Each year the US and UK send seven million tourists between our two countries, generating almost $25 billion in spending. In each of these areas â&#x20AC;&#x201C; investment, trade, services and tourism â&#x20AC;&#x201C; the U.S. Embassy seeks to aid American and UK business in support of expanded ties. In doing so, we look to our valued partner, BritishAmerican Business, to support these critical endeavours.

HOW WE CAN HELP

In the coming year, the U.S. Embassy in London will continue to make assisting UK firms seeking to invest in the United States one of our highest priorities. We hope to facilitate the participation of UK companies in two major investment promotion events: the annual SelectUSA Summit taking place in Washington in June 2016, and a major US investment forum being organised in April 2016 as part of the Hannover Messe

in Germany. At both investment conferences senior U.S. Government officials will be present, as will representatives from all 50 US states.

US Ambassador Barzun, who led the UK delegation to the SelectUSA Investment Summit in March 2015, speaks at the reception held for delegates at the British Residence in Washington DC, with UK Ambassador Sir Peter Westmacott to the left

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COUNCIL OF AMERICAN STATES IN EUROPE

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A bridge into the best place to invest – The Council of American States in Europe (CASE) By Finn Weisse, CASE President and Director of the Kentucky Cabinet for Economic Development Europe Office “Business leaders around the world have declared that China is no longer the world’s number one place to invest; America is,” President Obama affirmed in the 2014 State of the Union Address, and that continues to be the case. In fact, the United States for the third year in a row ranks number one in the 2015 A.T. Kearney Foreign Direct Investment Confidence Index. The index is a list of countries where corporate executives say they are most likely to direct their foreign investment dollars and 46% of the surveyed business executives are even more optimistic about the US economy’s outlook than they were a year ago. The United States is the world’s largest economy boasting a GDP of over $17 trillion and a population and consumer market of more than 321 million people. With a business friendly environment, a flexible labour force, low energy prices and solid industries, the US is a thriving market offering investors a wealth of opportunities.

With all the opportunities, however, there are also challenges to potential investors. Unlike many countries, the US is a nation of 50 separate states that have their own state and local regulations that require a healthy knowledge of tax, commercial and labour laws. For more than four decades, the Council of American States in Europe (CASE) has served as a resource and a bridge into the US marketplace for the many European and global firms who have sought to learn more about doing business in the United States. The official state-supported organisation in Europe comprises of 17 states with full-time offices in different European countries, which work to promote and highlight the benefits of considering the United States as a key investment destination. With its local knowledge and network of experienced professionals, CASE is a valuable partner for any new investor. Our services:

Your benefits: • Individually tailored information packages • All services are free, confidential and without any obligations • An international team in your area • A soft landing in the United States providing the best location for your company Current member states: • Colorado • Florida • Georgia • Illinois • Indiana • Iowa • Kentucky • Louisiana • Mississippi

For further information, contact: • • • • • • • •

Missouri North Carolina Ohio Pennsylvania South Carolina Utah Virginia West Virginia

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Council of American States in Europe (CASE) Mainzer Landstr. 176 D-60327 Frankfurt, Germany Tel: +49 69 9735 8315 Email: caseoffice@invest-in-usa.org Website: www.invest-in-usa.org

HOW WE CAN HELP

• Identification of the most suitable investment opportunities for your company • Professional assistance in the business site selection process • Introduction to job creation and investment incentives and local business networks • Detailed information on industry sectors and operating costs • Access to technical and workforce training programmes • Organisation of administrative and legal support • Introduction to our network of qualified service providers

134

BRITISH-AMERICAN BUSINESS COUNCILS

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WA WA S HI S HI N G TN G T ON ON

NORTH NORTH DAKOTA DAKOTA

M OMN O N TA N TA AN A

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HelenHaelena

OR OR E G E G O NO N

Bismarck Bismarck

SOUTH SOUTH

I D A IHD A H O O

Pierre Pierre

BoiseBoise

WYO WMY IO NM GI N G

DAKOTA DAKOTA

San Francisco

BABC – Northern California Sacr British SacrConsulate-General UK Trade & Investment am am

