Economic Development - Expansions and Relocations

[DeleteMe]

9 minutes ago, navigator319 said:

The average wage for the jobs is projected to be $28,388 per year.

Sure 1,200 jobs sounds good, but this average wage is paltry.

Making America great again.

[CLT704]

Can we please avoid politics, or insinuations to politics, in a thread like this?

[KJHburg]

13 minutes ago, MACyr said:

Making America great again.

However you must think all those workers will live in $1200 a month 500 sq ft apartments in Charlotte.   It is much less expensive out in northern Rowan county and that is where their labor will come from.  About 15 bucks a hour and good jobs for a rural part of the region.  I guess I would rather have someone working than waiting on a check.  And as I have said repeatedly a more prosperous region full of people working means dollars at restaurants, concerts, ball games etc for the entire region. 

Edited April 17, 2019 by KJHburg

[cltbwimob]

29 minutes ago, CLT704 said:

Can we please avoid politics, or insinuations to politics, in a thread like this?

Unfortunately, I think that is impossible on UP these days.  Everyone has to get their shots in.

[pgsinger]

I would be weary of PetSmart these days. They have significant amounts of debt coming due in the midterm due to their take over by PE a few years back.  Their credit tanked a couple years back due to this.  Additionally, their execution of the take over and merger of Chewy into their online sales system has been awful.  Additionally, those order puller positions are easily replaced by machines.  If you ever get a chance to seen an Amazon picker, I would suggest you not turn it down.  

If the jobs last, then I agree with KJ.  People can live on $28k a year in some rural areas.  It can also provide a stepping stone to other roles elsewhere. 

[DeleteMe]

Economics and urban development ARE political people.  Where development occurs, how people get to jobs, salaries, taxes, expenses are directly or indirectly poltical.  

Do the math.  $9000 a year to own a reliable the car that you have to have to get to a job in 2019, and housing costs.  Having to own a car, and housing costs (and options) are directly attributable to poltical decisions made about fiscal policy and transportation investments that have created our current automobile dependent pattern of development.  Add health insurance costs that we know are political.  Toss in food.  Supply-side economics is political.  In the bad old days of Keysian economics, in 1965 for example, 28k a year was equal to approximately $3500.  Then, the median annual income for American was about $6000, less than half and much closer to $3500.   Today, the median income $61,000, is significantly more...2.19x more.....than $28,000.  In 1965, lowering paying jobs were frequently within walking distance of affordable housing.  Today, walkability is a luxury, benefiting the wealthy as low income employers chase cheap land in the hinterlands to maximize profits.  Using the "it's better than waiting on a check" is a ridiculous defense of  bad economic policies and ignores the reality of our public welfare system.  Are some jobs better than no jobs?  Not exactly.  The point of having a job is to be able support yourself and perhaps advance your standing in the world.  $28k a year arguably does neither,  

If this discussion belongs in the political thread, move it.  But to pretend that economic development isn't poltical is absurd.

https://www.investopedia.com/articles/pf/08/cost-car-ownership.asp

 

[cltbwimob]

^^^The point is that you, with your MAGA comment above, needlessly hijacked the thread and attempted to make it into a naive commentary on Trump (a president you loathe).  To what end you were doing this I’m not exactly sure.

From 2009-2016, during Obama’s presidency, Charlotte and the surrounding region got more than it’s fair share of low wage jobs such as warehousing and call center jobs-thousands upon thousands in fact.  If you don’t believe me go take a gander at the posts in the Good News Report thread during that time frame.  No one felt the need then to provide thinly-veiled criticisms of Obama-era economic policies just because we were getting those low wage jobs; why do you feel the need to turn this thread into commentary on Trump other than just a general disdain for the guy?  

Additionally the implied argument in the MAGA comment is weak.  If the insinuation is Trump’s policies cause low wage job growth, then what is to be said of Trump and his policies when high wage jobs come along?  I will remind you that only a few months ago Charlotte went through a streak of major job announcements that were almost all high wage.  Did you jump on this thread to praise  Trump when it seemed as if every other day there was a fintech job announcement?

