Economic Summary

Market Analysis & Planning Series (MAPS) USA

Andrew Toolan, MIDAS

2020 9 Contents

Executive Summary………………………………………………………………………………………………………………………………………………………..p2 Introduction: Why the USA & Reasons for this Report ……………………………………………………………………………………………….p3 U.S Companies in Greater ………………….……………………………………………………………………………………………………..p5 Analysis of FDi Trends.………………………………………………………………………………………………………………………………………………...... p7 USA VC Investment in Europe/UK.………………………………………………………………………………………………………………………………..p11 Key USA Growth Centres Corporate HQ’s…………………………………………………………………………………………………………………….p12 Start-Up Ecosystems…………………………………………………………………………………………………………….p13 Company Targeting Fast Growing Companies……………………………………………………………………………………………………..p14 Largest FDI Job Creators……………………………………………………………………………………………………….p15

Manchester & USA Connectivity …………………………………………………………………………………………………………………………………..p17 Leveraging Manchester Alumni Network………………………………………………………………………………………………………………………p18 Trends in Corporate HQ Movements…………………………………………………………………………………………………………………………….p19 U.S Market Opportunity………………………………………………………………………………………………………………………………………………….p21 Sector Opportunities - Industrial……………………………………………………………………………………………p24 Sector Opportunities - Creative, Digital & Tech ………………………………………………………………….p35 Sector Opportunities - Financial & Professional Services…………………………………………………….p38 Sector Opportunities - Life Sciences………………………………………………………………………………………p41 Scoring Matrix and State Focus…………………………………………………………………………………………………………………………...... p50 Conclusions & Actions……………………………………………………………………………………………………………………………………………………..p52 Appendix: Part I: State Level Analysis (Top 20)………………………………………………………………………………………………………………………………..p52 Part II: Next30……………………………………………………………………………………………………………………………………………………………………p140 Part III: DIT Network………………………………………………………………………………………………………………………………………………………….p142 Part II: Partner Networks….………..………………………………………………………………………………………….p 1 Executive Summary

The USA is a key market for and developing further strategic links will help accelerate Considering the metrics MIDAS use to determine which states to focus on (e.g. no. of corporate HQ’s/fast our ambitions to provide jobs and prosperity to our residents and businesses. growing firms) then applying a score, the top states are 1) California 2) New ; 3) Texas 4) Illinois 5) Minnesota; Florida. This creates three corridors 1) West/South West; East/South and Mid-West as illustrated below. Looking further into the focus of the MIDAS sector teams we conclude the following: Internationalisation is embedded within the DNA of Greater Manchester and is fundamental to our continued economic success. The Greater Manchester Internationalisation Strategy states that we will “compete on the international stage for talent, investment, trade and ideas”. Internationalisation already Creative, Digital & Tech: The U.S has strengths in the key sub-sectors for CDT (Cyber A.I/Data and plays a critical role in the Greater Manchester economy and many of our key assets including our people, ecommerce supply chain). Therefore the focus on the East Coast should be New York, Massachusetts companies, universities, sports clubs, culture and ideas have a global reputation. () Pennsylvania (Pittsburgh/Pennsylvania) and surrounding D.C area (Maryland/Virginia). On the West/South West Coast, the focus should be California (San Francisco), State (). Texas Greater Manchester has the opportunity to enhance its role in the global economy. We need more (Austin). There is an opportunity to collaborate with the Life Sciences team in Digital Health, FPS team in businesses to sell their goods and services overseas, attract a greater share of foreign investment and ecommerce payments and the Industrial team on A.I/Data transformation programmes in manufacturing. develop closer research links with innovative economies. The USA is the leading source market for foreign direct investment into the UK (EY 2019) and presents an excellent opportunity for trade. U.S Life Sciences: Given Greater Manchester’s strengths in MedTech, Digital Health, Ageing and Diagnostic, the firms are also showing increasing interest in Europe and the UK, providing an opportunity focus should be Massachusetts (Boston/Cambridge), the Minnesota-Indianapolis corridor (Minneapolis) and to attract more capital for early stages companies in Greater Manchester to scale and create jobs. the West Coast (San Francisco). There should be collaboration with CDT on healthcare digital transformation, focussing on engaging with large tech companies such as Microsoft, Cisco, IBM and Google. Greater Manchester is home to many U.S-owned companies who make a major contribution to the regional economy and employ thousands of people. There is enormous potential for further job creation Financial & Professional Services: Given the focus on Banking, Legal and FinTech (Payments) the key locations through re-investment from these employers whilst attracting brand new companies. MIDAS will continue to focus on should be New York (NYC) Massachusetts (Boston), Georgia (Atlanta), California (San Francisco). to leverage its strategic relationships with U.S-owned firms in Greater Manchester and target new companies in sectors that align with Greater Manchester’s offer, while supporting the work of the Local Industrial: Given strengths in Advanced Materials, Industry 4.0, Logistics and Low Carbon, the key states to Industrial Strategy. A ‘TeamGM’ approach should be adopted, looking to leverage existing relationships focus on in the Mid-West region are Illinois (Chicago) Michigan, Texas (Houston) and Colorado. The our partners and stakeholders have with target companies and locations. The relationships with account Illinois/Michigan/Ohio Triangle managed companies need to be cultivated at the local, national and international level in order to be successful. MIDAS have developed a list of target companies (T20), many of which are U.S-owned. This Figure 1.0 MIDAS Focus ‘Corridors’ paper supports the delivery of this strategy, acting as a mirror from a market perspective.

Given COVID-19, planned activity will be repurposed with increased use of digital marketing tools (webinars, virtual tours, social media) supported by analytics on sector, market and company profiling to inform business plans. An evidence based approach to targeting U.S companies will be adopted, working with multipliers and partners such as DIT to deliver activity. Given the size of the U.S market, focussing efforts on key states and cities is key. Prioritising locations that best align with Greater Manchester’s specialist sectors, using an evidence based approach will yield the best outcomes.

Based on the data gathered, the conclusion is that the key states to focus on from a corporate HQ perspective are: California; Florida, Texas and New York. Key cities in those are: New York, Houston, Dallas; Chicago, Atlanta and San Francisco. In terms of the start-up ecosystems nurturing the next generation of fast growing companies, key locations are: Austin; Denver; New York; Houston and San Jose. Atlanta is also gaining traction as an important tech centre and home to 16 Fortune 500 companies. 21 Introduction: Why the USA & Reasons for this Report

U.S is the single strongest market for FDi COVID-19 could increase the flow of U.S capital into European start-ups

The U.S was the leading source market for foreign direct investment into Europe in 2018/19 and has been COVID-19 is raising many questions about its economic impact on business growth and investment activity. the largest origin of investments into Europe in every year since FDi projects were first recorded in 1997. The crisis could play in favour of an acceleration of capital deployed by U.S funds into Europe and the UK, as That same year, the U.S was the origin of double the number of projects compared to the next market the VC industry adjusts to the new normal. Many European funds have started in the last 5 years and this is Germany. The number of European investment projects originating from the U.S in 2018/19 was 1,418 - a the first major crisis they have had to face. In comparison, VC activity in the U.S has weathered many storms rise of 3% over 2017. However, UK projects from the U.S were largely flat, rising from 336 in 2017 to 345 in recent decades. While many European VC firms may begin to slow or freeze funds in the midst of their in 2018. As a result, the UK lost share of U.S investment in Europe. first crisis, U.S VCs know that this is a time of opportunity and could decide to finance promising start-ups struggling to raise capital in their local markets. This is also why some larger Bay Area funds raise USA - UK trade deal opens new opportunities ‘opportunity funds’ to take advantage of the situation now unfolding. In this new economy, cash is king and managing the burn rate is becoming more important than ever. A start-up’s runway has to be long enough so that companies can survive until the economy picks up, which could take two years. European start-ups The freedom to sign free trade deals with countries like the U.S was, for some, the very point of Brexit. have a competitive edge thanks to their access to a large pool of talent for a less expensive salary. U.S VCs Talks between the UK and the U.S on a post-Brexit trade agreement began in May 2020. The early are aware of this which will increase their comfort in investing in European businesses. negotiations are taking place by videoconference, due to COVID-19, with the first round of talks lasting two weeks and further sessions approximately every six weeks. The UK has said it will drive a "hard COVID-19 is accelerating the trend of remote work and many firms are preparing for this to be the long- bargain" as Ministers seek to lower tariffs on exports and boost trade in services. The UK government has term new normal. To date, it’s been important for VC’s to meet CEOs before agreeing to invest in them. estimated that eliminating tariffs and reducing other trade barriers with the U.S could boost the economy Companies and investors will become more comfortable with this new way of working which means less by between 0.07% and 0.16% over the next 15 years, depending on the exact terms. Increasing travel and more video calls. This trend is going to remove the friction caused by distance and streamline the transatlantic trade will help both economies recover from the economic challenge posed by COVID-19. investment process for investing in European start-ups from the U.S, both during and post COVID-19.

The Department for International Trade (DIT) has published an assessment of the possible gains to the Supports Partner and Stakeholder Engagement UK economy from such a deal. UK GDP is promised a £3.4bn boost, in the long term, if all UK-US tariffs are eliminated. That is a modest figure in terms of the overall economy, 0.16% of GDP, and in line with In Greater Manchester, a number of partners across the private and public sector have interests and ties with the calculations made by the Treasury in 2018. In a more modest deal that kept some tariffs in sensitive the U.S These include businesses, universities, and research institutions. Where possible, areas, the government calculates the benefit would be £1.6bn in 15 years' time, or 0.07% of UK GDP. The its important that a ‘TeamGM’ approach is taken to U.S engagement, aligning objectives across stakeholders government have stressed that trade deals will support the levelling up agenda and benefit UK regions and partners. This will ensure that any activity being delivered has the maximum impact and done so as because they will lead to more trade on certain goods produced there, therefore increasing jobs. Its efficiently as possible. As we emerge from the COVID-19 crisis, budgets and resource will be more restricted important to add that in light of COVID-19, estimations on growth will likely be adjusted. and therefore it is more important than ever to work together.

Supports Local Industrial Strategy ambitions / City-to-City work Support business planning

Greater Manchester’s Local Industrial Strategy (LIS) talked about the city-regions role in contributing to This paper is intended to serve as a tool in helping identify which U.S states and cities to focus on and strengthening UK soft power and building on global partnerships. It said ‘Greater Manchester will launch support those partners with an interest in this market. The data will help partners plan their activities and a ‘Global Prosperity Partnership Model’, to be promoted by the Department for International Trade. The think about which U.S organisations to engage with. Whilst the focus of this paper has been developed to model will create city-to-city partnerships to build deep two-way relationships between cities, and strategic support Greater Manchester’s inward investment strategy, there is information that will be useful for partners partners therein, in key markets.’ The U.S remains a priority market for Greater Manchester and there are looking at the U.S from a trade or research perspective. This paper should therefore be viewed as a opportunities to partner across trade, investment and research. This paper helps map out which U.S foundation document which partners can build upon that will support Greater Manchester’s overall states and cities present the best opportunity for us to engage with and achieve our goals. ambitions with the USA.

31 SWOT Analysis: USA Market

Before we look at the research and information gathered, this framework will help to determine strengths, gaps and challenges in the U.S market Fig 1.1 USA SWOT Analysis Strengths Weaknesses

• Market size poses challenge on resource/focus (states like California • UK has a ‘Special Relationship’ with the US – strong history of bi-lateral have larger economies than many countries) cooperation in trade; investment; research and politics • Operates chronic trade deficit problem • Greater Manchester has good history of trade and engagement with USA • Growing levels if inequality • Many U.S owned companies are have significant presence in GM • Poor healthcare system – places burden on public finances as does • Strong connectivity / air routes between Manchester and USA growing ageing population • Greater Manchester has sectors that align well with U.S market • Under Trump administration, rising nationalism/protectionism approach • MIDAS/GM have strong links with partners and multipliers that have a has meant that the U.S has started to retreat as a world leader in many presence in the USA (DIT) areas (i.e. climate change) • NPH will be boosting in-market presence in the US late 2020 Opportunities Threats

• Scale and diversity of U.S market presents many opportunities • Coronavirus has wiped out all stock market gains under the Trump • New free trade deals post Brexit administration and could push the US into a deep recession or even • U.S companies among worlds largest for investing in R&D – opportunity to depression with unemployment as high as 20-30% attract high value departments • Potential political instability – volatile administration • U.S strengths and size provides opportunity to support the development of • U.S-China trade war/growing tensions GM’s LIS – Health Innovation, Advanced Materials, Digital Industries like • High levels of debt in both households and economy Cyber; Ecommerce; FinTech • Highly polarised society • U.S has large share of the worlds largest companies/job creators and also • Potential social instability through high inequality levels/inability to tackle some of the fastest growing issues like racism • Increasing connectivity with USA through new air routes provides further • Climate Change policy lagging behind other countries now opportunities to enhance trade, investment and collaboration • Global perception has been impacted by its role in middle eastern wars • Taxation levels have dropped for corporations in recent years which continue to be very costly • Large supply chain opportunity

41 U.S Companies in Greater Manchester

Helping to support re-investment from U.S companies in Greater Manchester will be very Below is a list of the MIDAS account managed companies that are U.S owned. It is important to important as this will lead to more jobs and economic growth. MIDAS account manage 450 develop relationships not just at a local and national level, but internationally through global businesses across GM and approximately one third are of U.S origin. These businesses employ HQ’s. Whenever U.S in-market activity takes place, teams must ensure they are reaching out to thousands of people here and there is significant potential to drive further job creation through their accounts and this needs to happen in a cross sector manner. This will provide an re-investment, therefore it is crucial that effective account management takes place in order to opportunity to meet with senior decision makers and talk about the strengths of Greater identify these opportunities. Manchester and capture mobile investment projects. Fig 1.2 MIDAS Account US Management List Sector Team Company Name Sector Team Company Name Industrial 3M PLC Industrial Itron Industrial Addivant Industrial Jacobs Engineering UK Industrial AECOM Industrial Joy Mining Machinery (Joy Global) Industrial Albany International Industrial Kadant UK Industrial Americhem Inc Industrial Kelloggs Industrial Arlington Industries Industrial MacDermid Canning Industrial Asda (Wincanton) Industrial Magnesium Elektron Industrial BGT Materials Industrial MEL Chemicals Industrial Blue Water Shipping Industrial Mettler Toledo Safeline Industrial Brooks Automation Industrial Milliken Industrials Limited Industrial BWA Water Additives Industrial Multiple Winding Industrial Cargill (Cerestar UK) Industrial Nice-Pak International Ltd Industrial Cascade (UK) Ltd Industrial Noble Systems UK Limited Industrial Continental Fine Foods Industrial Northrop Grumman Corporation Industrial Crane Payment Innovations Industrial NOV Process & Flow Technologies UK (Mono Pumps) Industrial Crawford & Co Industrial D.D. Williamson Industrial Procter & Gamble Industrial Diodes Zetex Industrial Quat-Chem Limited Industrial Exova Group PLC Industrial Sage Automotive Interiors Limited Industrial Flowserve Industrial Sherwin Williams Industrial Freightliner Industrial Sonoco Consumer Products Industrial General Mills Industrial Spectrum Brands Industrial GNB Industrial Power Industrial Starkey Laboratories Industrial Guenther Bakeries UK Limited Industrial Stepan UK Industrial H J Heinz Co Ltd Industrial Tremco Illbruck Production Limited Industrial Haynes International Industrial Tyco Fire & Integrated Solutions Industrial Hellermanntyton UK Industrial Tygavac Advanced Materials Ltd Industrial Honeywell Control Systems Ltd Industrial United Biscuits Industrial Icopal Ltd Industrial UPS Supply Chain Solutions Industrial Ingredion Industrial Washington Mills Electro Minerals Industrial International Game Technology Industrial XPO Logistics 51 U.S Companies in Greater Manchester

Sector Team Company Name Sector Team Company Name Life Sciences Abbott Informatics Europe FPS AFEX Life Sciences Allscripts FPS AIG Life Sciences Baxter Healthcare Limited Life Sciences Decision Resources Group FPS Arthur J Gallagher Life Sciences F2G Limited FPS BNY Mellon Life Sciences Hologic Gen-Probe Life Sciences Imorphics (Stryker) FPS Crawford & Co Life Sciences Labware FPS Duff and Phelps Life Sciences Lumira Dx FPS FIS Information Systems UK Life Sciences McCann Health Life Sciences Omnicell FPS Ford Credit Europe Life Sciences Proteintech Group Inc. FPS GE Capital Europe Life Sciences Waters Corporation

FPS Icahn Enterprises Sector Team Company FPS Latham & Watkins CDT Mitratech CDT Oracle Corporation UK FPS Lockton CDT Quantcast FPS Markel CDT Radial

FPS Marsh & McLennan Companies CDT Raytheon CDT RS Data Tech FPS MBNA CDT Microsoft FPS RGL Forensics CDT ThoughtWorks CDT Travel Jigsaw (Rentalcars.com) FPS SPX CDT Weber Shandwick FPS Squire Patton Boggs CDT Zephus

Conclusions: MIDAS will analyse historic data to identify the top job creators over the last 10 years and map out the top companies per sector team. Further analysis of those companies is required (blue-sheet development) sharing findings with partner networks to identify new contacts. We will also identify companies the role companies can play in the development of the LIS/GMS and GMISS; Build Back Better.

61 Analysis of FDI Trends

Overview

Using an evidence based approach to developing a market strategy, its important to look at historic data This FDi data clearly shows that the USA represents a significant market opportunity. It is by far the single on foreign direct investment (FDi) flows. This will help inform the business case for a particular market and largest country that accounts for FDi success both into Europe and the UK. Therefore it should be viewed as determine how high (or low) a priority it should be. In taking the UK market and looking at past FDI flows fundamental to any IPA market strategy. U.S companies have also demonstrated a more ‘bullish’ attitude we can see which markets investment is originating from. In mid-2020, DIT released the figures on FDI than investors from other nations. Even during times of market volatility, the U.S are more aggressive than counterparts when it comes to looking at investment opportunities. performance from their 2019-20 period. The US market generated 462 projects that created 20,131 new jobs and safeguarded 863 jobs.

According to research by EY, the UK is still the leading destination in Europe for USA FDI. 2018/19 saw 345 projects land in the UK from U.S companies The U.S is also the leading origin of FDi into Europe and Fig 1.4 USA FDi Origin 2019 (Source FT 2020). despite the wider economic uncertainty, U.S investors were three times less likely than Asian investors to have reduced their investment. In 2018/19, the U.S was the source of double the number of projects coming into the UK and the next largest origin market was Germany. There was a 3% rise in the number of U.S projects compared to 2017/18. This is backed up by a similar research from IBM that also shows the U.S is the main source market of global FDi with Germany second.

Fig 1.3 Global FDI Investment Origin Markets 2019 (Source EY Investment Monitor 2019)

71 Analysis of FDI Trends – Origin of Projects by U.S State

Fig 1.5 Source U.S States outbound FDI flow (Source Orbis 2019).

Conclusions

• California, New York and Illinois are the top 3 origin states for job creation and projects • California had nearly double the amount of projects than the no.2 location (New York) and three times as many jobs were created

81 FDI Trend Analysis – Destination of U.S Projects

Fig 1.6 Destination of U.S FDI flow (Source Orbis 2019)

Conclusions

• The UK remains the most active market for U.S investors • 166,468 jobs were created across 2,507 projects

91 FDI Trend Analysis – U.S Project Functions

Fig 1.7 Nature of Outbound U.S (Source Orbis 2019)

Conclusions

• Sales offices account for the largest volume of projects • Manufacturing followed by logistic functions accounted for the largest proportion of job creation • Other key functions include ‘Technical Support Centres, R&D and Regional Headquarters 101 U.S Sector Opportunities

Overview Fig 3.3 Largest US Companies by Market Capitalisation in Each State (Source INC 5000 2019) The United States offers the largest consumer market globally with a GDP of $20 trillion and 325 million people. Household spending is the highest in the world, accounting for more than a quarter of global household consumption. At the same time, free trade agreements with 20 other countries provide enhanced access to hundreds of millions of consumers.

The largest U.S. trading partners are China, Canada, Mexico, Japan, Germany, South Korea, the UK, France, India, and Taiwan. The U.S is the world's largest importer and the second-largest exporter. Americans have the highest average household and employee income among OECD member states.

In 2016/17, it was the world's largest trading nation as well as its second-largest manufacturer, representing a fifth of the global manufacturing output. The U.S not only has the largest internal market for goods, but also dominates the trade in services. U.S total trade amounted to $4.2 trillion in 2018. Of the world's 500 largest companies, 121 are headquartered in the U.S.

Opportunities in the U.S market

The U.S consumer market is the most robust on the planet. In 2017, families purchased more than $13.3 trillion in goods and services, or more than a quarter of the entire world’s household consumption. According to the latest statistics, real (inflation adjusted) median household annual income in the United States exceeds $61,000.

The U.S is a world leader in consumer goods market research, product innovation, manufacturing, branding and marketing, and offers a highly skilled workforce. This lucrative open market is a powerful growth engine for companies of all sizes. G

Opportunities in global markets

The U.S is renowned for innovative goods and services, high standards of quality, customer service, and sound business practices – giving U.S exports a unique competitive edge. U.S based businesses are connected with 20 additional countries through free trade agreements, providing enhanced access to over 790 million consumers. And the U.S does not put up barriers - according to the World Bank, no other country has more rapid export procedures. Greater Manchester and indeed the wider north of England lags behind the UK average in terms of exporting levels. Closing this gap would add tens of billions onto the regional economy. Therefore supporting trade as Global companies recognise the value offered by the U.S as an export platform. The U.S affiliates of well as investment will be key to closing the gap between the north and south of England and efforts to foreign companies alone export US$370 billion worth of goods – more than a quarter of all U.S goods support this form part of the levelling up agenda. The following pages further analyse the concentrations of exports. industries across the USA and dives deeper into those that represent an interest for Greater Manchester, both from a trade and investment perspective.

111 Largest Industries in each State by GDP

Fig 3.4 Largest Industries by GDP in U.S States (Source www.bea.gov).

12 Locations relevant to the LIS

Greater Manchester’s Local Industrial Strategy is designed to deliver an economy fit for the future, with prosperous communities across the city-region and radically increased productivity and earning power. Fig 3.5 Growing Hotspots for high value industries by employment (Source INC 5000) The LIS will improve economic performance by overcoming barriers to grow such as population health, education and skills, infrastructure, innovation and leadership and management.

The LIS will tackle these barriers, while also responding to global changes affecting us all including climate change, technological change and the Fourth Industrial Revolution, and an ageing society.

Greater Manchester will look to develop its strength in key industries such as:

Health Innovation; Advanced materials and Manufacturing; Green Technology; Digital Industries

This map shows those locations which (over the last 20 years) have been growing hotpots for sectors that are relevant to Greater Manchester’s Local Industrial Strategy.

131 Sector Opportunities – Industrial

Aerospace Airport Infrastructure/Aviation Security: Airport infrastructure and aviation security markets continue to grow in the U.S and abroad. While the FAA has completed installation of its satellite navigation ground stations, work continues to re-design airspace and FAA procedures. As air traffic management moves to greater In 2018, this industry contributed $151 billion in export sales to the U.S economy. Its positive trade reliance on data communications, the focus in aviation security has shifted from countermeasures to physical balance of nearly $88bn was the largest trade surplus of any manufacturing industry. In 2017, foreign threats to containment and mitigation of cybersecurity threats. direct investment into the U.S aerospace manufacturing industry totalled more than $21 billion. The U.S aerospace industry is the largest in the world and employs 509,000 workers in scientific and technical Aviation Fuels: Alternative fuels in the aviation sector continue to be of interest due to the historic price jobs across the country and supports 700,000 jobs in related fields. Investors in the U.S aerospace volatility of traditional jet fuel and to concerns about the effect of aviation on the environment. The U.S is a industry are supported by the Federal Aviation Administration’s (FAA) seen as the ‘gold standard” of leader in alternative aviation fuel R&D and U.S producers have successfully completed test flights using fuels aviation safety, boosting the confidence worldwide in the safety of aircraft and aircraft parts from a variety of feedstock. manufactured in the USA. The FAA has Bilateral Aviation Safety Agreements that facilitate the airworthiness approval in 47 countries outside the U.S of American made aerospace products. Supply Chain: The U.S has a robust aerospace supply chain with capabilities in maintenance, repair, and Subsectors include: overhaul (MRO), composites, metal-working, avionics, testing equipment, and coatings. Large Civil Aircraft (LCA): The U.S is a leader in LCA production, offering opportunities for investment in the LCA supply chain. Federal Programs & Legislation

Rotorcraft: The U.S rotorcraft industry is diverse with the bulk of new deliveries arriving from mature The National Space Council: The policy body provides guidelines and direction to ensure that the U.S is a production lines. The market encompasses military, emergency medical service providers, offshore oil leader in providing a safe and secure environment as commercial and civil space traffic increases. Under SPD-3, the Department of Commerce will make space safety data and services available to the public, while and gas exploration, and law enforcement applications. the Department of Defence maintains the authoritative catalogue of space objects. Commercial Space: The companies in the U.S commercial space market are major suppliers to US. Export Control Reform: The federal government has implemented reforms of export control regulations, Government programs, where demand has remained stable during the commercial aerospace and creating a more predictable, efficient, and transparent technology control regime. Some aircraft parts that global economic downturns. formerly were controlled under the International Traffic in Arms Regulations are now controlled under the Export Administration Regulations (EAR). Many EAR-controlled aerospace products can be exported from General Aviation (GA): The U.S is the world’s largest market for GA aircraft. Manufacturers produce a the U.S with no export license needed. wide range of products including piston aircraft, turboprops, jets, balloons, dirigibles, and experimental aircraft. Aerospace Industry Associations

Engines: Major engine and power plant manufacturers are typically part of diversified corporations Aeronautical Repair Station Association producing engines for both civil and military aircraft, either alone or as part of joint ventures. Engines and Aerospace Industries Association power plant sales also provide maintenance, repair and overhaul business opportunities. Air Traffic Control Association (ATCA) Aircraft Electronics Association (AEA) Unmanned Aircraft Systems (UAS): Given the rapid growth of military and civil governmental UAS American Association of Airport Executives (AAAE) operations, there is tremendous potential for the U.S industry in the evolving commercial UAS sector. The Aviation Suppliers Association (ASA) establishment of the Federal Aviation Authority’s six UAS test sites and creation of their Centre of General Aviation Manufacturers Association (GAMA) Excellence for UAS demonstrate the Government’s commitment to supporting civil UAS development. Helicopter Association International (HAI) Satellite Industry Association (SIA) The 1.4 million registrations the FAA has processed evidence the expanding level of demand for UAS in Space Foundation (SF) the U.S. Fig 3.6 (Source: FDI Markets Select USA 2008-2018) 141 Sector Opportunities – Industrial

Automotive

The United States has one of the largest automotive markets in the world. In 2018, U.S light vehicle sales Fig 3.8 Automotive and Supply Chain U.S Hotspots (Source FDI Markets Select USA 2019) reached 17.2 million units and overall, it is the world’s second-largest market for vehicle sales and production. Since Honda opened its first U.S plant in 1982, almost every major European, Japanese, and Korean automaker has produced vehicles and invested more than $75 billion in the U.S. The U.S affiliates of majority foreign-owned automotive companies directly support more than 400,000 U.S jobs. Additionally, many automakers have U.S-based engine and transmission plants and conduct R&D, design, and testing in the United States.

The automotive industry is also at the forefront of innovation. New R&D initiatives are transforming the industry to better respond to new opportunities. According to Auto Alliance, of the $105 billion spent on R&D globally, almost a fifth ($18 billion) is spent in the United States. In 2018, the U.S exported 1.8 million new light vehicles and 131,200 medium and heavy trucks (valued at over $60 billion) to more than 200 markets around the world, with additional exports of automotive parts valued at $88.5 billion. The U.S has an extensive network of automotive parts suppliers serving the industry. This network directly supported 600,000 U.S jobs in 2018.

Automotive Industry Associations

American Automotive Policy Council Association of Global Automakers Auto Care Association Auto Alliance Automotive Parts Remanufacturers Association Motor & Equipment Manufacturers Association Specialty Equipment Market Association

Fig 3.7 (Source FDI Markets Select USA 2008-2018)

151 Sector Opportunities – Industrial

Chemicals Department of Energy’s Advanced Manufacturing Office: Through cost-shared projects, tools, training, and The chemical industry is one of the United States' largest manufacturing industries, serving both a sizable information, the Advanced Manufacturing Office (AMO) works with a broad spectrum of public-private domestic market and an expanding global market. It is also one of the top exporting sectors of U.S. partners to develop and commercialise technologies/materials and practices that will result in increased manufacturing, accounting for 18% of global chemical shipments. The industry’s has more-than 13,000 energy productivity and savings for U.S industry. Two R&D projects have chemical-related initiatives: the firms and in 2017 sales reached $765 billion and directly employed more than 529,000 workers, with Innovative Process and Materials Technologies Project and the Next Generation Materials Project. additional indirect employment by industry suppliers of more than 1.8 million. There was investments of $99bn in R&D in 2017, and the industry accounts for a large portion of patents granted in the U.S Department of Energy's Bioenergy Technologies Office: This works with a spectrum of government, industrial, Subsectors include: academic, agricultural, and non-profit partners across the U.S to develop commercially viable, high- performance biofuels, bioproducts, and biopower made from renewable U.S biomass resources.

Basic Chemicals: These include organic and inorganic chemicals, plastic resins, dyes and pigments. Plastic Chemical Industry Associations resins, in particular, have experienced significant growth as a replacement for traditional materials in the automotive, construction, and packaging end-use markets. Adhesive and Sealant Council, Inc. American Chemistry Council Specialty Chemicals: These include adhesives and sealants, water treatment chemicals, plastic additives, American Cleaning Institute catalysts and coatings. These chemicals are performance-oriented and typically include American Coatings Association customer/technical servicing as an aspect of their sales. American Composites Manufacturing Association CropLife America Agricultural Chemicals: These play a key role in agribusiness and food processing sector. Farmers have The Fertilizer Institute doubled the production of world food supplies since 1960, tripled the output of foods like cooking oils American Fuel & Petrochemical Manufacturers and meats, and increased per capita food supplies in the developing world By 25%. Personal Care Products Council The Polymers Centre of Excellence Society of Chemical Manufacturers and Affiliates Pharmaceuticals: Include diagnostics, prescription drugs, vaccines, vitamins, and OTC drugs SPI: The Plastics Industry Trade Association Consumer Products: These include soaps, detergents, and cleaners, as well as toiletries and cosmetics.

Federal Programs & Legislation

Manufacturing USA: – the National Network for Manufacturing Innovation consists of linked manufacturing innovation institutes designed to be a public-private membership organisation where industry, academia, and government partners are partnering to nurture innovation and accelerate commercialisation. In chemicals, the Institute for Advanced Composites Manufacturing Innovation was formed in 2015 to foster the creation and application of next-generation composites by accelerating the development and adoption of advanced manufacturing technologies with a focus on vehicles, wind turbines, and compressed gas storage.

Manufacturing Extension Partnership: This helps U.S. firms by providing individually tailored services to help companies improve their productivity, economic competitiveness and technological capabilities.

161 Sector Opportunities – Industrial

Energy reliability enhancement, renewable resources integration, demand shifts, and market reforms that create The USA is a leader in the production, supply, and consumption of energy. U.S energy companies more options for independent generators and require new connections to transmission systems. The U.S is the second largest investor in transmission and distribution networks globally with $65 billions invested in produce oil, natural gas, coal, renewable fuels, as well as electricity from clean energy sources, including 2017. The U.S is widely considered a global leader in “smart” energy technology investment. To support this wind, solar, hydropower, geothermal, and nuclear power. U.S energy companies further transmit, ecosystem, the U.S is an international leader in the development of smart grid technologies and services. distribute, and store energy through complex infrastructure networks that are supported by emerging According to the International Trade Administration’s 2018 Smart Grid Top Market Report, the U.S accounts products and services such as smart grid technologies. According to the International Energy Agency, for 36% of the total global capacity for electrochemical energy storage, a fast-growing subsector that can total investment in the U.S energy sector was $350 billion in 2018 (second-largest globally). Subsectors help address intermittency from renewable energy sources like solar and wind. include: Oil and Gas: The U.S is the world's top producer of petroleum and natural gas, which accounted for 60% of Renewable Energy: The U.S is home to a thriving renewable energy industry, with globally competitive all U.S energy production in 2018. The U.S remains a major source of growth in oil and gas exploration and firms in all technology subsectors, including the wind, solar, geothermal, hydropower, biomass, and development, especially in shale and ultra deep-water resources. U.S companies began exporting LNG from biofuels sectors. Today, the U.S has the most geothermal capacity of any country (3.7 GW); has the third- the continental U.S for the first time in 2016, sending shipments to major markets around the world. In 2017, largest bioenergy capacity (14.2 GW); the second-largest wind capacity (97.2 GW); the second-largest the U.S became a net natural gas exporter for the first time since 1957. These companies have developed hydropower capacity (102.1 GW); and the second-largest solar capacity (67 GW). The Department of advanced and cost-competitive techniques for extracting hydrocarbons from shale and hard to reach offshore oil and gas deposits, altering the U.S oil and gas sector and domestic energy landscape. Energy estimates that renewable energy has the potential to generate 80% of U.S. electricity by 2050, up from almost 20% today. Nuclear Energy: The USA operates the most nuclear reactors, has the largest installed nuclear power capacity, and generates the most nuclear power in the world. Nearly 20% of U.S electricity is produced at 97 Energy Efficiency: The market for achieving greater energy efficiency in the U.S is large and growing. The nuclear reactors in 29 states. By 2021, new nuclear reactors are expected to come online, and licenses are American Council for an Energy-Efficient Economy estimates that $83 billion was invested in 2018 on pending or have been issued for 10 additional new reactors. Subsectors of the civil nuclear industry are energy efficiency in the U.S. Existing policies, such as federal appliance standards, along with other represented by companies that produce nuclear components (reactors, nuclear monitoring instruments, Federal and State policies, and market forces are drivers of energy efficiency in the U.S. boilers, heat exchangers, industrial valves, instrument modules, insulation, economisers for boilers, pumps, and other reactor parts), nuclear fuel (uranium mining, conversion, enrichment, fuel assembly fabrication, Renewable Fuels: With access to abundant natural resources, the pellet and ethanol industries are also and spent fuel storage), nuclear engineering and construction (site preparation, materials and equipment increasing their capacity – particularly to serve overseas markets. America’s ethanol industry is the largest procurement, and construction), and nuclear advisory services (consulting on nuclear-related regulatory and most efficient in the world, incorporating technological innovations to produce over 16 billion gallons policies, human resources, infrastructure, legal services, and operations and program management services). of ethanol annually. In addition, the industry is expanding to new markets. In 2018, the U.S. ethanol industry exported an estimated 1.6 billion gallons of ethanol–around 10% of its total production–to markets around the world. Investment opportunities also exist for the development of advanced biofuels utilising new technologies and feedstocks, particularly in the aviation sector. Much of the production has been added in recent years to export to Europe.

Coal: The U.S holds the world’s largest estimated recoverable reserves of coal. In 2018, the U.S exported 15% of its coal with the remaining 85% sold to end-use markets, primarily the power sector and industrial customers. In 2018, coal was used to generate 27% of the electricity in the United States.

Electric Transmission and Distributed Utilities, Smart Grid, and Battery Storage: New energy, environmental, and security needs have accelerated public and private sector investments in grid modernisation and smart grid technologies. Increased investment in U.S grid modernisation includes 171 Sector Opportunities – Industrial

Energy Continued….. Energy Industry Associations Federal Programs & Legislation Alliance to Save Energy Department of Energy’s (DOE) First Instalment of the Quadrennial Energy Review (QER): Transforming American Boiler Manufacturers Association U.S. Energy Infrastructures in a Time of Rapid Change: Issued in 2015, the first instalment of the QER American Coal Council examines how to modernise the United States’ energy infrastructure to promote economic American Coalition for Ethanol competitiveness, energy security and environmental responsibility, and is focused on energy American Council for an Energy-Efficient Economy transmission, storage, and distribution, the networks of pipelines, wires, storage, waterways, railroads, American Council on Renewable Energy and other facilities that form the backbone of the U.S. energy system. The QER seeks to identify American Exploration & Production Council American Fuel & Petrochemical Manufacturers vulnerabilities in the system and proposes major policy recommendations and investments to replace, American Gas Association expand, and modernize infrastructure where appropriate. American Petroleum Institute American Public Power Association DOE Loan Guarantees: The goal of the Department of Energy’s Loan Guarantee Program, as defined in American Wind Energy Association the Energy Policy Act of 2005, is to provide Federal support, in the form of loan guarantees, to spur Biomass Power Association commercial investments in clean energy projects that use innovative technologies. The American Business Council for Sustainable Energy Recovery and Reinvestment Act of 2009 expanded the Program by providing loan guarantees for Distributed Wind Energy Association renewable energy systems, electric transmission systems, and leading edge biofuels projects. Edison Electric Institute Energy Recovery Council Energy Storage Association Department of Interior’s National Outer Continental Shelf Oil and Gas Leasing Program for 2017-2022: Geothermal Energy Association Offshore oil and gas resources in the U.S. Gulf of Mexico are highlighted as part of a five-year leasing GridWise Alliance program for high-resource areas. Independent Producers Association of America Industrial Energy Consumers of America International Association of Drilling Contractors International District Energy Association LNG Allies National Association of Electrical Equipment and Medical Imaging Manufacturers National Association of Energy Service Companies National Biodiesel Board National Hydropower Association National Mining Association Nuclear Energy Institute Nuclear Industry Council Petroleum Equipment and Services Association Renewable Fuels Association Solar Energy Industries Association Smart Electric Power Alliance U.S. Energy Association U.S. Industrial Pellet Association Utilities Technology Council

181 Sector Opportunities – Industrial

Environmental Technology Air Pollution Control & Monitoring: This includes air pollution monitoring and control technologies for both stationary and mobile pollution sources. Stationary sources include emissions from thermal energy The United States is the single largest market for environmental technologies in the world, representing a generation and industrial sources such as boilers, incinerators and smelters. Primary industries for air quarter of the $1.2 trillion global market. According to Environmental Business International, Inc., pollution monitoring and control include electricity, mining, cement, oil and gas refineries, and chemicals. approximately 114,000 enterprises and 1.6m workers make up the industry. In 2018, the total U.S. market There have been significant improvements in U.S air quality over the last several decades. According to the was estimated at $345 billion, with 54% from services, 21% from equipment and 25% from resources. U.S Environmental Protection Agency, since 1970, aggregate U.S emissions of six key air pollutants have dropped by an average of 70%. In 2018, U.S revenues for the air pollution control and monitoring sector, SME’s account for 99% of the industry and generate approximately 18% of the total revenue. Large including equipment and services, were estimated to be $21.5 billion. companies represent only 1% of private sector activity, yet account for 44% of revenue. Public-sector municipalities and similar entities make up the remaining 38% and dominate water utilities, wastewater Environmental Technology Industry Associations treatment works, and solid waste management. The U.S environmental technology industry has undergone significant restructuring and consolidation but has experienced growth over the past 15 years. Air & Waste Management Association Change of ownership and structure is expected to continue, particularly in the water sector where gaps American Water Works Association in infrastructure investment offer significant opportunities. Subsectors include: Institute of Clean Air Companies Institute of Scrap Recycling Industries Water: The water sector encompasses potable water provision and wastewater treatment industries, with Manufacturers of Emission Controls Association key segments including municipal drinking water delivery and treatment, municipal wastewater National Waste and Recycling Association conveyance and treatment, ground and surface water remediation, industrial process water treatment, Solid Waste Association of North America​ and industrial wastewater treatment. According to industry research, water utility management is Water and Wastewater Equipment Manufacturers Association relatively dispersed in the United States, with 3,900 utilities supplying 80% of the nation's drinking water Water Quality Association and treating almost half of all wastewater. Ownership structure vary from private concerns to state or municipally owned and operated facilities, with approximately 90% of all drinking water service provided by public utilities. Water consumption is declining in the USA based on increasing efficiencies in water management both at water utilities and by end-users. However, significant investment will be needed in the coming decades to maintain the quality of drinking water and continuing improvements in waste water management. Drinking water is delivered via one million miles of pipes across the country. Many of those pipes were laid in the early-to-mid-20th century, with a lifespan of 75 to 100 years. There are significant opportunities for investment in the subsector, with estimates of $1 trillion in public and private funds required to maintain and expand services to meet demand over the next 25 years.

