The New Southeast Aerospace Cluster

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THE NEW AEROSPACE CLUSTER IN THE SOUTHEAST USA

Eliot NormanEliot Norman

Williams Mullen Williams Mullen

www.williamsmullen.com

enorman@williamsmullen.com001/804.420.6000001/804.420.6000

Washington, DC USA Washington, DC USA

John Elink-Schuurman

Managing Director-Europe

Business Attraction

Virginia Economic Development Partnership

Phone:  804-545-5756

Mobile: 804-305-1756

jelink-schuurman@yesvirginia.org

www.yesvirginia.org

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Part I: Introduction

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Des notions essentielles :exemples des journaux

• Walll Street Journal: Observation d’un Belge (Olivier Legrain, CEO , Ion Beam applications) (proton therapy): « the entreprenurial spirit—to me, is part of the DNA of America)

• Le Figaro: Gaz de Schiste (USA)

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La Carte

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THE NEW AEROSPACE CLUSTER IN THE SOUTHEAST USA

Part 2: Les Nouvelles Part 2: Les Nouvelles Opportunités Opportunités

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• Mobile, AL (Airbus)• Melbourne, FL (Embr)• Savannah, GA (Gulfstream-General Dynamics) • Charleston, SC (Boeing)• Greensboro, NC (Hondajet)• Durham, NC (GE Aviation)• Prince George, VA (Rolls-Royce)

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INVESTMENTS

• Gulfstream – Savannah, GA– Announced in 1966 and has grown since

– By 1982, 2,500 employees

– 2006: $400 million 7-year plan to expand manufacturing and service facilities (additional 1,100 jobs)

– Research and Development Center – 750 employees

– 2007: additional manufacturing and engineering buildings

– 2010: $500 million 7-year expansion (additional 1,000 employees)

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INVESTMENTS

• Hondajet – Greensboro, NC– $60 million/300 jobs for HQ

– $80 million/419 jobs for manufacturing plant

– Announced February, 2007

– World headquarters and Maintenance Repair and Overhaul (MRO) and component parts manufacturing plant

– 500,000 square feet on 80 acres

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INVESTMENTS

• GE Aviation – Durham, NC– 320 jobs– Announced in 1993 and has grown since– 500,000 square feet on 500 acres– Aircraft engines (GE90 and GEnx) – Expansion into South Carolina: turbine

blades and airfoils

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The Big 3

• Rolls Royce

• Boeing

• Airbus

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INVESTMENTS

• Rolls-Royce – Prince George, VA– $500 million/500 jobs– Announced November, 2007– 1,100 acre site with “supplier park” – First factory - $170 million / 150 jobs (180,000 s.f.)– Manufactures turbine disc components for

Dreamliner (Boeing 787) and Airbus 380 – Second plant to be announced in 2012: – Third factory: in near future – Founder: Commonwealth Center for Advanced

Manufacturing (CCAM)

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South Carolina

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INVESTMENTS

• Boeing – Charleston, SC– $750 million/3,800 jobs (some expect

greater than 6,000 jobs by 2016)– Announced October, 2009– 787 Dreamliner final assembly and

delivery line: deliveries began April 2012. now manufacturing interior components

– 1.2 million square foot facility18

INVESTMENTS

• Airbus - Mobile, AL– $600 million/1,000 jobs

– Announced July, 2012

– A320 family jetliner final assembly line

– Only site in Western Hemisphere to assemble Airbus aircraft

– Airbus and parent EADS North American Headquarters are in Northern Virginia

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•

•Alabama

•Welcome, Airbus! •The future home of Airbus’ U.S. A320 Family final assembly line is strategically positioned to benefit from water, road, rail and air links – facilitating the company’s first-ever production of jetliners on American soil.

•This production facility will comprise 53 acres of buildings, aprons and roadways contained within a 116 acre site – with the option for future expansion. The location at Mobile, Alabama’s Brookley Aeroplex places it in the middle of the Gulf Coast aerospace cluster, between Mississippi and the Florida Panhandle.

•Being situated on Mobile Bay adjacent to the Port of Mobile will enable Airbus to deliver fully-equipped aircraft sections from the European continent to Brookley Aeroplex via standard freight container ships.

•Some U.S.-origin parts for jetliners built at Brookley Aeroplex will be supplied directly to the facility using the Class 1 network of railroads and interstate road system that serve the region.

