Reflections on 2024 and Looking Ahead
By Lucas Witt Introduction As I reflect on 2024, I am filled with gratitude for our clients who trusted us to guide them through their economic development and commercial real estate decisions. This year, MWM Consulting (“MWM”) collaborated with more clients than ever before, thanks largely to referrals from our existing customers. We take pride […]
Berea’s Mayde Road Rail Site Joins CSX Select Site Program
Berea, Kentucky, a valued client of MWM Consulting, has recently achieved a significant milestone in its economic development efforts. The Mayde Road Rail Site, managed by the Berea Industrial Development Authority, has been added to CSX’s Select Site Program, recognizing the site’s potential for industrial development and strategic location along CSX’s extensive rail network. The […]
Preparing for Tomorrow, Today: Why Communities Need Strategic Reinvestment
Reinvestment Fuels Sustained Growth As an economic development consultant, I’ve seen firsthand how reinvestment fuels sustained growth. It sparks innovation by transforming productive assets into profits. Consider the ethos of ‘Shark Tank’—people praise entrepreneurs for reinvesting earnings into their ventures rather than taking large personal rewards. Why? Because seasoned investors know businesses need nurturing during […]
The Kentucky Tourism Development Act: Fueling Major Growth Across Kentucky
The Kentucky Tourism Development Act (KTDA) is powering massive investments and creating a new boom across the state. This incentive offers state tax credits up to 25% of capital costs for approved tourism projects. Let’s examine how KTDA is fueling growth and how your business can tap into these benefits. How KTDA Incentivizes Tourism Projects […]
KPDI: How a $100 Million Fund is Transforming Kentucky’s Economic Landscape
In a market where quality real estate is increasingly scarce, the Kentucky legislature is making a landmark investment that is set to change the game. Enter the Kentucky Product Development Initiative (KPDI), a $100 million initiative that aims to transform the state’s economic landscape by making it more appealing for businesses looking for “shovel-ready” sites. […]
The Complexities of Kentucky’s Barrel Tax
Finding Solutions to Sustain Growth The Complexity of Economic Growth and Public Revenue Kentucky faces a challenging situation as the rapid growth of its signature bourbon industry conflicts with proposed caps on ad valorem taxes on aging whiskey barrels. This situation exemplifies the intricate task of harmonizing economic development with the needs for public revenue. […]
The Site Selection Process
Our Step-By-Step Approach to Corporate Site Selection For companies looking to expand operations, selecting the optimal location is a complex but critical decision. At MWM Consulting, our expertise guides clients through every stage of the corporate site selection process. In this post, we’ll provide an insider’s view into the key phases we use to help […]
The AI Advantage: How Communities Can Strategically Embrace Artificial Intelligence
Strategic AI Insights for Economic Development As leaders in economic development consulting, we’re at the forefront of technological innovation. Artificial Intelligence (AI) isn’t just a buzzword—it’s a game-changer for community growth and economic development. This article dives deep into how AI is reshaping traditional community structures and offers pragmatic advice for harnessing its untapped potential. […]
Hitachi Astemo’s Major Expansion Validates Berea as a Manufacturing Hub.
Berea Solidifies Itself as Kentucky’s Next-Gen Automotive Hub Berea, Kentucky’s reputation as an emerging hub for advanced manufacturers, especially in the electric and hybrid vehicle sector, has once again been affirmed. Hitachi Astemo Americas recently announced a monumental $153 million investment to expand their current operations in Berea. This substantial capital infusion will allow Hitachi […]