Central Texas Global Business Pulse
Quick Read
3 Stories that are must read
China and the United States have highly complementary economies with deeply integrated interests. Strengthening supply chain cooperation between our two nations is crucial in maintaining a stable global supply chain, and in driving economic growth in both countries and beyond. The CCPIT remains committed to fostering friendly exchanges between the business communities of China and the U.S. Furthermore, we encourage Chinese and American companies to use the China International Supply Chain Expo (CISCE) as a platform to strengthen supply chain collaboration
The US Department of the Interior’s Bureau of Land Management (BLM) has progressed nine hybrid solar and storage facilities located across the states of Nevada and Arizona. The BLM administers over 245 million acres of federal land in the US for a variety of purposes including renewable energy development, livestock grazing and outdoor activities such as camping. The total land under management by the BLM is more than any other US government agency and makes up approximately 10% of the country’s land base.
The Hayes Innovation Center for Advanced Manufacturing has become a hive of construction and design work as the new facility begins to take shape in East Austin off State Highway 130. As HICAM Executive Director Marcus Metzger strolled through the industrial space during a hard-hat tour last month, dozens of workers were installing wiring and putting up walls in the sprawling 52,000-square-foot space. Soon, all those wires will connect to a variety of high-tech robotic and manufacturing machines, as well as media studios and classrooms.
News & Updates
Big Plan has been selected to participate in the prestigious Turner School of Construction Management Program, allowing for business contract procurement opportunities & technical/managerial skill building. Fang Fang & Oscar Macias from our Team attended this conference alongside other certified minority-owned, women-owned enterprises. Your team at Big Plan is so proud of you!
News & Updates
International
The China Council for the Promotion of International Trade has moved its U.S. office to Washington, D.C., to improve business relations. The move highlights ongoing efforts to connect Chinese and American businesses. This visit marked the first Chinese business delegation to the U.S. following the third plenary session of the 20th CPC Central Committee, also a reciprocal visit, responding to a recent trip by a U.S. business delegation to China.
Malaysia has set up a chip-design hub in Selangor state to boost its semiconductor industry and attract foreign investments. The Southeast Asian nation is seeking to improve its chip design capabilities and move up from testing and packing – activities that traditionally have been considered less complex and of lower value. “The interest in data centres will continuously drive the demand for semiconductors,” Economy Minister Rafizi Ramli said on Tuesday. “At some point, we want to move away from using chips that are designed elsewhere. We want to see more data centres in Malaysia using chips designed by Malaysians.”
This type of battery possesses the same form factor as the commonly utilized 18650 lithium-ion battery, with a diameter of 18 mm and a length of 65 mm. This advancement, unveiled at the 14th annual Beyond Lithium Conference, has the potential to usher in a new epoch of sustainable and economically viable substitutes for conventional lithium-ion batteries. “This innovation represents years of dedicated research and product development,” stated Girau. A particularly noteworthy feature of the newly developed Potassium-ion battery is its impressive performance. Extensive testing has demonstrated that it not only fulfills but surpasses preliminary expectations. The battery exhibited outstanding cycle longevity, indicating its ability to endure numerous charging and discharging cycles prior to a notable decline in capacity.
China has maintained its position in lithium-ion battery (LIB) development, largely attributed to its early adoption of industrial-scale projects and rapid production growth to match its ambitious electric vehicle (EV) expansion plans, said Rystad. That meant that battery production “surged” for several years before slowing from 2022, which Rystad said it thinks is a consequence of market “maturity”. China’s domestic industry is now “undergoing consolidation” as it aims to offer higher-quality battery products through technological advances. The slowdown in demand has led some companies unable to compete on price to exit the market, said Rystad.
USA
A South Korean company will receive up to $450 million in federal funding to support its plans to build a chip-manufacturing facility in West Lafayette. The money comes from the CHIPS and Science Act, a bipartisan measure aimed at spurring semiconductor manufacturing in the US. The company, SK Hynix, plans to build a memory packaging plant for artificial intelligence products and advanced packaging R&D, creating up to 1,000 jobs. The government said the plant will fill a “critical gap” in the US semiconductor supply chain. The facility, located at the Purdue University Research Park, will produce high-bandwidth memory (HMB) chips, crucial components for the graphics processing units (GPUs) that train AI systems.
