By the BF StaffFrom the September/October 2019 Issue
Industrial real estate demand reached new heights in 2018 and, according to CBREs 2019 Outlook Report, this trend is continuing through 2019. There has been a tremendous demand for logistics properties of all types; Class-A big-bulk warehouses are leading the surge, which has been broad-based and extends down to secondary and tertiary markets.
E-commerce is driving growth, CBRE reported, and this includes some brick-and-mortar retailers who are expanding online operations. Net absorption resulting from e-commerce growth is expected to average between 75M SF and 94M SF in 2019, and a lack of new supply has driven vacancy levels down to 4.3 percent, a historic low. CBRE says that an increasing number of online retailers are opening physical stores to grow their business and retain more customers.
The recent trend toward multistory warehouse developmentspurred by rising building costs and the decreasing availability of landis continuing to grow in U.S. metro areas. Rents for multistory industrial facilities can be two or three times those of traditional industrial facilities.
According to the CBRE report, real estate markets are buzzing with innovation. The amount of completed new buildings has steadily increased around the world over the last three years in the industrial, office and multifamily sectors. However, unlike past cycles, it is not a speculative surge, but a more controlled rise in stock that matches the increase in demand that has come from a decade of economic growth and corporate expansion.
Picture booming industries and a large workforce thriving in their professional and personal lives. Visualize a place where commerce, community and convenience intersect the place, in fact, where Volvo Car USA built its first-ever U.S. manufacturing plant in 2015, creating nearly 4,000 jobs and $4.8 billion in annual economic impact by itself. A place with a dedicated interstate interchange, rail service and essential technology infrastructure, close to a major port and international airport.
Youve arrived at Camp Hall.
Camp Hall Industrial Commerce Park in South Carolina is a new breed of commerce parkone specifically designed to connect people, place and industry. Master-planned for ultimate functionality and the demands of 21st century industries, Camp Hall is designed so that businessand its workforcecan truly thrive. Site-development opportunities range from seven to 600 acresa wide range of parcel sizes allowing for maximum flexibility to meet industry-specific needs. Beyond flexible site opportunities, Camp Hall brings an entirely new dynamic to the concept of a commerce park for several reasons.
Camp Hall is thoughtfully designed to provide worldwide access, achieve an attractive quality of life for the workforce and make the most of the regions natural surroundings.
This is achieved through intuitive, existing infrastructure including entire arterial roadways. A dedicated interchange just opened providing direct access from I-26 for trucks while facilitating employee commutes from nearby residential developments, which are located so that commuting actually tracks against the metropolitan areas major traffic patterns. In addition to this easy interstate connection, Camp Hall offers comprehensive transportation networks for global access, including close proximity to airports and deepwater ports. Also onsite are both redundant and diverse power supply as well as fiber, major gas transmission lines, significant water as well as sewer. Rail service connecting to CSX is currently being extended.
One of the most unique elements of Camp Hall is how it incorporates state-of-the-art technology with systems to support modern enterprise. Onsite amenities underway for employees such as park-wide Wi-Fi, dedicated open space, walking trails, gas stations and health centers, and so much more are part of life at Camp Hall. All the while, the eco-friendly design maintains adaptability for future growth.
The Charleston regions commitment to a thriving business climate and economic development is evident with recent growth in the aerospace and automotive industries, just to name a couple of examples. From Fortune 500 corporations to thousands of small- to mid-sized businesses, the Charleston area offers an unparalleled quality of lifeits a place where the workforce can thrive among modern conveniences while engulfed in the rich culture of the South.
The Charleston regions geographically diverse landscape offers a year-round moderate climate and puts residents a short drive from the beach and the mountains. Camp Hall is just 27 miles from Charleston International Airport and 104 miles from Myrtle Beach International Airport. It is also located at the center of the industrial growth trend for the greater Charleston area.
In the Charleston market, building-permit issuance has steadily increased since 2011. The vacancy rate of residential rental units trends down year over year, while the average rent sees growth of 6 percent year over yearand thats because people are flocking to the area for its job opportunities and quality lifestyle. Theres been a 19 percent increase in population since 2009, and a 6.2 percent population increase is projected annually. New single-family closings have been steadily on the rise, too.