•Flight testing and customer delivery of A320 Family aircraft from the U.S. final assembly line will be made at Mobile Downtown Airport, located within the Brookley Aeroplex, which has two existing runways with lengths of 9,600 ft. and 7,800 ft.

•Airbus’ Alabama Location •Airbus Assembly Line View

•Location: Mobile, Alabama •Announced: July 2, 2012 •Production Start: 2015 •Products: A319, A320, and A321 •aircraft •Investment: $600 million •Job Creation: 1,000 jobs within the •production facility

•“The time is right for Airbus to expand in America. Mobile is now becoming part of Airbus’ global production network, joining our successful and growing assembly lines in Hamburg, Toulouse and Tianjin.”

•- Airbus President & CEO Fabrice Bregier

• Economic Development Partnership of Alabama www.edpa.org

THE NEW AEROSPACE CLUSTER IN THE SOUTHEAST USA

Part 3: Les Opportunités Part 3: Les Opportunités Supplémentaires Supplémentaires

• Government Business• HQ for U.S. Operations• Space Sector • Using Southeast as

Manufacturing

Center for Worldwide

Exports 21

Its not just about Commercial Business

• Department of Defense Dollars and Military

• Orientation of Boeing, EADS, Government sales• Virginia $56+ Billion #1 among 50 States, 5,000 Defense

Contractors in Virginia – Defense Contractors HQ Northern Virginia:

General Dynamics, Northrup Grumman, Boeing

SAIC, Booz Allen, CACI, CSC, Raytheon, Thales,etc.

• So Locate where the decisions are made

• South Carolina $3 Billion• Alabama $10 Billion Alabama : Huntsville Aerospace/Defense

Community Huntsville Marshall Space Flight Center

• Consider State Government Business (50 Customers)

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Headquarters HQ

• Solution: la banlieue virginienne de Washington DC

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HQ: Fairfax County (Va) Location• Prime US east coast

location.• Washington, D.C. metro

area• 60% of the U.S.

population within one to two-hour flight of Fairfax County:

• Washington-Baltimore-Northern Virginia area is 4th largest US market

• Immediate ACCESS to U.S. Government and Dept. of Defense

• (Population 8.7 million)24

;

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Foreign-owned Firms (395)

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European Companies

Sources: Fairfax County Economic Development Authority, Dun & Bradstreet

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.. of which are Aerospace Firms

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SPACE Business

• Strong in the Southeast

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Case Example: Huntsville Alabama

• Marshall Space Flight Center– Responsable for launch vehicles, propulsion

systems, space station programs– Heritage: Werner Von Braun and Redstone

Arsenal (U.S. Army): Saturn V Rocket, Apollo 4, rocket boosters for Space Shuttles

– 400 aerospace/defense companies– Boeing, Lockheed Martin, SAIC, Northrup

Grumman, Raytheon, Teledyne Brown

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Case Example: Space in Virginia and NASA

• Space launches from NASA Wallops Flight Facility – Mid-Atlantic Regional Spaceport (MARS)

• $145 investment in launch pad by Virginia Government• Orbital: 10 Missions with Antares Rockets to International

Space Station Begin April 2013• Space systems integration expertise at NASA Langley Research Center• Orbital Sciences Corporation manufactures satellites near Dulles Airport, Virginia

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Aerospace Exports from the United States: Another Reason to Manufacture “ dans la Zone Dollar”?

• A growth opportunity • Comment y participer? • Size of U.S. Aerospace Exports Market: $85

Billion • 72% of all civil aircraft and component

production: exported from the USA• 42% of all U.S. aerospace production is exported • Positive Trade Balance: $44 Billion for U.S.

Aerospace Industry• Southeast mirrors national figures

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Aerospace Exports from U.S.

• Alabama:

•

ALABAMA

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Southeast: Center for Exports

• Supply Chain Logistics • Volatility of Currency Exchange Rates

– Dollars against the Euro

• Contracts: in Dollars• Lower Production Costs than EU• Government Incentives favoring Exports

– Foreign Trade Zones (FTZ)– Export-Import Bank www.exim.gov

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IC DISC StructureSummary of Benefits

1. IC DISC can be paid commissions• Statutory formula – not required to be Arms

Length• Greater of - 4% of gross export sales from the

USA, or 50% of taxable income on those sales

2. Can get Rate Arbitrage• Commission deduction – up to 40% benefit (Fed &

States)• Payment from IC DISC to Qualified Foreign Co –

likely zero Withholding Tax.• Replaces dividends from fully taxed income of

ABC Aerospace, Inc. (USA) with deductible commissions followed by Dividend from IC-DISC

