Economic Development - Expansions and Relocations

[15895]

13 minutes ago, SydneyCarton said:

I'm just a strong backer for the QC.

You remind me of me when I was a high schooler posting on here. 

No offense intended. 

[videtur quam contuor]

delete

 

Edited January 24, 2022 by tarhoosier

[KJHburg]

MAJOR job announcement today at 2 pm at Greensboro's PTI Airport and it is Boom Supersonic with over 1700 jobs to make their supersonic jets.   Not too far from the HondaJet facility up there.  Great news for the entire state and suppliers will want to be close and that would include the Charlotte metro.  Along with the Toyota announcement the Triad is on a roll finally.  

""Boom Supersonic has been officially identified as the aircraft manufacturer that has chosen Piedmont Triad International Airport for its first manufacturing site of its next-generation Mach 1.7 supersonic passenger aircraft, Overture.  A meeting of the North Carolina Department of Commerce Economic Investment Committee (EIC) publicly revealed the name of the company as it approved a $106.7 million Job Development Incentives Grant (JDIG) for infrastructure and hangar construction at PTIA. That approval followed incentives awarded earlier in the morning by the Guilford Board of County Commissioners and Greensboro City Council. By the end of 2035 the project is expected to increase the North Carolina GDP by more than $32 billion.  The performance-based incentives require a minimum capital investment of $500 million and the creation of 1,761 jobs at an average annual wage of $69,000. The city’s package is a payment to the company of $1,500 per job created paying no less than $15 per hour, as much as $2.64 million. The county’s incentive package is an 80% reduction of property taxes paid over 10 years, an amount not to exceed $12.1 million.  Competition for the project included Jacksonville, Florida and Greenville-Spartanburg, South Carolina. It is expected to yield an economic $34 billion""

from Triad Biz Journal

[Reverie39]

8 hours ago, KJHburg said:

MAJOR job announcement today at 2 pm at Greensboro's PTI Airport and it is Boom Supersonic with over 1700 jobs to make their supersonic jets.   Not too far from the HondaJet facility up there.  Great news for the entire state and suppliers will want to be close and that would include the Charlotte metro.  Along with the Toyota announcement the Triad is on a roll finally.  

""Boom Supersonic has been officially identified as the aircraft manufacturer that has chosen Piedmont Triad International Airport for its first manufacturing site of its next-generation Mach 1.7 supersonic passenger aircraft, Overture.  A meeting of the North Carolina Department of Commerce Economic Investment Committee (EIC) publicly revealed the name of the company as it approved a $106.7 million Job Development Incentives Grant (JDIG) for infrastructure and hangar construction at PTIA. That approval followed incentives awarded earlier in the morning by the Guilford Board of County Commissioners and Greensboro City Council. By the end of 2035 the project is expected to increase the North Carolina GDP by more than $32 billion.  The performance-based incentives require a minimum capital investment of $500 million and the creation of 1,761 jobs at an average annual wage of $69,000. The city’s package is a payment to the company of $1,500 per job created paying no less than $15 per hour, as much as $2.64 million. The county’s incentive package is an 80% reduction of property taxes paid over 10 years, an amount not to exceed $12.1 million.  Competition for the project included Jacksonville, Florida and Greenville-Spartanburg, South Carolina. It is expected to yield an economic $34 billion""

from Triad Biz Journal

Aerospace and Defense is a field NC has been lacking in. Good to see a foot in the door.

[KJHburg]

from Twitter tonight

Cabarrus County and the City of Concord are having an unspecified "economic development announcement" Friday morning. 
@NCCommerce   Secretary Machelle Sanders will be in attendance.

[KJHburg]

16 hours ago, KJHburg said:

from Twitter tonight

Cabarrus County and the City of Concord are having an unspecified "economic development announcement" Friday morning. 
@NCCommerce   Secretary Machelle Sanders will be in attendance.

a $1 Billion Eli Lilly pharma plant approx. 600 jobs over a campus like setting.  

https://www.cabarrusedc.com/lilly-bringing-1-billion-investment-to-cabarrus/

Megasites bring mega deals we need more large scale business and industrial parks in this region!   This is great news as most of these jobs like went to the Triangle or eastern NC Greenville Rocky Mount or Wilson or Sanford.   This is game changing for this region with the upcoming medical school! 