Waste Management & Recycling: This includes solid and hazardous waste management, recycling and resource recovery, and soil pollution prevention and remediation technologies. The technologies needed by this sector depend on the composition and properties of the waste generated. U.S solid and hazardous waste management and remediation industry revenues in 2018 were $143.9 billion, predominantly from services. The recycling industry is driven by demand from the materials markets, and its growth is dependent on the price of raw materials. Industry research suggests the U.S recycling industry generates nearly $117 billion per year in economic activity.

191 Sector Opportunities – Industrial

Logistics and Transportation

The logistics and transportation industry is highly competitive and U.S business logistics costs reached $1.6 trillion in 2018 (8% of GDP that year). America's highly integrated supply chain network links producers and consumers through multiple transportation modes, including air and express delivery services, freight rail, maritime transport, and truck transport. Trucking revenues were $700 billion in 2017. Subsectors include:

Logistics services: This includes inbound and outbound transportation management, fleet management, warehousing, materials handling, order fulfilment, logistics network design, inventory management, supply and demand planning, third-party logistics management, and other support services. Logistics services are involved at all levels in the planning and execution of the movement of goods.

Air and express delivery services: In this space firms offer expedited, time-sensitive, and end-to-end services for documents, small parcels, and high-value items and is a $87 billion industry in the United States. EDS firms also provide the export infrastructure for many exporters, particularly SME’s that cannot afford to operate their own supply chain. Recent industry growth has been generated by the expansion of electronic commerce use by businesses and consumers.

Freight rail: High volumes of heavy cargo and products are transported long distances throughout the U.S via rail network. Each day, this 140,000-mile system delivers an average of 5 million tons of goods and serves nearly every industrial, wholesale, retail, and resource-based sector of the economy. In 2017, freight rail moves more than 70% of the nation's coal, 58% of its raw metal ores, 1.6 million carloads of wheat, corn, and other agricultural products, and 13.7 million intermodal containers and trailers that transport consumer goods.

Maritime: This includes carriers, seaports, terminals, and labour involved in the movement of cargo and passengers by water. Water transportation moves nearly 70% of all U.S international merchandise trade, including 72% of U.S. exports by tonnage.

Logistics and Transportation Industry Associations

American Association of Port Authorities American Society of Transportation and Logistics American Trucking Associations Association of American Railroads Council of Supply Chain Management Professionals Express Delivery and Logistics Association

201 Sector Opportunities – Industrial

Machinery and Equipment Mining: Equipment and machinery used to mine and extract natural resources. These include mining and Machinery manufacturing is one of the largest and most competitive sectors of the U.S manufacturing materials handling equipment and process controls, pumps, electric motors, and fluid power. economy. Tens of thousands of companies manufacture machinery in the USA and a majority of these manufacturers are SMEs but there are also many large, public companies that trade on a global scale. Machinery and Equipment Industry Associations Machinery is manufactured in almost every state, but production is concentrated in the industrial Midwest, California, and Texas. Association of Equipment Manufacturers (AEM) Association for Manufacturing Technology (AMT) Exports of capital equipment totalled $141 billion in 2018 alone. Leading markets for U.S. machinery National Electrical Manufacturers Association (NEMA) exports include Canada, Mexico, China, Germany, and Australia. The UK, Brazil, Japan, Singapore, and Association for Suppliers of Printers, Publishing and Converting Technologies (NPES) Belgium round out the top 10 export markets. Taken as a whole, the EU was the U.S. machinery Association for Packaging and Processing Technologies (PMMI) manufacturers’ third-largest market in 2018, after Canada and Mexico. Industrial Truck Association (ITA) National Restaurant Association (NRA) Engine Manufacturers Association (EMA) Among the wide range of machinery manufactured in the USA, construction machinery, engine National Association of Manufacturers (NAM) equipment, industrial process controls, agricultural equipment, and turbines and turbine generator sets led U.S. exports in 2018. Machinery industries provide essential and highly sophisticated technology for many other manufacturing and service industries. Industrial process controls and other automation technologies enable end-users to maximise the productivity of their equipment. Sales of many types of machinery are accompanied by a variety of high-value services as well, including specialised architecture, engineering, and logistics.

Agricultural and Food Machinery and Equipment: Equipment used to grow, process, package, transport, and distribute food and beverages. Includes agricultural equipment, food processing and packaging machinery, commercial and industrial refrigeration equipment, and commercial food service equipment.

Aerospace: Machinery include machine tools, material handling equipment, welding equipment, and process control technology.

Automotive: Automotive machinery and related systems, including machine tools, material handling equipment, welding equipment, and process control technology make up this subsector. Construction: This subsector includes self-propelled equipment, implements, accessories and components for use in construction, forestry, mining, and utilities. Off-road diesel engines and fluid power technology are also important components of off-road equipment.

Energy: Equipment and machinery for generating, transmitting and distributing electric power as well as machinery used for oil and gas exploration and production. Major categories include turbines, power transmission equipment, and internal combustion engines (except automotive gasoline and aircraft) for electric utility and industrial applications. Also includes oil and gas field machinery.

2 211 Sector Opportunities – Industrial

Agribusiness USDA Rural Development Business Programs provide financial backing and technical assistance to stimulate business creation and growth. The programs work through partnerships with public and private community- The U.S agribusiness industry is a major competitor in the global market and encompasses subsectors based organisations and financial institutions to provide financial assistance, business development, and such as agricultural chemicals, crop production, aquaculture, forestry and logging, and livestock. The technical assistance to rural businesses. These programs help to provide capital, equipment, space, job agribusiness industry contributed over $159 billion in export sales to the U.S economy in 2018. The U.S training, and entrepreneurial skills that can help to start and/or grow a business. Business Programs also agribusiness industry is expansive and provides important support to the economy and its workers. More support the creation and preservation of quality jobs in rural areas. than 2 million farms across the country cover over 900 million acres. The U.S agribusiness industry produced $388.5 billion in agricultural products in 2017 and directly employs over 311,000 workers in The USDA Economic Research Service is a federal statistical agency with the mission to anticipate trends and farming, fishing, and forestry occupations as of 2018, plus 115,000 in other occupations such as emerging issues in agriculture, food, the environment, and rural America and to conduct high-quality, engineering, production, and food science. Investors in the U.S agribusiness industry are supported by objective economic research to inform and enhance public and private decision making. the U.S Department of Agriculture’s series of grade shields, official seals, and labels representing the quality and integrity of products such as beef, chicken, fruits and vegetables, eggs, and organic products. Agribusiness Industry Associations Subsectors include: American Farm Bureau Federation Agricultural Chemicals: Includes the manufacturing, mixing, formulation, and preparation of fertilizers, American Poultry Association pesticides, and other agricultural chemicals. Ecological Farming Association Food Institute Food Marketing Institute Agricultural Commodities: Crop production, which produced $194 billion of goods in 2017. That year, the Grocery Manufacturers Association top agricultural commodities were corn and soybeans. Humane Farming Association Milk Producers Council Aquaculture: This is the cultivation of aquatic organisms in controlled aquatic environments, both in National Cattlemen's Beef Association marine and freshwater environments. Most U.S aquaculture (70%) pertains to the freshwater farming of National Pork Producers Council catfish and trout. Organic Trade Association

Forestry and logging: This involves the establishment, management, use, and conservation of forests, trees, and associated resources in a sustainable manner to meet desired goals, needs, and values.

Livestock: Includes the production of animal goods such as meat, dairy, wool, and leather. In 2017, livestock commodities accounted for half of U.S agricultural products with a value of $195 billion. Cattle and calves were the top livestock commodity in 2017, followed by poultry and eggs, and milk.

Federal Programs and Resources

The National Institute of Food and Agriculture (NIFA) provides leadership and funding for programs that advance agriculture-related sciences. It invests in and supports initiatives that ensure the long-term viability of agriculture. NIFA applies an integrated approach to ensure that new discoveries in agriculture- related sciences and technologies reach the people who can put them into practice.

221 Sector Opportunities – Industrial

Federal Programs & Legislation Textiles Revolutionary Fibres and Textiles Manufacturing Innovation Institute: In 2015, the Department of Defence committed $75 million to a competition for a Revolutionary Fibres and Textiles Manufacturing The U.S textile and apparel industry is a nearly $70 billion by value of industry shipments. It remains one Innovation Institute (MFT-MII). In 2016, it was announced that a consortium of over 50 companies and of the most significant sectors of the manufacturing industry and ranks among the top markets in the universities were awarded the grant to form a new manufacturing hub focused on revolutionary fibres and world by export value: $23 billion in 2018. The U.S industry is a globally competitive manufacturer of textiles technologies, the Advanced Functional Fabrics of America Institute (AFFOA), headquartered at MIT in textile raw materials, yarns, fabrics, apparel, home furnishings, and other textile finished products. In Cambridge, Massachusetts. AFFOA will bring over $300 million in public-private investment from leading recent years, companies have focused on reorienting their businesses, finding more effective work universities and manufacturers to develop futuristic fabrics and textiles helping to accelerate the revival of processes, investing in niche products and markets, controlling costs through advanced technologies, textile manufacturing in the United States. The AFFOA will ensure that America leads in the manufacturing of and reshoring/nearshoring production. Subsectors include: new products from leading edge innovations in fibre science, commercialising fibres and textiles with extraordinary properties.

Yarn (Staple and Filament): In 2018, U.S exports of yarn totalled nearly $4.5 billion, of which 60% went to Textiles Industry Associations nations in North and Central America. American Fibre Manufacturers Association (AFMA) Industrial Fabrics Association International (IFAI) Nonwovens: The end-use markets for nonwovens are classified as either disposable or INDA, Association of the Nonwoven Fabrics Industry durables. Disposables are made up of product categories such as absorbent hygiene, wipes, filtration, National Council of Textile Organizations (NCTO) medical and surgical and protective apparel, while durables are comprised of geosynthetics, home and U.S. Industrial Fabrics Institute (USIFI) office furnishings, transportation, and building construction. Nonwovens are being used to make products lighter, more efficient, and cost effective. More and more of these lighter and longer-lasting Industry Publications nonwovens are being introduced into a wide variety of fields. Fabrics and Furnishings International Specialty and Industrial Fabrics: Specialty and industrial fabrics serve an array of markets, from awnings Home Furnishings News (HFN) to automotive airbags. As the U.S specialty fabric business has continued to grow, some areas are seeing LDB Interior Textiles rapid advancement. Automotive textiles represent the most valuable market for industrial textiles in the Nonwovens Industry Magazine world. These materials cover a broad range of applications including upholstery and seating, floor Specialty Fabrics Review covering and trunk liners, as well as safety belts, airbags, thermal and sound insulators, filters, hoses, tires Textile World and a variety of textile-reinforced flexible and hard composites.

Medical Textiles: This is a growing fields. New products are being designed for less invasive surgical procedures, infection control, and accelerated healing.

Protective Apparel: The global industrial protective apparel market was worth $9 billion in 2018 and is expected to register a compound annual growth rate of 14% between 2019 and 2025. The United States has a large and growing presence in this subsector as the demand for protective apparel is expected to grow thanks to safety standards in the manufacturing, chemical, oil and gas, and construction sectors.

Fashion Apparel: The U.S. fashion apparel market is projected to reach nearly $400 billion by 2025.

231 Sector Opportunities – Industrial

Retail Consumer Goods Total retail sales (including motor vehicle and parts sealers) from 1 million retail establishments in the USA surpassed $5 trillion in 2017. The U.S retail industry directly employs about 29 million people and supports In 2019, the U.S consumer goods market (defined as consumer packaged goods) was the largest in the more than 42 million jobs. The National Retail Federation estimates that in 2017/18 retail sales increased by world, estimated at $635 billion. Industry subsectors include: appliances; toys; furniture and home 3.9% , and e-commerce sales increased 13%. Numerous opportunities for growth exist in the U.S retail furnishings; recreational boats; recreational vehicles; motorcycles; games; gifts; greeting cards; school market for retail providers of all sizes, including individual direct marketers or direct sellers, small- to and office products; jewellery; sporting goods; musical instruments; and processed foods and beverages, medium-sized franchise unit owners, and large “big-box” store operators. including water, juices, beer, wine, spirits, and all non-alcoholic beverages. According to the National Retail Federation, independent and privately held retail businesses account for Consumer Goods Industry Associations about 95% of the retail industry. Retail stores are the face of the industry, however, on-line sales continue to drive the success of the retail industry. Franchising has provided business opportunities in the U.S for more American Home Furnishings Alliance than 150 years. The model is widely embraced because it provides an established plan for business expansion American Lighting Association and a means of spreading risk. Franchising also offers assistance and support for new business owners by American Specialty Toy Retailers Association passing on a proven business model, along with training and support, advertising programs, and accounting Appalachian Hardwood Manufacturers, Inc. and payroll management. Association of Home Appliance Manufacturers The Business and Institutional Furniture Manufacturer’s Association International Retail Trade Industry Associations California Furniture Manufacturers Association Cookware Manufacturers Association Direct Marketing Association Craft and Hobby Association Franchise Direct Distilled Spirits Council of the United States International Franchise Association GAMA: The Game Manufacturers Association Franchise Times Grocery Manufacturers Association National Retail Federation International Housewares Association Retail Industry Leaders Association International Housewares Representatives Association Motorcycle Industry Council NAMM: International Music Products Association National Association of Independent Lighting Distributors, Inc. National Association for Printing Leadership National Golf Foundation National Shooting Sports Foundation Outdoor Power Equipment Institute Printing Industries of America Recreational Vehicle Industry Association School & Office Products Network Sports and Fitness Industry Association Toy Industry Association Wine America Wine Institute

241 Sector Opportunities – Creative, Digital & Tech

Media and Entertainment Software & ICT The U.S media and entertainment industry is the largest in the world. At $717 billion, it represents a third of The United States has the most advanced software and information technology (ICT) services industry in the global industry, and it includes motion pictures, television programs and commercials, streaming content, the world. More than 40% of the $5 trillion global market is in North America, primarily the USA and the music and audio recordings, broadcast, radio, book publishing, video games, and ancillary services and industry accounts for $1.8 trillion of U.S value-added GDP (more than 10% of the national economy) and products. The industry is expected to reach more than $825 billion by 2023, according to PwC. Subsectors: 11.8 million jobs. According to CompTIA, there are more than 525,000 software and ICT services companies in the United States (approximately 40,500 tech start-ups were established in 2018/19 alone). Filmed Entertainment (Motion Pictures, Television, and Video) This total includes software publishers, suppliers of custom computer programming services, computer The U.S filmed entertainment industry encompasses films, movie theatres, TV subscriptions and electronic systems design firms, and facilities management companies. Subsectors include: home video production, and distribution and consumption. Due to the rapid expansion of streaming video on demand (SVOD), television subscriptions declined slightly in 2019 (to $91 billion). Traditionally the film Cloud Computing Services: According to Gartner, the worldwide public cloud services market reached industry consisted of multinational umbrella corporations, major studios, and independent studios or $214.3 billion in 2019, ($182.4 billion in 2018). The USA is a leader in the cloud computing market and has “indies." Today, multi-channel networks and SVOD platforms are major drivers in growth. some of the largest companies in the sector. Infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) are expected to be the fastest-growing segments of the cloud services market. Video Games The U.S games industry revenues reached $26 billion in 2019. The sector is comprised of: physical, digital, Entertainment Software: Combined revenues in entertainment software from computer and video games and online games; mobile apps; and virtual and augmented reality. "eSports" is growing quickly: $281 billion in 2019 (double its size in 2016). The industry is constantly innovating and bringing new applications to are worth $15.4 billion and the subsector supports more than 146,000 jobs in the U.S alone. market. Using VR/AR, US developers and scientists are producing cutting-edge solutions in healthcare, education, online shopping, and entertainment. VR gaming has grown more than 14% since 2018. E-commerce: The McKinsey Global Institute estimated that in 2020, some 940 million online shoppers will spend almost $1 trillion on cross-border e-commerce transactions. This could be revised up however in Music light of COVID-19. The U.S music industry grew to $22 billion in 2019 and it is the largest global music market. Digital technologies have revolutionised the sector by creating high quality, low-cost recording technologies and Software and Information Technology Industry Associations digital distribution, along with the proliferation of devices to download and listen to music. Future growth will come from diversified services as they capitalise on opportunities to license brand name products and Business Software Alliance services, packaging consumer experiences around touring/live music, bundling music services with other Information Technology Industry Council online content services. Streaming will continue to grow and offer personalised services for consumers. Software and Information Industry Association Computer & Communications Industry Association (CCIA) Media and Entertainment Industry Associations CompTIA The App Association Creative Future Entertainment Software Association Independent Film and Television Alliance International Game Developers Association Industry Publications International Intellectual Property Alliance Motion Picture Association of America National Association of Broadcasters National Music Publishers Association SDTimes Association of American Publishers American Association of Independent Music Computerworld Computing Now Industry Publications: Computer Weekly Billboard Magazine Digital Media Wire Game Informer Publishers Weekly PricewaterhouseCoopers Entertainment & Media Outlook

251 Sector Opportunities – Creative, Digital & Tech

Cyber Security

The cyber security market in the U.S grew from $30.91 billion in 2013 to $51.82 billion in 2019. The market Fig 4.0 US Key U.S Cyber Companies by State (Source CB Insights 2019) is primarily driven by increasing government regulations and norms due to the widespread cyber threats. Leading players in the industry include Cisco Systems, IBM, Raytheon, Northrop Grumman, CSC, Symantec. The chart below and infographic opposite show the share of the U.S cyber security market by state and areas where new cyber companies are growing.

Fig 3.9 US States Ranked by Share of Private Cyber Companies (Source CB Insights 2019)

261 Sector Opportunities – Creative, Digital & Tech

Artificial Intelligence

A.I is one of the emerging technologies behind many companies digital transformation programmes. It has the ability to drive new innovation and Given A.I’s adoption across many industry verticals, there will be a cross- efficiencies across a number of sectors. It is also a key part of Greater Manchester’s Local Industrial Strategy and should be considered when looking sector approach to identify and projects, led by the MIDAS CDT team. at the U.S market given its size there. Funding to artificial intelligence companies soared in 2019. A.I start-ups received a record $26.6 billion across Work is being done on continuing to develop propositions to reflect over 2,200 deals - a 20% increase in funding to the sector. In 2019, the states that saw the most equity deals to A.I start-ups were California, New Greater Manchester’s strengths in A.I. From there, a programme of York, and Massachusetts, though investors have bet on A.I start-ups across the country. outreach will begin targeting high growth A.I companies like those listed in the map and targeting the A.I functions in large U.S corporates, in particular those that appear on the MIDAS T20 and Core target lists. Fig 4.1 Most Well funded A.I start-ups by State (Source CB Insights) The estimations are that A.I could add an additional £630 billion to the UK economy by 2035, increasing the annual growth rate of GVA from 2.5 to 3.9%. COVID-19 is placing pressures on global supply chains and in an effort to combat this, companies will increasingly start to build further resilience into their businesses by complementing product-focused models with scalable and stable digital alternatives. This might include businesses diversifying from their core offer to sell data and A.I assets to third parties.

MIDAS will develop digital activity to target U.S companies. Working with DIT to deliver webinars and virtual roundtables. As well as efforts to boost inward investment, Greater Manchester should also look to develop closer ties with leading academic institutions that are leading in the field of A.I research to enhance knowledge sharing and R&D collaboration. Fig 4.2 Top A.I Universities (Source CB Insights)

271 Sector Opportunities – Financial & Professional Services

Financial Services Financial Services Industry Associations Financial markets in the United States are the largest and most liquid in the world. In 2018/19, finance Alliance of American Insurers and represented 7.4% ( $1.5 trillion) of U.S gross domestic product. Financial services and American Bankers Association products help facilitate and finance the export of U.S manufactured goods and agricultural products. In American Benefits Council 2017, the United States exported $114.5 billion in financial services and insurance and had a $40.8 billion American Council of Life Insurers surplus in financial services and insurance trade (excluding re-insurance, the financial services and American Countertrade Association insurance sectors had a surplus of $69.6 billion). The financial services and insurance sectors employed American Insurance Association more than 6.3 million people at the end of 2018. As of 2018, at least 28 financial services companies out Emerging Markets Association of all companies in Fortune's Global 500 listing have chosen to locate their headquarters in the U.S Equipment Leasing and Finance Association Subsectors include: Finance, Credit & International Business Investment Company Institute Latin American Venture Capital Association Banking: By the end of 2018, the U.S. banking system had $17.9 trillion in assets. The sector supports the Mortgage Bankers Association world’s largest economy with the greatest diversity in banking institutions and concentration of private National Association of Insurance Commissioners credit anywhere in the world. National Venture Capital Association Property Casualty Insurers Association of America Asset Management: The U.S asset management subsector is unrivalled in its depth and diversity. U.S Reinsurance Association of America asset managers are currently meeting the pension management needs of over 60% of the global Securities Industry and Financial Markets Association retirement market. Total U.S retirement assets were approximately $28.2 trillion at the end of 2018. Small Business Investor Alliance Moreover, if insurance assets and mutual funds are included, U.S asset managers held nearly $51 trillion of long-term conventional in 2016 (47% of the global total for these funds). Fig 4.3 Top North American Cities by Companies (Source Business Facilities 2019)

Insurance: In 2016/17, the insurance industry’s net premiums written totalled $1.1 trillion. According to industry data, premiums recorded by life and health insurers accounted for nearly 53%, and premiums by property and casualty insurers accounted for 47%. Additionally, about one-third of all reinsurance sold worldwide is bought by U.S firms.

Venture Capital: The United States is the birthplace of the global venture capital industry and it continues to support many companies. In 2017, $84 billion was invested in the U.S VC industry across more than 8,000 different deals (Source: Pitchbook), the highest amount since the early 2000s and a 16% increase from 2016. VC-backed companies employ 38% of the U.S workforce of public American companies, and account for 82% of private sector research and development. These companies have historically generated revenue equal to 21% of U.S GDP. (Source: ).

Private Equity: U.S private equity firms invested more than $500 billion in U.S-based companies in 2017 and the industry comprises nearly 4,700 investment firms which own 30,000 private U.S companies.

281 Sector Opportunities – Financial & Professional Services

FinTech Fig 4.4 USA FinTech 250 (Source Business Facilities 2019)

FinTech is transforming the U.S financial sector, including the way people lend, invest, opt for loans, fund start-ups, and buy insurance. On average, one out of three digitally active consumers uses two or more financial technology services. As of 2018, the U.S accounts for 57% of the fintech market. The large increase in online digital-only banks and mobile phone payments has led to increased adoption of fintech money transfers and payment services. Key market players include Square; Avant; Stripe; Oscar Health and Affirm;

Digital Payments: Includes mobile transactions as well as POS via smartphone apps. Total transaction value amounted to $810 billion in 2017. The largest segment is Digital Commerce ($765 billion in 2017).

Personal Finance/Alternative Lending: Involves automated investment services that enable private investors to align their investment strategy or portfolio using automated recommendations. Total transaction value in in 2017 was $201 billion. The largest segment is Robo-Advisors ($189 billion in 2017).

Insuretech: S&P Global Market Intelligence’s 2018 U.S InsurTech Market Report projects that U.S private auto insurance premiums written via the direct-to-consumer channel will exceed $90 billion by 2022.

RegTech: The global RegTech market size was valued at $2.87 billion in 2018 and will expand by 52.8% from 2019 to 2025. High compliance costs and growing demand for regulatory intelligence are expected to contribute to the adoption of RegTech. The U.S market is worth approx. $500 million.

Blockchain: The global market for blockchain was $708 million in 2017 is anticipated to reach $60.7 billion by 2024. IBM and Microsoft are driving blockchain as their clients are making the transition to cloud services. Accenture has measurable market share as well. Gartner found that 82% of reported blockchain use cases were in financial services in 2017, but that sector’s portion dropped to 46% in 2018. Business leaders still perceive financial services to be the near-term future leader of blockchain, but also see potential in industrial products, energy and utilities and healthcare. Moreover, an early centre of gravity in the U.S and Europe is shifting and in three to five years, expectations are that China will be a leader in blockchain technology.

FinTech Industry Associations www.fintechpros.org/ http://aftweb.com/aws/AFT/pt/sp/home_page

291 Sector Opportunities – Financial & Professional Services

Professional Services Professional Services Industry Associations

Professional services firms in the United States generated $2 trillion in combined revenue in 2018 (11% American Association of Finance and Accounting increase from 2017). That same year, the U.S professional services industry included 9.4 million jobs American Bar Association spread out over 1.2 million firms. In 2017, North America was the largest region in the professional American Institute of Certified Public Accountants services market, accounting for about 37% of the global market share. Firms in subsectors provided American Marketing Association payroll services, financial auditing services, tax preparation services, and other consulting services for American Planning Association individuals and corporate clients. The sector's 144,500 firms employed 1.2 million professionals in 2018. American Society of Civil Engineers Subsectors include: Association of Management Consulting Firms Financial Accounting Standards Board Institute of Management Accountants Architectural services: This sector has 24,100 firms that generated more than $77 billion in revenue in Institute of Management Consultants USA 2018 (a 4% increase from the prior year), with a majority of that revenue generated from non-residential International Lawyers Network construction. The subsector includes firms primarily engaged in planning and design of residential, National Association of Professional Accountants institutional, leisure, commercial and industrial buildings and structures. As with engineering firms, many architectural firms are small, niche companies that typically complement the work of larger U.S firms with Industry Publications global footprints. ABA Journal Engineering services: This sector generated $262 billion in revenue in 2018 across 75,600 firms (a 6% Accounting Today increase from the prior year), with a majority of that revenue generated from industrial and Advertising Age manufacturing engineering. This sector also includes commercial and institutional architecture, American Lawyer transportation infrastructure, and power generation and distribution activities. Firms in this sector Architectural Record are primarily engaged in the design, development, and utilisation of machines, materials, instruments, Consulting Magazine structures, processes, and systems. Engineering News Record (ENR) Journal of Accountancy Legal services: Legal services generated $327 billion in revenue during 2018 across 190,700 firms (a 12% increase from the prior year). Firms in this sector provided a variety of legal services including litigation support, general corporate services, plaintiff and defence work for individuals and companies, patent agent services, paralegal services, and process serving services.

Management consulting: This sector generated $328 billion in revenue in 2018 across 265,000 firms (a 7% increase from the previous year). Firms provided consulting services in administrative and general management; human resources; marketing; process, physical distribution, and logistics; environmental; and other scientific and technical services.

301 Sector Opportunities – Life Sciences

Medical Devices Medical Technology Industry Associations The United States remains the largest medical device market in the world ($156 billion and 40% of the American Association of Medical Colleges global medical device market in 2017). By 2023, it is expected to grow to $208 billion. U.S exports of American Hospital Association medical devices in key product categories identified by the Department of Commerce exceeded $43 American Medical Association billion in 2018. The medical technology industry consists of articles, instruments, apparatuses, or Health Information and Management Systems Society machines that are used in the prevention, diagnosis or treatment of illness or disease, or for detecting, Advanced Medical Technology Association (AdvaMed) measuring, restoring, correcting, or modifying the structure or function of the body for some health American Orthotic and Prosthetic Association purpose. The industry includes almost 2 million jobs in the U.S and medical technology directly accounts Association for the Advancement of Medical Instrumentation (AAMI) for well over 300,000 of these jobs. More than 80% of medical device companies in the U.S consist of BIOCOM fewer than 50 employees, and many (notably start-up companies) have little or no sales revenue. Contact Lens Manufacturers Association U.S medical device companies are highly regarded globally for their innovative and high technology Dental Trade Alliance Health Industry Business Communications Council products. R&D spending continues to represent a high percentage of medical device industry Hearing Industries Association expenditures, averaging 7% of revenue. Compared to several other industries including automotive, Independent Medical Distributors Association defence, and telecommunications, the medical device industry invests a higher percentage of yearly International Association of Medical Equipment Remarketers and Servicers revenues into product innovation, reflecting the competitive nature of the industry and constant Medical Alley innovation and improvement of existing technologies. The medical device industry relies on several Medical Device Manufacturers Association (MDMA) industries where the U.S holds a competitive advantage, including microelectronics, telecommunications, Medical Imaging Technology Alliance (MITA) instrumentation, , and software development. Collaborations have led to recent advances National Association for Home Care & Hospice including neuro-stimulators, stent technologies, biomarkers, robotic assistance, and implantable The Association of Electrical and Medical Imaging Equipment Manufacturers electronic devices. Subsectors/areas of specialisation include: The Society for Biomaterials The Vision Council Dental equipment and supplies: Includes equipment, instruments.

Electro-medical equipment: Includes a variety of powered devices, such as pacemakers, patient- Industry Publications monitoring systems, MRI machines, diagnostic imaging equipment, and ultrasonic scanning devices.

In-Vitro diagnostics: Includes chemical, biological or radioactive substances used for diagnostic tests Business Monitor International performed in test tubes, Petri dishes, machines, and other diagnostic test-type devices. FDA News Health Affairs Irradiation apparatuses: X-ray devices, diagnostic imaging, as well as computed tomography equipment. Hospitals and Health Networks Journal of Medical Devices Surgical and medical instruments: Includes anaesthesia apparatuses, orthopaedic instruments, optical Managed Healthcare Executive diagnostic apparatuses, blood transfusion devices, syringes, hypodermic needles, and catheters. Medical Design Medical Device and Diagnostic Industry Surgical appliances and supplies: Includes artificial joints and limbs, stents, orthopaedic appliances, Medical Device Daily Medical Product Manufacturing surgical dressings, disposable surgical drapes, hydrotherapy appliances, surgical kits, rubber medical and MedTech Insight surgical gloves, and wheelchairs. Modern Healthcare

311 Sector Opportunities – Life Sciences

Medical Devices Continued… Minnesota - has an area known as “Medical Alley” and is home to Medtronic, the world’s largest medical device company as well as Mayo Clinic (the nation’s top health provider), United Health Care Group (the California, Minnesota and Massachusetts dominate the U.S medical device industry. But many other largest health insurer in the U.S) and 3M, one world’s largest advanced manufacturing and medical device states also play a significant role in MedTech. DeviceTalks https://www.devicetalks.com/ is an forum companies. St. Jude Medical is also there which Abbott acquired for $25 billion in 2018. There are 470 bringing together professionals to share the challenges and best practices of getting medical devices to medical device companies, 4 of which are headquartered there. In 2018, VC investment totaled $260 million market. The program takes place annually in Boston, Minnesota and California and is a great across 16 deals. Beyond well-known medical device companies with large presences in Minnesota — opportunity to network with the MedTech industry. Medtronic, Boston Scientific, Abbott, and Smiths Medical — Minnesota boasts a vast ecosystem of contract manufacturers, device testing outfits, designers, and regulatory and product development consultants to California – California (especially ; Orange County; San Jose; San Diego) is unrivaled when it support the industry. comes to the size of its medical device industry in terms of employment, patent numbers and the amount of VC investment. It has 2,037 medical device companies (2017), 19 of which are headquartered Massachusetts - There were 309 medical device companies in 2017, seven of which were headquartered in there. 2018 saw $1.6 billion in VC investments across 76 deals and the industry is made up of hubs the state. Whilst medical device industry employment levels are lower than other states, there are still major company headquarters and the hundreds of millions of public and private dollars annually spent on running down the length of the state. The North Bay region outside San Francisco is an important innovation. The Bay State is a medical research powerhouse. Its top research hospitals are among the best in medical device manufacturing hub. Two of Medtronic’s business units (Aortic and Peripheral Disease the nation: Mass General, Brigham & Women’s, Harvard Medical School, Beth Israel Deaconess Medical Management and Coronary and Structural Heart Disease Management) are based in Santa Rosa. Silicon Center, Boston Children’s, the University of Massachusetts Medical School, and Dana Farber. There was $499 Valley includes the dominant player in robotic surgery, Sunnyvale-based Intuitive Surgical. Cancer million in medical device VC investment in 2018 across 23 deals and headquarters of companies including treatment innovator Varian Medical Systems is headquartered in Palo Alto, and invisible, customised Boston Scientific, Hologic, Bruker, Haemonetics, Abiomed, Insulet and NxStage Medical. A quarter of orthodontics maker Align Technology is based in San Jose. Cooperation between medical device Massachusetts’ exports involve medical devices, a larger portion than any other state (Grant Thornton). companies and consumer technology companies, including Apple and Google’s life sciences sister company Verily, is increasing as more products roll out to monitor people’s health and catch problems Industry Associations and Research Institutions early. The region is also home to Carbon, a major 3D printing innovator that is forging partnerships with medical device companies including Johnson & Johnson and BD. In Milpitas, upstart Bigfoot Biomedical The University of Minnesota Medical Devices Centre http://www.mdc.umn.edu/ has a partnership with Abbott as it seeks to create an improved automated insulin delivery system for Medical Alley Association https://medicalalley.org/ diabetes treatment. The Fogarty Institute for medical device innovation is based in Mountain View. List of Medical Device Companies Minnesota https://biopharmguy.com/links/state-mn-all-geo.php Orange County exported more than $4 billion worth of life science exports by 2016 alone, about three- fourths involving medical device and diagnostic equipment shipments. The MedTech industry in the county as of 2016 was larger than most U.S states’ medical device workforces. The hundreds of firms in the county include Irvine-based Edwards Lifesciences, a major player in the cardiovascular devices space, and San Clemente-based ICU Medical, provider of IV-based therapies, systems and services. Johnson & Johnson’s vision surgical business, formerly part of Abbott, is based in Santa Ana. Besides Biocom, local industry boosters include OCTANe and the Device Alliance. The Alfred E. Mann Foundation for Scientific Research is based nearby in Valencia, and Medtronic’s diabetes business is based in the Northridge section of Los Angeles. San Diego is home to a number of companies pushing the boundaries when it comes to packaging digital health with medical devices, including Dexcom and its continuous glucose monitoring systems for diabetes management and ResMed and its CPAP equipment for treating sleep- related breathing disorders. Spine technology company NuVasive is also based there. The medical device industry in San Diego County had 211 companies as of 2016.

321 Sector Opportunities – Life Sciences

Digital Health Investors, Advocacy Groups, Accelerators & Incubators Digital healthcare is booming in USA and a number of factors support this growing penetration of digital health— ageing population, rising prevalence of chronic diseases, regulatory changes and a shift towards The start-up ecosystem in United States ranges from the world’s largest VC’s to global leaders in the healthcare and technology space to some of the best healthcare research institutions. In addition, there are value based care. numerous organisations advocating the cause of propelling digital healthcare. The list of most active VCs in this space in the last 5 years include names like Khosla Ventures, GE Ventures, KPCB, Sequoia, etc. Leading Leading enterprise players in the healthcare space continue to make interesting strategic moves in the healthcare corporations such as Mayo Clinic, Sanofi, J&J, Cleveland Clinic, etc. have also been very active in healthcare space and the future prospects for start-ups seems to be more tied to such large players- be promoting start-ups in the digital healthcare space. it in the form of investor, acquirer or strategic partner. Google is making strong waves by pioneering its Fig 4.5 U.S Digital Healthcare System (Source Business Facilities 2019) work in the A.I space, Amazon acquired Pillpack to enter the prescription drug domain and Microsoft is penetrating deeply in the healthcare industry. The much awaited joint venture between Amazon- Berkshire Hathaway-JP Morgan will be spearheaded by world renowned Dr. Atul Gawande. His leadership in this venture is expected to disrupt the entire digital healthcare space.

As the world moves towards preventive healthcare from a fee based model to value based care, the disruption in pharma industry will happen. Digital therapeutics, clinical trials and medication adherence are the key areas of interests for pharma companies. Hospitals are also becoming serious about digital technologies and setting up centres for innovation as well as integrating technological innovations in their care system. Artificial intelligence has been a subject of intense interest in healthcare and has seen increasing volume of activity from start-ups as well as enterprise players. The American Medical Association is also taking up A.I seriously and has recently outlined new set of recommendations on augmented intelligence.

