Greater Greenville Economic Developments

[NewlyUpstate]

21 minutes ago, cabelagent said:

We now have a federal government that's interested in shelling out billions of dollars that has everything to do with furthering their liberal agenda & pet projects...nothing to do with a pandemic.  It does not matter the national debt must be paid in the future by our great grandchildren...I imagine they won't be as grateful as you are.  I was never employed with a business or company started and operated by welfare recipients...those wicked wealthy people can be pathetic sometimes.     

Not to get too political, but you realize the first Trump tax bill was the same size and primarily benefited people making above 20%? This bill fairly equally benefited people of all income classes. Just saying facts, not showing my opinion like you are doing here. Not to mention is provided some very much needed help for our city.  Speaking as someone part of the top 10% whos wealth grew by 30% in the last year.. I'm happy those that are most needing of this aid are getting it.

Edited March 12, 2021 by NewlyUpstate

[gman430]

 They should have just gave every citizen $5,500 and called it a day. However, I don’t have a problem with the local governments receiving aid seeing how they have been hurt just as badly as the states have when it comes to their budgets. I also like how the money can be used on an expanded list of items compared to the last few rounds of funding. 

Edited March 12, 2021 by gman430

[vicupstate]

8 hours ago, cabelagent said:

We now have a federal government that's interested in shelling out billions of dollars that has everything to do with furthering their liberal agenda & pet projects...nothing to do with a pandemic.  It does not matter the national debt must be paid in the future by our great grandchildren...I imagine they won't be as grateful as you are.  I was never employed with a business or company started and operated by welfare recipients...those wicked wealthy people can be pathetic sometimes.     

Our grandchildren will be paying back $4 trillion in Trump stimulus too, but I don't recall the Right complaining when he did.  

[greenjoesc]

couldn't find a woodruff road or shops of Greenridge subject, but Buy Buy Baby will close in the Shops.  Wasn't sure if that was well known or not.

[cabelagent]

13 hours ago, vicupstate said:

Our grandchildren will be paying back $4 trillion in Trump stimulus too, but I don't recall the Right complaining when he did.  

There was not much complaining from hardly anyone on both sides...Trump stimulus $$ was approved (bipartisan support) & went for (the most part) Covid related concerns.  I have no issues with those expenditures...they were a necessity.  My concerns are with the new (stimulus) bill that Democrats are shamefully taking advantage of a pandemic situation by piling on billions more spending for their liberal programs & causes that are not Covid related.  I'm sorry you do not see this...it is documented in the bill  and not fake news.  BTW....I understand a sizeable portion of $$$ in earlier bills remains unspent.  Someday we won't be able to afford the interest payments for all this borrowed $$$.  Hope the great grands graciously accept  the huge tax increases they will face.  To be honest...I believe this country is doomed now...a precedent has been cast and we'll likely attempt to borrow/spend our way out of another pandemic situation such as this. It may wreck the economy...be even more difficult to return to a 'normal' that will likely be complex.  

Edited March 13, 2021 by cabelagent

[cabelagent]

22 hours ago, NewlyUpstate said:

Not to get too political, but you realize the first Trump tax bill was the same size and primarily benefited people making above 20%? This bill fairly equally benefited people of all income classes. Just saying facts, not showing my opinion like you are doing here. Not to mention is provided some very much needed help for our city.  Speaking as someone part of the top 10% whos wealth grew by 30% in the last year.. I'm happy those that are most needing of this aid are getting it.

I'm puzzled why you're  referring to a tax bill from 2017.  That tax bill actually stimulated the economy...making it stronger & enabling you & many other non-millionaires to increase their wealth. Many new companies &  jobs were created preparing the country to ride the pandemic in a stronger fiscal position...that is a fact. The issue is massive excessive SPENDING (actually borrowing) included in  a new stimulus bill that funds Democrat liberal causes/programs that are not covid related.  It is documented in the bill....not fake news. I'm not against spending $$$ for the many that have suffered from the pandemic....it is irresponsible to take advantage of a (pandemic) situation with excessive spending that likely saddles our grandchildren's future with massive tax increases...just to pay the interest on borrowed $$$.              

Edited March 13, 2021 by cabelagent

[vicupstate]

The Trump tax cut did nothing to help the economy as a whole instead  it led to massive stock buybacks and a significant increase in the deficit. 

Congressional study finds little economic benefit from 2017 tax cut  

2017 Tax Cuts and Jobs Act = TCJA

 

Quote

CRS calculated that the TCJA reduced federal revenue by about $170 billion in Fiscal Year 2018, with corporations benefitting most from the tax cuts. 

CRS concluded the after adjusting for inflation, wages grew more slowly than overall economic output, and at a pace relatively consistent with wage growth prior to passage of the TCJA

White House messaging, news organizations paid great attention to anecdotal stories of firms giving workers bonuses in late 2017, just as the TCJA was becoming law. But as Gravelle and Marples note, reported bonuses were equivalent to about $28 per US worker. And many were announced so firms could deduct the cost at their higher 2017 tax rate of 35 percent instead of the 2018 rate of 21 percent.

The one strong effect of the TCJA was its deep cut in effective corporate tax rates, from 17.2 percent in 2017 to 8.8 percent in 2018.

CRS confirms what was well-reported at the time: Much of it went to $1 trillion in stock buybacks.

 Companies didn’t see a way to earn significantly higher returns by investing the money in capital or labor. And that may explain, more than anything, why the TCJA’s effects on the 2018 economy are so hard to find.