3. IC DISC may also be used for export finance• May receive factoring fees of 2-3%• Additional Commission $3M for $100M export

sales, resulting in additional $1.2M tax savings

Issues

1. Need to structure properly to get rate benefit

ABC Aerospace SA(Toulouse)

ABC Aerospace USA Inc. (South Carolina)

(deducts Commissions)

IC DISC (ABC Exports, Inc.Non-taxable

(South Carolina)

Commissions

Dividends

Bottom Line: Reduce U.S. Taxes on Exports by 35% to 40%.

IC DISC Structure – Illustrative ExampleSummary of Calculation

1. IC DISC calculates commissions• Determines Export Sales and related COGS

• Assumed 25% Gross profit here• Allocates and Apportions SG&A

• Assumed 10% SG&A on export sales

2. IC DISC receives commissions• 50% of taxable income on export sales

3. IC-DISC may also receive factoring Income

4. IC-DISC is not taxed on its profits

5. IC DISC pays dividend to foreign owner• Payment from IC DISC to Qualified Foreign Co –

likely five percent or zero Withholding Tax.

Issues

1. Maximization of benefits needs to be calculated correctly

IC-DISC 12/31/2012

TAX IMPACT OF DISC No detail considered - 25% Gross Profit

Sales 100,000,000

COGS (75,000,000)

Gross profit 25,000,000

S.G.& A. * (10,000,000)

Net income 15,000,000

Commission calculation: 4% of sales 1 4,000,000 50% of profits 2 7,500,000

Commission (greater of 1 or 2) 7,500,000 = Taxable income of IC-DISC

Tax benefit C-Corp 40.0% 3,000,000

Dividend withholding tax ** 5.0% (375,000)

Tax savings Fed & states 2,625,000 (Based on 0% Dividend W/H Rate)

* SG&A on export sales generally less as exclusions apply Assumed overall net profit achievable on exports 15%.

** Based on 5% withholding Tax

For Illustration Purposes only

• IC DISC provisions have been in US tax code since 1971• IC DISC is nontaxable and can be owned by a non-US company• If IC DISC owner is owned by a shareholder who has a treaty with the USA that was

ratified after 1984 the tax treaty would control the taxation of the dividend paid from the IC DISC to its parent – last in time rule

• Under certain circumstances the US / Denmark treaty the withholding tax rate is zero

How an IC-DISC works: • IC DISC ABC Exports, Inc. is formed as a sister company to ABC Aerospace USA , Inc. • ABC Aerospace USA, Inc. pays IC-DISC ABC Exports, Inc. a commissionon on exports • ABC Aerospaced USA , Inc. deducts commission from ordinary income taxed at 35

percent federal tax (possibly it is also deductible for state tax purposes)• IC-DISC ABC Exports, Inc. pays no tax on the commissions on exports • IC DISC can pay a dividend to ABC Aerospace SA, Toulouse, France, effectively

repatriating 50% of the profits on Exports to France • Result is 35 – 40% percent tax savings on commissions and substantial subsidy to

finance exports or other operations of ABC Aerospace USA, Inc. in the United States.

Summary of IC DISC “Incitations Fiscales”

Conclusion : Les Opportunites dans le Sud-Est des USA

1. Boeing, Embraer, Rolls Royce, Airbus, General Dynamics, GE/Honda, GE, etc.

2. Defense Department Business & 50 States

3. Establish an HQ for commercial and government business near Washington D.C.

4. Worldwide Manufacturing Center for Exports « avec les incitations fiscales du gouvernement federal »

5. Space and Aerospace

6. Multiple Customer Market:

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PART 4: WHY THE SOUTHEAST?

Answer: The 50 States: are not all the same. No Accident: New Aerospace Cluster Is in the Southeast

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WHY THE SOUTHEAST?

• Quality of Life– low crime rate– availability/quality of

health care– cost of living– recreational opportunities– cultural opportunities– quality of education (K-12 & universities)– housing opportunities and costs

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THE NEW AEROSPACE CLUSTER IN THE SOUTHEAST USA

Part 4: Pourquoi Le Part 4: Pourquoi Le Southeast?Southeast?