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U T AU HT A H

Denve De r nver

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Denver

C O LO CO British LO RA RA D O DConsulate-General O

K A NKSAANS S A

CA L CA L I F O RI F O R Los Angeles NI A NI A

BABC – Los Angeles British Consulate-General UK Trade & Investment

Los ALnogseAnge les les Orange County

BABC – Orange County

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Albuqu Alerq buqu ueerque

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N EW N EMWE XMI EC X OI C O

HOW WE CAN HELP

DallasDallas

E T XE AX SA

Key to Councils BCCTC – The British Canadian Chamber of Trade and Commerce BABA

– British American Business Association

BABC

– British-American Business Council

BACC

– British American Chamber of Commerce

BAB

– BritishAmerican Business

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BRITISH-AMERICAN BUSINESS COUNCILS

Canada

INE INE MA MAta ta s s ugu ugu

BCCTC – Canada British Consulate-General UK Trade & Investment

A A er lierpeliBoston e p t t Mon Mon BABC – New England

A T

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M IC IC H H

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135

M IS S IS S IPP I M IS S IS S IPP I

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H A B E TH A H B E TH

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Tampa

BABC – Tampa Bay

NA IS I AN A

BABC – Houston British Consulate-General UK Trade & Investment

Houston

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asseeassee TallahTallah

BatonBaton e ouge RougR

Houston Houston

HOW WE CAN HELP

erymery soonntgoom Jackso JanckM M ntgo

ustin Austin

Detroit

BABC affiliated organisation British Honorary Consulate

I AR G I A O R GO ALMAABAMA G E G E ALABA

arovi rovi Ha HP P anylbany b l A Aw . N. ON.N . N w I .I. e e O R R N kN C k C r Yor o g g Y in in s s Lan LanDetroDitetroit ndison oa M adisM AANIA NewYYork City NLIV EY ERBAB E VA ntonreJEnRtoSn LN Y Y J S – New York S S d d g burTgreNET n n N r W W a a l l u E N N e e b E E v v N British Consulate-General P rgPh rgahrris arris Cle Cle H A lphia lphUKiaTrade & Investment bu buH I O W I OA W Chicago Pitts Pitts iladPehilade h P BABC – Chicago Cleveland D. D. er over oicago ChicaCgh British Consulate-General BACC – Ohio Region eM oreM DovELD r . o m m UK Trade & Investment British Honorary Consulate D . DELPhiladelphia lti lti Msoines BABC – Philadelphia esne Des M Doi smbus Ba Ba u b n n s s li li o o m o o Colu Colu British Honorary Consulate inagsthingt S O I SIndianInadpianap ashW L IIN W . . ILLIN I LO oln C C T T . . ES D D OHIOOHIO WES W eshtaornleston onhdmond ldgfield firein arlC h A A C SprinSgp ichm icWashington DC N N R R INDIAINDIA IAGINIA INIA INIA IN BABA – Washington DC G IR IR G G V V R R VI VI fferson Jeffers Jeon ka Topeka British Embassy rnt kfort fo k n City City a a r r UK Trade & Investment F F S eigh eigh I URI UR O IS CKY CKY SO M IS SM Hal Ral TH R TR KENTKUENTU O NOR N otte otte A INA Charlotte CharlCharlROLIN L CA CARO BABC – North Carolina le le il il v v h h Triangle NC Nas Nas SEE SEE British Honorary Consulate lle ville rtles BABC – Triangle/Eastern NC TENNTEESNNES H H T T bia bia SOU SOoU OMA KLAHOMA C lum Colum A S S SA SA a a N t t AN AN LAI ROLINA AtlanAtlan CARO aho lahoma ARK ARK Okma C Atlanta LittleLittle y City BABC – Georgia Rock Rock British Consulate-General

INN S IN neisapolis IS C OIS inol Minne Map N SO t. PaulW W C /St. Pa /Sul

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BABC affiliated organisation British Consulate-General UK Trade & Investment

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BABC

Using the BABC to Build your Transatlantic Business

Jeffries Briginshaw, Chief Executive, BritishAmerican Business and the British-American Business Council (BABC), explains how the BABC helps companies develop their international business The British-American Business Council (BABC) is the largest transatlantic business network. We have chapters throughout North America and the UK, with a collective total of 2,500 member companies based in more than 20 major business centres. Our goal is to help these companies build their business by providing access to a transatlantic business network that extends far beyond their own home cities, with a portfolio of services to match. Our offering is geared to help middle-market and smaller companies as well as major multinationals. If you are a UK company looking to establish or expand your business in the US, we have a regional chapter ready to help you. The same applies in reverse, if you are a US company looking to build your business in the UK. As well as knowing their regional marketplace, BABC chapters all have member companies who want to do business with companies like yours. If you are a member of any of our chapters, you can connect with these companies through our umbrella website, www.babc.org, by participating in the programmes of other BABC chapters when you are travelling, and by joining us at our annual Transatlantic Business Conferences.