For the broader industrial market, vacancy rates have been steadily falling for one simple reason: Businesses understand the endless potential of the region and opportunity it provides. Four planned residential communities within less than a 30-minute drive of Camp Hall have approximately 37,000 planned residential lots. And, eight of the top 10 selling residential communities within the Charleston MSA (closing in combination over 1,000 houses annually) are within a 30-minute drive. The ample, affordable and easily accessible housing options for the Camp Hall workforce further create a cohesive community for work, play and life.
People arent just coming for the fresh air and proximity to the beachthe job opportunities are endless in the region. Job growth here exceeds both state and national levels, and is expected to increase 10-15 percent over the next 10 years.
With a healthy blend of young, skilled and seasoned employees, the Camp Hall market stands ready with a workforce of nearly 500,000 available workers. The Charleston area has a slightly higher than national average number of millennials, providing potential employers with a better ability to recruit train and retain younger employees for their operation.
The region holds a higher percentage of individuals with advanced educational attainment compared to the South Carolina and national population. More than 40,000 students are enrolled in 24 colleges, universities and technical schools in the areaand each produces highly skilled workers who help drive business growth. And thats no accident. By strategically aligning business with education, the Charleston market offers employers a workforce development advantage.
With over 15,000 jobs anticipated, 4,000 of which are already committed, Camp Halls unique approach keeps that workforce at the center of every design detail.
Continued employment growth is expected across all sectors, driven largely by hospitality, construction, education and health.
Fast-forward from Volvos big decision in 2015 to the official Camp Hall groundbreaking in June 2018, and then, to the completion of the trail systems first phase in spring 2019, past various milestones and openings, and arrive at the opening of the I-26 and Volvo Car Drive interchange in August 2019. Fast-forward several years beyond that and youre sure to find a successful, thriving commerce park that once dared to approach a blueprint in entirely new ways. Be a part of the growth. Find out more about Camp Hall by visiting CampHall.com today.
Quonset Business Park is the leading place for manufacturing in Rhode Island. Among the parks nearly 12,000 jobs, 59 percent are in manufacturing. According to a recent study from Bryant University, Quonset now represents 17 percent of total manufacturing employment in Rhode Island, and the number of jobs there is only expected to grow. The North Kingston-based park added 975 manufacturing jobs in 2018 alone.
While the number of jobs increased at the park, wages have risen as well. The average wage at Quonset Business Park is 19 percent higher than the statewide average. From 2015 to 2018, the average wage at Quonset rose twice as fast as wages in the rest of the state.
With continued public and private investments to support development and buildout at the park, Quonset could support 32,546 jobs in Rhode Island, create $1.87 billion in income for Rhode Island households and produce $6.2 billion in Gross Domestic Product by 2030, the Bryant study found. Quonset Business Park represents a successful model for economic development that anticipates the needs of businesses with an efficient development approach that encourages business and job growth. So what is it about Quonset that creates a climate for success?
First, Quonset Development Corporation (QDC) goes out of its way to cut red tape. Their Site Readiness program makes development at the park easier than ever with pre-permitted and pre-engineered parcels to speed the development process. With 246 acres of pad-ready sites, they also have the space for a new facility or expansion project. Quonsets Site Readiness Program enables companies to get shovels in the ground within 90 days of signing a lease.
Second, Quonset recognizes the strength in a broad range of industries. The industrial park can support large, high-tech, industrial operations like Electric Boat and Toray Plastics while their Commerce Park section hosts some of the states most successful companies like Ocean State Job Lot. Also, Quonset has created a new Flex Space Industrial Campus for new and growing companies who need affordable space that can adapt to the changing needs of growing businesses.
Quonsets strategic location in North Kingstown places businesses in the heart of the Northeast, giving them broad access to markets with tens of millions in population. The park is located at the midpoint between Boston and New York, offering companies a stake in both of the areas largest population centers.
Quonsets central location puts its companies at the nexus of major shipping and travel routes in the region. The onsite Port of Davisville, a top 10 auto importer in North America, provides public access to a world-class facility that is equipped to handle breakout load and special project cargo. Quonset also is close to highways like RI Rte 4 and I-95 and has direct access to the Northeast Corridor through 14 miles of freight rail running through the park. With additional proximity to major airports like T.F. Green (RI), Logan International (MA) and Bradley International (CT) and train routes like the MBTA and Amtrak, companies have the mobility they need to access new markets.
