46 replies to this topic

[jt110]

Garris, on May 4 2006, 07:48 PM, said:

There is no doubting Atlanta's (and Georgia's) increasing economic might.

It's interesting that people are still moving there in droves based upon its good economic reputation but it looks like it's economy has slowed over the past few years. Here's an interesting article from the USA Today from Yesterday:

"Atlanta regularly overshadowed its Southern neighbors. "The Capital of the New South" was the most cosmopolitan city south of the Mason-Dixon line, one of the first with major league professional sports teams and host of the 1996 Summer Olympics.

Those were the good old days. The economic news of late has been almost all bad.

Two major automobile manufacturing plants will close by 2008 at a cost of 5,000 jobs. Delta Air Lines filed for bankruptcy last fall and is expected to eliminate 10,000 jobs by mid-2007.

Another local employer, BellSouth, laid off 1,500 managers in December and is being acquired by San Antonio-based AT&T. About 10,000 jobs, many of them here, are expected to be cut after the merger. Two Atlanta military bases, Fort McPherson and Fort Gillem, are closing, eliminating more than 5,000 civilian jobs.

Georgia has been one of the nation's fastest-growing states for a quarter-century. Atlanta, the state's economic engine, is a burgeoning metropolitan area that draws newcomers from all over the USA.

But population growth has not paid off financially for the Peach State: It ranks 49th among the states in per-capita income growth since 2000 — ahead only of Hurricane Katrina-battered Louisiana, according to a USA TODAY analysis of government data.

Georgia lost 2% of its income in the first half of this decade. The state has not generated enough new jobs, especially higher-paying ones, to keep pace with its growing population."

Rest of the article
http://www.usatoday....rgia-pits_x.htm


Here's an interesting state by state breakdowm of per capaita income change over the past five years. Rhode Island ranks 6th!: http://www.usatoday....ome-chart_x.htm

[Garris]

Interesting article.  Thanks for sharing it.  Certainly, that region's economy, like any booming economy, eventually matures and then, after a time, your job market, taxes, cost of living, etc start to look not too dissimilar to other mature areas like the NE cities.

Still, my uncle's experience is a typical example.  He was scraping and getting by in his jobs in Florida, finally seemed to gain some traction career-wise, bought a house, etc...  Then, he got laid off, found a new job easily in a distant Atlanta exurb when he couldn't in Florida, and then he moved to Georgia.  His new job pays less than his old one, but cost of living is so low that his family's standard of living is much higher there.

He hates the region, but can't deny how far his dollar goes...

- Garris

PS: What do people think will become the next "hot" cities after the current Nashvilles and Las Vegases and Charlotte's and Atlantas cool off?  I predict that someone is finally going to notice what a bargain Buffalo, Rochester, Pittsburgh, etc are and the old Northern rust belt cities will take off again...

Edited by Garris, 05 May 2006 - 01:51 PM.

[KRC]

Garris, on May 5 2006, 03:50 PM, said:

PS: What do people think will become the next "hot" cities after the current Nashvilles and Las Vegases and Charlotte's and Atlantas cool off?  I predict that someone is finally going to notice what a bargain Buffalo, Rochester, Pittsburgh, etc are and the old Northern rust belt cities will take off again...

I agree with you 100%.  You're already starting to see the signs.  The benefits of "good bones" that exist in Northern cities never left.

[damus]

Garris, on May 5 2006, 03:50 PM, said:

PS: What do people think will become the next "hot" cities after the current Nashvilles and Las Vegases and Charlotte's and Atlantas cool off?  I predict that someone is finally going to notice what a bargain Buffalo, Rochester, Pittsburgh, etc are and the old Northern rust belt cities will take off again...

Forgive me for being ignorant if I'm wrong, but aren't the tax climates in those northern cities not quite what they offer down south? Add in a colder climate and what makes you think people and companies will be so eager to set up shop there? At least in the Megalopolis, there are the Ivy League schools along with dozens of other high quality institutions that could attract some employers despite the high taxes.