The rising trend of preventing healthcare has paved way for symptom checkers and chatbots. A.I powered Chatbots, upgraded symptom checkers are allowing people to bring healthcare at home, even before a telemedicine consultation. Companies like Buoy Health and WebMD are making inroads into the symptom checker field with innovative and upgraded offerings. Telemedicine made great strides in 2018 after a new federal ruling and increasing adoption among newer generations. Recent studies have also validated the efficacy of telemedicine as compared to regular doctor visits, which has further propelled the growth of this sector. There has been an increasing number of activity in the mental health space with behavioural health companies raising record funding levels. $273 million across 15 companies was raised in first half of 2018.

The positive trend related steady flow of funding in the digital health sector observed in 2017 continued into 2018. This sustained growth in funding clearly points to the rising level of maturity that one expects in an emerging investment sector. It is noteworthy that investors are deploying capital at the fastest pace since 2006. Further, the deal sizes are also becoming large as later stage companies are doing sizable rounds. A total of $3.4 billion were invested in the first half of 2018 across 193 deals.

331 Sector Opportunities – Life Sciences

Fig 4.7 USA Life Sciences Groups, VC’s , Incubators and Accelerators Advocacy Groups & Technology Demonstrators Investors, Advocacy Groups, Accelerators & Incubators Continued….. American Telemedicine Association There are many digital health advocacy groups in USA that are driving the awareness and adoption of digital health technologies among the industry players. In addition, VC’s, Accelerators in the sector have been Centre for Telehealth and e-Health Law identified. These should be target multiplier organisations to reach out to when planning activity in the USA. Greater Plains Telehealth Resource and Assistance Centre

Fig 4.6 USA Digital Health System Biopharma Industry Clinical Decision Support Coalition

West Health Institute

Kaiser Permanente Centre for Total Health

American Society of Human Genetics

Future of Life Institute

Most Active VC’s in Digital Health

Khosla Ventures - 33

GE Ventures - 28

Andreessen Horowitz - 24

Venrock - 19

Qualcomm Ventures - 13

Sequoia Capital - 13

KPCB -13

NEA - 13

Norwest Venture Partners - 11

Founders Fund -10

Aberdare Ventures -10

341 Sector Opportunities – Life Sciences

Digital Health Accelerators & Incubators Digital Health Accelerators & Incubators

Pfizer and Galvanize Accelerator – San Francisco, CA Innov8 for Health – Cincinnati, OH

4Combinator – Guildford CT StartX Med – Stanford, ca

Illumina Accelerator Programme – San Diego, CA Lab – New York, NY

Samsung Open Innovation Centre – Palo Alto, CA Janssen Labs – La Jolla, CA and San Francisco, CA

University City Science Centre – Philadelphia, PA INFUSE Accelerator – Indianapolis, IN

Henry Ford Health System’s William Davidson Centre for Digital Health Entrepreneurs AVIA – Chicago, IL

Blueprint Health – New York, NY Wearable World Labs – San Francisco

Sprint Accelerator – Kansas City, MO Healthcare Innovation Lab – New York, NY

Healthbox – Chicago, Boston, Nashville, Florida, Salt lake City CTA Health IT by Canadian Consulate General – Philadelphia, PA

Start-up Health – New York, NY Brigham Innovation Hub at Brigham Woman's Hospital – Boston, MA

DreamIt Ventures – Bryn Mawr, PA DHS EMERGE Accelerator – Herndon, VA

Jumpstart Foundry – Nashville, TN Indie Bio – San Francisco, CA

Tigerlabs – Princeton, NJ Relevant Health Founders Forum – Rockville, ND

NewME – San Francisco, CA Wellville Accelerator – Simsbury, CT

WellTech Funding - New York, NY Forge Health Founders Forum – Atlanta, GA

Nike+ Accelerator – Portland, OR Cedars Sinai and Healthcare Accelerator – LA, CA

XLerateHealth – Louisville, KY AT&T Foundry for Connected Health

Health Wildcatters – Dallas, TX Plug & Play Health Accelerator – San Francisco, CA

SeedHIT Studio – Pasadena, CA Mass Challenge Digital Health Accelerator – Boston, MA

Project Lift – Miami, FL HAX Health – San Francisco, CA

Startupbootcamp – Miami, FL & NY John Hopkins Technology Ventures

351 Sector Opportunities – Life Sciences

Digital Health Research Institutions

The United States not only got one of the biggest start-up support ecosystems in terms of VCs, exploration by Greater Manchester partners such as the Universities and organisations like Health accelerators and incubators, but also access to one of the best for research support. Some of the top Innovation Manchester. Closer collaboration on research projects, particularly GM areas of focus such as names working towards accelerating digital health R&D are below and these are worth further healthy ageing and digital health from the LIS has the potential to facilitate more trade and investment and in turn jobs and economic prosperity. Fig 4.8 Digital Health Institutions Digital Health Research Institutions Enable Community Foundation

Stanford Centre for Digital Health Fogarty Institute for Innovation

UCSF Centre for Digital Health Innovation The innovation Institute UCSF Clinical and Translational Science Institute NYU Ability LAB Harris Centre for Precision Wellness Temple Lung Centre for Digital Health Duke Global Digital Health Science Centre Caryl and Israel Englander Institute for Precision Medicine at Weill Cornell Medical College Duke Obesity Prevention Programme Wearable Computing Centre – Georgia Tech Scripps Translational Science Institute Kavli Institute for Neuroscience and the University of California, San Francisco National Centre for Advancing Translational Sciences CTSA Program National Centre for Data to Health Partners Healthcare Connected Health Intermountain Healthcare Transformation Lab Mayo Clinic Centre for Innovation USC Institute for Creative Technologies Mayor Clinic for Individualised Medicine Penn Social Media 7 Health Innovation Lab Kaiser Permanente Centre for Health Research

Innovations at Cleveland Clinic UCSF Institute for Computational Health

Emergency Digital Health Innovation CVS Health Digital Innovation Lab

USC Centre for Body Computing Mt Sinai’s App Lab

361 Sector Opportunities – Life Sciences Fig 5.0 Digital Health Mega Deals ($100m+) 2018 (Source RockHealth)

Digital Health - Mergers & Acquisitions

Some of the recent acquisitions such as DaVita’s acquisition by Optum and Humana’s acquisition of Kindred Healthcare show that vertical integration is on the rise. Further, the positive ruling for AT&T and Time Warner merger has also raised hopes for mega mergers in the healthcare industry. These activities can lead to projects as mergers will cause companies to review their operational footprint and in turn location strategy.

Fig 4.9 Digital Health Acquisitions (Source Rock Health)

Fig 5.1 Behavioural Digital Health Companies (Source RockHealth)

371 Sector Opportunities – Life Sciences

Biopharmaceuticals

The USA is the largest market for biopharmaceuticals, accounting for around a third of the global Over-the-counter (OTC) drugs are distinguished from innovative and generic drugs in that consumers do market, and it is the world leader in biopharmaceutical R&D. According to the Pharmaceutical Research not need prescriptions to purchase them as are considered by regulators to be safe for self- and Manufacturers Association, U.S firms conduct over half the world's R&D in pharmaceuticals ($75bn) diagnosis/medication. In the USA, there are an estimated 100,000 OTC drug products marketed and sold in a variety of outlets. The OTC market in the USA is expected to continue growing due to an aging population, and hold the IP rights on most new medicines. The industry accounted for more than $1.3 trillion in consumer trends towards self-medication, and the conversion of drugs from prescription to OTC status. economic output, representing 4% of total U.S output in 2015 alone. More than 800,000 people work in the U.S biopharmaceutical industry across a broad range of occupations, including scientific research, Emerging sectors include precision medicine and regenerative medicine. 25% of the medicines approved by technical support, and manufacturing. Directly and indirectly, the industry supports more than 4.7 US the FDA and 40% of new medicines in the current R&D pipeline have the potential to be precision medicines. million jobs and the U.S attracts the majority of global VC investments in start-up biopharmaceutical enterprises. Subsectors include: Biopharmaceutical Industry Associations

Innovative (originator) chemically-derived drugs are developed from extensive R&D and clinical trials in Consumer Healthcare Products Association (CHPA) both human beings and animals. The innovator relies on patents, regulatory data protection and other Generic Pharmaceutical Association (GPhA) forms of intellectual property rights to justify the investment required to bring a product to market. The International Pharmaceutical Expedient Council U.S patent term is 20 years, and drugs are eligible for at least five years of market exclusivity depending Pharmaceutical Research and Manufacturers of America (PhRMA) on the time between patent validity and U.S Food and Drug Administration (FDA) approval. Synthetic Organic Chemical Manufacturers Association (SOCMA) Biotech Industry Association (BIO) Generic drugs are copies of innovative pharmaceuticals that contain the same active ingredient and are identical in strength, dosage form, and route of administration. In the United States, upon patent expiration or a successful challenge of relevant patents, a manufacturer can produce and sell a generic drug as long as it meets FDA approval and bioequivalence standards. Generic companies typically focus Fig 5.2 USA Biotech/Pharma Companies by State (Source RockHealth) on high volumes to earn profits, requiring efficient production methods and distribution chains. U.S generic drug sales reached an estimated $70 billion in 2018, representing a quarter of the global market, due to many drugs going off patent and healthcare policy changes favouring generics.

Biologics (biotech drugs) include a wide range of products such as vaccines, therapeutic proteins, blood and blood components, tissues, etc. In contrast to chemically synthesised drugs, which have a well- defined structure and can be thoroughly verified, biologics are derived from living material (human, animal, microorganism or plant) and are vastly larger and more complex in structure. Biologic medicines are revolutionising the treatment of cancer and autoimmune disorders and are critical to the future of the industry. Biologics now account for over a third of all new drugs in clinical trials or awaiting FDA approval.

Biosimilars (follow-on biologics) are versions of biologic products that reference the originator product in applications submitted for marketing approval to a regulatory body. Gaining regulatory approval in developed markets is far more complex for biosimilars than for chemical generics and may involve costly clinical trials.

381 Company Targeting – Fast Growing Businesses

Fig 2.6 INC 5000 Tool for Targeting (Source Inc 5000). Having looked at the evidence on which states/cities to focus on (please also refer to appendix I which aggregates the data and lists top 20 states to focus on) this section considers the tools and insights available to determine which companies should be prioritised. It uses industry benchmarking that analyses fast growing companies and those that have a strong track record of job creation. MIDAS have developed a business development programme that splits company targeting across three groups (see below). This report is designed to compliment documents such as the T20 and target lists that have been compiled for Core and ‘NextGen’ companies.

Fig 2.5 MIDAS Company Targeting Approach (Source MIDAS Business Plan)

T20 The largest and most strategically important blue-chip corporates for GM to engage with at company Core The main companies within each of the sector teams sub-sectors (e.g. cyber; ecommerce; MedTech)

NextGen Those fast-growing businesses who are receiving investment from VC’s and CVC’s

When profiling the states and cities to focus on, information has been captured on which companies are headquartered there and will help plan activity around targeting and engagement. The NexGen list has also been cross referenced with these states and cities and listed in the state profile found in the appendix. The remaining area that needs more development is the ‘Core’ list of companies. The Inc 5000 website is a way for the MIDAS teams to build up their lists of ‘Core’ companies to target and expand upon the ‘NextGen’ list as all the firms in this index are there because of their high growth rate.

To say a little more about this tool…..Inc. is a US business magazine founded in 1979 and best known for its annual rankings of the fastest-growing privately held companies in the U.S, called the "Inc. 500" and "Inc. 5000.“ In 2019, Inc 5000 released their annual ranking of America’s most exciting and fastest growing businesses. These companies generated $237.7 billion in sales last year with an average revenue of £47.5 million and a three-year growth rate $157.4 %. The Inc. 5000 is ranked according to percentage revenue growth over a three-year period.

There are also other indices that can be tracked to identify high growth U.S businesses such as this annual review published by the FT. https://www.ft.com/americas-fastest-growing-companies-2020 and this visualisation tool from Fortune magazine https://fortune.com/fortune500/2019/visualizations/

These will be valuable sources when profiling companies to target when engaging in any U.S activity. It will help determine which are the fastest growing companies across a range of sub-sectors that align with Greater Manchester’s priorities.

39 Company Targeting - Largest Job Creators FDI

These are the blue-chip employers that according to FDi analysis, are creating the most jobs/projects Fig 2.7 Destination of U.S FDI Flow (Source Orbis 2013-Present). Company No. of Projects Jobs Created Company No. of Projects Jobs Created

284 119,316 41 12,897

27 23,333 24 11,448

62 22,629 25 11,131

74 20,490 33 10,119

95 17,282 101 10,166

68 16,746 46 9,913

81 16,706 147 9,253

49 15,232 29 9,056

107 14,821 75 8,077

101 14,172 70 7,576 xxxxxxxxxxxxxxxxxxxxxxx. 27 14,036 43 7,513

151 Company Targeting - Largest Job Creators FDI Continued…

Company No. of Projects Jobs Created Company No. of Projects Jobs Created Conclusions

The largest job 34 7,389 27 4,232 creators per sector team are:

• CDT: Amazon; 30 7,272 28 2,566 Cloudfare; Apple

• FPS: Mastercard 33 6,937 25 2,505 • IND: Amazon; Lear; Ford 44 6,608 25 2,265 • LS: Johnson & Johnson; 37 6,559 27 1,931

32 6,263 26 1,067

25 5,093 25 1,267

26 5,092 27 935

63 2,971 36 870

32 4,663 25 795 xxxxxxxxxxxxxxxxxxxxxxx. 39 4,157 149 300

161 U.S VC Investment into Europe/UK

In the last couple of years, U.S venture capital (VC) firms have shown considerably more interest in Europe and are deploying more capital to the continent. At the start of 2020, the well known Silicon Fig 1.9 Profile VC Example (Source: Beauhurst 2020))​ Valley VC firm Sequoia announced it was setting up in the UK and has been one of many US funds showing this trend. Sequoia has been involved in a number of very successful tech investments such as Apple, Google, PayPal, Dropbox, LinkedIn, Eventbrite, Airbnb, Stripe and WhatsApp. In January 2020 it opened an office in London which illustrates the increasing interest in the UK/European tech ecosystem. Time will tell on the success of this move and it is not the first move by U.S funds into Europe.

Access to early stage capital has been a challenge for businesses in Greater Manchester and developing stronger links with U.S VC firms has the potential to bring more funding to our start-ups, helping them to scale and create jobs. In some cases these VC’s are setting up an office which also creates jobs and opportunities. Greater Manchester should look to identify (and partner with) those active VC’s that are looking at Europe/UK. Below is a list of the more active U.S VC investors.

Fig 1.8 Top funders by number of deals (Source: Beauhurst 2020)​

Fig 2.0 VC Mapping Process (Source MIDAS)

Outcomes Research Outreach Attract VC Capital and Most Active US VC’s Build into U.S plans Offices .

Conclusions

MIDAS and its partners should undertake an exercise mapping out key VC/CVC players in the USA, looking to see where existing relationships exist and create a portfolio deck of key investment opportunities from those firms seeking to raise capital. These VC’s can be targeted to attend Digital City Festival and met during in-market activity.

111 Manchester & USA Connectivity

Fig 2.8 List of Direct flights Manchester to U.S (Source Manchester Airport 2020 Manchester Airport is the UK’s third largest airport and serves 30 million passengers a year. It is located 15 minutes from the city centre by rail it offers direct services to 225 global destinations including 14 domestic cities, 12 U.S cities and most major European cities. It is also increasing its connectivity with direct flights to Asia.

Manchester Airport itself is to get a dramatic £1 billion transformation over the next 10 years with a super- sized terminal and faster high-tech security lanes. This is one of the biggest single construction projects ever to take place in Manchester and the scheme will more than double the size of Terminal Two and link it to an improved Terminal Three. Among a range of high-tech changes will be a scheme to pre-clear American immigration in Manchester. In terms of the U.S market, Manchester Airport currently offers direct flights to New York; San Francisco; Chicago; Houston; Miami; Orlando; Las Vegas; Boston; Atlanta; Philadelphia; L.A and Seattle. There are frequent discussions around route development based on demand and connectivity is only set to increase moving forward. Traditionally, the east coast of the USA has been better served by Manchester but there are increasing connections developing along the west coast and mid-west. In light of COVID-19 however, the routes will be monitored as there is a high risk that after the pandemic, the damage to the aviation and airline industry will be severe and some of these flights may be suspended or cancelled.

Future developments at Manchester Airport include the £800 million Airport City which includes logistics, manufacturing, office and hotel space next to the airport. Ongoing and future transport improvements include the £290 million Eastern Link relief road, which opened in 2018. A High Speed 2 station known as Manchester Interchange, is earmarked for opening in 2033 and will create a regular sub-10-minute shuttle service for connecting rail passengers between central Manchester and the Airport while relieving stress on the Line to the Airport from Manchester, which has become one of the most congested routes on the network. The airport has recently undergone a major expansion programme to double the size of Terminal 2 which will enable it to handle 35 million passengers. Capacity exists for up to 50 million passengers annually with two runways.

Conclusions

Good connectivity between the USA and Manchester is essential for developing strong partnerships across areas such as trade, investment, tourism and research. Manchester Airport already has well established air routes with the USA. In developing any U.S activity its important that a partnership approach is taken to link in conversations happening across industry, aviation and public sector.

171 Leveraging Manchester Alumni Network

Earlier in this report the recommendation was that a ‘TeamGM’ Fig 2.9 University of Manchester US Alumni Network (Source University of Manchester 2020) approach needs to be adopted in order to achieve success given the size and diversity of the U.S market. This involves bringing together a coalition of partners and stakeholders to build a ‘virtual network’ to support Greater Manchester’s ambitions in the U.S.

One of those partner groups are the universities who have strong connections in the U.S. The University of Manchester has approximately 7,900 alumni living and working in the USA. These people have graduated here then gone on to work in senior roles for businesses or teaching positions at colleges such as Harvard, Columbia, Stanford and the University of California. Many of the T20 companies have people working for them who studied/are from Manchester. The map opposite shows the current list of active alumni across the USA and MIDAS should work with the universities where possible to see where this network can be engaged for U.S activity. Existing initiatives such as the ‘mBassador’ programme should be developed further and those representatives approached to support mayoral visits led by GC or from our partners planning activity in North America.

The North American Foundation for The University of Manchester (NAFUM) is an independent fundraising organisation in the U.S and many alumni are members. This could be one organisation to reach out to when developing U.S planning. The key contacts for the alumni network in the U.S can be found here. https://your.manchester.ac.uk/get-involved/global-networks/north- america/

Further research is needed into understanding the alumni networks across Greater Manchester’s other universities (MMU; Salford and Bolton).

Conclusions & Actions Leveraging UOM alumni networks in the USA should be built into standard check-lists when carrying out activity in North America or when looking to profile targets (T20). A dual approach will be needed, working with UOM colleagues and their overseas representatives

181 Key USA Growth Centres – Corporate Headquarters

The U.S is a large market and therefore its important a focussed approach towards planning and Business Facilities is a media company specialising in the site selection industry. Each of their channels engagement is adopted in order to be most effective. Prioritising states and cities that best align with educates corporate executives on issues related to choosing the best location for their business. This has sectors and areas of interest is key to ensuring the most efficient and productive outcomes are achieved. given Business Facilities extensive reach into the site selection marketplace. Business Facilities has been a Locations will be decided by looking at business and industry related data (such as the presence of large key source of intelligence on corporate expansion and relocation since 1968, covering the full range of blue-chip corporates, through to fast growing start-ups and SME’s). Using an evidence-based approach the experience, from “how-to” information on comparing the financial incentives offered by different to prioritise which states and cities to focus on is crucial, and this paper draws on a variety of different communities around the world, to profiles of the latest relocations undertaken by major corporations. The sources to determine this. These include the Inc 500; FT; Conway; FDi; Business Facilities; IPA reports and Business Facilities brand consistently focuses on innovative, strategic ideas that help C-Level executives market research papers. make the best location choices.

The Inc. 500 is a ranking of the top 500 U.S companies, based on their revenue growth rate. It ranks Their most recent report (Business Facilities’ 15th Annual Rankings 2019) analysed U.S locations across a privately held companies according to averaged year-over-year sales growth over the past four years. range of business factors and the findings are presented below. With approximately 75% of all new job creation in the U.S coming from small businesses, the Inc. 500 is a prescient indicator of the companies and industries that are driving growth. Over the years, the Inc. 500 Conclusions: has identified the next generation of world-class companies, with Microsoft, Timberland, Oracle and Domino's Pizza all appearing on the list before they became industry powerhouses. The list also breaks down the presence of companies by state into a Top 10 ranking so this will be used as one method of • New York, Houston and Chicago determining which states to prioritise. are the top 3 cities in terms of the presence of corporate HQ’s.

• Atlanta, San Antonio and Phoenix are the top-ranked large metros for Economic Growth Potential.

• Atlanta and the wider Georgia area is gaining strong traction as a red-hot tech centre. The metro area is home to 16 Fortune 500 companies.

• The Atlanta metro area is the 10th-largest metro economy in the nation with a GDP of $385.5 billion.

Fig 2.1 Top 10 States by Inc 500 Presence (Source Inc 500 2019) Fig 2.2 Top US Cities for Corporate HQ’s (Source: Business Facilities 2019). 12 Key USA Growth Centres – Start-up Ecosystems

The USA ranks no. 1 globally (among 202 countries), for the strength of its start-up ecosystem. Some of Fig 2.3 US Start-Up Ecosystems (Source: Business Facilities 2019 the most well know and vibrant start-up ecosystems are San Francisco Bay, New York, L.A and Austin.

Business Facilities have analysed which cities are the best for nurturing the next generation of fast growing companies. The top 10 metros for start-ups each offer a growing skilled workforce, a mix of emerging growth sectors and the quality of life that amplifies talent attraction.

Austin, Denver and New York are the cities for start-up ecosystems. Austin is a dynamic, cosmopolitan city that established its high-tech credentials 20 years ago. It’s got a diverse workforce with the skills that are needed in tech-oriented start-ups and an eclectic cultural scene that draws in new talent.

According to the global ranking of start-up ecosystems report (2017), the U.S has seven locations that appear in top 20. Rounding out the top 10 in the Business Facilities start-up ecosystem category are Houston, San Jose, Orlando, Nashville, Atlanta, Raleigh-Durham and Salt Lake City. Nashville has become a thriving healthcare hub that is drawing many life sciences start-ups to Tennessee’s capital. With a strong quality of life offer, this helped cement Nashville’s place in this category. The tables opposite illustrate those start-up and economic areas that have the greatest growth potential and so should be taken under consideration for future planning Conclusions

This data is telling us that the key states to focus on from a corporate HQ perspective are California; Florida, Texas and New York. Key cities within those include New York, Houston, Dallas; Chicago, Atlanta and San Francisco. In terms of start-up ecosystems which are giving rise to the next generation of fast growing companies, the key ones include Austin Denver; New York; Houston and San Jose.

Fig 2.4 US Growth Centres (Source: Business Facilities 2019)

13 Trends in Corporate HQ Movements

This section analyses the trends in U.S location strategy for corporate headquarters. When Amazon In addition to Chicago’s large headquarters concentration, rust belt cities like Minneapolis, Detroit, St. Louis, announced that it would locate its ‘HQ2’ in both New York City and Arlington, Virginia, major media Pittsburgh, Cleveland, Cincinnati, Columbus, and Milwaukee still number among the nation’s leading centres outlets published articles complaining that big tech was reinforcing the growing gap between coastal for corporate headquarters, despite many of them seeing large drops in their numbers. In the west, Denver superstar cities and left-behind cities in the middle of the country. Amazon did also announce a smaller and Seattle each added eight headquarters for a 400% rate of growth, and San Antonio also saw a 400% increase. Washington D.C added 13 new headquarters, for a growth rate of 300%. America’s headquarters facility in Nashville, but there was still a level of criticism, fuelled by the nearly $3bn in taxpayer-funded geography reflects the substantial variation and specialization of the US economy. New York leads in finance incentives. Research carried out by the University of Toronto School of Cities team suggests that and business services, consumer services, and goods and materials. But Houston leads in energy, San Jose in America’s corporate headquarters are actually spread much farther and wider across the economic tech, and Chicago in retail and wholesale. Chicago also ranks second in consumer services, and goods and landscape than is big tech. The data in this section has tracked the location and changing economic materials, and Dallas takes third in energy. Other cities like Nashville and Minneapolis take third in consumer geography of Fortune 500 headquarters for the past four decades (One caveat is the research excludes services, and goods and materials, respectively. service firms, because in 1975, they were not included in Fortune’s list). Fig 3.0 Movement in US corporate HQ’s (Source University of Toronto) New York City initially appeared a winner with Amazon until backlash over state subsidies led to them reversing that decision. Google and facebook are expanding there. However New York has actually seen a substantial decline in its corporate headquarters since 1975. While it is true that coastal tech hubs like San Francisco and Seattle have all gained headquarters in recent decades, so have Sunbelt cities like Houston, Dallas, Atlanta, and Miami. Headquarters remain sprinkled across large and small places in the heartland, like tiny Bentonville, Arkansas, where Walmart is quietly building its new “home office.”

The map opposite paints the picture, showing the total change in headquarters from 1975 to 2017 in the top 28 cities. While New York has the largest number of corporate headquarters, that number has fallen from 84 in 1975 to 70 in 2017, a decline of 17%, America’s second largest metro, saw a similar 17% decline. Chicago, the nation’s third largest metro, saw an even bigger decline, 28%, losing 19 headquarters since 1975. Despite picking up General Electric, Boston saw a 21% decline in its Fortune 500 headquarters between 1975 and 2017. Big tech has made the San Francisco Bay Area, which spans the San Francisco and San José metros, the nation’s second largest centre of corporate headquarters with 35, compared to Chicago’s 33. Indeed, the Bay Area increasingly looks like America’s new “Second City,” at least based on headquarters, a testament to the power of high-tech in the USA economy.

Other places across the country have posted even faster rates of growth. In the west, Denver and Seattle each added eight headquarters for a 400% rate of growth, and San Antonio also saw a 400% increase. Washington D.C added 13 new headquarters, for a growth rate of better than 300%.

The Sunbelt has also seen substantial growth as a headquarters locale. Dallas and Houston rank third and fourth, with 22 and 20 respectively, each posting a 60%-plus growth rate. Miami, which has solidified its position as the economic and financial centre for Latin America, has seen 200% growth in its headquarters, while Atlanta and Nashville have posted 50% growth since 1975.

191 Trends in Corporate HQ Movements Continued….

Fig 3.1 Share of Fortune 500 HQ by Industry (Source: Inc 5000 2019). Fig 3.2 Change in share of Fortune 500 HQ by region (Source INC 5000 2019)

Conclusions

There are notable observations when looking at the location of corporate headquarters across America’s eight major mega-regions. Not surprisingly, the “Bos-Wash” mega-region, the largest in the United States, leads with 137 headquarters, though that number is down 19% since 1975. As for the Rustbelt: Its great “Chi-Pitts” mega-region, stretching from Chicago through Detroit to Pittsburgh is second, with 89 headquarters, though it is also down since 1975. The Texas Triangle of Dallas, Houston, and Austin takes third place with 53, up substantially since 1975. The Northern California mega-region around the Bay Area is next, followed by Char-Lanta in the Sunbelt, SoCal which stretches from Los Angeles to San Diego, Cascadia (Seattle and Portland), and So-Flo (Miami, Orlando, and Tampa) which tripled its number of corporate headquarters.

201 Scoring Matrix for State Focus

In this table, the data and research that’s been gathered is used to apply a scoring matrix that allows us to determine which states to focus on Sector Strength Conclusions: State Fortune 500 NextGen/Mickledore 5000 Inc Score FPS CDT Life Sciences Industrial The Top 5 States: California 3 3 3 3 3 3 2 21 • California Florida 3 1 2 1 2 2 2 13

Texas 3 3 3 1 2 2 2 16 • New York; Massachusetts

New York 3 3 3 3 3 2 1 18 • Texas Virginia 3 2 1 1 2 1 2 12 • Illinois Illinois 2 3 2 2 2 1 2 14 • Minnesota; Florida Georgia 2 2 2 2 2 1 1 12

Maryland 2 2 1 1 2 1 1 10

Colorado 2 2 2 1 2 1 2 12

North Carolina 2 2 1 2 2 2 2 13

Massachusetts 3 1 3 3 3 3 2 18

New Jersey 2 1 2 2 1 2 2 12

Ohio 1 1 2 1 1 2 3 11

Pennsylvania 1 3 2 1 2 1 2 12

Indiana 1 1 1 1 1 1 3 9

Minnesota 1 1 2 2 2 3 2 13

Washington State 1 2 1 1 2 2 2 11

Arkansas 1 1 1 1 1 1 1 7

Michigan 1 2 1 1 1 2 3 11 Fig 5.3 Scoring Matrix for Tennessee 1 1 1 1 1 1 1 7 State Prioritisation

491 MIDAS State Focus

Based on the researched gathered (see also Appendix 1: Top 20 State Analysis) the table below Conclusions highlights the key states and cities the MIDAS sector teams should prioritise when developing business plans given the subsector focus/areas of interest. MIDAS should focus on 3 corridors 1) West/South West 2) East/South 3) Mid-West. There are currently Fig 5.4 MIDAS Teams Sub Sectors and Focus States/Cities discussions underway to recruit in-market resource in the US, potentially three or four consultants that would be representing the Northern Powerhouse. These corridors are suggestions on where these Team Sub Sectors and Focus States/Cities individuals could be based/what areas they should cover. In terms of the four MIDAS sector teams, the suggested locations of focus are: FinTech Payments Banking Prof. Services • Creative, Digital & Tech: California; New York; DC/Maryland/Virginia Corridor FPS Georgia (Atlanta) New York (NY) New York Illinois (Chicago) • Financial & Professional Services: New York; Georgia; California California (San Francisco) (Illinois Massachusetts (Boston) New York (NY) • Life Sciences: Minnesota; New York, California Chicago) Massachusetts (Boston) Illinois (Chicago) • Industrial: Texas; Colorado; Ohio/Michigan Corridor

Cyber Ecommerce A.I / Data

D.C and surrounding area Maryland & Seattle, California (San San Francisco; CDT Virginia. California (San Diego; San Francisco, New York Silicon Valley, New Francisco) New York; Texas (San York, Boston, Antonio) Massachusetts (Boston) Austin, Seattle Pennsylvania(Pittsburgh/Pennsylvania)

Industrial Advanced Materials Industry 4.0 Low Carbon

Mid-West Illinois (Chicago) Michigan Arizona (Phoenix) Texas Texas (Houston) (North West Ohio) (Austin) Pennsylvania California 9San New York, South Carolina, Colorado (Pittsburgh) North Jose; San Francisco, Carolina (Charlotte) San Diego, California (LA) Colorado

MedTech Healthy Ageing Digital HealthTech Key California - San Jose; Palo Alto; California, San Francisco, San Life Sunnyvale; Mountain View Massachusetts, NY, Diego, Seattle FPS Sciences Orange County – Irving; Santa Ana Seattle, Texas Texas: Houston, Massachusetts (Boston/ Cambridge) Austin CDT Minnesota (Minneapolis) Valencia; L.A; San Diego Industrial Indianapolis, Chicago, Michigan Fig 5.5 Top 3 Focus States for MIDAS Teams Life Sciences

50 Conclusions & Actions

Evidence to Support Resource Allocation Increasing US Venture to Greater Manchester

This paper has been developed to compliment existing MIDAS strategies and initiatives. Whereas the T20 Attracting U.S venture capital to Greater Manchester will help our companies establish and scale, creating was about identifying who were the major corporations to target, this paper runs parallel to that and jobs and economic growth. Prior to COVID-19, the UK was already seeing an increasing number of VC firms analyses the USA, identifying the best locations to target. Both papers will help the business set up in the UK. They create jobs directly but also indirectly through the firms they’re investing in. MIDAS development/marketing teams focus resource. This will help MIDAS and DIT as plans are developed to have begun mapping out the key VC firms in the U.S who are funding fast-growing companies. In all U.S recruit U.S NPH representation. Based on data looking at economic growth centres and the presence of activity, these firms should be contacted as part of standard engagement. MIDAS will aim to grow this list large and fast-growing companies, the key states to focus on are: California; New York; Texas; and work with partners who have existing relationships with VC’s and can facilitate introductions. Working with Business Growth Hub, GC Business Finance and other members of the Manchester finance community Massachusetts Illinois; Minnesota and Florida. These create 3 corridors 1) West/South West 2) we should aim to create a portfolio deck of GM’s most exciting start-ups who are looking to raise capital. East/South 3) Mid-West. Where the T20 identified the large companies to build strategic conversations We’ll also conduct analysis on the most active Corporate Venture Capital divisions of U.S T20 companies that with, this paper takes the T20 and incorporates it into the state level analysis, also adding NextGen lists have interests in sectors related to the Local Industrial Strategy. This is another way to build upon existing so teams have a clear idea on who they should be contacting when engaging with that state/city. This T20 profiles, gathering insights such as investment interests and key contacts. These VC’s/CVC’s should be will make the process of planning in-market activity easier as insights have been brought together. targeted during in-market activity and invited to webinars and events such as the Digital City Festival

Supporting Trade; Knowledge Exchange and Route Development Increasing Re-Investment from US Companies in Greater Manchester Whilst the original purpose of this paper was to examine the GM-US relationship through an inward MIDAS will continue to strengthen its capabilities on account management as re-investment from investment lens, the data can also be used by partners with an interest in other areas such as trade and existing companies will be even more crucial to job growth during/after the COVID-19 period as FDi research. The paper explores the opportunities in the U.S market and can help businesses interested in levels are impacted. A tri-layer approach on account management should be developed further, exporting there by mapping out companies, partners and ecosystems they may wish to work with. U.S increasing relationships not just at the regional level, but nationally and internationally. In the last couple accelerators, incubators, chambers of commerce and research institutions have been identified and closer of years, MIDAS has increased its account management capacity through a strategic partnership with collaboration with these will help Greater Manchester’s overall objective to build ‘economic bridges’ with the DIT. Further analytics will take place on the key job creators in GM, plus better understanding of the USA. These ‘bridges’ will help facilitate further trade, investment and knowledge exchange. Partners should look to examine the information gathered where they have an interest and a TeamGM approach be applied. companies that could grow as a result of COVID-19. Applying this tri-layer approach, MIDAS will look to take GM’s propositions to this audience. The T20 already has many companies from the U.S but the data captured doesn’t contain much information from a local perspective. The recommendation is that the Developing the ‘TeamGM’ approach T20’s are developed so they contain this (blue-sheets) so MIDAS can better identify projects. Where there are other U.S companies in GM with no T20 completed (but they are large job creators), teams Finally, this paper is designed to be a foundation document for MIDAS and its stakeholders/partners across should consider creating one. Whenever U.S activity takes place (whether virtual or in-market), this paper Greater Manchester - to build better relationships with the U.S and increase jobs and prosperity. There is much more that can be added to this paper and over time, we much want partners to contribute to its should be used as a tool to focus efforts and identify companies to engage with across sectors. development, adding insights, contacts and links they have with the US. This will help the ‘TeamGM’ approach that is needed in order to fully realise the U.S opportunity. Partner and stakeholders include DIT, Supporting Trade and Investment GMCA, universities, commercial funders and multipliers. The MIDAS multiplier strategy identified the key intermediaries we should look to engage with in markets like the US. That paper compliments the work The evidence highlights the importance of the U.S from an FDi perspective. Historic periods of market contained here. Its important U.S engagement in Greater Manchester is developed in a structured and volatility have also shown U.S investors tend to be more ‘bullish’ than their global counterparts, therefore coordinated manner, which will send the signal that we’re aligned in our planning and offer a multi-faceted this is a logical market to be aligned with during COVID-19. Data also shows that California, New York proposition that is simple to engage with. We propose to have a series of consultations with partners and and Illinois are the top origin states for FDi into the UK, supporting the findings in this report. Tech stakeholders to share the findings of this paper and will invite feedback. Once that process is complete we Centres, Sales offices and Manufacturing/Logistic operations accounted for the bulk of the projects, can incorporate wider partner objectives and ensure these are factored into all future U.S engagement. This coordinated approach will bring greater efficiencies and better outcomes of success. therefore MIDAS should continue to strengthen propositions and offers for these enquiries. 511 Appendix I: State Level Analysis Top20

521 Key Headquartered Companies California

Summary

California is in the Pacific Region of the United States and its state capital is Sacramento with other key cities including Los Angeles, San Francisco, San Diego, San Jose and Syracuse.

California's economy, with a gross state product of $3.0 trillion, is larger than that of any other state and is the largest sub-national economy in the world. If it were a country, California would be the fifth-largest economy globally (larger than the United Kingdom, France, or India). The Greater Los Angeles Area and the San Francisco Bay Area are the nation's second- and third-largest urban economies ($1.253 trillion and $907 billion respectively as of 2017), after the New York metropolitan area. The San Francisco Bay Area had the nation's Sacramento highest GDP per capita in 2017 and is home to three of the world's ten largest companies by market capitalisation (Apple; Alphabet and facebook). In total, over 10% of Fortune 1000 companies were based in San Francisco California in 2019, the most of any state. The state is considered a global trendsetter in innovation, popular culture, environmentalism, and politics. San Jose The economy of California is varied, with many sizable sectors. The most dominant of these sectors include High Technology, Financial Services; Creative Industries; Business Services; Government and Manufacturing. Much of the economic activity is concentrated in the coastal cities, especially Los Angeles, which has a relative focus on Media—most notably Hollywood—and the San Francisco Bay Area, which predominantly Los Angeles concentrates on technology. Both cities, along with other major ports such as San Diego, also act as significant trade hubs to and from the United States. As of 2018, Los Angeles is home to three Fortune 500 companies: AECOM, CBRE and Reliance Steel & Aluminium. Compared to other states, California has a strong San Diego agriculture industry (key products include fruit, vegetables, dairy, nuts and wine production). The Energy sector is also significant with oil drilling having played a key role in the development of the state. Key Cities Key Industries

San Francisco High-Technology; Hardware and software – semiconductors; scientific instruments, electronics; Aerospace; Commercial Shipping & Transportation; Biotechnology; Medical Devices; Financial Services; Law; Manufacturing.