Quonset also understands that to attract the best talent, a business park has to be a place where people want to work. Their facilities include an 18-hole golf course, four beaches, a daycare facility and a free bus service provided through the RI Public Transit Authority. They are also looking forward to the construction of a new gym facility.
Finally, Quonsets leadership has a keen eye for the future. In recent years the park has grown as a hub of marine manufacturing but also as a magnet for clean energy development. The park hosted some of the construction for the nations first offshore wind farm near Block Island. Quonset Development Corporation is proud of its commitment to sustainability and powers its facilities with 100 percent renewable energy. The QDC is continuing to seek out new opportunities to bring the future of energy to Rhode Island.
Quonset Business Park is the ideal location in the Eastern United States for businesses of all sizes and at all stages of development. Their world-class infrastructure, centralized location and growth-friendly approach give businesses at Quonset a competitive edge and an optimal climate for growth. For more information about starting your next venture at Quonset, visit http://www.quonset.com.
Frederictons early investments in digital and physical infrastructure, like Knowledge Park, have enabled the growth of the Citys large knowledge-based economy and attracted global companies like Siemens, Salesforce.com and IBM.
Knowledge Park, Atlantic Canadas largest research and technology park, is the clustering environment where New Brunswicks cutting-edge research and development activities take place. Since being established in 1998, the 40-acre campus has grown to house in excess of 40 companies that employ over 800 people.
Today, Fredericton has more than 60 organizations that are engaged in research and development mostly lead by the University of New Brunswick, says Larry Shaw, CEO of Knowledge Park and Ignite Fredericton, the economic development agency for Fredericton, Oromocto and New Maryland. Knowledge Park is an integral part of Frederictons innovation ecosystem where collaboration, development and commercialization of new products occur.
When compared to other jurisdictions, the citys competitive advantage is a wealth of highly skilled labor, extensive research and development, diversified knowledge industry and a startup ecosystem that has achieved the recognition as Canadas Startup Community in 2016.
If you look in the last year, there have been more than 300 new jobs in cybersecurity alone, most of which are focused on cybersecurity for critical infrastructure, says Shaw.
In the Fall of 2020, Fredericton is set to open a $37-million Cyber Centre. This cybersecurity-dedicated space promises to have an enormous economic impact on the region. The 135,000-square-foot center dedicated to research and development of cybersecurity will support regional, provincial and national economic development priorities to attract new talent and businesses to the region.
The building represents one of the most significant economic development opportunities that New Brunswick has had in the last 20 years, says Shaw.
In support of this $37-million project, Knowledge Park has obtained a $30-million commercial loan from Opportunities New Brunswick. In addition, Knowledge Park and Ignite Fredericton have partnered with Cyber NB, a government-mandated organization focusing on economic development around cybersecurity in New Brunswick.
One such player is Siemens. This German multinational specializes in energy-efficient, resource-saving technologies. Siemens has worked closely with NB Power, the provinces renewable and traditional energy supplier, to improve its smart-grid technology. Recently, attracted by the quality of research and development being offered in Fredericton, the multinational has decided to set up their global center of competence for cybersecurity in the City. Difenda, Kognitiv Spark and Canadian Nuclear Laboratories are also planning to set up operations in the Cyber Centre.
Cyber Centre will be a level II security facility that houses private business, academia and three levels of government that will be focused on research, development, operations and commercialization in critical infrastructure cyber security protect. The facility is part of the current Knowledge Park campus expanding the footprint to more than 50 acres.
We know that the knowledge-based sector, including the research and development component, continues to be one of the most important areas for economic growth globally, and here in New Brunswick, said Shaw. Fredericton offers access to top talent, infrastructure, industry leaders and collaboration partners.
Knowledge Park is an economic development engine and its revenues are reinvested into initiatives such as Planet Hatch, an entrepreneurship center that supports startups to grow into internationally competitive companies. Planet Hatch offers mentoring and coaching, as well as programs and funding for entrepreneurs. The entrepreneurship center has proved extremely successful with more than 225 new startups over the past five years.
Fredericton is considered one of the most digitally-advanced cities in the world. Also, one of the most entrepreneurial communities in Canada, producing more than $1-billion in knowledge industry exits since 2009.
