USB Invests in Innovate North State – Analyst Blog – NASDAQ

by admin on August 30, 2012

U.S. Bank – a division of U.S. Bancorp ( USB ) –
announced that it has invested $75,000 in Innovate North State – a
regional organization – for 3 years to develop the manufacturing
sector in Northern California. This venture made U.S. Bank the
Founders’ Circle Investor in the organization.

 U.S. Bank will be the leading sponsor of the first Manufacturing
RePatriation Summit, which will take place in the first quarter of
2013. Along with endorsing the fineness in manufacturing found in
California, primarily in the north state, the summit will seek to
discover countless prospects related to the in-sourcing of
manufacturing in the present economic condition.

Further, the bank will be the frontrunner in the manufacturing
and consumer products special industry group at Innovate North
State.

Management believes that the company’s dedication to invest in the
manufacturing division, along with its supporting businesses, will
result in greater job creation and commercial success, which are
the primary factors in resurrecting the sluggish economic
environment.

The district manager at U.S. Bank, Robert Staton, will be a member
of the Board of Directors of Innovate North State, whereas Valerie
Lee, business relationship manager at U.S. Bank, will be the
alternate director.

Management at U.S. Bank is thrilled to be a part of the
development in innovation and growth in Northern California. They
believe that the region has been positively impacted by
manufacturing, growth and technological advancements, taking place
in the nation. They also anticipate the venture to provide a chance
to make use of the development promote the resources, innovators
and entrepreneurs of South California.

Moreover, management is delighted to utilize the bank’s capital
and skill for the development of Northern California’s economy by
creating more jobs in the manufacturing sector. Management also
sincerely believes that North State has the potential to be the
most economically-competitive non-metropolitan area in the U.S. in
the future.

Innovate North State was established in 2012 to aid Southern
California’s most pioneering companies having the largest growth
potential to gain a greater share in the national and global
markets. It focuses on five major industry sectors: sustainable
agriculture and food, manufacturing and consumer products, clean
tech and environmental, web, mobile and IT, healthcare and medical
technology.

With the policy of “connecting to compete,” Innovate North
State’s approach involves assisting path-breaking companies unite
with each other as well as to locate important resources from
outside the region.

Innovate North State considers the investment to be a remarkable
honor to have one of the nation’s leading banking institutions come
on board as a Founders Circle Investor and make such a significant
long-term commitment.

We expect this investment to help augment the pace of economic
recovery in Northern California.

U.S. Bancorp currently retains a Zacks #2 Rank, which translates
into a short-term Buy rating. However, considering the
fundamentals, we maintain our long-term Neutral recommendation on
the stock. Wells Fargo & Company ( WFC ) –
one of the peers of U.S. Bancorp – also retains a Zacks #2 Rank
US BANCORP (USB): Free Stock Analysis Report

WELLS FARGO-NEW (WFC): Free Stock Analysis
Report

To read this article on Zacks.com click here.

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Source Article from http://community.nasdaq.com/News/2012-08/usb-invests-in-innovate-north-state-analyst-blog.aspx?storyid=168849

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