LA: Media – TV & Film; Financial Services; Law; Aerospace; Oil; Fashion; Manufacturing San Jose Tech (Hardware & Software; Payments - HQ of Cisco and PayPal) Medical Devices San Diego Defence; Military; Medical Devices; High Tech (semiconductors - HQ of Qualcomm) Sacramento High-Tech; Microchips (Intel HQ) Healthcare; Government; Education.

2 53 Sector Analysis Mickledore Companies

Technology - Silicon Valley is in the southern part of the San Francisco Bay Area in Northern California and Company MIDAS Team Company MIDAS Team serves as a global centre for high-technology, innovation, and social media. It corresponds roughly to the geographical Santa Clara Valley, although its boundaries have increased in recent decades. San Jose is the Cepheid Life Sciences Intuitive Surgical Life Sciences Valley's largest city and third-largest in California. Other major Silicon Valley cities include Palo Alto, Menlo Park, Redwood City, Cupertino, Santa Clara, Mountain View, and Sunnyvale. The area is now home to Edwards Lifesciences Life Sciences Accuray Inc Life Sciences many of the world's largest high-tech corporations, including the headquarters of more than 30 businesses LifeMap Life Sciences Apple Life Sciences in the Fortune 1000, and thousands of start-up companies. Silicon Valley also accounts for one-third of all of the VC investment in America which has helped it to become a leading hub and start-up ecosystem for Masimo Corp Life Sciences Bio-Rad Life Sciences high-tech innovation and scientific development. The region employs approx. 250,0000 information technology workers and is the biggest high-tech manufacturing centre in the United States As more high- MD Revolution Life Sciences Activision Blizzard CDT tech companies were established across San Jose and the Santa Clara Valley, and then north towards the Medable Life Sciences Arxan CDT Bay Area's two other major cities, San Francisco and Oakland, the term "Silicon Valley" has come to have Qualcomm Life Life Sciences Bechtel Industrial two definitions: a geographic one, referring to Santa Clara County, and a wider one, referring to all high- tech businesses in the Bay Area. More traditional industries also recognise the potential of high-tech Zoeticx Life Sciences Proteus Digital Health Life Sciences development, and several car manufacturers have opened offices there to capitalize on its entrepreneurial ecosystem. NextGen Companies

Media - The economy of Los Angeles is driven by entertainment (television, motion pictures, video games, music recording). Two of the six major film studios, Paramount Pictures and 20th Century Fox, are within Company Team Company Team Company Team the city limits, their locations being part of the so-called "Thirty-Mile Zone" of entertainment headquarters Hims Life Sci Chime Tech Checkr CDT in Southern California. Netflix and Disney is also headquartered in Los Angeles. Hippo Insurance FPS Robinhood FPS LendingHome CDT Financial Services – San Francisco has a diversified service economy that includes a strong financial services Hollar CDT Plaid FPS Ajax Health Life Sci sector. The legacy of the California Gold Rush turned San Francisco into the principal banking and finance centre of the West Coast in the early twentieth century. Montgomery Street in the Financial District became HouseCanary CDT Illumio CDT Alector Life Sci known as the "Wall Street of the West", home to the Federal Reserve Bank of San Francisco and the Wells Impact Biomedicines Life Sci Envoy CDT Arcus Biosciences Life Sci Fargo corporate headquarters, Many large financial institutions, multinational banks, and venture capital firms are based in or have regional headquarters in the city. With over 30 international financial institutions Innovium CDT The Athletic CDT ARMO BioSciences Life Sci six Fortune 500 companies and a large support infrastructure of professional services—including law, public relations, architecture and design San Francisco is designated as an Alpha(-) World City. In the 2017 Global Karius Life Sci Gritstone Oncology Life Sci Codiak Biosciences Life Sci Financial Centres Index, Los Angeles was ranked as having the 19th most competitive financial centre in the Katerra CDT Essential CDT Collective Health CDT world, and sixth most competitive in United States (after New York, San Francisco, Chicago, Boston, and Washington DC KeepTruckin CDT AltSchool CDT Color CDT Kespry CDT Atom Tickets CDT FLX Bio Life Sci Life Sciences - There are more than 3,200 Life Sciences companies in the state which has strengths in Diagnostics; Medical Devices; Human Health; Biofuel and AgriTech. Last year over 200 new companies Kezar Life Sciences Life Sci Branch CDT Forty Seven Life Sci were created and the sector has attracted $6.6 billion in VC in 2017 (the next highest was Massachusetts). There are currently 1,200 medicines and devices in the pipeline to improve patient care. The industry is Ladder FPS Brandless CDT Gossamer Bio Life Sci developing solutions to treat cancer, infectious disease, immune diseases and central nervous system Lendeavor FPS Databricks CDT Helix Life Sci disorders. In 2016, the industry earned $169 billion in revenue and employs 300,000 people. Farmers Business LendingUSA FPS CDT Honor Life Sci Network Manufacturing - Manufacturers in California account for 11% of the total output in the state, with the key strengths being in Biotech; Advanced Manufacturing; Food Processing, and Information Technology. LightStep CDT Light CDT IDEAYA Biosciences Life Sci

5421 NextGen Companies NextGen Companies

Company Team Company Team Company Team Company Sector Company Sector Company Sector

Lime CDT Robin Systems CDT Varo Money CDT Sun Basket CDT Branch International CDT Eaze CDT Lyra Health Life Sci Roofstock CDT Virgin Hyperloop One Industrial RealtyShares FPS Brex FPS EdCast CDT Madison Reed, Inc. CDT SiFive CDT Virta CDT Livongo Life Sci Bungalow CDT Eidos Therapeutics Life Sci Menlo Security Life Sci Singular CDT Vium Life Sci Metacrine Life Sci Carbon Industrial Elastifile CDT Mission Bio Life Sci Sixup CDT VoxelCloud Life Sci ORIC Pharmaceuticals Life Sci Cargomatic Industrial Equidate CDT Mist Systems CDT Skydio CDT WITHIN (VR/AR) CDT PACT Pharma Life Sci Chorus CDT Esperanto Technologies CDT Neural Analytics Life Sci Software Is Correct CDT Wizeline CDT Pliant Therapeutics Life Sci Clarify Health Solutions Life Sci Even.com CDT NimbleRx CDT Sonder CDT Wonolo CDT Revolution Medicines Life Sci Cloud9 CDT Exabeam CDT Noodle Analytics, Inc CDT Soothe Life Sci Yellowbrick Data CDT SutroVax Life Sci Cloudvirga CDT Faire CDT 4D Molecular Nozomi Networks CDT StreamSets CDT Zebit, Inc. CDT Life Sci Clutter Industrial FIGS CDT Therapeutics Omniome Life Sci Synthorx Life Sci Zoox CDT 5 Point Medical, Inc. Life Sci CNEX Labs CDT Front App CDT OmniSci CDT Sysdig CDT Zume Pizza CDT AEye, Inc. CDT Cohesity CDT Future Family Life Sci Opendoor CDT System1 CDT Next Insurance FPS AgeX Therapeutics Life Sci Contrast Security CDT Glint FPS Terns Parsable CDT Life Sci Samsara CDT Pharmaceuticals Agora.io CDT Cred FPS Globality FPS PatientPop Life Sci Tigera CDT Ripple Foods CDT Allbirds CDT DataVisor CDT GOAT CDT PayJoy FPS TP Therapeutics Life Sci Shift CDT Alto Pharmacy Life Sci DeepMap CDT Grail Life Sci PeerStreet FPS Tricida Life Sci Live.me CDT Anomali CDT Demisto CDT Grove Collaborative CDT Plenty CDT TripActions CDT Mesosphere CDT Area 1 Security CDT Deserve CDT GrubMarket CDT Poseida Therapeutics Life Sci Trucker Path CDT Nauto CDT AtScale CDT Divergent 3D Industrial Habana CDT Primary Data CDT Turvo CDT Patreon CDT AutoGravity FPS Dividend Finance CDT Harpoon Therapeutics Life Sci ProducePay CDT TuSimple CDT Reflektive CDT Bigfoot Biomedical CDT Domino Data Lab CDT HashCash Consultants FPS Puls CDT Unchained Labs CDT ServiceTitan CDT Bird CDT DoorDash CDT Heal CDT Rigetti Computing CDT Upgrade Inc. FPS SignalFx CDT BitGo CDT DroneDeploy CDT Health IQ Life Sci Ripcord CDT Uplift CDT Symphony Comms CDT BlueVine FPS Eargo CDT High Fidelity CDT

5521 Ecosystem Spotlight: Silicon Valley Fastest Growing Company News

News If Silicon Valley were a country, it would be among the richest on Earth. With $128,308 per capita in annual • Aug 2019: The Hottest San Francisco Start-ups https://www.inc.com/sophie-downes/san-francisco-fastest- gross domestic product, Silicon Valley residents out-produce almost every nation on the planet. It is growing-companies-2019-inc5000.html located in a region in the southern part of the San Francisco Bay Area in Northern California and serves as a global centre for high technology, innovation, and social media. It corresponds roughly to the geographical Santa Clara Valley, although its boundaries have increased in recent decades. San Jose is the • Oct 2019: Meet the fastest-growing private companies in the Bay Area in 2019- Valley's largest city, the third-largest in California, and the tenth-largest in the U.S and other major Silicon https://www.bizjournals.com/sanfrancisco/news/2019/10/17/meet-2019s-fastest-growing-private-companies- Valley cities include Palo Alto, Menlo Park, Redwood City, Cupertino, Santa Clara, Mountain View, and in.html Sunnyvale. • Here Are the 10 Fastest-Growing Companies in San Diego - https://www.inc.com/anna-hensel/2015-inc5000- The area originally housed a number of innovators and manufacturers specialising in silicon-based MOS 10-fastest-growing-companies-in-san-diego.html transistors and integrated circuit chips. The area is now home to many of the world's largest high-tech corporations, including the headquarters of more than 30 businesses in the Fortune 1000, and thousands • These 9 tech start-ups in San Diego are among fastest-growing in US of start-up companies. Silicon Valley also accounts for one-third of all of the venture capital investment in https://www.sandiegouniontribune.com/business/technology/story/2019-08-15/reporters-notebook the United States, which has helped it to become a leading hub and start-up ecosystem for high-tech innovation and scientific development. It was in Silicon Valley that the silicon-based integrated circuit, the • Fastest Growing Companies in Los Angeles – 2020 https://growjo.com/city/Los_Angeles microprocessor, and the microcomputer, among other technologies, were developed. • Oct 2019: Silicon Valley’s 2019 fastest-growing private companies, revealed The region employs about a quarter https://www.bizjournals.com/sanjose/news/2019/10/14/fast-growing-private-companies-awards-2019.html of a million information technology workers. As more high-tech companies were established across San Jose and the Santa Clara Valley, Existing Greater Manchester Links and then north towards the Bay Area's two other major cities, San Francisco and Oakland, the term • Good relationship with DIT based in San Francisco – Jaclyn Mason "Silicon Valley" has come to have two definitions: a geographic one, • Direct flight between Manchester – San Francisco and L.A referring to Santa Clara County, and a metonymical one, referring to all • Sam Evans, ex MIDAS employee for CDT sector worked in SF with DIT post and a law firm. Good connections with high-tech businesses in the Bay U.S market on west coast Area. Home to nearly 2 million, the San Jose metro area includes Stanford University in Palo Alto, • Marketing Manchester have links with Virgin Atlantic who operate the L.A/SF route Google’s headquarters in Mountain View and Apple HQ in Cupertino. • Latham & Watkins – U.S Law firm headquartered in L.A – MIDAS brought them to Manchester in 2014 and there Half the world’s tech billionaires live exists a good relationship. in Silicon Valley; a sizable portion of the remainder live just north in the San Francisco Bay Area. After the dot-com crash, Silicon Valley continues to maintain its status as one of the top research and development centres in the world.

5621 Collaboration Partners

Organisation Description Sector Organisation Description Sector

California Development Corporation States economic development body Government Accelerator in Mountain View with Tech notable exits such as Airbnb, Dropbox, https://business.ca.gov/ https://www.ycombinator.com/ Stripe, Reddit and Coinbase, CalTech Research university in Pasadena, Academia California 500 Start-ups 500 Start-ups is a seed and early stage Tech https://www.caltech.edu/ venture capital fund, consisting of 4 https://500.co/ major funds and 13 micro funds San Francisco Chamber of Commerce Chamber of Commerce General Plug and Play Sunnyvale based accelerator focused on Tech https://sfchamber.com/ FinTech; InsurTech; IoT; Retail; Mobility. https://www.plugandplaytechcenter.com/ Health; Supply Chain/Logistics San Jose Silicon Valley Chamber Chamber of Commerce General MassChallenge Although based in Boston, has large SV Biotech & https://www.thesvo.com/ presence. Focus on Biotech and Fintech. FinTech https://masschallenge.org/ OrangeFab Platform connecting start-ups to Tech corporations https://www.orangefab.com Edvenswa Tech San Jose accelerator focussed on A.I and A.I Software https://edvenswa.com/#/main Alchemist Accelerator Accelerator Tech

https://alchemistaccelerator.com/ Berkeley SkyDeck Accelerator in Berkeley focused on Data; Robotics Software, Data, Robotics Rock Health Health care accelerator Health Tech https://skydeck.berkeley.edu/

https://rockhealth.com/ Founder Institute Palo Alto based Global Start-ups Tech Manos Accelerator Google backed accelerator Tech https://fi.co/ https://manosaccelerator.com/ GSVlabs Based Redwood City, - immersive start- FinTech Greenstart Low carbon focussed accelerator GreenTech up incubator in FinTech https://www.gsvlabs.com/ http://www.greenstart.com/

5721 Key Headquartered Companies New York

Summary

New York state is in the North-eastern United States and its most populous city is New York City. The next 4 populous cities are Buffalo, Rochester, Yonkers, Syracuse and the State Capital is Albany The size of New York state ranks 3rd in the U.S, behind California and Texas. If New York State were an independent nation, it would rank as the 11th largest economy in the world.

New York City and the surrounding metro area dominate the economy of the state and is known as a global city and often described as the Finance, Culture and Media capital of the world. It is also home to key institutions such as the United Nations. Manhattan is the leading centre and considered the world’s financial capital. It has the largest commercial office market in the U.S and home to many of the world’s leading corporations and Fortune 500 companies such as Goldman Sachs, JP Morgan and AIG. IBM and PepsiCo, 2 Rochester other Fortune 500 companies have their headquarters in in Westchester County, just north of New York City. Buffalo New York state also has a large manufacturing sector, which includes printing and publishing and the Albany production of garments, furs, railroad rolling stock, and bus line vehicles. Some industries are concentrated in upstate locations also, such as ceramics and glass (the southern tier of counties), microchips and nanotechnology (Albany), and photographic equipment (Rochester). New York's agricultural outputs comprise dairy products, cattle and other livestock, vegetables, nursery stock, and apples.

Long Island has played a prominent role in scientific research and in engineering. It is home to the East New York Coast's largest industrial park - the Hauppauge Industrial Park which has over 1,300 companies and the area is also the location of the Brookhaven National Laboratory. Tech Valley, the technologically recognised area of eastern New York State, has spawned a western offshoot into the Rochester. Since the 2000s, Rochester’s economy has been redirected toward high-technology, in particular photographic processing and imaging. Key Cities Key Industries

New York Financial Services ; Investment and Commercial Banking; Asset and Hedge Fund Management; Legal Services; Insurance, Media & Communications; Advertising and Creative Industries (Digital Media, Arts; Publishing; Fashion; Design & Architecture High Technology Real Estate; Health Care and Medical Research.

Buffalo: Services; Healthcare; Bioinformatics; Genome Research; Light Manufacturing; Rochester: High-Technology (photographic processing and imaging); Food & Drink; Albany: High Tech; Food & Drink; leading research centre (University of Rochester Government; Healthcare; more recently Tech (part of Tech Valley).

58 Sector Analysis NextGen Companies

Financial Services - New York City’s most important sector lies in its role as the centre for the U.S financial industry, traditionally concentrated on Wall Street but also now found in Mid-Town. Lower Manhattan is home to the New York Stock Exchange; Wall Street and the NASDAQ. and the Company Website MIDAS Team Securities industry is a major component. New York City remains the largest global centre for public equity and debt capital markets and is a major hub for Hedge Fund Management; Private Equity and M&A. Life Sciences Several investment banks and investment managers are headquartered in Manhattan and are important www.blinkhealth.com participants in the global financial system. New York is also the principal commercial banking centre of the United States. Some of the key financial services firms include JPMorgan, Citigroup, Goldman Sachs, Life Sciences Morgan Stanley. Originally, Wall Street was the dominant area as regulations required brokerage firms to https://www.capsulecares.com be close to the stock exchange to deliver physical paper copies of stock certificates each week. As technology has many financial firms found that they could move to midtown and the financial industry has Life Sciences been slowly migrating from its historic home in the warren of streets around Wall Street to the more www.classpass.com spacious and glamorous office towers of Midtown Manhattan. Morgan Stanley, JP Morgan Chase and Citigroup, all moved north. Life Sciences www.exosomedx.com Law - New York is a major centre for the legal industry and the HQ to global firms such as White & Case, Life Sciences WLRK, Sullivan & Cromwell; Davis Polk and Wardwell, Cleary Gottlieb https://www.imagen.ai

Manufacturing – accounts for a significant share of employment (233,000 in NYC alone). Key strengths Life Sciences include Garments; Chemicals; Metal Products; Processed Food and Furniture. Food processing is the most www.kallyope.com stable major manufacturing sector in the city. Chocolate is NYC’s leading export and companies such as Godiva are HQ’d in NYC along with others in Brooklyn know as the Chocolate District. New York state has Life Sciences http://www.landmarkhealth.org a large Manufacturing sector (in particular printing and publishing and the production of garments; furs; railroad rolling stock and bus line vehicles). Some industries are concentrated in upstate locations such as Life Sciences Ceramics and Glass; Microchips and Technology (Albany and Photographic equipment Rochester). The www.ovidrx.com states also produces a lot of agricultural products such as livestock and fruit/vegetables. Life Sciences Tech and Biotech – In addition to its reputation as a centre for finance, in recent years, many of the west http://pymetrics.com coast tech giants such as Facebook and Google have opened major operations in Manhattan and the tech industry now accounts for more office space take-up than financial services. Silicon Alley centred around Life Sciences the flatiron district in Midtown South but has since spread and the tech industry here now employs 500,000 http://www.quartethealth.com people. Silicon Alley has strengths in FinTech; Game Design; Software Development. The state capital Albany is home to ‘Tech Valley’ and this area is where IBM are based as well as other high technology Life Sciences companies in Nanotechnology; Digital Electronic Design and Integrated Microchip Circuit Manufacturing. https://rapidsos.com/

Life Sciences Health Care – research and medical devices drive the states health care sector. After Massachusetts, the https://www.thriveglobal.com/ state receives, the highest amount of funding for research in the U.S. Life Sciences Media & Film – New York is by far the most important centre for U.S Mass Media, Publishing and https://www.ymabs.com/ Journalism. It is a prominent location for the entertainment industry with many films, TV shows and other Life Sciences media being set here. NYC is the second largest centre for film and TV production in the U.S after https://www.common.com/ Hollywood. Manhattan is a global centre for advertising, traditionally concentrated on Madison Avenue.

5921 NextGen Companies NextGen Companies

Company Website MIDAS Team Company Website MIDAS Team

FPS http://www.advisorengine.com http://www.thecreditjunction.com/ FPS

https://andela.com/ FPS http://www.yieldstreet.com FPS https://axoni.com/ FPS https://www.awaytravel.com/ Industrial www.betterment.com FPS Industrial www.getbread.com FPS http://boweryfarming.com/

www.digitalasset.com FPS http://www.boxed.com Industrial

FPS https://www.easyknock.com http://www.helloalfred.com Industrial

http://www.forter.com FPS www.shapeways.com Industrial www.greenhouse.io FPS http://wheelsup.com/ Industrial http://kashable.com FPS CDT www.lemonade.com FPS http://www.aaptiv.com

https://www.mighty.com FPS https://www.acvauctions.com/ CDT

http://www.moneylion.com/ FPS http://aminoapps.com CDT http://www.nsre.com/ FPS www.artsy.net CDT www.octanelending.com FPS www.bettercloud.com CDT www.payoneer.com FPS CDT https://www.petalcard.com/ FPS http://www.bluecore.com

FPS www.stashinvest.com www.cadre.com CDT

6021 NextGen Companies NextGen Companies

Company Website MIDAS Team Company Website MIDAS Team

http://cheddar.com/ CDT https://makespace.com/ CDT https://www.claroty.com/ CDT http://mparticle.com CDT www.collibra.com CDT CDT www.convene.com CDT https://www.patmcgrath.com/

https://www.dia.com CDT http://pebblepost.com/ CDT

http://filmrise.com CDT http://www.reonomy.com CDT www.fubo.tv CDT www.seatgeek.com CDT www.giphy.com CDT CDT https://www.glossier.com/ CDT http://www.securityscorecard.com

www.GroundTruth.com CDT www.touchbistro.com CDT

http://www.harrys.com CDT http://transfix.io/ CDT www.industriousoffice.com CDT http://www.trilogyed.com CDT www.invisionapp.com CDT CDT www.kaltura.com CDT www.uipath.com

www.key.me CDT www.vroom.com CDT

www.kobaltmusic.com CDT www.whistlesports.com CDT http://www.Latch.com CDT www.workfusion.com CDT https://www.letgo.com CDT CDT www.zetaglobal.com CDT www.yotpo.com

6121 Mickledore Companies

Company Website MIDAS Team

https://www.genpact.com/ FPS

https://www.moodysanalytics.com/ FPS

https://www.niceactimize.com/ FPS

https://www.betterment.com/ FPS

http://hexanika.com/ FPS FPS https://www.lemonade.com/de/en https://flatiron.com/ Life Sciences

https://www.medidata.com/en/ Life Sciences

https://www.angiodynamics.com/ Life Sciences

https://www.bms.com/ Life Sciences

https://www.pfizer.com/ Life Sciences

https://www.regeneron.com/ Life Sciences

https://www.appnexus.com/ CDT

https://www.fanduel.com/ CDT

https://www.blueapron.com/ CDT

https://www.sprinklr.com/ CDT

https://www.augury.com/ CDT

https://www.take2games.com/ CDT

6221 Ecosystem Spotlight: Silicon Alley Fastest Growing Company News

Silicon Alley is an area of high tech companies located around southern Manhattan's Flatiron district. The • Aug 2019: NYC Inc List https://www.inc.com/christine-lagorio-chafkin/new-york-city-fast-growing-companies- term was coined in the 1990s during the dot-com boom, alluding to California's Silicon Valley tech centre. 2019-inc5000.html

The term has grown somewhat outdated though as since 2003, New York tech companies have also • August 2019: Bulletin NYC https://www.builtinnyc.com/2019/08/14/top-5-nyc-tech-companies-inc-5000-list spread outside of Manhattan. That said, Manhattan is still the main centre, especially at the emerging Hudson Yards real estate development, as well as in Brooklyn and adjacent Long Island. Among New • 2019: 29 Fastest Growing in NYC https://www.thefarmsoho.com/magazine-blog/small-businesses-in-nyc York’s appeal to employers is its sheer size, with a vast cadre of white-collar workers and a youth-skewing population, which is the first generation of digital natives. • 2018: Crain's fastest growing companies https://www.crainsnewyork.com/awards/2018-fast-50

New York City has approx. 400,000 employees in the tech sector and in 2016, New York companies drew • 2018: JLL Growth of NY Life Sciences sector https://www.us.jll.com/en/views/new-york-city-life-sciences-sector- over US$7.3 billion in venture capital. High technology start-up companies and employment are growing in primed-for-growth New York City and across the metropolitan region, bolstered by the city's emergence as a global node of creativity and entrepreneurship, social tolerance, and environmental sustainability. In addition New York's • Feb 2020: 48 NY Fintech Companies Shaking Up Finance https://www.builtinnyc.com/blog/fintech-startups-nyc position as the leading internet hub and telecommunications centre in North America, including its vicinity to several transatlantic fibre optic trunk lines, the city's intellectual capital, and its extensive outdoor wireless connectivity adds to its credentials. • Top 11 Fintech Companies in New York to Watch in 2020 https://www.netguru.com/blog/top-12-fintech- companies-in-new-york-to-watch-in-2020 The rapid growth of internet companies during the 1990s came to a rapid halt during the early 2000s recession. During this economic contraction, many internet companies in Silicon Alley folded. A couple of • Five New York Cybersecurity Companies to Watch https://www.technyc.org/posts/five-nyc-cybersecurity- years after the dot-com bust, Silicon Alley began making its comeback with the help of NY Tech Meetup, companies-to-watch-nov-2019 and NextNY. In 2011, then Mayor Bloomberg announced his choice of Cornell University and Technion- Israel Institute of Technology to build a US$2 billion graduate school of applied sciences on Roosevelt Existing Greater Manchester Links Island, with the goal of transforming New York City into the world's premier technology capital.

In 2003, a Google computer scientist, wanted to set up an engineering and research outpost in New York. The company’s leaders didn’t have high hopes, assuming all the best software engineers were in Silicon • Long established relationships with DIT Post NY. Fiona Macleod, Consul General and Regional Director US here Valley. But they told him he could go ahead if he could find “Google-worthy” talent in New York — and he did, hiring 25 people in the first year. Today, New York has Google's second largest office with 7,000 • Ross Allen – DIT Director for US based in NYC people and in December 2019, they announced a major expansion that could double its New York work force to 14,000 over the next decade. Amazon employs 5,000 workers in New York and Facebook employs • Previous civic engagements have taken place with former NYC Mayors and Sir Richard Leese; Sir Howard 1,000 staff which span members of its Instagram, engineering, sales, and HR teams, among media space for Bernstein its live interviews. • Marketing Manchester have strong connections with tourism/culture networks in NY Today, NYC is home to thousands of fledgling companies, and the New York region regularly ranks second to the Bay Area in attracting venture capital, the lifeblood of the start-up economy. The city’s tech sector • Key multipliers (big four) and property consultancies such as CBRE; Colliers., JLL New York, Newman Knight has become a wellspring of jobs paying more than $150,000 on average, a major part of the local Frank based here economy.

• Twice daily flights from Manchester Airport to New York Many of the city’s tech jobs are not in technology companies. Instead, they are tied to industries where the city has long been positioned as a world leader — like finance, advertising and media. There are twice as many technology jobs in non-tech industries in New York as there are in technology companies, according • MAG Connections to Emsi, a labour market research firm.

6321 Collaboration Partners

Organisation Description Sector Organisation Description Sector

NYC Economic Development Corporation Non-profit corporation to promote IPA Tech: NYC Member funded network of tech leaders Tech economic growth who work with city and state government https://edc.nyc https://www.technyc.org/ on policies to drive New York’s innovation economy New York Chamber of Commerce Provides services to over 30,000 General business and civic leaders New York Tech Alliance 15 year old organisation that provides Tech https://www.chamber.nyc/ education and networking opportunities https://www.nytech.org to 62,000 members

British American Business Association Transatlantic trade association General NY Tech Meetup Founded in 2004, this is largest meetup Tech https://www.babinc.org/ group globally run by NY Tech Alliance, https://www.meetup.com/ny-tech/ New York University Specialisms in Sciences, and Health Academia Professions and Related Programs Cyber NYC Cyber programme Cyber https://www.nyu.edu/ https://cyber-nyc.com/ Columbia University Specialisms in business, social Academia sciences, science, law, medicine, and Grand Central Tech Tech Accelerator Tech https://www.columbia.edu/ public affairs. www.grandcentraltech.com Cornell University Ivy League research university in Academia Ithaca with specialisms in Arts and https://www.cornell.edu Sciences and Life Sciences Blueprint health Healthcare-focused accelerator HealthTech

https://www.blueprinthealth.org/ AngelPad Seed-stage accelerator program Tech

https://angelpad.com/ NYC Digital Health Innovation Lab Support growth-stage companies that HealthTech have already developed a market-ready The New York Genome Centre Research institute furthering Life Sciences nyehealth.org/innovation/ny-digital-health- solution genomic research innovation-lab https://www.nygenome.org

Entrepreneurs Roundtable Accelerator One of New York’s largest Tech NY Life Sciences and Biotechnology Centre Life Sciences district Life Sciences accelerators eranyc.com http://www.nylifesciences.com/

6421 Key Headquartered Companies Texas Dallas Houston

Economic Summary

Texas is the second largest state in the United States by area (after Alaska) and population (after California). Houston is the most populous city and the fourth largest in the US while San Antonio is the second-most populous city. Other cities include Dallas–Fort Worth and Austin (state capital) and El Paso.

Historically four major industries shaped the Texas economy prior to WWII - cattle and bison, cotton, timber, and oil. In the later 19th century cotton and lumber grew to be major industries as the cattle industry became less lucrative. It was ultimately, though, the discovery of major petroleum deposits that initiated an economic Dallas boom which became the driving force behind the economy for much of the 20th century. With strong investments in universities, Texas developed a diversified economy and high tech industry in the mid-20th century. With a growing base of industry, the state leads in many industries, including Agriculture, Austin Petrochemicals, Energy, Computers and Electronics, Aerospace, and Biomedical Sciences. If Texas were a sovereign state, it would be the 10th largest economy in the world. As of 2016, Texas was home to six of the top 50 companies on the Fortune 500 list and 51 overall (third most after New York and California). San Antonio Houston

The state capital Austin is now is considered to be a major centre for high tech which has grown partly due to the thousands of graduates each year from the engineering and computer science programs at the University of Texas at Austin. The proliferation of technology companies has led to the region's nickname, "Silicon Hills,". Austin is also emerging as a hub for pharmaceutical and biotechnology companies; the city is home to about 85 of them. The city was ranked by the Milken Institute as the No.12 biotech and life science centre in the U.S whole foods market, an international grocery store chain specialising in fresh and packaged food products, was founded and is headquartered in Austin.

Key Cities Key Industries

Austin High-Tech; ICT Defence; Healthcare; Retail Wholesale; Film TV and Music (SWSX).

Houston Energy (Oil and Gas Exploration; Refining; Petrochemical Production; Medical Research and Healthcare; High-Technology (ICT, aerospace, environmental.); Government.

Dallas Energy – Oil & Gas; Manufacturing; Aviation and Aerospace; Financial Services.

San Antonio Military & Government; Healthcare; Financial Services; Oil and Gas; Within the past twenty years, the city has become a significant location for American-based call centres and has added a sizable manufacturing sector centred around automobiles.

65 Sector Analysis NextGen Companies

Petroleum Refining & Chemical Products - Texas leads the nation in petroleum refining and chemical Company Website MIDAS Team products production, while also being a global leader in the closely related petrochemical industry. Houston is not only considered the energy capital of the nation, but also a globally-central location for virtually every segment of the petroleum industry. Chemical companies supply products that www.ablelending.com FPS are used to make pharmaceuticals, computers, transportation, infrastructure and other everyday items. More than 50% of the total U.S. chemical production is produced and processed by Texas chemical www.alkami.com FPS manufacturers. Key players in these industries can be found all over the state with ExxonMobil having a headquarters in Irving and their ExxonMobil Chemical having a headquarters in Spring. www.armor.com CDT Clean Energy - Since the discovery of oil in 1901, Texas has been a leader the production of energy. The states renewable energy potential is among the largest in the nation, with abundant wind, solar, and www.bigcommerce.com CDT biomass resources found across the state’s geographically diverse regions. In recent years, Texas has built CDT upon its energy experience and trained workforce to take the lead in renewable energy production and https://www.outdoorvoices.com services. As a result, Texas has become the top state in wind generation capacity and biodiesel production. Texas is also the only mainland state with its own power grid. CDT http://sparkcognition.com Advanced Tech & Manufacturing – Texas strengths are in: computer and electronic products; electrical equipment, appliance, and components; motor vehicles, bodies, trailers, and parts; food and beverage products; textile, apparel and leather products; petroleum, chemical and coal products. Texas has many https://www.cavalcademidstream.com/ Industrial large corporations, especially those specialising in advanced technology and manufacturing such as #Texas I Instruments and National Instruments. http://www.lotusmidstream.com/ Industrial

http://mettlemidstream.com/ Aerospace, Aviation & Defence - Texas is home 1,400 companies in the sector as well as two international Industrial airlines, two of the world’s busiest airports, 15 active military bases, and NASA’s the Johnson Space Centre. It is also a key location for many of the largest global aerospace and aviation companies. The broad range http://navitas-midstream.com of aerospace activities in Texas includes fighter planes and helicopter assembly, navigation instrument Industrial development, advanced space-flight research, military pilot training and commercial space travel. Mickledore Geographically, this industry has a substantial presence in many regions of the state. In North Texas, the http://www.citlaenergy.com/ Industrial Dallas-Fort Worth region boasts the state’s largest concentration of aerospace manufacturing workers, as well as the headquarters of American Airlines and Southwest Airlines. San Antonio, sometimes referred to Industrial as “Military City, USA” is home to tens of thousands of Air Force personnel and is a major national hub for http://h2obridge.com/ aircraft maintenance, repair and overhaul. On the Gulf Coast, Houston is home to NASA mission control and dozens of related spaceflight contractor firms. Elsewhere in the state, one of the world’s largest helicopter repair facilities resides in Corpus Christi, while the cities of Amarillo, El Paso, Harlingen, McAllen, http://rigup.com Industrial Waco and Wichita Falls all support manufacturing facilities for various Fortune 500 aerospace companies. http://web.silvercreekog.com/ Industrial Biotechnology & Life Sciences – Texas is home to 4,000 Life Science and Research firms. Top Fortune 500 companies such as Kimberly-Clark and Celanase are based in Texas. Texas is home to the world’s largest medical centre, children’s hospital, and largest cancer hospital, MD Anderson Cancer Centre. http://www.quvapharma.com/ Life Sciences

ICT – This sector has been flourishing in Texas for years and is home to Dell, The universities in Texas and Life Sciences other educational institutions are heavily invested in R&D such as Rice University, University of Texas. www.insightec.com

6621 Ecosystem Spotlight: Silicon Hills Fastest Growing Company News

Silicon Hills is a nickname for the cluster of high-tech companies in the Austin metropolitan area. The name News• Growjo 10000 – Fastest Growing Companies in Texas 2020 refers to the hilly terrain on the west side of Austin. High tech industries in the area include Enterprise https://growjo.com/state/TX Software; Semiconductors; Corporate R&D; Biotechnology; Video Games and a variety of start-up companies. Dell's worldwide headquarters are located in Round Rock, a suburb of Austin. Technology • Growjo – Fastest Growing Companies in Dallas 2020 companies with offices in the area include Advanced Micro Devices; Amazon; Apple; ARM; Cisco; eBay; ESO, Facebook; Google; IBM; Indeed; Intel; PayPal; Procore; Silicon Labs; Texas Instruments; Oracle; VMWare. https://growjo.com/city/Dallas • Inc 5000 – 250 Fastest Growing Companies in Texas Austin is one of the top areas for venture capital. Venture capital investors include Austin Ventures, Central Texas Angels Network, and Tritium Partners. There are at least 15 start-up incubators as well, including: https://www.inc.com/inc5000-series-texas-2020.html Capital Factory, Austin Technology Incubator, DivIn, Founder's Institute, Tarmac and the IC2 Institute (the incubator for the University of Texas at Austin). Additionally, Austin houses several start-up accelerators • Inc 5000 – Fastest Growing Companies in Houston including Sputnik ATX venture-accelerator, Tech Stars, and Mass Challenge TX. https://www.houstonchronicle.com/business/bizfeed/article/See-which-Houston-companies-made-Inc- magazine-s-15134728.php

• March 2020 – Dallas 100 – the Fastest Growing Companies in North Texas https://www.bizjournals.com/dallas/news/2020/03/13/inc-magazine-fastest-growing-private-companies.html

• November 2019 – Top 10 Fastest Growing Tech Companies in Texas https://www.dallasnews.com/business/technology/2019/11/08/texas-top-10-fastest-growing-tech-companies- according-to-deloittes-fast-500-list/

Civic / Multiplier Links

• Good connections with DIT in Houston and Austin

• Greater Manchester have attended SWSX many times which is held in Austin

6721 Collaboration Partners

Organisation Description Sector Organisation Description Sector

Texas Chamber of Commerce Statewide trade association Various The University of Texas at Tyler - The Center for Research institute for cyber security in Industrial / Tech Petroleum Security Research the petroleum industry / Academia www.tcce.org www.uttyler.edu

Office of the Texas Governor Greg Abbott Texas Governor office Public Sector The University of Texas at Austin - Cockrell University college and a global leader in Industrial / School of Engineering technology advancement and Academia https://gov.texas.gov engineering education www.engr.utexas.edu

Texas-European Union Chamber Trade association facilitating Various Texas A&M University - Mary Kay O’Connor Centre for engineering technology safety Industrial / transatlantic trade between Texas Process Safety Center advancement and education Academia www.texaseuchamber.org and the EU www.psc.tamu.edu Official Texas Economic Development The Governor’s office for economic Public Sector Corporation development and tourism Rice University - George R. Brown School of University departments for engineering Academia Engineering and the and biosciences www.businessintexas.com Department of Biochemistry and Cell Biology

Texas Economic Development Council Statewide economic development Various www.engineering.rice.edu agency www.biosciences.rice.edu www.texasedc.org Texas Alliance of Energy Producers Statewide association for energy Industrial Texas Engineering & Extension Service Trade association and training Industrial producers and associated industries service for the engineering and www.texasalliance.org www.teex.org related industries Texas Carbon Capture and Storage Association Industry body dedicated to the Industrial Texas Healthcare & Bioscience Institute Trade association & public policy Life Sciences development of low carbon-related voice for the healthcare and www.txccsa.org policies and clean energy www.thbi.com bioscience sectors

Bio North TX Trade association for the life science Life Sciences Texas Technology Consortium Technology industry community focused Tech sector on bringing together private sector and www.bionorthtx.org www.textc.org academic players and tech advancement

Texas Association of Manufacturers Trade association for manufacturing Industrial British American Business Council Texas Transatlantic trade membership Various sector organisation www.manufacturetexas.org www.babctexas.org

6821 Key Headquartered Companies Massachusetts

#Summary

Massachusetts is the most populous state in the New England region of the north-eastern United States and its capital is Boston. Massachusetts's economy has shifted from manufacturing to services and today it is a global leader in Biotechnology and Healthcare, Engineering, Higher Education, Defence; Engineering; ICT; Finance, and Maritime Trade. Harvard University in Cambridge is the oldest academic institution in the U.S and Kendall Square in Cambridge has been called "the most innovative square mile on the planet", in reference to the high concentration of start-ups and innovation that’s emerged there since 2010. Harvard University and MIT (also in Cambridge) are among the most highly regarded academic institutions globally.