HOW WE CAN HELP

The BABC network also offers other business, advocacy and marketing opportunities to promote your services and products to our members throughout North America and the UK, to facilitate immigration issues, to capitalise on modestly-priced advertising and sponsorship opportunities, and to take advantage of the discounts that our member companies offer to their fellow-members. Our role is simple â&#x20AC;&#x201C; we help companies make connections and do business. If you are (or plan to become) involved in transatlantic business and do not already know about the BABC, do contact your regional BABC chapter to find out what they and the broader BABC network can offer you. For further information about the BABC, and to identify your local chapter please check the following pages or visit us at:

Website: www.babc.org

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BABC CHAPTERS, NORTH AMERICA

137

British-American Business Council Chapters ATLANTA, GEORGIA

British-American Business Council, Georgia 1395 East Cobb Drive #72721 Marietta, GA 30007 Tel: +1 404-681-2224 Email: admin@babcga.org Website: babcga.org Director of Admin: Lindsay McCabe President: Mark Stiles Email: mark@markstiles.com

BOSTON, MASSACHUSETTS

British-American Business Council of New England, Inc. Lewis Wharf, Suite 523 28 Atlantic Avenue Boston, MA 02110 Tel: +1 617-720-3622 Email: business@babcne.org Website: www.babcne.org Twitter: @BABCNE Executive Director: Urszula Wojciechowska President: Kenneth Vacovec

CHARLOTTE, NORTH CAROLINA British-American Business Council of North Carolina, Inc PO Box 480661 Charlotte, NC 28269 Tel: +1 704-968-3166 Email: speeler@babcnc.com Website: www.babcnc.com Executive Director: Sarah Peeler President: Jeff Hay Email: jhay@wcsr.com

CHICAGO, ILLINOIS

British-American Business Council, Chicago 200 West Superior Street, Suite 410 Chicago, IL 60654 Tel: +1 312-880-1040 Email: admin@babcc.org Website: www.babcc.org Website: www.britview.com Twitter: @BABCC President: Tom Stevens Email: stevens@stevens-law.com

CLEVELAND, OHIO

HOUSTON, TEXAS

British-American Business Council, Houston PO Box 421234 Houston TX 77242-1234 Tel: +1 832-351-3940 Email: info@babchouston.org Website: www.babchouston.org Twitter: @BABChouston Executive Director: Becci Himes President: Derek Blackwood Email: president@babchouston.org

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British-American Business Council of Los Angeles c/o KETK 15303 Ventura Blvd, Suite 1040 Sherman Oaks, CA 91403 Tel: +1 310-312-1962 Email: info@babcla.org Website: www.babcla.org Twitter: @BABCLA President: Paul Wright Email: wright@pauljwright.com

NEW YORK CITY

BritishAmerican Business 52 Vanderbilt Avenue, 20th Floor New York, NY 10017 Tel: +1 212-661-4060 Email: info@babinc.org Website: www.babinc.org Twitter: @BABNewYork Managing Director: Wendy Mendenhall President: Christopher J. Perry

ORANGE COUNTY, CALIFORNIA British-American Business Council of Orange County 25422 Trabuco Road, Suite 105-266 Lake Forest, CA 92630 Tel: +1 949-472-2221 Email: Valerie@babcoc.org Website: www.babcoc.com Twitter: @BABCOC Executive Director: Valerie Blackholly President: Joey Benadretti Email: Joey.Benadretti@us.syspro.com

PHILADELPHIA, PENNSYLVANIA

British-American Business Council of Philadelphia 200 South Broad Street, Suite 700 Philadelphia, PA 19102 Tel: +1 215-790-3686 Email: jrosenberg@greaterphilachamber.com Website: www.babcphiladelphia.com Twitter: @BABC_PHL Executive Director: Jane Rosenberg President: Howard Silverstone Email: hsilverstone@forensicresolutions.com