Through Knowledge Park and Planet Hatch, we are nurturing home-grown talent and growing a diverse network of high-tech providers, says Shaw, all of which benefit from an economically strong environment.
Knowledge Park works with a robust network of economic development, research and entrepreneurial support organizations, all located within Frederictons two km radius innovation district. One such organization is the University of New Brunswick. UNBs Canadian Institute for Cybersecurity, as an example, is leading research and advancements including commercialization initiatives with companies like Siemens. The Institute draws on the expertise of researchers in the social sciences, business, computer science, engineering, law and science.
Alongside St. Thomas University and the New Brunswick Community College, UNB supplies some of the sharpest and most skilled minds to the citys talent pool.
Frederictons talent pool continuously refreshes its diversity, skill and creativity with influxes of international students and skilled newcomers who come to Canada through various immigration streams. In the city, companies can hire internationally, done quickly through the Atlantic Immigration Pilot Program.
With the opening of the new Cyber Centre and the continued success of Knowledge Park and its support organizations, Fredericton is on the right path to becoming a global leader in providing high-quality research and development, as well as to maintain its status as the optimal location for research-based business.
We have so much to offer in Fredericton. Its just a matter of telling our story and showing the world the skills and the quality of infrastructure that we offer here, says Shaw.
MidAmerica Industrial Park has been building its resources in northeast Oklahoma for nearly 60 years and is looking equally far ahead. Since day one, MAIPs commitment has always been the sameto deliver whatever companies need to succeed. Companies like Google and DuPont agree that MidAmerica is a great place to be. The workforce. The infrastructure. The boundless potential. MidAmerica delivers it all.
MidAmerica is owned and operated by a self-sustaining public trust with the sole mission of increasing area employment by bringing new businesses to the region and by assisting in the growth of existing businesses. This mission opened the way for the crucial advantages of a park-owned water and wastewater system. It has also translated into park governance and service that is wholly responsive to tenant needs.
MidAmerica Industrial Park (MAIP) offers a stable, protected environment to its businesses. Because revenues are generated by water sales and park land sales and leases, the trust requires no state or federal tax dollars for support.
Because the trust also enjoys regulatory sovereignty, startups, expansions and relocations are streamlined with fast decisions and lower costseliminating red tape and fees. There are no building inspection processes requiring approval prior to construction, no impact fees, sewer hook-up charges, water hook-up charges, building permit fees, storm drainage fees or building inspection fees. Each of these lower engineering and construction costs.
Why Locate at MidAmerica. For businesses looking to locate at MidAmerica, MAIP is uniquely positioned to incentivize new business from every angle. Because MAIP incentives are added to both state and federal incentives, the packages offered to businesses are the most comprehensive in the nation.
MAIP also offers a Quick Action incentive fund that assists new companies with the costs associated with business relocation. The fund is comprised of three components: education and training, land cost offsetting and reduction and specialized infrastructure.
The education and training component encompasses the facilities at the park including: Northeast Technology Center, Rogers State University Pryor campus located in the park and MAIPs own Technology and Career Center.
Land cost offsetting and reduction helps companies considering relocation to MidAmerica. MidAmericas management team works closely with clients to determine the best possible structure for the acreage needed based on the scope of the project. This includes anything from low-cost to no cost, typically determined by overall investment and jobs created.
The third component, specialized infrastructure, includes but isnt limited to, working with companies to fulfill their needs in regard to water and wastewater at their site. Or, if a company has special needs for the site such as rail access, entry and exit access, land development, dirt removal, etcetera, MidAmerica would use the incentive fund to help offset those costs.
Qualifications and criteria for the fund depends on the value the business brings to the park. The number of jobs the company would bringspecifically, density of jobshow many employees per acre, average wage of employees and if there is opportunity for growth and expansion.
Finally, MidAmerica is in the process of developing at 162-acre development that incorporates retail, residential, parks and trails. The new development, known as The District, is a fusion of walkable retail areas and residential living combined with a natural environment that offers wide open spaces and outdoor activity. It includes 32,000 square feet of retail space, a 100-unit multi-story living complex, 100 residential homes and 10 acres of parks and outdoor spaces, which all connect via walking and biking trail systems. This development is about meeting peoples desires to be a part of thriving community and attracting the best of the best when it comes to employers and employees.
