The drop in the pound , Brexit , uncertainty facing Europe for the immediate future and Donald Trump growth policies coupled with his promise to reduce Corporation Tax has begun to put the USA on the map again for hot spots for investment but setting a prime environment for International Business to set up. We as a part of a series look into some of the more prime locations.
First off is PV|303 – Fast becoming a rising Hub for International Business Expansion in the United States .European Business goes stateside to see .
PV|303, the 1,600-acre master planned business park located in the city of Goodyear, Arizona is already home to internationally recognized corporations including Sub-Zero, Dick’s Sporting Goods and REI Inc. and continues to emerge as one of the fastest growing development zones in the western U.S.
A key feature attracting major international companies to the business park is the approved Foreign Trade Zone (Magnet Site #277) status on portions of the master plan that allows foreign material to the site without being subject to U.S customs duties. The FTZ status is a powerful sales tool for site selectors and companies looking to expand their business operations into the United States. FTZ users receive significant financial and operational benefits, including discounted processing fees, reduced tax assessments of 75%, reduced real and property taxes by up to 72%, shorter supply chain time, and improved cash flow.
“PV|303 is designed to meet corporate users’ unique needs,” says Sean Walters, COO of Sunbelt Holdings, developer of PV|303. “Our FTZ site designation is a compelling draw that enables companies to be cost competitive in the U.S. marketplace.In addition to the FTZ, PV|303 distinguishes itself among other markets across the country by offering companies strategic access to major ports and rail systems such as the Ports of Long Beach; Los Angeles and San Diego, Calif.; El Paso, Texas; and Las Vegas, Nev., a highly visible location along two major transportation corridors that provide a high-speed route into and out of the market area, shovel-ready sites, spec buildings, unmatched amenities and business-friendly policies.PV|303’s current corporate roster includes Sub-Zero, which purchased a 455,000-sq.-ft. manufacturing and distribution facility and is currently under construction on an additional 250,000-sq.-ft. footprint expansion resulting from the success with the facility. The park also features a 720,000-sq.-ft. Dicks Sporting Goods’ western United States distribution center, and REI Inc., the internationally recognized recreation retailer that opened a 400,000-sq.-ft. omni-channel facility in 2016. The distribution center recently achieved LEED Platinum certification, making it the first distribution center in the U.S. to achieve both LEED Platinum certification and Net Zero Energy.
Chicago-based First Industrial Realty Trust, Inc. recently purchased a 74-acre land site within the PV|303 business park and is currently nearing completion of a 618,350-sq.-ft. spec building that is expandable to over one million square feet of state-of-the-art industrial product. This project is envisioned to attract major users actively looking in the market.
A talented and deep workforce lives in the immediate metropolitan area, while freeways put PV|303 within an hour of 3.8 million workers. The city of Goodyear, where PV|303 resides boasts a diverse population. More than 85% of heads of households are college-educated and 56 percent have college degrees. And the workforce is growing; with approximately 4.6 million people, greater Phoenix’s population is expected to nearly double in the next two decades.
At final buildout, PV|303 will include over 20 million square feet of office, retail, and industrial space. For more information, visit www.PV303.com.