John-Elink SchuurmanJohn-Elink Schuurman

Directeur,Directeur,

Virginia Economic Development Virginia Economic Development PartnershipPartnership

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WHY THE SOUTHEAST? Top states for business(Virginia)

Forbes.com CNBC Pollina Corporate Real Estate, Inc.#2 Best States for Business #3 Top States for Business #2 Most Business Friendly State

Forbes.com•Business costs•Labor Supply•Regulatory Environment•Economic Climate•Growth Prospects•Quality of Life

CNBC•Cost of Doing Business •Workforce•Quality of Life•Economy•Transportation & Infrastructure•Technology & Innovation•Education•Business Friendliness

Pollina•19 business climate categories including taxes, human resources, right-to-work legislation, energy costs, infrastructure spending, worker compensation legislation, and jobs lost or gained •13 state government-controlled factors such as financial incentive programs and state economic development department evaluations

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WHY THESOUTHEAST?

WHY THE SOUTHEAST? Resources:

TransportationSites

Infrastructure

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WHY THE SOUTHEAST?

• Sites– availability of sites, including airport

sites– need large sites– under control– engineered, etc.– all utilities– rail access, etc.

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WHY THE SOUTHEAST?

• Lower operating costs

– electricity costs 5.9

cents per KW Hour (SC)

6.15 cents per KW Hour (VA)

California (9.2 cents) New York (12.49 cents)

– lower taxes– land costs (often donated)– lower workers’ compensation rates– lower unemployment insurance rates

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Why the Southeast • Transportation assets: Southeast may be

#1in USA – Ports: Norfolk, Charleston, Mobile,

Savannah : deep water, supply chain

advantages. Panamax at Norfolk

– Airports:

• VA: 9 commercial, 57 general aviation, 47 FAA repair facilities, MRO firms employ 1400 persons

• Dulles International: 34% lower costs for air cargo than JFK in NY, next day service to Southeast

• Alabama: airports important for Airbus and MRO: (Mobile 6,000 ft and 7,000 ft runways)

– Roads I-55, I-95, I-85 I-77 (multiple interstates)

– Rail (Norfolk Southern and CSX)

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A look at the Map

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SAME DAY DELIVERIES THROUGHOUT THE SOUTHEAST

WHY THE SOUTHEAST?

Government = pro-business

Yes, there are variations among the Yes, there are variations among the states in terms ofstates in terms of

• regulation of businessregulation of business• encouraging business encouraging business

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WHY THE SOUTHEAST?

• Pro-business regulatory environment– taxation– environmental– OSHA– government “attitude” is friendly toward

manufacturing– Legal issues (to discuss later)

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WHY THE SOUTHEAST?

• Right to work States – important consideration– Union penetration 2% to 4%– all Southeastern US states have right to

work laws

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WHY THE SOUTHEAST?

• Workforce– skilled trades– training programs– community colleges– availability of workers

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WHY THE SOUTHEAST?

• Wages plus Qualite de Vie – Makes

Southeast

competitive

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Workforce Advantages : Example of South Carolina

• Right to work state

• Rate of unionization in manufacturing: 1.6%: 2nd lowest in USA

• Low cost business-friendly climate• 180 related aerospace companies,

– 20,000 workers • South Carolina a été classé No.1 à l’échelon national pour sa part de

main-d’œuvre employée par des entreprises étrangères.  En 2009, les investissements étrangers représentaient 19% du capital d’investissement et 13% des emplois totaux créés.

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Workforce Advantages: Example of Virginia

• Right to Work State • 8,900 people in Virginia make aerospace products• 4,000 people in Virginia make composite products• 5,300 people in Virginia work in machine shops • TOTAL AEROSPACE Workforce: 29,200 at 230

firms

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WHY THE SOUTHEAST?

• Large Number of Graduates from University Engineering Programs

• NASA (provides a highly qualified aerospace engineering pool)– NASA Langley (VA)

– NASA Stennis (AL)

– NASA Melbourne (FL)56

Part Five: What Methodology and

Analysis Should Apply to a Decision to Locate within the Southeast Aerospace Cluster ?

Key Factors: Key Factors:

Long-term not short-term; Long-term not short-term;

Can you be competitive? Can you be competitive?