At a former steel mill in West Virginia, a recently-completed factory is ramping up production of something new: “iron-air” batteries that can cheaply store renewable energy for as long as 100 hours. The startup, called Form Energy, is bringing hundreds of new jobs back to a small town that was built around the steel industry. The company’s founder used to work at Tesla. Now he’s one of multiple ex-Tesla employees who are now scaling up new clean tech factories across the country.
Texas
A group of job creators across a wide array of industries have joined togetherto protect American businesses and workers.Specifically, the Coalition to Preserve American Jobs (CPAJ). CPAJ is committed to preserving their access to the Employee Retention Credit (ERC). Congress implemented the Employee Retention Credit (ERC) in March of 2020 to incentivize and support employers’ ability to retain their workers on the payroll through the pandemic. The ERC program proved to be critical to eligible businesses, saving thousands of jobs across Texas
Chevron joins a raft of other companies that have pulled up stakes in California and left for Texas, which had 52 Fortune 500 companies in 2024. Global real estate company CBRE — which itself moved in 2020 from Los Angeles to Dallas — said eight Fortune 500 companies pulled their headquarters out of California from 2018 through 2023. And 10 moved to Texas. The energy mammoth said the move will help join senior leaders and "enable better collaboration and engagement with executives, employees, and business partners." Chevron already has about 7,000 employees in the Houston area and 2,000 in San Ramon and expects all corporation functions to move to Texas within the next five years, it said in a statement.
Governor Greg Abbott last night championed the Texas economic miracle and the unique business opportunities that continue to attract companies to the state during a fireside chat for the Portland Chamber of Commerce.“People come to Texas because of the freedom and opportunity we offer here. Last year, I signed into law House Bill 5, which gives local jurisdictions the economic tools they need to attract businesses to come to Texas or grow their operations within our state. Everyone in Texas has the chance to succeed and thrive. Together, we will build a bigger, better Texas for the next generation of Texans.”
Austin
The SBA wants to bring in lenders ranging from hyperlocal microlenders to nationally oriented financial institutions. Lenders can apply to become a microlender — offering loans up to $50,000; a Certified Development Company, which is a nonprofit focused on economic development of its community; or Community Advantage Small Business Lending Company, or CA SBLC, which is a non-bank lender focused on “mission driven” projects.
Events
Austin Big Business, Tech & Entrepreneur Professional Networking Soiree
August 19th, 2024
6PM-8:30PM
Calling All: Tech Startups ! Entrepreneurs ! Business Owners ! Professionals ! Free-lancers, policy-makers, game-changers, and heroes! Starting 2024 with Austin’s Best Professional Networking Affair.
Please join us for an evening of creativity, inspiration and passionate conversations. Join & raise a glass – make connections with co-founders, partners, coaches or core team members for your start-up- meet fellow professionals and mingle with makers of great and big ideas – take home treats from growing community and some business cards.
Hosted By – Austin’s Entrepreneurs, Startup & Business Coalition.
10300 Springdale Road Austin, TX 78754
Austin Small Business Expo 2024
November 14th, 2024
10AM-5PM
Austin Small Business Expo is a fantastic opportunity for small businesses to showcase their products and services, connect with potential customers, and network with like-minded entrepreneurs.
At the Expo, you’ll find a vibrant atmosphere buzzing with innovation and creativity. Discover the latest trends and technologies that can help your business thrive in today’s competitive market. Engage in insightful discussions, attend informative workshops, and gain valuable insights from industry experts.
Whether you’re a startup looking for guidance or an established business seeking growth opportunities, the Expo is the perfect platform to learn, collaborate, and expand your network. Connect with exhibitors from various industries, explore new partnerships, and build lasting relationships that can take your business to new heights.
Don’t miss out on this exciting event! Mark your calendars for November 14, 2024 and join us at the Palmer Events Center for the Austin Small Business Expo 2024. We look forward to seeing you there!
900 Barton Springs Road Austin, TX 78704