Unfortunately I think the next "hot" region might sprout up in the last green valley in the Megalopolis with that Utopia mess looking like it'll be approved by the voters in Preston, CT. If you look at the historical figures, before Disneyland and I-5 Orange County, California was smaller in population than New London County, CT. Now it's estimated at over 3 million people. A lot of that is the suburban effect of LA, but in Orlando it's all Disney. 50,000 people in the town and the area around it was all orange groves and swamplands. Now look at it. People don't seem to be understanding what this whole Utopia mess is.

[runawayjim]

damus, on May 7 2006, 10:02 AM, said:

Forgive me for being ignorant if I'm wrong, but aren't the tax climates in those northern cities not quite what they offer down south? Add in a colder climate and what makes you think people and companies will be so eager to set up shop there? At least in the Megalopolis, there are the Ivy League schools along with dozens of other high quality institutions that could attract some employers despite the high taxes.

Unfortunately I think the next "hot" region might sprout up in the last green valley in the Megalopolis with that Utopia mess looking like it'll be approved by the voters in Preston, CT. If you look at the historical figures, before Disneyland and I-5 Orange County, California was smaller in population than New London County, CT. Now it's estimated at over 3 million people. A lot of that is the suburban effect of LA, but in Orlando it's all Disney. 50,000 people in the town and the area around it was all orange groves and swamplands. Now look at it. People don't seem to be understanding what this whole Utopia mess is.

rochester actually has a lot of colleges not far from it.  the issue with that part of new york state is that the winters are really tough.  i may be wrong, but i don't think pittsburgh gets those winters.  the tax climate will change in the north, i think.  it's hopefully going to be changing in RI soon, to at least be more comparable to CT and MA.  i'm not sure what NY or PA are like though.

what exactly is this utopia thing?

[damus]

runawayjim, on May 7 2006, 04:19 PM, said:

rochester actually has a lot of colleges not far from it.  the issue with that part of new york state is that the winters are really tough.  i may be wrong, but i don't think pittsburgh gets those winters.  the tax climate will change in the north, i think.  it's hopefully going to be changing in RI soon, to at least be more comparable to CT and MA.  i'm not sure what NY or PA are like though.

what exactly is this utopia thing?

I thought you posted in the CT forums and would know about Utopia. It's a $1.6 billion movie studio/domed multi level theme park/performing arts college proposal for Preston, CT. They have already bought land in Waterford and Bozrah and have been cited as having interest in many other properties in the area. The Waterford land, 300+ acres across I-95 from Sonalysts studios, is apparantly going to be a large animation studio campus. I have not found out what plans they have for Bozrah. Joe Gentile, the guy behind the proposal, has been quoted as saying this project will have a "entertainment corridor" from Waterford to RI that will compliment the main development in Preston. Most people seem to think that the entire development, which includes a theme park that will supposedly outdraw Disney World, will be contained to the 419 acre Norwich Hospital property located across the river from the Mohegan Sun.

In my opinion, this project is way too big and will destroy the character of the region and affect my quality of life. I won't post what he said, but I actually just found out that Joe Gentile insulted one of my relatives at the town meeting yesterday in a very personal way after telling him a few concerns he has about the project. These guys are scumbags, plain and simple.

[runawayjim]

damus, on May 7 2006, 04:32 PM, said:

I thought you posted in the CT forums and would know about Utopia. It's a $1.6 billion movie studio/domed multi level theme park/performing arts college proposal for Preston, CT. They have already bought land in Waterford and Bozrah and have been cited as having interest in many other properties in the area. The Waterford land, 300+ acres across I-95 from Sonalysts studios, is apparantly going to be a large animation studio campus. I have not found out what plans they have for Bozrah. Joe Gentile, the guy behind the proposal, has been quoted as saying this project will have a "entertainment corridor" from Waterford to RI that will compliment the main development in Preston. Most people seem to think that the entire development, which includes a theme park that will supposedly outdraw Disney World, will be contained to the 419 acre Norwich Hospital property located across the river from the Mohegan Sun.

In my opinion, this project is way too big and will destroy the character of the region and affect my quality of life. I won't post what he said, but I actually just found out that Joe Gentile insulted one of my relatives at the town meeting yesterday in a very personal way after telling him a few concerns he has about the project. These guys are scumbags, plain and simple.

i post in some of the threads, but didn't read all of them.  i was wondering if it was the supposed theme park at the norwich hospital site... i heard about that from friends who lived in that area (right across the river from the sun)