Boston is among the top 30 most economically powerful cities in the world and the metro area has the sixth- Cambridge largest economy in the country and 12th-largest in the world. Boston's colleges and universities exert a significant impact on the regional economy both in terms of the students and research power they bring. Boston Boston is home to many tech companies and is a hub for biotechnology. Boston receives the highest amount of annual funding from the National Institutes of Health of all cities in the USA. The city is considered highly innovative for a variety of reasons, including the presence of academia, access to venture capital, and the presence of many high-tech companies. Boston is a printing and publishing centre plus home to the headquarters of several major athletic and footwear companies. In 2016, twelve Fortune 500 companies were located in Massachusetts. The Route 128 corridor and Boston are a major centre for VC investment. Manufacturing comprises 10% of the states GDP and goods include medical devices, paper goods, specialty chemicals and plastics, telecommunications and electronics equipment, and machined components. Agricultural products include, cranberries, sweet corn and apples.

Key Cities Key Industries

Boston Financial Services (VC; Custodian Services; Asset Management; Mutual Funds and Insurance; Hedge Funds, Retirement Savings and Risk Management) Printing & Publishing; Education; Biotechnology and Health Care; IT; Defence; Manufacturing

Cambridge Higher Education; Life Sciences (Biotechnology & Pharma); Research and Development; Manufacturing; Non-profits & Think Tanks, E-commerce

69 Sector Analysis Boston FinTech

Life Sciences - Greater Boston, primarily Boston and Cambridge is home to almost 1,000 biotechnology No NextGen companies companies, ranging from small start-ups to billion-dollar pharmaceutical companies. The many universities in the area give the region a large network of scientists. The Kendall Square area of Boston holds a large concentration of the life science industry, numbering over 120 companies within a mile and has been described as the centre of the nation’s biotechnology industry. The Longwood area is about two miles from Kendall Square, and is also home to many biomedical research companies. Through biotech R&D that has grown 4% since 2015, Massachusetts-headquartered companies have developed therapies that treat up to 264 million patients in the US and 2bn patients globally. To further highlight Massachusetts’ life sciences growth: industry jobs have grown 28% and over 12m sq. ft (a 71% increase) of commercial lab space has been developed in the last 10 years.

Financial Services - Massachusetts is among the top financial centres in the world and the sector contributes circa 10% to the state’s overall output. Massachusetts is a leader in asset custody and administration services due to the fact the world’s largest custodian bank BNY Mellon being present in the city along with Boston headquartered State Street. Other strengths are global retirement savings and risk management. The sector has a broad range of sub-sectors, from small community banks to large VC’s, Global Asset Managers, Mutual Funds and Insurance Companies. The state has ranked 2nd in the USA in terms of total VC investment capital deployed. Massachusetts is home to 263 private equity firms, the largest behind New York and California and it has 14 of the country's top Hedge Funds.

Printing & Publishing - Many publishers call Boston home. The Little, Brown and Company was founded in there and its owner, Big Six publisher Hachette maintains an office there. Houghton Mifflin Harcout also publishes many of its trade titles from Boston office, including the majority of its children’s titles. Boston is well-known for its academic culture and the book industry follows suit. Harvard University Press and MIT Mickledore Companies Press accompany their respective universities. Bedford, Freeman & Worth Publishing Group, the Higher Education division of Big Six-er Macmillan, has its office on Arlington Street near the Public Garden. In the Company Website Team same building is one of Pearson Higher Education’s two Boston offices. Cengage Learning, another textbook publishing heavyweight, also has a Boston office. www.nxstage.com/ Life Sciences

Cyber - There are approx. 60 companies within an hour’s drive of downtown Boston with local companies like Raytheon, Rapid7, Carbon Black and CyberArk which have raised vast sums from venture capitalists www.insulet.com/ Life Sciences and the public markets in a quest for industry domination. Other well-funded start-ups include Cybereason, Recorded Future, and Threat Stack, Cybric, Lexumo, Seceon are just getting started. Key www.perkinelmer.com Life Sciences strengths are safeguarding data across servers, the cloud, and personal devices; vulnerability assessments, remote access and password management software, online backup and disaster recovery, and other infrastructure tools. www.rsa.com CDT

Education - Some of the most renowned and highly ranked universities in the world are in the Greater Boston area. Harvard, MIT, and Tufts, are just outside of Boston in the cities of Cambridge and Somerville, www.tamr.com FPS known as the Brainpower Triangle. MIT originated in Boston and was long known as "Boston Tech", Tufts University's main campus is north of the city in Somerville and Medford. www.eclinicalworks.com/ Life Sciences

7021 Ecosystem Spotlight: The Life Sciences Corridor Fastest Growing Company News

The Life Sciences Corridor is home to over 750 companies within the Life Science Industry Cluster. The Life News• May 2019 Boston Business Journal – Fastest-Growing Private Companies in Massachusetts Sciences Corridor boasts occupancy of the largest biopharmaceutical companies in the world: Biogen, https://www.bizjournals.com/boston/subscriber-only/2019/05/15/fastest-growing-private-companies-in.html Sanofi-Aventis, Novartis, Pfizer, Johnson & Johnson’s Innovation Centre, Merck & Co, Vertex Pharmaceuticals, Glaxo Smith Klein, Boston Scientific, Haemonetics among others. The Longwood Medical • Inc 5000 – 10 Hottest Companies in Boston in 2019 Area (LMA) hosts world-famous medical campuses such as: Brigham & Women’s Hospital, Children’s https://www.inc.com/natasha-ramirez/fastest-growing-companies-boston-2019-inc5000.html Hospital, Dana-Farber Cancer Institute, Harvard Medical School, Harvard School of Public Health, Harvard School of Dental Medicine, Merck, and other healthcare, research, and educational institutions. The LMA has 45,000 scientists, researchers and staff and 21,000 students. • American Inno – Top Massachusetts Companies on the Inc 5000 List 2018 https://www.americaninno.com/boston/boston-startup/the-top-massachusetts-companies-on-the-inc-5000- list/

• Patch August 2019 – the fastest growing companies in Massachusetts https://patch.com/massachusetts/boston/here-are-fastest-growing-companies-ma

• Growjo 10000 – 100 fastest growing companies in Boston 2020 https://growjo.com/city/Boston

• Massachusetts is the #1 Life Sciences Cluster in the World https://www.massbio.org/news/blog/massachusetts-is-the-1-life-sciences-cluster-in-the-world-now-let-s-keep- it-that-way-148241

Existing Greater Manchester Links

• Good relationship with DIT

• Mayor Andy Burnham met with Boston Mayor Marty Walsh in 2019

• MIDAS have undertaken many visits to Boston, especially those focussed on Life Sciences.

7121 Collaboration Partners

Organisation Description Sector Organisation Description Sector

Massachusetts Chamber of Commerce Provides advocacy, marketing, Public sector Massachusetts Export Center MEC helps companies achieve success in Public sector networking and educational global markets www.massachusettschamberofcommerce.c programmes for businesses www.msbdc.org om Massachusetts Bankers Association Trade association representing over 200 Financial Directory of regional chambers: banks and financial institutions https://massachusettschamberofcommerce. www.massbankers.org com/ma-chamber-of-commerce-directory- listings/ Massachusetts Technology Collaborative Trade body/network for technology CDT industry Greater Boston Chamber of Commerce Chamber for Greater Boston area Public sector www.masstech.org

www.bostonchamber.com Associated Industries of Massachusetts Multi-sector trade body/networking Various organisation for Cambridge Chamber of Commerce Chamber for Cambridge area Public sector www.aimnet.org

www.cambridgechamber.org Manufacturing in Massachusetts Trade association for advanced Industrial manufacturing industries New England Business Association Key trade association for the wider Public sector www.mamanufacturing.com New England north-eastern US www.newenglandbusiness.org region Building Trades Employers Association Trade association for construction Industrial industry British-American Business Council of New International business association – Public sector www.btea.com England membership of over 100 companies involved in transatlantic trade Massachusetts Life Sciences Trade association and development Life Sciences www.babcne.org organisation for life science industries www.masslifesciences.com Commonwealth of Massachusetts Useful state-level resource Public sector Massachusetts Biotechnology Council Industry organisation support the Life Sciences www.mass.gov development of Massachusetts's life www.massbio.org sciences British Consulate-General, Boston Based in Cambridge Public sector Massachusetts Development & Finance Agency Massachusetts’ economic development Public www.gov.uk/government/world/organisatio agency sector/Financial ns/british-consulate-general-boston www.massdevelopment.com

Massachusetts Office of Travel & Tourism Massachusetts tourism agency Public sector Harvard University Study abroad and exchange programme Academia www.worldwide.Harvard.edu/university- links with the University of Manchester www.massvacation.com manchester

7221 Key Headquartered Companies Illinois

Summary

Illinois is in the Midwestern and Great Lakes regions of the United States and has the fifth economy and the sixth largest population of the country. Illinois has been noted as a microcosm of the U.S with Chicago in north-eastern Illinois, small industrial cities and immense agricultural productivity in the north and centre of the state, and natural resources such as coal, timber, and petroleum in the south, Illinois has a diverse economic base, and is a major transportation hub. The Port of Chicago connects the state to international ports and for decades Chicago's O'Hare International Airport has been ranked as one of the world's busiest Chicago airports.

The state capital is Springfield and Chicago is a major centre for economic activity and recognised as a global alpha city. The Illinois economy is one of the most diversified economies in the world and Chicago is home to many of the United States' largest companies, including AbbVi, Allstate, Baxter International, Boeing, Caterpillar, Conagra, Crate and Barrel, Kraft Heinz, McDonald's, Mondelez International, United Airlines, U.S Foods and Walgreens. Chicago is a global financial centre and headquarters a wide variety of financial institutions including Citadel LLC, CNA Financial, Discover Financial Services, Nuveen, and home to the largest Springfield futures exchange in the world, the Chicago Mercantile Exchange. Across the state, other Fortune 500 world headquarters based in Illinois includes State Farm in Bloomington along with John Deere in Moline. As of 2017, Illinois ranked fourth in the nation for the most Fortune 500 based companies with a total of 36. For six consecutive years, Chicagoland was ranked the nation's top metropolitan area for corporate relocations. The state's industrial outputs include machinery, food processing, electrical equipment, chemical products, publishing, fabricated metal products and transportation equipment. Corn and soybeans are important agricultural products. Service industries of note are financial trading, higher education, logistics, and medicine.

Key Cities Key Industries

Chicago Financial Services & Insurance; ICT; FinTech; Manufacturing; Printing & Publishing (2nd to New York); Food Processing (USA "candy capital") Transportation & Distribution centre. Key goods produced: telephone equipment, musical instruments, surgical appliances, machinery, earthmoving and agricultural equipment, steel, metal products, diesel engines, printing presses, office machines, radios and television sets, auto accessories, chemicals, soap, paint, food products and confections.

Springfield Education; Life Sciences (Biotechnology & Pharma).

73 Sector Analysis NextGen Companies

Auto Manufacturing - Chicago has the third largest employment base for auto manufacturing in the U.S Company Website MIDAS Team and leads the country in iron forging and stamping. It specialises in motor vehicle parts manufacturing. www.aptinyx.com Life Sciences - Biopharmaceutical companies in Chicago received $65 million in venture capital in 2016. The Life Sciences state has two of the world’s top universities for life sciences – University of Chicago and Northwestern University. Advanced biotechnology research is growing in Chicago - Argonne National Laboratory has an http://www.braviantholdings.com/ advanced photon source (APS), which allows researchers to build three-dimensional views of proteins. This FPS was instrumental in helping AbbVie develop the HIV drug Kaletra. In 2016, the University of Chicago entered into a five-year collaboration agreement with AbbVie to advance medical research in oncology. http://www.crescolabs.com Industrial Medical Technology – There are 890 MedTech companies in Chicago and Advanced Medical Manufacturing is growing. Northern Illinois, which hosts Argonne National Laboratory and Fermilab, has http://www.fourkites.com/ CDT the highest concentration of accelerator experts in the world. This accelerator research supports many medical device innovations, such as the superconducting wire used in MRI magnets http://www.instana.com CDT Chemicals & Plastics - Chicago has companies such as Abbot, Abbvie, Baxter, Ecolab and Hospira.

http://www.project44.com/ Business Services - Chicago is home to more than 400 major corporate headquarters, including 34 in the FPS Fortune 500. There are more than 60,000 business services companies in the region. Many global FPS companies are headquartered in Chicago (Mayer Brown and Aon). In recent years there has been key growth in areas such as Consulting Services and Computer Systems Design. www.raise.com FPS Energy - Illinois has 3,653 energy companies and renewable energy production is surging. There are 23 wind companies located in Chicago, including 14 headquarters, more than any other U.S city. Illinois is the 3rd largest ethanol producer and the U.S Department of Energy is a major investor in biofuel research. http://www.shipbob.com/ Mickledore CDT Fabricated Metals Manufacturing – this is the largest manufacturing subsector in the Chicago region. www.tempus.com Chicago leads the nation in Fabricated Metals output and thousands of Fabricated Metals companies are in Life Sciences the region. www.uptake.com CDT FinTech – Chicago’s role as a global financial and trading centre which has made it a centre for new FinTech technologies. There are 7,629 FinTech companies in Chicago. Two of the most renowned business http://www.villagemd.com/ schools in the country – The Booth School of Business at the University of Chicago and the Kellogg School Life Sciences of Management at Northwestern University – are fostering fintech growth in Chicago through various academic and professional programs. ChicagoNext is a body to promote Chicago’s tech community, is also http://www.allstate.com/ dedicated to grow Chicago’s fintech community and has established a Fintech Council. FPS www.wellnessiq.net/ Food Manufacturing- Chicago is known for its rich history in food manufacturing, from its meatpacking Life Sciences industry in the 19th century to its ongoing role as a hub for America’s “breadbasket.” These days, Chicago touts the strength of not only its heritage brands, such as Wrigley, Kraft Heinz, and Tootsie Roll Industries, www.pdl.com but its smaller, regional manufacturers as well. Life Sciences

7421 Ecosystem Spotlight: FinTank – Chicago FinTech Hub Fastest Growing Company News

FinTank is Chicago's first fintech incubator - Bringing together participants in the FinTech ecosystem to • June 2019 – Crain’s Chicago Fast 50 foster collaboration & development of financial technologies. Chicago was recently ranked among the https://www.chicagobusiness.com/news/fast-50-2019 top five global FinTech hubs by Deloitte and the Global FinTech Hubs Federation, thanks in part to native institutions like FinTex’s strong advocacy. • Chicago Inno – 12 Chicago companies make Deloitte’s list of fastest-growing tech companies https://www.americaninno.com/chicago/inno-news-chicago/12-chicago-businesses-make-deloittes-list-of- Big investors such as Jump Capital, Pritzker Group Venture Capital, MATH Venture Partners, Chicago fastest-growing-tech-companies/ Ventures and CME Ventures have pumped money and resources into this ecosystem. The success of Braintree, Avant, Envestnet, Morningstar, Discover, Allstate and many more are evident of the regions strengths. • August 2019 – Fastest growing companies in Chicago and Illinois https://patch.com/illinois/across-il/here-are-fastest-growing-companies-chicago-illinois FinTank helps to facilitate networking via a wide range of events and programs. They also hold monthly seminars, workshops, and conferences and cover all FinTech sectors including Artificial Intelligence, Big • Built In Chicago – 50 Start-ups to Watch in 2020 Data & Analytics, Blockchain, Cryptocurrency, Cybersecurity, InsurTech, InvesTech, IoT, Payments, https://www.builtinchicago.org/2020/01/21/50-chicago-startups-watch-2020 RegTech, Trading, and Virtual/Augmented Reality. FinTank run a year long accelerator programme and also facilitate innovation in companies and connect the Fortune 500 and other enterprise-level • Inc 5000 – The 250 most successful/fastest growing companies in the Midwest companies to start-ups emerging from the FinTech ecosystem and allow them to test their https://www.inc.com/inc5000-series-midwest-2020.html technologies in our sandbox. • Growjo 10000 – Fastest growing companies in Illinois https://growjo.com/state/IL/3

Existing Greater Manchester Links

• MIDAS have good connections with DIT Chicago

7521 Collaboration Partners

Organisation Description Sector Organisation Description Sector

The International Trade Association of Internationally-focused multi-sector Various Illinois Technology Executive Exchange Executive membership organisation focusing on CDT Greater Chicago trade association www.illinoistech.org IT sector https://www.itagc.org/ Illinois Telecommunications Association Trade association CDT Illinois Chamber of Commerce Supports the interests of businesses of Various https://www.il-ita.com/ www.ilchamber.org all sizes across Illinois

British Consulate General Chicago Maintains and develops relations Public sector Illinois Venture Capital Association Fosters the development and growth of private General www.gov.uk/world/organisations/british between the UK and USA https://www.illinoisvc.org/ sector enterprise in the state -consulate-general-chicago Head of Trade & Investment: Rob Illinois Renewable Energy Association Trade association supporting sustainable energy Industrial/ McNeill https://www.illinoisrenew.org/ development Clean Tech https://www.linkedin.com/in/robmcneill/ Illinois Biotechnology Innovation Illinois life sciences industry trade association Life sciences The Chicago International Trade Facilitates the expansion of international Public sector Organisation (iBIO) Commissioner’s Association trade and investment between the world www.ibio.org www.citca.org and the Midwest University of Chicago – Biological Biological/life sciences department & network for Life sciences Illinois Manufacturers’ Association Trade association for manufacturers Industrial Sciences Division research and industry collaborations and www.ima-net.org www.biologicalsciences.uchicago.edu connections

Tooling & Manufacturing Association Machine work training service Industrial Illinois Economic Development Statewide organisation to enhance Illinois’ global Public sector www.tmaillinois.org Association competitiveness www.ileda.org The American Supply Association A Chicago-based forum of trading Industrial www.asa.net partners across the US to discuss ComEd Organisation that partners with state and Public sector industry issues www.comed.com regional development stakeholders to grow Illinois’ diverse business base Council of Supply Chain Management Long-established trade association Industrial Professionals focusing on supply chain management Ameren Illinois Organisation to support company growth, Industrial www.cscmp.org www.Ameren.com particularly in renewable energy sector World Business Chicago Driving economic growth in Chicago, Various www.worldbusinesschicago.com North America’s global business centre FinTank Chicago’s global Fintech hub CDT www.fintank.org ChicagoNext Works to promote Chicago’s tech & CDT / FPS www.worldbusinesschicago.com/chicag fintech communities – set up Fintech FinTEx (Financial Technology Exchange) Non-profit member organisation that supports CDT / FPS onext Council to support start-ups www.fintex.org the Chicago and Midwest fintech community

7621 Key Headquartered Companies Minnesota

Economic Summary

Minnesota in the Upper Midwest of the United States. The Minneapolis–Saint Paul metropolitan area (known as the "Twin Cities") has the largest concentration of transportation, business, industry, education, and government in the state.

Once primarily a producer of raw materials, Minnesota's economy has transformed to finished products and services. Perhaps the most significant characteristic of the economy is its diversity and 33 of the United States' top 1,000 publicly traded companies by revenue are headquartered in Minnesota such as UnitedHealth Group, 3M, General Mills, Ameriprise, Hormel, Land O' Lakes, SuperValu, Best Buy, and Valspar. Private companies include Cargill, the largest privately owned company in the United States and Carlson Companies, the parent company of Radisson Hotels.

The economy of Minneapolis is based in finance, rail and trucking services, medical devices and health care. The manufacturing sector includes technology and biomedical firms, in addition to the older food processors and heavy industry. St. Jude Medical represents a growing biomedical industry spawned by university St Paul research, and Rochester is the headquarters of the world-famous Mayo Clinic.

More than any other Midwestern state, Minnesota attracted entrepreneurs and engineers, especially in the Minneapolis computer industry, and became a leading centre of computer manufacturing. It was the epicentre of top- secret digital computing for decades. Medical device maker Medtronic also was founded in the Twin Cities.

Key Cities Key Industries

Minneapolis Manufacturing - Medical Devices (part of Medical Alley); Food Processing; Healthcare; Financial Services.

Saint Paul Manufacturing – Medical Devices; Chemicals.

77 Sector Analysis Minnesota MedTech Ranking USA (Medical Device Magazine 2019)

Medical Devices - Minnesota has an area known as “Medical Alley” and is home to Medtronic- the world’s largest medical device company, Mayo Clinic (the nation’s top health provider) United Health Care Group (the largest health insurers in the U.S) and 3M, one world’s largest advanced manufacturing and medical device companies. St. Jude Medical is also there which Abbott acquired for $25 billion in 2018. Beyond the several well-known medical device companies with large presences in Minnesota — Medtronic, Abbott, and Smiths Medical — Minnesota boasts a vast ecosystem of contract manufacturers, device testing outfits, designers, and regulatory and product development consultants to support the industry. Key support bodies are University of Minnesota Medical Devices Centre, and the Medical Alley Association.

Manufacturing - Manufacturing contributes $52.7 billion a year to the state’s economy and employs 322,000 workers. Minnesota has strength in a broad range of industries that include: Food production; Computer and electronics; Fabricated metal; Machinery; Medical devices. Headquartered in Minnesota are 17 Fortune 500 companies as well as Cargill, the nation’s largest privately held company. Close to half of Minnesota’s Fortune 500 companies are involved in manufacturing, including 3M, CHS, General Mills, Land O’Lakes, Ecolab, Mosaic, Hormel Foods and Polaris.

Technology - Minnesota has a rich history of computer industry development, with early industry leaders based there. Today, ICT companies operate statewide across all industries and Minnesota is a growing hub for data centres, FinTech and the Internet of Things.

CleanTech - A combination of resources, expertise and supportive public policy makes Minnesota a top location for clean technologies and renewable energy industries. The state is home to more than 10,000 lakes. It is also home to many of the world’s largest water and wastewater technology companies and is recognised as a leading producer of biofuels. The state has also seen triple-digit growth in solar jobs in recent years. Mickledore Food - Minnesota leads the U.S in food patents per capita – and has long been on the forefront of research and innovation in agriculture, food production and food safety.

Banking, Finance and Insurance – There are 5,260 banks and financial services establishments and over 4,350 insurance establishments in Minnesota. Among the largest banks headquartered or operating in Minnesota are: U.S. Bancorp, Wells Fargo Bank Minnesota, TCF Financial, Bremer Financial Corp and BMO Harris Bank.

Logistics and Distribution - Minnesota employs 105,670 people in transportation and warehousing industries. Minnesota based C.H. Robinson started as a small wholesale brokerage house in the early 1900s and is now a Fortune 500 worldwide provider of multimodal transportation services, third-party logistics and supply chain optimisation. Another Minnesota company, Digi-Key Electronics has grown from a small distributor of ham radio parts into one of the biggest distributors of electronic components in the world. The company has an annual revenue of $3 billion and 4,000 employees. On average, Digi-Key ships nearly 15,000 orders per day.

7821 Ecosystem Spotlight: Medical Alley Fast Growing Companies News

Medical Alley is one of the worlds leading centres for Health Innovation and contains many of leading health technology companies, key research hospitals and the globally recognised Destination Medical Centre. • Growjo – 100 fastest growing companies in Minneapolis in 2020: Medical Alley is also home to the USA’s largest private health insurer and more than 1,000 healthcare https://growjo.com/city/Minneapolis companies. • August 2019 Inc 5000 – 81 Minnesota companies listed: Medical Alley describes itself as the birthplace of implantable medical technology, collaborative care delivery https://www.americaninno.com/minne/inno-news-minne/all-the-minnesota-businesses-on-the-2019-inc-5000- and innovative health plan models. The Smithsonian recognised six "Great Places of Invention” in the US, list-of-fastest-growing-companies/ including only one for healthcare, Medical Alley. Several factors led to the establishment in Minnesota as a thriving centre of advanced medical devices. These include a good business-technology infrastructure that • October 2019: The Minneapolis/St. Paul Business Journal list of 2019 Fast 50 companies: included the University of Minnesota, the migration of high-tech professionals from other industries, the https://www.bizjournals.com/twincities/news/2019/10/11/meet-the-50-fastest-growing-private-companies- emergence of specialised services and suppliers, the availability of capital, government encouragement, and in.html support from trade associations. The key role of Medtronic, particularly its invention of the first wearable pacemaker and major spin-off's contributed to the growth of the cluster here.

Existing Greater Manchester Links

• MIDAS – Catherine Davidson contacts at medical alley?

• Health Innovation Manchester links?

7921 Collaboration Partners

Organisation Description Sector Organisation Description Sector

Minnesota Chamber of Commerce Statewide trade association and Various Central Minnesota Manufacturers Association Trade association with the purpose of Industrial business community contributing to the growth and success www.mnchamber.com www.cmmaworks.org of manufacturers

Minnesota Department of Employment and Statewide economic development Public sector Tri-State Manufacturers Association Trade association serving the Industrial Economic Development agency. Supports the economic manufacturing industry in Minnesota, success of individuals, business and www.tsma.org North Dakota and South Dakota www.mn.gov communities by improving opportunities for growth. Minnesota High Tech Association Technology industry trade association Tech

Economic Development Association of Regional economic development Public sector www.mntech.org Minnesota agency Minnesota Electronic Security and Technology Trade association supporting the Tech www.edam.org Association technology and related industries www.mnesta.org Explore Minnesota Official state tourism agency Tourism Minnesota Solar Energy Industry Association Trade association for solar and Industrial / www.exploreminnesota.com renewable energy industries Clean Tech www.mnseia.org Midwest Global Trade Association Trade association support business Various professionals across Minnesota Minnesota Grocers Association Trade association for the food industry Food www.mgta.org across Minnesota www.mngrocers.com Medical Alley Minnesota-based global health Medical innovation organisation and network Minnesota Association for Financial Trade association for financial sector Financial www.medicalalley.org Professionals Minnesota Medical Association Minnesota’s primary medical industry Medical www.mnafp.org association www.mnmed.org National Association of Insurance and Financial Trade association dedicated to the Financial / Advisors Minnesota insurance and financial sectors Insurance Minnesota Medical Group Management Regional medical association Medical Association dedicated to supporting medical www.naifa-mn.org www.mmgma.org professionals Global Minnesota Trade organisation facilitating Various Minnesota Precision Manufacturing Trade association for the Industrial Minnesota’s global trading relationships Association manufacturing industry www.globalminnesota.org and regional transatlantic trade www.mpma.com

8021 Key Headquartered Companies Florida

Summary

Florida is the southernmost contiguous state in the United States. Jacksonville is the largest city and other major cities include Miami and Tallahassee, the state's capital. Florida's $1.0 trillion economy is the fourth largest in the United States. If it were a country, Florida would be the 16th largest economy in the world. The Miami Metropolitan Area is by far the largest urban economy in Florida and the 12th largest in the United Jacksonville States with a GDP of $345 billion as of 2017. This is more than twice the number of the next metro area, the Tallahassee Tampa Bay Area. The state's economy relies mainly on tourism, agriculture, and transportation, which developed in the late 19th century. Florida is also renowned for amusement parks, orange crops, winter vegetables and the Kennedy Space Centre.

Key industries include: Tourism; Construction; International Banking; Biomedical, Life Sciences and Healthcare research; Aerospace and Defence (simulation training; Commercial Space Travel. In output, the five largest sectors are: Finance; Insurance; Real Estate; Rental and Leasing, followed by Professional and Business Services; Government; Educational Services; Health Care and Retail Trade. In 2017, Florida became the United States' eighth largest exporter of trade goods. Miami is the cultural, economic and financial centre of South Florida and a major leader in finance, commerce, culture, media, entertainment, the arts, and international trade Greater Downtown Miami has one of the largest concentrations of international banks in the US and is home to many large national and international companies. The Health District is a major centre for hospitals, clinics, and the biotechnology and medical research industries. Port Miami is the busiest cruise port in the world in both passenger traffic and cruise lines, and refers to itself as the "Cruise Capital of the World". Miami Miami is also a major tourism hub for international visitors, ranking second in the country after New York City. Jacksonville is home to the headquarters of four Fortune 500 companies

Key Cities Key Industries

Miami Real Estate; International Banking; TV & Music; Logistics and International Trade (Port) Stone Quarrying and Warehousing.

Tallahassee Healthcare, Hospitality, Information Technology, Manufacturing, Professional Services, Jacksonville and Trade-Transportation & Logistics Distribution; Financial Services; Biomedical Technology; Consumer Goods, ICT; Orlando: Manufacturing; Insurance; Industrial & High-Tech; Digital Media; AgriTech; Aviation; Aerospace; Software Design

81 Sector Analysis NextGen Companies

Aerospace & Aviation – There are 560 aerospace companies and 1,700 aviation companies. From the first Company Website MIDAS Team commercial airline flight in 1914 to today’s mission to Mars, Florida’s has strengths in aeronautical engineering, UAV technology and flight robotics.

AgriTech – This industry builds upon the heritage of Florida’s rural past and particular strengths exist within Sensors; Biological research and Environmental science. www.advanceddisposal.com Industrial

FinTech - Florida is home to the third-largest cluster of insurance and banking companies in the U.S that supports a growing FinTech sector. http://ancientnutrition.com/ Industrial Life Sciences and Medical Devices – Strengths include: germ-fighting antibiotics to virtual reality therapies for mental and physical health.

Microelectronics, Nanotechnology & Sensors – Strengths in Microelectronics, Nanotechnology, IoT and www.carecloud.com Life Sciences Advanced Manufacturing. The Corridor is home to leading research institutes and organisations like BRIDG.

Modelling, Simulation & Training - Recognised nationally as a centre of excellence, this industry is a hub where government, academia and industry converge to enhance national security, improve healthcare, https://herok12.com CDT provide entertainment and more. Home to the National Centre for Simulation and Training and host to the annual Interservice/Industry Training, Simulation and Education Conference – the world’s largest conference for MS&T stakeholders of this field. http://www.vxchnge.com/ CDT Optics & Photonics – this industry has strengths in Research and Education in the Science of Light. Understanding the science of light has influenced the development of revolutionary technologies, including the backbone of the Internet devices and defence technology. Stemming from military efforts , liquid crystal displays in electronic and supported by university research, the optics and photonics industry boasts the Mickledore Companies University of Central Florida’s Centre for Research and Education in Optics and Lasers, a world-renowned university program for research and education, as well as the Florida Photonics Cluster, an organisation Company Website MIDAS Team focused on growth and profitability of photonics companies in Florida.

Renewable Energy - The Corridor’s high tech industry is developing sustainable solutions bringing together http://integer.net/ Life Sciences industry leaders with small companies, research institutions, and public-private partnerships to produce cleaner energy and reduce waste. www.bd.com Life Sciences Digital Media & Interactive Entertainment – Florida have developed key innovations at the intersection of http://www.wafergen.com/ art and science to bring fantasy lands and characters to life in film, television, video games and more. Life Sciences Florida is anchored by the largest game development studio on the nation’s east coast. www.gilead.com Life Sciences www.tolmar.com Life Sciences

8221 Ecosystem Spotlight – Central Florida Research Park Fastest Growing Company News

Orlando has the 7th-largest research park in the country, Central Florida Research Park, with over 1,025 acres. News It is home to over 120 companies, employs more than 8,500 people, and is the hub of the nation's military • https://floridahightech.com/key-sectors/ simulation and training programs. The Central Florida Research Park is a campus-like environment for business, located adjacent to the University of Central Florida. Businesses that desire a university relationship • https://floridahightech.com/key-sectors/aerospace-aviation/ can purchase land in the Research Park on which to construct a facility or can lease space for office, office/lab or light manufacturing uses. Near the end of each year, the Orange County Convention Centre hosts the • https://floridahightech.com/key-sectors/fintech/ world's largest modelling and simulation conference: Interservice/Industry Training, Simulation and Education Conference. Metro Orlando is home to the simulation procurement commands for the U.S, Army, Navy, Air Force, Marines and Coast Guard. • https://www.enterpriseflorida.com/data-center/florida-industries

Existing Greater Manchester Links

8321 Collaboration Partners

Organisation Description Sector Organisation Description Sector

Florida Technology Council Trade association for science and Tech Visit Florida Florida’s tourism agency Public sector technology companies http://fltechcouncil.org/ https://www.visitflorida.com/en-us.html

Enterprise Florida Inc A public-private partnership devoted Public sector Florida Regional Councils Association The statewide organisation of the 10 Public sector to state-wide economic regional planning councils (GMCA https://www.enterpriseflorida.com/ development http://www.flregionalcouncils.org/ equivalent) Space Florida Florida’s aerospace economic Advanced Florida Economic Development Council A state-wide network of public and Public sector development organisation manufacturing private economic development https://www.spaceflorida.gov/ https://fedconline.org/ stakeholders Florida Makes Manufacturing sector trade body Advanced Florida High Tech Corridor Tech-focused regional economic Tech manufacturing development university collaboration https://www.floridamakes.com/index.stml https://floridahightech.com/ Florida’s Regional Manufacturing Associations List of manufacturing sector trade Advanced Florida Chamber of Commerce Trade association Public sector associations, across multiple districts manufacturing https://www.floridamakes.com/who-we- https://www.flchamber.com/ are/regional-manufacturers-associations.stml

Alliance Manchester Business School – UoM campus opened in 2010, Academia Miami Campus contact details available via Florida’s Business Accelerators (list) List of business accelerators across Various https://www.facebook.com/MBS.Miami/ Facebook page multiple sectors https://www.floridatrend.com/article/17616/florid Florida Industry Trade Associations List of trade associations across Various as-business-incubators--2015 multiple sectors https://www.floridatrend.com/article/7555/t Enterprise Florida – Primary Partners (list) List of trade associations and economic Various rade-associations-for-florida-business development organisations across all https://www.enterpriseflorida.com/wp- Florida districts Executive Office of the Governor Office of 46th Governor of Florida, Public sector content/uploads/efi-primary-partner-list.pdf Ron DeSantis https://www.flgov.com/ British Consulate Miami Address and contact details provided Public sector

Department of Economic Opportunity Supports the state’s economic Public sector https://www.gov.uk/world/organisations/british- development vision through practical consulate-general-miami/office/british- http://www.floridajobs.org/ initiatives and programmes consulate-general-miami

8421 Key Headquartered Companies Georgia

Summary

Georgia is in the south-eastern region of the United States. Atlanta, is both the state's capital and largest city. If Georgia were a stand-alone country, it would be the 28th largest economy in the world. There are 17 Fortune 500 companies and 26 Fortune 1000 companies with headquarters in Georgia, including Home Depot, UPS, Coca-Cola, TSYS and Delta Air Lines, Aflac, Southern Company and SunTrust Banks.

Hartsfield-Jackson Atlanta International Airport, the world's busiest airport. Also, the Port of Savannah is the Atlanta fourth largest seaport and fastest-growing container seaport in North America. Atlanta has a large effect on the state of Georgia and is a global city and rated as a "beta+" world city that exerts a moderate impact on global commerce. It ranks in the top twenty among world cities and 10th in the nation with a gross domestic product (GDP) of $385 billion. Atlanta's economy is diverse, with dominant sectors that include aerospace, Columbus Augusta transportation, logistics, professional and business services, media operations, medical services, and information technology.

While many textile jobs moved overseas, there is still a textile industry located around the cities of Rome, Columbus, Augusta, Macon. Industrial products include textiles and apparel, transportation equipment, food processing, paper products, chemicals and electric equipment. In terms of agriculture, widespread farms Savannah produce peanuts, corn, and soybeans across middle and south Georgia. The state is the #1 producer of pecans in the world, with southwest Georgia being the centre of pecan production. Gainesville in northeast Georgia touts itself as the Poultry Capital of the World. Georgia is in the top five blueberry producers in the US. The Georgia Film, Music and Digital Entertainment Office promotes filming in the state. Atlanta now is even called the "Hollywood of the South." filming TV shows like Stranger Things & The Walking Dead.

Key Cities Key Industries

Atlanta Financial Services – Payments Processing; Insurance; Technology; Medical Services; Manufacturing; Real Estate; Services; Logistics; Transportation; Film and Communications; Convention and Trade shows.

Augusta Advanced Manufacturing; Aerospace; Chemical Manufacturing; Cyber Security; Data Centre; Logistics Columbus Aerospace; Technology; Automotive; Biosciences; Manufacturing; Defence Savannah Manufacturing; Port/Transportation; Tourism; Military; Health.

