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'title' => 'Sumitomo wins the confidence of nation-builders in Bangladesh',
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'description' => 'At the heart of Bangladesh's economic development vision, the government has relied on long-term partners that have delivered the desired results. Sumitomo Corporation Asia and Oceania, a leader in trade and infrastructure development, is among those trusted partners as seen by its engagement in the development of the Bangladesh Special Economic Zone (BSEZ). ',
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'content' => '<p>At the heart of Bangladesh's economic development vision, the government has relied on long-term partners that have delivered the desired results. <strong>Sumitomo Corporation Asia and Oceania</strong>, a leader in trade and infrastructure development, is among those trusted partners as seen by its engagement in the development of the <strong>Bangladesh Special Economic Zone (BSEZ)</strong>.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-6-BANGLA-Sumitomo.jpg" alt="" />
<figcaption class="image-caption">Sumitomo Corp. Asia & Oceania representatives led by (3rd and 4th from left) General Manager for Bangladesh Shinichi Nagata with the Ambassador of Bangladesh to Japan Shahabuddin Ahmed</figcaption>
</figure>
<p>In an interview with GMI POST, <strong>Sumitomo Corp. General Manager Shinichi Nagata </strong>shed light on how the Japanese giant has played a pivotal role in industrial development and job creation in the South Asian country.</p>
<p>“This office has more than 60 years of history. Historically, we engaged in the trading business. But now we are diversifying our business portfolio to include project development. We are now doing the Matabari deep sea port, a seven-year project to be completed this year. We are also involved in the Bangladesh Special Economic Zone. All these will be considered game changers,” Nagata said.</p>
<p>The Japanese executive also highlighted the symbiotic relationship between Sumitomo’s goals and the government's vision to diversify its economy.</p>
<p>“The Bangladesh government wants to attract more high-value-added manufacturing. Prime Minister Sheikh Hasina announced that Bangladesh will develop 100 special economic zones to attract holding direct investors. In line with that, the Japanese government willingly supports the development of the special economic zone,” Nagata said.</p>
<p>Sumitomo’s involvement in Bangladesh transcends mere business transactions; it embodies a deep-rooted commitment to partnership and trust-building. By aligning its objectives with the government’s economic vision, Sumitomo is investing not only in Bangladesh’s infrastructure but also in the prosperity and well-being of the Bangladeshi people.</p>',
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'title' => 'Want to build trust in the workplace? Hire the right people',
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<p>In January 2024, a study from <strong>MIT Sloan Management Review </strong>showed that if there is a high level of trust between employers and employees, motivation increases by at least 260%, and absenteeism declines by around 41%.</p>
<p>Unfortunately, in many corporate environments, fostering trust is difficult to accomplish because our colleagues are our first-level competitors.</p>
<p>This means that we are subjected to the same system for rewards and punishments. We mostly have the same, limited number of growth opportunities. We report to the same supervisors and managers who have their own biases. Plus, there is constant pressure to communicate, collaborate, smile, and project an aura of overall job satisfaction.</p>
<p> </p>
<p><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-6-GP-Trust.jpg" alt="" /></p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>The truth? Being a corporate professional is hard</strong></span></p>
<p> </p>
<p>Once in a while, you may find your best friend or future partner in the workplace. They are rare blessings. More often, colleagues essentially remain strangers who have to function smoothly like a well-oiled machine to achieve a common goal.</p>
<p>Is this, honestly, a realistic expectation? If you have a hand in policy formation, you might just be the person to address this.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>The solution? Invest in your recruitment process</strong></span></p>
<p> </p>
<p>While it might not be obvious, the first step to ensuring cohesion and healthy competition within an organization is the soundness of one’s recruitment process.</p>
<p>A 2023 study by the Forbes Human Resources Council shows that 87% of HR leaders believe that the first step in establishing trust in the workplace is recruiting employees who are the perfect fit.</p>
<p>After all, companies are made up of people from different backgrounds so there will always be a subculture to the company culture. An effective HR manager/recruiter will invite someone who can contribute to the group dynamic and be at ease with the organizational values and structure, whether formal or informal.</p>
<p>When one can empathize with other persons because they have similar goals, feelings, values, and experiences, an adversarial mindset can soften into a more open and hospitable one.</p>
<p>Other approaches that increase trust and healthy competition include having well-defined pay structures, active leadership, communication channels, and growth opportunities. At the bare minimum, investing in one’s HR and recruitment process can help engage employees, build trust, and ultimately, help businesses achieve their goals.</p>',
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'title' => 'Japan's leading chocolate maker reinvests in U.S. food-tech startup',
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'description' => 'Meiji Holdings Co. Ltd. (Meiji), the leading chocolate manufacturer in Japan, announced on February 9, 2024 that it had reinvested an undisclosed amount in the cell-cultured cocoa and coffee producer California Cultured Inc., which was founded in 2021. ',
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'content' => '<p><strong>Meiji Holdings Co. Ltd. (Meiji)</strong>, the leading chocolate manufacturer in Japan, announced on February 9, 2024 that it had reinvested an undisclosed amount in the cell-cultured cocoa and coffee producer <strong>California Cultured Inc.</strong>, which was founded in 2021.</p>
<p> </p>
<p><strong><span style="font-family: helvetica; font-size: 18pt;">Why did Meiji invest in California Cultured? </span><br /><br /></strong>From its headquarters in West Sacramento, California Cultured makes cocoa in fermentation tanks, a climate-resilient approach that also addresses deforestation and labor exploitation. Its products have captured the palates of consumers, as well as chocolate makers.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-US-Jap-GP-WK4-Meiji-California.jpg" alt="" />
<figcaption class="image-caption">California Cultured Head of Strategy Steve Stearns</figcaption>
</figure>
<p>Enter Japanese conglomerate Meiji, which realized the value in the sustainable supply chain solution that California Cultured provides.</p>
<p>“Meiji’s collaboration with California Cultured involves the seamless integration of the startup’s cocoa powder, cultivated from cells rather than traditional cocoa beans, into an array of confectionery and wellness products tailored for both the US and Japanese markets,” <strong>California Cultured Head of Strategy Steve Stearns </strong>said in an interview with Indie Bio’s Green Queen.</p>
<p>Stearns further explained that California Cultured’s unique cocoa production process not only aligns with Meiji’s sustainable and environmental practices but also allows them to create wellness-enhancing chocolate products designed for consumer use.<strong><br /><br /></strong>As reported by Indie Bio, Meiji’s investment in California Cultured comes with a 10-year commercial partnership that incorporates the U.S. startup’s cocoa powder into several packaged goods distributed by Meiji.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>What does the future of the global Cacao industry look like?</strong></span><br /><br />Global consumption for cocoa products is expected to increase in the next few years until 2028.</p>
<p>According to Statista, revenues for the Chocolate Confectionary market is projected to reach $254.10 billion in 2024. Top markets include the United States, Indonesia, Japan, India, and Mexico. The same report predicted that the average consumption of cocoa and coffee per person will grow to 2.4kg per year.</p>',
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'id' => '545637',
'title' => 'Mitsui's Quantum Leap to infuse $50 million in U.S. quantum computing company',
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'description' => 'Japanese conglomerate Mitsui & Co., Ltd. (Mitsui) recently invested $50 million in Colorado-based quantum computing company, Quantinuum, as part of the latter's $300 million equity fundraising endeavor, led by JPMorgan Chase and Honeywell, Quantinuum's majority shareholder. ',
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'content' => '<p>Japanese conglomerate <strong>Mitsui & Co., Ltd. (Mitsui)</strong> recently invested $50 million in Colorado-based quantum computing company, <strong>Quantinuum</strong>, as part of the latter’s $300 million equity fundraising endeavor, led by JPMorgan Chase and Honeywell, Quantinuum’s majority shareholder.</p>
<p>The strategic investment, announced in January 2024, is expected to catalyze Quantinuum’s objective of pioneering the world’s first fault-tolerant quantum computer while diversifying its suite of leading quantum software offerings.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-US-Jap-GP-WK4-Mitsui-Quantinuum-Colorado.jpg" alt="" />
<figcaption class="image-caption">Mitsui & Co. Representative Director, Executive Vice President, and Chief Digital Information Officer Yoshio Kometani (left) and Quantinuum Chief Operation Officer Tony Uttley (right)</figcaption>
</figure>
<p>The investment comes after the recent G7 summit held in Hiroshima, Japan, where both <strong>Japanese Prime Minister Fumio Kishida</strong> and <strong>U.S. President Joe Biden </strong>reaffirmed their commitment to close cooperation in the areas of quantum technology and artificial intelligence.</p>
<p>“We are deepening our cooperation on emerging technologies, including new partnerships between the United States and Japanese companies in areas like quantum computing,” President Biden told summit participants, according to the Japan Times.</p>
<p>In a joint press release with Mitsui, <strong>Quantinuum CEO Rajeeb Hazra</strong> expressed his eagerness in the venture: “The confidence in our business demonstrated through this investment by our longstanding strategic partners and industry leaders is a clear indication of the value we will continue to create.”</p>
<p>Beyond the investment, the partnership between Mitsui and Quantinuum extends to a distribution agreement that will facilitate the U.S. company’s entry into the Japanese and broader Asia-Pacific markets.</p>
<p>Leveraging Mitsui’s experience across diverse global industries, the collaboration aims to market Quantinuum’s knowledge, know-how, and solutions to advanced users already harnessing the power of quantum computing. Initial offerings will focus on the quantum cybersecurity domain.</p>
<p>By integrating Mitsui’s experience in a wide range of global industries and Quantinuum’s advanced quantum computing technology, both entities are poised to accelerate the development of quantum computing use cases, create innovative business models, and augment existing customer offerings.</p>
<p><br /><strong><span style="font-family: helvetica; font-size: 18pt;">How big is the quantum computing industry? </span><br /><br /></strong></p>
<p><strong>Boston Consulting Group </strong>projects that the quantum computing industry will become a $450-$850 billion industry by the end of 2035 and will grow in sectors such as healthcare, financial services, cybersecurity, material development, and logistics.</p>
<p> </p>',
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'title' => 'Japanese bullet train project in Texas gets $500,000 in government support',
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'description' => 'The vision of high-speed rail slicing through the heart of Texas, connecting Houston and Dallas in a swift 90-minute journey, gained fresh momentum early this year following the U.S. federal government's decision to grant $500,000 to the proposed rail project, according to the national passenger rail company Amtrak.',
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'content' => '<p>The vision of high-speed rail slicing through the heart of Texas, connecting Houston and Dallas in a swift 90-minute journey, gained fresh momentum early this year following the U.S. federal government’s decision to grant $500,000 to the proposed rail project, according to the national passenger rail company <strong>Amtrak</strong>.</p>
<p>This ambitious project, led by private-sector firm <strong>Texas Central</strong> and backed by Japanese <em>shinkansen</em> (bullet train) technology aims to transform travel in the southern United States.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-US-Jap-GP-WK4-Texas-Bullet-Train.jpg" alt="" />
<figcaption class="image-caption">Amtrak Senior Vice President of High-Speed Rail Development Programs Andy Byford</figcaption>
</figure>
<p>“If we are going to add more high-speed rail to this country, the Dallas to Houston Corridor is a compelling proposition and offers great potential,” said <strong>Amtrak Senior Vice President of High-Speed Rail Development Programs Andy Byford</strong>.</p>
<p>“We believe many of the country’s biggest and fastest-growing metropolitan areas, like Houston and Dallas, deserve more high quality high-speed, intercity rail service and we are proud to bring our experience to evaluate this potential project and explore opportunities with Texas Central so the state can meet its full transportation needs,” Byford added.</p>
<p>Meanwhile, <strong>Texas Central CEO Michael Bui </strong>said, “This high-speed train, using advanced, proven <em>shinkansen</em> technology, has the opportunity to revolutionize rail travel in the southern U.S., and we believe Amtrak could be the perfect partner to help us achieve that.”</p>
<p>With the potential to alleviate congestion and reduce carbon emissions, the project aligns with President Joe Biden's focus on rail infrastructure to combat climate change and stimulate job growth.</p>
<p>However, challenges loom large. The project has encountered delays and cost escalations, prompting a shift from reliance solely on private funding to seeking public-private partnerships. Cultural barriers also persist, as Texans accustomed to car-centric lifestyles may require persuasion to embrace rail travel.</p>
<p>Nevertheless, the allure of a swift and efficient connection between two bustling metropolises resonates strongly. As momentum builds and stakeholders collaborate, the Texas high-speed rail project stands poised to redefine transportation in the region, signaling a bold leap into a more connected and sustainable future.</p>',
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'title' => 'Wearing the leadership hat: Women in business',
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'description' => 'White. Male. Over 40. This profile perfectly describes the C-suite in many American companies. USA Today reports that in 2023, 88.8% of CEOs, CFOs, and COOs of Fortune 500 companies were white men. Thankfully, there is a cultural shift toward accepting more female leaders in business. ',
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'content' => '<p>White. Male. Over 40. This profile perfectly describes the C-suite in many American companies. USA Today reports that in 2023, 88.8% of CEOs, CFOs, and COOs of Fortune 500 companies were white men.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-5-GP-Sally-Hargis.jpg" alt="" />
<figcaption class="image-caption">Ozarks Coca-Cola and Dr. Pepper Bottling Co. Vice President and Chairman Sally Hargis</figcaption>
</figure>
