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TRANSPORTANDWAREHOUSINGCITIESOFTHEFUTURE2020/21 SECTORS


FDI Strategy I


nsuch a crowdedsector, Transport and Warehousing locations need to have not only the best facilities,


but the most effective investment strategy if they are to achieve the FDI they need. A common theme among all the FDI Strategy winners was a focus on tax incentives. This was typi- cally paired with a ‘zoning’ strategy, with certain zones achieving tax breaks and incentives depending on environmental or industry consider- ations. Fostering connections with other cities also proved useful, such as Chicago’s twinned cities and Ventspils’s Baltic Loop Project. Chicago, Illinois, has been


awarded first place in fDi’s Transport andWarehousing Cities of the Future 2020/21 ranking for FDI strategy. The city holds one of the most important ports in the US, in addition to two international airports. The Airports Council International ranked Chicago’s O’Hare International Airport as the world’s sixth busiest airport. Some five federal highways and six of the country’s major rail- roads also meet in the Port of Chicago, making it a key transporta- tion hub for the US. The city supplements this infra-


structure through an impressive FDI strategy. A range of tax incentives are offered for prospective businesses, in addition to specific zoning and plan- ning incentives, in exchange for green building design and processes. Chicago has implemented a strong marketing strategy to attract future investors through a network of 29 twinned cities, a digital summit with the China Investment Promotion Agency and regular outreach events with foreign-based companies. Greater Richmond, state capital


of Virginia, places second in the fDi Strategy rankings. The city is situated in the heart of the east coast eco- nomic corridor, and features an international deep-water terminal at the Port of Richmond, connecting its waterways with the Atlantic Ocean. Greater Richmond also offers ‘The


December 2020/January 2021


CHICAGO TOPS THE FDI STRATEGY CATEGORY IN fDi’S TRANSPORT AND WAREHOUSING CITIES OF THE FUTURE 2020/21 STUDY, FOLLOWED BY THE US’S GREATER RICHMOND AND MARYLAND, GERMANY’S FRANKFURT RHEIN- MAIN AND LATVIA’S FREEPORT OF VENTSPILS. AIDEEN DUFFY REPORTS


CommonwealthCenter for Advanced Logistics Systems’ — a valuable col- laboration between government,uni- versities and industry focusing on transforming logistics systems — and the International Trade Facility Tax Credit for transport by barge or rail, in addition to foreign trade zones. Maryland ranks third in the fDi


Strategy category, benefitting from the Baltimore deep-water port, prox- imity to four international airports and a significant road and rail net- work. The state offers four foreign trade zones, in addition to Enterprise Zone Tax Credit and a strong work- force concentration of logisticians. The area has made an impressive commitment to energy efficiency, with investments in renewable energy solutions and support for the energy and transportation sectors. In fourth place for fDi Strategy,


Germany’s Frankfurt Rhein–Main area stood out with their Cargo City and impressive range of companies running transport and warehousing operations in the area. Cargo City Frankfurt is a leading European air- freight location, transporting more than two million tons of cargo per year. The Rhein andMain rivers allow access to continental ports around the world, while the Frankfurt International Airport gives access to every EU capital within a maximum flight time of three hours. Latvia’s city of Ventspils, located


on the Baltic Sea, ranks fifth in the fDi Strategy rankings. Ventspils has a year-round ice-free port and is located just two hours away from Riga International Airport. The city also benefits from strong railway connections on the east–west rail- way corridor. The Freeport of Ventspils is part of an EU Special Economic Zone with several tax ben- efits for companies. The port is also a member of the Baltic Loop project with several other countries, designed to prevent bottlenecks of passengers and freight in the east– west corridor of the Baltic sea.■


115


TOP10 TRANSPORT AND WAREHOUSING LOCATIONS: FDI STRATEGY


RANK LOCATION 1 2


3 4


5 COUNTRY


World Business Chicago US Greater Richmond Richmond


Maryland Department of Commerce


Frankfurt Rhein Main


GmbH International Marketing of the Region Freeport of Ventspils authority


US US


Germany Latvia


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