Economic Development and Farm
In 1990, Ireland’s total work force was 1.1
million. This year it will hit two million, with no
unemployment and 200,000 foreign workers (including
Irelands economic development advice is very
- Make high school and college
- Make your corporate taxes low,
simple and transparent;
- Actively seek out global
- Open your economy to competition;
- Speak English
- Keep your fiscal house in order;
- Build a consensus around the whole package
with labor and management.
Then hang in
there, because there will be bumps in the road – and
you too, can become one of the richest countries in
”It wasn’t a miracle, we didn’t find gold.
It was the right domestic policies and embracing
globalization.” – Irish Economic Development Official.
Source: Financial Times, 2006
A recent OECD report shows that a simultaneous
reform involving a halving of trade protection and
domestic support across all sectors could potentially
generate USD 44 billion in welfare gains globally.
of these gains arise from agricultural reform and most
of these agricultural gains come from reform of
market access measures.
The report finds that almost all countries gain
Those with the highest levels of support and
protection would benefit most from such reforms.
The most efficient agricultural exporters would
gain significantly. But for many developing economies
the immediate benefits would be relatively small and
would be concentrated more in manufacturing than in
to Utah Farms||1995-2004 ($)|
|Total USDA Subsidies to
Utah Farms||$339,381,000 |
|1|| Weston Family Partnership,
|2||C V Ranches % Perkins Fm
Ptnsp, Bancroft, ID||$1,378,413|
|3||Holmgren L & L % J Holmgren,
|4|| Garn Farms,
|5||Cedar Valley Farms,
|6||Sandall Farm & Ranch Family
|7||E Ray Okelberry Joint
|8||N D Or R Grover Partnership,
Brigham City ||$1,100,693 |
|9|| Rudd Farms Partnership,
|10||Roundy Farms, Cache
|11||Ault Farms, American Fork
|13|| Wilson Brothers Livestock,
|14||Robert A Adams, Brigham
|15|| Double P Ranch,
|16||Frank L Rees Limited
|17||Triple C Farms, Holden
|18||Wm F Goring & Son Inc,
|19||Green Mountain Grain,
|20||Little Salt Creek Farms,
|Rank||USDA Subsidies in
Utah by County||Total Subsidies 1995-
2004||% of Total||Cumulative %
Best Places to Live 2006 - MONEY
magazine and CNN/Money
- Fort Collins, CO
- Naperville, IL
- Sugar Land, TX
- Columbia/Ellicott City, MD
- Cary, NC
- Overland Park, KS
- Scottsdale, AZ
- Boise, ID
- Fairfield, CT
- Eden Prairie, MN
10 Best Big Cities 2006 - MONEY magazine
- Colorado Springs, CO
- Austin, TX
- Mesa, AZ
- Raleigh, NC
- San Diego, CA
- Virginia Beach, VA
- Omaha, NE
- Columbus, OH
- Wichita, KS
- New York, NY
MONEY magazine and CNN/Money
Airport Retail Takes Flight
Airport retail has been a growing sector since
2001. Because of heightened security, travelers have
to show up at the airport earlier and have more time
to peruse in-terminal retail options. That success is
now inspiring developers at Dallas/Fort Worth
International and Denver International to think big--
big box, that is.
In what would be the first project of its kind in
the U.S., Dallas/Fort Worth International is in the
planning stages for a 600-acre mixed-use
development that would include up to 800,000-
square-feet of retail space. And Denver
International has already awarded a development
contract for a 17-acre site to build a mixed-use
complex that might eventually grow by an additional
The projects, which would include major big-box
category killers, are a way for airport operators to
generate revenue at a time when they can’t squeeze
more fees from the struggling U.S. airline
industry. “They are looking to not be so dependent
on what airlines can pay,” says Bruce F. Katz,
founder and president of San Francisco-based
consulting firm Retail Focus. The new projects, he
says, are just the most ambitious extension of a
move to develop non-airline revenue that has been
under way for 15 years.