[CLT2014]

Great news! Welcome Lily to the Charlotte region!

[cltbwimob]

I wonder if this was the big announcement @theronhobbsreferenced a few weeks back.  It’s not 6x the size of the Kroger distribution center though as he had suggested, so perhaps there is another game changer industrial manufacturer waiting in the wings

45 minutes ago, KJHburg said:

Megasites bring mega deals we need more large scale business and industrial parks in this region!   

Agreed. The Triad and the Triangle have been assembling large-scale industrial sites for a while now and they are starting to bear enormous fruit in strategically important manufacturing sectors.  It’s long past time for the Charlotte Region to dive into the industrial mega project game.  These industrial companies tend to pay solid middle-class wages and they lead to a significant amount of spinoff business- two important considerations for economic mobility of the region’s citizens.  Not everything has to be a white-collar F500 hq job.

[KJHburg]

Just now, cltbwimob said:

 

Agreed. The Triad and the Triangle have been assembling large-scale industrial sites for a while now and they are starting to bear enormous fruit in strategically important manufacturing sectors.  It’s long past time for the Charlotte Region to dive into the industrial mega project game.  These industrial companies tend to pay solid middle-class wages and they lead to a significant amount of spinoff business- two important considerations for economic mobility of the region’s citizens.  Not everything has to be a white-collar F500 hq job.

Exactly these are great jobs and I know a park called Larkin in Iredell County will have large industrial sites.  How about some around the airport not for distribution but for industrial like this plant?  CLT owns lots of surplus acreage.   Cabarrus now even now needs to start planning another big industrial park.  

[videtur quam contuor]

Indianapolis native here. Lilly and Company has been the greatest industrial and philanthropic organisation in the history of that city. Even today the company has the main headquarters downtown where it was more than a hundred years ago. No suburban flight for them. In a business fraught with risk and reputational danger Lilly has managed to remain upright for a very long time. The Lilly family donated large gifts of money and land and buildings to the public and company and family are respected today as in the past. I owned Lilly stock for some years as a sentimental purchase and it was good to me financially during that time. The Lilly and Indianapolis names are inseparable. As a quality company one could hardly do better.

[ArchiCLT]

5 hours ago, KJHburg said:

a $1 Billion Eli Lilly pharma plant approx. 600 jobs over a campus like setting.  

https://www.cabarrusedc.com/lilly-bringing-1-billion-investment-to-cabarrus/

Megasites bring mega deals we need more large scale business and industrial parks in this region!   This is great news as most of these jobs like went to the Triangle or eastern NC Greenville Rocky Mount or Wilson or Sanford.   This is game changing for this region with the upcoming medical school! 

There it is!! Proud to be a part of this project. Renderings will be released soon.

4 hours ago, cltbwimob said:

I wonder if this was the big announcement @theronhobbsreferenced a few weeks back.  It’s not 6x the size of the Kroger distribution center though as he had suggested, so perhaps there is another game changer industrial manufacturer waiting in the wings

Sizes fluctuate. Haven't checked them in awhile. But over 800k SF is still over 4x larger than Kroger at 200k. Pharmaceutical manufacturing is different than a fulfillment/distribution center.

There's a reason why North Carolina had the nation's top business climate in 2021, according to Site Selection magazine, and the void of Philip Morris is proving to be fruitful for Cabarrus County and the Charlotte metro area. https://siteselection.com/press/releases/211101.html

SITE SELECTORS' TOP LOCATION CRITERIA FOR 2021

• 1. Workforce skills
• 2. Transportation infrastructure
• T3. Workforce development
• T3. Ease of permitting and regulatory procedures
• 5. Utilities (cost, reliability)
• 6. Right-to-work state
• T7. Higher education resources
• T7. State and local tax scheme
• T9. Economic development strategy
• T9. Land/building prices and supply

[KJHburg]

Just read this from City of Concord press release about Eli Lilly there is still 600 acres left at the Grounds of Concord aka old Phillip Morris site.

https://concordnc.gov/Services/Community/News/ID/105/Lilly-Bringing-$1-Billion-to-Concord,-Cabarrus-County

[rancenc]

The site where the new Eli Lilly facility will be was never developed by Phillip Morris...just essentially excess land so to speak.  

[Windsurfer]

5 minutes ago, rancenc said:

The site where the new Eli Lilly facility will be was never developed by Phillip Morris...just essentially excess land so to speak.  

