Triangle Economic News

[po-boy]

Ouch. Apple to Austin. 

https://www.wraltechwire.com/2018/12/13/apple-to-build-new-campus-in-texas-add-employees-at-other-sites/

[DanRNC]

Another thud. Thank your NC bubbas. Bottom line is that NC might as well be SC now - if you love Jesus and sweet iced tea c'mon on down y'all. The problem is no one is buying. 

[ctl]

Actually, Greenville-Spartanburg is doing quite well.

Blaming it on the bubbas might be accurate, but it's also an easy way out. Maybe the truth is that the Triangle just isn't as attractive, relatively speaking, as its boosters think. Maybe all the downtown-centric proposals cannot hook the big fish. Maybe the Triangle's government and business communities are incompetent at getting new business. Maybe there were influential people in the Triangle (not bubbas) who never wanted Amazon or Apple in the first place

Whatever the reason, it makes RTP's accomplishments in the 1960s, 1970s, and 1980s to bring IBM, Glaxo, Burroughs Wellcome, Nortel, Cisco, etc here even more remarkable. Bubbas were 100% in charge back then, I should add. 

Edited December 14, 2018 by ctl

[kermit]

3 hours ago, ctl said:

Whatever the reason, it makes RTP's accomplishments in the 1960s, 1970s, and 1980s to bring IBM, Glaxo, Burroughs Wellcome, Nortel, Cisco, etc here even more remarkable. Bubbas were 100% in charge back then, I should add. 

It was a different species of Bubba back then. (modernizers vs. traditionalists)

but you are absolutely right, RTP was a moonshot-level achievement — there is much there to be proud of. Unfortunately those efforts were a generation ago, the ED community is now focused on getting to Mars.

Edited December 14, 2018 by kermit

[DanRNC]

Oh I didn't mean to downplay the total incompetence/lethargy of the Raleigh-Durham area business/civic leadership. The whole self-defeatist mentality in the region is baffling to me.  

[rucker]

yeah, no bubbas at all in Texas. This was about playing RDU and Nova for $$$$. They never had any intentions of anything other than doubling down in Austin.

[Jones_]

Back about 15 years ago or so, Raleigh had a downtown revival website that highlighted all of the projects happening downtown, public, private and institutional. That was nice for keeping up with things, but offered nothing in the way of a *plan for how to grow. I realize there was a City-wide master plan (since redone)with small area plans meant to *guide growth. But even those felt like just a book report that recapped what the private sector was already asking for. The planning has always felt ad-hoc here. The vision at points along the way, utterly lacking. Stealing from Raleigh Connoisseur comments, it is 'protectionist' and welcomes 'antiseptic', basic stuff. I know one reason people move here is low taxes...well I believe is very much hamstrung by these low taxes...we can't building anything without selling bonds...infrastructure repair is quite obviously always behind in what is apparently a thriving city with low unemployment.  Very different than the business progressive State and local ideals back during the RTP formation, good or bad, there were well developed plans for everything...State government, highways, office centers...nowadays we're all like 'we want some big progressive tech firms to come here', but don't have a plan full of the goodies they want. Hamstrung. Unsure. Unprepared. That's RDU right now.  

[KJHburg]

Wake County seems to be doing pretty good in 2018 lets see Advance Auto HQ, Arch Capital Insurance HQ, Pendo Software 590 jobs adds, opening of the new Infosys 2000 jobs office.  expansion at MetLife, Ipreo tech company expanding downtown, Credit Suisse breaking ground on their expansion, etc.

1 hour ago, DanRNC said:

Oh I didn't mean to downplay the total incompetence/lethargy of the Raleigh-Durham area business/civic leadership. The whole self-defeatist mentality in the region is baffling to me.  

Doesn't sound like this to me.   Check  out the press releases go back all through 2018   from the Wake County EDC http://raleigh-wake.org/news-and-media/news-and-rankings 

As one of the fastest growing cities in the country with plentiful jobs Raleigh and Wake County (and the entire Triangle) are envy of most places in the country.   

[KJHburg]

California data storage firm from San Jose picks Durham for major expansion.  Subscriber article but some highlights below

https://www.bizjournals.com/triangle/news/2018/12/14/fast-growing-california-data-storage-firm-picks.html?ana=e_du_prem&s=article_du&ed=2018-12-14&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1544820129&j=85555681

""Cohesity, which initially tapped Raleigh for the office, is relocating locally to Bristol Place at the Imperial Center Business Park in Durham, according to the Silicon Valley Business Journal, tripling its office to 25,000 square feet, including a software research lab, with space for 190 employees. According to Cohesity, the plan is to double in the Triangle, hiring as many as 70 across a wide array of job functions, including engineering, customer support, sales and administrative roles.   And that includes in the Triangle, where Aron said earlier this year to expect a "huge" office.

“It’s just such a pool of talent available here,” he said in March, pointing to the presence of firms such as NetApp and Cisco. “You know how tech people are. They tend to collect in some pockets, and RTP is a very flourishing pocket… It is great to be where the technical talent is.”  Driving that hiring is a 300 percent growth in revenue and a quadrupling in the number of customers using Cohesity's hybrid secondary storage.""

 

[RALBOI]

1 hour ago, KJHburg said:

Wake County seems to be doing pretty good in 2018 lets see Advance Auto HQ, Arch Capital Insurance HQ, Pendo Software 590 jobs adds, opening of the new Infosys 2000 jobs office.  expansion at MetLife, Ipreo tech company expanding downtown, Credit Suisse breaking ground on their expansion, etc.