TAMPA, FLORIDA

British-American Business Council, Tampa Bay Region 100 N. Tampa Street, Suite 3600 Tampa, FL 33601-3447 Tel: +1 813-259-9590 Email: inforequest@babctampabay.org Website: www.babctampabay.org Chair: Grant D. Petersen Email: grant.petersen@ogletreedeakins.com

TRIANGLE, NORTH CAROLINA

Triangle NC British-American Business Council 3331 Heritage Trade Drive Wake Forest, NC 27587 Tel: +1 252-299-0195 Email: admin@trianglebabcnc.org Website: www.trianglebabcnc.org Twitter: @triangleBABCNC Administrator: Evelyn Williams-Bustos President: Stephen Cain Email: scain@trianglebabcnc.org

WASHINGTON DC

British American Business Association of Washington DC PO Box 16482 Washington, DC 20041 Tel: +1 202-293-0010 Email: info@babawashington.org Website: www.babawashington.org Twitter: @BABADC Executive Director: Patricia Karhuse, MBE President: Eamonn Cooney

CANADA

British Canadian Chamber of Trade and Commerce 1411-215 Fort York Blvd. Toronto, ON M5V 4A2 Tel: +1 416-816-9154 Email: info@bcctc.ca Website: www.bcctc.ca Twitter: @bcctc Executive Director: Idalia Obregon Email: idalia@bcctc.ca President: Dean Smith

Affiliated Organisations

SAN FRANCISCO, CALIFORNIA

DETROIT, MICHIGAN

SEATTLE, WASHINGTON

MIAMI, FLORIDA

British-American Business Council of Northern California 369 Pine Street, Suite 103 San Francisco, CA 94104 Tel: +1 415-296-8645 Website: www.babcsf.org Email: info@babcsf.org Twitter: @babcsf Executive Director: Jo Healey President: Nicholas Unkovic Email: nicholas.unkovic@squirepb.com

British American Business Council of the Pacific Northwest PO Box 2677 Seattle, WA 98111 Tel: +1 206-769-7194 Email: catherine@babcpnw.org Website: www.babcpnw.org Twitter: @babcpnw Executive Director: Catherine Filippini Chair: Richard Horsfield (from March 2016, Gareth Wade)

British-American Business Council of Michigan c/o Butzel Long 150 W. Jefferson Ave, Suite 100 Detroit, MI 48226 Tel: +1 248-825-7075 Email: babc.michigan@gmail.com Website: www.babcmichigan.org Twitter: @babc_michigan Executive Director: Helen French President: Martin French Email: martin.french@webasto.com British American Business Council, Miami 333 SE 2nd Avenue Suite 3200 Miami, Florida 33131 Tel: +1 305-393-5230 Email: babcmiami1@gmail.com Website: babcmiami.com President: Alan Georgeson Email: president@babcmiami.com

HOW WE CAN HELP

British-American Chamber of Commerce, Ohio Region PO Box 360707 Strongsville, OH 44136 Tel: +1 216-621-0222 Email: info@baccohio.org Website: www.baccohio.org Twitter: @BACCOhio Executive Director: Trisha Allen President: Robert Whittall Email: rob.whittall@dykeyaxley.com

LOS ANGELES, CALIFORNIA

138

BABC CHAPTERS

British-American Business Councils in the UK 1

BIRMINGHAM British American Business Council (BABC) Midlands 75 Harborne Road Edgbaston Birmingham, B15 3DH Tel: +44 (0) 121 607 1938 Email: babc@babcmidlands.org.uk Website: www.babcmidlands.com Twitter: @BABCMidlands Manager: Helen Grice Email: h.grice@birmingham-chamber.com Chair: Harry Reilly

LONDON BritishAmerican Business 12 Phillimore Walk London, W8 7RX

Tel: +44 (0) 207 290 9888 Email: ukinfo@babinc.org Website: www.babinc.org Twitter: @BABLondon CEO: Jeffries Brigginshaw Chair: Nicholas Walsh 3

MANCHESTER

HOW WE CAN HELP

British American Business Council in the North West North West International Trade Centre 1st floor, Churchgate House 56 Oxford Street Manchester, M60 7HJ Tel: +44 (0) 161 237 4197 Email: info@babcnw.co.uk Website: www.babcnw.co.uk Twitter: @BABC_NW Executive Director: Lynn Shaw President: Richard Northcote 4

