CoreNet Global Announces Finalists for Economic Development Awards Twelve Organizations Recognized

CoreNet Global Announces Finalists for Economic Development Awards Twelve Organizations Recognized

Press Release
March 15, 2005

ATLANTA - March 15, 2005 - CoreNet Global, the world s leading professional association of corporate real estate executives, today announced the finalists for the 2005 Economic Development Leadership & Accomplishment Awards. The CoreNet Global awards recognize leadership, best practices and innovations in economic development.

CoreNet Global has recognized 12 finalists out of a record number 29 nominations, as demonstrating these qualities and showing examples of leadership and accomplishment in economic development. Finalists have been recognized in two categories, Leadership & Innovation and Major Projects/Deals.

CoreNet Global s Economic Development Leadership Award finalists for Leadership & Innovation are:

• Beacon Council, Florida - "Local Business Local Jobs" A comprehensive marketing and outreach plan making retention and expansion of existing industry a top priority in this Miami-Dade, FL community.

• City of Farmers Branch, TX - An innovative local incentives package that resulted in the location of the JP Morgan Investment Services global investment service division through $1.2 million in annual property tax abatements, $1.6 million in sales tax exemption and $932,342 in training grants.

• Cumberland County, NC, Business Council - A local initiative to enhance business recruitment and retention leveraging the military and downtown development resulting in part in investments of $52 million by Goodyear and $26 million by Nitta Gelatin; also incorporating a public image campaign.

• Economic Development Corporation of Wayne County, IN - Providing logistics, manufacturing, accounting and sales support to small- and mid-sized Japanese automotive suppliers through the Foreign Auto Parts Incubator Program in partnership with SANYO Laser Products.

• Pearland, TX, Economic Development Corporation - A new Business Retention & Expansion (BRE) program is the only one of its kind in the Houston metro region and includes The Spectrum at Clear Creek, a master-planned, mixed-use business and technology park, as well as the branding of State Highway 288 as a technology center.

• Pennsylvania Department of Community and Economic Development - The state s Economic Stimulus Package leverages $2.3 billion in bonds and loan guarantees, includes an R&D tax credit program, and has resulted in the state seeing a 65% increase in successfully completed projects and a 76% rise in offers to business.

• Tennessee Valley Authority - TVAsites.com, reported to be the world s largest GIS site selection system, enables corporate real estate professionals, prospective companies, site consultants and others to identify optimal properties throughout the Tennessee Valley s 80,000 square miles and 1,568 sites listed.


CoreNet Global Economic Development Leadership Award finalists for Major Projects/Deals are:

• Pennsylvania Dept. of Community & Economic Development - Up to $5 billion in capital investment is projected through the state s Economic Stimulus Package, with the top 10 deals of 2004 generating $1.5 billion of that total, including Comcast, Merk, Olympus, Fairchild Semiconductor, Alcoa and Advance Auto Parts.

• Arlington, VA, Economic Development - AED capitalized on one of the hottest commercial real estate markets in the US with package deals including PBS, the Corporate Executive Board, BAE Systems and AES Corp., leveraging tax credits and other incentives into more than $300 million in investment.

• Piedmont Triad, NC, Partnership - Dell, Inc. selected the region for its largest manufacturing plant in the world - a $115 million, 600,000 square foot facility with up to 2,000 employees resulting from the Piedmont Triad Partnership s work with the state, Community Colleges and the Golden Leaf Foundation.

• Michigan Economic Development Corporation - - MEDC applied part of a state and local $42 million incentives package to a retention strategy for General Motors, and the company responded with a $450 million upgrade of two plants, plus $300 million, 500,000 square foot addition to another locally based production center.

• San Antonio, TX, Economic Development Foundation - A year after Toyota s location of a 2,000 employee truck plant, the EDF announced the addition of 18 on-site suppliers employing 1,500 workers, an unprecedented number at any North American automotive plant supplementing Toyota s $800 million investment.


This year s corporate real estate award judges were:

• Daniel Boutross, Director, Portfolio/Project Planning, Sprint
• Beth Choulas, Manager, Portfolio Office, Capital One
• Larry Ebert, VP, Corporate Real Estate, Capital One
• Michael Edwards, Senior Manager, Global Development, Intel Corp.
• James Harbaugh, Director, Corporate Real Estate, Bristol-Meyers Squibb Co.
• Gordon Lorig, VP, Strategic Infrastructure Group, JP Morgan Chase
• Blaine Trendler, Global Site Selection & Development, Intel Corp.

The CoreNet Global Economic Development Leadership & Accomplishment Awards are sponsored by Stadtmauer Bailkin Biggins Economic Development Incentives Advisors.

CoreNet Global members manage US $1.2 trillion in worldwide corporate assets consisting of owned and leased office, industrial and other space. With 7,500 members representing large corporations around the world, CoreNet Global (www.corenetglobal.org) operates in five global regions: Asia, Australia, Europe, Latin America and North America, including Canada.