MidAmerica Infrastructure. With 9,000 acres under single ownership for almost 60 years, MidAmerica has everything a business needs to thrive. Park owned and operated water and wastewater treatment facilities, reliable power through onsite generation, ample gas supply and multiple communication providers means businesses can rest assured MAIP will have a reliable and affordable infrastructure.
MAIP recently completed the Armin Road Project which consisted of 1.5 miles of 32-foot to 42-foot-wide asphalt paved roads, storm water lines and sanitary sewer lines, and site drainage. The project opened up approximately 240 acres for shovel ready development.
In addition, The Oklahoma Ordinance Works Authority Board of Directors approved developing plans for construction of a new 100,000-square-foot spec building to be located in the park. The facility will be designed for operations utilization by a wide range of light to medium industrial clients.
MidAmericas water and wastewater treatment facilities ensure that theres plenty of capacity and capability for everyone in the 9,000-acre park.
The Water Treatment Plant is currently undergoing a $3.6 million renovation to maintain operational reliability, increase efficiency and improve safety. The renovations and updates include the installation of new meters and valves, replacement of actuators, concrete repairs and recoating of existing pipes and equipment to increase operational reliability and efficiency.
The Water Treatment Plant provides drinking water for 80 industrial customers, six of which represent 50 percent of overall water sales; three municipal customers outside the park who represent 10 percent of water sales; and six rural water districts representing 20 percent of water sales. The Plant produces 12 to 16 million gallons of drinking water a day.
In addition, MidAmericas Wastewater Treatment Plant is in the final stages of a $2.1 million improvement project to increase reliability and minimize the risk of violations with the Oklahoma Department of Environmental Quality (ODEQ).
SCADA improvements include new alarm signals to minimize equipment failure and monitoring devices to assist in plant operations. Finally, a new lift station will be commissioned to replace an existing lift station that was built in 1967.
Choose MidAmerica. MidAmericas excellent day-to-day management of park operations nurtures tenant success. The parks staff of 25 full-time professionals, under the direction of Chief Administrative Officer David Stewart, is always ready to respond to any tenant need, from administration to water/wastewater operations and maintenance to marketing and planning for future growth. The staff also keeps the parks Plant Managers Association abreast of current industry topics ranging from recent environmental legislation to international exporting practices.
There isnt a simple one word answer as to why you should make Summit East Technology Park in Tallahassee, the state capitol of Florida, your new address. Its not only about location, innovation, technology or convenience. Its about having a team of people working with you to deliver a Class A office building on schedule and the same team of people being with you and working with you throughout your stay at any of the Summit Group developments to ensure a mutually beneficial partnership.
There are so many advantages to living and working in the Sunshine State, and specifically, in Tallahassee, Florida. Obviously, the weather is at the top of the list with, on average, 233 sunny days per year in Tallahassee while the U.S. average is 205 sunny days. (Sperlings Best Places.) Florida does not have an individual state tax and tax incentives are available.
Tallahassee is the state capitol and the county seat of Leon County, and as of 2018, some 193,551 people call it home, with 385,145 in the Tallahassee metropolitan area. The population is the most highly educated in Florida and Tallahassee also is home to Florida State University, Florida A&M University, Tallahassee Community College and Lively Technical College.
The Summit East team and its building partner, Mad Dog Construction, delivered the Northview Building in the Summit East Technology Park in 2013 with over 40,000 square feet of office space in less than eight months from conceptual planning to move-in. A 40,000 square foot building was completed in 2018, which met the clients targeted 12 month delivery. With all needed development rights in place, the time from start to finish on a new building is substantially compacted where most can be delivered 14-16 months from commencement. The most recent project is a 73,000-square-foot building for State offices and is meeting its time schedule for completion and move in by October 2019.
The Staybridge Suites Hotel is located onsite within Summit East and provides businesses not only the opportunity to host out of town guests, but also has fully equipped A/V conference centers available that provide seating for 8-10 people, 50 people and up to 90 people. Additionally, there is a theater room available with leather recliners and a 70 inch TV screen.