SCOTLAND Scottish North American Business Council 7 St Annâ&#x20AC;&#x2122;s Drive Giffnock Glasgow, G46 6JS Tel: +44 (0) 798 225 0682 Email: allan@snabc.org Website: www.snabc.org Executive Director: Allan Hogarth Chair: David Carrick

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ORGANISATION INDEX

139

Organisation Index FEDERAL DEPARTMENTS USA.GOV

COMMERCE AND TRADE

Website: www.usa.gov The primary US government site. It encompasses information, services and resources including an A-Z Index of all US Government Departments and Agencies

Department of Commerce 1401 Constitution Avenue, NW Washington, DC 20230 United States Tel: +1 202-482-2000 Website: www.commerce.gov

BENEFITS Website: www.benefits.gov The official benefits website of the U.S. Government. Easy online access to the benefit and assistance programmes

CENSUS BUREAU United States Census Bureau 4600 Silver Hill Road Washington, DC 20233 United States Tel: +1 301-763-4636 Website: www.census.gov A wealth of statistics covering demographics and most parts of the business economy

The U.S. Department of Commerce promotes job creation, economic growth, sustainable development and improved standards of living through partnerships with business, universities, communities and the workforce International Trade Administration U.S. Department of Commerce Tel: +1 800 USA TRADE Website: www.ita.doc.gov SelectUSA U.S. Department of Commerce Tel: +1 202-482-6800 Website: www.selectusa.gov Established by Executive Order of the President, SelectUSA is a governmentwide initiative to promote business investment in the United States by both domestic and foreign firms BusinessUSA Website: business.usa.gov A centralised, one-stop portal providing businesses access across governmental agency boundaries, supporting business start-ups, growth, finance and export

CUSTOMS, BORDER PROTECTION AND HOMELAND SECURITY Department of Homeland Security 245 Murray Lane SW Washington, DC 20528-0075 United States Tel: +1 202-282-8000 Website: www.dhs.gov The vision of homeland security is to ensure a homeland that is safe, secure and resilient against terrorism and other hazards – it comprises the Citizen and Immigration Service, Coast Guard, Customs and Border Protection, Federal Emergency Management Agency, Federal Law Enforcement Training Center, Immigration and Customs Enforcement, Secret Service and Transportation Security Administration Customs and Border Protection 1300 Pennsylvania Ave. NW Washington, DC 20229 United States Tel: +1 202-325-8000 Website: www.cbp.gov One of the world’s largest law enforcement organisations charged with keeping terrorists and their weapons out of the US while facilitating lawful international travel and trade

ECONOMIC ANALYSIS CULTURAL HERITAGE AND THE ENVIRONMENT Department of the Interior 1849 C Street, NW Washington, DC 20240 United States Tel: +1 202-208-3100 Email: feedback@ios.doi.gov Website: www.doi.gov

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Produces economic accounts statistics enabling government and business decision makers to follow and understand the performance of the US economy, including such statistics as GDP and the balance of payments

USEFUL CONTACTS

The Department works to protect America’s natural resources and heritage, honours the country’s cultures and tribal communities and supplies the energy to power its future

The Bureau of Economic Analysis 1441 L Street, NW Washington, DC 20230 United States Tel: +1 202-606-9900 Email: customerservice@bea.gov Website: www.bea.gov

140

ORGANISATION INDEX

EDUCATION

FOREIGN POLICY

IMMIGRATION AND VISAS

U.S. Department of Education 400 Maryland Avenue, SW Washington, DC 20202 United States Tel: +1 800-872-5327 Email: customerservice@inet.ed.gov Website: www.ed.gov

U.S. Department of State 2201 C Street, NW Washington, DC 20520 United States Tel: +1 202-647-4000 Website: www.state.gov

U.S. Citizenship and Immigration Services (USCIS) 20 Massachusetts Avenue, NW Washington, DC 20529 United States Tel: +1 202-272-1219 Website: www.uscis.gov

The Department aims to ensure equal access to education and to promote educational excellence throughout the nation