You can comment on the benefits/pitfalls of job growth in low wage industries without making it into a politically charged commentary.  Even though politics and economic development are intertwined, there is no real reason to use an economic development thread as a conduit through which to convey your personal disdain for the President.   We get it.  You and about 95% of the people who routinely post on UP do not like President Trump.  I personally don’t care for a lot of the things he does either, but my personal thoughts on President Trump are immaterial to about 99% of UP threads, this one included.  The same applies to everyone else who feels the need to replace thoughtful, topic-based discussion with the personal political grievances du jour.  Can we please move along?

 

Edited April 18, 2019 by cltbwimob

[SMSRedux]

Random interjection, but it definitely does not cost $9000 a year to own a reliable car.

[nicholas]

2 minutes ago, SMSRedux said:

Random interjection, but it definitely does not cost $9000 a year to own a reliable car.

I’m guessing he’s taking gas/insurance/etc into account, but that’s still a ridiculously high figure. It’s like $189 a month to lease a Corolla. 

[KJHburg]

This German auto parts manufacturing plant in Mooresville was built in 11 months and the German plant manager was quick to point out it was 2 weeks late!

https://www.bizjournals.com/charlotte/news/2019/04/18/photos-mooresville-auto-parts-plant-to-start.html     to have 300 jobs when in full production.  

Edited April 19, 2019 by KJHburg

[urbanlover568]

46 minutes ago, KJHburg said:

This German auto parts manufacturing plant in Mooresville was built in 11 months and the German plant manager was quick to point out it was 2 weeks late!

https://www.bizjournals.com/charlotte/news/2019/04/18/photos-mooresville-auto-parts-plant-to-start.html     to have 300 jobs when in full production.  

Really great to see new activity in that area  With NASCAR loosing investment, that park has been on the decline. 

[Nick2]

$15/hr and probably having full time benefits like insurance is a pretty sweet deal for rural mill towns here in the south. Charlotte is the exception, not the rule. 

Just up the road in Thomasville there are furniture manufacturers making only 10-12 an hour. 15 could actually pretty easily sustain a conservative (NOT THE POLITICAL KIND) lifestyle. 

[QCxpat]

Today's CBJ  -  "U.S. Bank expanding retail presence with first branch in Charlotte," by Caroline Hudson.

Excerpt:  "U.S. Bancorp (NYSE: USB) is expanding its retail presence into North Carolina with its first branch in Charlotte.  The new branch will be at 201 S. Tryon St. in Uptown.  ...  U.S. Bank's uptown retail branch is set to open in the fall. The plan is to add 10 more branches by the end of 2020.  Those locations are yet to be determined, but a spokesperson for U.S Bank confirmed that executives are eyeing the Charlotte metro area.   'Charlotte is an exceptional market, and we expect to be a positive economic force there that helps individuals build strong financial futures and business owners reach their financial goals and objectives,' said Tim Welsh, vice chairman of consumer and business banking, in a statement."

Link;  https://www.bizjournals.com/charlotte/news/2019/04/22/u-s-bank-to-expand-retail-presence-with-first.html?

[U_R_]

2015 County GDP $20B+
Los Angeles, CA $691.948 Billion
New York, NY $690.040 Billion
Harris, TX $395.784 Billion
Cook, IL $382.626 Billion
King, WA $262.665 Billion

Santa Clara, CA $262.053 Billion
Orange, CA $260.660 Billion
Dallas, TX $245.923 Billion
Maricopa, AZ $215.381 Billion
San Diego, CA $214.056 Billion

Fulton, GA $157.352 Billion
San Francisco, CA $154.176 Billion
Middlesex, MA $147.992 Billion
Miami-Dade, FL $141.734 Billion
Suffolk, MA $135.075 Billion

Hennepin, MN $134.207 Billion
Washington, DC $125.434 Billion
Alameda, CA $112.676 Billion
Philadelphia, PA $110.339 Billion
Oakland, MI $108.836 Billion

