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Greater Greenville Economic Developments


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Thanks Citylife!

I seem to remember the vacancy rate was 18+% not that long ago, so there is some improvement recently. I wonder if the Landmark building is considered Class A or B. Given it's age, I would tend to think B, which means half of the vacancy is gone with the Windstream announceement.

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Pursuant to the authority of the Act, there is hereby authorized to be executed a Fee Agreement pertaining to the Project involving non-exempt investment in property subject to the payment of a fee in lieu of tax in the principal amount of not less than Ninety Million Dollars ($90,000,000) (the "Minimum Investment") during the Investment Period, which level of investment will be maintained for not less than twelve (12) years, with a non-exempt investment level of not less than Seventy Million Dollars ($70,000,000) to be maintained for the remaining term of the Fee Agreement.

Source: http://www.greenvillecounty.org/County_Council/_Agenda/County%20Council/April%203/IKE%20II%20Resolution%20v5.pdf

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Pursuant to the authority of the Act, there is hereby authorized to be executed a Fee Agreement pertaining to the Project involving non-exempt investment in property subject to the payment of a fee in lieu of tax in the principal amount of not less than Ninety Million Dollars ($90,000,000) (the "Minimum Investment") during the Investment Period, which level of investment will be maintained for not less than twelve (12) years, with a non-exempt investment level of not less than Seventy Million Dollars ($70,000,000) to be maintained for the remaining term of the Fee Agreement.

Source: http://www.greenvill...lution%20v5.pdf

That's a fairly sizable investment. It'd be nice if this were at Millenium Campus/ICAR.

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Pursuant to the authority of the Act, there is hereby authorized to be executed a Fee Agreement pertaining to the Project involving non-exempt investment in property subject to the payment of a fee in lieu of tax in the principal amount of not less than Ninety Million Dollars ($90,000,000) (the "Minimum Investment") during the Investment Period, which level of investment will be maintained for not less than twelve (12) years, with a non-exempt investment level of not less than Seventy Million Dollars ($70,000,000) to be maintained for the remaining term of the Fee Agreement.

Source: http://www.greenvill...lution%20v5.pdf

Guesses?

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Michelin to build plant in Anderson County

Greenville-based Michelin North America said today it will hire 500 people and invest $750 million in Anderson and Lexington counties to meet growing demand for the massive tires used on earth-moving equipment.

http://www.gsabusiness.com/news/43436-michelin-to-build-plant-in-anderson-county?rss=0

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And here it is ...

Japanese auto supplier JTEKT Corp. will build a second plant in Greenville County in the auto industry’s latest contribution to the Upstate economy.

JTEKT said Tuesday it would spend $120 million and hire 80 people over the next three years for the new plant, which it will build next to its existing plant at The Matrix industrial park along U.S. 25 in southern Greenville County.

“We are very happy to contribute to our community,” said Ike Ishikawa, president of JTEKT’s local manufacturing.

The company employs about 240 at the existing plant, including contract workers, making all-wheel-drive couplings for Ford, Chrysler and General Motors. It was built by Toyoda-Koki in 2000 and became part of JTEKT after a merger in 2006.

JTEKT also operates an engineering center at Clemson University’s International Center for Automotive Research and recently announced plans to spend $3 million on equipment there.

Ishikawa said the new plant would make driveline components for customers he was not at liberty to identify. He declined to say what the new assembly and machining jobs would pay.

Kevin Landmesser, vice president with the Greenville Area Development Corp., Greenville County’s economic development arm, said the existing plant is one of the best-performing plants in the company.

JTEKT’s decision to put more manufacturing in Greenville County “says a lot, I think, about work force, business environment, etc.,” Landmesser said.

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http://www.greenvilleonline.com/article/20120504/NEWS/305040005/Newcomers-plant-seeds-draw-other-businesses-downtown?odyssey=tab{sodEmoji.|}topnews{sodEmoji.|}text{sodEmoji.|}FRONTPAGE

Great article with lots of examples of positive feedback on the importance of downtown to economic development. For the moment at least it is NOT behind the paywall.

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http://www.greenvill...{sodEmoji.|}text{sodEmoji.|}FRONTPAGE

Great article with lots of examples of positive feedback on the importance of downtown to economic development. For the moment at least it is NOT behind the paywall.

I just finished reading this. I liked the diversity of perspectives. It's not simply a sunshine-pumping, flattery piece about our City, but rather dynamic look at the pull a downtown can have and the positive impact of over three decades of work.

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According to the Journal, Office space vacancy in Greater Greenville fell from 11.3 at the end of 2011 to 10.8 now, which is back to pre-recession levels. It has fallen steadily since 1Q 2010. The rate fell even though 31,423 SF was added to the inventory from three new buildings.

135,664 SF was absorbed in 1Q 2012.

Retail vacancy is now 6.1% for the UPSTATE and is the lowest in six years. It stood at 7.7% in 1Q 2010, and average rent is up from $9.60 to 10.03 a foot. The vacancy rate has fallen for nine consecutive quarters. 240,109 SF was absorbed in 1Q 2012.

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According to the Greenville News, a software venture company by the name of The Rap Index is looking at possibly moving its corporate headquarters downtown (specifically the West End) after securing million dollars in financing from Crest Capital Ventures. Their corporate offices are currently located along Woodruff Road.

Edited by citylife
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According to the Greenville News, a software venture company by the name of The Rap Index is looking at possibly moving its corporate headquarters downtown (specifically the West End) after securing million dollars in financing from Crest Capital Ventures. Their corporate offices are currently located along Woodruff Road.

That sounds great!

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Journal TBAs:

A major international company with no prior presence in the upstate and a global reputation as a powerhouse in the industry, energy and healthcare sectors is rumored to be considering a significant assembly facility in Greenville Co.

A belgian-owned developer and manufacturer of high-tech weaving mills around the world is expected to announce an expansion of Gville County operations and staffing within the next two weeks.

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