M 85 Sector Analysis NextGen Companies

FinTech/Payments - Georgia is the epicentre of a growing segment of the FinTech payments. This sector Company Website MIDAS Team encompasses the product and service companies that support the technology needs of the financial services industry and, ultimately, the payment-processing infrastructure of the economy. Georgia FinTech www.cardlytics.com FPS companies generate annual revenue of $72 billion, placing the state third in the nation, behind only New York and California. Together, the banking, insurance, and capital markets consistently spend more on http://www.dcblox.com CDT technology than any other industry grouping. The region is known as “Transaction Alley,” companies in the state process two-thirds of U.S payments volume alone. Georgia companies in Georgia, like Columbus headquartered TSYS are leading innovation in the sector. One area where TSYS is making significant https://www.gatherhere.com/ CDT process is in fraud prevention. Data analytics is another important advantage for established fintech companies like those based in Georgia. This is because much of the new innovations – such as machine learning – are more effective when there is a large pool of data to analyse. http://lendingpoint.com/ Industrial www.pindrop.com CDT Film & TV - The Georgia Film, Music and Digital Entertainment Office promotes filming in the state and since the early 70’s seven hundred film and television projects have been filmed on location in Georgia. www.rubiconglobal.com CDT Georgia overtook California in 2016 as the state location with the most feature films produced. Atlanta now is even called the "Hollywood of the South." Television shows like Stranger Things, The Walking Dead, and The Vampire Diaries are filmed in the state. Movies too, such as Forrest Gump, Contagion, Baby Driver, The www.Harsco.com Industrial Hunger Games: Catching Fire, Captain America: Civil War, Black Panther, were filmed around Georgia. www.leaelliott.com Industrial Biosciences - From research to clinical trials to distribution, Georgia has an established and growing biosciences sector. The state is home to over 400 Biosciences companies that employ nearly 20,000. It is also one of the fastest growing U.S states in terms of bio-related employment. The state is home to the US http://dcpi.disney.com/ CDT Centre for Disease Control & Prevention and the beneficiary of significant federal and private grants. There are 44 world renowned bio-related scholars in its academic institutions and the state attracts billions in research funding. www.Celldex.com Life Sciences

Tech - The region is home to 15,000 tech companies and major tech players such as Aflac, Blue Cross Blue Mickledore Companies Shield of Georgia, CB&T, Synovus and TSYS which have strengths in financial and digital health. Company Website MIDAS Team Manufacturing and Automotive - there is a strong textile industry located around the cities of Rome, Columbus, Augusta, Macon and along the corridor between Atlanta and Chattanooga, Tennessee. Other industrial products include textiles and apparel, transportation equipment, food processing, paper products, chemicals and products, and electric equipment. The south-eastern region of the United States has become a key centre for the automotive industry and their suppliers, growing from 25% of industry www.equifax.com/ FPS activity to 33% today. Georgia is at the centre of this and part of an area known as automotive alley. The Columbus region has become a key centre for the industry in the last 10 years since Kia built its first U.S Manufacturing facility in west point in 2008. Today the region is home to several tier 1 and tier 2 automotive suppliers www.halyardhealth.com/ Life Sciences

Agriculture – there are widespread farms which produce peanuts, corn, and soybeans across middle and south Georgia. The state is the number one producer of pecans in the world. Gainesville in northeast www.kabbage.com/ FPS Georgia touts itself as the Poultry Capital of the World and the state I top U.S blueberry producer.

.

8621 Ecosystem: Transaction Alley Fastest Growing Company News

Georgia began to attract financial technology companies in 1987, when state lawmakers lifted caps on credit News card interest rates and annual fees. Also, in the late 80s, early 90s, when fibre was being laid out in the • May 2019: ACG Atlanta names 40 fastest-growing companies in Georgia country, Atlanta was one of the early infrastructure systems for fibre. Nearly 70% of all payment card https://www.bizjournals.com/atlanta/news/2019/05/14/acg-atlanta-names-40-fastest-growing-companies- transactions are processed in Georgia and more than half of U.S. financial technology firms are based in the in.html Atlanta metro area. This has led to it being named Transaction Alley. There are approximately 100 financial technology firms here, employing 300,000 people. Several big names in the field already call Atlanta home, • Nov 2019: Georgia fastest growing companies https://www.americaninno.com/atlanta/tech-news/atlanta- including Pindrop, Bitpay, Worldpay, NCR, InComm and Global Payments. Brazilian payment-processing firm fintech-startup-makes-top-10-of-deloittes-fastest-growing-tech-companies-list/ Merchant e-Solutions has announced it’s moving its U.S headquarters from Silicon Valley to Atlanta. • Dec 2019: Fastest growing companies Atlanta https://www.inc.com/cameron-albert-deitch/atlanta-fastest- growing-companies-2019-inc5000.html

• Jan 2020: FinTech Report on Atlanta https://www.crowdfundinsider.com/2020/01/156019-more-than-120- fintech-firms-are-now-operating-in-atlanta-up-from-only-90-in-2016-report/

• March 2020: 39 fintech companies and start-ups to know https://builtin.com/fintech/fintech-companies- startups-to-know

• April 2020: 23 Fintech Companies Turning Atlanta https://builtin.com/atlanta/fintech-companies-in-atlanta

Existing Greater Manchester Links

• MIDAS have strong relationship with the Metro Atlanta Chamber

• MIDAS were in Atlanta in 2016 so have developed links with FinTech companies mentioned like Bitpay

• Lots of engagement with DIT Atlanta team https://www.gov.uk/world/organisations/british-consulate-general- atlanta/office/british-consulate-general-atlanta

• University of Manchester US Alum Coordinator Jonathan Giuliano Email: [email protected]

8721 Collaboration Partners

Organisation Description Sector Organisation Description Sector

Georgia Economic Development Focussed on supporting trade and Public Sector Georgia Tech World renowned research university Academia investment focusing on Business, Computing, https://www.georgia.org/en-uk https://www.gatech.edu/ Design, Engineering, Liberal Arts, and Sciences. British Consulate General Atlanta Houses the regional DIT team Government Georgia State University Main state university Academia https://www.gov.uk/world/organisations/bri tish-consulate-general- https://www.gsu.edu/ atlanta/office/british-consulate-general- atlanta Georgia Bio Mission is to advance the growth of Life Sciences Georgia’s life sciences industry and foster American Card Transactions Association Represents 70 + Georgia-based FinTech https://gabio.org/ strategic partnerships technology companies https://www.atpcoalition.org/ Georgia Automotive Association Promotes the interests of Automotive Georgia’s automotive and ground FinTech Atlanta Coalition of companies working to FinTech https://www.gama-georgia.org/ transportation industry cement promote Atlanta as a leader https://www.fintechatlanta.org of financial technology The Georgia Association of Broadcasters Media networking and lobbying group Media

Association for Financial Technology Founded in 1972, networking FinTech https://www.gab.org/about/ organisation for the FinTech sector http://aftweb.com/aws/AFT/pt/sp/about Technology Association of Georgia Networking Association for the states Tech tech sector Georgia Chamber of Commerce State chamber body Public Sector https://www.tagonline.org/

https://www.gachamber.com/

Metro Atlanta Chamber of Commerce City region chamber body Public Sector Georgia Film Academy Media training school Media

https://www.metroatlantachamber.com/ https://www.georgiafilmacademy.org/ Savannah Chamber of Commerce City chamber

https://www.savannahchamber.com/ Georgia State Government Government legislature Government

University of Georgia Research strengths in Biological Academia https://www.savannahchamber.com/ https://www.uga.edu/ Sciences/International Relations

8821 Key Headquartered Companies North Carolina

Economic Summary

North Carolina is located in the south-eastern region of the United States. It is the 28th largest and 9th-most populous of the 50 United States. Raleigh is the state's capital and Charlotte is its largest city. The Charlotte metropolitan area is the largest banking centre in the nation after New York and home to Bank of America.

North Carolina's second largest metropolitan area is Raleigh which is also home to the largest research park in the United States - Research Triangle Park in Chapel Hill, Durham, and Raleigh. North Carolina leads the USA in the production of tobacco, agricultural foods, textiles and furniture. Charlotte is a major textile and trade centre. In the last couple of decades, the science and technology and engineering industries have grown by 20%. Key cities such as Charlotte, Raleigh and Greensboro have experienced rapid growth whilst rural areas have been affected by offshoring and economic decline. Durham Rayleigh

Charlotte continues to experience raid growth, due in part to banking and finance industry and is home to 6 Charlotte of the fortune 500 companies.

ICT and Biotech industries have been growing since the creation of the Research Triangle Park 60 years ago which is home to 250 companies.

Key Industries include: Banking; FinTech; Aerospace & Defence; Automotive; Food Processing & Manufacturing; Plastics & Chemicals; Textiles; Biotech & Pharmaceuticals and Furniture.

Key Cities Key Industries

Rayleigh Financial Services, Biotech & Health, Food Processing, Telco, Electrical, Textiles, Clothing and Apparel, Paper Products.

Charlotte/ Financial Services (Banking – 2nd largest Banking Centre in US after NY) Motorsports Durham and Racing Technology; Only US F1 team and HQ of NASCAR; Energy (Charlotte USA – Energy Capital); Trucking & Freight Transportation. Life Sciences and Healthcare; ICT.

89 Sector Analysis NextGen Companies

Aerospace & Defence – The state has 200+ aerospace companies and 400+ aerospace suppliers. Universities like NC State are leading research into unmanned aerial vehicles plus there are industry Company Website MIDAS Team resources such as the NC Advanced Manufacturing Alliance and NextGen Air Transportation Centre. AgBiome www.agbiome.com Life Sciences Automotive – North Carolina has 300 auto manufacturing companies. It is the birthplace of stock car racing and NASCAR and home too 290 automotive manufacturing establishments. Companies specialise in areas such as heavy duty truck, body and trailer, engine & transmission, seating and interior systems and Ascletis www.ascletis.com Life Sciences brake system manufacturing. 33 of the top 100 global OEM automotive part suppliers have operations in NC. Thomas Built Buses, the largest school bus manufacturer in the country is HQ’d in High Point. Precession Biosce www.precisionbiosciences.com Life Sciences Food Processing and Manufacturing – NC is the 2nd largest state for food and beverage processing and the has 1000+ manufacturing companies. Pendo www.pendo.io CDT

Banking – NC is the 2nd largest banking city in the US. In addition, there is a growing FinTech sector with large companies such as AvidXchange and Lending Tree having their HQ in Charlotte. Phononic www.phononic.com CDT

Biotechnology & Pharmaceuticals – NC’s industry specialises in pharm manufacturing, health informatics, www.smartskynetworks.com CDT clinical research, biopharmaceutical development and crop genetic engineering. The state has over 600 companies and a biotech cluster that has grown by 36% since 2001. The sector is focused around the Research Triangle Park (see ecosystem spotlight). Precision Hawk www.precisionhawk.com CDT

Plastics & Chemicals – this industry is the fifth largest in the US and since 2010, North Carolina’s plastics Prescientco www.presciento.com Industrial and chemicals industries have been growing 50% more than the national average.

Textiles - 38,000 people work across 600+ companies in NC, the most in the US. NC State University has a globally recognised college of textiles and leads the nation in nonwovens research and production. Mickledore Companies

Furniture – NC’s furniture industry has 3,000 companies and the state is home to High point Market – the Company Website MIDAS Team largest furnishings industry trade show in the world. It is also the HQ to Furniture land South, the largest furniture store in the world. BioCryst Pha https://www.biocryst.com/ Life Sciences

Power Analyt https://www.poweranalytics.com/ Industrial

Curtiss Wrigh https://www.curtisswright.com Industrial

https://www.spx.com/ Industrial

9021 Ecosystem Spotlight: Research Triangle Fastest Growing Company News

The Research Triangle (also referred to a ‘The Triangle’) is a region anchored by the three major research • March 2020: Decade of Growth: Mapping out Charlotte universities 1) North Carolina State 2) Duke University and 3) University of N Carolina Chapel Hill as well as https://www.bizjournals.com/charlotte/news/2020/03/26/decade-of-growth-mapping-out-where-charlotte- the cities of Raleigh, Durham and Chapel Hill. It comprises of 250 companies and 50,000 employees with industry specialisations in biotechnology and pharmaceuticals. It is also home to the N Carolina saw.html Biotechnology Centre and First Flight Venture Centre https://www.rtp.org/ • North Carolina Start-ups Raised More Than $1 Billion Last Year https://www.inc.com/magazine/201902/kevin-j- RTP houses leading technology firms, government and world-class universities, medical centres and ryan/north-carolina-raleigh-research-triangle-2018-surge-cities.html schools. The region's growing high-technology community includes such companies as IBM, SAS Institute Cisco, NetApp, Red Hat, EMC Corporation, and Credit Suisse First Boston. In addition to high-tech, the region is consistently ranked in the top three in the U.S with concentration in life science companies. Some • Aug 2019: The Fastest Growing Companies In Charlotte Metro Area https://patch.com/north- of these companies include GSK, Biogen Idec, BASF, Merck; Novo Nordisk; Novozymes and Pfizer. A carolina/charlotte/here-are-fastest-growing-companies-charlotte-metro directory of the companies present in RTP can be found here https://www.rtp.org/directory-map/

• Oct 2018: North Carolina Mid-Market Fast 40 https://businessnc.com/2018-north-carolina-mid-market-fast-40/

• Aug 2017: North Carolina has 15 Of America's Fastest-Growing Companies -https://patch.com/north- carolina/charlotte/north-carolina-has-15-america-s-fastest-growing-companies-most-are-hiring

Existing Greater Manchester Links

• MIDAS have worked with Sean King, based in Charlotte for lead gen work. Sean put on programme for visit in 2014 around the Research Triangle

9121 Collaboration Partners

Organisation Description Sector Organisation Description Sector

Carolina FinTech Hub Focuses on integration of fintech FinTech HQ Raleigh North Carolina’s largest entrepreneurial Tech with incumbent financial institutions co-working community www.carolinafintechhub.org/ https://hq.community

Queen City FinTech Hub, Charlotte Founded in 2012 as accelerator FinTech The Loading Dock Raleigh Coworking space for high growth E-commerce programme companies in consumer product and e- https://www.qcfintech.co/ www.loadingdockraleigh.com commerce,

Andrew’s Launch Accelerator, Raleigh Provide up to $50k for early stage Tech Nest Raleigh Coworking space focussed on digital Digital companies including a 14-week marketing, design, A/E, IT, security, HR, Marketing www.entrepreneurshipclinic.ncsu.edu/accel program on entrepreneurial topics. www.nestraleigh.com PropTech erator/

NC Centre for Automotive Research Independent centre looking at product Automotive Bunker Labs, Charlotte Accelerator designed to help active Tech research, testing and development https://bunkerlabs.org/ duty and ex-servicemen https://nccar.us

The Centre for Advanced Hindsight Start-up lab that focuses on health FinTech & Future Renewable Electric Energy Delivery Centre for research in modernising the Energy and financial tech solutions from a Digital Health Management Systems Centre electric grid www.advanced-hindsight.com/startup-lab/ behavioural science standpoint. https://www.freedm.ncsu.edu/ Joules Accelerator, Charlotte Focussed on energy sector Energy

www.joulesaccelerator.com/home NC Motorsports Research Centre, Charlotte Houses motorsports research facilities, Automotive including water and wind tunnels and an https://motorsports.uncc.edu alternative propulsion dynamometer test First Flight Venture Centre, RTP Support for companies developing Digital Health cell. health security solutions www.ffvcnc.org Advanced Transportation Energy Centre Develops EV technologies, as well as Automotive Riot Accelerator Programme Focussed on start-ups in IoT IoT battery and power-electronics https://ncriot.org https://www.atec.ncsu.edu

American Underground, Raleigh Google sponsored coworking Tech AgTech Accelerator, Durham Focused on the discovery and AgriTech community designed for high- development of agricultural technology www.innovateraleigh.com/ growth start-ups www.agtechaccelerator.com/about companies.

9221 Key Headquartered Companies Colorado

Economic Summary

Colorado is in the west of the U.S and the economy’s origins are in mining, agriculture and livestock. Current agricultural products are cattle, wheat, dairy products, corn and hay. Colorado also has the largest annual production of beer of any state. In the second half of the 20th century, the industrial and service sectors expanded greatly and the economy diversified. Today it is notable for its concentration of scientific research, Biosciences and high-technology industries. Other industries include Food Processing; Transportation Equipment; Machinery; Chemical Products; Metal Extraction (gold, silver, and molybdenum). The federal government is a major economic force in the state with many important federal facilities such as NORAD (North American Aerospace Defence Command), the National Renewable Energy Laboratory and the US Boulder Geological Survey Denver

The capital is Denver which is the most populous city and an important financial centre. It’s economy is based largely on its geographic position and it’s the location of federal, High-tech; Education; Financial Services; Distribution and Storage Services to the Rocky Mountain States. Denver is home to several large corporations and its position as the largest city in a mineral-rich and fossil fuel-rich area leads mining and energy companies to maintain offices in the metro area. Denver’s early days had gold and silver booms and busts which played a large role in its economic success. In the 1970s and 1980s, the energy crisis in America created an energy boom in Denver and downtown Denver was built up considerably during this time. Energy and mining are still important to the economy today. Denver's west-central geographic location in the Mountain Time Zone also benefits the telecommunications industry by allowing communication with both North American coasts, South America, Europe, and Asia in the same business day. Denver's location also enables it to be the largest city in the U.S to offer a 'one-bounce' real-time satellite uplink to six continents in the same business day.

Key Cities Key Industries

Denver Government agencies; Financial Services; Agriculture; Metal Extraction; Energy; Scientific Research and High Technology; Satellite Technology; Distribution and Storage Services; Education.

Boulder Transportation; Logistics; Aerospace; Bioscience; IT; Cleantech, Natural Products.

93 Sector Analysis NextGen Companies

Advanced Manufacturing - The state has 6,000 manufacturers working across a variety of business sectors Company Website MIDAS Team such as electronics, energy, aerospace, biomedical, food and beverage. Strengths include engineering new telescopes/products for NASA and processing nut-free food products. The sector is complimented by the states geographic location and infrastructure plus access to research institutions developing advancements https://www.convercent.com/ in manufacturing. These include the University of Colorado at Boulder and the Colorado School of Mines. CDT Colorado launched the Advanced Industries Accelerator programmed in 2019 and since then $8.5bn has been invested. https://www.cybergrx.com CDT Aerospace – From Kepler to the Hubble Space Telescope to Dream Chaser and Orion, Colorado’s aerospace companies are a leader of space travel, exploration and groundbreaking research for the U.S Government and NASA alike. The state is a leader in the aerospace industry due to natural attributes such http://www.guildeducation.com as having miles of open land, a strategic location and a capital that’s 5,300 feet above sea level. Colorado Life Sciences also possesses cutting-edge space exploration programs, four military commands and renowned research https://www.inscripta.com/ laboratories and universities. Combined, these assets have helped Colorado develop into the nation’s Life Sciences second-largest aerospace economy, with more than 400 companies who are leading and supporting groundbreaking missions related to space and planetary science. The state is also the location for the www.minutekey.com National Center for Atmospheric Research, which performs revolutionary research to further explore and CDT better understand the planet. www.miragentherapeutics.com Life Sciences Electronics - Colorado is developing as a centre for electronics. The state is home to a number of electrical engineering research labs through the universities such as the University of Colorado Boulder and Colorado http://www.mycotechcorp.com School of Mines. The state also has 30 federal agencies contributing towards R&D. Advanced Manufacturing

http://www.sovrn.com Biosciences - The state has 1,700 Bioscience firms and creates 20 new companies in the sector every year. CDT Firms are producing cutting-edge medicines and developing research in life-saving drugs and devices. 90% of the state’s bioscience firms are located along the Front Range with the heart of the Rocky Mountain www.welltok.com region’s life science centre found at the Fitzsimons Life Science District and the adjacent Anschutz Medical Mickledore Life Sciences Campus. As one of the most ambitious medical developments in the nation, the $5.2 billion project encompasses 578 acres and more than 6m sq. ft of research space that over time will house more than www.WunderCapital.com 43,000 bioscience professionals. More than $1.6bn has been invested by VC’s firms in the industry in the Advanced Manufacturing last 5 years and advocacy organisations like the Colorado Bioscience Association are a key component to the state’s bioscience cluster. www.national-electric-coil.com Advanced Manufacturing Technology - The sector accounts for 14% of the states GDP. Every year, Denver start-up week brings together entrepreneurs from around the world and in 2018, 19,000 people participated. From the start-ups http://aflac.com/ to the major technology corporations, nearly 11,000 technology companies are located in Colorado FPS including global corporations AT&T, DISH Network and IBM Corporation. New digital companies are created every 72 hours like. Lot Spot - a web app designed by students from the University to collect, track www.root9b.com and analyse parking data. The industry is supported by groups like the Colorado Technology Association. CDT

www.tenable.com Energy - The state has access to a wealth of natural resources with strengths in Smart Grid Innovation; CDT Solar; Wind; Biofuels; Natural Gas, Biofuel, Oil and Coal.

9421 Ecosystem Spotlight: Manufacturers Edge Fast Growing Companies News

Manufacturer’s Edge is the official representative of the MEP National Network in Colorado. The MEP National Network is a unique public-private partnership that delivers comprehensive, proven solutions to U.S • Growjo 10000 – fastest growing companies in Colorado https://growjo.com/state/CO manufacturers, fuelling growth and advancing U.S manufacturing. • August 2019 Inc 5000 – all 154 Colorado companies: https://www.inc.com/inc5000/2019/top-private- Manufacturer’s Edge encourages the strength and competitiveness of Colorado manufacturers through companies-2019-inc5000.html?state=co&cid=profile500016-honorlist-state coaching, training, and consulting, collaboration-focused industry programs, and by leveraging government, university, and economic development partnerships. Through onsite support and technical assistance, Colorado Biz Mag & Denver Business Journal – Inc 5000 Colorado company overviews & highlights: Manufacturer’s Edge works to boost the competitiveness of Colorado manufacturers. The experienced https://www.cobizmag.com/the-154-colorado-companies-that-made-inc-5000s-list/ engineers and business professionals at Manufacturer’s Edge have skills in manufacturing, management, https://www.bizjournals.com/denver/news/2019/08/14/colorado-companies-inc-5000-2019.html process improvements, and technology acceleration and work closely with manufacturers to provide company assessments and customised solutions including hands-on facilitation and implementation. • Feb 2020: Built In Colorado’s 50 Start-ups to Watch https://www.builtincolorado.com/2019/02/05/50-Colorado-startups-watch-2019

Existing Greater Manchester Links

9521 Collaboration Partners

Organisation Description Sector Organisation Description Sector

Colorado Chamber of Commerce Trade association Various Colorado Renewable Energy Society Statewide membership organisation for Industrial / energy-related industries Clean Tech www.cochamber.com www.cres-energy.com

Colorado Tourism Official state tourism agency Tourism Colorado Solar Energy Industries Association Trade association for solar energy sector Industrial / www.colorado.com Clean Tech www.cossa.co Colorado Advanced Manufacturing Manufacturing sector trade Industrial Association association Energy Efficiency Business Coalition Statewide trade association for non-utility Industrial / energy companies Clean Tech www.coloradomanufacturing.com www.eebco.org

Colorado Technology Association Trade association for technology Industrial Colorado Cleantech Industries Association Trade association for clean tech-related Industrial / industries industries Clean Tech www.coloradotechnology.org www.coloradocleantech.com

Colorado Office for Economic Statewide economic development Public sector Colorado Bankers Association Financial sector trade association Financial Development & International Trade agency www.coloradobankers.org www.choosecolorado.com Colorado Financial Services Associations Financial sector trade association Financial Colorado Bioscience Association Trade association for bioscience & Life Sciences life sciences www.cofisca.com www.cobioscience.com Start-up Colorado Ecosystem supporting entrepreneurs and Various Colorado Oil & Gas Association Trade association for oil & gas Industrial SMEs www.startupcolorado.org www.coga.org Colorado Start-ups Statewide entrepreneur ecosystem Various Colorado Bioscience Institute Life sciences sector body Life Sciences www.coloradostartups.org www.cobioinstitute.org Colorado Small Business Development Center Organisation supporting SMEs through Public sector Colorado Aviation Business Association Statewide agency promoting aviation Industrial Network the provision of consulting and training and aerospace and supporting programmes www.mycaba.org industry businesses www.coloradosbdc.org

9621 Key Headquartered Companies New Jersey

Economic Summary

New Jersey is in the Mid-Atlantic region of the United States bordered on the north and east by the state of New York. The state capital is Trenton and Newark is the biggest City. New Jersey lies within the areas of New York City and Philadelphia. New Jersey's economy is multifaceted, but is centred on the pharmaceutical industry, biotechnology, information technology, the financial industry, chemical development, telecommunications, food processing, electric equipment, printing, publishing, and tourism. New Jersey hosts several business headquarters, including twenty-four Fortune 500 companies. New Jersey's agricultural outputs are nursery stock, horses, vegetables, fruits and nuts, seafood, and dairy products. New Jersey ranks Newark second among states in blueberry production, third in cranberries and spinach, and fourth in bell peppers, peaches, and head lettuce. The state harvests the fourth-largest number of acres planted with asparagus. The origins of the economy came from growth of factories in the Bix 6 Cities - Camden, Paterson, Newark, Trenton Trenton, Jersey City, and Elizabeth which helped to drive the Industrial Revolution. New Jersey's geographic location at the centre of the Northeast megalopolis, between Boston and New York City to the northeast, and Philadelphia, Baltimore, and Washington, D.C, to the southwest, fuelled its rapid growth.

New Jersey has a strong scientific economy and is home to major pharmaceutical and telecommunications firms, drawing on the state's large and well-educated labour pool. There is also a strong service economy in retail sales, education, and real estate, serving residents who work in New York City or Philadelphia. Shipping is a key industry in New Jersey because of the state's strategic geographic location, the Port of New York and New Jersey being the busiest port on the East Coast. The Port Newark-Elizabeth Marine Terminal was the world's first container port and today is one of the world's largest.

Key Cities Key Industries

Newark Biopharmaceuticals (pharmaceuticals, biotechnology, and medical device manufacturing) Healthcare; Transportation; Manufacturing; Technology

Trenton Manufacturing and Food Processing (Bakeries); TV

97 Sector Analysis NextGen Companies

Life Sciences – New Jersey has a 150-year history of developing lifesaving medicine and a major centre for Company Website MIDAS Team discovery. The state is home to 12 of the top 20 pharmaceutical companies including Celgene which is a trailblazer in oncology), Amicus Therapeutics (which received its first FDA approval for rare diseases in 2018), NPS Pharma (bought by Shire for $5.2 billion in 2015) and Celator Pharmaceuticals (acquired by Jazz www.crbard.com Life Sciences for $1.5 billion in 2016). There are nearly 3,200 facilities operating across all sectors and the New Jersey life sciences industry directly employs over 112,000 people. Key sub-sectors include Pharma; Biotechnology and http://www.interpacediagnostics.com/ Life Sciences Medical Devices.

Pharma – companies in the state are developing treatment and prevention of Alzheimer’s disease while www.billtrust.com FPS Celgene, Pfizer, Bristol-Myers Squibb, Merck and Novartis are improving the lives of cancer patients around the world. Today, there are more than 1,000 drugs in development in New Jersey. The Newark-Jersey City metro area ranks #1 for Pharmaceutical Employment. www.electrocore.com Life Sciences

Biotech - New Jersey companies are pioneering patient-centric therapies and the community has grown by http://nevakar.com/ Life Sciences more than 400% in less than 2 decades. New Jersey’s universities are accelerating cell and gene therapy breakthroughs. Rutgers University’s RUCDR Infinite Biologics is the world’s largest university-based cell and DNA repository that collaborates with researchers in the public and private sectors throughout the world. www.panopticapharma.com Life Sciences The New Jersey Innovation Institute is home to five industry-facing “innovationLabs” (iLabs), including the Cell and Gene Therapy Development Center which combines state-of-the-art technologies, infrastructure, Mickledore Companies facilities and class expertise to support the development and manufacturing of cell therapy products.

Medical Devices - New Jersey is on the forefront of next-gen medical devices, from neuro-stimulators to Company Website MIDAS Team robotic assistance and implantable electronic devices. New Jersey’s medical device industry has 700 companies and accounts for 20% of the life sciences industry cluster’s employment. Despite having only 2% Becton, Dickinson and Co www.bd.com Life Sciences of the US population, New Jersey employs 14% of U.S medical device workers. Integra Life Sciences Holding Corp www.integralife.com/ Life Sciences

Food – New Jersey is home to some of the world’s leading food companies such as Campbell Soup PTC www.ptc.com CDT Company and Goya Foods, the largest Hispanic food company in the U.S. Today, New Jersey has a $126 billion food and agriculture industry with 50,000 food manufacturing companies, R&D facilities, distribution Scivantage www.scivantage.com/ FPS centers and farms employing 440,000 people. Prudential Financial www.prudential.com/ FPS Tech – the state has 10,000 companies with key strengths include: FinTech; A.I; Big Data; Cyber Security. Quest Diagnostics www.questdiagnostics.com/ Life Sciences FinTech strengths include personal finance apps, Insuretech; A.I for institutional trading and the state is a key player with 25% of Forbes Fintech 50 located there. New Jersey is home to the headquarters of four of Cantel Medical Corp www.cantelmedical.com/ Life Sciences the top 100 fintech companies in the world – IPC, Cognizant, Indecomm and NICE Actimize. Cyber - New Jersey is home to 33% of the “Global Cybersecurity 100” companies. New Jersey is also emerging as a Celgene www.celgene.com Life Sciences national leader in the A.I and robotics due to the proximity to Princeton University faculty research. Covanta www.Covanta.com Industrial Manufacturing - 10,000 manufacturers operate in New Jersey – from large pharmaceutical companies to small machine shops. The companies specialise in the production of Food, Chemical, Pharmaceutical, Global Thermostat www.Globalthermostat.com Industrial Petroleum products. GoMoHealth www.gomohealth.com Life Sciences

9821 Ecosystem Spotlight: South Jersey Technology Park Fast Growing Companies News

The South Jersey Technology Park is located at Rowan University and offers wet labs as well as an • Patch August 2019 – 125 fastest growing companies in New Jersey according to Inc 5000 incubator and office space for technology businesses. https://patch.com/new-jersey/newarknj/here-are-fastest-growing-companies-new-jersey

Rowan University was awarded a grant of $5.8 million by the New Jersey Economic Development Authority • August 2019 – all 128 New Jersey companies featured on Inc 5000 to establish the South Jersey Technology Park The goal of SJTP is to lead the economic revitalisation of https://www.roi-nj.com/2019/08/14/industry/128-from-n-j-land-on-inc-5000s-fastest-growing-companies-list/ Southern New Jersey through an integrated program of science and technology initiatives. • NJ Tech Weekly August 2019 – Top 20 tech firms included in Inc 5000 (company profiles) To fulfill its mission, SJTP was incorporated as a non-profit corporation, South Jersey Technology Park @ https://njtechweekly.com/top-20-nj-tech-and-tech-related-companies-on-the-inc-5000-fastest-growing- Rowan University, Inc. The Board of Directors of SJTP was elected and a strategic plan was developed and companies-list/ put into action. The park includes the Samuel H. Jones Innovation Center - a 45,000 square-foot building with laboratory and office space for academic research and industry. Growjo – Fastest growing companies in New Jersey https://growjo.com/state/NJ/10 A showpiece of SJTP is its Virtual Reality Centre, where clients conducting high-level research in engineering, science and medicine work together on collaborative projects. SJTP is strategically located 30 minutes from Philadelphia.

Existing Greater Manchester Links

• Eversheds Sutherland Manchester has strong links with New Jersey

9921 Collaboration Partners

Organisation Description Sector Organisation Description Sector

New Jersey Chamber of Commerce New Jersey’s largest multi-sector Various NJ Technology & Manufacturing Association Trade association for manufacturing and Industrial / CDT trade association technology sectors www.njchamber.com www.njtma.com

New Jersey Business & Industry Association Trade association supporting Various businesses across New Jersey New Jersey Tech Council Industry body for tech sector CDT www.njbia.org www.njtc.org Commerce and Industry Association of New Jersey private sector trade Various New Jersey association Bio New Jersey Trade association for life sciences and Life Sciences bioscience sector www.cianj.org www.bionj.org

New Jersey Economic Development Statewide economic development Public sector HealthCare Institute of New Jersey Industry body for healthcare and life Life Sciences Authority agency science sectors www.hinj.org www.njeda.com Energy Efficiency Association of New Jersey Regional trade association for energy Industrial Visit New Jersey Official tourism agency Tourism related industries www.eeaofnj.org www.visitnj.org

Choose New Jersey Investment promotion agency Public sector New Jersey Food Processors Trade association for food Industrial processing and related industries www.choosenj.com www.njfoodprocessors.org New Jersey Pharmaceutical Association Trade association for pharmaceutical Life Sciences Association of Food Industries, Inc Trade association for food Industrial sector processing and related industries www.njphast.org www.afius.org South Jersey Institute Regional organisation focused on the Industrial NJ Food Council Industry body for food sector Industrial energy sector www.sjindustries.com www.njfoodcouncil.com New Jersey Utilities Association Trade association for energy and related Industrial New Jersey Plastics Industry Association Trade association for plastics and Industrial industries related industries www.njua.com www.plasticsindustry.org

10021 Key Headquartered Companies Virginia

Economic Summary

Virginia in the South-eastern and Mid-Atlantic regions of the United States. The capital is Richmond but Virginia Beach is the most populous city. Plantation form the origins of the economy and has grown to include Agriculture in the Shenandoah Valley; Federal agencies in Northern Virginia, (including the headquarters of the US Department of Defence and CIA. There are 37 Fortune 1000 companies with headquarters in Virginia.

According to the American Electronics Association Virginia has the highest concentration of technology workers of any state and the fourth-highest number of tech workers after California, Texas, and New York. Computer chips became the state's highest-grossing export a decade ago, surpassing its traditional top exports of coal and tobacco combined. Northern Virginia, once considered the state's dairy capital, now hosts software engineering, communication technology, defence contracting companies, particularly in the Dulles Technology Corridor. This is centred on the border of Fairfax County and Loudoun County near Dulles International Airport. The state has one of the worlds largest and fastest growing data centres markets. Richmond Virginia has 23 Fortune 500 companies, ranking the state sixth nationwide. Tyson's Corner is one of the largest business districts in the nation. The state's biotechnology industry is not centralised, but growing, highlighted by the building of the Virginia Biotechnology Research Park biotech incubator in Richmond and the opening of the Howard Hughes Medical Institute in Northern Virginia. Virginia's nanotechnology industry is centred in Virginia Beach Hampton Roads and Northern Virginia. The region has an advantage in the commercialisation of nanotechnology due to the amount of research, much of it spearheaded by NASA's Langley Research Centre. Richmond's economy is primarily driven by law, finance, and government, with federal, state, and local governmental agencies, as well as notable legal and banking firms in the downtown area. Dominion Energy and WestRock, Fortune 500 companies, are headquartered in the city, with others in the metropolitan area. Key Cities Key Industries

Richmond Financial and Professional (Banking; Credit Cards; Law) Richmond is particularly known for its bankruptcy court; Advertising; Biotechnology; Film and TV; Food and Drink; ICT; Nanotechnology; Unmanned Systems.

Virginia Beach Advanced Manufacturing; Government; Defence; Agribusiness.

101 Sector Analysis NextGen Companies

Food and Drink Processing – the states central location on the east coast with good access to major population centres has helped develop this industry. Well-known companies have are based in Virginia Company Website MIDAS Team producing many household food and beverage brands.

ICT – The state has strengths in cloud computing and cybersecurity and is a leading data centre market . It also has the 2nd-highest concentration of high-tech workers in the nation Virginia has the largest tech www.edgeconnex.com talent-producing region in the country in Northern Virginia. CDT

Cyber Security - Virginia has emerged as a national leader in cybersecurity with close proximity to the federal government, unparalleled assets in information technology and strong higher education institutions. www.lookingglasscyber.com Data Centres - Virginia boasts the largest data centre market in the US. The Northern Virginia region has CDT been home to the world’s leading data processing and storage companies since the early days of the internet.

Life Sciences - Virginia is home to many federal labs, with 11 federally funded R&D Centres and 23 FLC https://www.threatq.com/ Laboratories and internationally recognised R&D facilities such as SRI International and Howard Hughes CDT Medical Institute. Located in the middle of the Mid-Atlantic’s growing life sciences cluster.

Manufacturing - Virginia’s East Coast location connects has made it a good location for manufacturers. The industry spans a wide variety of products – from craft beer and snack cakes to steel beams and wood http://venturegloballng.com/ flooring, to semiconductors and rocket engines. Industrial

Advanced Materials - Virginia is home to many facets of the advanced materials industry, with companies manufacturing products ranging from window film to Kevlar. Mickledore Companies Aerospace - Virginia’s role in the aerospace industry dates back to 1917 when the nation’s first aeronautics laboratory was established in Hampton – now the NASA Langley Research Centre. Today, Virginia’s strength is rooted in the diversity of the sector, with manufacturing, defence, R&D, and commercial space Company Website MIDAS Team represented in the Commonwealth.

www.avizia.com/ Automotive – Th state is home to many facets of the automotive industry, from the largest Volvo Truck Life Sciences assembly plant in the world and several Tier 1 manufacturing operations, to the headquarters of (Since acquired by Amwell) Volkswagen of America and cutting-edge research conducted at the second-largest university-level transportation institute in the U.S. www.genworth.com/ FPS Unmanned Systems - Virginia has a collection of assets related to unmanned systems in the air, on land, or at sea. It is home to the Mid-Atlantic Aviation Partnership, one of six FAA-designated UAS test sites, and two NASA facilities focusing on UAS research, Langley Research Centre and Wallops Flight Facility. www.teraint.com Industrial

10221 Ecosystem Spotlight – Dulles Technology Fastest Growing Company News

The Dulles Technology Corridor is a business cluster containing many defence and technology companies, News located in Northern Virginia near Washington Dulles International Airport. The area was called "The Silicon • May 2019: Virginia Chamber of Commerce fastest growing companies Valley of the East" by Atlantic magazine, a high tech colossus" by Virginia Business Magazine and the https://www.vachamber.com/2019/05/02/virginia-chamber-unveils-24th-annual-list-of-virginias-fastest- "netplex" (Fortune Magazine). Rising along with the Internet boom of the 1990s, the Corridor is home to growing-companies-the-fantastic-50/ more satellite and telecom firms than anywhere in the world. In total, there are over 30,000 research-, technological- and development-related companies in this expansive area that includes Virginia’s Loudoun • May 2019: Convoke Named One of Virginia's Fastest Growing Companies for 2019 and Fairfax Counties. At one time, the Corridor contained the mainframe with the master list of every single https://www.prnewswire.com/news-releases/convoke-named-one-of-virginias-fastest-growing-companies-for- Internet domain name. 2019-300844552.html

There are many headquarters or major regional offices of global companies located here. Some of these • Aug 2019; Loudon, Fastest Growing Company List https://biz.loudoun.gov/2019/08/15/loudoun-inc-5000-2019/ companies include Northrup Grumman, Airbus, DynCorp, Microsoft, Nortel Networks, Oracle Corporation, Raytheon, Verizon, and Unisys.

