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The Good News Report


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3 hours ago, KJHburg said:

From this map we should be doing a lot of recruiting out of PA, NJ, Mass, and CT for companies. Our new 3% corp. income is the lowest in the country of the states with corp. income taxes and only a few do not. Texas property taxes are extremely high if you do a corporate built to suit. 

Or Minnesota home to US Bank HQ and a 9.8% rate.  I'll post it again...here is a map of coverage if US Bank and BB&T were to merge.  

Bank-Merger-.jpg.26208256792005dff35f06099e9338c6.jpg

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Trending data does show that Charlotte specifically will continue booming into 2017. Of course Raleigh/RTP will continue booming for the foreseeable future. What the question is, how will the other industries like textiles in NC do in places like the Triad and Fayetteville. NC should begin seeing some positive momentum in those older industries because offshoring is slowing down dramatically and factories are beginning to get looked into being put in. Tax incentives are being offered on the state level for tier 3 counties (meaning the most economically hurting) for new job creations which would go basically exclusively to rural counties. Costs are rapidly rising for offshored jobs and it's becoming worth it \

For those manufacturing jobs, one potential massive driver could be Walmart. If you haven't heard, they've pledged to source $250 billion in products by 2023. The initiative is expected to create 1 million new U.S. jobs with 250,000 in direct manufacturing and 750,000 in support and services, according to the company itself. The south is still considerably cheaper than the rest of the country for manufacturing for a variety of reasons I won't go into, so it's feasible that NC could see a manufacturing boom over the next 6 years starting in 2017.

Solar is still going quite strong even without the tax incentive from the state. There is still a law on the books (from 2007) saying that they want NC to continue pushing towards renewables. Duke is investing in solar at a very strong rate still with more expansion coming in 2017. Excellent news in my opinion.

The further away we get from last summer, the more likely business will be returning to the state that shied away because of HB2. Let's be honest, most of the companies don't care at all about the law itself, they just wanted the good publicity of saying they won't come, or didn't want the bad publicity from being associated with it.

And of course the new republican controlled federal government paired with the strong republican control over the general assembly could have some major unforeseen effects on business expansions, with them taking advantage of (supposedly) lowered taxes. Trumps a wild card so it should be at least interesting to see how that unfolds.

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NC in the top 10 inbound moving states according to United Van Lines as is SC and look at the top 4 OUTbound. States with high corporate taxes, high property taxes, high cost of living http://www.bizjournals.com/triad/news/2017/01/04/united-van-lines-report-n-c-among-top-destination.html?ana=e_me_set1&s=newsletter&ed=2017-01-04&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1483539746&j=76958221   The Chamber needs to go to NY NJ and IL and CT once a month to recruit businesses. 

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I guess this would be considered good news, as it speaks to perception of Charlotte's emerging wealth.

2 new luxury auto dealer are opening up this year:

Bentley Charlotte is opening behind Scott Jaguar on Tyvola.

Lamborghini of Charlotte is opening is opening where the old Sofa Express showroom was on E Independence (about a block before the relocated/expanded Porsche dealership)

Bentley I find odd, as Felix Sabates couldn't make his dealership work on Independence next door to BMW Pre-Owned, and closed after 1 year (this was within the last 2 years).  This new location is a different ownership group (I think it's Donaldson Automotive Group).  Lamborghini I know less about.  The only current dealer in the Carolinas is in Greensboro.  I don't know if this is the same owner opening an outpost location, or a rival.

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Heard that Bofa is going to be quietly moving 700 commerical banking jobs from NYC to Charlotte over the next two years, and consolidating BofA wealth management (not Merrill) into a single building. Something to watch for. Not sure if this is separate or in addition to our rumored Merrill consolidation. 

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1 minute ago, ricky_davis_fan_21 said:

Heard that Bofa is going to be quietly moving 700 commerical banking jobs from NYC to Charlotte over the next two years, and consolidating BofA wealth management (not Merrill) into a single building. Something to watch for. Not sure if this is separate or in addition to our rumored Merrill consolidation. 

Perhaps this ties into your tidbit about BofA being involved with constructing a new office building that we haven't heard about yet?

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4 minutes ago, HopHead said:

Perhaps this ties into your tidbit about BofA being involved with constructing a new office building that we haven't heard about yet?

Honestly, I've heard 3 different things, from three reliable people. So the center of the venn diagram suggests that BofA is up to something, and there will be a tower involved, whether its Tryon Place, a new tower on the CMPD land, or them signing on to anchor Lincoln Harris. 

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Bank of America leases space in Princeton NJ for Merrill Lynch and did a sale leaseback and that lease is up in 2018 and if they did a 10 year lease on their 2009 Bank of America Tower in midtown Manhattan that would be coming up in 2019. Enough time for a new office to be built  in Charlotte. Office space is at least TWICE if not 3x as expensive  In New York City as even a new tower in Charlotte (which would mid 30s a sq ft)  If you want to continue cost cutting as BofA says, this is a great way to move jobs south to a cheaper location and replace some people who don't move with less expensive employees. I do agree something is afoot with Bank of America and I would guess Lincoln Harris tower since it is being rushed to start. 

