Economic Development - Expansions and Relocations

[tozmervo]

My anecdotal experience with searching flights recently is that the $ spread between American direct options and American/Other indirect options has widened substantially. Several searches recently yielded direct flights that were $200 or more than the indirect options. I don't remember ever being so baffled or frustrated shopping for air fares.

[15895]

55 minutes ago, tozmervo said:

My anecdotal experience with searching flights recently is that the $ spread between American direct options and American/Other indirect options has widened substantially. Several searches recently yielded direct flights that were $200 or more than the indirect options. I don't remember ever being so baffled or frustrated shopping for air fares.

Charlotte is a captive market. I thought I remember seeing somewhere like Cincinnati (when it was a DL hub) and Charlotte having among the highest local airfares in the country. 

FYI, if you haven't tried Skiplagged, that's what I use for flights to Charlotte. It's perfect for Charlotte. 

[TCLT]

56 minutes ago, AirNostrumMAD said:

Charlotte is a captive market. I thought I remember seeing somewhere like Cincinnati (when it was a DL hub) and Charlotte having among the highest local airfares in the country. 

FYI, if you haven't tried Skiplagged, that's what I use for flights to Charlotte. It's perfect for Charlotte. 

A word of warning on using Skiplagged. The way that site gets cheaper fares is against the airlines' terms of service and the airlines do put some effort into identifying it. If they catch you they could charge you a fare difference or cancel/suspend your loyalty account. Here's a memo AA put out to travel agents early last year saying they were on the look out for it. It's probably safe to use for occasional travel as it seems like the airline isn't really taking action much at all against it unless you're doing it A LOT. But the same was true about credit card sign up bonus exploits until it wasn't and they started shutting down people's accounts.

[KJHburg]

from the articles about Centene's decision to cancel their office project this from Mr Chung of the Economic Development Partnership of NC said this and this is very interesting :

 

"""Christopher Chung, head of the Economic Development Partnership of North Carolina, the public-private entity that recruits businesses in tandem with the state commerce department, told CBJ on Aug. 19 that this type of reckoning will be with us for at least the next couple of years as companies and their workers figure out what they want, what’s possible, and what’s most efficient. He pointed to a decision last month by Advance Auto Parts (NYSE: AAP) to exit their incentives agreement in Raleigh tied to a headquarters agreement negotiated in 2018. The company’s reasons mirrored Centene’s: Remote work reduced the need for office space and, in many cases, the need for new hires or existing employees to be in the headquarters city.

Chung told CBJ that, prior to Covid, his group’s recruiting broke down like this: 70% of prospects were industrial, including manufacturing, food processing, distribution and data centers, while 30% were office-based projects such as Centene, Advance Auto Parts, Apple Inc. (NASDAQ: AAPL) and Honeywell International Inc. (NASDAQ: HON). Now, the ratio is 95% industrial and 5% office.    “Will it come back?” Chung asked. “That’s the question.”

And that shift means an overwhelming majority of prospects are looking for suburban, exurban and rural sites — not cities. Chung acknowledged the change as well as lingering uncertainty, noting that commercial real estate investors and developers as well as urban downtown leaders are grappling with such questions in a constant, visceral way. From commercial real estate to transit investments, the societal shifts under way will carry significant influence, he added."""

https://www.bizjournals.com/charlotte/news/2022/08/22/north-carolina-centene-post-covid-recruiting-edpnc.html

Edited August 28, 2022 by KJHburg

[BarrenLucidity]

One of the interesting things my company has been doing is shifting to smaller, more high end, 10,000 sqft regional offices for the occasional in person event or sales meeting. We bit the bullet and moved all 2500+ employees to remote this year. It's working well enough that I can see it as a future for many small and midcap companies. 

[turbocraig]

Hmmm...  Wonder if NC is in the running for this, especially with Honda's history here with the HondaJet plant.  We're a known entity to them.

https://www.cnn.com/2022/08/29/business/honda-lg-electric-vehicles/index.html

[KJHburg]

this appears to be going to happen to the Siler City megasite in eastern Chatham County.  SE of Greensboro W of Durham.

