Triangle Economic News

[KJHburg]

Mapping drone company moving its headquarters to Raleigh from DC.  https://www.sensefly.com/2018/06/20/sensefly-moves-north-american-operations-raleigh-n-c-2/

[RALNATIVE]

32 minutes ago, KJHburg said:

Mapping drone company moving its headquarters to Raleigh from DC.  https://www.sensefly.com/2018/06/20/sensefly-moves-north-american-operations-raleigh-n-c-2/

I wonder how much of their decision to move to Raleigh is based on an expected selection of the area for the Army Futures Command Center?

Edited June 20, 2018 by RALNATIVE

[ctl]

I get the impression they want wide-open spaces in south Wake and adjacent counties where they can fly drones under minimal regulation. 

[KJHburg]

Cleantech firm from NY picks Durham for  a 300 employee expansion avg. salary $94,000.  https://www.bizjournals.com/triangle/news/2018/06/26/cleantech-firm-xylem-picks-durham-for-300-job.html?ana=e_trig_bn_breakingnews&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1530027767&j=82365911

[ctl]

This is the former company Sensus that Xylem acquired in 2016. Sensus had finance and administrative people in an an office building near Strickland and Six Forks, with all the technical and operations people already in Keystone off Davis Drive. Now they will consolidate everyone in Keystone and expand the technical and operations staff with new hires. Contrary to what the article says, there is no actual manufacturing here.

[KJHburg]

This is the 2nd study in a week that says Raleigh is the #1 Amazon pick https://www.bisnow.com/national/news/office/the-real-estate-rankings-of-amazons-19-us-hq2-finalists-89363

[DanRNC]

1 hour ago, KJHburg said:

This is the 2nd study in a week that says Raleigh is the #1 Amazon pick https://www.bisnow.com/national/news/office/the-real-estate-rankings-of-amazons-19-us-hq2-finalists-89363

Don't worry, the bubbas in the NC Taliban and the sour grapes crew will make sure this doesn't happen. 

Edited July 3, 2018 by DanRNC

[Jones_]

2 hours ago, DanRNC said:

Don't worry, the bubbas in the NC Taliban and the sour grapes crew will make sure this doesn't happen. 

It'd be pretty hard to gerrymander away 50,000 tech workers and their families. 

[rancenc]

12 hours ago, KJHburg said:

This is the 2nd study in a week that says Raleigh is the #1 Amazon pick https://www.bisnow.com/national/news/office/the-real-estate-rankings-of-amazons-19-us-hq2-finalists-89363

I will be curious when Apple makes the decision public on the new East Coast operations.  This is the company which the "rumor mill" is stating that Raleigh-Durham is the sure bet to land the new complex.

[DanRNC]

2 hours ago, rancenc said:

I will be curious when Apple makes the decision public on the new East Coast operations.  This is the company which the "rumor mill" is stating that Raleigh-Durham is the sure bet to land the new complex.

I wouldn't say it's a sure bet and I would take the "rumor mill" with a grain of salt. While I think the probability is high, don't put it past the yo-yo's in power, who can't get out of their own way, to screw this up. In the middle of the negotiations with Apple the bubbas decided it would be a good time to discuss a replacement for that idiotic bathroom bill . 

[DanRNC]

14 hours ago, Jones_ said:

It'd be pretty hard to gerrymander away 50,000 tech workers and their families. 

Don't underestimate Barney Fife, Gomer Pyle, Goober, etc!

[RALNATIVE]

3 hours ago, DanRNC said:

Don't underestimate Barney Fife, Gomer Pyle, Goober, etc!

These guys must have never heard of the good ole boys network.

 

 

[KJHburg]

Number of companies considering Raleigh and Wake County continues to increase and this is outside of Apple and Amazon.  Some of these new companies should be finalized soon according to this report.  https://www.wraltechwire.com/2018/07/05/number-of-firms-looking-to-locate-in-wake-county-continues-to-soar/

[Scotchman]

Wonder how many of these "other companies" are waiting to see results of Apple and Amazon.  If Apple and/or Amazon picks triangle area they may go else where to avoid the competition for workers.  I know a lot of the A/A workers will be new to Triangle area but due to housing and other limits only so many can move here in a year.

BTW love that golden city photo on the news report.

[DanRNC]

19 minutes ago, Scotchman said:

Wonder how many of these "other companies" are waiting to see results of Apple and Amazon.  If Apple and/or Amazon picks triangle area they may go else where to avoid the competition for workers.  I know a lot of the A/A workers will be new to Triangle area but due to housing and other limits only so many can move here in a year.

BTW love that golden city photo on the news report.

A lot of these articles are framed as "even if the Triangle doesn't get Amazon and Apple..." so they appear to be the consolation prizes. It seems as if the powers that be have already thrown up the white flags and are in PA mode (post Apple/post Amazon). 

