The Good News Report

[KJHburg]

Charlotte is now the avocado and contact lens capital of the south.   Today in Business Journal subscriber article is this:

""Premium Vision, an affiliate of contact lens retailer 1-800 Contacts, will open a Southeastern distribution center at Metrolina Park, according to Chad Costello, vice president of sales and account management at Premium Vision.  Premium Vision has signed a 10-year deal for 114,470 square feet at Metrolina Park""         114,000 sq ft of contact lens is a LOT of contact lenses!   

 Expected 60 jobs.  And remember Bic Corporation has 400-500K sq ft in the Charlotte area for lighters and pens.  CLT has many unique distributors for sure.  

https://www.bizjournals.com/charlotte/news/2017/12/01/company-sets-sights-on-metrolina-park-for-east.html?ana=e_du_prem&s=article_du&ed=2017-12-01&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1512168046&j=79270471

[Cadi40]

See, We’re not just a banking city

[KJHburg]

At the Barings UNCC forecast it was stated by economist that in the last 8 years 89% of the new jobs in the state were located in the Charlotte metro or Raleigh metro.  2018 projections for jobs in NC were 95,000 net new jobs vs around 60,000 this year.  He stated we were at virtual full employment.  Overall very rosy for the US and NC economy only thing that could derail would be an external shock. 

In other news, Wages growing at 4% in Charlotte area 

https://www.bizjournals.com/charlotte/news/2017/12/05/heres-how-fast-wages-grew-in-charlotte-area.html?ana=e_ae_set2&s=article_du&ed=2017-12-05&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1512505542&j=79291411

In regional good news Apple grows again in Catawba County 

http://www.hickoryrecord.com/news/local/apple-plans-another-expansion/article_ecd4af75-1798-57c6-8dac-c8773515c75d.html

 

 

[KJHburg]

Uptown Charlotte has absorbed more office space uptown/CBD than any other city in the US except for Seattle, NYC and Chicago.  That is very impressive as I have said we want all the new office towers to fill up so more are built.   https://www.charlottecentercity.org/charlotte-ranks-4th-nation-office-absorption-2017/

[Nick2]

We keep talking about "when" this building cycle ends. It's still not showing slowdown in an areas so maybe we should start talking about "if it ends" instead.

[atlrvr]

Rockwell Collins and UTC Aerospace will announce the location of their combined HQ before the end of March 2018.

It seems highly likely it will be Charlotte.

Further, industry analysts I believe are predicting the new UTC subsidiary to be spun out into it's own company.

That should result in Charlotte gaining a Fortune 100 company.

We gained a Fortune 500 firm a few months ago when MetLife spun off Brighthouse.....I'm not sure how it becomes official, but I assume next year's list will include Bright House.

[KJHburg]

1 hour ago, Nick2 said:

We keep talking about "when" this building cycle ends. It's still not showing slowdown in an areas so maybe we should start talking about "if it ends" instead.

One thing I know from commercial and residential real estate, slowdowns are inevitable however the last recession 2009/2009 was a real estate depression.  So whenever a slowdown comes hopefully it will be just that a slowdown not a complete halt of business. New home sales fell 80-90% in this region and commercial construction came to halt almost completely.    Charlotte is much more diversified now with various different financial employers (not just the 2 big banks) , corporate headquarters, distribution/warehousing and even manufacturing in the greater region.  That will be important.  At UNCC economic forecast this week, it was projected 2018 will be another growth year for NC and the country as a whole unless a huge external shock happened. 

[Old Carolinian]

It's interesting to note that Charlotte and Raleigh are the 'economies' of North Carolina per the UNCC economic forecast report:

"...the Metropolitan Statistical Areas of Charlotte and Raleigh represent around 85 percent of the state’s GDP  an d over 50 percent of the state’s employment growth during the economic recovery from the Great Recession..."

Also, about half the state's counties are losing population (and jobs):  "...the data revealed that 48 counties –almost half of North Carolina’s 100 counties —  lost population between 2010-2016..."  News & Observer May 25 2017 on Census Bureau population estimates for 2016.

 

 

[Nick2]

6 hours ago, Old Carolinian said:

It's interesting to note that Charlotte and Raleigh are the 'economies' of North Carolina per the UNCC economic forecast report:

"...the Metropolitan Statistical Areas of Charlotte and Raleigh represent around 85 percent of the state’s GDP  an d over 50 percent of the state’s employment growth during the economic recovery from the Great Recession..."