It’s not just about snagging a few more bucks
from travelers with time to kill. At both Dallas/Fort
Worth and Denver, demand is expected to come from
nearby residents and airport employees. Denver
International employs about 30,000 workers, while
Dallas has approximately 57,000.
“The employees are there, they work long hours
and it would be convenient for them to leave
[without having to deal with a lot of security
procedures],” says Karen Bellantoni, senior vice
president with New York-based Robert K. Futterman
In the case of Dallas/Fort Worth, the airport is
attempting to develop a vacant property on its
southern tip tentatively called Passport Park. The
project would devote 125 acres of land to retail. The
airport’s management is hoping to bring in stores like
Target, Wal-Mart and PetSmart.
Dallas/Fort Worth officials have already met with
several developers to discuss the project and are
also considering building the complex in a joint
venture partnership that would allow the airport to
share in ownership revenues. The airport’s board of
directors has not yet granted approval on the
development, but Marcus Phillips, an officer with
Redwood Real Estate Partners LLC and one of the
people involved in the Denver International project,
believes that large-scale retail complexes at airports
will eventually become the norm.
“I think airports are becoming the center of
commerce and that’s definitely a wave that’s
happening,” he says. “The term aeropolitan
accurately reflects what’s going on. Airports are
beginning to be city centers.”
Redwood and its partner Denver-based CMCB
Development Co. have been chosen by Denver
International to develop the 17-acre land parcel
north of Pena Boulevard and about a mile away from
the airport’s main terminal. The Pena Project will
initially be much smaller than the Dallas/Fort Worth
development–it will include approximately 60,000-
square-feet of inline retail, a hotel and possible office
space–but the airport might eventually expand it to
encompass 500 acres along Pena Boulevard that it
has already identified for future commercial uses.
“DIA owns a large amount of ground and their
mission is to consistently drive non-airline revenues
upward, so they are absolutely planning to evaluate
the retail and commercial aspects of the airport,”
The challenge for Dallas/Fort Worth is that there
might not be enough residents close to the southern
tip of the airport right now to create a large enough
market for big box stores. Company executives have
said that the Passport Park development won’t come
on line for another two to three years, possibly giving
them time to come up with a mixed-use strategy
that would create the necessary retail demand.
“If they have 600 acres, they must create some
housing there – that would help them a lot,” Katz
says. “If there are not a lot of residents [at the
moment], they might develop this property in phases
to get [the demand] going.”
Katz believes that as long as the market
fundamentals are strong, big box tenants at airports
would make as much sense as any other kind.
“If there is enough population and the store
deployment is such that another location is
supportable, there is no problem putting anyone in,”
Source: Retail Traffic
Open your economy to competition?
How much are businesses and individuals subsidizing
- Qtr II GDP
- The U.S. second quarter advance GDP grew
at a somewhat weaker than expected 2.5%.
Weakness in growth was widespread in the second
quarter; personal consumption, capex and exports all
slowed, the latter two more than expected;
inventory investment remained low, private
residential investment fell for the first time in three
years. The core PCE deflator rose by 2.9% (q/q,
saar) and was up 2.3% from a year ago. On net,
today's report makes a pause more likely in
- US Economic Growth
- US economic growth slows to 2.5%
- Core prices up 2.9% in second quarter
- Chain Store Sales
- Chain store sales rose a slight 0.2% in the
week ending July 22, according to the ICSC. Year-
over-year growth dipped to 1.9%, another 17-month
low. On the plus side, demand reportedly
strengthened late in the week.
- MBA Mortgage Applications Survey
- Mortgage demand decreased last week, with
the market index falling 1.3% in the week ending July
21. Purchase applications decreased 2.4%, while
refinance applications increased 0.6%.