EMPLOYMENT Department of Labor 200 Constitution Avenue, NW Washington, DC 20210 United States Tel: +1 866-487-2365 Website: www.dol.gov The Department of Labor aims to foster, promote, and develop the welfare of the wage earners, job seekers, and retirees of the United States; improve working conditions; advance opportunities for profitable employment and assure workrelated benefits and rights Equal Employment Opportunity Commission 131 M Street, NE Washington, DC 20507 United States Tel: +1 202-663-4900 Email: info@eeoc.gov Website: www.eeoc.gov

USEFUL CONTACTS

Is responsible for enforcing federal laws that make it illegal to discriminate against a job applicant or an employee because of the person’s race, colour, religion, sex (including pregnancy), national origin, age (40 or older), disability or genetic information

The lead federal agency carrying out US foreign policy with the aim to create a more secure, democratic and prosperous world for the benefit of both the American people and for the international community. It affirms on its website that “the United States has no closer ally than the United Kingdom”

HEALTH SERVICES The Department of Health and Human Services 200 Independence Avenue, SW Washington, DC 20201 United States Tel: +1 202-619-0257 Website: www.hhs.gov The United States government’s principal agency for protecting and enhancing the health and well-being of all Americans, providing effective health and human services and fostering advances in medicine, public health and social services

The government agency that oversees lawful immigration into the United States and ensures the integrity of the system USCIS London Field Office American Embassy (DHS/USCIS) PO Box 2444 London, W1A 5WT United Kingdom Email: uscis.london@dhs.gov The London Field Office has jurisdiction over US immigration matters in the UK, Republic of Ireland and Scandinavia National Visa Center For immigrant visa enquiries: Tel: +1 603-334-0700 For enquiries about J waiver status: Tel: +1 202-647-6575 For enquiries about visa cases and the application process: Tel: +1 202-663-1225 Email: NVCINQUIRY@state.gov Website: www.travel.state.gov

JUSTICE HOUSING Department of Housing and Urban Development 451 7th Street, SW Washington, DC 20410 United States Tel: +1 202-708-1112 Website: portal.hud.gov

Department of Justice 950 Pennsylvania Avenue, NW Washington, DC 20530-0001 United States Tel: +1 202-514-2000 Website: www.justice.gov To enforce the law and defend the interests of the US according to the law and to ensure public safety

This Department aims to create strong, sustainable and inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers

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ORGANISATION INDEX

141

TRADE AND MEMBERSHIP ORGANISATIONS (and, over the recent past, editorial contributors to this publication) TAXATION Internal Revenue Service (IRS) Website: www.irs.gov Provides America’s taxpayers top quality service by helping them understand and meet their tax responsibilities and by applying the tax law with integrity and fairness to all

TRANSPORTATION Department of Transportation 1200 New Jersey Avenue, SE Washington, DC 20590 United States Tel: +1 202-366-4000 Website: www.dot.gov The Department of Transportation serves the United States by ensuring a fast, safe, efficient, accessible and convenient transportation system that meets the national interests

TREASURY Department of the Treasury 1500 Pennsylvania Avenue, NW Washington, DC 20220 United States Tel: +1 202-622-2000 Website: www.ustreas.gov The mission of the Department of the Treasury is to act as steward of US economic and financial systems, and be an influential participant in the world economy

BritishAmerican Business 12 Phillimore Walk Kensington London, W8 7RX United Kingdom Tel: +44 (0) 207 290 9888 Email: ukinfo@babinc.org Website: www.babinc.org

American Wind Energy Association (AWEA) 1501 M Street NW Suite 1000 Washington, DC 20005 United States Tel: +1 202-383-2500 Website: www.awea.org

52 Vanderbilt Avenue 20th Floor New York, NY 10017 United States Tel: +1 212-661-4060 Email: nyinfo@babinc.org Website: www.babinc.org

AWEA is the national trade organisation representing entities with a common interest in encouraging the deployment and expansion of wind energy resources in the US

The leading transatlantic business organisation, dedicated to helping companies connect and build their business on both sides of the Atlantic, and publisher of this guide

Association of American Railroads 425 Third Street, SW Suite 1000 Washington, DC 20024 United States Tel: +1 202-639-2100 Website: www.aar.org Website: FreightRailWorks.org

Aerospace Industries Association (AIA) 1000 Wilson Boulevard Suite 1700 Arlington, VA 22209-3928 United States Tel: +1 703-358-1000 Email: aia@aia-aerospace.org Website: www.aia-aerospace.org AIA is the premier trade association representing the USA’s major aerospace and defence manufacturers