Tarrant, TX $108.496 Billion
Mecklenburg, NC $108.173 Billion
Clark, NV $104.761 Billion
Bexar, TX $101.462 Billion
Fairfax, VA $100.218 Billion

San Mateo, CA $99.019 Billion
Cuyahoga, OH $97.421 Billion
Broward, FL $96.519 Billion
Travis, TX $95.123 Billion
Fairfield, CT $93.957 Billion

Montgomery, MD $91.701 Billion
Franklin, OH $91.683 Billion
Nassau, NY $90.762 Billion
Orange, FL $89.817 Billion
Allegheny, PA $89.047 Billion

Marion, IN $88.508 Billion
DuPage, IL $87.146 Billion
Wayne, MI $87.017 Billion
Suffolk, NY $84.761 Billion
Montgomery, PA $81.404 Billion

Sacramento, CA $80.956 Billion
Queens, NY $80.882 Billion
Hartford, CT $79.802 Billion
Salt Lake, UT $79.721 Billion
St Louis, MO $78.587 Billion

Hillsborough, FL $77.093 Billion
Palm Beach, FL $76.866 Billion
Westchester, NY $75.894 Billion
Denver, CO $75.738 Billion
San Bernardino, CA $74.457 Billion

Hamilton, OH $73.204 Billion
Contra Costa $72.356 Billion
Riverside, CA $71.921 Billion
Bergen, NJ $68.910 Billion
Kings, NY $68.430 Billion

Wake, NC $67.768 Billion
Honolulu, HI $64.696 Billion
Shelby, TN $63.196 Billion
Lake, IL $64.208 Billion
Davidson, TN $61.728 Billion

Middlesex, NJ $60.757 Billion
Duval, FL $60.146 Billion
Milwaukee, WI $56.860 Billion
Morris, NJ $55.713 Billion
Collin, TX $55.558 Billion

Oklahoma, OK $54.586 Billion
Jeffersom, KY $53.082 Billion
Essex, NJ $52.975 Billion
Ventura, CA $52.597 Billion
Erie, NY $51.589 Billion

Norfolk, MA $50.941 Billion
Tulsa, OK $50.334 Billion
Balitmore, MD $49.403 Billion
New Castle, DE $49.375 Billion
Jackson, MO $46.585 Billion

New Haven, CT $45.142 Billion
Monroe, NY $44.497 Billion
Johnson, KS $44.483 Billion
Baltimore(City), MD $44.334 Billion
Anne Arundel, MD $44.269 Billion

Cobb, GA $44.138 Billion
Pinellas, FL $44.125 Billion
Gwinnett, GA $43.473 Billion
Dane, WI $43.394 Billion
Arapahoe, CO $43.330 Billion

Washington, OR $43.040 Billion
Douglas, NE $43.024 Billion
Chester, PA $42.967 Billion
Jefferson, AL $42.641 Billion
Polk, IA $42.225 Billion

Kern, CA $42.087 Billion
Fresno, CA $40.842 Billion
Durham, NC $39.710 Billion
Kent, MI $39.705 Billion
Essex, MA $39.673 Billion

Ramsey, MN $39.320 Billion
Somerset, NJ $39.316 Billion
Prince George's, MD $38.782 Billion
Union, NJ $38.320 Billion
Arlington, VA $38.277 Billion

Pima, AZ $37.022 Billion
Snohomish, WA $36.838 Billion
Bernalillo, NM $35.651 Billion
Macomb, MI $35.254 Billion
DeKalb, GA $35.110 Billion

Providence, RI $34.338 Billion
Pierce, WA $34.050 Billion
Guilford, NC $33.832 Billion
East Baton Rouge, LA $33.515 Billion
Monmouth, NJ $32.766 Billion

Bronx, NY $31.177 Billion
St Louis(City), MO $31.058 Billion
Bucks, PA $30.862 Billion
El Paso, CO $30.633 Billion
Waukesha, WI $30.218 Billion