[RALNATIVE]

24 minutes ago, Scotchman said:

Wonder how many of these "other companies" are waiting to see results of Apple and Amazon.  If Apple and/or Amazon picks triangle area they may go else where to avoid the competition for workers.  I know a lot of the A/A workers will be new to Triangle area but due to housing and other limits only so many can move here in a year.

BTW love that golden city photo on the news report.

Not only other companies, but I suspect that many development projects in and around downtown and RTP have intentionally applied the brakes to see what happens with these 2 companies. It would be a shame to proceed with plans to build a modest structure when Amazon may come along with interest in building a much more substantial development on sites such as the N&O and Hillsborough St. sites. If they did come to Raleigh, the value of sites like this would skyrocket. It's smart to wait.

Edited July 9, 2018 by RALNATIVE

[ctl]

I assume developers in other cities are also taking a wait-and-see posture, at least in the vicinity of the sites that were pitched to Amazon.  As for gerrymandering, I don't think we're getting 50,000 people to move in from the Left Coast. Some will relocate, just like IBM, Glaxo/BW, Nortel, Ericsson, and Cisco brought in people. But a lot of those 50,000 will be hired locally and I would expect talent from the South to dominate the numbers simply because of proximity. Will it change the politics of the area? Somewhat, just as IBM did in the 1960s and 1970s. But I would not bet on the difference between night and day.  

Edited July 9, 2018 by ctl

[KJHburg]

In other news Microsoft establishes an Innovation Hub with Duke at the Chesterfield in Durham.  https://www.wraltechwire.com/2018/07/09/microsoft-to-build-innovation-hub-in-durham-for-work-with-duke/

[Jones_]

4 hours ago, RALNATIVE said:

Not only other companies, but I suspect that many development projects in and around downtown and RTP have intentionally applied the brakes to see what happens with these 2 companies. It would be a shame to proceed with plans to build a modest structure when Amazon may come along with interest in building a much more substantial development on sites such as the N&O and Hillsborough St. sites. If they did come to Raleigh, the value of sites like this would skyrocket. It's smart to wait.

301 and N&O would both just about be under way if not for the specific circumstances that stopped each of them. The current owners of each site are exactly that though, speculators to some degree.  

[RALNATIVE]

1 hour ago, Jones_ said:

301 and N&O would both just about be under way if not for the specific circumstances that stopped each of them. The current owners of each site are exactly that though, speculators to some degree.  

With Amazon, Apple, the Army, and other large projects looming, they'd be wise to continue speculating for a while longer.

[KJHburg]

Amazon is coming but with a huge distribution center in Garner on the old Con Agra plant site.  Sounds like 2.6 million sq ft warehouse  which is about the size of a new warehouse they are building by the Charlotte airport.   https://www.wraltechwire.com/2018/07/09/former-conagra-site-in-garner-could-be-home-for-big-amazon-distribution-center/    At that size it would be the biggest warehouse in the Triangle.  

Edited July 9, 2018 by KJHburg

[KJHburg]

Huge Amazon warehouse coming to Garner more stories from N&O and Business Journal

https://www.bizjournals.com/triangle/news/2018/07/10/former-conagra-site-eyed-for-development.html?ana=e_ae_set1&s=article_du&ed=2018-07-10&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1531252779&j=82616471

https://www.newsobserver.com/news/business/article214631315.html

and Microsoft will lease 5000 sq ft in the Chesterfield Bldg in downtown Durham in partnership with Duke 

https://www.bizjournals.com/triangle/news/2018/07/10/microsoft-partnering-with-duke-in-downtown-durham.html?ana=e_ae_set1&s=article_du&ed=2018-07-10&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1531253112&j=82616471

[DanRNC]

On 7/9/2018 at 5:08 PM, RALNATIVE said:

With Amazon, Apple, the Army, and other large projects looming, they'd be wise to continue speculating for a while longer.

If they lose all 3 of these (2 losses are looking very probable), NC really needs to re-assess their economic development group. The politics are beyond hope. NC is great at catching minnows but can reel in the big fish. 

[KJHburg]

I would consider some of these big fishes over 2000 jobs with Infosys in Raleigh and Allstate in Charlotte.  That is on top of recent wins like Fidelity and MetLife  in the Raleigh Durham area.  I would say just wait and of those 2 big ones (Amazon and Apple) NC is likely to get one of them.   The Army research office is about 400 jobs I think  a great project but not as big as the others.  

http://businessnc.com/north-carolinas-top-job-creating-development-projects/

[DanRNC]

31 minutes ago, KJHburg said:

I would consider some of these big fishes over 2000 jobs with Infosys in Raleigh and Allstate in Charlotte.  That is on top of recent wins like Fidelity and MetLife  in the Raleigh Durham area.  I would say just wait and of those 2 big ones (Amazon and Apple) NC is likely to get one of them.   The Army research office is about 400 jobs I think  a great project but not as big as the others.  

http://businessnc.com/north-carolinas-top-job-creating-development-projects/

Let's say trans-formative.  I would say GSK and Nortel could fit in this category for NC (NIEHS as well-although not a corporation). There haven't been many of these in recent  years.