1800 jobs in a semiconductor plant.

https://wraltechwire.com/2022/09/01/wolfspeed-picks-chatham-county-for-new-semiconductor-plant-1800-jobs/

https://edpnc.com/megasites/chatham-siler-city/  and yes Chatham County has the other megasite which is now the Vinfast factory site in the eastern part of the county and this site is not too far from the Randloph county megasite of Toyota Battery. 

The Charlotte region needs multiple megasite options or these will continue to bypass this area.   We need to start working on this yesterday. 

Edited September 3, 2022 by KJHburg

[DCMetroRaleigh]

2 hours ago, KJHburg said:

this appears to be going to happen to the Siler City megasite in eastern Chatham County.  SE of Greensboro W of Durham.

1800 jobs in a semiconductor plant.

https://wraltechwire.com/2022/09/01/wolfspeed-picks-chatham-county-for-new-semiconductor-plant-1800-jobs/

https://edpnc.com/megasites/chatham-siler-city/  and yes Chatham County has the other megasite which is now the Vinfast factory site in the eastern part of the county and this site is not too far from the Randloph county megasite of Toyota Battery. 

The Charlotte region needs multiple megasite options or these will continue to bypass this area.   We need to start working on this yesterday. 

Yes, the Charlotte region needs megasites. But where? Eastern Union? Anson? Stanly? Rowan and Davidson?  Northern Iredell or Davie?

[kermit]

Surprised that NC does not do better on this metric (bested by Georgia and Tennessee?):

[KJHburg]

Another NC megasite has a taker this time a Wolfspeed semiconductor plant.  Wolfspeed old Cree is based in Durham but their last plant went to upstate NY.   $5 Billion investment and 1800 jobs. 

https://wraltechwire.com/2022/09/09/wolfspeed-5-billion-investment-plant-chatham-county/

This site is also in Chatham County near Siler City but very close to the Toyota battery plant in Randolph County.

Greensboro  is 36 minutes away 31 miles

Asheboro is 25 minutes away 19 miles

Burlington is 41 minutes away from the site.  

Many of these 1800 employees will live in Chatham Randolph and yes Guilford Counties.  

NC Megasites left in Person County north of Durham, Edgecombe Rocky Mount site, and 2 in the Wilmington area   Again none anywhere close to Charlotte. 

[KJHburg]

As important as snagging big plants are nurturing and growing small upstart firms is just as important.  Here is a story on a Kannapolis pharmaceutical upstart.

https://www.bizjournals.com/charlotte/inno/stories/news/2022/09/09/pharmaceutical-startup-genixus-tech-hospitals.html

[DCMetroRaleigh]

2 hours ago, KJHburg said:

Another NC megasite has a taker this time a Wolfspeed semiconductor plant.  Wolfspeed old Cree is based in Durham but their last plant went to upstate NY.   $5 Billion investment and 1800 jobs. 

https://wraltechwire.com/2022/09/09/wolfspeed-5-billion-investment-plant-chatham-county/

This site is also in Chatham County near Siler City but very close to the Toyota battery plant in Randolph County.

Greensboro  is 36 minutes away 31 miles

Asheboro is 25 minutes away 19 miles

Burlington is 41 minutes away from the site.  

Many of these 1800 employees will live in Chatham Randolph and yes Guilford Counties.  

NC Megasites left in Person County north of Durham, Edgecombe Rocky Mount site, and 2 in the Wilmington area   Again none anywhere close to Charlotte. 

The I-685 Corridor is going be quite impressive Next decade 

[SydneyCarton]

 Not a relo, but good news nonetheless.  It’s Bo-Time!

Extra-large order: Bojangles expanding its Charlotte HQ in move to another part of town BY CATHERINE MUCCIGROSSO UPDATED SEPTEMBER 12, 2022 11:05 PM

Bojangles, the iconic chicken-and-biscuit fast-food chain, said late Monday afternoon it is moving its Charlotte headquarters and more than doubling its space. But it’s not going too far. The 45-year-old company will move out of its longtime corporate offices at 9432 Southern Pine Blvd. in south Charlotte into a much larger space just about 1 1/2 miles away at 500 Forest Point Circle. Bojangles expects to move about 170 employees into the new offices next year, the company said in a news release Monday. Its employees currently work in separate facilities at multiple buildings….