Pulaski, AR $29.087 Billion
Delaware, PA $28.937 Billion
Summit, OH $28.494 Billion
Albany, NY $28.447 Billion
Onondaga, NY $28.411 Billion

El Paso, TX $28.123 Billion
Will, IL $28.042 Billion
Greenville, SC $27.953 Billion
Denton, TX $27.820 Billion
Charleston, SC $27.578 Billion

Sedgwick, KS $27.331 Billion
Virginia Beach, VA $26.763 Billion
Henrico, VA $26.571 Billion
San Joaquin, CA $26.492 Billion
Lancaster, PA $26.274 Billion

Jefferson, CO $26.043 Billion
Montgomery, OH $26.025 Billion
Hillsborough, NH $26.005 Billion
Sonoma, CA $25.323 Billion
Knox, TN $25.144 Billion

Lucas, OH $25.005 Billion
Kane, IL $24.344 Billion
Worcester, MA $24.321 Billion
Lehigh, PA $24.320 Billion
Anchorage, AK $24.240 Billion

Loudoun, VA $24.236 Billion
Dakota, MN $24.106 Billion
Ada, ID $24.060 Billion
Boulder, CO $24.023 Billion
Washoe, NV $24.013 Billion

Lee, FL $23.806 Billion
Howard, MD $23.643 Billion
Hamilton, TN $23.511 Billion
Montgomery, MD $23.451 Billion
Richland, SC $23.401 Billion

Jefferson, TX $23.039 Billion
Midland, TX $22.959 Billion
Norfolk, VA $22.852 Billion
Forsyth, NC $22.792 Billion
Orleans, LA $22.748 Billion

Camden, NJ $22.728 Billion
Madison, AL $22.603 Billion
Dauphin, PA $22.548 Billion
Jefferson, LA $21.911 Billion
Monterey, CA $21.836 Billion

Lake, IN $21.821 Billion
Des Moines, IA $21.677 Billion
Adams, CO $21.590 Billion
Washtenaw, MI $21.506 Billion
Fort Bend, TX $21.303 Billion

Solano, CA $21.213 Billion
Williamson, TX $21.135 Billion
Marin, CA $21.128 Billion
Ocean, NJ $20.932 Billion

Rockland, NY $20.909 Billion
Hampden, MA $20.830 Billion
Cumberland, ME $20.821 Billion
Fayette, KY $20.717 Billion
Spokane, WA $20.689 Billion
Neuces, TX $20.594 Billion

Utah, UT $20.508 Billion
Richmond, VA $20.504 Billion
Brevard, FL $20.453 Billion
Placer, CA $20.215 Billion
Passaic, NJ $20.165 Billion

Stanislaus, CA $20.104 Billion

These were some of the biggest county GDPs from 2015. The BEA released this in December I believe. 

[U_R_]

The counties in GA

Fulton, GA $157.352 Billion
Cobb, GA $44.138 Billion
Gwinnett, GA $43.473 Billion
DeKalb, GA $35.110 Billion

The counties in NC

Mecklenburg, NC $108.173 Billion

Wake, NC $67.768 Billion

Durham, NC $39.710 Billion

Guilford, NC $33.832 Billion

Forsyth, NC $22.792 Billion

Counties in TN

Shelby, TN $63.196 Billion

Davidson, TN $61.728 Billion

Knox, TN $25.144 Billion

Hamilton, TN $23.511 Billion

Counties in FL

Miami-Dade, FL $141.734 Billion
Broward, FL $96.519 Billion

Orange, FL $89.817 Billion

Hillsborough, FL $77.093 Billion
Palm Beach, FL $76.866 Billion

Duval, FL $60.146 Billion

Pinellas, FL $44.125 Billion

Lee, FL $23.806 Billion

Brevard, FL $20.453 Billion

[tozmervo]

8 minutes ago, Ric0_0 said:

Mecklenburg, NC $108.173 Billion

Wake, NC $67.768 Billion

Shelby, TN $63.196 Billion

Davidson, TN $61.728 Billion

The Tennessee counties were the biggest surprises to me. Shelby is Memphis, and Davidson is Nashville. I though for sure Davidson would have surpassed Shelby years ago - I guess it's the "FedEx" factor? I'm also surprised that both of those counties fell below Wake County.

