Morgan Stanley has been awarded $4 million in state grants to expand its Baltimore operations into Harbor Point, a 27-acre redevelopment in Baltimore's Inner Harbor. In return, Morgan Stanley is investing $21 million and adding 900 workers at the 277,000-square-foot facility.
Merkle, a database marketing company, is establishing its headquarters at Columbia Gateway, a corporate business park in Columbia, Howard County. The company's $65 million investment includes two buildings and a 10,000-square-foot state-of-the-art data center. "Our new headquarters places Merkle in an area with a strong talent base of highly skilled professionals, with ample room for our future growth plans," says Merkle President David Williams.
With its central East Coast location and outstanding transportation infrastructure, Maryland is also a choice spot for warehousing/distribution operations. Costco Wholesale Corp., for example, is constructing a $50 million state-of-the-art distribution center in Frederick that will ultimately employ 300 people.
Oklahoma - The Oklahoma Department of Commerce reports investment by new and expanding manufacturers and processors totaled over $1.3 billion in 2007. Over the next three years about 7,300 jobs will be created by 21 new and 56 expanding manufacturing firms. Oklahoma is a leading manufacturer of tires, heavy construction equipment, construction materials, and plastics. Energy is another key sector - more than 85,000 oil and natural gas wells operate within the state.
Tiger Truck is spending $22 million on a 112,000-square-foot facility in Poteau for assembling off-road vehicles. Tiger will receive accelerated depreciation benefits on the building and equipment and other tax exemptions. "State officials quickly mobilized to meet our needs in such a way that little time has been lost from our original aggressive schedule," indicates Michael S. Ward, CEO of Tiger Truck.
Utah-based Sinclair Oil Corp.'s $1 billion investment in its Tulsa refinery will boost capacity by 60 percent and nearly double the company's work force. Sinclair will also add additional units to convert low-grade sour crude from Canadian oil sands into diesel fuel and gasoline. The three-year expansion project requires four million man-hours of construction and will add $45 million to the Tulsa economy.