Innovation and R&D;Innovation and R&D;

Avoid dependence on 1 customer; Avoid dependence on 1 customer;

Multiple Markets and Customers: Multiple Markets and Customers: Government &, Commercial; Government &, Commercial;

Incentives and Long-Term Business Incentives and Long-Term Business Costs Costs 57

VIRGINIA’S COMPETITIVE COST OF DOING BUSINESSUSE THIS CHART FOR OTHER STATES: ALABAMA, SC, NC, GEORGIA

Virginia

Right-to-Work Yes

6.00%

Single Sales Factor Apportionment Yes

Sales and Use Tax 5.00%

Average Workers’ Compensation Insurance for Manufacturers (VA 44% lower than National Avg., 4th lowest in Nation) (Loss cost portion for code 4484—companies engaged in composites and related manufacturing is $1.65)

$2.09

Unemployment Insurance Tax Per Employee (VA 32% lower than National Avg., 3rd lowest in Nation)

$155

Average Industrial Electric Rate (cents per kilowatt hour--8% lower than national average)

6.15

Average Price of Natural Gas Delivered to Industrial Customers (dollars per thousand cubic feet)

6.68

State Corporate Income Tax

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VIRGINIA’S AEROSPACE STRENGTHS : COMPARE WITH OTHER STATES USING SAME CRITERIA: SOUTH CAROLINA, ALABAMA, NC, GEORGIA, ETC.

Military

R&D

Space

Airports

MFG

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INVESTMENTS• Rolls-Royce – Prince George, VA

– $500 million/500 jobs– Announced November, 2007– 1,100 acre site– First factory- $170 million / 150 jobs (180,000 s.f.)– Manufactures discs for Dreamliner (Boeing 787);

A380. – Second factory to be announced soon: – Founder: Commonwealth Center for Advanced

Manufacturing (CCAM)

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Clusters and Mini-Clusters

South Carolina Mini Clusters

• Aerospace Manufacturing

• More than Boeing and its direct suppliers• 2009 GE aviation: turbine airfoils &

blades • BAE: electronics engineering• GKN: all composite fuselage for HondaJet light

business jet . (HondaJet is in North Carolina) • Honeywell International • Message: diversification of opportunities

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Innovation Decision Factors

R&DR&D

University Research Centers University Research Centers

Government Research CentersGovernment Research Centers

Consortium: Business & Universities for Consortium: Business & Universities for

Advanced Manufacturing Advanced Manufacturing

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VIRGINIA’S R&D ASSETS

Defense Advanced Research Projects Agency—directs and conducts military research

NASA conducts aerospace research at its Langley Research Center and Wallops Flight Facility

National Institute for Aerospace—conducts research and awards advanced degrees in aerospace engineering through a partnership with nine universities: Airbus contracts with the Institute

Commonwealth Center for Aerospace Propulsion Systems—a joint UVA-Virginia Tech—Rolls-Royce research effort

Virginia Modeling and Simulation Center—applies simulation techniques to solve problems and provide training for industry, military and governments

National Center for Hypersonic Combined Cycle Propulsion—advances understanding of critical mode transitions and supersonic/hypervelocity flow regimes of combined cycle propulsion

The Naval Surface Warfare Center Dahlgren Division—the premier research and development center for advanced weapons system integration

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R&D Alabama and Virginia

• Huntsville Cummings Research Park: 2nd largest R&D Technology Park in USA

• National Institute of Aerospace (Virginia): has R&D contract with AIRBUS

• Center for Aerospace Propulsion Systems: Univ. Of Virginia, Va Tech & Rolls Royce

• NASA Research: Langley Research Center, Wallops Flight Facility, (Boron nitrate nanotubes, etc)

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Best-in-class manufacturers & Virginia’s flagship universities

Delivering “production-ready” manufacturing solutions while combining the speed & ROI expectations of business with the intellectual rigor and innovation of universities.

CCAM (Virginia)

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• A global Center of Excellence in advanced manufacturing research

– Manufacturing Systems– Surface Engineering

• Focus on translation research– Accelerate new technologies into

commercialization– Reduce cost and improve quality– Complement with workforce training

efforts

• CCAM growth in 5-10 years to:– 10 year business plan & financial model

complete– ~60 Employees (49 PhD Researchers)– 35 graduate research assistants resident

at CCAM– 35 undergraduate interns resident at

CCAM– More than 30 Industry Members– $15-20 Million annual research budget

Aerospace

Energy

Shipbuilding

Transportation

Electronics

Automotive

Defense

VisionCCAM

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AEROSPACE IN VIRGINIA: USE THIS TYPE OF CHART FOR OTHER STATES: ALABAMA, SC, NC, GEORGIA

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Incentives (Les Incitations

Fiscales)

Are they the whole story? Are they the whole story?