Doesn't sound like this to me.   Check  out the press releases go back all through 2018   from the Wake County EDC http://raleigh-wake.org/news-and-media/news-and-rankings 

As one of the fastest growing cities in the country with plentiful jobs Raleigh and Wake County (and the entire Triangle) are envy of most places in the country.   

Hello everyone, I'm back ! You make a great point and after seeing this your right is was a great year ! I Think the fact that is was Apple and it was assumed that we had it in the Bag is what hurts .

[DeleteMe]

4 hours ago, kermit said:

It was a different species of Bubba back then. (modernizers vs. traditionalists)

but you are absolutely right, RTP was a moonshot-level achievement — there is much there to be proud of. Unfortunately those efforts were a generation ago, the ED community is now focused on getting to Mars.

Those Bubba's understood that it was going to take government involvement to bring NC out of poverty.  If it were up to the current clowns in charge, North Carolinians would still be reading by candlelight and driving on cart paths.   Commence firing...

3 hours ago, rucker said:

yeah, no bubbas at all in Texas. This was about playing RDU and Nova for $$$$. They never had any intentions of anything other than doubling down in Austin.

Texas has oil and gas.  Florida has tourism.   Not to mention that the state of Texas and the federal government have made massive investments in Texas, and it doesn't hurt that Texas covers an area that would include Georgia, the Carolinas, Virginia.  

Edited December 14, 2018 by MACyr

[KJHburg]

Inc. Magazine spotlights the Raleigh Durham area as having some of the best tech pipeline in the country.   https://www.inc.com/magazine/201902/kevin-j-ryan/north-carolina-raleigh-research-triangle-2018-surge-cities.html

[KJHburg]

20 North Carolina companies attending the huge Las Vegas Consumer Electronics Show including many from the Triangle area.

https://www.bizjournals.com/charlotte/news/2018/12/26/the-nc-firms-including-four-in-the-charlotte-area.html?ana=e_ae_set4&s=article_du&ed=2018-12-26&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1545855510&j=85719161

[ctl]

My sympathies for them. Once upon a time I had to attend COMDEX shows, and CES draws many more people today. It's a zoo. 

[Merthecat]

Wahlburgers in downtown closes after only 7 months of operation:

https://www.wral.com/wahlburgers-closes-in-downtown-raleigh/18090635/

[DanRNC]

Not surprising. I guess the hype over a mediocre hamburger lasted one millisecond. On a more global take, I just don't see downtown Raleigh supporting national brands that rely on high volume, so good luck Urban Outfitters etc. 

[KJHburg]

all I can say is very interesting.   Large tract is sold in RTP the very large tract Apple was considering and the person at the center of the LLC is/was a lobbyist for you guess it Apple.

Stay tuned.

https://www.wraltechwire.com/2018/12/28/is-apple-still-considering-rtp-for-a-campus-land-sale-stokes-speculation/

[DPK]

14 hours ago, KJHburg said:

all I can say is very interesting.   Large tract is sold in RTP the very large tract Apple was considering and the person at the center of the LLC is/was a lobbyist for you guess it Apple.

Stay tuned.

https://www.wraltechwire.com/2018/12/28/is-apple-still-considering-rtp-for-a-campus-land-sale-stokes-speculation/

Meh.

All the media hype and soul-crushing string-alongs by the Army, Amazon, and Apple have left me not caring about crap like this anymore.  They can go plop down in Canada for all I care at this point.

[KJHburg]

Just now, DPK said:

Meh.

All the media hype and soul-crushing string-alongs by the Army, Amazon, and Apple have left me not caring about crap like this anymore.  They can go plop down in Canada for all I care at this point.

I understand and I do think so many media leaks got everyone's hopes up.   But something is afoot here for sure.  Just have to wait.  There is a reason the Triangle area is growing so fast and with many California based tech companies and tech companies from everywhere.  

[Jones_]

On 12/28/2018 at 2:54 PM, DanRNC said:

Not surprising. I guess the hype over a mediocre hamburger lasted one millisecond. On a more global take, I just don't see downtown Raleigh supporting national brands that rely on high volume, so good luck Urban Outfitters etc. 

Wait....there was hype about this place? Like, other than paid for hype?

[Merthecat]

At least they're living up to their name. 

[DanRNC]

On 12/28/2018 at 6:45 PM, KJHburg said:

all I can say is very interesting.   Large tract is sold in RTP the very large tract Apple was considering and the person at the center of the LLC is/was a lobbyist for you guess it Apple.

Stay tuned.

https://www.wraltechwire.com/2018/12/28/is-apple-still-considering-rtp-for-a-campus-land-sale-stokes-speculation/

I will bet my life savings that this will NOT be Apple! 

[KJHburg]

13 minutes ago, DanRNC said:

I will bet my life savings that this will NOT be Apple! 

who knows but someone believes in the RTP and that location.  we shall see. They don't sell land to speculators or developers only end users and they were approved for an onsite day care center too. 

Edited January 3, 2019 by KJHburg

[DanRNC]

Nothing but nonsense news as it was a slow day in the Triangle. Rick Smith, that hack at the Local Tech Wire, has no credibility and is usually the one drumming this sh-t up. 

[KJHburg]

It is a fact the property was sold to someone an LLC and it is a fact an onsite day care center was approved for that site.  Somebody plans to build something there.  We will see.