<p>Thankfully, there is a cultural shift toward accepting more female leaders in business. And why not? With companies focusing more on diversity, inclusion and empowerment, women are ready to redefine how to be competitive in the corporate world.</p>
<p>The internet provides an unlimited source for female role models in various industries. Fueling the generational and cultural shifts are a slew of Gen Z and millennial yuppies who are raised with the ideals of equality and social responsibility – not simply profit maximization.</p>
<p>Missouri youth don’t need to look any further as inspiration comes in the form of <strong>Ozarks Coca-Cola/ Dr. Pepper Bottling Co.</strong> <strong>Vice President and Chairman Sally Hargis, </strong>whose leadership approach can be described as “human-centric” as it centers on employee and community engagement.</p>
<p>“I think all business is personal. When you can develop those personal relationships with people, you gain a better understanding of what their needs are and what they’re looking for,” Hargis said in an interview with Biz417 magazine.</p>
<p>Gender equality in business has been a more prominent theme over the years. The increasing number of female executives is a sign of progress. However, its twin issue is in the form of wage inequality due to gender biases – a challenge that will only further strengthen women’s resolve for their space in the corporate world.</p>',
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'description' => 'Bangladesh Prime Minister Sheikh Hasina, daughter of the nation's founding leader and its first president, Sheikh Mujibur Rahman, has led the country consolidating her legacy deeply rooted in the struggle for independence and economic progress.',
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'content' => '<p><strong>Bangladesh Prime Minister Sheikh Hasina</strong>, daughter of the nation’s founding leader and its first president, Sheikh Mujibur Rahman, has led the country consolidating her legacy deeply rooted in the struggle for independence and economic progress.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-5-BANGLA-Sheik-Hasina.jpg" alt="" />
<figcaption class="image-caption">Bangladesh Prime Minister Sheikh Hasina</figcaption>
</figure>
<p>Her leadership is marked by a commitment to advancing the rights and opportunities of women and children, recognizing their pivotal role in shaping Bangladesh's trajectory toward prosperity.</p>
<p>The present government under Sheikh Hasina's guidance has embarked on various initiatives aimed at ensuring the holistic development of women and children in Bangladesh. Through comprehensive policies and programs, her administration has prioritized education, healthcare, and economic empowerment for women, laying the foundation for a more inclusive and equitable society.</p>
<p>Central to Hasina's vision are the ambitious goals outlined in Vision 2041, which aim to propel Bangladesh towards becoming a high-income country. Integral to these visions is the recognition of women's empowerment as a catalyst for national development. Women's engagement in political and economic activities is considered not only a fundamental right but also a strategic imperative for driving transformative change.</p>
<p>Addressing the 78th United Nations General Assembly in September 2023, Hasina reiterated her unwavering commitment to advancing gender equality and women's empowerment on a global scale. She emphasized the need to enhance partnerships across sectors to mainstream gender equality and called upon the private sector to play a more proactive role in advancing women's participation at all levels.</p>
<p>"We must enhance our partnership base to make gender equality a norm across all sectors. The private sector needs to come forward to advance women's participation at a higher level. As leaders, we need to engage with them and encourage them to take bold initiatives in that regard," she affirmed.</p>
<p>Hasina's leadership underscores the importance of solidarity among women leaders worldwide in championing gender equality and women's rights. While acknowledging the diversity among nations, she emphasized the universal commitment to achieving a gender-equal world, stressing that no country should backtrack on its pledge to promote women's empowerment.</p>
<p>"As women leaders, we have a responsibility to stand by all women and create examples that can guide others. We must leverage our position and power to achieve a gender-equal world," she stressed.</p>
<p>In Bangladesh, Hasina's government translated these principles into concrete action through the implementation of progressive policies and targeted interventions. Measures such as increased access to education for girls, healthcare services for women and children, and economic opportunities through microfinance and entrepreneurship programs have contributed to tangible improvements in the lives of millions.</p>
<p>Hasina's administration has actively promoted women's participation in decision-making processes at all levels of governance, ensuring their voices are heard and their contributions valued in shaping policies and programs that affect their lives.</p>',
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'title' => 'Meet Illinois's first African-American lieutenant governor ',
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'description' => 'The 48th lieutenant governor of Illinois, Juliana Stratton, has made significant strides, etching her name in history not only as the fourth woman to hold the position but also as the first African-American woman to do so. Her tenure, spanning nearly half a decade, has been marked by a relentless commitment to public service and transformative leadership. ',
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'content' => '<p>The 48th lieutenant governor of Illinois, <strong>Juliana Stratton</strong>, has made significant strides, etching her name in history not only as the fourth woman to hold the position but also as the first African-American woman to do so. Her tenure, spanning nearly half a decade, has been marked by a relentless commitment to public service and transformative leadership.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-5-GL-Julliana-Stratton.jpg" alt="" />
<figcaption class="image-caption">Illinois Lieutenant Governor Juliana Stratton</figcaption>
</figure>
<p>In her multifaceted role, Lt. Governor Stratton has championed initiatives aimed at empowering women economically and fostering a robust teacher workforce pipeline. Additionally, she has chaired the military-economic development committee, demonstrating her prowess in driving strategic initiatives forward.</p>
<p>For her visionary leadership, she is getting recognized with the lifetime achievement award this year in the 5th Annual Rich Township Black History Awards Gala - the largest event of its kind in Illinois, joined by over 700+ business leaders, elected officers, and civic leaders.</p>
<p>Last fall, she led a delegation comprised predominantly of women to the 53rd Annual Midwest U.S-Japan Association Conference in Tokyo, where she highlighted Illinois’s newfound strength as a growing green economy equipped to contribute to the global clean energy revolution.</p>
<p>In light of the Illinois Climate and Equitable Jobs Act passed by Stratton’s administration, which ensures aims to achieve 100% carbon-free power by 2045, and the Reimagining Energy and Vehicles (REV) Program that incentivizes EV production, the state aims to reinvigorate its decades-long strength in manufacturing and capitalize on its central location and highly skilled workforce to embrace EV manufacturing.</p>
<p>“The Japanese are interested in the fact that we are on the path of a 100-percent clean energy future,” Stratton was quoted shortly after the event. During the conference, she also highlighted the interest of major Japanese automotive manufacturers like Mitsubishi and Toyota in working with Illinois to help the state achieve the goal of one million EVs on the road by the end of 2030, signaling a paradigm shift in transportation and environmental sustainability.</p>
<p>Stratton and her delegation have been instrumental in pushing Illinois’s business attractiveness to the Japanese – one of the state’s top foreign investment partners – especially the qualifications and skills of its workforce. The Climate and Equitable Jobs Act dedicates more than $80 million annually to developing the efficiency of workers in the solar and energy efficiency industries. “We have the best job force for the jobs of tomorrow,” Stratton said.</p>
<p>Stratton’s confidence in fulfilling her administration’s “commitment to cleaner, greener energy and travels across the state so that all communities can see and feel the impact,” making her the latest champion in Illinois’s energy transition efforts.</p>',
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'title' => 'Why Japan matters to Indiana according to the head of Knox County, Indiana ',
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'description' => '"Why are focused visits like these vital to Indiana, and particularly to Southern Indiana?" This was the question posed by Knox County Indiana Economic Development CEO Christopher Pfaff in a LinkedIn article posted on February 18, 2024 as he shared his experience when he joined a week-long trade mission in Japan. ',
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'content' => '<p>“Why are focused visits like these vital to Indiana, and particularly to Southern Indiana?” This was the question posed by <strong>Knox County Indiana Economic Development CEO Christopher Pfaff </strong>in a LinkedIn article posted on February 18, 2024 as he shared his experience when he joined a week-long trade mission in Japan.</p>
<p>GMI POST highlights three points the CEO made in that article wherein he spoke about the importance of trade mission trips. </p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>1. Mission trips help sustain Indiana’s positive relationships with its Japanese investors. </strong></span></p>
<p><strong> </strong></p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-US-Jap-GL-WK3-Indiana.jpg" alt="" />
<figcaption class="image-caption">Knox County Indiana Economic Development CEO Christopher Pfaff</figcaption>
</figure>
<p>According to Pfaff, Indiana has the highest concentration of foreign direct investment in the United States from Japanese companies. He explained that mission trips maintain positive relationships with Japanese companies and executives that have already invested heavily in Indiana.</p>
<p>Pfaff also points out that foreign-owned companies in Indiana employ more than 200,000 workers across the state. That number includes the more than 300 Japanese companies in Indiana, which employ more than 55,000 people.</p>
<p>“Many of these Japanese companies are international brand names, including Subaru Corp., Toyota Motor Corp., Honda Motor Co., and Hitachi Ltd. As one can imagine, there exists intense competition from many states and regions that would love to have these companies and jobs in their area. Through consistent performance and delivery, Indiana is winning. The state has fashioned and earned a stellar reputation for successful investments,” said Pfaff.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>2. Mission trips enable continuous improvement (<em>kaizen</em>)</strong></span></p>
<p> </p>
<p>“Traveling to see and meet with Japanese investors adds important dimensions and nuances,” said Pfaff, who added that by visiting world-leading urban centers, economic developers and public officials experience firsthand how their foreign counterparts build competitive cities.</p>
<p>Pfaff also praised Japan’s collective ability to effectively weave technology, business, climate conservation, and culture into their urban settlements, buildings, and workplace environments.<strong> </strong></p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>3. </strong><strong>Missions trips show that you care</strong></span></p>
<p><strong> </strong></p>
<p>“The Knox County local government participation also sends an important message: Our local officials care enough about the substantial multi-million-dollar investments in southern Indiana that they will personally take the time, energy and funds to visit in-person,” said Pfaff. <br /><br />According to the CEO, the good impression and the good relationship that you are able to create through physical interactions are important considerations that cannot be understated. <br /><br />“For certain, economic development, and especially international economic development, is a contact sport,” Pfaff said.</p>
<p><strong><em><a href="https://knoxcountyindiana.com" target="_blank" rel="noopener">https://knoxcountyindiana.com</a></em></strong></p>',
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'title' => 'Panasonic Energy invests around $4 billion in De Soto, Kansas',
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'description' => 'Panasonic Energy, a Japanese maker of batteries for electric vehicles and a major supplier to Tesla, is converting a former U.S. Army ammunition plant in the city of De Soto, Kansas into a $4 billion lithium-ion battery manufacturing facility.',
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'content' => '<p><strong>Panasonic Energy</strong>, a Japanese maker of batteries for electric vehicles and a major supplier to Tesla, is converting a former U.S. Army ammunition plant in the city of De Soto, Kansas into a $4 billion lithium-ion battery manufacturing facility.</p>
<p>In an interview with Nikkei Asia, <strong>De Soto Mayor Rick Walker</strong> expressed his excitement about the vast 5.5 million square feet factory going up on his city's outskirts.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-US-Jap-GP-WK3-Panasonic-Energy.jpg" alt="" />
<figcaption class="image-caption">De Soto Mayor Rick Walker (left) and Kansas City Area Development Council President and CEO Tim Cowden (right)</figcaption>
</figure>
<p>“The City of De Soto is thrilled to work with Panasonic and welcome them to our amazing community. De Soto has a rich history of supporting critical manufacturing facilities and we have been planning for this growth and the return of advanced manufacturing jobs to this area for years. We're especially excited for the opportunity to invest in the renewable energy industry and provide strong jobs for generations to come,” De Soto said.</p>
<p>The new Panasonic plant, which plans to begin mass production by March 2025, is expected to create 4,000 direct jobs in the city of 6,200 people.</p>
<p>“We want to bring back that job center that we had, that we've always had, that will help to drive and make our community thrive,” the mayor said.</p>
<p>The De Soto Plant will be Panasonic's second battery factory in the United States, where it is Tesla’s biggest supplier. The plant will produce 30 gigawatt-hours worth of EV batteries per year, roughly equivalent to 550,000 units of Tesla's popular Model 3, although Panasonic is planning to supply other customers from the plant as well.</p>
<p>In a press release to local media, <strong>Kris Takamoto, Executive Vice President of Panasonic Energy, Head of EV Battery Business</strong> said, “Expanding production capacity in Kansas will enable us to continue delivering the highest quality batteries for our automotive partners as demand grows.”</p>
<p>“We are already producing more than five million battery cells a day in North America, and the new facility in Kansas will further grow our capacity, efficiency and economies of scale which are critical to a net-zero emissions future,” Takamoto said.<br /><br />Meanwhile, <strong>Kansas City Area Development Council President and CEO Tim Cowden </strong>also expressed his support for the project: “We are incredibly proud to stand shoulder-to-shoulder with Panasonic as they revolutionize the global transportation industry from the center of the most dynamic economy in the world.”</p>
<p>“The Kansas City region, just as it has over the past century, is cementing its rightful place as a leader where transit innovation is occurring,” he said.<br /><strong><br /><em><u><a href="https://thinkkc.com" target="_blank" rel="noopener">https://thinkkc.com</a></u></em></strong></p>',
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'id' => '545632',
'title' => 'Japanese chipmaker Renesas to buy U.S.-based electronics design firm Altium',