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GenPak a packaging company is bringing their corporate headquarters from NY state and relocating their existing manufacturing facility into an owner occupied building. This was announced earlier in the spring but no location was chosen for the office or the plant but now both will be at the same place. http://www.bizjournals.com/charlotte/news/2017/01/06/genpak-to-move-headquarters-to-200-employee-center.html?ana=e_clt_bn&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1483741218&j=76996641

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2 Notes of Good news for the region: 

New movie "American Animals" to be filmed in Charlotte this winter and spring according to the Wilmington Star News http://www.starnewsonline.com/news/20170108/film-project-eyes-charlotte-in-2017

Cabarrus County new construction is the highest since 2006 or 10 years. Yet single family housing starts are still below peaks. http://www.independenttribune.com/news/building-almost-back-to-pre-recession-peak/article_47fb5b8c-d418-11e6-9eaa-07ba9dc5bc73.html

Edited by KJHburg
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Big intrastate football series between ECU and App State will begin in Charlotte App State last appeared in Charlotte in 1971!  This will bring lots of people into town from both ends of the state. http://www.journalnow.com/sports/asu/app_trail/appalachian-state-east-carolina-agree-to-football-series-that-includes/article_ce158aa0-d830-11e6-ba28-cb493121e3e8.html  As an ECU undergrad I look forward to this game probably a season kickoff type game. 

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Another great Tech startup based in Charlotte gets $14 million in funding. http://www.charlotteobserver.com/news/business/article125950349.html?utm_content=charlotte&utm_campaign=socialflow&utm_source=twitter&utm_medium=social#tw

http://perahealth.com/   The Charlotte tech scene is really growing in fin-tech and health care tech. This company is based in SouthPark area. 

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Something a bit under the radar. I was recently contacted by a recruiter about a position at Westinghouse in their IT department. Apparently they have an initiative this year to bring all their IT in house. This will be predominately at their LakePointe operations off Tyvola (didn't they just relocate from uptown?). I wasn't told hard numbers, but I'd guess somewhere near 100 people. Maybe more (or less). Good to see Charlotte's IT sector grow. 

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Concord is getting an I-Fly indoor skydiving center according to the Concord City Council minutes. Not on their future location list but coming soon according to CCC https://www.iflyworld.com/    Cabarrus county is getting to be the fun side of Charlotte K-1 Carting, Sea Life Aquarium, I-Fly, a huge flight school and of course the race track, drag strip, gold mining etc. 

Just found the story about it

http://www.independenttribune.com/community/concord-city-council-approves-grant-to-attract-indoor-skydiving-company/article_f640aaf8-d9b3-11e6-8779-e7729597608e.html

Edited by KJHburg
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Apple spending another $1 BILLION on their facility in Catawba County including 4 additional buildings including one new office building. Jobs are sure to follow with this kind of expansion even if it is more data center oriented. http://www.bizjournals.com/charlotte/news/2017/01/18/new-apple-investment-in-catawba-county-could.html?ana=RSS%26s%3Darticle_search&utm_source=dlvr.it&utm_medium=twitter  Their facility is right off US 321 just outside of Lincoln County in southern Catawba county and you can see their solar array easily from the highway. 

Just read this from the county commissioners agenda right now or under construction is a 1.3 million sq foot Apple campus and the the additional investment would involve even more square footage. 400 people work on site now for Apple or its contractors. http://www.catawbacountync.gov/commish/detailedagendas/2017January17.pdf

 

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Charlotte based tech firm merges with California based firm and will double it employee count in Charlotte in the near future. http://www.bizjournals.com/charlotte/news/2017/01/19/charlotte-data-center-services-company-merges-with.html?ana=RSS%26s%3Darticle_search&utm_source=dlvr.it&utm_medium=twitter   Company will be called SMS Curvature with HQs in both Charlotte and Santa Barbara 

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California companies continue to move or expand here to the Charlotte region. Orange County based BlueHaze Entertainment is buying a building in west Charlotte. They do lighting and entertainment.  Read more here about them http://www.bluehazeent.com/about-us.html  Building they are buying here http://www.charlotteobserver.com/news/business/biz-columns-blogs/development/article128175979.html   Probably an office warehouse to serve east coast customers in my guess.  Unspecified jobs at this point. 

Update 12-18 new jobs and this is the headquarters moving out of the OC in California. Thank you California!  http://www.bizjournals.com/charlotte/news/2017/01/23/lighting-design-company-buys-airport-area-building.html?ana=e_ae_set1&s=scroll&ed=2017-01-23&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1485202911&j=77163711

Edited by KJHburg
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2 hours ago, KJHburg said:
 
 

Can I just say that is a really unfortunate name for any company...

Edit: and yes, I get that they must be successful and therefore their name must really be great...but again...this isn't for all the Mr. Literals out there. It's a joke.

Edited by jednc
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