J-Rob

Economic Development - Expansions and Relocations

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27 minutes ago, KJHburg said:

Other interesting facts NC has the 2nd highest rural population in the country after Texas.  This is defined as people living in counties with fewer than 250 people per square mile. Over 4.2 million North Carolinians out of 10 million live in rural areas. 

 

 

This is why the NCGA gives so much "bias" to rural areas when allocating funds. Building interstates to smaller cities. Etc. These areas are also considerably less wealthy per capita so the government is helping the disadvantaged.  There aren't only people needing help in big cities.

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Well it is rural.  A throwback to the small agri-days and the tug of war from each city that deems itself more important than the next.  That in turn has led to the legacy of fightin over dollars, and the reason VA and SC had a 100 year head start on building cities.

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It is rural but some and most of it is suburban and urban. Think about the corridor from Rock Hill to Charlotte to Concord to Salisbury to Winston Salem to Greensboro to Raleigh/Durham. Most of the areas within that corridor is urban and suburban. Hopefully people in urban areas will really outweigh those in rural areas. 

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On 7/1/2018 at 9:14 PM, Cadi40 said:

 Hopefully the number in rural areas diminish. I don’t like the stereotype that NC is rural. 

It's already happening. The counties that are losing population or are stagnant can almost all be considered rural. And the ones with the highest population growth can almost all be considered urban.

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On 7/2/2018 at 8:25 AM, Cadi40 said:

It is rural but some and most of it is suburban and urban. Think about the corridor from Rock Hill to Charlotte to Concord to Salisbury to Winston Salem to Greensboro to Raleigh/Durham. Most of the areas within that corridor is urban and suburban. Hopefully people in urban areas will really outweigh those in rural areas. 

It's called the Piedmont Crescent.

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16 minutes ago, jednc said:

It's called the Piedmont Crescent.

Speaking of which, here's an epic govt-produced documentary on the Piedmont Crescent from 1968 (link

Edited by Crucial_Infra
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12 minutes ago, Crucial_Infra said:

Speaking of which, here's an epic govt-produced documentary on the Piedmont Crescent from 1968 (link

I don't have time to watch that tonight, but I added it to my watch later list. Thanks for posting! Looking forward to watching.

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11 hours ago, Crucial_Infra said:
Speaking of which, here's an epic govt-produced documentary on the Piedmont Crescent from 1968 (link

Thanks for posting this very informative video. I enjoyed seeing the old views of Charlotte from the air. Something we don't ever really see.

In case anyone doesn’t have time to watch the whole thing here are some highlights:

4:30 I-85 at Little Rock Rd. with the little airport in the back.

5:00 That's the old Statesville Rd I-85 interchange. Looks way different back then.

7:10 The tank farm out on Mt. Holly Rd.

7:50 The old Charlotte skyline. Miss some of those old buildings!

8:12 It's the Asian Corner Mall in its heyday!

8:27 Graham St. corridor 

17:03 and 6:00 Wilkinson Blvd.

22:17 Water treatment facility on Brookshire

23:30 Independence!

24:50 I think this is the 29/85 interchange in Concord. That part of I-85 was still under construction.

 

Edited by NCMike1990
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^^^^ Loved the old shots of Independence and yes the old McDonalds across from the Coliseum Shopping Center long gone and they spent way too much time on the US 29/I-85 interchange in Concord.   They whole intersection, start of the art in the 1960s,  is being wiped away now with a new diverging diamond crossover intersection.   Interesting and they were way off on the population of the Piedmont by year 2000 too low. 

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Here is the list I referenced on July 1 of the top economic expansions in NC and like the magazine says I am glad approx. half of them are out of the Charlotte and Raleigh Durham areas.    Remember Charlotte does not compete with Kinston or Hendersonville for job prospects we compete against peer cities outside the state.   

Take a look at the list.

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

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Here is what the county commission is doing with Amazon's huge new warehouse with 1500 jobs on the airport property.  I don't think this was necessary and at least the city was just reimbursing Amazon for the road realignments.   

NEW: #MeckBOCC approves around $5 million in tax reimbursements for Amazon. Amazon is building a new distribution center in west Charlotte. The county will reimburse the developer over 10 years. Amazon's new center will bring 1500 jobs to the west side @wsoctv

 

In other news Amazon is proposing a similar 2.5 million sq ft warehouse in the Raleigh suburb of Garner.  

