KJHburg

Triangle Economic News

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not urban.  even slightly.  topic needs to moved.

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Posted (edited)

Well here is another new company moving from California to Cary with 130 jobs. http://www.bizjournals.com/triangle/news/2017/04/18/trilliant-to-move-global-hq-to-cary-add-130-jobs.html?ana=e_trig_bn&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1492527351&j=77969391

Since someone asked new jobs and new companies fill office and warehouse space which in turns leads to more construction and more new buildings. 

https://www.usnews.com/news/best-states/north-carolina/articles/2017-04-18/tech-ceo-lgbt-laws-repeal-not-decisive-in-decision-to-move

 

Edited by KJHburg
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Again.  Not urban.  Maybe the map will help since you might not be familiar with the area.

trilliant.JPG

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I do know the area and Cary has 160,000 people sounds urban to me. I know it is not downtown Raleigh so is only inside the Beltline considered urban or it is only downtown Raleigh? 

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In defense of this thread, and for comparisons' sake, there is a similar thread in the main forum of the Charlotte page titled, The Good News Report.

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Posted (edited)

It's unfair to say that job announcements are not "urban" simply because the place of employment is not inside the Raleigh city limits. I've lived inside the Raleigh city limits for 30 years and worked outside the city limits for most of that time. Whether people approve of sprawl or not (or the concept of an RTP or not), the fact is that Raleigh would still be a backwater state capital had it not been for job growth outside the city limits.

We have a long-standing thread "What Does Cary Need to Do To Reach the Next Level as a City..er, Town?". As far as I know, no one objected to its inclusion. It is the 7th-largest city in the state and at current rates it won't take long for it to overtake Fayetteville as #6.

I personally know the company that's relocating from California. It's an exciting company in high tech. They're coming here for the talent base and they won't care whether the people they hire live ITB or not. I suspect a number of them will. It's also a positive omen to see telecoms-related jobs moving back into the Triangle. For the last 10 years, jobs in telecom have been moving out not in. 

Edited by ctl
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Wow.  Ok, I'll spell it out.  This site is typically about urban construction/ urban planning.  If this company had built a 3 story building on Chatham St in downtown Cary, that would be noteworthy!  Or signed on for a floor at the new 555 Mangum in Durham - exciting!  Taking a floor in a nondescript office building between a highway and a strip mall in the suburbs.  Yawn.  More sprawl. Not urban.

I guess in related news... A NEW BOJANGLES OPENED AT 176 Stratford Lakes Dr, Durham, NC 27713!!!!!  More jobs!  Durham has 260,000 people - so this is urban!!!!!

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Posted (edited)

Effectively, then, you're saying that a city of 160,000 people is not urban. Under that rationale urbanplanet.org should delete its forums for Asheville and Wilmington. Or perhaps you're defining "urban" as "downtown". That may be your definition of "urban" but it's not mine. I suppose urbanplanet.org could rename the forum "ITB" instead of "The NC Triangle" .... well, not ITB because that would exclude North Hills which is one of the more promising developments while DTR has paused. The forum could be renamed DTR. As for nondescript buildings, Hillsborough St and Glenwood Av are full of them but we speak about them nonetheless. 

Edited by ctl
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Wow again.  I was mocking the comment that Cary having 160,000 has anything to do with a company filling 1 floor of office space at a random office building on the highway.  (And no, this building is not urban.)

Nevermind.  I've said more on this topic than its worth.  If yall want to talk about this project go for it!  Ha!

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Posted (edited)

Major jobs announcement concerning Credit Suisse to be announced tomorrow maybe 1000 plus jobs Good news for the entire Triangle and whole state. http://www.bizjournals.com/triangle/news/2017/05/08/cooper-readies-for-big-credit-suisse-jobs.html?ana=e_trig_bn&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1494286278&j=78125611

Sources say 1000 jobs at 100K average salary http://www.wral.com/sources-credit-suisse-to-bring-1-000-jobs-to-triangle/16689391/

Edited by KJHburg

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Wow thats exciting news about Credit Suisse! I cant help but wish big moves like that were brought into the city though. With a 1000+ employees could you imagine a beautiful large tower going up. Now that would be something.