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Incentives

• Incentives: Different types – tax credits– cash grants / closing funds– payroll tax rebates– donation of land– special legislation performance grants

(Aerospace) – job training funds– Enterprise Zones– collaboration with universities

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COMPARABLE PROJECTS

Project Name Why Virginia Won the Deal

Rolls-Royce Crosspointe($501.4 million/642 jobs)

•1,000+ acre, publically-owned site zoned industrial•Proximity to U.S. headquarters, transportation, and deep labor base•Creativity in solving higher education & workforce development needs•Performance grants to encourage aerospace cluster development

Canon($623.5 million/1,032 jobs)

•Long-term relationship with the locality•Creation of a workforce development plan heavily influenced by the company’s needs

RTI International Metals($100.0 million/150 jobs)

•Publically-owned, partially constructed building with expansion potential•Ample labor force in a non-union environment•Financial solution lowering upfront costs

Orbital($45.0 million/125 jobs)

•Long-term relationship with the Mid-Atlantic Regional Spaceport (MARS) •Wallops Island location allowed for a shared political support between Virginia and Maryland•Structured bond response

Merck($250.0 million/70 jobs)

•Demonstrated productivity of existing workforce•Company desire to diversify asset locations•Virginia’s positive regulatory environment and strong relationship with local government

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Why is a State a Top state for business? Incentives are only one consideration.

Forbes.com CNBC Pollina Corporate Real Estate, Inc.#2 Best States for Business #3 Top States for Business #2 Most Business Friendly State

Forbes.com•Business costs•Labor Supply•Regulatory Environment•Economic Climate•Growth Prospects•Quality of Life

CNBC•Cost of Doing Business •Workforce•Quality of Life•Economy•Transportation & Infrastructure•Technology & Innovation•Education•Business Friendliness

Pollina•19 business climate categories including taxes, human resources, right-to-work legislation, energy costs, infrastructure spending, worker compensation legislation, and jobs lost or gained •13 state government-controlled factors such as financial incentive programs and state economic development department evaluations

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Part 6: What Preparation and

Assistance is Required if your company

decides to Locate in the Southeast?

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Your Economic Development Team

• Can assist with preparation of business plans, analysis, using multidisciplinary experts: site selection consultants/engineers, accountants, investment bankers,

• Choose advisors who have played key roles in major economic development projects

• Negotiate packages of incentives for foreign multinationals– Contract formalities– Le diable se trouve dans les details, les garanties de nouveaux

emplois , etc., les “Performance-Based Grants”

• Evaluate competitive offers from different states, regions and clusters

• Can assist with finding financing from Private Equity, Commercial Lenders, or advising on M&A as strategy for entry into the U.S. market

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Your Legal Team: Services Essentielles

• Government relations, federal, state, local • Commercial supply contracts, subcontracts• Government supply contracts, subcontracts • Visas/Immigration • Real estate, land use, environmental permits• Corporate and tax law,• M&A, raising capital from private equity, debt/mezzazine

financing • Advice on imports/exports, including IC Disc for exports• Export Controls compliance , including consultants & legal• Supply chain logistics: international trade issues ( ALENA ou

NAFTA options) • Labor, employment, benefits • Intellectual Property

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Conclusion

Lets look again at The Maps

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Conclusion • Southeast cluster can be more than simply

another local market• It can be your center for innovation, R&D,

networking within the cluster and your base for worldwide exports—subsidized by U.S. government (IC DISC)

• With the right team to plan your start-up and guide your business expansion, you can participate and compete in the dollar zone

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Thank You

Eliot Norman, Esq.enorman@williamsmullen.com

www.williamsmullen.com001/804.420.6000

Washington, DC USA

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Questions? Questions? Eliot Norman, Esq.enorman@williamsmullen.com

Williams Mullen 1666 K Street NW Suite 1200 Washington DC 20006 Direct Dial: 804.420.6000www.williamsmullen.com

•John Elink-Schuurman

•Managing Director-Europe•Business Attraction•Virginia Economic Development Partnership•Phone:  804-545-5756•Mobile: 804-305-1756•jelink-schuurman@yesvirginia.org•www.yesvirginia.org