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'description' => 'In a press statement released last January 11, Japanese semiconductor manufacturer Renesas said it will acquire electronics design firm Altium for $5.9 billion in cash in line with its plans to offer digital device design to customers.',
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'content' => '<p>In a press statement released last January 11, Japanese semiconductor manufacturer <strong>Renesas</strong> said it will acquire electronics design firm Altium for $5.9 billion in cash in line with its plans to offer digital device design to customers.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-US-Jap-GL-WK3-Renesas.jpg" alt="" />
<figcaption class="image-caption">Renesas CEO Hidetoshi Shibata</figcaption>
</figure>
<p>"As long as we remain a traditional device manufacturer, we will only be marginalized," said <strong>Renesas CEO Hidetoshi Shibata </strong>at a news conference as he explained the need for the company to adapt to new technology and offer new products and services.</p>
<p>According to a report by Reuters, the acquisition places Renesas at the forefront of deal-making and investment in Japan's semiconductor industry, with the Japanese government making efforts to improve competitiveness and boost supply chain resilience against geopolitical shocks.<br /><br />Meanwhile, <strong>Altium CEO Aram Mirkazemi </strong>told local media that Renesas acquisition will help his company execute plans at a faster pace. <br /><br />Headquartered in the United States and listed in Australia, Altium booked sales of $263 million in the year ended June with earnings before interest, tax, depreciation and amortization (EBITDA) margin of 36.5%.</p>
<p>Reuters reported that Renesas offered Altium 68.50 Australian dollar per share (about $48.76) and said it would finance the purchase with cash on hand and bank loans. The same report said the deal was approved by the board of both companies but still required approval from Altium shareholders and an Australian court. Renesas said it expects the deal to close in the second half of 2024.</p>
<p><strong> </strong><strong><em><a href="https://www.renesas.com/jp/ja" target="_blank" rel="noopener">https://www.renesas.com/jp/ja</a> </em></strong></p>',
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'id' => '545627',
'title' => 'How did an Illinois suburb attract $1.2 billion in investments and create more than 5,000 new jobs?',
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'description' => 'Lake County, a suburban region northeast of Chicago, has witnessed an economic boom in recent years. The area attracted over $1.2 billion in direct capital investment in the last five years, generating more than 5,000 new jobs. It is already home to the second-largest concentration of Fortune 500 companies' headquarters in the Midwest. ',
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'content' => '<p>Lake County, a suburban region just north of Chicago, has witnessed an economic boom in recent years. The area attracted over $1.2 billion in direct capital investment in the last five years, generating more than 5,000 new jobs.</p>
<p>It is already home to the second-largest concentration of Fortune 500 companies’ headquarters in the Midwest, and is also known for its immense talent pipeline and thriving life science and advanced manufacturing industries.</p>
<p>Between 2018 and 2021, gross GDP grew 9.6% to $69.7 billion. Forecasts indicate continued growth, with GDP rising by 21.8% and employment growing by more than 10,000 new jobs by 2027.</p>
<p>At the helm of this economic success is the region’s economic development corporation <strong>Lake County Partners</strong> led by <strong>President and CEO Kevin Considine</strong>. In a conversation with GMI POST, Considine highlights three key strategies that helped Lake County continue its growth momentum.</p>
<p> </p>
<p><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-4-GL-Illinois-Cosidine-2.jpg" alt="" /></p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Strategy 1: Focus on skilled workforce development</strong></span></p>
<p>Lake County prioritizes building a strong talent pipeline, said Considine as he explained that their efforts “start early” by aligning education and training initiatives with industry needs.</p>
<p>“We have got a deep set of talent here, especially in advanced manufacturing and life sciences,” Considine said. To foster this advantage, Lake County focuses on early engagement, working with middle school students to spark interest in these fields. </p>
<p>“We ensure students have significant exposure to what the industry is all about to develop their interests, skills, and careers systematically. Building this pipeline is the focus of our workforce development efforts,” he said.</p>
<p>There are nearly 14,500 Lake County high school students participating in career pathway training across the fields of manufacturing, healthcare and information technology. Manufacturing makes up the largest percentage of participants, with more than 8,000 students.</p>
<p>For the existing workforce, Considine emphasizes reskilling and upskilling to be more competitive.</p>
<p>“As the manufacturing heart of the United States, we ensure our workforce is adapting to trends like automation, AI, and sustainable practices. We help them understand the use case of advanced technology while ensuring they are environmentally conscious,” he also said.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Strategy 2: Nurture investor relationships</strong><strong> </strong></span></p>
<p>Foreign investment plays a major role in Lake County’s economy, with Japan being a particularly valued partner. With over 25 Japanese-owned businesses operating successfully in the region, Considine said he considers Japan a critical investment partner.</p>
<p>“As the second-largest international investor in our region, we are grateful for our relationship with Japan. We thank all the Japanese businesses who chose to call Lake County their home,” he said.</p>
<p>However, building an attractive business environment goes beyond financial considerations. Lake County strives to create a welcoming community for investors and their families.</p>
<p>“It’s never just business,” said Considine, highlighting the region’s focus on providing amenities that ensure investors “feel at home.”</p>
<p>In addition, Considine underscores the importance of maintaining these relationships through consistent presence.</p>
<p>Commenting on his latest trip to Japan last fall to celebrate the 50th anniversary of the sister city agreement between Osaka and Chicago, Considine said, “We want the Japanese community to know that Lake County is here for them and the biggest way to do so is to keep showing up at all occasions.”</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Strategy 3: Develop competitive infrastructure </strong></span></p>
<p>For Considine, a successful business environment demands strong infrastructure. Lake County benefits from its strategic location near O’Hare International Airport, the world’s most connected airport. It also offers convenient interstate connectivity, which ensures that “businesses can move goods and people at all times.”</p>
<p>Reliable and affordable utilities are another essential factor for business success. “Our business sites are built on the foundation of reliable utilities which are available at a fraction of the cost compared to other locations,” Considine said.</p>
<p>Amid a boom in manufacturing, Lake County has employed nearly 100,000 locally, or one for every seven jobs. To meet the demand for talent, local leaders are investing in education.</p>
<p>There is no better example than the College of Lake County’s (CLC) new Advanced Technology Center, which is the crown jewel of manufacturing workforce development. CLC now has over 1,000 students in manufacturing programs, and the number stands to grow in the coming years. </p>
<p>“We have a strong workforce ecosystem that is focused on bringing innovation and automation to Lake County’s manufacturing industry, and making sure that businesses can find the people that they need to thrive, said Considine, whose confidence in Lake County’s future is clear.</p>
<p>“Lake County will unquestionably be the best place for people to grow their businesses and careers in the upcoming years,” he added.</p>
<p><em><strong><a href="https://www.lakecountypartners.com/" target="_blank" rel="noopener">https://www.lakecountypartners.com</a></strong></em></p>',
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'title' => 'Renowned U.S. chip designer wants to end Nvidia's global dominance',
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'description' => 'Tenstorrent CEO Jim Keller, who worked for Intel, AMD and Tesla, said in an interview with Nikkei Asia that he wants to lower the price of AI applications by designing chips that are more efficient than Nvidia's and, in the process, end the American giant's global market dominance.',
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'content' => '<p><strong>Tenstorrent CEO Jim Keller</strong>, who worked for Intel, AMD and Tesla, said in an interview with Nikkei Asia that he wants to lower the price of AI applications by designing chips that are more efficient than Nvidia's and, in the process, end the American giant’s global market dominance.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-13-Tenstorrent.jpg" alt="" />
<figcaption class="image-caption">Tenstorrent CEO Jim Keller (Photo source: Tenstorrent)</figcaption>
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<p>Headquartered in Toronto, Tenstorrent has offices in Austin, Texas and Santa Clara, California, as well as in Belgrade, Tokyo, Bangalore, and Seoul. The company claims to be developing AI processors that perform as efficiently as Nvidia's AI GPUs but at a lower cost.</p>
<p>At present, Nvidia is the global market leader when it comes to AI chips. Its AI accelerators command between 70% and 95% of the global market share, according to CNBC.</p>
<p>Keller also said in the interview that Tenstorrent hopes to sell its second-generation multipurpose AI chip by the end of this year.</p>
<p>According to Keller, Tenstorrent can achieve its objective because it does not use high-bandwidth memory (HBM), a popular type of advanced memory chip capable of transferring large amounts of data quickly. HBM is a vital component for generative AI chips and has played a significant role in the success of Nvidia's offerings.</p>
<p>But Keller pointed out that HBM was also one of the culprits behind the massive energy consumption and high prices of AI chips.</p>
<p>"Even the people that use HBM struggle with the cost of it, [and] the design time to build it,” he said.</p>
<p>By doing away with HBM, Tenstorrent will design a chip that can replace both GPUs and HBMs in some areas of AI development, adding that its new product will be "as cost-effective as possible".</p>',
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'content' => '<p>Tokyo-based trading giant <strong>ITOCHU</strong> secured a contract to develop and test AI systems that will help run the transportation network and energy infrastructure of a future smart city project in southern Taiwan, according to a company press release.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-13-ITOCHU-Taiwan.jpg" alt="" />
<figcaption class="image-caption">ITOCHU plans to roll out AI-powered buses for Taiwan's new smart city project in Tainan. (Photo source: Nikkei Asia)</figcaption>
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<p>ITOCHU outbid other parties interested in the Integrated Development Project for Shalun Smart Green Energy Science City located in Tainan. The early-stage contract, according to Nikkei Asia, is worth around $332,000 (10.8 million New Taiwan dollars).</p>
<p>According to ITOCHU, the goal is to test its AI systems on a trial basis by the end of October. This is the first time the trading house has officially participated in an overseas smart city project.</p>
<p>The Taiwanese government also announced plans to earmark an additional $306.9 million (or 10 billion NTD) to develop the country’s artificial intelligence (AI) industry. In line with this goal, ITOCHU will collaborate with various Taiwanese partners, including IT company Accton Technology and National Cheng Kung University.</p>
<p>Home to the world's largest semiconductor maker, Taiwan Semiconductor Manufacturing Company (TSMC), Taiwan has a global market share of 61.7%. CNN estimates that TSMC produces 90% of the world's super-advanced semiconductor chips, which are used to power everything from smartphones to artificial intelligence applications.</p>',
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'content' => '<p>Belgium-based supplier of semiconductor solutions <strong>Melexis</strong> has opened its largest wafer testing site worldwide in Kuching in the Malaysian state of Sarawak to strengthen its presence in Asia-Pacific and meet the rising demand for semiconductors around the world, according to a company announcement.</p>
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<figcaption class="image-caption">Melexis' new 70 million-euro facility in Kuching is a nod to the local architectural design. (Photo source: Melexis)</figcaption>
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<p>Wafer testing is part of the manufacturing process wherein all individual integrated circuits are checked for functional defects through special test patterns.</p>
<p>According to Melexis, its expansion in Malaysia is a strategic move to streamline logistics and reduce its ecological footprint. Additionally, it selected Kuching because of its diverse, multilingual, entrepreneurial and highly skilled workforce.</p>
<p><strong>Melexis CEO Marc Biron </strong>said, “With an investment of 70 million euros, this opening underscores the ambition of Melexis and will ensure future growth. With Melexis, we are at the forefront of innovation, and this opening will support us in the markets that we serve.”</p>
<p>The new four-storey building, a collaboration of award-winning Belgian architect Sebastian Mortelmans and local architectural firm DNA, covers a ground surface of 4,500 sq. m., making it the company’s largest wafer testing site worldwide. The modern design evokes local longhouse architecture, incorporates advanced energy-saving systems, like a solar installation that can generate 30.000 kWh per month, and minimizes its environmental impact.</p>
<p>“Melexis has made the right choice to invest in Sarawak. With political stability, Sarawak is business-friendly and welcomes investments that can create mutual benefits. The Sarawak government has always been very supportive of investors both foreign and domestic. It is among the most preferred destinations for investment in Malaysia,” <strong>Sarawak’s Ministry of International Trade, Industry and Investment </strong>said in a statement<strong>.</strong></p>
<p>“Sarawak possesses many comparative advantages for businesses to grow and prosper such as strategic location, availability of green energy, talented workforce, and suitable land for industrial activities,” the statement also said.</p>',
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'content' => '<p>Japanese trading giant <strong>ITOCHU</strong> announced this month it had invested in <strong>ZeroAvia</strong>, a British-American maker of hydrogen-electric engines for aircraft, according to a company statement.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-13-Itochu-ZeroAvia.jpg" alt="" />
<figcaption class="image-caption">An aircraft powered by ZeroAvia's hydrogen-electric engines (Photo source: ZeroAvia)</figcaption>
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<p>Founded in 2018, ZeroAvia describes itself as “a team of passionate innovators dedicated to bringing safe, zero-emission flight to aviation.” The company claims its hydrogen-electric propulsion systems are “the most environmentally friendly and economically attractive solution to aviation’s growing climate change impact.”</p>
<p>According to ZeroAvia, its hydrogen-electric engines cut more than 90% of harmful emissions, lower operating costs by more than 40%, improve air quality and reduce noise pollution in airport communities.</p>