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Posted (edited)

14 hours ago, KJHburg said:

Major jobs announcement concerning Credit Suisse to be announced tomorrow maybe 1000 plus jobs Good news for the entire Triangle and whole state. http://www.bizjournals.com/triangle/news/2017/05/08/cooper-readies-for-big-credit-suisse-jobs.html?ana=e_trig_bn&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1494286278&j=78125611

Sources say 1000 jobs at 100K average salary http://www.wral.com/sources-credit-suisse-to-bring-1-000-jobs-to-triangle/16689391/

1500 positions with annual salaries of at least $100,000 will be a huge economic boost for the Triangle.  This is one of the reasons why there is so much high end development happening in and around downtown. It would be great to see them build a new tower on the N&O site.

Edited by RALNATIVE
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What is the median salary? Those handful of $5,000,000 salaries are distorting what a typical employee makes. Having said that, a median of 75k is still enough to buy up some more 300k houses with. 

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30 minutes ago, Jones_ said:

What is the median salary? Those handful of $5,000,000 salaries are distorting what a typical employee makes. Having said that, a median of 75k is still enough to buy up some more 300k houses with. 

The N&O article stated that the starting salaries would be $100,000. Not sure if they meant the average starting salary or not:

"1,500 jobs with starting annual salaries of $100,000"

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5 hours ago, RALNATIVE said:

The N&O article stated that the starting salaries would be $100,000. Not sure if they meant the average starting salary or not:

"1,500 jobs with starting annual salaries of $100,000"

Ok, thanks for that. Next question....what in the world kind of jobs are these?? I only know a handful of people who make money starting around there..realtors, doctors, dentists, restaurant owners, top level engineers and scientists. 

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Posted (edited)

5 hours ago, Jones_ said:

Ok, thanks for that. Next question....what in the world kind of jobs are these?? I only know a handful of people who make money starting around there..realtors, doctors, dentists, restaurant owners, top level engineers and scientists. 

Specialized IT people in financial services and pharma/biotech routinely make around $100,000+ in bigger markets like Boston, Seattle, and Silicon Valley. Financial analysts, investment specialist, and financial services managers can easily command that and more.

Needless to say these 1200 jobs will help boost the economic prosperity in the Triangle in many areas, such as retail and real estate.

Edited by RALNATIVE
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1st Quarter Raleigh Durham office market report by Lincoln Harris shows the Triangle's office market is very healthy and absorbing lots of office space. Check it out here

http://lincolnharris.com/Research/Raleigh.html   Downtown Durham is unbelievable tight in office space no wonder they are building more space there than in downtown Raleigh which is still tight but not as low of vacancy at Durham. 

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Posted (edited)

MetLife adding another 200,000 plus sq ft building to their campus in Cary. $60 million building about 219,000 sq ft. must mean more new jobs. http://www.bizjournals.com/triangle/news/2017/05/22/metlife-expands-in-cary-a-win-for-raleighs.html

another story http://www.costar.com/News/Article/MetLife-Expanding-Global-Tech-Campus-in-Cary/191230

Edited by KJHburg
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Weston has been a tremendous success for Highwoods, which bought the property twenty years ago. Jim Goodnight played a role in the transaction. If you look back far enough, the idle land that is now Weston was owned by the KLM Royal Dutch Airlines pilots pension plan. At the time, the KLM plan also owned North Hills and Wakefield in Raleigh. John Kane tried to buy all the KLM properties, but he couldn't put together enough funding. KLM sold its portfolio to multiple buyers, and Kane was able to get North Hills while the Goodnight-backed team and Highwoods got Weston. An interesting story. 

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And I believe some investment arm of Duke got Wakefield if memory serves me correctly. 

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