PHOENIX, Oct. 31, 2014 /PRNewswire/ -- This week in Beijing, a consortium of business leaders came together for a signing ceremony to develop what will be known as the "International Financial Center at Pier 202" (IFC@202) in the United States that will be located in Arizona. Members of the consortium selected Arizona as the site for their global financial investment, crediting Governor Jan Brewer's leadership in creating one of the premier economic and pro-business climates in the United States as reported by Forbes.
Hong Kong based China International Development Investment Corporation Limited (CIDIC), its partners and US based TrendEx Holdings, LLC formed the Pier 202 Development Company LLC to develop the project. After a series of tours and meetings to introduce Governor Brewer and Sandra Watson, President and CEO of the Arizona Commerce Authority, to several of the partners, agreements were signed to finalize the development of a USD $1.4 billion International Financial Center in the State of Arizona. The IFC@202 will be the first of its kind in North America and will connect Arizona to new international trade opportunities, strengthen existing bilateral relationships and serve as an iconic landmark that will further position Arizona as a preeminent location for global business and travel.
"The Arizona IFC will be a magnet for the international business community," said Oswald Wong, President of CIDIC who will serve as Chairman for the Pier 202 development. "This project shall attract and serve stock and commodity exchanges, premier banking, finance and investment institutions, financial law firms, trade industry leaders, and others. By joining together this diverse group of over 25 leading "Fortune 500" international companies, including, but not limited to, China Xinxing Corporation (Group), Beijing Shougang Construction Co. Ltd. (SGCG), Norendar International Ltd, and Hebei Regen Engineering and Project Management Co. Ltd., the agreements that have been established mark a new era of relationship between global leaders for this IFC in America. The IFC@202 marks a significant step forward in the cooperation between the US and China for developing, owning and managing a world-class center designed to support the international financial services industry."
"This exciting new partnership underscores Arizona's unwavering commitment to the continued economic growth and prosperity of our state," said Governor Brewer who witnessed the signings. "In addition to creating quality jobs and generating considerable investment in Arizona, this new and innovative International Financial Center will advance our position as a global contender in the financial marketplace. Arizona's selection as the location for this significant project emphasizes the importance of pursuing and strengthening business relationships on an international scale, and is further validation of the pro-business environment we have been working hard to cultivate and maintain these past several years."
Robert Swagger, CEO for Pier 202 Development Company said that the plans have been a result of several years of work resulting in an unprecedented international collaboration of leading global development firms committed to delivering 6.1 million square feet of Class A office, ultra luxury condos, two five-star hotels, international cuisine and high-end retail, entertainment and community areas. The development will serve the needs of our global business partners throughout the financial services spectrum and represents the single largest development in the state's history. The design is a beautiful work of art that meets the requirements for Platinum LEED certification. "It is an honor to have such a highly reputable and experienced team of international leaders partnering for the long term success of this project. The development will establish a new standard for quality, luxury, sustainability and community collaboration. The IFC@202 has been designed to recognize and support the diverse needs of the international business community in all aspects resulting in a legacy project for the state of Arizona."
"The establishment of this world-class IFC will strengthen the depth of corporate, financial, academic and workforce assets available in Arizona," said Sandra Watson, President & CEO of the Arizona Commerce Authority. "The IFC will create a significant number of new jobs during and following construction, and will showcase innovation in renewable technologies – it will be a model of excellence and cross-cultural collaboration in leading design methodologies."
"The vision of this signature development is a result of a strong collaboration between the US and China as well as a global understanding of leading international financial centers including those in London, Frankfurt, Dubai, Singapore, Hong Kong and Shanghai" said Alan Tay, CIDIC North America CEO who has been working diligently with Mr. Swagger and local partners and authorities to finalize the remaining items necessary for the ceremonial ground breaking, tentatively scheduled for December.
SOURCE Pier 202