Read more at: https://www.charlotteobserver.com/news/business/whats-in-store/article265665701.html#storylink=cpy

 

 

Edited September 13, 2022 by SydneyCarton

[kermit]

^ Wake me when Bo's announces an experimental kitchen on site (like Krispy Kreme in Southend)

(has that KK kitchen ever been mentioned since the opening?)

[Blue_Devil]

6 minutes ago, kermit said:

^ Wake me when Bo's announces an experimental kitchen on site (like Krispy Kreme in Southend)

(has that KK kitchen ever been mentioned since the opening?)

No, and I am going to be honest, that Krispy Kreme in the HQ is an embarrassment and arguably the worst quality KK in the whole state.  

[SouthernSkyline]

1 hour ago, Blue_Devil said:

No, and I am going to be honest, that Krispy Kreme in the HQ is an embarrassment and arguably the worst quality KK in the whole state.  

Seriously. Last time I was there flies were all over the donuts. I now go to the Cotswold store for my Krispy Kreme fix. You would think they would try a little harder.

[DMann]

Do you want flies with that!!!

[RANYC]

4 hours ago, DMann said:

Do you want flies with that!!!

I mean, would flies on them be any worse for your health?  

[DonkeyKong]

1 hour ago, RANYC said:

I mean, would flies on them be any worse for your health?  

Might be better with the extra protein on them. 

[RANYC]

4 minutes ago, DonkeyKong said:

Might be better with the extra protein on them. 

Out of hand 

[J-Rob]

I don't really know where to put this, so I will put it here. I found this article fascinating. It talks about athletes getting involved in the VC world.  I think most of us know that is happening. The more interesting news to me is that the Green Bay Packers partnered with Microsoft to start an incubator and draw start ups to the frozen tundra.

This seems like it would be right in Tepper's wheelhouse. We already have some Fintech incubators, but it would be cool if the Panthers (and maybe Hornets too) could partner with some of their corporate sponsors (like Honeywell or Atrium/Novant, or maybe Lowe's) to create a new incubator in Charlotte focused on diversifying industries in the area. 

 

https://www.bizjournals.com/charlotte/inno/stories/inno-insights/2022/09/14/sports-startup-venture-capital.html?cx_testId=40&cx_testVariant=cx_23&cx_artPos=1#cxrecs_s

 

Does anyone on this board have Tepper's number?

Edited September 15, 2022 by J-Rob

[CarolinaDaydreamin]

https://www.cnbc.com/2022/07/13/north-carolina-is-no-1-in-americas-top-states-for-business.html

 

[atlrvr]

This was short lived:

https://www.google.com/amp/s/buffalonews.com/news/local/new-columbus-mckinnon-ceo-buys-buffalo-home-sets-city-record-for-purchase-price/article_9accecbe-ebab-11ea-b66e-9b387da5605f.amp.html

 

Cause:

https://www.google.com/amp/s/buffalonews.com/business/local/columbus-mckinnon-to-move-hq-to-charlotte-n-c/article_9a35a4b6-383a-11ed-8a49-df6833497514.amp.html

[jednc]

On 9/15/2022 at 11:47 AM, J-Rob said:

I don't really know where to put this, so I will put it here. I found this article fascinating. It talks about athletes getting involved in the VC world.  I think most of us know that is happening. The more interesting news to me is that the Green Bay Packers partnered with Microsoft to start an incubator and draw start ups to the frozen tundra.

This seems like it would be right in Tepper's wheelhouse. We already have some Fintech incubators, but it would be cool if the Panthers (and maybe Hornets too) could partner with some of their corporate sponsors (like Honeywell or Atrium/Novant, or maybe Lowe's) to create a new incubator in Charlotte focused on diversifying industries in the area. 

 

https://www.bizjournals.com/charlotte/inno/stories/inno-insights/2022/09/14/sports-startup-venture-capital.html?cx_testId=40&cx_testVariant=cx_23&cx_artPos=1#cxrecs_s

 

Does anyone on this board have Tepper's number?

I've had Tepper's number since the day he bought the team. He's a db. 

[tozmervo]

On 9/20/2022 at 8:54 PM, jednc said:

I've had Tepper's number since the day he bought the team. He's a db. 

"There’s no such thing as an ethical billionaire."