<p>Under the deal, ITOCHU will serve as ZeroAvia's distributor in Asia, marking its first investment in a developer of hydrogen engines for aircraft and a further expansion into the aviation industry. ITOCHU is part of Japan Aerospace, which is involved in aircraft sales, and of JAMCO, which manufactures materials for aircraft interiors.</p>
<p>According to ITOCHU, this recent investment is part of the company’s long-term goal of helping save the planet by decarbonizing the aviation industry.</p>',
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'content' => '<p>For the third time in the last five years,<strong> Virginia</strong> was ranked America’s Top State for Business in 2024 by CNBC, which cited the state for having the best public schools in the country. It grabbed the top spot in 2007, 2009, 2011, 2019, and 2021.</p>
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<figcaption class="image-caption">Fairfax County Economic Development Authority President and CEO Victor Hoskins (Photo source: Fairfax County Economic Development Authority)</figcaption>
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<p>“Congratulations to Virginia on being named America’s Top State for Business in 2024 by CNBC, a record six times achieving that designation. I know that Virginia succeeds because of our shared belief that collaboration and innovation yield great results for our businesses and their employees,” said <strong>Fairfax County Economic Development Authority President and CEO Victor Hoskins</strong>.</p>
<p>Virginia ranks in the top half or better in each of the study’s 10 categories this year, “a rare feat,” noted CNBC. The state landed in the top 10 in four additional categories: infrastructure (3rd), business friendliness (5th), access to capital (8th) and workforce (9th).</p>
<p>For the first time, CNBC counted infrastructure (including the availability of shovel-ready sites) as the most important component for businesses when deciding on investment and cited the Virginia Business Ready Sites Program, as well as its world-class port, rail, roadway, and air transportation ecosystem as major contributors to the recognition.</p>
<p>CNBC’s annual ranking measures all 50 states on 128 different metrics in 10 key categories of competitiveness. North Carolina ranked second on the list, followed by Texas, Georgia and Florida.</p>
<p>Regarding Virginia’s economic relations with Japan, over $32.5 billion in capital investment has been made by Japanese companies in the last 5 years, according to the Virginia Economic Development Partnership, which also reports that Japanese companies employ more than 15,2000 people in the state.</p>',
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<figcaption class="image-caption">Michigan Gov. Gretchen Whitmer (center) with senior officers of FANUC America at its West Campus. (Photo source: FANUC America)</figcaption>
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<p>The new 650,000-square-foot facility was inaugurated on July 10 and is located in FANUC America’s West Campus in Auburn Hills, Michigan. The expansion increases the company’s footprint in Michigan to over 2 million square feet and is part of FANUC America’s plan to advance industrial automation in North America. The West Campus represents a $110 million investment built on 67 acres of land.</p>
<p>The facility, built on 270,000 square meters, has warehouse space to hold more than 6,000 robots and features automated systems for moving the robots in and out of the building, according to FANUC America.</p>
<p>"Our ongoing upward trajectory allows us to better support our customers with cutting-edge robotic and automation solutions, helping to drive more efficiency across all industries,” <strong>FANUC America CEO Michael Cicco </strong>said at the unveiling ceremony.</p>
<p>The Japanese company said it would have invested $250 million in North America since 2019 once this and other projects in its pipeline are completed. Currently, FANUC America has created over 400 jobs in Michigan.</p>',
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'description' => 'K Health, a leading AI-driven primary care company that provides 24/7 virtual primary care solutions through its mobile app, announced this month that it had raised $50 million in funding led by Claure Group with participation from investors, including Pablo Legorreta (founder and CEO of Royalty Pharma) and Mangrove Capital Partners, Valor Equity Partners, and Atreides Management.',
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'content' => '<p><strong>K Health</strong>, a leading AI-driven primary care company that provides 24/7 virtual primary care solutions through its mobile app, announced this month that it had raised $50 million in funding led by Claure Group with participation from investors, including Pablo Legorreta (founder and CEO of Royalty Pharma) and Mangrove Capital Partners, Valor Equity Partners, and Atreides Management.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-12-NYNJ-K-Health-Alan-Bloch.jpg" alt="" />
<figcaption class="image-caption">K Health founder and CEO Allon Bloch (Photo source: K Health)</figcaption>
</figure>
<p>K Health said in the same statement that it had been developing its own AI technology for more than seven years. Today, it can provide 24/7 virtual primary care solutions to millions of people in the United States.</p>
<p>The K Health platform includes clinical-grade medical chat and AI predictive models based on large datasets to help physicians optimize diagnosis and treatment and focus on patient care.</p>
<p>Instead of doctors taking patients through lengthy procedures and manually piecing together their medical history from electronic medical records, K Health allows healthcare providers to engage more quickly and closely with patients by giving them a complete medical chart with patient insights straight from the app.</p>
<p>According to K Health, this new model of care delivery achieves dramatically higher quality of care at lower costs compared to traditional primary care.</p>
<p>“K Health solves the need to make primary care visits highly personalized by giving doctors AI superpowers that enable them to practice at the top of their license. Our primary care platform offers a concierge medical experience with an assigned provider and 24/7 access to care,” explained<strong> K Health founder and CEO Allon Bloch.</strong></p>
<p>“When partnered with leading health systems, this model creates significant benefits to access, clinical outcomes, and patient experience. All you need to get care is your health insurance, a stark contrast to concierge medicine services that typically cost thousands of dollars,” Bloch added.</p>
<p>Meanwhile, <strong>Claure Group</strong> <strong>Founder and CEO Marcelo Claure </strong>said: As I invest in the AI landscape, I have found it incredibly difficult to discover companies making tangible, real-world progress with AI. K Health is the first company I've seen successfully using AI to impact millions of lives. They are addressing some of healthcare's greatest challenges by providing accessibility to faster, higher-quality, lower-cost care on a large scale."</p>',
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'description' => 'Ontario-based multinational Lee Li Holdings (LLH) CEO Lee Q. Shim told Cambodian Prime Minister Hun Manet in a meeting at the capital Phnom Penh this month that his company was looking at investment opportunities in the country, including its automotive healthcare, gas and oil, food processing and logistics, automobiles, and exports accreditation sectors.',
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'content' => '<p>Ontario-based multinational <strong>Lee Li Holdings (LLH)</strong> <strong>CEO Lee Q. Shim</strong> told <strong>Cambodian Prime Minister Hun Manet </strong>in a meeting at the capital Phnom Penh this month that his company was looking at investment opportunities in the country, including its automotive healthcare, gas and oil, food processing and logistics, automobiles, and exports accreditation sectors.</p>
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<figcaption class="image-caption">Cambodia Prime Minister Hun Manet (right) met with Lee Li Holdings President and CEO Lee Q. Shim (Ieft) in Phnom Penh this month. (Photo source: Office of the Prime Minister)</figcaption>
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<p>During the meeting, Manet pointed out that the <strong>Cambodia Chamber of Commerce</strong> had two representative offices in Canada (Toronto and Montreal) that promote bilateral trade and assist exporters and importers in their two countries.</p>
<p>“Shim’s visit will further contribute to the promotion of trade relations between Cambodia and Canada,” Manet said.<br /><br />The prime minister also encouraged Shim to pursue discussions with relevant ministries and agencies, such as the Ministry of Health, the Ministry of Mines and Energy, and Ministry of Commerce, adding that his government has supported the private sector by encouraging international investment in the country.</p>
<p>Canada is one of the largest investors in Cambodia and has brought in around $1.1 billion in foreign direct investment as of 2021, Cambodian socio-economic analyst Chey Tech told The Phnom Penh Post in an interview.</p>',
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'content' => '<p><strong>National University Hospital (NUH)</strong>, the main teaching hospital of the country’s top-ranking National University of Singapore, announced this month the opening of a center focused on providing trauma care to vulnerable groups, particularly children, older adults, and migrant workers.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-12-SG-NU-Hospital.jpg" alt="" />
<figcaption class="image-caption">Key representatives of NUH during the launch of the National University Centre for Trauma (Photo source: Singapore's National University Hospital)</figcaption>
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<p>According to the NUH, the center will use a code system to reduce the time between admission to the emergency department and the transfer to an operating theatre. Code Trauma involves the mobilization of all essential staff, including emergency physicians, nurses, surgeons, and anesthesiologists, to accelerate decision-making and response for patients with polytrauma or multiple injuries.</p>
<p>“The National University Centre for Trauma represents decades of efforts in refining our trauma care expertise for our injured patients to return to their lives and achieve their dreams. It also aims to prevent trauma from occurring in the first place with data-driven injury prevention efforts,” said <strong>National University Centre for Trauma Director Raj Menon.</strong></p>
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<p>Today, NUH has over 1,200 beds and serves more than 1 million patients a year with over 50 medical, surgical, and dental specialties. NUH is the only public and not-for-profit hospital in Singapore that provides care for adults, women and children under one roof, including the country’s only pediatric kidney and liver transplant program.</p>',
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'description' => 'Lake County, a suburban region northeast of Chicago, has witnessed an economic boom in recent years. The area attracted over $1.2 billion in direct capital investment in the last five years, generating more than 5,000 new jobs. It is already home to the second-largest concentration of Fortune 500 companies' headquarters in the Midwest. ',
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'content' => '<p>Lake County, a suburban region just north of Chicago, has witnessed an economic boom in recent years. The area attracted over $1.2 billion in direct capital investment in the last five years, generating more than 5,000 new jobs.</p>
<p>It is already home to the second-largest concentration of Fortune 500 companies’ headquarters in the Midwest, and is also known for its immense talent pipeline and thriving life science and advanced manufacturing industries.</p>
<p>Between 2018 and 2021, gross GDP grew 9.6% to $69.7 billion. Forecasts indicate continued growth, with GDP rising by 21.8% and employment growing by more than 10,000 new jobs by 2027.</p>
<p>At the helm of this economic success is the region’s economic development corporation <strong>Lake County Partners</strong> led by <strong>President and CEO Kevin Considine</strong>. In a conversation with GMI POST, Considine highlights three key strategies that helped Lake County continue its growth momentum.</p>
<p> </p>
<p><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-4-GL-Illinois-Cosidine-2.jpg" alt="" /></p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Strategy 1: Focus on skilled workforce development</strong></span></p>
<p>Lake County prioritizes building a strong talent pipeline, said Considine as he explained that their efforts “start early” by aligning education and training initiatives with industry needs.</p>
<p>“We have got a deep set of talent here, especially in advanced manufacturing and life sciences,” Considine said. To foster this advantage, Lake County focuses on early engagement, working with middle school students to spark interest in these fields. </p>
<p>“We ensure students have significant exposure to what the industry is all about to develop their interests, skills, and careers systematically. Building this pipeline is the focus of our workforce development efforts,” he said.</p>
<p>There are nearly 14,500 Lake County high school students participating in career pathway training across the fields of manufacturing, healthcare and information technology. Manufacturing makes up the largest percentage of participants, with more than 8,000 students.</p>
<p>For the existing workforce, Considine emphasizes reskilling and upskilling to be more competitive.</p>
<p>“As the manufacturing heart of the United States, we ensure our workforce is adapting to trends like automation, AI, and sustainable practices. We help them understand the use case of advanced technology while ensuring they are environmentally conscious,” he also said.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Strategy 2: Nurture investor relationships</strong><strong> </strong></span></p>
<p>Foreign investment plays a major role in Lake County’s economy, with Japan being a particularly valued partner. With over 25 Japanese-owned businesses operating successfully in the region, Considine said he considers Japan a critical investment partner.</p>
<p>“As the second-largest international investor in our region, we are grateful for our relationship with Japan. We thank all the Japanese businesses who chose to call Lake County their home,” he said.</p>
<p>However, building an attractive business environment goes beyond financial considerations. Lake County strives to create a welcoming community for investors and their families.</p>
<p>“It’s never just business,” said Considine, highlighting the region’s focus on providing amenities that ensure investors “feel at home.”</p>
<p>In addition, Considine underscores the importance of maintaining these relationships through consistent presence.</p>
<p>Commenting on his latest trip to Japan last fall to celebrate the 50th anniversary of the sister city agreement between Osaka and Chicago, Considine said, “We want the Japanese community to know that Lake County is here for them and the biggest way to do so is to keep showing up at all occasions.”</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Strategy 3: Develop competitive infrastructure </strong></span></p>
<p>For Considine, a successful business environment demands strong infrastructure. Lake County benefits from its strategic location near O’Hare International Airport, the world’s most connected airport. It also offers convenient interstate connectivity, which ensures that “businesses can move goods and people at all times.”</p>
<p>Reliable and affordable utilities are another essential factor for business success. “Our business sites are built on the foundation of reliable utilities which are available at a fraction of the cost compared to other locations,” Considine said.</p>
<p>Amid a boom in manufacturing, Lake County has employed nearly 100,000 locally, or one for every seven jobs. To meet the demand for talent, local leaders are investing in education.</p>