This video explains in more detail

Trump's Stock Buyback Bamboozle

I make twice the SC average income and the tax cut saved me $500, which is about 1.25 a day.  The  average person makes less than that so about $1 a day or less.  My tax accountant had software that did the calculation both ways and that is what it showed from the first year.  About 20% of individuals actually saw their taxes INCREASE from the 2017 law.  The tax cut for individuals will sunset in 2026, but the cut for business and the wealthy are permanent. 

The increased cost of goods due to the Trump tariffs more than wiped out the minor tax cut for middle/low incomes from 2017.  

In summary the 2017 law gave tiny tax cuts to most Americans which will disappear in a few more years, yet the corporate tax rate was cut in half permanently.  The corporate savings was directly into stock buybacks which directly increases CEO compensation and performance (with no effort on their part). The deficit rose significantly which will lead to calls (from the GOP) to cut Medicare and Social Security, which the people that didn't get a real tax cut in the first place, depend on and paid into.     

 

  

[gman430]

700 new jobs: 

https://www.greenvillecounty.org/Council/_Agenda/Meetings of 2021/County Council/2021.03.16/P Orca Inducement Resol.pdf

Edited March 15, 2021 by gman430

[distortedlogic]

https://upstatebusinessjournal.com/finance/first-palmetto-bank-begins-operations-in-greenville-hires-local-market-leaders/

Here's something i just ran across. Another bank increasing its presence here. It already has some operations on Halton. I wonder if this could be another future HQ? 

[gman430]

Awesome to see this returning:  

https://www.wyff4.com/article/bass-announces-2022-bassmaster-classic-will-be-held-at-lake-hartwell/35979911?utm_source=Sailthru&utm_medium=email&utm_campaign=A 'huge' sporting event is returning to the Upstate.&utm_term=wyff_news_local_breaking

Edited March 30, 2021 by gman430

[vistatiger]

On 3/12/2021 at 12:46 PM, greenjoesc said:

couldn't find a woodruff road or shops of Greenridge subject, but Buy Buy Baby will close in the Shops.  Wasn't sure if that was well known or not.

For what it's worth someone posted in another forum they are moving to the former AC Moore space at Plaza Green near their parent company store ( Bed Bath and Beyond).  

Edited March 31, 2021 by vistatiger

[gman430]

“With the first Tier III-designed data center now under construction in South Carolina, businesses adopting digital transformation strategies are set to have access to the most reliable and interconnected facility in the State,” said Mark Masi, DC BLOX COO. 
 

https://upstatebusinessjournal.com/tech-design/dc-blox-breaks-ground-in-greenville-county-sc-for-its-regional-data-center/

[NewlyUpstate]

delete

Edited August 12, 2021 by NewlyUpstate

[rancenc]

New development in the works for Greer.

https://greenvillejournal.com/community/greer-sc-city-council-notes-more-development-on-the-way-city-considers-rezoning-for-more-shooting-ranges/

[rancenc]

Jobs and investment coming to Greenville.

https://governor.sc.gov/news/2021-08/mecart-inc-establishing-operations-greenville-county

[ingvegas]

Anyone know what is being built at 101 Cleveland Street (29601). 

[Tigers81]

$345k building permit issued to "Eight O'Clock Partners LLC". They were incorporated in September of 2020. Not that this helps much but that is the extent of what i could find.

[ingvegas]

13 minutes ago, Tigers81 said:

$345k building permit issued to "Eight O'Clock Partners LLC". They were incorporated in September of 2020. Not that this helps much but that is the extent of what i could find.

Thanks. Eight O'Clock was the name of the former grocery store next door. So maybe someone wants to bring a smaller version (grab and go) back, the developer that built Alta Vista Place over the old Eight O'Clock named their LLC after it, or the famous Eight O'Clock coffee roaster is getting into retail now. 

[rancenc]

Jobs and investment coming to Oconee County.

https://governor.sc.gov/news/2021-10/prezero-us-expanding-operations-oconee-county

[rancenc]

Jobs and investment coming to Greenwood!

https://governor.sc.gov/news/2021-09/monti-inc-expanding-operations-greenwood-county

https://governor.sc.gov/news/2021-09/impresa-building-systems-greenwood-sc-llc-establishing-modular-construction-operations

Edited October 7, 2021 by rancenc

[SVL]

https://upstatebusinessjournal.com/square-feet/canal-insurance-company-to-relocate-to-former-bank-of-america-building-in-downtown-greenville/

I wonder what this means for their current location?

[gman430]

28 minutes ago, SVL said:

https://upstatebusinessjournal.com/square-feet/canal-insurance-company-to-relocate-to-former-bank-of-america-building-in-downtown-greenville/

I wonder what this means for their current location?

Their current location is going to be redeveloped into a mixed use project that coordinates with Northpointe.

[GvilleSC]

1 hour ago, SVL said:

https://upstatebusinessjournal.com/square-feet/canal-insurance-company-to-relocate-to-former-bank-of-america-building-in-downtown-greenville/

I wonder what this means for their current location?

This is the type of population infusion and absorption of vacant office space that we need. Glad to see them relocating to the heart of downtown! 

[SVL]

5 minutes ago, GvilleSC said:

This is the type of population infusion and absorption of vacant office space that we need. Glad to see them relocating to the heart of downtown! 

This is a win win for not only downtown office space but also the Stone/N Main area.  It's becoming more and more walkable and redeveloping their old space will only add to that.

[GvilleSC]

1 minute ago, SVL said:

This is a win win for not only downtown office space but also the Stone/N Main area.  It's becoming more and more walkable and redeveloping their old space will only add to that.

That's a great point, SVL.

I hope the redevelopment of the Canal site is nicer aesthetically than Northpointe.