$ The Most Expensive States for Business $

For the second year in a row, Hawaii, New York, and Alaska (consecutively) are the most expensive states for businesses. According to the Milken Institute Cost of Doing Business Index--which measures wage costs, taxes, electricity costs, and real estate costs for industrial and office space--all three states increased their overall costs, especially electric.

South Dakota maintained its position as the least expensive state for business, followed by Iowa, North Dakota, and Nebraska.

Click for the official press release: PressRelease_CODB_FINAL.doc

Expansion News and Views: From Iowa to Namibia

- Snap-On Tools broke ground yesterday on a $12 million facility in Algona, Iowa. The investment will add 51,000 square feet to an existing plant, and create 30 new jobs. The state and the Kossuth-Palo Alto County EDC awarded the company $2.8 million for the expansion, and the city offered a $300,000, 10-year loan and $250,000 worth of job training. (The Messenger, Iowa)

- Continental Airlines is trying to decide which airport to throw $45 million at for an expansion. Will it be Newark, Cleveland, or Houston? The expansion could bring up to 700 jobs to the region. And bragging rights. (Cleveland Plain Dealer)

- Those crafty developers from down under are getting set to move into the U.S.! Australia's Macquarie Goodman, the world's second largest industrial property trust, has spent $5 billion over the past 18 months to build its Euro and Asian platforms, and now is looking towards America. The trust would be going head-to-head with their biggest competitor, U.S.-based ProLogis. Look out for themŃthey expect to be a major presence within two years. (Reuters)

- Auto Owners Insurance Group plans to build a $45 million, 96,00 square-foot data center in Lansing, Michigan, adding 80 new jobs. the new facility will be near its corporate headquarters. On Monday, Delta Township voted to sell a half-acre of land to the company for $1. That's right, one hundred pennies. The township is also paying $24,000 in water and sewer connection fees. (The Lansing State Journal)

- First Jamaica Trust Limited (FJT) is seeking $25 million to develop real estate in Jamaica and Central America. On Wednesday, the International Monetary Fund proposed the full loan to FJT. The Trust invests through its property management firm which manages around 750,000 square feet of commercial and residential space in Kingston. (The Jamaica Observer)

- Speaking of Kingston, earlier this month, the mayor of the city, Desmond McKenzie, gave a speech in Massachusetts. He urged Jamaicans living in Boston to invest more of their savings in the country's development, to help restore the country's economic viability. (The Jamaica Gleaner)

- The World Bank approved a $7.5 million loan to support education and training of Namibia's workforce. This is the first part of a program called Namibia's Education and Training Sector Improvement Program (ETSIP1), a five-year, $357 million program to train workers and attract business. I hope it works, because that's a lot of money to pay back.

Weekend Expansions Update

$ Quatro Composites is expected to complete their new Orange City, Iowa, plant expansion by August 2007. Quatro is also moving its Poway, California-based offices to a larger facility in May to accommodate staff and R&D growth.

$ Cobasys, a battery manufacturer, confirmed the addition of 18,860 square feet to its headquarters in Orion, Michigan, to be completed by July. Cobasys is the only North American manufacturer supplying NiMH battery systems for hybrid vehicles, including the Saturn Vue Green Line and the Chevrolet Malibu hybrid.

$ VienTek, a joint venture between Mitsubishi Power Systems Americas and TPI Composites, launched plans to triple the capacity of their wind blade manufacturing operation in Juarez, Mexico. The expansion, to be completed in October, will include two plants with a total of 500,592 square feet of manufacturing space and 800 employees.

$ Air Arabia, the first low-cost airline in the Middle East and North Africa, announced today that it will construct a hotel at Sharjah Airport in Dubai. The 300-room hotel will cost $350 million AED, or over $95 million US dollars.

$ Bell Equipment, a South Africa-based earthmoving equipment manufacturer, is currently embarking on a $40 South African Rand, or about $5.5 million US dollar, upgrade of its Cape Town manufacturing and customer support facilities. The project is due to an expansion of the construction sector in Cape Town and the growth of diamond operations on the west cost of the country.