<p>There is no better example than the College of Lake County’s (CLC) new Advanced Technology Center, which is the crown jewel of manufacturing workforce development. CLC now has over 1,000 students in manufacturing programs, and the number stands to grow in the coming years. </p>
<p>“We have a strong workforce ecosystem that is focused on bringing innovation and automation to Lake County’s manufacturing industry, and making sure that businesses can find the people that they need to thrive, said Considine, whose confidence in Lake County’s future is clear.</p>
<p>“Lake County will unquestionably be the best place for people to grow their businesses and careers in the upcoming years,” he added.</p>
<p><em><strong><a href="https://www.lakecountypartners.com/" target="_blank" rel="noopener">https://www.lakecountypartners.com</a></strong></em></p>',
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'description' => 'At the heart of Bangladesh's economic development vision, the government has relied on long-term partners that have delivered the desired results. Sumitomo Corporation Asia and Oceania, a leader in trade and infrastructure development, is among those trusted partners as seen by its engagement in the development of the Bangladesh Special Economic Zone (BSEZ). ',
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'content' => '<p>At the heart of Bangladesh's economic development vision, the government has relied on long-term partners that have delivered the desired results. <strong>Sumitomo Corporation Asia and Oceania</strong>, a leader in trade and infrastructure development, is among those trusted partners as seen by its engagement in the development of the <strong>Bangladesh Special Economic Zone (BSEZ)</strong>.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-6-BANGLA-Sumitomo.jpg" alt="" />
<figcaption class="image-caption">Sumitomo Corp. Asia & Oceania representatives led by (3rd and 4th from left) General Manager for Bangladesh Shinichi Nagata with the Ambassador of Bangladesh to Japan Shahabuddin Ahmed</figcaption>
</figure>
<p>In an interview with GMI POST, <strong>Sumitomo Corp. General Manager Shinichi Nagata </strong>shed light on how the Japanese giant has played a pivotal role in industrial development and job creation in the South Asian country.</p>
<p>“This office has more than 60 years of history. Historically, we engaged in the trading business. But now we are diversifying our business portfolio to include project development. We are now doing the Matabari deep sea port, a seven-year project to be completed this year. We are also involved in the Bangladesh Special Economic Zone. All these will be considered game changers,” Nagata said.</p>
<p>The Japanese executive also highlighted the symbiotic relationship between Sumitomo’s goals and the government's vision to diversify its economy.</p>
<p>“The Bangladesh government wants to attract more high-value-added manufacturing. Prime Minister Sheikh Hasina announced that Bangladesh will develop 100 special economic zones to attract holding direct investors. In line with that, the Japanese government willingly supports the development of the special economic zone,” Nagata said.</p>
<p>Sumitomo’s involvement in Bangladesh transcends mere business transactions; it embodies a deep-rooted commitment to partnership and trust-building. By aligning its objectives with the government’s economic vision, Sumitomo is investing not only in Bangladesh’s infrastructure but also in the prosperity and well-being of the Bangladeshi people.</p>',
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'content' => '<p>We’ve heard it many times: Trust is integral to organizational success because it helps achieve common goals. Maybe we’ll need to hear it again because trust in the workplace remains very important, particularly with the emergence of working from home and hybrid arrangements.</p>
<p>In January 2024, a study from <strong>MIT Sloan Management Review </strong>showed that if there is a high level of trust between employers and employees, motivation increases by at least 260%, and absenteeism declines by around 41%.</p>
<p>Unfortunately, in many corporate environments, fostering trust is difficult to accomplish because our colleagues are our first-level competitors.</p>
<p>This means that we are subjected to the same system for rewards and punishments. We mostly have the same, limited number of growth opportunities. We report to the same supervisors and managers who have their own biases. Plus, there is constant pressure to communicate, collaborate, smile, and project an aura of overall job satisfaction.</p>
<p> </p>
<p><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-6-GP-Trust.jpg" alt="" /></p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>The truth? Being a corporate professional is hard</strong></span></p>
<p> </p>
<p>Once in a while, you may find your best friend or future partner in the workplace. They are rare blessings. More often, colleagues essentially remain strangers who have to function smoothly like a well-oiled machine to achieve a common goal.</p>
<p>Is this, honestly, a realistic expectation? If you have a hand in policy formation, you might just be the person to address this.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>The solution? Invest in your recruitment process</strong></span></p>
<p> </p>
<p>While it might not be obvious, the first step to ensuring cohesion and healthy competition within an organization is the soundness of one’s recruitment process.</p>
<p>A 2023 study by the Forbes Human Resources Council shows that 87% of HR leaders believe that the first step in establishing trust in the workplace is recruiting employees who are the perfect fit.</p>
<p>After all, companies are made up of people from different backgrounds so there will always be a subculture to the company culture. An effective HR manager/recruiter will invite someone who can contribute to the group dynamic and be at ease with the organizational values and structure, whether formal or informal.</p>
<p>When one can empathize with other persons because they have similar goals, feelings, values, and experiences, an adversarial mindset can soften into a more open and hospitable one.</p>
<p>Other approaches that increase trust and healthy competition include having well-defined pay structures, active leadership, communication channels, and growth opportunities. At the bare minimum, investing in one’s HR and recruitment process can help engage employees, build trust, and ultimately, help businesses achieve their goals.</p>',
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'description' => 'Meiji Holdings Co. Ltd. (Meiji), the leading chocolate manufacturer in Japan, announced on February 9, 2024 that it had reinvested an undisclosed amount in the cell-cultured cocoa and coffee producer California Cultured Inc., which was founded in 2021. ',
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'content' => '<p><strong>Meiji Holdings Co. Ltd. (Meiji)</strong>, the leading chocolate manufacturer in Japan, announced on February 9, 2024 that it had reinvested an undisclosed amount in the cell-cultured cocoa and coffee producer <strong>California Cultured Inc.</strong>, which was founded in 2021.</p>
<p> </p>
<p><strong><span style="font-family: helvetica; font-size: 18pt;">Why did Meiji invest in California Cultured? </span><br /><br /></strong>From its headquarters in West Sacramento, California Cultured makes cocoa in fermentation tanks, a climate-resilient approach that also addresses deforestation and labor exploitation. Its products have captured the palates of consumers, as well as chocolate makers.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-US-Jap-GP-WK4-Meiji-California.jpg" alt="" />
<figcaption class="image-caption">California Cultured Head of Strategy Steve Stearns</figcaption>
</figure>
<p>Enter Japanese conglomerate Meiji, which realized the value in the sustainable supply chain solution that California Cultured provides.</p>
<p>“Meiji’s collaboration with California Cultured involves the seamless integration of the startup’s cocoa powder, cultivated from cells rather than traditional cocoa beans, into an array of confectionery and wellness products tailored for both the US and Japanese markets,” <strong>California Cultured Head of Strategy Steve Stearns </strong>said in an interview with Indie Bio’s Green Queen.</p>
<p>Stearns further explained that California Cultured’s unique cocoa production process not only aligns with Meiji’s sustainable and environmental practices but also allows them to create wellness-enhancing chocolate products designed for consumer use.<strong><br /><br /></strong>As reported by Indie Bio, Meiji’s investment in California Cultured comes with a 10-year commercial partnership that incorporates the U.S. startup’s cocoa powder into several packaged goods distributed by Meiji.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>What does the future of the global Cacao industry look like?</strong></span><br /><br />Global consumption for cocoa products is expected to increase in the next few years until 2028.</p>
<p>According to Statista, revenues for the Chocolate Confectionary market is projected to reach $254.10 billion in 2024. Top markets include the United States, Indonesia, Japan, India, and Mexico. The same report predicted that the average consumption of cocoa and coffee per person will grow to 2.4kg per year.</p>',
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'title' => 'Mitsui's Quantum Leap to infuse $50 million in U.S. quantum computing company',
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'description' => 'Japanese conglomerate Mitsui & Co., Ltd. (Mitsui) recently invested $50 million in Colorado-based quantum computing company, Quantinuum, as part of the latter's $300 million equity fundraising endeavor, led by JPMorgan Chase and Honeywell, Quantinuum's majority shareholder. ',
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'content' => '<p>Japanese conglomerate <strong>Mitsui & Co., Ltd. (Mitsui)</strong> recently invested $50 million in Colorado-based quantum computing company, <strong>Quantinuum</strong>, as part of the latter’s $300 million equity fundraising endeavor, led by JPMorgan Chase and Honeywell, Quantinuum’s majority shareholder.</p>
<p>The strategic investment, announced in January 2024, is expected to catalyze Quantinuum’s objective of pioneering the world’s first fault-tolerant quantum computer while diversifying its suite of leading quantum software offerings.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-US-Jap-GP-WK4-Mitsui-Quantinuum-Colorado.jpg" alt="" />
<figcaption class="image-caption">Mitsui & Co. Representative Director, Executive Vice President, and Chief Digital Information Officer Yoshio Kometani (left) and Quantinuum Chief Operation Officer Tony Uttley (right)</figcaption>
</figure>
<p>The investment comes after the recent G7 summit held in Hiroshima, Japan, where both <strong>Japanese Prime Minister Fumio Kishida</strong> and <strong>U.S. President Joe Biden </strong>reaffirmed their commitment to close cooperation in the areas of quantum technology and artificial intelligence.</p>
<p>“We are deepening our cooperation on emerging technologies, including new partnerships between the United States and Japanese companies in areas like quantum computing,” President Biden told summit participants, according to the Japan Times.</p>
<p>In a joint press release with Mitsui, <strong>Quantinuum CEO Rajeeb Hazra</strong> expressed his eagerness in the venture: “The confidence in our business demonstrated through this investment by our longstanding strategic partners and industry leaders is a clear indication of the value we will continue to create.”</p>
<p>Beyond the investment, the partnership between Mitsui and Quantinuum extends to a distribution agreement that will facilitate the U.S. company’s entry into the Japanese and broader Asia-Pacific markets.</p>
<p>Leveraging Mitsui’s experience across diverse global industries, the collaboration aims to market Quantinuum’s knowledge, know-how, and solutions to advanced users already harnessing the power of quantum computing. Initial offerings will focus on the quantum cybersecurity domain.</p>
<p>By integrating Mitsui’s experience in a wide range of global industries and Quantinuum’s advanced quantum computing technology, both entities are poised to accelerate the development of quantum computing use cases, create innovative business models, and augment existing customer offerings.</p>
<p><br /><strong><span style="font-family: helvetica; font-size: 18pt;">How big is the quantum computing industry? </span><br /><br /></strong></p>
<p><strong>Boston Consulting Group </strong>projects that the quantum computing industry will become a $450-$850 billion industry by the end of 2035 and will grow in sectors such as healthcare, financial services, cybersecurity, material development, and logistics.</p>
<p> </p>',
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'description' => 'The vision of high-speed rail slicing through the heart of Texas, connecting Houston and Dallas in a swift 90-minute journey, gained fresh momentum early this year following the U.S. federal government's decision to grant $500,000 to the proposed rail project, according to the national passenger rail company Amtrak.',
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'content' => '<p>The vision of high-speed rail slicing through the heart of Texas, connecting Houston and Dallas in a swift 90-minute journey, gained fresh momentum early this year following the U.S. federal government’s decision to grant $500,000 to the proposed rail project, according to the national passenger rail company <strong>Amtrak</strong>.</p>
<p>This ambitious project, led by private-sector firm <strong>Texas Central</strong> and backed by Japanese <em>shinkansen</em> (bullet train) technology aims to transform travel in the southern United States.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-US-Jap-GP-WK4-Texas-Bullet-Train.jpg" alt="" />
<figcaption class="image-caption">Amtrak Senior Vice President of High-Speed Rail Development Programs Andy Byford</figcaption>
</figure>
<p>“If we are going to add more high-speed rail to this country, the Dallas to Houston Corridor is a compelling proposition and offers great potential,” said <strong>Amtrak Senior Vice President of High-Speed Rail Development Programs Andy Byford</strong>.</p>
<p>“We believe many of the country’s biggest and fastest-growing metropolitan areas, like Houston and Dallas, deserve more high quality high-speed, intercity rail service and we are proud to bring our experience to evaluate this potential project and explore opportunities with Texas Central so the state can meet its full transportation needs,” Byford added.</p>
<p>Meanwhile, <strong>Texas Central CEO Michael Bui </strong>said, “This high-speed train, using advanced, proven <em>shinkansen</em> technology, has the opportunity to revolutionize rail travel in the southern U.S., and we believe Amtrak could be the perfect partner to help us achieve that.”</p>
<p>With the potential to alleviate congestion and reduce carbon emissions, the project aligns with President Joe Biden's focus on rail infrastructure to combat climate change and stimulate job growth.</p>
<p>However, challenges loom large. The project has encountered delays and cost escalations, prompting a shift from reliance solely on private funding to seeking public-private partnerships. Cultural barriers also persist, as Texans accustomed to car-centric lifestyles may require persuasion to embrace rail travel.</p>
<p>Nevertheless, the allure of a swift and efficient connection between two bustling metropolises resonates strongly. As momentum builds and stakeholders collaborate, the Texas high-speed rail project stands poised to redefine transportation in the region, signaling a bold leap into a more connected and sustainable future.</p>',
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'id' => '545633',
'title' => 'Wearing the leadership hat: Women in business',
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'description' => 'White. Male. Over 40. This profile perfectly describes the C-suite in many American companies. USA Today reports that in 2023, 88.8% of CEOs, CFOs, and COOs of Fortune 500 companies were white men. Thankfully, there is a cultural shift toward accepting more female leaders in business. ',