American Association of Port Authorities 1010 Duke Street Alexandria, VA 22314 United States Tel: +1 703-684-5700 Email: info@aapa-ports.org Website: www.aapa-ports.org

The world’s leading railway policy, research, standard setting and technology organisation focussing on the safety and productivity of the US freight rail industry

Association of American Universities (AAU) 1200 New York Avenue, NW Suite 550 Washington, DC 20005 United States Tel: +1 202-408-7500 Website: www.aau.edu AAU is an organisation of 62 leading public and private research universities focussing on issues of importance to research-intensive universities – funding for research, research policy issues and graduate and undergraduate education

A trade association representing more than 130 public port authorities in the US, Canada, the Caribbean and Latin America

USEFUL CONTACTS

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ORGANISATION INDEX

TRADE AND MEMBERSHIP ORGANISATIONS Continued Association of Executive Search Consultants 425 Fifth Avenue 4th Floor New York, NY 10016 United States Tel: +1 212-398-9556 Email: aesc@aesc.org Website: www.aesc.org

Biotechnology Industry Organization (BIO) 1201 Maryland Avenue, SW Suite 900 Washington, DC 20024 United States Tel: +1 202-962-9200 Email: info@bio.org Website: www.bio.org

The AESC is the professional body representing retained executive search consulting firms around the world

BIO is the world’s largest biotechnology trade association representing biotechnology companies, academic institutions, state biotechnology centres and related organisations across the United States and in more than 30 other countries

Association of University Research Parks (AURP) 6262 North Swan Road Suite 100 Tucson, Arizona 85718 United States Tel: +1 520-529-2521 Email: info@aurp.net Website: www.aurp.net AURP is a professional association of university related research and science parks fostering innovation, commercialisation and economic growth in a global economy

Association of University Technology Managers (AUTM) One Parkview Plaza Suite 800 Oakbrook Terrace Villa Park, Illinois 60181 United States Tel: +1 847-686-2244 Email: info@autm.net Website: www.autm.net

USEFUL CONTACTS

AUTM supports and advances academic technology transfer globally through education, professional development, partnering and advocacy

British Retail Consortium 21 Dartmouth Street London SW1H 9BP United Kingdom Tel: +44 (0)20 7854 8900 Email: info@brc.org.uk Website: www.brc.org.uk

Center for Automotive Research (CAR) 3005 Boardwalk Suite 200 Ann Arbor, MI 48108 United States Tel: +1 734-662-1287 Website: www.cargroup.org A non-profit organisation focused on a variety of trends and changes in the automobile industry and society at the international, federal, state and local levels. They are involved in the research of significant issues relating to the industry’s future direction

Global Business Travel Association (GBTA) 123 North Pitt Street Alexandria, VA 22314 United States Tel: +1 703-684-0836 Email: info@gbta.org Website: www.gbta.org

The British Retail Consortium is the lead trade association for the entire UK retail industry, working with Government to create the right conditions for growth and innovation

The world’s premier business travel and meetings organisation. Headquartered in the Washington, DC area, it has operations on six continents. GBTA’s 7,000-plus members manage more than $345 billion of global business travel and meetings expenditures annually

CBI (Confederation of British Industry)

GBTA Europe St Mary’s Court The Broadway Amersham, HP7 0UT United Kingdom Tel: +44 (0) 1494 590958 Email: enquiries@gbta.org Website: www.gbta.org/Europe

Washington DC 1110 Vermont Ave, NW Suite 1200 Washington, DC 20005 United States Tel: +1 202-530-0510 Email: usa@cbi.org.uk Website: www.cbi.org.uk London Cannon Place 78 Cannon Street London EC4N 6HN United Kingdom Tel: +44 (0)20 7379 7400 Email: enquiries@cbi.org.uk Website: www.cbi.org.uk The CBI is the UK’s premier business lobbying organisation, providing a voice for employers at a national and international level

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ORGANISATION INDEX

National Association of Foreign-Trade Zones (NAFTZ) 1001 Connecticut Ave, NW Suite 350 Washington, DC 20036 United States Tel: +1 202-331-1950 Website: naftzus.org NAFTZ connects global businesses with local communities through the US Foreign-Trade Zone programme

