Economic developments in the Midlands

[growingup15]

A sketch and rendering of a proposed shopping center on the site of the city-owned Capital City Stadium reveals the developer's plans to build smaller, greener, and pedestrian and bicycle-friendly.

Atlanta-based developer Bright-Myers plans to build approximately 193,000 sq. ft. of retail space in downtown Columbia on a 23-acre section of the Olympia neighborhood.

[CorgiMatt]

USC economists said a couple of weeks ago at their annual assessment and predictions conference that the best measure of economic progress is total employment growth, not unemployment rates, and within the state In 2011 Columbia is performing well in total employment growth, quite well in fact.

http://dew.sc.gov/documents/lmi-monthly-trends/November_2011.pdf

[CorgiMatt]

Columbia-based South Carolina Bank & Trust is acquiring an Upstate bank for $28 million to create the state's sixth largest bank.

http://www.thestate.com/2011/12/20/2086489/columbia-based-scbt-to-buy-fourth.html

[krazeeboi]

I'm glad this wasn't the result of a state-based bank failing and that no branches (eight total) are expected to close. This is just the regular acquisition of a smaller bank by a larger one.

[CorgiMatt]

Providence Hospital Northeast is expanding and creating 75 to 100 jobs. BTW, Palmetto Baptist has begun land preparation for its Irmo hospital off of I-26.

http://www.columbiabusinessreport.com/news/42367-providence-hospital-northeast-to-get-38-4m-upgrade?rss=0

[krazeeboi]

Unfortunately, there's some not-so-good news: Bose Corp. is laying off 200 workers from its speaker plant near Blythewood as it transitions jobs to Malaysia.

Read more here: http://www.thestate.com/2012/02/04/2139830/bose-laying-off-200.html#storylink=cpy

[CorgiMatt]

This is disappointing, but if they continue to maintain a presence here maybe they'll eventually do as some other companies are starting to do and rehire here as a rise in off-shore wages starts eating into their profits.

[growingup15]

Moving jobs to another country stupid very stupid. what happened to good quality "AMERICAN" jobs anymore. job you know you don't have to worry about them moving to china or Europe or Africa ect. know what i mean?

Moving jobs to another country stupid very stupid. what happened to good quality "AMERICAN" jobs anymore. job you know you don't have to worry about them moving to china or Europe or Africa ect. know what i mean?

[krazeeboi]

Diversified Information Technologies, a document management company, said it will open four new facilities, including one in Columbia, as part of a coordinated national expansion over the next four months. The new facilities are located in Minneapolis, Hartford, Conn., Columbia and Portland, Ore. The new markets will serve clients in the financial services, insurance, health care and government sectors along with professional associations. DIT provides customized document management solutions for five of the top 10 financial services firms nationwide, three of the top 10 life insurance providers, more than 350 health care providers and hospitals, and multiple federal agencies.

This company seems like a natural fit for Columbia, given the types of clients it services comprise the primary pillars of the local economy.

[CorgiMatt]

Columbia is one of ten American cities where manufacturing is booming, according to an MSNBC report. It seems reasonable that the region's low growth in GDP, its decrease in median income, and its net loss of jobs from June 2010 to June 2011 that are cited in the report reflect layoffs in state government that occurred after the 2008 recession did a number on the state government's budget. Those layoffs have abated, and the region actually saw a net gain of 8,500 jobs from December 2010 to December 2011. On a side note, Nephron Pharmaceuticals will break ground on their 700-employee manufacturing plant today in Cayce.

http://bottomline.msnbc.msn.com/_news/2012/03/21/10760009-cities-where-manufacturing-is-booming

[CorgiMatt]

Aflac is doubling its Columbia workforce again, adding another 400 jobs downtown. It is looking to combine its two downtown-area offices into one to accommodate a total of 825 employees by year's end. "Columbia is an insurance town," a company spokesman says. Who knows? Maybe they'll double their local workforce again before long and add another 800 jobs.

http://www.thestate.com/2012/04/12/2231267/aflac-to-add-400-midlands-workers.html

[growingup15]