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'content' => '<p>White. Male. Over 40. This profile perfectly describes the C-suite in many American companies. USA Today reports that in 2023, 88.8% of CEOs, CFOs, and COOs of Fortune 500 companies were white men.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-5-GP-Sally-Hargis.jpg" alt="" />
<figcaption class="image-caption">Ozarks Coca-Cola and Dr. Pepper Bottling Co. Vice President and Chairman Sally Hargis</figcaption>
</figure>
<p>Thankfully, there is a cultural shift toward accepting more female leaders in business. And why not? With companies focusing more on diversity, inclusion and empowerment, women are ready to redefine how to be competitive in the corporate world.</p>
<p>The internet provides an unlimited source for female role models in various industries. Fueling the generational and cultural shifts are a slew of Gen Z and millennial yuppies who are raised with the ideals of equality and social responsibility – not simply profit maximization.</p>
<p>Missouri youth don’t need to look any further as inspiration comes in the form of <strong>Ozarks Coca-Cola/ Dr. Pepper Bottling Co.</strong> <strong>Vice President and Chairman Sally Hargis, </strong>whose leadership approach can be described as “human-centric” as it centers on employee and community engagement.</p>
<p>“I think all business is personal. When you can develop those personal relationships with people, you gain a better understanding of what their needs are and what they’re looking for,” Hargis said in an interview with Biz417 magazine.</p>
<p>Gender equality in business has been a more prominent theme over the years. The increasing number of female executives is a sign of progress. However, its twin issue is in the form of wage inequality due to gender biases – a challenge that will only further strengthen women’s resolve for their space in the corporate world.</p>',
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'description' => 'Bangladesh Prime Minister Sheikh Hasina, daughter of the nation's founding leader and its first president, Sheikh Mujibur Rahman, has led the country consolidating her legacy deeply rooted in the struggle for independence and economic progress.',
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'content' => '<p><strong>Bangladesh Prime Minister Sheikh Hasina</strong>, daughter of the nation’s founding leader and its first president, Sheikh Mujibur Rahman, has led the country consolidating her legacy deeply rooted in the struggle for independence and economic progress.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-5-BANGLA-Sheik-Hasina.jpg" alt="" />
<figcaption class="image-caption">Bangladesh Prime Minister Sheikh Hasina</figcaption>
</figure>
<p>Her leadership is marked by a commitment to advancing the rights and opportunities of women and children, recognizing their pivotal role in shaping Bangladesh's trajectory toward prosperity.</p>
<p>The present government under Sheikh Hasina's guidance has embarked on various initiatives aimed at ensuring the holistic development of women and children in Bangladesh. Through comprehensive policies and programs, her administration has prioritized education, healthcare, and economic empowerment for women, laying the foundation for a more inclusive and equitable society.</p>
<p>Central to Hasina's vision are the ambitious goals outlined in Vision 2041, which aim to propel Bangladesh towards becoming a high-income country. Integral to these visions is the recognition of women's empowerment as a catalyst for national development. Women's engagement in political and economic activities is considered not only a fundamental right but also a strategic imperative for driving transformative change.</p>
<p>Addressing the 78th United Nations General Assembly in September 2023, Hasina reiterated her unwavering commitment to advancing gender equality and women's empowerment on a global scale. She emphasized the need to enhance partnerships across sectors to mainstream gender equality and called upon the private sector to play a more proactive role in advancing women's participation at all levels.</p>
<p>"We must enhance our partnership base to make gender equality a norm across all sectors. The private sector needs to come forward to advance women's participation at a higher level. As leaders, we need to engage with them and encourage them to take bold initiatives in that regard," she affirmed.</p>
<p>Hasina's leadership underscores the importance of solidarity among women leaders worldwide in championing gender equality and women's rights. While acknowledging the diversity among nations, she emphasized the universal commitment to achieving a gender-equal world, stressing that no country should backtrack on its pledge to promote women's empowerment.</p>
<p>"As women leaders, we have a responsibility to stand by all women and create examples that can guide others. We must leverage our position and power to achieve a gender-equal world," she stressed.</p>
<p>In Bangladesh, Hasina's government translated these principles into concrete action through the implementation of progressive policies and targeted interventions. Measures such as increased access to education for girls, healthcare services for women and children, and economic opportunities through microfinance and entrepreneurship programs have contributed to tangible improvements in the lives of millions.</p>
<p>Hasina's administration has actively promoted women's participation in decision-making processes at all levels of governance, ensuring their voices are heard and their contributions valued in shaping policies and programs that affect their lives.</p>',
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'description' => 'The 48th lieutenant governor of Illinois, Juliana Stratton, has made significant strides, etching her name in history not only as the fourth woman to hold the position but also as the first African-American woman to do so. Her tenure, spanning nearly half a decade, has been marked by a relentless commitment to public service and transformative leadership. ',
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'content' => '<p>The 48th lieutenant governor of Illinois, <strong>Juliana Stratton</strong>, has made significant strides, etching her name in history not only as the fourth woman to hold the position but also as the first African-American woman to do so. Her tenure, spanning nearly half a decade, has been marked by a relentless commitment to public service and transformative leadership.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-5-GL-Julliana-Stratton.jpg" alt="" />
<figcaption class="image-caption">Illinois Lieutenant Governor Juliana Stratton</figcaption>
</figure>
<p>In her multifaceted role, Lt. Governor Stratton has championed initiatives aimed at empowering women economically and fostering a robust teacher workforce pipeline. Additionally, she has chaired the military-economic development committee, demonstrating her prowess in driving strategic initiatives forward.</p>
<p>For her visionary leadership, she is getting recognized with the lifetime achievement award this year in the 5th Annual Rich Township Black History Awards Gala - the largest event of its kind in Illinois, joined by over 700+ business leaders, elected officers, and civic leaders.</p>
<p>Last fall, she led a delegation comprised predominantly of women to the 53rd Annual Midwest U.S-Japan Association Conference in Tokyo, where she highlighted Illinois’s newfound strength as a growing green economy equipped to contribute to the global clean energy revolution.</p>
<p>In light of the Illinois Climate and Equitable Jobs Act passed by Stratton’s administration, which ensures aims to achieve 100% carbon-free power by 2045, and the Reimagining Energy and Vehicles (REV) Program that incentivizes EV production, the state aims to reinvigorate its decades-long strength in manufacturing and capitalize on its central location and highly skilled workforce to embrace EV manufacturing.</p>
<p>“The Japanese are interested in the fact that we are on the path of a 100-percent clean energy future,” Stratton was quoted shortly after the event. During the conference, she also highlighted the interest of major Japanese automotive manufacturers like Mitsubishi and Toyota in working with Illinois to help the state achieve the goal of one million EVs on the road by the end of 2030, signaling a paradigm shift in transportation and environmental sustainability.</p>
<p>Stratton and her delegation have been instrumental in pushing Illinois’s business attractiveness to the Japanese – one of the state’s top foreign investment partners – especially the qualifications and skills of its workforce. The Climate and Equitable Jobs Act dedicates more than $80 million annually to developing the efficiency of workers in the solar and energy efficiency industries. “We have the best job force for the jobs of tomorrow,” Stratton said.</p>
<p>Stratton’s confidence in fulfilling her administration’s “commitment to cleaner, greener energy and travels across the state so that all communities can see and feel the impact,” making her the latest champion in Illinois’s energy transition efforts.</p>',
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'title' => 'Why Japan matters to Indiana according to the head of Knox County, Indiana ',
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'description' => '"Why are focused visits like these vital to Indiana, and particularly to Southern Indiana?" This was the question posed by Knox County Indiana Economic Development CEO Christopher Pfaff in a LinkedIn article posted on February 18, 2024 as he shared his experience when he joined a week-long trade mission in Japan. ',
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'content' => '<p>“Why are focused visits like these vital to Indiana, and particularly to Southern Indiana?” This was the question posed by <strong>Knox County Indiana Economic Development CEO Christopher Pfaff </strong>in a LinkedIn article posted on February 18, 2024 as he shared his experience when he joined a week-long trade mission in Japan.</p>
<p>GMI POST highlights three points the CEO made in that article wherein he spoke about the importance of trade mission trips. </p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>1. Mission trips help sustain Indiana’s positive relationships with its Japanese investors. </strong></span></p>
<p><strong> </strong></p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-US-Jap-GL-WK3-Indiana.jpg" alt="" />
<figcaption class="image-caption">Knox County Indiana Economic Development CEO Christopher Pfaff</figcaption>
</figure>
<p>According to Pfaff, Indiana has the highest concentration of foreign direct investment in the United States from Japanese companies. He explained that mission trips maintain positive relationships with Japanese companies and executives that have already invested heavily in Indiana.</p>
<p>Pfaff also points out that foreign-owned companies in Indiana employ more than 200,000 workers across the state. That number includes the more than 300 Japanese companies in Indiana, which employ more than 55,000 people.</p>
<p>“Many of these Japanese companies are international brand names, including Subaru Corp., Toyota Motor Corp., Honda Motor Co., and Hitachi Ltd. As one can imagine, there exists intense competition from many states and regions that would love to have these companies and jobs in their area. Through consistent performance and delivery, Indiana is winning. The state has fashioned and earned a stellar reputation for successful investments,” said Pfaff.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>2. Mission trips enable continuous improvement (<em>kaizen</em>)</strong></span></p>
<p> </p>
<p>“Traveling to see and meet with Japanese investors adds important dimensions and nuances,” said Pfaff, who added that by visiting world-leading urban centers, economic developers and public officials experience firsthand how their foreign counterparts build competitive cities.</p>
<p>Pfaff also praised Japan’s collective ability to effectively weave technology, business, climate conservation, and culture into their urban settlements, buildings, and workplace environments.<strong> </strong></p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>3. </strong><strong>Missions trips show that you care</strong></span></p>
<p><strong> </strong></p>
<p>“The Knox County local government participation also sends an important message: Our local officials care enough about the substantial multi-million-dollar investments in southern Indiana that they will personally take the time, energy and funds to visit in-person,” said Pfaff. <br /><br />According to the CEO, the good impression and the good relationship that you are able to create through physical interactions are important considerations that cannot be understated. <br /><br />“For certain, economic development, and especially international economic development, is a contact sport,” Pfaff said.</p>
<p><strong><em><a href="https://knoxcountyindiana.com" target="_blank" rel="noopener">https://knoxcountyindiana.com</a></em></strong></p>',
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'title' => 'Panasonic Energy invests around $4 billion in De Soto, Kansas',
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'description' => 'Panasonic Energy, a Japanese maker of batteries for electric vehicles and a major supplier to Tesla, is converting a former U.S. Army ammunition plant in the city of De Soto, Kansas into a $4 billion lithium-ion battery manufacturing facility.',
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'content' => '<p><strong>Panasonic Energy</strong>, a Japanese maker of batteries for electric vehicles and a major supplier to Tesla, is converting a former U.S. Army ammunition plant in the city of De Soto, Kansas into a $4 billion lithium-ion battery manufacturing facility.</p>
<p>In an interview with Nikkei Asia, <strong>De Soto Mayor Rick Walker</strong> expressed his excitement about the vast 5.5 million square feet factory going up on his city's outskirts.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-US-Jap-GP-WK3-Panasonic-Energy.jpg" alt="" />
<figcaption class="image-caption">De Soto Mayor Rick Walker (left) and Kansas City Area Development Council President and CEO Tim Cowden (right)</figcaption>
</figure>
<p>“The City of De Soto is thrilled to work with Panasonic and welcome them to our amazing community. De Soto has a rich history of supporting critical manufacturing facilities and we have been planning for this growth and the return of advanced manufacturing jobs to this area for years. We're especially excited for the opportunity to invest in the renewable energy industry and provide strong jobs for generations to come,” De Soto said.</p>
<p>The new Panasonic plant, which plans to begin mass production by March 2025, is expected to create 4,000 direct jobs in the city of 6,200 people.</p>
<p>“We want to bring back that job center that we had, that we've always had, that will help to drive and make our community thrive,” the mayor said.</p>
<p>The De Soto Plant will be Panasonic's second battery factory in the United States, where it is Tesla’s biggest supplier. The plant will produce 30 gigawatt-hours worth of EV batteries per year, roughly equivalent to 550,000 units of Tesla's popular Model 3, although Panasonic is planning to supply other customers from the plant as well.</p>
<p>In a press release to local media, <strong>Kris Takamoto, Executive Vice President of Panasonic Energy, Head of EV Battery Business</strong> said, “Expanding production capacity in Kansas will enable us to continue delivering the highest quality batteries for our automotive partners as demand grows.”</p>
<p>“We are already producing more than five million battery cells a day in North America, and the new facility in Kansas will further grow our capacity, efficiency and economies of scale which are critical to a net-zero emissions future,” Takamoto said.<br /><br />Meanwhile, <strong>Kansas City Area Development Council President and CEO Tim Cowden </strong>also expressed his support for the project: “We are incredibly proud to stand shoulder-to-shoulder with Panasonic as they revolutionize the global transportation industry from the center of the most dynamic economy in the world.”</p>