National Renewable Energy Laboratory (NREL) 15013 Denver West Parkway Golden, CO 80401 United States Tel: +1 303-275-3000 Website: www.nrel.gov Comprising the National Bioenergy Center, National Center for Photovoltaics and the National Wind Technology Center, NREL focuses on creative answers to todayâ&#x20AC;&#x2122;s energy challenges Security Industry Association (SIA) 8405 Colesville Road Suite 500 Silver Spring, MD 20910 United States Tel: +1 301-804-4700 Website: www.siaonline.org SIA is an international trade association with a membership of manufacturers, distributors etc of electronic physical security equipment

Solar Energy Industries Association (SEIA) 600 14th Street, NW Suite 400 Washington, DC 20005 United States Tel: +1 202-682-0556 Email: info@seia.org Website: www.seia.org The SEIA is the national trade association in the US and the power behind solar energy. Its member companies encompass research, manufacture, distribution, finance and construction of solar projects domestically and abroad

Telecommunications Industry Association (TIA) 1320 North Courthouse Road Suite 200 Arlington, VA 22201 United States Tel: +1 703-907-7700 Website: www.tiaonline.org The leading trade association representing the global information and communications technology industry through standards development, policy initiatives, business opportunities, market intelligence and networking events

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U.S. Chamber of Commerce 1615 H Street, NW Washington, DC 20062-2000 United States Tel: +1 202-659-6000 Website: www.uschamber.com The U.S. Chamber of Commerce is the worldâ&#x20AC;&#x2122;s largest business organisation representing the interests of more than 3 million businesses of all sizes, sectors, and regions

U.S. Green Building Council 2101 L Street, NW Suite 500 Washington, DC 20037 United States Tel: +1 202-742-3792 Website: www.usgbc.org The USGBC is a non-profit organisation committed to a prosperous and sustainable future for the USA, through cost-efficient and energy-saving green buildings

World Trade Centers Association (WTCA) 120 Broadway Suite 3350 New York, NY 10271 United States Tel: +1 212-432-2626 Website: www.wtca.org The WTCA stimulates trade and investment opportunities for commercial property developers, economic development agencies and international businesses looking to connect globally and prosper locally

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ORGANISATION INDEX

UK GOVERNMENT DEPARTMENTS GOV.UK The main UK government site that includes the websites of all government departments and many other agencies and public bodies, providing information on all policies, announcements, publications, statistics and consultations

UK Trade & Investment (UKTI) 1 Victoria Street London SW1H 0ET United Kingdom Tel: +44 (0)20 7215 5000 Email: enquiries@ukti.gsi.gov.uk Website: www.gov.uk/ukti UKTI is the Government Department that helps UK companies succeed in a global economy

Innovate UK North Star House North Star Avenue Swindon SN2 1UE United Kingdom Tel: +44 (0) 1793 442700 Email: support@innovateuk.org Website: www.innovateuk.gov.uk Innovate UK, formerly the Technology Strategy Board, is the UKâ&#x20AC;&#x2122;s innovation agency sponsored by the Department for Business, Innovation & Skills, that funds, supports and connects innovative businesses to accelerate sustainable economic growth

UKTI in the USA Atlanta British Consulate-General Georgia Pacific Center Suite 3400 133 Peachtree Street, NE Atlanta, GA 30303 United States Tel: +1 404-954-7700 Boston British Consulate-General One Broadway Cambridge, MA 02142 United States Tel: +1 617-245-4500 Chicago 625 N Michigan Avenue Suite 2200 Chicago, IL 60611 United States Tel: +1 312-970-3800 Houston British Consulate-General Wells Fargo Plaza 1000 Louisiana Suite 1900 Houston, TX 77002 United States Tel: +1 713-659-6270

Miami British Consulate-General 1001 Brickell Bay Drive Miami, FL 33131 United States Tel: +1 305-400-6400 New York British Consulate-General 845 Third Avenue New York, NY 10022 Tel: +1 212-745-0200 San Francisco British Consulate-General 1 Sansome Street Suite 850 San Francisco, CA 94104 United States Tel: +1 415-617-1300 Washington DC British Embassy 3100 Massachusetts Avenue NW Washington DC 20008 United States Tel: +1 202-588-6500

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Los Angeles British Consulate-General 11766 Wilshire Boulevard Suite 1200 Los Angeles, CA 90025-6538 United States Tel: +1 310-481-0031

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