The corridor is also home to the U.S headquarters for the global Internet Society. As well as this location, this organisation is based in Geneva, Switzerland. Founded in 1992, the Internet Society is dedicated to taking the lead in Internet-oriented standards, education, and policy, making sure that it will remain an open means of communication for use by everyone. The Internet Society has over 80 organisational and 28,000 individual members. Some members form chapters that stem from where they live or what type of interests they have. More than 90 world-wide chapters are currently active.

Tyson's corner is located here and is Virginia’s largest office market. Existing Greater Manchester Links

• Northrop Grumman are HQ’d here and MIDAS cyber investor since 2018

• Virginia Economic Development Organisation

10321 Collaboration Partners

Organisation Description Sector Organisation Description Sector

Virginia Economic Development IPA for the state General University of Virginia Resilient and Advanced Infrastructure Advanced Laboratory (RAIL) Materials https://www.vedp.org/ https://engineering.virginia.edu/rail/rail- research/advanced-materials-and-composites Dulles Technology Corridor Technology ecosystem Tech Westwood Club Business Networking Group General www.dullestechnologycorridor.com https://www.whimbyrichmond.com/

Virginia State Government Government body General VA Bio+Tech Park Life Sciences and emerging tech Life Sciences https://www.virginia.gov/ community in Richmond https://www.vabiotech.com/

Virginia Tech Technology, Life Sciences specialist Tech North Virginia Chamber of Commerce Business Networking Group General university https://vt.edu/ https://www.novachamber.org/

Northern Virginia Technology Council Membership technology council Tech Loudon Chamber of Commerce Business Networking Group General https://www.nvtc.org https://www.loudounchamber.org/

Global Internet Society Global Headquarters Tech Arlington Chamber of Commerce Business Networking Group General http://www.isoc.org/ https://www.arlingtonchamber.org/

Virginia Commonwealth University University Academic GeoEnergy Research Centre Renewable energy research body Energy

https://www.vcu.edu/about-vcu/ www.gerc.ac.uk/geoenergyresearchcentre.aspx

Prince William County Biotechnology specialist Life Sciences Hampton Roads Collaborative Membership technology council Tech

http://www.pwcecondev.org https://technologyhamptonroads.com

10421 Key Headquartered Companies Pennsylvania

Economic Summary

Pennsylvania is a state located in the North-eastern, Great Lakes and Mid-Atlantic regions of the U.S. Pennsylvania's two most populous cities are Philadelphia and Pittsburgh. The state capital and its 10th-largest city is Harrisburg. If Pennsylvania were an independent country, its economy would rank as the 19th-largest in the world. Pennsylvania is home to fifty Fortune 500 companies. Pennsylvania is a key agricultural producer, notably mushroom apples, layered chicken, milk, corn for silage, and grape production.

Philadelphia is the centre of economic activity in the state, home to six Fortune 500 companies, with more located in suburbs. The city has shifted to an tech and service-based economy in recent years with financial services and insurance accounting for the largest sector of the metro economy. It has also emerged as a biotechnology hub and is one of the largest health education and research centres in the U.S. The Delaware Valley contains the headquarters of most of the Fortune 500 corporations. Pittsburgh is known as "the Steel Harrisburg City" for its more than 300 steel-related businesses. Aside from steel, Pittsburgh has led in manufacturing of Pittsburgh aluminium, glass, shipbuilding, petroleum, foods, sports, transportation, computing, autos, and electronics. For part of the 20th century, Pittsburgh was behind only New York City and Chicago in corporate headquarters employment. There are 1,600 technology firms based in Pittsburgh and the area has served as the long-time federal agency headquarters for cyber defence, software engineering, robotics, energy research and the nuclear navy. The area is home to 68 colleges and universities, including research and development leaders Carnegie Mellon University and the University of Pittsburgh. Eight Fortune 500 companies and six of the top Philadelphia 300 U.S law firms make their global headquarters in the area. Pittsburgh has adapted since the collapse of its century-long steel and electronics industries. The region has shifted to high technology, health care, nuclear engineering, tourism, biomedical technology, finance, education, and services. Pittsburgh has hosted INPEX, the world's largest invention trade show annually since 1984.

Key Cities Key Industries

Philadelphia Banking and Financial Services; Healthcare; Biotechnology; Tech; Transportation; Education; Manufacturing; Oil refining; Food Processing; Telco.

Pittsburgh Services; Medicine; Higher Education; Banking; High Technology

Harrisburg Service-related industries, especially health-care and a growing technological and biotechnology industry

105 Sector Analysis NextGen Companies

Manufacturing - the states steel industry helped build the Golden Gate Bridge, Empire State Building, and Company Website MIDAS Team the Hoover Dam. Today, the sectors strengths are increasingly focused on advanced additive, high-tech, and digital strategies. Companies specialise in medical devices and organic foods to nanomaterials and www.accolade.com fabricated metal products Life Sciences

Plastics - Pennsylvania’s abundant natural gas and natural gas liquids (NGL) resources are creating www.duolingo.com CDT opportunities for growth in the plastics industry throughout the state. Ethane and propane – two important NGL feedstocks for petrochemical processing are highly cost competitive compared to other global www.neuronetics.com production centres. Production forecasts indicate that natural gas and NGL production in the Marcellus Life Sciences and Utica Shale play will continue to increase and will account for 40% of U.S production by 2030, solidifying the region as a top NGL producer. The abundance of NGLs in the region, in combination with www.petuum.com specialised workforce training and plastics engineering programs, and proximity to key US consumer CDT markets translates into significant competitive advantages for plastics companies located in Pennsylvania.

http://workspaceproperty.com Life Sciences - Pennsylvania’s legacy in the life sciences began with the establishment of the first hospital in FPS the United States in Philadelphia, but today it’s evidenced by our mature life sciences ecosystem where companies at all stages succeed and can find support from economic development experts and fellow business owners alike. There are thousands of companies across the state making advances in various www.c3iot.com areas of the life sciences. Watch how four of these companies are pushing the limits of technology with CDT creative solutions in a number of fields, including Alzheimer’s disease research and therapeutics, chronic pain medication delivery, motion technology-centric medical devices, and respiratory dialysis. http://www.proteus.com/ Life Sciences Agri-business; Food and Paper - Pennsylvania’s food and agribusiness industry represents more than two www.evernote.com centuries of heritage and is a leading economic driver across the state, producing products like food and CDT hardwoods. The high-quality soil, crop diversity, strong university partnerships, and farming tradition paired with strategic location and comprehensive infrastructure and logistics systems has made the state a centre www.L-3.com for agribusiness-focused companies. Pennsylvania leads the nation in food-processing companies, with Mickledore CDT more than 2,300 operating across the state. The strength of the food-processing sector supports the states status in the value of shipments of canned fruit and vegetable specialty products, chocolate and cocoa www.nuscalepower.com products, potato chips, and pretzels. The dairy industry ranks second in the country in butter production, Industrial and in the top 10 in cheese and milk production. Pennsylvania lives up to its name with a hardwoods and forestry industry that’s known for its quality and sustainability. The state has the largest hardwood forest in the US grow more than 10% of the nation’s Christmas trees. The forestry, logging, and lumber, paper, and www.Aquionenergy.com Industrial secondary wood products industries are key employers. www.Globalthermostat.com Industrial Natural Gas - Gross natural gas production, primarily from the Marcellus Shale, made the state the nation’s second-largest national gas producer for the fourth consecutive year in 2016. This leap in production has also ranked us among the top three energy exporters in the US. Natural gas is a key aspect of the energy www.Poweranalytics.com economy, including heat, power, downstream manufacturing, and electricity generation. Industrial

www.Tiogapipe.com Industrial

10621 NextGen Companies NextGen Companies

Company Website MIDAS Team Company Website MIDAS Team

http://www.lfg.com/ FPS www.burns-group.com NextGen Companies… Industrial https://www.picwell.com/ FPS

http://www.picwell.com/ http://www.bottomline.com/ CDT FPS

http://www.ea.com/ https://www.payrange.com/ CDT FPS

www.ikanow https://www.ert.com/ CDT Life Sciences www.manageengine.com CDT http://www.healthsparq.com/ Life Sciences www.tripwire.com CDT http://www.sensogram.com/ Life Sciences www.amyx.com CDT www.inovio.com Life Sciences www.arrayent.com CDT Mickledore Companies www.elasticm2m.com CDT Company Website Team http://www.integralife.com/ CDT www.apttus.com CDT

http://www.natus.com/ Life Sciences www.Graphenefrontiers.com Industrial http://www.thoratec.com/ Life Sciences www.philagear.com Industrial www.acceldx.com/ Life Sciences

https://www.avizia.com/ www.Tiogapipe.com Industrial Life Sciences

10721 Ecosystem Spotlight – University City Science Centre Fastest Growing Company News

The origins of the Life Sciences industry in the Greater Philadelphia Region can be traced to the • Patch August 2019 – Pennsylvania’s fastest growing companies, 172 make Inc 5000 list 2020 establishment of the University of Pennsylvania in 1740 and its Medical School in 1765. The growth of the https://patch.com/pennsylvania/across-pa/these-are-pennsylvanias-fastest-growing-companies chemical industry in the 1800s amassed new resources and talent that provided a foundation for the new pharmaceutical industry, then onward to the creation of the region’s first biotechnology company, Centocor, • Central Pennsylvania Business Journal – Top 50 fastest growing companies 2020 in 1979. Incubators, accelerators, and regional networking programs provide residence and co-working https://www.cpbj.com/event/top-50-fastest-growing-companies/ spaces to nurture new technology companies. Anchored by the University City Science Centre, the region’s 1.5 million square feet of incubator space also includes several other regional facilities focused on Life Sciences. • Pittsburgh Business Times – Fast 50 list of fastest growing companies https://www.bizjournals.com/pittsburgh/news/2019/08/28/where-each-company-ranked-on-the-fast-50-list- The University City Science Centre is the first and largest urban research park in the United States. It was of.html established in 1963 in an area of Philadelphia, now known as University City. It provides technology commercialisation resources to entrepreneurs, and programs that nurture and sustain new technology • Growjo 10000 – 100 fastest growing companies in Pennsylvania 2020 businesses, convenes the innovation community and aims to inspire the next generation of entrepreneurs https://growjo.com/state/PA through hands-on learning and career exposure. The Science Centre’s business incubators support start-up companies that have raised at least seed capital, and that are engaged in product development in a range of industry sectors. Comprising approximately 50,000 square feet of mixed laboratory and office facilities, the Science Centre's Port incubator currently supports the activities of 29 start-up companies which are putting over $50 million in risk capital to work – spanning seed-stage to Series A investment.

Existing Greater Manchester Links

• Low Carbon collaboration with Seattle

• Pennsylvania state IPA https://dced.pa.gov/key-industries/

• Colliers https://www2.colliers.com/en/countries/united-states/cities/philadelphia/philadelphia-life-sciences-team

10821 Collaboration Partners

Organisation Description Sector Organisation Description Sector

Pennsylvania Chamber of Business and Trade association, headquartered in Various Pittsburgh Technology Council Trade association for technology industry CDT Industry Harrisburgh www.pghtech.org www.pachamber.org

Visit Pennsylvania Statewide official tourism Tourism Technology Council of Central Pennsylvania Statewide tech industry body CDT organisation www.visitpa.com www.tccp.org

Pennsylvania Manufacturers’ Association Trade association for manufacturing Industrial Pennsylvania’s Manufacturers’ Association Trade association for manufacturing Industrial sector industry www.pamanufacturers.com www.pamanufacturers.org

Pennsylvania’s Food Merchants Association Statewide trade association for food Agribusiness The Manufacturers’ Association Statewide industry body for Industrial sector and related industries manufacturing, production and logistics www.pfma.org www.pascpa.org

PennAg Industries Association The premier agribusiness association Agribusiness Plastics Industry Association Trade association for plastics-dependent Industrial in Pennsylvania industries www.pennag.com www.plasticsindustry.org

PA Department of Community & Economic State agency supporting businesses Public sector Life Sciences Pennsylvania Statewide trade association for life Life Sciences Development and Pennsylvania’s economic sciences industries development www.lifesciencespa.com www.dced.pa.gov American Forest and Paper Association Trade association for paper and wood Industrial Pennsylvania Economic Development Statewide trade association of local, Public sector products industries Association state, corporate and non-profit www.afandpa.org economic development www.peda.org The Energy Association of Pennsylvania Trade association for regulated electric Industrial PASAE Trade association and networking Various and natural gas industries community for private sector www.energypa.org www.pasae.org

British American Business Council of Trade association promoting Various Pennsylvania Independent Oil & Gas Association Trade association for oil & gas industries Industrial Greater Philadelphia transatlantic business and community relations www.pioga.org www.babcphl.com

10921 Key Headquartered Companies Michigan

Economic Summary

Michigan is in the Great Lakes and Midwestern regions of the United States. Its capital is Lansing, and its largest city is Detroit. The Metro Detroit area is among the nation's most populous and largest metropolitan economies.

Although Michigan developed a diverse economy, it is widely known as the centre of the U.S automotive industry which developed as a major economic force in the early 20th century. It is home to the country's three major automobile companies (whose headquarters are all within the Detroit metropolitan area). While sparsely populated, the Upper Peninsula is important for tourism due to its abundance of natural resources while the Lower Peninsula is a centre of manufacturing, forestry, agriculture, services, and high-tech industry. As leading research institutions, the University of Michigan, Michigan State University, and Wayne State University are important partners in the state's economy.

Key industries include: Automotive, Food; ICT, Aerospace and Military Equipment, Furniture; Copper and Iron Ore Mining. The domestic auto industry accounts directly and indirectly for one of every ten jobs in the US. Drinks companies Vernors and Faygo were founded in the state and two of the top four pizza chains were founded in Michigan and still headquartered there - Domino's Pizza and Little Caesars Pizza). Detroit

Detroit is known as the automobile capital of the world with the domestic auto industry primarily headquartered in Metro Detroit. Detroit has propelled Michigan's national ranking in emerging technology Lansing fields such as Life Sciences; ICT and Advanced Manufacturing. Detroit also has a strong Architectural and Engineering industry. Ann Arbor

Key Cities Key Industries

Detroit Automotive; High-Technology; Life Sciences; ICT; Advanced Manufacturing; Construction; Health Services; Financial and Professional Services.

Ann Arbor High-Tech; Healthcare and Biotechnology Lansing Healthcare; Transport; Defence; Retail; Urban Renewal Grand Rapids Healthcare; Automobile; Aviation; Publishing; Fruit Production.

110 Sector Analysis NextGen Companies

Automotive - Michigan is the epicentre of the global automotive industry and the state is leading on Company Website MIDAS Team research in the industry, plus looking at transforming global mobility by leading connected autonomous vehicle development with ‘Mcity’ which operates the world’s first purpose-built proving ground for testing the performance and safety of connected and automated vehicles and technologies under controlled and www.duo.com realistic conditions. Other partners include the ‘American Centre for Mobility’ and Planet M. Plant M is CDT Michigan's mobility initiative representing the collective mobility efforts across the state.

Life Sciences – This sector is an important part of the Michigan economy. Even during the 2008 recession, the industry increased employment by 10.7% and as of 2017, employed more than 90,000 people at nearly https://stockx.com/ CDT 2,500 establishments. Michigan’s health care industry has a total economic impact of $65 billion per year— greater than any other industry in the state. 17% of all Michigan workers, are directly or indirectly related to or induced by the health care industry. There are 2,027 medical device companies here. www.proteanelectric.com Medical Devices - Michigan’s manufacturing strengths and the cluster of medical device companies, makes Industrial the state a key location for medical device development and manufacturing. Today, Michigan is home to more 500 medical device manufacturers, which are supported by a strong manufacturing supply chain of more than 14,000 facilities across the state. Mickledore Companies Aerospace - More than 600 aerospace-related companies are in, partly due to the fact the state is home to materials research facilities, major tooling companies and nationally ranked engineering universities. PwC Company Website MIDAS Team has ranked the state as a top 10 state for aerospace manufacturing. www.cadencerecycling.com Industrial ICT - Since 2009, ICT job growth in Michigan has outpaced the nation. Leading this trend are Michigan’s technology clusters (SmartZone’s) that synergise the assets of technology-based firms, entrepreneurs and researchers to help commercialise emerging IT technologies. www.Mortenson.com Industrial

Cyber Security - The state’s cyber initiative is one of the world’s first comprehensive state-level approach to http://wolterskluwer.com/ cyber. The Michigan Cyber Range offers a secure, unclassified environment to conduct ethical hacking and FPS penetration testing. www.fireeye.com Carbon Fibre/Composite Materials - Michigan has a growing carbon fibre and lightweight composite CDT materials manufacturing sector through research facilities such the ‘Lightweight Innovations for Tomorrow’ www.gigamon.com and Institute for Advanced Composites Manufacturing Innovation CDT

www.pkware.com Agribusiness – this is Michigan’s second largest industry, and second in diversity only to California. The CDT state ranks first in milk production is home to Grey Poupon mustard. www.exosite.com CDT

www.fitnessondemand247.com Life Sciences

11121 Ecosystem Spotlight: Plug & Play Automotive Accelerator Fastest Growing Company News

In early 2020, Silicon Valley innovation platform Plug & Play announced they were opening a new News innovation hub in downtown Detroit. Plug and Play are partnering with Fiat Chrysler Automobiles and the • July 2019: Fastest Growing Companies Michigan https://www.crainsdetroit.com/special-report/fast-50-2019- Michigan Minority Supplier Development Council to focus on innovation in automotive mobility. southeast-michigans-fastest-growing-companies

Plug and Play, sought to launch its platform in Detroit and in 2019, recruited Fiat Chrysler to sponsor the • USMCA will boost Michigan economy and jobs https://eu.detroitnews.com/story/opinion/2019/07/11/opinion- hub and the partnership will give the company access to developing technologies. As automated driving, usmca-boost-michigan-economy-and-jobs/1677680001/ electrification and connectivity reshape the automotive industry, access to Plug and Play's ecosystem will accelerate FCA's approach to research and development. • Fastest Growing Companies Detroit - http://www.blmcompetitivenessperformancetracker.com/fastestgrowing- companies The organisation joins other programs in Detroit designed to develop start-ups and bring tech companies from around the globe to the city such as TechStars Detroit and its Detroit Start-up Week. The University of • 2020 Fastest Growing Companies in Detroit https://growjo.com/city/Detroit Michigan also is building an innovation centre which will feature a 190,000 sq ft research and graduate education building for students in automotive mobility, artificial intelligence, sustainability, cybersecurity, • Fastest Growing Companies South Michigan https://www.stoneridge.com/wp-content/uploads/2019/07/Fast- financial technology and other tech fields. 50-2019-Southeast-Michigans-fastest-growing-companies.pdf

• July 2018: Detroit – five years on from Bankruptcy • https://www.forbes.com/sites/petesaunders1/2018/07/19/detroit-five-years-after-bankruptcy/

Existing Greater Manchester Links

• MIDAS have met CARS, the automotive trade association during a SXSW visit so have contacts there.

11221 Collaboration Partners

Organisation Description Sector Organisation Description Sector

Michigan Development Corporation Economic Development Corporation General Michigan Government Publics sector services body Government https://www.michiganbusiness.org/ https://www.michigan.gov/som/0,4669,7-192- 78403_78404---,00.html Detroit Chamber of Commerce Chamber of Commerce General Tech Town Detroit Helps tech start-ups and local businesses Tech https://www.detroitchamber.com/ launch and grow https://techtowndetroit.org/about/ Michigan Auto Promotes, Michigan’s auto industry Auto

https://michauto.org/ Michigan Manufacturers Association Trade association for manufacturing Industrial sector www.mimfg.org PlanetM Partnership of organisations, working Auto develop and deploy mobility https://www.planetm.com/why-michigan/ technologies Michigan Energy Innovation Business Council The business voice of advanced energy Industrial in Michigan Centre for Automotive Research CAR’s mission is to conduct research Auto www.mieibc.org on critical issues facing the https://www.cargroup.org/ automotive industry Michigan Electric and Gas Association Trade association supporting the electric Industrial and gas utilities sectors Michigan Tech Research Institute Research in natural and human- Tech www.megautilities.org made environments. https://mtri.org/ MichBio Industry body supporting Michigan’s Life Sciences University of Texas Leading the transformation to Academia bioscience sector connected and automated vehicles www.michbio.org https://mcity.umich.edu

National Superconducting Mission to make scientific discoveries Academia Health Care Association of Michigan Trade association supporting the health Life Sciences Cyclotron Laboratory about the inner workings of atoms care sector https://www.nscl.msu.edu/ www.hcam.org

Michigan Cyber Range Aims to strengthen Michigan’s cyber Cyber Michigan Health Council Industry body for Michigan’s health care Life Sciences defences sector https://www.merit.edu/cyberrange/ www.mhc.org

11321 Key Headquartered Companies Washington State

Economic Summary

Washington is a state in the Pacific Northwest of the US. Olympia is the state capital and the largest city is Seattle. Key sectors include Biotechnology; Aerospace; ICT; Maritime; Agriculture and Food Manufacturing; Green Tech; Defence; Maritime and Forest Products. Washington is a leading lumber producer. Its rugged surface is rich in stands of various trees and woods. The state is the U.S's largest producer of apples, hops, pears, red raspberries, spearmint oil, and sweet cherries, and ranks high in the production of apricots, asparagus, dry edible peas, grapes, lentils, peppermint oil, and potatoes. Livestock and livestock products make important contributions to total farm revenue, and the commercial fishing of salmon, halibut, and bottomfish makes a significant contribution to the state's economy. Washington ranks second only to California in the production of wine.

Manufacturing industries in Washington include aircraft and missiles, ship-building, and other transportation equipment, lumber, food processing, metals and metal products, chemicals, and machinery. Washington is Seattle one of the wealthiest states in the country and has a relatively strong economy placing it 10th in the nation and growing by 5.7% per year—the fastest rate in the United States. Other significant industries within the state include the design and manufacture of aircraft (Boeing), Software Development; Electronics; Olympia Biotechnology; Aluminium Production; Lumber and Wood Products; Mining; Beverages; Real Estate; Retail and Tourism A Fortune magazine survey of the top 20 Most Admired Companies in the U.S has four Washington- based companies: Amazon, Starbucks, Microsoft, and Costco. Seattle a seaport city on the west coast and in 2016 was the fastest-growing major U.S city, Seattle's economy is driven by a mix of older industrial companies, and "new economy" Internet and technology companies, service, design, and clean technology companies. Logging was Seattle's first major industry, then became a commercial and shipbuilding centre. Growth after WWII was due to local Boeing which established in Seattle as a centre for aircraft manufacturing.

AsKey of Cities2016, Seattle was Keyhome Industries to six fortune 500 companies, such as Amazon, Starbucks and four more are located in the metropolitan area: Costco; Microsoft, Paccar and Expedia Seattle Retail and ecommerce; High Technology, Green Technology; Gaming; Biotechnology, Financial Services and Insurance; Design; Consulting; Food & Drink; Healthcare, PR and Publishing; Real Estate and Architecture; Leisure; Transportation.

Olympia Arts and Entertainment.

114 Sector Analysis NextGen Companies

Technology - Washington State’ is a world leader for ICT and the birthplace of Microsoft, Amazon, F5 Company Website MIDAS Team Networks, Zillow and Expedia. There are more than 12,000 ICT companies in the state which has particular strengths in Gaming; Software Engineering; Blockchain; AR and VR; A.I and Cloud Computing. Washington’s gaming ecosystem has 300+ companies, from Valve and Microsoft (Xbox) to Popcap, Bungie and Big Fish. Together, these companies command nearly a fifth of the world’s direct revenue in gaming. www.offerupnow.com FPS Combined with strengths in traditional gaming, such as Magic, Pictionary and Cranium, the state is a dominant player in the traditional and digital gaming spaces. Seattle developed into a technology centre http://www.98point6.com Life Sciences from the 1980s onwards and houses Microsoft and Amazon. The stream of new internet, software and biotechnology companies led to an economic revival. https://www.arivale.com Life Sciences Biotechnology - In 2006 the city announced a desire to spark a new economic boom driven by the biotechnology industry. Major redevelopment of the South Lake Union district took place to attract biotech www.cardiacdimensions.com Life Sciences companies joining firms such as Corixa (acquired by GSK); Immunex (now part of Amgen), Trubion and ZymoGenetics. Seattle is a hub for global health with the headquarters of the Bill and Melinda Gates Foundation, PATH; Infectious Disease Research Institute; Institute for Health Metrics and Evaluation. In www.nohlatherapeutics.com Life Sciences 2015, the Washington Global Health Alliance counted 168 global health organizations in Washington state. Many are headquartered in Seattle. www.spaceflightindustries.com Life Sciences Green Tech – The state is the nation’s low-cost energy leader with 75% of power coming from an extensive hydroelectric grid, drawing renewable energy from the state’s abundant water supply. Key strengths are alternative and renewable energies, pollution reduction, power storage and grid management. R&D is in https://www.upgradedself.com Industrial the development of highly-efficient integrated storage battery systems that can store wind and solar energy; the use of computational science to improve power grid management; and the utilisation of low- value plant biomass to produce biofuels and other bioproducts in an environmentally and economically viable manner. Key research labs are at the , Washington State University and http://glowforge.com Industrial Pacific Northwest National Laboratory – one of only 10 such federal laboratories in the U.S which continue to find new ways to solve the complex issues of energy production, storage, conservation and Mickledore management. Seattle remains a hotbed for start-up businesses, especially in green building and clean www.auth0.com CDT technologies. It was ranked as America's No. 1 "smarter city" based on its government policies and green economy. In 2010, the city government committed Seattle to become North America's first "climate neutral" city, with a goal of reaching zero net per capita greenhouse gas emissions by 2030. www.avalara.com CDT

Aerospace – For 100 years Washington State has been at the forefront of innovation in the aviation and http://www.baishancloud.com CDT aerospace industry, designing and building commercial and military aircrafts, unmanned aerial systems and space exploration vehicles. 1,400 aircraft and unmanned aerial systems are produced annually, manufacturing nearly 90% of all commercial aircraft in the U.S. In Renton, five 737s roll out of the Boeing https://convoy.com CDT plant every two working days. The state is anchored by Boeing and the company has turned out tens of thousands of aircraft from its Washington factories – including every 737, 747, 757, 767 and 777 ever built, plus the vast majority of 787 Dreamliners. The next generation 777X is also being built in the state. www.dreambox.com CDT Washington also has a rapidly growing space cluster, featuring visionary firms as Aerojet Rocketdyne, Blue Origin, Kymeta, Spaceflight Industries and SpaceX. Over 1,400 aerospace-related companies are in the ecosystem, serving as the supply chain for every major aircraft manufacturer and air carrier in the world. www.orbbec3d.com CDT

11521 NextGen Companies Ecosystem Spotlight: Alexa Accelerator, Seattle NextGen Companies Company Website MIDAS Team The Alexa Accelerator, powered by TechStars, is a start-up accelerator created by the $200m Alexa Fund that started in 2015 and built around the belief that voice will fundamentally improve the way people interact with technology. Companies are chosen through a rigorous selection process to take part in a 13-week program in Seattle to work with technologists and product leaders from Amazon and TechStars. www.remitly.com CDT The first cohort honed in on games and interactive experiences, while the second cohort was largely focused on more practical applications, such as water conservation and accessibility). Over the course of six months, they narrowed down www.rover.com CDT the list of applicants to nine companies that address challenges in retail, management, education, gaming, and a raft of related segments. Areas focus areas for innovation include grocery shopping and recipes, augmented reality, executive coaching, health care, fitness and wellness, enterprise collaboration and productivity, property tech, and machine www.skytap.com CDT learning services verticals.

www.smartsheet.com CDT

https://vicis.com CDT Fastest Growing Company News

www.outreach.io • Seattle Business - 131 Washington State companies make 2020 Inc 5000 list CDT https://seattlebusinessmag.com/blog/131-washington-companies-are-inc-5000-fastest-growing-companies

www.qumulo.com CDT • Puget Sound Business Journal – Washington’s fastest growing private companies https://www.bizjournals.com/seattle/subscriber-only/2019/10/25/washingtons-fastest-growing-private.html https://www.yunshipei.com/ CDT • Growjo – Fastest growing companies in Seattle https://growjo.com/city/Seattle Mickledore Mickledore Companies • November 2019 – 20 Seattle-area tech companies CNBC and Deloitte fast-growing lists https://www.geekwire.com/2019/20-seattle-area-tech-companies-made-cnbc-deloittes-new-rankings/ Company Website MIDAS Team Existing Greater Manchester Links

• Low Carbon collaboration with Seattle www.thycotic.com CDT • Autumn 2019 – David Hilton from MIDAS led visit to Seattle

• Washington state IPA http://choosewashingtonstate.com/why-washington/our-key-sectors/ www.microsoft.com CDT

11621 Collaboration Partners

Organisation Description Sector Organisation Description Sector

Association of Washington Business AWB serves a the state’s chamber of Various Experience Washington the State The official travel and tourism website for Tourism commerce and the manufacturing www.experiencewa.com the state of Washington www.awb.org and technology association Industrial Washington Tourism Alliance Membership-based industry body for the Tourism Washington Chamber of Commerce Statewide trade association for Various tourism sector Executives chamber executives www.watourismalliance.com

www.wcce.org Washington Technology Industry Association Trade association for tech industry Tech

Washington State Department of Works with local governments, Public sector www.washingtontechnology.org Commerce businesses and civic leaders to strengthen communities across the British-American Business Connections Pacific Regional business network promoting Various www.commerce.wa.gov state Northwest transatlantic business relations across Washington State Washington Retail Association Statewide industry body for retail Retail/various www.babcpnw.org sectors www.washingtonretail.org Washington Economic Development Association Statewide trade association focused on Various economic development Washington Automotive Industry Trade association for the automotive Industrial www.wedaonline.org Association industry Washington Food Industry Association Trade association for F&B sector and F&B www.washingtonautomotive.org suppliers www.wa-food-ind.org Northwest Marine Trade Association Organisation advocating for the Industrial regional marine services industry Pacific Northwest Aerospace Alliance Regional trade association for aerospace Industrial www.nmta.net industry www.pnaa.net Enterprise Washington Statewide trade association Public sector CleanTech Alliance Statewide trade association for Clean Clean Tech / www.enterprisewashington.org Tech-related industries Industrial www.cleantechalliance.org Choose Washington Statewide economic development Public sector agency/invest promotion agency Life Science Washington Trade association for life sciences and Life Sciences www.choosewashingtonstate.com biotechnology sectors www.lifesciencewa.org The Washington Small Business Statewide trade association focused Various Development Center on SMEs Bill & Melinda Gates Foundation Private philanthropic foundation with a Philanthropy focus on healthcare and poverty www.wsbdc.org www.gatesfoundation.org eradication

11721 Key Headquartered Companies Ohio

Economic Summary

Ohio is a Midwestern state in the Great Lakes region of the US. The state's capital (and largest city) is Columbus. Ohio rose from a wilderness plain to an industrial powerhouse in the 20th century before transitioning to a more information and service based economy in the 21st. As an industrial state, Ohio ranks 8th out of 50 states in GDP and is the second largest producer of automobiles behind Michigan. It is commonly noted as the ‘Nation's Industrial Capital’, dating to its roots in the Rust Belt and its present-day intelligence and scientific dominance. Toledo Cleveland Key industries include: Automotive; Manufacturing; Biosciences & Healthcare; Aerospace & Defence; AgriTech; Education; Financial Services and Insurance; Iron and Steel; Rubber and Plastics; Energy. The manufacturing and financial service sectors each comprise of 18% of the states GDP, making them Ohio's largest industries by % of GDP. Ohio has the third largest manufacturing workforce behind California and Texas and the largest bioscience sector in the Midwest. The state is a national leader in the green economy and also the largest Columbus producer in the country of plastics, rubber, fabricated metals, electrical equipment, and appliances. By Dayton employment, Ohio's largest sector is Trade; Transportation; Utilities followed by Health Care, Government and Education. According to a 2017 IMF report, Ohio’s economy would nominally would be the 21st largest global economy behind Saudi Arabia and ahead of Argentina. Ohio was one of four US states to have areas make Cincinnati the ‘Intelligent Community Forums’ list of ‘Global Smart 21 Communities five years ago, the highest credit going to Columbus. Ohio has 5 of the top 115 colleges in the nation and is considered a centre of science and industry. Ohio has been recognised internationally as the "Fuel Cell Corridor", while Toledo is recognised as a national solar centre. Cleveland is known as a Regenerative Medicine research hub, Dayton an Aerospace and Defence and Akron as the rubber capital of the world. Columbus a technological R&D hub and Cincinnati a mercantile hub. 70% of the US’s electrometallurgical ferroalloy manufacturing employees are located in Ohio.

Key Cities Key Industries

Columbus Technology; R&D; Aviation; Financial Services – Banking & Insurance; Fashion; Food & Drink; Healthcare; Logistics; Manufacturing; Medical Research; Energy; Retail

Cincinnati Mercantile; Manufacturing; Insurance; Education; Health; Transport Dayton Aviation; Aerospace & Defence, R&D,, Healthcare Toldeo Clean Tech – Solar Industries; Glass (known as Glass City)Automotive Cleveland Life Sciences; Healthcare - Regenerative Medicine; Banking; Insurance;

119 Sector Analysis NextGen Companies

Aerospace & Defence - The state's aerospace industry produces an annual economic impact of more than Company Website MIDAS Team $8 billion. Wright Patterson Air Force Base makes a $5 billion impact on the state and NASA Glenn Research Centre brings in another $1.3 billion. Dayton is designated as the state's aerospace hub due to its https://joinroot.com high concentration of aerospace and aviation technology. In 2009, Dayton was designated as Ohio's FPS aerospace innovation hub, the first such technology hub in the state. Aircraft engine manufacturing accounts for nearly 75% of Ohio's aerospace and defence industry workforce. Ohio ranks fifth among US states in the production of aerospace products and parts. Key sub-sector strengths are aircraft engine manufacturing sub-sector. Defence systems play a smaller role in the industry but a number of domestic Mickledore Companies and international companies are here. Last year, Ohio corporations were awarded $5.5 billion of US State Department of Defence contracts. The Joint Systems Manufacturing Centre in cooperation with General Dynamics, assembles armoured combat vehicles. Company Website Team

Biosciences & Healthcare - Ohio has the strongest biosciences cluster in the Midwest and 4th in the nation. www.cecoenviro.com Industrial The state has 3,300 organisations manufacturing products and providing essential services or researching the next breakthroughs. Core sub sectors strengths include Medical Testing, Medical Devices; Pharmaceuticals and Therapeutics; Agri- Biotechnology. Ohio had three city-regions in the top 30 biotech www.invacare.com/ Life Sciences locations in the country, with Cleveland-Akron ranked #20, Columbus #22, and Cincinnati #28. The overall economic impact of the bioscience industry in Ohio, including healthcare, amounted represents 15.7% of Ohio's economic output. Half of the biotech industry is located in northeast Ohio, with 574 firms, while www.Braider.com Industrial central and southern Ohio are home to around 200 each. 635 companies are FDA-certified to manufacture medical devices. Young and growing companies include Abeona Therapeutics; Enable Injections and ExonanoRNA. www.progressive.com/ FPS Energy - The energy sector of Ohio is composed of thousands of companies and cities representing the oil, natural gas, coal, solar, wind energy, fuel cell, biofuel, geothermal, hydroelectric, and other related industries. Ohio is second nationally in solar energy industry manufacturing as Toledo is considered a national solar hub, nicknamed "Solar Valley." The state is recognized internationally as the "Fuel Cell Corridor".

Rubber and Plastics - The industry is largely dominated by Goodyear Tyre and Rubber in terms of revenue, although there are more non-rubber producing Fortune 500 rubber and plastics companies in Ohio than Ohio Fortune 500 rubber and plastics companies that do produce rubber. Ohio ranks 1st of all 50 states in rubber and plastics production. Eight Fortune 1000 rubber and/or plastics corporations are in Ohio.

Steel and Iron - Ohio is considered one of the historical centres of steel production in the US. The largest steel foundry in North America is located in Columbus and the state produces between 14% and 17% of the United States' raw steel. 70% of the US’s electrometallurgical ferroalloy manufacturing employees are located in Ohio. There are three Fortune 500 iron and steel manufacturers with world headquarters in Ohio AK Steel, Timken and Worthington Industries

Automotive - Northeast Ohio has housed many auto assembly and auto parts plants since the early 20th century because of easy access to steel, glass, and rubber.