<p>“The Kansas City region, just as it has over the past century, is cementing its rightful place as a leader where transit innovation is occurring,” he said.<br /><strong><br /><em><u><a href="https://thinkkc.com" target="_blank" rel="noopener">https://thinkkc.com</a></u></em></strong></p>',
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'title' => 'Japanese chipmaker Renesas to buy U.S.-based electronics design firm Altium',
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'description' => 'In a press statement released last January 11, Japanese semiconductor manufacturer Renesas said it will acquire electronics design firm Altium for $5.9 billion in cash in line with its plans to offer digital device design to customers.',
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'content' => '<p>In a press statement released last January 11, Japanese semiconductor manufacturer <strong>Renesas</strong> said it will acquire electronics design firm Altium for $5.9 billion in cash in line with its plans to offer digital device design to customers.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-US-Jap-GL-WK3-Renesas.jpg" alt="" />
<figcaption class="image-caption">Renesas CEO Hidetoshi Shibata</figcaption>
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<p>"As long as we remain a traditional device manufacturer, we will only be marginalized," said <strong>Renesas CEO Hidetoshi Shibata </strong>at a news conference as he explained the need for the company to adapt to new technology and offer new products and services.</p>
<p>According to a report by Reuters, the acquisition places Renesas at the forefront of deal-making and investment in Japan's semiconductor industry, with the Japanese government making efforts to improve competitiveness and boost supply chain resilience against geopolitical shocks.<br /><br />Meanwhile, <strong>Altium CEO Aram Mirkazemi </strong>told local media that Renesas acquisition will help his company execute plans at a faster pace. <br /><br />Headquartered in the United States and listed in Australia, Altium booked sales of $263 million in the year ended June with earnings before interest, tax, depreciation and amortization (EBITDA) margin of 36.5%.</p>
<p>Reuters reported that Renesas offered Altium 68.50 Australian dollar per share (about $48.76) and said it would finance the purchase with cash on hand and bank loans. The same report said the deal was approved by the board of both companies but still required approval from Altium shareholders and an Australian court. Renesas said it expects the deal to close in the second half of 2024.</p>
<p><strong> </strong><strong><em><a href="https://www.renesas.com/jp/ja" target="_blank" rel="noopener">https://www.renesas.com/jp/ja</a> </em></strong></p>',
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'title' => 'How did an Illinois suburb attract $1.2 billion in investments and create more than 5,000 new jobs?',
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'description' => 'Lake County, a suburban region northeast of Chicago, has witnessed an economic boom in recent years. The area attracted over $1.2 billion in direct capital investment in the last five years, generating more than 5,000 new jobs. It is already home to the second-largest concentration of Fortune 500 companies' headquarters in the Midwest. ',
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'content' => '<p>Lake County, a suburban region just north of Chicago, has witnessed an economic boom in recent years. The area attracted over $1.2 billion in direct capital investment in the last five years, generating more than 5,000 new jobs.</p>
<p>It is already home to the second-largest concentration of Fortune 500 companies’ headquarters in the Midwest, and is also known for its immense talent pipeline and thriving life science and advanced manufacturing industries.</p>
<p>Between 2018 and 2021, gross GDP grew 9.6% to $69.7 billion. Forecasts indicate continued growth, with GDP rising by 21.8% and employment growing by more than 10,000 new jobs by 2027.</p>
<p>At the helm of this economic success is the region’s economic development corporation <strong>Lake County Partners</strong> led by <strong>President and CEO Kevin Considine</strong>. In a conversation with GMI POST, Considine highlights three key strategies that helped Lake County continue its growth momentum.</p>
<p> </p>
<p><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-4-GL-Illinois-Cosidine-2.jpg" alt="" /></p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Strategy 1: Focus on skilled workforce development</strong></span></p>
<p>Lake County prioritizes building a strong talent pipeline, said Considine as he explained that their efforts “start early” by aligning education and training initiatives with industry needs.</p>
<p>“We have got a deep set of talent here, especially in advanced manufacturing and life sciences,” Considine said. To foster this advantage, Lake County focuses on early engagement, working with middle school students to spark interest in these fields. </p>
<p>“We ensure students have significant exposure to what the industry is all about to develop their interests, skills, and careers systematically. Building this pipeline is the focus of our workforce development efforts,” he said.</p>
<p>There are nearly 14,500 Lake County high school students participating in career pathway training across the fields of manufacturing, healthcare and information technology. Manufacturing makes up the largest percentage of participants, with more than 8,000 students.</p>
<p>For the existing workforce, Considine emphasizes reskilling and upskilling to be more competitive.</p>
<p>“As the manufacturing heart of the United States, we ensure our workforce is adapting to trends like automation, AI, and sustainable practices. We help them understand the use case of advanced technology while ensuring they are environmentally conscious,” he also said.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Strategy 2: Nurture investor relationships</strong><strong> </strong></span></p>
<p>Foreign investment plays a major role in Lake County’s economy, with Japan being a particularly valued partner. With over 25 Japanese-owned businesses operating successfully in the region, Considine said he considers Japan a critical investment partner.</p>
<p>“As the second-largest international investor in our region, we are grateful for our relationship with Japan. We thank all the Japanese businesses who chose to call Lake County their home,” he said.</p>
<p>However, building an attractive business environment goes beyond financial considerations. Lake County strives to create a welcoming community for investors and their families.</p>
<p>“It’s never just business,” said Considine, highlighting the region’s focus on providing amenities that ensure investors “feel at home.”</p>
<p>In addition, Considine underscores the importance of maintaining these relationships through consistent presence.</p>
<p>Commenting on his latest trip to Japan last fall to celebrate the 50th anniversary of the sister city agreement between Osaka and Chicago, Considine said, “We want the Japanese community to know that Lake County is here for them and the biggest way to do so is to keep showing up at all occasions.”</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Strategy 3: Develop competitive infrastructure </strong></span></p>
<p>For Considine, a successful business environment demands strong infrastructure. Lake County benefits from its strategic location near O’Hare International Airport, the world’s most connected airport. It also offers convenient interstate connectivity, which ensures that “businesses can move goods and people at all times.”</p>
<p>Reliable and affordable utilities are another essential factor for business success. “Our business sites are built on the foundation of reliable utilities which are available at a fraction of the cost compared to other locations,” Considine said.</p>
<p>Amid a boom in manufacturing, Lake County has employed nearly 100,000 locally, or one for every seven jobs. To meet the demand for talent, local leaders are investing in education.</p>
<p>There is no better example than the College of Lake County’s (CLC) new Advanced Technology Center, which is the crown jewel of manufacturing workforce development. CLC now has over 1,000 students in manufacturing programs, and the number stands to grow in the coming years. </p>
<p>“We have a strong workforce ecosystem that is focused on bringing innovation and automation to Lake County’s manufacturing industry, and making sure that businesses can find the people that they need to thrive, said Considine, whose confidence in Lake County’s future is clear.</p>
<p>“Lake County will unquestionably be the best place for people to grow their businesses and careers in the upcoming years,” he added.</p>
<p><em><strong><a href="https://www.lakecountypartners.com/" target="_blank" rel="noopener">https://www.lakecountypartners.com</a></strong></em></p>',
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'description' => 'Tenstorrent CEO Jim Keller, who worked for Intel, AMD and Tesla, said in an interview with Nikkei Asia that he wants to lower the price of AI applications by designing chips that are more efficient than Nvidia's and, in the process, end the American giant's global market dominance.',
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'content' => '<p><strong>Tenstorrent CEO Jim Keller</strong>, who worked for Intel, AMD and Tesla, said in an interview with Nikkei Asia that he wants to lower the price of AI applications by designing chips that are more efficient than Nvidia's and, in the process, end the American giant’s global market dominance.</p>
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<figcaption class="image-caption">Tenstorrent CEO Jim Keller (Photo source: Tenstorrent)</figcaption>
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<p>Headquartered in Toronto, Tenstorrent has offices in Austin, Texas and Santa Clara, California, as well as in Belgrade, Tokyo, Bangalore, and Seoul. The company claims to be developing AI processors that perform as efficiently as Nvidia's AI GPUs but at a lower cost.</p>
<p>At present, Nvidia is the global market leader when it comes to AI chips. Its AI accelerators command between 70% and 95% of the global market share, according to CNBC.</p>
<p>Keller also said in the interview that Tenstorrent hopes to sell its second-generation multipurpose AI chip by the end of this year.</p>
<p>According to Keller, Tenstorrent can achieve its objective because it does not use high-bandwidth memory (HBM), a popular type of advanced memory chip capable of transferring large amounts of data quickly. HBM is a vital component for generative AI chips and has played a significant role in the success of Nvidia's offerings.</p>
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<p>"Even the people that use HBM struggle with the cost of it, [and] the design time to build it,” he said.</p>
<p>By doing away with HBM, Tenstorrent will design a chip that can replace both GPUs and HBMs in some areas of AI development, adding that its new product will be "as cost-effective as possible".</p>',
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'content' => '<p>Tokyo-based trading giant <strong>ITOCHU</strong> secured a contract to develop and test AI systems that will help run the transportation network and energy infrastructure of a future smart city project in southern Taiwan, according to a company press release.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-13-ITOCHU-Taiwan.jpg" alt="" />
<figcaption class="image-caption">ITOCHU plans to roll out AI-powered buses for Taiwan's new smart city project in Tainan. (Photo source: Nikkei Asia)</figcaption>
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<p>ITOCHU outbid other parties interested in the Integrated Development Project for Shalun Smart Green Energy Science City located in Tainan. The early-stage contract, according to Nikkei Asia, is worth around $332,000 (10.8 million New Taiwan dollars).</p>
<p>According to ITOCHU, the goal is to test its AI systems on a trial basis by the end of October. This is the first time the trading house has officially participated in an overseas smart city project.</p>
<p>The Taiwanese government also announced plans to earmark an additional $306.9 million (or 10 billion NTD) to develop the country’s artificial intelligence (AI) industry. In line with this goal, ITOCHU will collaborate with various Taiwanese partners, including IT company Accton Technology and National Cheng Kung University.</p>
<p>Home to the world's largest semiconductor maker, Taiwan Semiconductor Manufacturing Company (TSMC), Taiwan has a global market share of 61.7%. CNN estimates that TSMC produces 90% of the world's super-advanced semiconductor chips, which are used to power everything from smartphones to artificial intelligence applications.</p>',
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<figcaption class="image-caption">Melexis' new 70 million-euro facility in Kuching is a nod to the local architectural design. (Photo source: Melexis)</figcaption>
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<p>Wafer testing is part of the manufacturing process wherein all individual integrated circuits are checked for functional defects through special test patterns.</p>
<p>According to Melexis, its expansion in Malaysia is a strategic move to streamline logistics and reduce its ecological footprint. Additionally, it selected Kuching because of its diverse, multilingual, entrepreneurial and highly skilled workforce.</p>
<p><strong>Melexis CEO Marc Biron </strong>said, “With an investment of 70 million euros, this opening underscores the ambition of Melexis and will ensure future growth. With Melexis, we are at the forefront of innovation, and this opening will support us in the markets that we serve.”</p>
<p>The new four-storey building, a collaboration of award-winning Belgian architect Sebastian Mortelmans and local architectural firm DNA, covers a ground surface of 4,500 sq. m., making it the company’s largest wafer testing site worldwide. The modern design evokes local longhouse architecture, incorporates advanced energy-saving systems, like a solar installation that can generate 30.000 kWh per month, and minimizes its environmental impact.</p>
<p>“Melexis has made the right choice to invest in Sarawak. With political stability, Sarawak is business-friendly and welcomes investments that can create mutual benefits. The Sarawak government has always been very supportive of investors both foreign and domestic. It is among the most preferred destinations for investment in Malaysia,” <strong>Sarawak’s Ministry of International Trade, Industry and Investment </strong>said in a statement<strong>.</strong></p>
<p>“Sarawak possesses many comparative advantages for businesses to grow and prosper such as strategic location, availability of green energy, talented workforce, and suitable land for industrial activities,” the statement also said.</p>',
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'content' => '<p>Japanese trading giant <strong>ITOCHU</strong> announced this month it had invested in <strong>ZeroAvia</strong>, a British-American maker of hydrogen-electric engines for aircraft, according to a company statement.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-13-Itochu-ZeroAvia.jpg" alt="" />
<figcaption class="image-caption">An aircraft powered by ZeroAvia's hydrogen-electric engines (Photo source: ZeroAvia)</figcaption>
</figure>
<p>Founded in 2018, ZeroAvia describes itself as “a team of passionate innovators dedicated to bringing safe, zero-emission flight to aviation.” The company claims its hydrogen-electric propulsion systems are “the most environmentally friendly and economically attractive solution to aviation’s growing climate change impact.”</p>
<p>According to ZeroAvia, its hydrogen-electric engines cut more than 90% of harmful emissions, lower operating costs by more than 40%, improve air quality and reduce noise pollution in airport communities.</p>