- Consumer Confidence
- The Conference Board index of consumer
confidence rose in July to 106.5, up just over a point
from a downwardly revised June level. The gain was
led by the expectations component of the index
although the present situation component also
- Oil and Gas Inventories
- Crude oil inventories held steady for the
week ending July 21, according to the Energy
Information Administration, against expectations of a
0.7 million barrel decline. Gasoline inventories,
however, plummeted 3.2 million barrels for the week,
soaring past expectation of 0.2 million barrel draw.
Refinery utilization also inched lower for the week.
This report will have a significant bullish impact on oil
- Durable Goods (Advance)
- New orders for durable goods rose 3.1% in
June. The increase was faster than what the
consensus forecast was expecting. May's increase
was revised up to a 0.3% increase from a 0.2%
decline. Core capital goods orders were weaker than
expected, rising by 0.4% over the month. Shipments
edged up only 0.1% and shipments of core capital
goods fell by 0.2%. The headline number was
boosted primarily by a surge in defense aircraft
- Existing Home Sales
- Sales of existing homes continue to decline,
with June’s 1.3% m/m drop in line with expectations.
Running at 6.62 million annualized units, sales are
also down on a year-ago basis by 8.9%. Median
house-price appreciation is slipping sharply on a year-
ago basis, with a gain of less than 1%. Inventories
hit another record and the months of supply is
nearing seven months. Conditions in the condo
market are deteriorating faster than in the market for
- New Home Sales (C25)
- Sales of new homes are slowing even more
quickly than anticipated. According to Census, new
home sales are down to 1.13 million annualized units
in June, a m/m decline of 3% and an 11% drop y/y.
Moreover, Census revised downward the April and
May readings. Nonetheless, second quarter home
sales are up compared to the first quarter.
- Employment Cost Index
- Employer costs rose 0.9% in the second
quarter of 2006, above expectations of a 0.8%
increase. A surprise acceleration in wage costs to
0.9% for the second quarter drove the rise in total
compensation costs. Benefit costs growth also
accelerated in the second quarter. We are finally
seeing more evidence of wage side inflationary
pressure, which will surely catch the Fed's eye as
|This Weeks Leads
- Jimmy Jazz
- Jimmy Jazz operates 60 locations throughout GA,
IL, MD, MI, NJ, NY, PA and VA.
- The name-brand urban apparel and footwear
stores use 3,500 sq.ft. to 5,000 sq.ft. in
malls, freestanding locations, strip centers and
- Plans call for 15 openings throughout the existing
markets during the coming 18 months.
Typical leases run 10 years.
- For more information, contact:
Abe Hanan, Jimmy Jazz, 43 Hall Street, Brooklyn,
- R/C Theatres.
- R/C Theatres Management Corp. trades as R/C
- The 22-unit chain operates locations throughout
FL, MD, NC, PA and VA.
- The movie theaters occupy spaces of 53,000
sq.ft. to 80,000 sq.ft. in entertainment and lifestyle
- Plans call for three openings throughout the
existing markets during the coming 18 months.
Typical leases run 10 years. A vanilla shell and
specific improvements are required.
- For details, contact: Scott Cohen, 231 West
Cherry Hill Court, Reistertown, MD 21136
- Massage Envy
- Massage Envy Limited, LLC trades as Massage
Envy at 110 locations nationwide.
- The centers, which specialize in therapeutic
massage, use 2,500 sq.ft. to 3,500 sq.ft.
in freestanding sites and lifestyle, power and strip
- Plans call for 200 openings nationwide, exclusive
of MT, ND, SD and WY, during the coming 18 months.
- Typical leases run five years with two, five-year
options. A vanilla shell is required.
- Preferred demographics include a population of
60,000 within three miles earning $75,000 as the
average household income.
- Preferred cotenants
include T.J. Maxx, Target, Whole Foods Market. The
company is franchising.
- For more information, contact:
Joe Toth, Massage Envy Limited, LLC, 14350 North
87th Street, Suite 200, Scottsdale, AZ 85260, 480-
366-4131, Fax 480-366-4231
- Emails: email@example.com and
- Web site: www.massageenvy.com.
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