"Just".   Too bad they can't reuse the site that was built up.

[KJHburg]

Ball Can company and Red Bull will be where the old cigarette plant was built.  It was demo'ed as it was not able to be converted to anything useful. 

[cltbwimob]

Delete

Edited January 29, 2022 by cltbwimob

[cltbwimob]

4 hours ago, theronhobbs said:

There it is!! Proud to be a part of this project. Renderings will be released soon.

Sizes fluctuate. Haven't checked them in awhile. But over 800k SF is still over 4x larger than Kroger at 200k. Pharmaceutical manufacturing is different than a fulfillment/distribution center.

Aww man, I was hoping that there was still another big announcement waiting in the wings. Oh well, it’s still great that we actually got a big name manufacturer in a strategically important advanced industry.  
 

In the past year, I’ve seen so many major manufacturers go to the Triad and Triangle…I was getting pretty sick of seeing little more than spec warehouses and distribution centers for our industrial market while they notched major manufacturer after major manufacturer in advanced industries.  Glad this wasn’t just another distribution center.

[SydneyCarton]

I’m glad to see this in Charlotte, but I’m surprised that it didn’t go to the Triangle given its strength in pharmaceuticals.

[KJHburg]

^ Actually a lot of pharmaceutical manufacturing in NC is done outside of Wake and Durham counties.  Much of the R & D is there for sure  and there is some pharma plants there but the biggest ones are in Sanford,  Greenville, Rocky Mount, Wilson and Clayton (eastern NC) 

https://businessnc.com/eli-lilly-makes-a-huge-bet-on-north-carolina/   Obviously the Triangle's strengths in pharma helped but this is a statewide industry.   I do think with the new Med school we will get spinoffs in the future.    This is a great win for this region and the state as a whole. 

[SydneyCarton]

4 minutes ago, KJHburg said:

^ Actually a lot of pharmaceutical manufacturing in NC is done outside of Wake and Durham counties.  Much of the R & D is there for sure  and there is some pharma plants there but the biggest ones are in Sanford,  Greenville, Rocky Mount, Wilson and Clayton (eastern NC) 

https://businessnc.com/eli-lilly-makes-a-huge-bet-on-north-carolina/   Obviously the Triangle's strengths in pharma helped but this is a statewide industry.   I do think with the new Med school we will get spinoffs in the future.    This is a great win for this region and the state as a whole. 

Interesting.  I didn’t know about Sanford, etc.  Frankly, I didn’t even know that the Triangle is a pharma powerhouse until I moved to Chapel Hill, but it is, indeed, a massive industry here.

Anyway, the Lily plant is good for the QC.

 

 

Edited January 31, 2022 by SydneyCarton

[KJHburg]

2 minutes ago, SydneyCarton said:

Interesting.  I didn’t know about Sanford, etc.  Frankly, I didn’t even know that the Triangle is a pharma powerhouse until I moved to Chapel Hill, but it is, indeed, a massive industry here.

Anyway, the Lily plant is good for the QC.

 

 

Pfizer has a huge plant in Sanford.  I knew after Covid started and supply problems started NC would be the beneficiary of new pharma plants as the traditional areas California Massachusetts and Maryland are very expensive places to operate in as well as New Jersey. 

[Windsurfer]

4 hours ago, KJHburg said:

Pfizer has a huge plant in Sanford.  I knew after Covid started and supply problems started NC would be the beneficiary of new pharma plants as the traditional areas California Massachusetts and Maryland are very expensive places to operate in as well as New Jersey. 

Any connection with Dole Foods (antibiotics, etc) ?

[KJHburg]

Cabarrus County EDC sent this out today.  While most in Meck don't think of this it is very important in the ring counties to balance residential growth which they are all getting with commercial and industrial development.  Cabarrus is the fastest growing NC county in metro area.

[JHart]

13 hours ago, KJHburg said:

Glad to see that Cabarrus 1st grade math class is being retained 

[videtur quam contuor]

Four houses would send maybe six children to public school. The commercial/industrial investment of 1 million$ would send zero students to school. In fiscal year 2019 46% of county budget was education. Page 70 of this document:

https://docs.cabarruscounty.us/WebLink/1/edoc/1827850/Fiscal-Year-2019-Budget.pdf