12021 Ecosystem Spotlight: The National Centre for Regenerative Medicine Fast Growing Companies News

The National Centre for Regenerative Medicine (NCRM) is a platform to facilitate translational research, • Growjo 10000 – fastest growing companies in Ohio clinical application, and commercialisation of regenerative medicine, tissue engineering, and stem cell https://growjo.com/state/OH therapeutics across a consortium of institutions. NCRM is driven by four nationally ranked, medical research powerhouses, Case Western Reserve University, Cleveland Clinic, University Hospitals Cleveland Medical • August 2019 Inc 5000 – all Ohio companies: Centre and Ohio State University. Through this network of researchers and clinicians, research discoveries https://www.inc.com/inc5000/2019/top-private-companies-2019-inc5000.html?state=ohio are actively being translated into cell-based therapies for patient care. 11 companies from Northwest Ohio named: NCRM is leading the way in Northeast Ohio in the following areas: 1) Regenerative medicine and stem cell https://www.toledoblade.com/business/development/2019/08/15/area-firms-named-inc-magazine-fastest- research 2) Cellular manufacturing 3) Clinical trials for cellular therapeutics. The National Centre for growing-companies-business/stories/20190814163 Regenerative Medicine supports investigators conducting innovative research translating into cell-based therapies and technologies. NCRM’s comprehensive "bench-to-bedside" approach requires partnering with • Columbus Region’s Fast 50 – 50 fastest growing companies in Central Ohio: researchers and institutions to support programs in the areas of: Basic research; Clinical research; https://columbusregion.com/news-events/fast-50-the-fastest-growing-companies-in-central-ohio-columbus- Biomedical/tissue engineering research. business-first/

• Crain’s 2019 52 fastest growing companies in Northeast Ohio: https://www.crainscleveland.com/data-lists/37071/crains-52-fastest-growing-companies

• October 2019 – Columbus Business First Fast 50 Ohio list: https://www.bizjournals.com/columbus/news/2019/10/24/find-out-which-of-the-fast-50-are-the-fastest- and.html Existing Greater Manchester Links

12121 Collaboration Partners

Organisation Description Sector Organisation Description Sector

Ohio Chamber of Commerce Statewide leading business advocate Various Ohio Manufacturers’ Association Trade association for manufacturing Industrial and trade association sector www.ohiochamber.com www.ohiomfg.com

Ohio Economic Development Association Statewide economic development Public sector Green Energy Ohio Statewide organisation promoting Industrial / agency sustainable energy policies and Clean Tech www.ohioeda.com www.greenenergyohio.org technologies and supporting the industry

Ohio Development Services Agency Economic development organisation Public sector PolymerOhio Membership organisation for plastics Industrial sector and related industries www.development.ohio.gov www.polymerohio.org

Ohio Structural Steel & Architectural Metals Trade association for steel & iron Industrial TourismOhio Statewide official tourism agency Tourism Association industries www.ohio.org www.ohiosteelassn.org Ohio Society of Association Executives Trade association and networking Various Ohio Automobile Dealers Association Political, economic and educational Industrial organisation association for automotive industry www.osae.org www.oada.com

Ohio Contractors Association Trade association for heavy industrial Industrial Ohio Tire & Automotive Association Trade association for automotive and Industrial industries related industries www.ohiocontractors.org www.ohiotire.org The Ohio Council of Retail Merchants Trade organisation for Ohio’s retail and Various BioOhio Trade association for bioscience Life Sciences wholesale industries community www.ocrm.net www.bioohio.com Ohio Defence Industry Association Trade association for Ohio’s defence Industrial Ohio Venture Association Entrepreneurs’ ecosystem and Various industry network www.ohiodefenseindustry.com www.ventureohio.org Ohio Aerospace & Aviation Council Regional trade association for aerospace Industrial Ohio Oil and Gas Association Trade association for oil and gas Industrial and related industries sector www.ohioaerospaceindustry.com www.ooga.org

12221 Key Headquartered Companies Maryland

Summary

Maryland is in the Mid-Atlantic region of the United States, the largest city is Baltimore and its capital is Annapolis. The state has a highly diversified economy spanning manufacturing, services, higher education, and biotechnology. Maryland's economy benefits from the state's close proximity to the federal government in Washington DC with an emphasis on technical and administrative tasks for the defence/aerospace industry and bio-research laboratories, as well as staffing of satellite government headquarters in the suburban Baltimore/Washington area. Ft. Meade serves as the headquarters of the Defence Information Systems Agency, U.S Cyber Command and the NSA/Central Security Service. In addition, several educational and medical research institutions are located in the state. The various components of The Johns Hopkins University and its medical research facilities are now the largest single employer in Baltimore. Manufacturing, Baltimore while large in dollar value, is highly diversified with no sub-sector contributing over 20% of the total. Typical Annapolis forms of manufacturing include Electronics, Computer Equipment, and Chemicals. The once strong metals sub-sector still exists, but is pressed with foreign competition. Mining other than construction materials is limited to coal, which is in the mountainous western part of the state.

Baltimore is a major centre of transportation, centred on the Port and its related rail and trucking access. The port also receives several different brands of imported motor vehicles and is the number one auto port in the US. Baltimore City is the eighth largest port in the nation. The state as a whole is heavily industrialised, with a booming economy and influential technology centres. Its computer industries are some of the most sophisticated in the US and the federal government has invested heavily in the area. Maryland is home to several large military bases and scores of high-level government jobs.

Key Cities Key Industries

Baltimore Transportation/Ports; Services; Science & Technology; Engineering; Manufacturing; Construction; Trade, Transport and Utilities; ICT; Financial and Professional Services; Education and Healthcare

Annapolis Manufacturing; Trade, Transportation and Utilities; ICT; Financial and Professional Services; Education; Health; Construction and Mining

123 Sector Analysis NextGen Companies

Aerospace & Defence - Maryland is a key centre for innovation in innovations in space exploration, environmental science, and severe-weather forecasting, as well as Department of Defence–related fields Company Website MIDAS Team such as biodefense, cybersecurity, avionics, informatics, and weapons and ordnance testing. The state is home to 15 of the top 20 aerospace & defence companies. Maryland has 350 research centres, 20 military facilities and 60+ federal agencies. These support chemical and biological defence R&D, military intelligence, cybersecurity, and more. Walter Reed National Military Medical Centre is the nation’s largest of its kind, and Fort George G. Meade is Maryland’s biggest employer. The state also tops in total federal http://www.aledade.com obligations (per capita) for R&D t $15.4 billion. Industry giant Lockheed Martin has its headquarters in the Life Sciences state, while both Northrop Grumman and Booz Allen Hamilton are located there.

Cyber Security - Critical security agencies, including the US. Cyber Command, NSA, DISA and NIST are based in Maryland home.

Advanced Manufacturing - Of Maryland’s thousands of manufacturing companies, 60% are advanced and what is new is the advanced materials, innovative processes, and modern machinery companies use to http://nextcure.com/ Life Sciences produce high-mix, low-volume, high-tech products. This is achieved through autonomous systems, medical devices, sensors and other electronics, and capital equipment.

Agribusiness – Maryland has small, traditional family farms to larger corporates. From microbreweries to major bakeries and artisanal cheese makers to the world’s leading spice maker. Agriculture, forestry, fishing, and hunting together contribute $2.2 billion in products sold. More than 12,250 farms dot the state of Maryland which generate three times the national average in sales per acre, and are more valuable per www.ironnetcyber.com CDT acre than the average US farm. Produce is corn and soybeans and also forest products - wood for homebuilding, furniture, and paper, make up the fifth largest industry in the state. Perdue Farms, on the Eastern Shore, is the nation’s third-largest poultry producer, leading Maryland’s billion-dollar poultry industry. Mickledore Companies Bioscience - Maryland was first to map the human genome, develop a rapid test for Ebola and create an FDA-approved blood test for colon cancer. The region continues to climb on GEN’s annual ranking of the nation’s top 10 biopharma clusters and was ranked fourth in 2019. Key strengths include Biopharma and Company Website MIDAS Team biodefense; Genomics and therapeutics. Diagnostics and Medical Devices; Neutraceuticals and vaccines. Personalised and Regenerative Medicine and Health IT. Maryland leads the world in adult stem cell production and vaccine research and development. 20%rcent of the world’s top influencers in vaccine development are in Maryland and healthcare expertise and an innovative culture have made the state a leader in Health IT and medical device development. The state is home to one of the largest life sciences clusters in the nation, with 500+ biotech firms, 2,700 life sciences companies, the NIH, the FDA, Johns Hopkins University, and the University of Maryland. The state government is a key player in a host of initiatives to drive growth in biohealth and life sciences. www.geico.com/ FPS

Financial Services - Maryland’s financial services goes back when Alex Brown was established in Baltimore, becoming the first investment bank in the USA. Today, Baltimore is home to financial powerhouses such as T. Rowe Price and Legg Mason. These are 8,380 financial services firms in total.

12421 Ecosystem Spotlight – Maryland Cybersecurity Centre Fastesthttps://open.maryland.gov/industries/ Growing Company News The Maryland Cybersecurity Centre (MC2) was created in 2010 and is an academic centre on the University News of Maryland campus that brings together faculty, researchers, and students working in the field of • Aug 2019: 130 Fastest Growing Companies In Maryland https://patch.com/maryland/towson/here-are-130- cybersecurity from several schools and departments across campus. The centre is close to the nation’s fastest-growing-companies-maryland capital which enables close interaction with federal agencies. It is also within the Maryland-DC-Virginia region -- one of the leading areas in the country for cybersecurity innovation. The centre has a three-fold • 2019: INC names fastest growing companies in Maryland https://open.maryland.gov/blog/inc-5000-names- mission focusing on research, education, and outreach. marylands-fastest-growing-companies-2019/

MC2 is unique in its comprehensive, interdisciplinary approach to cybersecurity, in that it brings together • Fastest growing companies Baltimore https://www.bizjournals.com/baltimore/news/2019/10/01/these-are- not only faculty with expertise in the core areas of computer science and electrical engineering but also greater-baltimores-50-fastest-growing.html those with backgrounds in economics, social sciences, human-computer interaction, and other areas of engineering. The centre has particular strengths in cryptography, programming-language and software • Key Growth Industries https://open.maryland.gov/industries security, behavioural aspects of security, empirical security, and cybersecurity economics. It ranks among the top 20 public research universities in the nation, with top-ranked departments in computer science and electrical and computer engineering.

NSA has designated the University of Maryland as a National Centre of Academic Excellence in Information Assurance Research, and the university was also named an Intelligence Community "Centre of Academic Excellence" by the Department of Homeland Security.

MC2 facilitates a wide variety of educational opportunities on the campus. At the undergraduate level, UMD is home to ACES, the nation's only undergraduate honours program focusing on cybersecurity. Students majoring in computer science or electrical and computer engineering have access to numerous Existing Greater Manchester Links courses in cybersecurity, and can obtain a specialisation in the area.

The Corporate Partners' Program enables leading companies to collaborate with faculty and have the benefit of their expertise. Corporate partners also have exclusive access to student recruiting at both the • Hannah Tracey and Phil Swan developed links from US visit in 2019 undergraduate and graduate levels. MC2 is actively engaged in outreach to the broader community through public events such as the annual symposium and lecture series, as well as through their • GM should develop discussions on cyber collaboration educational outreach programs mentioned above. They also work with standards bodies, policy makers, and legal experts, contributing technical expertise to help them make their decisions.

Details on the annual symposium can be found here http://cyber.umd.edu/events/symposium

12521 Collaboration Partners

Organisation Description Sector Organisation Description Sector

Maryland Economic Development IPA – Trade and Investment Body Public Sector Baltimore Development Corporation City trade and investment body Public Sector

https://medco-corp.com/ http://baltimoredevelopment.com/why- baltimore/economic-profile/ NSA Government surveillance agency Cyber Baltimore Chamber of Commerce City Membership Association Public Sector https://www.nsa.gov/ https://baltimorecitychamber.org/

Cybersecurity Centre of Excellence Centre of Academic Excellence in Cyber Maryland Tech Council Trade Association Tech Information Assurance http://www.cyber.umd.edu/about https://mdtechcouncil.com/

National Institutes of Health Research Centre Health Baltimore Technology Tech Trade Association Tech

https://www.nih.gov/ https://www.bmoretechnology.com/

Johns Hopkins University World renowned medical research Academia Greater Baltimore Committee Business Advocacy Organisation Tech

https://www.jhu.edu/ https://gbc.org/ Maryland Life Sciences Advisory Board Group within the chamber of commerce Public University of Maryland Research strengths in tech, cyber Academia and life sciences https://commerce.maryland.gov/media/governo https://www.umd.edu/ r-hogan-appoints-new-members-to-maryland- life-sciences-advisory-board NASA’s Goddard Spaceflight Centre Major space research laboratory Aerospace Maryland Cyber Security Council Cyber group within University Cyber https://www.nasa.gov/goddard https://www.umgc.edu/administration/leadershi Maryland International Incubator Tech incubator Tech p-and-governance/boards-and- committees/maryland-cybersecurity- https://research.umd.edu/mi2 council/index.cfm

Maryland Port Administration Port Authority Public Sector MCE Innovation Catalyst/iCat Life Sciences incubator Life Sciences

https://mpa.maryland.gov www.hceda.org/maryland-center-for- entrepreneurship/icat

12621 Key Headquartered Companies Indiana

Economic Summary

Indiana is in the Midwestern and Great Lakes region of the U.S and its capital (and largest city) is Indianapolis. The state has a diverse economy and is home to the orthopaedics capital of the world and the world’s second-largest automotive industry. Other manufactures include pharmaceuticals and medical devices, automobiles, electrical equipment, transportation equipment, chemical products, rubber, petroleum, coal products and factory machinery. Indiana is a key sports state and hosts several notable athletic events, such as the Indianapolis 500. The state's five leading exports are motor vehicles and auto parts, pharmaceutical products, industrial machinery, optical and medical equipment, and electric machinery. In 2016, Indiana was Indianapolis home to seven Fortune 500 companies with Columbus-based Cummins Inc, Indianapolis-based Eli Lily and Simons Property Group. Eli Lily is the states largest corporation as well as the world headquarters of Mead Johnson Nutritionals in Evansville.

Overall, Indiana ranks fifth among all U.S states in total sales and shipments of pharmaceutical products and second highest in the number of biopharmaceutical jobs. Northwest Indiana has been one of the largest steel Columbus producing centres in the US and the state is located in an areas known as the Corn and Grain Belt. Along with corn, soybeans are also a major crop. Its proximity to large urban centres like Indianapolis and Chicago, assure dairying, egg production, and specialty horticulture occur. Other crops include melons, tomatoes, grapes, mint, popping corn, and tobacco in the southern counties. Parcels of woodland support a furniture- making sector in the south of the state. Despite its reliance on manufacturing, Indiana has been less affected by declines in traditional Rust Belt manufactures than its neighbours due to its strong skills force. Indianapolis anchors the 27th largest economic region in the U.S, based primarily on the sectors of finance and insurance, manufacturing, professional and business services, education and health care, government, and wholesale trade. The city has notable nice markets in sports and auto racing

Key Cities Key Industries

Indianapolis Biotechnology and Life Sciences and Healthcare; Financial and Professional Services; Real Estate; Manufacturing; Education; Wholesale Trade; Energy

Columbus Manufacturing and Advanced Manufacturing in Machinery/Engines; Transportation/Automotive Equipment; Paper Product; Fabricated Metals; Plastics Product; Pharmaceuticals. Plans to focus on developing Aerospace Manufacturing; Cyber Security; Defense; Engineering and R&D Services; Pharmaceutical Manufacturing

128 Sector Analysis NextGen Companies

Pharmaceuticals & Medical devices - Indiana is home to the international headquarters of pharmaceutical Company Website MIDAS Team manufacturer Eli Lily in and Evansville is home to Mead Johnson Nutritionals, a subsidiary of another large producer. Warsaw is dubbed the "Orthopaedic Capital of the World"; the Warsaw region is home to nearly one-third of the $38 billion global orthopaedic industry including Zimmer Biomet and DePuy. Other medical device companies with a presence here include swissed owned Roche Diagnostics in Indianapolis and Cook in Bloomington. https://www.freightrover.com Aerospace - Indiana has leading universities and global giants in the aerospace industry and the state has Advanced Manufacturing real strengths in breakthroughs in advanced materials and components. The state has been ranked #10 for aerospace manufacturing attractiveness by PwC. The state is home to The Institute for Advanced Composite Manufacturing, a multi-state, $259 million public-private partnership that brings together industry, universities, national laboratories and government to advance commercial deployment of advanced composites. www.Iea.net Automotive - Indiana is home to the second largest automotive industry in the nation in terms of GDP and Advanced Manufacturing production. It is also the only US single state to have auto assembly plants from Honda, Subaru and Toyota. The automotive industry is located throughout the state and comprised of 5 major OEM assembly plants and over 500 automotive suppliers.

Cybersecurity - Indiana has a unique state level cybersecurity advisory council and is known for its expertise in cybersecurity law and governance, cybersecurity for critical infrastructure/services. www.lilly.com Life Sciences Energy (Solar, Wind and Biofuels) - Indiana is becoming a leading state in the production of biofuels such as ethanol and biodiesel. Indiana now has 12 ethanol and 4 biodiesel plants located in the state. Reynolds is known as Bio Town, USA and experimenting with using biofuels and organic fuels to power the town. Tech innovation in the Midwest is driving new energy projects in Indiana. . Indiana-based Windstream Technologies is bringing affordable energy solutions to remote regions of the globe without power. The Mickledore Companies Indianapolis International Airport is home to North America’s largest airport-based solar farm. Company Website Team AgriTech – the sector has key strengths in agricultural production, processing and related activities. The state has nearly 15 million acres of farmland and a leading producer of corn, soybeans, hogs, poultry, popcorn, and tomato products. Indiana is now developing innovation in the sector, helping to fuel a revolution in precision agriculture with companies like Beck's Hybrids, Corteva, Elanco and Solinftec transforming the Corn Belt to a new Tech Belt offering data and research-driven solutions aimed at closing the global food gap. www.zimmerbiomet.com/ Life Sciences Logistics - Indiana is a global logistics leader and a national leader in pass-through interstates, home to the 2nd largest FedEx air hub worldwide, and 3rd in total freight railroads

Technology - Indiana has over 8,000 tech companies and the sector grew 7% between 2014-2017. Purdue Research Park is the largest university-affiliated incubation complex in the country which houses many high-tech companies. The state is also home to 23 Certified Tech Parks state-wide.

12921 Ecosystem Spotlight: Warsaw – Orthopaedic Capital of the World Fast Growing Companies News

In the late 19th Century state-of-the-art splints were fashioned from re-purposed barrel staves. A young • Indianapolis Business Journal – Fast 25, fastest growing companies of 2019 inventor knew there had to be a better solution. In 1985 he started his own company in Warsaw, Indiana to https://www.ibj.com/fast25-2019 make customized splints from wire and fibre. That company is DePuy Orthopaedics, a division of Johnson & Johnson. • August 2019 – Indiana tech companies included in Inc 5000 list https://techpoint.org/2019/08/2019-inc-5000-indiana-tech/ More importantly for Warsaw, Revra DePuy’s company serves as one of the anchors that make Warsaw, Indiana the Orthopaedic Capital of the World. DePuy, together with Zimmer Biomet, provides the • Growjo 10000 – Fastest growing companies in Indiana foundation for the medical device orthopaedic industry in and around Warsaw that employs an estimated https://growjo.com/state/IN 13,000 people and represents approximately 1/3 of the world’s orthopaedic manufacturing – including 60% of the world’s manufacturing of replacement hips and knees. Medtronic Sofamor Danek, Symmetry Medical, 36 Columbus companies included in the 2020 Inc 5000 list and Paragon Medical are other med device players in Warsaw, Indiana: the orthopaedic capital. All https://columbusregion.com/news-events/columbus-region-puts-36-fast-growing-companies-on-the-inc- represent the type of companies Best Technology works with on a daily basis to solve wet and dry 5000-columbus-business-first/ processing applications from passivating to electropolishing.

Existing Greater Manchester Links

13021 Collaboration Partners

Organisation Description Sector Organisation Description Sector

Indiana Chamber of Commerce Indiana’s largest trade association Various Indiana Solar Energy Industries Association Trade association for the state’s solar Industrial industry www.indianachamber.com www.seia.org

Indiana Manufacturers’ Association Indiana’s leading trade organisation Industrial for the manufacturing sector Indiana Health Industry Forum Statewide trade association representing Life Sciences www.indianamfg.com Indiana’s health science sector www.ihif.org Indiana Economic Development Statewide economic development Public sector Corporation agency focused on supporting Association of Indiana Enterprise Zones Platform of local urban enterprise Various businesses to establish or expand associations and other entrepreneurial www.iedc.in.gov across the region www.aiez.org ecosystem resources

Indiana State Teachers Association Trade organisation providing Various Indiana Tourism Association Official tourism agency of Indiana Tourism executive education and networking www.isae.org opportunities www.indianatourismassociation.com

Institute for Advanced Composites A public-private-academia Industrial Indiana Bankers Association Financial sector trade association FPS Manufacturing Innovation partnership working together to support the nation’s energy and www.Indiana.bank www.iacmi.org economic security Indiana Technology & Innovation Association Trade association for technology sector Tech Indiana University Bloomington University of Manchester Academia partner/exchange university (annual www.indianatechnology.org www.indiana.edu exchange focuses on humanities & social science disciplines) Indiana Broadband and Technology Association Trade association for technology sector Tech Indiana Energy Association Trade association for energy sector Industrial www.ibtainfo.org www.indianaenergy.org Indiana Life Sciences – BioCrossroads Organisation focused on supporting Life Sciences Aviation Indiana Trade organisation for aerospace Industrial Indiana’s life sciences and bioscience and aviation industries www.coloradostartups.org industries www.aviationindiana.com

Northeast Indiana Defence Industry Trade association for defence Industrial Indiana Cybersecurity State organisation supporting Indiana’s Tech Association industry cybersecurity sector www.in.gov/cybersecurity/ www.nidiaonline.org

13121 Key Headquartered Companies Arkansas

Economic Summary

Arkansas in the southern region of the US and its capital and most populous city is Little Rock located in the central portion of the state which acts as a hub for transportation, business, culture, and government. The north-western corner of the state, such as the Fayetteville–Springdale–Rogers Metropolitan Area and Fort Smith metropolitan area, is a population, education, and economic centre. The largest city in the state's eastern part is Jonesboro. The largest city in the state's south-eastern is Pine Bluff.

Arkansas's earliest industries were fur trading and agriculture, with development of cotton plantations in the areas near the Mississippi River. Today only 3% of the population is employed in the agricultural sector but it remains a key part of the state's economy, ranking 13th in the nation in the value of products sold. The state is the US's largest producer of rice, broilers, and turkey and ranks in the top three for cotton, pullets, and aquaculture (catfish). Forestry remains strong in the Arkansas Timberlands, and the state ranks fourth nationally in softwood lumber production. Little Rock

Automobile parts manufacturers have opened factories in eastern Arkansas to support auto plants in other Jonesboro states. Bauxite was formerly a large part of the state's economy, mined mostly around Saline County. Arkansas began to diversify its rural economy following WWII and relies on its service industry, aircraft, poultry, steel, and tourism, along with cash crops of cotton, soybeans, hogs, milk and rice. Its industrial outputs are food processing, electric equipment, fabricated metal products, machinery, and paper products. Mines in Arkansas produce natural gas, oil, crushed stone, bromine, and vanadium. Six Fortune 500 companies are based in Arkansas, including Walmart and Tyson Foods.

Key Cities Key Industries

Little Rock Agriculture; Aviation; Manufacturing; Transport; Services; ICT; Government; Healthcare; Banking; Biotechnology; Trade (mainly of Metals, soybeans, rice, chemicals, textiles, paper products, timber, and aircraft)

Jonesboro Advanced Manufacturing; Healthcare; Professional Services, Agri-Business; Logistics

132 Sector Analysis Arkansas Food & Beverage Companies

Aerospace & Defence - This sector is Arkansas’ #1 export that generated $1.5bn in export revenues in 2017 and home to 180 aerospace and defence companies that include MRO, component parts, completion centres, and defence contractors as well as the Little Rock Air Force Base. The state is also one of the nation’s fastest growing defence corridors, with companies like Aerojet Rocketdyne, Esterline, Lockheed Martin and Raytheon having a base here. The state is home to 180 Aerospace / Defence companies, including local business Dassault Falcon Jet, which has established its largest facility in the world in Arkansas, along with more national companies such as Lockheed Martin, Aerojet Rocketdyne and General Dynamics

Distribution & Logistics – Arkansas benefits from its central location and transportation infrastructure. There are 85,000 Arkansans are employed at more than 80 distribution centres and 22 major trucking companies in the state. Arkansas is home to two transportation/trucking companies on Fortune magazine's list of the largest 1,000 companies in the U.S, based on annual revenue - J.B Hunt Transport Services and ABF Freight Systems. The top 25 largest employers in Arkansas represent a wide variety of industries, 20% of those employers are in the transportation services sector, including JB. Hunt, USA Truck, FedEx Corporation, Union Pacific Railroad, PAM Transportation Services and Dillard's, Inc., which operates its only fulfilment centre out of Arkansas.

Food & Drink - Arkansas is home to Tyson Foods, one of the world’s largest food companies, and manufacturing facilities for some of the top companies in the industry, including PepsiCo, Nestle, JBS USA, Kraft Heinz, and many others. The state is also an agricultural leader, producing 49% of all the rice in the US. As of 2017, there were 341 food and beverage companies in Arkansas, employing 48,770 people. 23 of the top 25 food and beverage companies by revenue in the world have manufacturing facilities in the state. Arkansas has the second largest number of food processing workers in the U.S. Arkansas Agriculture Rankings #1 in rice production #2 for broilers #3 catfish #4 cotton and cottonseed #5 turkeys #10 grain sorghum and chicken eggs #11 soybeans Mickledore Metals - Mississippi County is one of the largest steel producing counties in the nation and has the second- largest capacity for steel production.

Software Development & Data Management - Acxiom Corporation was founded as a small data processing company in 1969 and is now a market leader and headquartered in Little Rock. It is the developer of some of the largest and most sophisticated business analytics and marketing databases in the world.

Paper and Timber - Arkansas is at the heart of this timber-rich area of the country, due to much of the state being covered by 19million acres of forestland, or more than half of the total area of the state. This is having a huge impact on the state’s economy, timber and paper products companies from around the world.

13321 Ecosystem Spotlight: Aerospace and Aviation Sector Fast Growing Companies News

Wholly-owned by Dassault Falcon DAS operates its largest service centre in the world in Little Rock. The Little • August 2019 - 11 Arkansas companies named on latest Inc 5000 list Rock Air Force Base is also located here and houses more than 12,000 personnel, including civilians, active https://www.bizjournals.com/nashville/news/2019/08/14/brentwood-companies-top-inc-5000-rankings-for- duty and Army Reserve Forces. The map below illustrates the key aerospace and aviation companies in the mid.html state

Existing Greater Manchester Links

13421 Collaboration Partners

Organisation Description Sector Organisation Description Sector

Arkansas Chamber of Commerce Arkansas’ largest trade association Various Arkansas Life Science Organisation supporting the Life Sciences development of Arkansas’ life science www.arkansasstatechamber.com www.arkansaslifescience.com industries

Little Rock Regional Chamber Chamber of Commerce for Little Various Rock Arkansas Biosciences Institute An agricultural and medical research Life Sciences www.littlerockchamber.com consortium devoted to supporting www.arbiosciences.org Arkansas’ health Jonesboro Chamber of Commerce Chamber of Commerce for Various Jonesboro Arkansas Economic Development Commission Economic development agency Public sector www.jonesborochamber.com www.arkansasedc.com

Arkansas Business Alliance Trade association supporting Various Arkansas Association for Food Protection Trade association for the food sector Industrial businesses across the state www.myaba.us www.arkafp.org

Arkansas Small Business and Technology Trade organisation supporting the Various Arkansas Grocers & Retail Merchants Trade association for F&B and related Industrial Development Center developing of SMEs across Arkansas Association industries

www.asbtdc.org www.agrma.org

Arkansas Advanced Energy Trade association for advanced Industrial Arkansas Tourism Official tourism agency Tourism energy technology-related industries www.arkansasrenewableenergyassoc.org and companies www.Arkansas.com

Arkansas Timber Producers Association Trade association for the paper & timber Industrial Arkansas Manufacturing Solutions Trade association for manufacturing Industrial industry and related industries www.arkloggers.com www.mfgsolutions.org Arkansas Forestry Association Trade association for the forestry & Industrial Association of Energy Engineers Arkansas Trade association for energy sector Industrial timber and associated industries www.arkforests.org www.arkansasaee.org

Arkansas Aerospace Trade association for the aerospace Industrial Arkansas Gas Association Trade association for gas and related Industrial and aviation sectors industries www.arkansasaerospace.com www.arkansasgas.org

13521 Key Headquartered Companies Tennessee

Economic Summary

Tennessee is a state located in the south-eastern region of the United States, it is the 36th largest and the 16th most populous of the US. Tennessee's major industries include agriculture, manufacturing, and tourism. Poultry, soybeans, and cattle are the state's primary agricultural products and major manufacturing exports include chemicals, transportation equipment, and electrical equipment.

The capital and largest city is Nashville. Memphis was the largest city in the state until being surpassed by Nashville in 2018. Major outputs for the state include textiles, cotton, cattle, and electrical power. Tennessee has over 82,000 farms, roughly 59% of which accommodate beef cattle. Large corporations with headquarters in Tennessee include FedEx, AutoZone and International Paper, all based in Memphis. As the "home of Nashville country music", Nashville has become a major music recording and production centre. The big 3 record labels, as well as numerous independent labels, have offices in Nashville, mostly in the Music Row area. Since the 1960s, Nashville has been the second-largest music production centre (after New York) in the U.S. Memphis

Memphis has historically been one of the largest shipping hubs in the Mid-South. As transportation methods developed, Memphis has continued to hold significance as a transportation hub. Now the city is home to the second largest cargo airport in the world, Memphis International Airport and the world’s busiest domestic airport. Memphis International Airport and Memphis has had huge significance in the railroad industry. The city has the 3rd largest rail centre in the U.S. behind Chicago and St. Louis. Because Memphis has been such an important city for transportation and shipping, it is attractive to businesses, especially those producing goods shipped nationwide. It has 3 Fortune 500 companies, FedEx, AutoZone and International Paper Co.

Key Cities Key Industries

Nashville Music; Entertainment; Healthcare; Publishing; Banking, Transportation

Memphis Transportation – Rail; Air and Shipping; Logistics

136 Sector Analysis NextGen Companies

Healthcare - Nashville’s health industry is a major part of the economy – it is the single largest and fastest growing employer, with an overall economic benefit of more than $46.7 billion and 270,000 jobs annually. Company Website MIDAS Team The region is home to more than 500 health care companies and 400 related professional services firms that represent diverse segments of the industry. Among these are 17 publicly traded health care company headquarters. Nashville’s health care companies generate approximately $92 billion in annual revenue www.activeimplants.com worldwide. Life Sciences

Nashville's strong health care presence dates back to the inception of HCA in 1968. Now the city is home to several publicly traded health care companies, including Community Health Systems and Tivity Health and it continues to attract health care entrepreneurs forming new businesses. https://oneoncology.com/ Life Sciences Key strengths include Health Information Technology; Long-term care; Population Health; Behavioural Health; Hospital Management and Ambulatory and Outpatient Surgery. http://smiledirectclub.com Life Sciences The states Digital Health industry is a red-hot market for M&A: Nashville-based Tivity Health’s $50m purchase of Chicago-based software company Morrisey Associates, whose products help healthcare organisations assess the performance of their clinicians and meet regulatory requirements. In the last 15years, almost $1bn has been invested in Nashville healthcare companies by venture capital firms. That's www.raretx.com about 60% of Nashville’s total venture capital investment dollars over that period. Life Sciences

Key institutions include Vanderbilt University Medical Centre which in the last couple of years received a $71.6M grant, the largest in its history, from the federal government to establish a data research centre to further an initiative to bring tailored treatment into everyday medicine. Mickledore Companies

Music & Film - Tennessee has played a critical role in the development of many forms of American popular music, including rock and roll, blues and country. Memphis is home to Sun Records, where musicians such MickledoreCompany Website Team as Elvis Presley, Johnny Cash and Roy Orbison, began their recording careers, and where rock and roll took shape in the 1950s. Nashville is now the centre of the country music recording industry in the USA. The state also has a strong film industry which the state being a major centre for TV and Film production.

Manufacturing and Agriculture – Major manufacturing products include chemicals, electrical appliances and transportation equipment. Key companies include Whirlpool, Eastman Chemicals and a number of international companies like Swedish Electrolux which has operations in the state.

The automotive industry is a key employer in Tennessee but key employers are not headquartered here, www.entradahealth.com/ Life Sciences rather have major manufacturing plants such as GM and Nissan. Agricultural goods include poultry, soybeans, and cattle.

Energy -Tennessee’s energy sector has strengths in – Nuclear; Clean Air; Renewable Energy and cleantech. There are 142 solar companies throughout the state.

.

13721 Ecosystem Spotlight: Launch Tennessee Fastest Growing Company News

Nashville has long been home to many music venues. In a similar fashion, the city’s now home to a News• 3 Brentwood companies on 2020 Inc 5000 list growing number of start-up accelerators and incubators. Scattered throughout Tennessee’s capital city, https://www.bizjournals.com/nashville/news/2019/08/14/brentwood-companies-top-inc-5000-rankings-for- these hubs are giving rise to a fresh crop of promising start-ups. mid.html

‘Launch Tennessee’ is a statewide public-private partnership with a vision to make Tennessee the most • 11 Knoxville businesses make Inc 5000 list 2019 start-up-friendly state in the nation. Partnering with Entrepreneur Centres in seven regions, LaunchTN https://eu.knoxnews.com/story/money/business/2019/08/14/which-knoxville-east-tennessee-businesses-made- creates collaboration among entrepreneurs, the private sector, capital sources, institutions, and inc-5000-2019-list/1958206001/ government to offer entrepreneurs what they need to succeed and stay in Tennessee to build companies and create jobs. • Nashville Business Journal – 2019 Fast 50 – Mid Tennessee’s fastest-growing private companies https://www.bizjournals.com/nashville/news/2019/06/20/nbj-reveals-the-2019-fast-50-middle-tennessees.html Among the big businesses Launch Tennessee connects start-up founders with to help them shift from concept to market include: Dell, Comcast, Delta, Eventbrite, IBM, JP Morgan and many others. Mentorship, Nashville Business Journal – Tennessee start-ups to watch in 2020 networking and investment opportunities are also provided by Launch Tennessee in public-private https://www.bizjournals.com/nashville/news/2020/01/23/startups-to-watch-nashville-s-next-tech-darlings.html partnership with various trade associations, such as the Tennessee Automotive Manufacturing Association and the Tennessee Advanced Energy Business Council, as well as with the Tennessee Department of • Growjo 10000 – Fastest growing companies in Tennessee 2020 Economic and Community Development. https://growjo.com/state/TN

LaunchTN Network Partners Existing Greater Manchester Links

13821 Collaboration Partners

Organisation Description Sector Organisation Description Sector

Tennessee Chamber of Commerce Multi-sector trade association. Also Various / Vanderbilt University Summer Business Institute A four-week certificated business school Academia serves as the Tennessee Industrial programme for college students and www.tnchamber.org Manufacturers Association. http://www.owen.vanderbilt.edu/admissions/acc graduates elerator-admissions/ Nashville Area Chamber of Commerce Trade association for middle Various Tennessee region Jumpstart Foundry Accelerator for healthcare sector startups Life Sciences www.nashvillechamber.com and established businesses www.jsf.co Tennessee Department of Economic & Statewide economic development Public sector Community Development agency Nashville Business Incubation Centre Business support association supporting Various small business owners www.tnecd.com They have a trade and investment www.nbiconline.com representative based in Manchester – Adam Breeze Nashville Entrepreneur Centre Organisation connecting entrepreneurs Various with networks and resources https://www.linkedin.com/in/adambr www.ec.co eeze/

Tennessee Economic Development Council Statewide organisation supporting Industrial TN Solar Energy Industry body for solar energy sector Industrial industrial development across www.tnedc.com Tennessee www.tnsolarenergy.org

Official Tennessee Dept. of Tourism Official state tourism agency Tourism Tennessee Advanced Energy Business Council Trade association championing Industrial Tennessee’s advanced energy economy www.tnvacation.com www.tnadvancedenergy.com

Tennessee Manufacturers Association Trade association for manufacturing Industrial sector www.tnmfg.org Life Science Tennessee Trade association for Tennessee’s life Life Sciences science industry Made in Tennessee Industry body for manufacturing Industrial www.lifesciencetn.org sector www.madeintn.org

Tennessee Automotive Manufacturers Trade association for automotive Auto Tennessee Health Care Association Trade association for the health care and Life Sciences Association sector related sectors www.thca.org www.tennauto.org

13921 Appendix II: Next30 States

1401 Next30 US States

Having analysed the T20 U.S states to focus on, this supplementary page contains information about the major corporations headquartered in the ‘Next30’ states

State Sectors Key Companies State Sectors Key Companies

District of Columbia Government, Legal, Defence, Lobbying Mississippi Agriculture, Textiles, Electronics

Wisconsin Dairy, Manufacturing, IT New Mexico Tourism, Military, Oil and Gas

Minneapolis MedTech, Electronics, Food Processing Idaho Manufacturing, HealthCare, Food

Kansas Oil & Gas, Manufacturing, Utilities Nebraska Healthcare, IT, Retail

Connecticut Aerospace, Bioscience, CleanTech West Virginia Chemicals, Biotech Aerospace

Hawaii Tourism, Manufacturing, Services Delaware Chemicals, Rubber and Plastics

Oregon Advanced materials, Tech, Apparel New Hampshire Travel and Tourism

Missouri Agriculture, Aerospace, Chemicals Vermont Manufacturing, Agriculture, Mining

Louisiana Oil, Natural Gas, Chemicals South Dakota Agriculture, Mining, Manufacturing

South Carolina Aerospace, Automotive, Biotechnology Oklahoma Aerospace, Defence, Bios, Energy

Utah Manufacturing, IT, Petroleum Arizona Aerospace, Electronics, Semiconductors

Iowa Renewables, Advanced Manufacturing Alaska Energy – Oil and Gas

Maine Services, Manufacturing, Shipbuilding Alabama Chemicals, Tech, Automotive

Kentucky Manufacturing. Logistics, Mining North Dakota Agriculture, Tourism, Transport

Nevada Tourism, Leisure, Aerospace, Mining Rhode Island Biomedicine, Cyber, Defence

Wyoming Mining, Agriculture, Manufacturing Montana Agriculture

1411 Appendix III: DIT Network

1421 The DIT network has specialists across the U.S, from the British Embassy in Washington DC and the British Consulate General offices in Atlanta, Boston, Chicago, Houston, Los Angeles, Miami, New York and San Francisco. Relationships exist between MIDAS and the various posts, the following slides serve as a useful accompaniment to this paper. Over time this section will need to be updated a new contacts join DIT and existing contacts leave. MIDAS began a series of sector webinars in June 2020, targeting DIT in North America. This was an opportunity to refresh the GM messaging/proposition and help develop opportunities to collaborate as we emerge from the COVID-19 crisis.

1431 1431 144 145 1461 151 151 1471 1481 149 150 151 To discuss further/more information please contact:

Andrew Toolan, Head of Business Development & Strategic Partnerships, MIDAS

Tel:Economic 07738 Summary 027 186

E: [email protected]

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