Aflac is doubling its Columbia workforce again, adding another 400 jobs downtown. It is looking to combine its two downtown-area offices into one to accommodate a total of 825 employees by year's end. "Columbia is an insurance town," a company spokesman says. Who knows? Maybe they'll double their local workforce again before long and add another 800 jobs.

http://www.thestate....ds-workers.html

More great economic News for Columbia

[carolinagarnet]

USC has the #10 undergraduate insurance program, which I would assume is due to support from Colonial Life, Blue Cross, and the other insurance companies in the area. Interestingly, Georgia and Georgia State are also ranked in the Top 10. I don't know if there is a connection between the rankings and Aflac being located in Georgia, but I would hope that the company's expansion into Columbia might mean bigger donations and more opportunities for research and hiring.

[lucjanrc]

My only concern with the Aflac announcement is that they plan to move all 825 employees under one roof, I am not sure that there is a building downtown that has that much office space available, excluding the Palmetto Center.

[krazeeboi]

My only concern with the Aflac announcement is that they plan to move all 825 employees under one roof, I am not sure that there is a building downtown that has that much office space available, excluding the Palmetto Center.

That's the best place to house them.

It's good that the word is going out that Columbia has a strong insurance sector, which is part of a pretty robust FIRE sector overall.

[lucjanrc]

I would say the Capitol Center, since the Palmetto Center will be turned into a dormitory. They would just have to move people around in the Capitol Center to accommodate them.

[CorgiMatt]

Mr. Holder, are you thinking what I'm thinking?

[growingup15]

My only concern with the Aflac announcement is that they plan to move all 825 employees under one roof, I am not sure that there is a building downtown that has that much office space available, excluding the Palmetto Center.

hhmm maybe a New Headquarters in downtown. Tower or just a large building maybe? because i dont think there current building is big enough.

[Spartan]

The commitment by Aflac to downtown Columbia is impressive. When you look at their suburban campus in Columbus, this move is somewhat surprising. I would be surprised if they build a new building though. I'm sure they can get a good deal on existing space.

[CorgiMatt]

The commitment by Aflac to downtown Columbia is impressive. When you look at their suburban campus in Columbus, this move is somewhat surprising. I would be surprised if they build a new building though. I'm sure they can get a good deal on existing space.

Did they even say they'll necessarily be staying downtown? I hope they do.

[Spartan]

That's a good point. I guess it was implied/inferred.

[growingup15]

2 quick things in my opinion and idea.

1st this is my vision for Bluff Rd @ I-77 in the next 10-15 Years. a mixture of Mix use, Hotels, Residental (Condos, Townhomes & Single Family), Retail and Mid rise to High rise Hotels and Apartments.

2 this is my predicted area (just my opinion) of Future growth in Mid Rise Condo, Apartment, Retail, ECT. and Industrial.

[johnpro318]

2 quick things in my opinion and idea.

1st this is my vision for Bluff Rd @ I-77 in the next 10-15 Years. a mixture of Mix use, Hotels, Residental (Condos, Townhomes & Single Family), Retail and Mid rise to High rise Hotels and Apartments.

2 this is my predicted area (just my opinion) of Future growth in Mid Rise Condo, Apartment, Retail, ECT. and Industrial.

Your first photo isn't showing up. I also think the south of the city will receive a lot of growth because of existing interstates and greenfield opportunities for new buildings. I think you shouldn't discount the infill that is sure to occur around the new Whole Foods store headed down Devine Street towards downtown, areas in Five Points and the Vista, and West Columbia near the river which has a lot of abandoned stores and could become very urban.

Edited May 11, 2012 by johnpro318

[growingup15]

Your first photo isn't showing up. I also think the south of the city will receive a lot of growth because of existing interstates and greenfield opportunities for new buildings. I think you shouldn't discount the infill that is sure to occur around the new Whole Foods store headed down Devine Street towards downtown, areas in Five Points and the Vista, and West Columbia near the river which has a lot of abandoned stores and could become very urban.

The first picture should be back.

[CorgiMatt]

My vision for Columbia is for the original grid to be filled in with density through planning and ordinances. Screw the rest, or at least let it take care of itself.