<p>Under the deal, ITOCHU will serve as ZeroAvia's distributor in Asia, marking its first investment in a developer of hydrogen engines for aircraft and a further expansion into the aviation industry. ITOCHU is part of Japan Aerospace, which is involved in aircraft sales, and of JAMCO, which manufactures materials for aircraft interiors.</p>
<p>According to ITOCHU, this recent investment is part of the company’s long-term goal of helping save the planet by decarbonizing the aviation industry.</p>',
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<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-13-Virginia.jpg" alt="" />
<figcaption class="image-caption">Fairfax County Economic Development Authority President and CEO Victor Hoskins (Photo source: Fairfax County Economic Development Authority)</figcaption>
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<p>“Congratulations to Virginia on being named America’s Top State for Business in 2024 by CNBC, a record six times achieving that designation. I know that Virginia succeeds because of our shared belief that collaboration and innovation yield great results for our businesses and their employees,” said <strong>Fairfax County Economic Development Authority President and CEO Victor Hoskins</strong>.</p>
<p>Virginia ranks in the top half or better in each of the study’s 10 categories this year, “a rare feat,” noted CNBC. The state landed in the top 10 in four additional categories: infrastructure (3rd), business friendliness (5th), access to capital (8th) and workforce (9th).</p>
<p>For the first time, CNBC counted infrastructure (including the availability of shovel-ready sites) as the most important component for businesses when deciding on investment and cited the Virginia Business Ready Sites Program, as well as its world-class port, rail, roadway, and air transportation ecosystem as major contributors to the recognition.</p>
<p>CNBC’s annual ranking measures all 50 states on 128 different metrics in 10 key categories of competitiveness. North Carolina ranked second on the list, followed by Texas, Georgia and Florida.</p>
<p>Regarding Virginia’s economic relations with Japan, over $32.5 billion in capital investment has been made by Japanese companies in the last 5 years, according to the Virginia Economic Development Partnership, which also reports that Japanese companies employ more than 15,2000 people in the state.</p>',
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<figcaption class="image-caption">Michigan Gov. Gretchen Whitmer (center) with senior officers of FANUC America at its West Campus. (Photo source: FANUC America)</figcaption>
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<p>The new 650,000-square-foot facility was inaugurated on July 10 and is located in FANUC America’s West Campus in Auburn Hills, Michigan. The expansion increases the company’s footprint in Michigan to over 2 million square feet and is part of FANUC America’s plan to advance industrial automation in North America. The West Campus represents a $110 million investment built on 67 acres of land.</p>
<p>The facility, built on 270,000 square meters, has warehouse space to hold more than 6,000 robots and features automated systems for moving the robots in and out of the building, according to FANUC America.</p>
<p>"Our ongoing upward trajectory allows us to better support our customers with cutting-edge robotic and automation solutions, helping to drive more efficiency across all industries,” <strong>FANUC America CEO Michael Cicco </strong>said at the unveiling ceremony.</p>
<p>The Japanese company said it would have invested $250 million in North America since 2019 once this and other projects in its pipeline are completed. Currently, FANUC America has created over 400 jobs in Michigan.</p>',
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'content' => '<p><strong>K Health</strong>, a leading AI-driven primary care company that provides 24/7 virtual primary care solutions through its mobile app, announced this month that it had raised $50 million in funding led by Claure Group with participation from investors, including Pablo Legorreta (founder and CEO of Royalty Pharma) and Mangrove Capital Partners, Valor Equity Partners, and Atreides Management.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-12-NYNJ-K-Health-Alan-Bloch.jpg" alt="" />
<figcaption class="image-caption">K Health founder and CEO Allon Bloch (Photo source: K Health)</figcaption>
</figure>
<p>K Health said in the same statement that it had been developing its own AI technology for more than seven years. Today, it can provide 24/7 virtual primary care solutions to millions of people in the United States.</p>
<p>The K Health platform includes clinical-grade medical chat and AI predictive models based on large datasets to help physicians optimize diagnosis and treatment and focus on patient care.</p>
<p>Instead of doctors taking patients through lengthy procedures and manually piecing together their medical history from electronic medical records, K Health allows healthcare providers to engage more quickly and closely with patients by giving them a complete medical chart with patient insights straight from the app.</p>
<p>According to K Health, this new model of care delivery achieves dramatically higher quality of care at lower costs compared to traditional primary care.</p>
<p>“K Health solves the need to make primary care visits highly personalized by giving doctors AI superpowers that enable them to practice at the top of their license. Our primary care platform offers a concierge medical experience with an assigned provider and 24/7 access to care,” explained<strong> K Health founder and CEO Allon Bloch.</strong></p>
<p>“When partnered with leading health systems, this model creates significant benefits to access, clinical outcomes, and patient experience. All you need to get care is your health insurance, a stark contrast to concierge medicine services that typically cost thousands of dollars,” Bloch added.</p>
<p>Meanwhile, <strong>Claure Group</strong> <strong>Founder and CEO Marcelo Claure </strong>said: As I invest in the AI landscape, I have found it incredibly difficult to discover companies making tangible, real-world progress with AI. K Health is the first company I've seen successfully using AI to impact millions of lives. They are addressing some of healthcare's greatest challenges by providing accessibility to faster, higher-quality, lower-cost care on a large scale."</p>',
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'description' => 'Ontario-based multinational Lee Li Holdings (LLH) CEO Lee Q. Shim told Cambodian Prime Minister Hun Manet in a meeting at the capital Phnom Penh this month that his company was looking at investment opportunities in the country, including its automotive healthcare, gas and oil, food processing and logistics, automobiles, and exports accreditation sectors.',
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<figcaption class="image-caption">Cambodia Prime Minister Hun Manet (right) met with Lee Li Holdings President and CEO Lee Q. Shim (Ieft) in Phnom Penh this month. (Photo source: Office of the Prime Minister)</figcaption>
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<p>During the meeting, Manet pointed out that the <strong>Cambodia Chamber of Commerce</strong> had two representative offices in Canada (Toronto and Montreal) that promote bilateral trade and assist exporters and importers in their two countries.</p>
<p>“Shim’s visit will further contribute to the promotion of trade relations between Cambodia and Canada,” Manet said.<br /><br />The prime minister also encouraged Shim to pursue discussions with relevant ministries and agencies, such as the Ministry of Health, the Ministry of Mines and Energy, and Ministry of Commerce, adding that his government has supported the private sector by encouraging international investment in the country.</p>
<p>Canada is one of the largest investors in Cambodia and has brought in around $1.1 billion in foreign direct investment as of 2021, Cambodian socio-economic analyst Chey Tech told The Phnom Penh Post in an interview.</p>',
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'content' => '<p><strong>National University Hospital (NUH)</strong>, the main teaching hospital of the country’s top-ranking National University of Singapore, announced this month the opening of a center focused on providing trauma care to vulnerable groups, particularly children, older adults, and migrant workers.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-12-SG-NU-Hospital.jpg" alt="" />
<figcaption class="image-caption">Key representatives of NUH during the launch of the National University Centre for Trauma (Photo source: Singapore's National University Hospital)</figcaption>
</figure>
<p>According to the NUH, the center will use a code system to reduce the time between admission to the emergency department and the transfer to an operating theatre. Code Trauma involves the mobilization of all essential staff, including emergency physicians, nurses, surgeons, and anesthesiologists, to accelerate decision-making and response for patients with polytrauma or multiple injuries.</p>
<p>“The National University Centre for Trauma represents decades of efforts in refining our trauma care expertise for our injured patients to return to their lives and achieve their dreams. It also aims to prevent trauma from occurring in the first place with data-driven injury prevention efforts,” said <strong>National University Centre for Trauma Director Raj Menon.</strong></p>
<p>In line with this, the hospital has rolled out a multi-disciplinary clinic that provides services for recovering trauma patients and conducts meetings to enhance care, rehabilitation, and psychosocial recovery pathways.</p>
<p>Today, NUH has over 1,200 beds and serves more than 1 million patients a year with over 50 medical, surgical, and dental specialties. NUH is the only public and not-for-profit hospital in Singapore that provides care for adults, women and children under one roof, including the country’s only pediatric kidney and liver transplant program.</p>',
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'description' => 'Lake County, a suburban region northeast of Chicago, has witnessed an economic boom in recent years. The area attracted over $1.2 billion in direct capital investment in the last five years, generating more than 5,000 new jobs. It is already home to the second-largest concentration of Fortune 500 companies' headquarters in the Midwest. ',
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'content' => '<p>Lake County, a suburban region just north of Chicago, has witnessed an economic boom in recent years. The area attracted over $1.2 billion in direct capital investment in the last five years, generating more than 5,000 new jobs.</p>
<p>It is already home to the second-largest concentration of Fortune 500 companies’ headquarters in the Midwest, and is also known for its immense talent pipeline and thriving life science and advanced manufacturing industries.</p>
<p>Between 2018 and 2021, gross GDP grew 9.6% to $69.7 billion. Forecasts indicate continued growth, with GDP rising by 21.8% and employment growing by more than 10,000 new jobs by 2027.</p>
<p>At the helm of this economic success is the region’s economic development corporation <strong>Lake County Partners</strong> led by <strong>President and CEO Kevin Considine</strong>. In a conversation with GMI POST, Considine highlights three key strategies that helped Lake County continue its growth momentum.</p>
<p> </p>
<p><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-4-GL-Illinois-Cosidine-2.jpg" alt="" /></p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Strategy 1: Focus on skilled workforce development</strong></span></p>
<p>Lake County prioritizes building a strong talent pipeline, said Considine as he explained that their efforts “start early” by aligning education and training initiatives with industry needs.</p>
<p>“We have got a deep set of talent here, especially in advanced manufacturing and life sciences,” Considine said. To foster this advantage, Lake County focuses on early engagement, working with middle school students to spark interest in these fields. </p>
<p>“We ensure students have significant exposure to what the industry is all about to develop their interests, skills, and careers systematically. Building this pipeline is the focus of our workforce development efforts,” he said.</p>
<p>There are nearly 14,500 Lake County high school students participating in career pathway training across the fields of manufacturing, healthcare and information technology. Manufacturing makes up the largest percentage of participants, with more than 8,000 students.</p>
<p>For the existing workforce, Considine emphasizes reskilling and upskilling to be more competitive.</p>
<p>“As the manufacturing heart of the United States, we ensure our workforce is adapting to trends like automation, AI, and sustainable practices. We help them understand the use case of advanced technology while ensuring they are environmentally conscious,” he also said.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Strategy 2: Nurture investor relationships</strong><strong> </strong></span></p>
<p>Foreign investment plays a major role in Lake County’s economy, with Japan being a particularly valued partner. With over 25 Japanese-owned businesses operating successfully in the region, Considine said he considers Japan a critical investment partner.</p>
<p>“As the second-largest international investor in our region, we are grateful for our relationship with Japan. We thank all the Japanese businesses who chose to call Lake County their home,” he said.</p>
<p>However, building an attractive business environment goes beyond financial considerations. Lake County strives to create a welcoming community for investors and their families.</p>
<p>“It’s never just business,” said Considine, highlighting the region’s focus on providing amenities that ensure investors “feel at home.”</p>
<p>In addition, Considine underscores the importance of maintaining these relationships through consistent presence.</p>
<p>Commenting on his latest trip to Japan last fall to celebrate the 50th anniversary of the sister city agreement between Osaka and Chicago, Considine said, “We want the Japanese community to know that Lake County is here for them and the biggest way to do so is to keep showing up at all occasions.”</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Strategy 3: Develop competitive infrastructure </strong></span></p>
<p>For Considine, a successful business environment demands strong infrastructure. Lake County benefits from its strategic location near O’Hare International Airport, the world’s most connected airport. It also offers convenient interstate connectivity, which ensures that “businesses can move goods and people at all times.”</p>
<p>Reliable and affordable utilities are another essential factor for business success. “Our business sites are built on the foundation of reliable utilities which are available at a fraction of the cost compared to other locations,” Considine said.</p>
<p>Amid a boom in manufacturing, Lake County has employed nearly 100,000 locally, or one for every seven jobs. To meet the demand for talent, local leaders are investing in education.</p>
<p>There is no better example than the College of Lake County’s (CLC) new Advanced Technology Center, which is the crown jewel of manufacturing workforce development. CLC now has over 1,000 students in manufacturing programs, and the number stands to grow in the coming years. </p>
<p>“We have a strong workforce ecosystem that is focused on bringing innovation and automation to Lake County’s manufacturing industry, and making sure that businesses can find the people that they need to thrive, said Considine, whose confidence in Lake County’s future is clear.</p>
<p>“Lake County will unquestionably be the best place for people to grow their businesses and careers in the upcoming years,” he added.</p>
<p><em><strong><a href="https://www.lakecountypartners.com/" target="_blank" rel="noopener">https://www.lakecountypartners.com</a></strong></em></p>',
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How did an Illinois suburb attract $1.2 billion in investments and create more than 5,000 new jobs?
Lake County, a suburban region northeast of Chicago, has witnessed an economic boom in recent years. The area attracted over $1.2 billion in direct...