Yet when Walmart leased a 107,000 sq ft office building in Water Ridge for close to 900-1000 employees not one incentive dollar was paid and one city councilperson said Walmart didn't need the help.  Interesting I guess it does not apply to Amazon.  https://www.bizjournals.com/charlotte/blog/real_estate/2015/06/wal-mart-signs-12-year-lease-for-office-building.html   

https://www.charlotteobserver.com/news/politics-government/article134723084.html

 

Edited by KJHburg
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How much incentives did Tennessee give AllianceBernstein to move to Nashville?  Well it will probably be years before Tennesseans  find out according to this article.  TN is not as open as NC is in these kinds of incentive disclosures.  https://www.bizjournals.com/nashville/news/2018/07/11/how-many-incentives-will-alliancebernstein-receive.html?ana=e_nsh_bn_exclusive&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1531328199&j=82636751

NC after a deal is made and accepted the public can find out which is the right thing to do. 

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One reason why companies won't move here:

No one to hire.  I've talked to many manufacturing clients (including one this morning) and they are having huge difficulty filling open positions.  The good news is that it's a common problem in desirable areas.  Even where/when unemployment is high, it's difficult to find desirable employees to work in a factory for $15-20 an hour.  That's why the immigration issue is largely a canard.  This country desperately needs lower wage workers to fill these jobs.

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2 hours ago, JBS said:

One reason why companies won't move here:

No one to hire.  I've talked to many manufacturing clients (including one this morning) and they are having huge difficulty filling open positions.  The good news is that it's a common problem in desirable areas.  Even where/when unemployment is high, it's difficult to find desirable employees to work in a factory for $15-20 an hour.  That's why the immigration issue is largely a canard.  This country desperately needs lower wage workers to fill these jobs.

Rural areas are seeing a massive upsurge in manufacturing jobs. They're all expanding and hiring more. So in state migration has probably slowed a lot for the lower wage, blue collar workers. You can make 12-15 an hour and live in considerably cheaper places instead of living in the comparatively expensive Charlotte on 15-20 per hour.

If they want to lure more people then they'll have to up the wages or find other ways to automate.

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Personally I think The Observer is trash as is most old school print and broadcast outlets. BUT I have to say this piece is actually very good. It is well sourced with legitimate people and does not use fear tactics in the writing or verbiage chosen. It’s not loaded one way or the other.

 

There seems to be some actual journalism here presented in a way to educate and inform.

 

From breweries to the farm, Trump tariff war produces winners and losers in Charlottehttps://www.charlotteobserver.com/news/business/article214574655.html

 

Anyone want to speculate what the 4/5 projects JE Dunn has that need lots of steel???

 

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NC is still ranked in the top 10 states for doing business as rated by economic trade group magazine Area Development magazine.  NC came in #6

https://www.bizjournals.com/charlotte/news/2018/09/26/carolinas-land-on-list-of-top-10-states-for-doing.html

Georgia takes the take spot

http://www.areadevelopment.com/Top-States-for-Doing-Business/Q3-2018/overall-results-georgia-ranked-top-state-by-site-selection-consultants.shtml

Edited by KJHburg
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Here is some good news about LendingTree (my favorite jersey patch sponsor in the NBA) continuing to grow.  One has to wonder if they might be in play for a Center City tower.  Initially they were going to move their headquarters to Southpark, but they outgrew that vision before the remodel even started.  The next rumor was that they were moving to Pineville, but I haven't heard much about that recently.  Last I heard, they were still considering their options.  With the continued expansions they may have decided to take a leap and go Uptown.  Potential sites include:

1. NAI Southern Midtown Tower

2. Spectrum SouthEnd Tower(s)

3. Lincoln Harris 2 (I think Jayvee or someone threw out a guess of "FinTech")

4. Second Anchor for DEC2

4. Back-filling space created by tenants going to new towers

https://www.bizjournals.com/charlotte/news/2018/10/05/charlottes-lendingtree-nabs-seattle-insurance.html

LT.jpg.cd90f67a1fc2e96994c58d1da35aff8c.jpg

LTPatch.thumb.jpg.ab7d1af0ef8cc81e8b04b1c89c6b93f9.jpg

 

Edited by J-Rob
grammar
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Third quarter 2018 real estate reports are rolling in and all are slightly different in the way they count space however the trend is the same.  The office market is performing great and the industrial warehouse market is even hotter.  

Cushman and Wakefield's Office and Industrial market reports

http://cushwakecharlotte.com/market-research/

Office market report from Savillis Studley

http://www.savills-studley.com/research/market-reports/2017/3q18-charlotte-office-market-report.pdf

and JLL's office market report can be downloaded here

https://www.us.jll.com/en/trends-and-insights/research/US-charlotte-office-insight-q3-2018-jll

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This could be good for Charlotte or bad depending on what happens.  Activist investor is wanting to force breakup of Campbell Soup Co which acquire Synder Lance into 2 companies one focusing on snack foods.  If this happens the logical choice would be in my opinion to have the new HQ of a snack company in Charlotte vs. CT where the operating costs would be much higher.   This is to watch in 2019.   https://www.marketwatch.com/story/third-point-to-explore-breakup-of-campbell-soup-if-it-wins-proxy-fight-2018-10-29?mod=newsviewer_click

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