Summit East is located at Highway 90 East (Mahan Drive) and Interstate 10 and is only 25 minutes to the Tallahassee International Airport, 15 minutes to downtown Tallahassee and five minutes to major cross-town roads.
An important aspect for any business is reliable and fast connectivity to the web. Summit East provides an efficient route to meet your companys growing bandwidth demands. Each building at Summit East is currently equipped with multiple major fiber internet providers. This allows for a shorter start up time for any new business, any business relocating within the Park or any business that has opted to change providers.
Summit East has recently added multiple buildings and therefore, hundreds more employees, and the nearby area is experiencing growth as well. There are both a diner and a drive through coffee shop on site. Within two miles are at least five restaurants and numerous others within a ten minute drive. Additionally, food trucks compete for Summit East business and there is currently a different food truck on site each day of the week.
An amenity that is often overlooked but which is of upmost importance to employee morale is that of having a large and beautiful natural space to enjoy our beautiful North Florida weather. Summit East has an 8.5 acre lake where you can try your luck at catch and release bass and bream fishing. Additionally, you may want to take a relaxing stroll on organic walkways under the many large oaks or follow a regular route along the sidewalks in order to get your daily walk.
In 2009 Summit East Management was honored with The Chambers Green Business of the Year award, and in 2013 Summit East Technology Park was awarded the prestigious statewide ENVY Award for Commercial Developments by the Florida Realtors, as the top commercial developer who made the most significant contribution toward building in harmony with Floridas beautiful and sensitive environment.
To sum it up, Summit East has it all; location, innovation, technology AND convenience, PLUS a team working with you to furnish not only a Class A office building but amenities that will be enjoyed by your company, employees and guests.
Eatonton and Putnam County, GA boast a very diverse economic mix ranging from manufacturing to agriculture to technology to film. Advantages include a central location, low operating costs, tax incentives and a relaxed lifestyle.
Situated in the center of Georgia between Atlanta, Augusta, Athens and Macon, Putnam County is located 10 minutes south of Interstate 20, 78 miles southeast of Atlantas Hartsfield-Jackson International Airport (the busiest airport in the world) and 185 miles northwest of the Port of Savannah (the 4th largest sea port in the United States).
Putnam County offers new and expanding businesses a healthy, economic landscape supported by a business-friendly environment. Existing Industry in Putnam County is currently investing significantly in their facilities:
Putnam County draws from a labor pool of over 67,775 employees from a six-county area. Putnam County has a lower cost of doing business due to a cost of living index of 93.1 which is 6.9 percent lower than the national average. County average wages were $671/week in 2018, well below the state average.
Local incentives include available city and county property tax abatement, 100 percent Freeport Exemption and job credits of $3,500/job for 5 years.
The Putnam County Charter School System (PCCSS) is host to an award-winning College and Career Academy. In 2019 Putnam County High School had a 92 percent graduation rate, which is higher than the state and national average.
Gatewood Schools is an award-winning Christian, independent, non-profit, college-preparatory school that provides an educational experience that prepares students for postsecondary education and lasting success.
Central Georgia Technical College (CGTC) provides workforce development at the Eatonton campus, as well as at the Putnam County High School campus. CGTC provides a quality academic and technical education, along with customized business and industry training, continuing education and adult education services.
Georgia College & State University and Georgia Military College are only a short 21-mile drive to Milledgeville. Other colleges and universities within a 50-mile radius of Eatonton include the University of Georgia, Mercer University, Wesleyan College and Middle Georgia State University.
As the areas best 100-percent digital, non-profit, healthcare provider, Putnam General Hospital has served the Eatonton and surrounding lake areas with over 40 years of excellent healthcare. Putnam General Hospital, a Navicent Health Partner, provides general medical and surgical care for inpatient, outpatient and emergency room patients. Sixteen additional hospitals are located within a 50-mile radius of Eatonton.
Putnam County is a lively, active community, which hosts many annual events and festivals. History, culture, arts, shopping and recreational opportunities abound. Lake Oconee and Lake Sinclair offer almost 800 miles of shoreline and many opportunities for swimming, boating, water skiing and fishing. Enjoy world-class golf at Reynolds Plantation, The Ritz Carlton, Cuscowilla Resort or Uncle Remus Golf Course.
Contact [emailprotected] about locating your business in Eatonton-Putnam County, Georgia.
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