[cltbwimob]

11 minutes ago, tozmervo said:

The Tennessee counties were the biggest surprises to me. Shelby is Memphis, and Davidson is Nashville. I though for sure Davidson would have surpassed Shelby years ago - I guess it's the "FedEx" factor? I'm also surprised that both of those counties fell below Wake County.

The biggest surprise to me is how much bigger Mecklenburg’s economy is compared to Wake even though their population is almost exactly the same.  Mecklenburg’s economy is larger than  Wake and Durham Counties combined.  I wonder why this is the case.

[U_R_]

21 minutes ago, tozmervo said:

The Tennessee counties were the biggest surprises to me. Shelby is Memphis, and Davidson is Nashville. I though for sure Davidson would have surpassed Shelby years ago - I guess it's the "FedEx" factor? I'm also surprised that both of those counties fell below Wake County.

Shelby County has around 900k while Davidson has around 700k.

Mimi-Dade surprised me the most. It has such a huge population but its GDP does not reflect that.

Edited April 22, 2019 by Ric0_0

[KJHburg]

1 hour ago, Ric0_0 said:

Shelby County has around 900k while Davidson has around 700k.

Mimi-Dade surprised me the most. It has such a huge population but its GDP does not reflect that.

They really don't make anything in Miami Dade sure a few things. But Mecklenburg county has a lot of manufacturing not to mention services.    Most of the RTP is in Durham County and government doesn't contribute much to GDP LOL. 

[Crucial_Infra]

1 hour ago, cltbwimob said:

The biggest surprise to me is how much bigger Mecklenburg’s economy is compared to Wake even though their population is almost exactly the same.  Mecklenburg’s economy is larger than  Wake and Durham Counties combined.  I wonder why this is the case.

It’s simply a matter of Triangle employment being more sprawled. Most corporate presence in the Charlotte region is based in Mecklenburg. The Triangle — mostly because RTP straddles both Durham and Wake  — is split.  That’s mostly why Mecklenburg is so much more dominant on paper. Also/However, neither Wake or Durham has a corporate entity as large As BofA  so that plays a part too. 

[SoDoSoPa]

4 hours ago, tozmervo said:

The Tennessee counties were the biggest surprises to me. Shelby is Memphis, and Davidson is Nashville. I though for sure Davidson would have surpassed Shelby years ago - I guess it's the "FedEx" factor? I'm also surprised that both of those counties fell below Wake County.

Shelby Co. is huge, it extends all the way out to Collierville, while Davidson doesn't include areas such as Franklin etc..

[KJHburg]

the new Charlotte Regional Business Alliance has been noted as one of the top economic development organizations in its first year.  So it is off to a good start and they have a great product to sell this region.

https://charlotteregion.com/news/2019/05/01/top-stories/charlotte-regional-business-alliance-named-top-ed-group-for-2019/

[J-Rob]

Does Amazon have back-office operations somewhere in Charlotte?  I saw two finance-related jobs pop up on LinkedIn, which surprised me.  Maybe they are decentralized finance jobs located with area warehouses, but I would be surprised if Amazon had decentralized finance organization.  There were only a couple of jobs posted, but I was just curious.

[rancenc]

Glad to see new investment and jobs in counties such as Anson...of course it is a loss for Mecklenburg.

https://governor.nc.gov/news/adhesives-sealants-manufacturing-company-will-invest-66-million-anson-county

[TheOneRJ]

Lowe’s looking at Uptown and South End for the location of 2,000 IT jobs. Dallas is also competing. https://www.google.com/amp/s/amp.charlotteobserver.com/news/business/article230656429.html