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But the group wasn't able to get a handle on its electricity costs in Ohio because the state has yet to decide how rates will be regulated in the future, said David Stickler, managing director of Global Principal Partners LLC, which is working with Steel Development. He said nobody was able to say what the plant's power costs would be over the next five to seven years.

The group, Steel Development, will now turn to about four other states to the south and west, Stickler said.

Immelt said “certainty of demand” is required to spur hiring.

Immelt said that the “government in the U.S. has always been a catalyst to drive growth. This is not President Obama versus President Bush: The [National Institute of Health] has been a catalyst for the world’s best healthcare system. The Defense Department spawned… the Internet and modern transportation technology for generations. The nuclear industry was built [by] the Defense Department.”

Infrastructure is a facilitator of competitiveness and productivity… whether it’s broadband or highways or ports or electricity grids

That's called social engineering and it's a widely used technique, especially by Chinese hackers.

ou say Chinese hackers and there's been a lot of reports about cyber espionage stemming from China. What's going on here? GJELTEN: You know, Lynn, all the cyber security people we talked to say there's just a ton of cyber espionage coming out of China these days. Hackers are stealing technological secrets, trade secrets, computer code, design plans, you name it. The security people say it's like a vacuum cleaner approach. They just suck up everything they find.

But what's behind this is that China wants to catch up to the west. Now, they don't have the business environment to support innovation. You don't see the Chinese equivalent of companies like IBM or Google or Apple popping up there, so rather than develop their own ideas and technology, they just steal it. That's the background here. At least, that's what we hear from U.S. intelligence officials and security people. NEARY: And the Chinese government's not acknowledging any role in this attack on the chamber of commerce? GJELTEN: They say there's no evidence, but cyber security people who have investigated other intrusions blamed on China say it's pretty easy to tie them back there and it's hard to see how the government would not be involved in some way, given the way China works. Chamber officials say they have no doubt that this intrusion did come from China.

Amory project among top 15 in country* Steel Development Corp. is building a $200 million plant that will employ 150 workers.By CHRIS WILSONMonroe Journal

Trade amp& Industry Development magazine has named Amory's steel mill project one of the top 15 projects in the country.

community-transforming

plan to build a steel plant in the US partly funded by one of China’s biggest steel companies has hit out at his critics, saying that objections to the scheme are a “ploy” by established US companies to block fair competition.

John Correnti, chief executive and part owner of Steel Development, which intends to construct a $168m plant in Amory, Mississippi, with the aid of investment by state-owned Anshan Iron & Steel, dismissed as “ludicrous” a claim by a group of US congressmen that the involvement of a Chinese company could potentially damage US national security.

Mr Correnti’s project in Mississippi – which he says is part of a bigger $2bn scheme to build a total of four steel plants in undisclosed locations US-wide – comes at a difficult time for the country’s steel industry which was severely affected by the 2008-09 economic crisis and is recovering only slowly.

the interest of foreign companies in buying U.S. critical infrastructure assets; that interest is now growing again, and the Obama administration is grappling with how to balance the promotion of commerce with the bolstering of security

The issue is coming back to the fore as foreign investors once again try to buy American industrial assets. The Obama administration has thus been forced to grapple with how to protect national security while promoting economic recovery.

The New York Times’s Eric Lipton wrote last month that in early December, the administration had threatened to block the proposed takeover by the Chinese government of a tiny Nevada gold mining company, according to executives for the company,

Office of Investment Security   Page ContentCommittee on Foreign Investment in the United States (CFIUS) The Committee on Foreign Investment in the United States (CFIUS) CFIUS is an inter-agency committee authorized to review transactions that could result in control of a U.S. business by a foreign person (“covered transactions”), in order to determine the effect of such transactions on the national security of the United States.  CFIUS operates pursuant to section 721 of the Defense Production Act of 1950, as amended by the Foreign Investment and National Security Act of 2007 (FINSA) (section 721) and as implemented by Executive Order 11858, as amended, and regulations at 31 C.F.R. Part 800.  The CFIUS process has been the subject of significant reforms over the past several years.  These include numerous improvements in internal CFIUS procedures, enactment of FINSA in July 2007, amendment of Executive Order 11858 in January 2008, revision of the CFIUS regulations in November 2008, and publication of guidance on CFIUS’s national security considerations in December 2008. Further information about each of these reforms is available via the links to the right.

ncentives make sense when there is a good probability that the objectives of the one offering the incentives will be achieved