Also, about half the state's counties are losing population (and jobs):  "...the data revealed that 48 counties –almost half of North Carolina’s 100 counties —  lost population between 2010-2016..."  News & Observer May 25 2017 on Census Bureau population estimates for 2016.

 

 

What's the source for those quotes? I think less than 40 counties saw a decrease in population in that time frame. That's still not good  but I'm pretty sure 48 isn't right.  Do you have a source for that GDP thing too? Just curious because it seems off.

https://files.nc.gov/ncosbm/demog/countygrowth_cert_2016.html

Edited December 9, 2017 by Nick2

[asthasr]

http://www.newsobserver.com/news/databases/article85498227.html

[kermit]

13 hours ago, Nick2 said:

What's the source for those quotes? I think less than 40 counties saw a decrease in population in that time frame. That's still not good  but I'm pretty sure 48 isn't right.  Do you have a source for that GDP thing too? Just curious because it seems off.

https://files.nc.gov/ncosbm/demog/countygrowth_cert_2016.html

The numbers were surprising to me too  so I pulled population data from the BEA (an arm of the US Department of Commerce https://www.bea.gov/regional/index.htm ) and sure enough, 48 counties did see a population loss between 2010 and 2016 per these data. Its actually almost 49 counties, McDowell only gained 6 people during this period.

Perhaps I misinterpreted the statement "Charlotte and Raleigh represent 85% of the state's GDP" but, as quoted, it aint right.  The data from the BEA (use the same link as above) shows Charlotte and Raleigh only accounting for 46% of the Gross State Product (up from 40% in 2001).

Perhaps the statement was in reference to the portion of NC GSP growth that Charlotte and Raleigh represent -- but, by my calculations that figure was 70% in 2016 and longer-term averaging would not bump it up to 85%.

 

Edited December 9, 2017 by kermit

[KJHburg]

^^^ That is why it is important for small towns in this state to get manufacturing I have been to 94 of the 100 counties and believe me many are losing people and struggling. Others nearer to metros are treading water.  We here in Charlotte live in a bubble and think everywhere is doing this good but it is not.  Thats why when 50 jobs comes to a small town it is really a big deal.  Plus we need to improve access to the metro areas so more people can get to their jobs.   Support these small towns when you can by visiting, eating there and staying there. 

[15895]

Is it necessarily a bad thing they are losing Population? Maybe people are just moving around within the state. 

 

 

[KJHburg]

6 minutes ago, AirNostrumMAD said:

Is it necessarily a bad thing they are losing Population? Maybe people are just moving around within the state. 

 

 

It is just sad to see small towns die but many of the young people are moving obviously to cities in the state and older people are staying around. Northeastern NC is the worst part of the state for this no real cities nearby to commute to or jobs.  Western NC has tourism to help but that part of the state doesn't really. Gates, Bertie and Northampton counties are examples I saw earlier this year. 

[videtur quam contuor]

According to this report from the NC Dept. of Commerce:

http://www.nccommerce.com/news/press-releases?udt_4733_param_detail=194766

(click for the pdf.)

Unemployment is not a major issue in most NC counties. September revised shows 17 counties over 5%. The total number unemployed in those 17 counties is a quite small number because they are nearly all small and declining population areas. They do not need jobs there, they need people. Jobs follow people, not t'other way.

[Richhamleigh, DC]

Population and economic development in rural countues will continue to suffer as without basic services like broadband internet and cellular service.  The absence of these drives out young people and hand cuffs small and home based businesses.  NC's rural countues are ideally suited to be agricultural centers but marketing and logistics without 21st century communication hampers the development of this industry sector.

[Nick2]

@kermit I guess I was just looking at a different source. That link I posted only shows about 34 counties losing population.

[Cadi40]

The larger cities gaining population help even if out, NC will gain about 2 Million by I believe 2030, 1 Million of those new residents will be 65+. The largest growth areas will obviously be Charlotte, The triangle and the triad and also Asheville and Wilmington. 

[KJHburg]

This is from the Charlotte Chamber's Economic Forecast Conference

""Unlike other cities that are in what he called a “death spiral,” Charlotte is attractive to members of the workforce in other cities.""

""Doug Lebda, founder of LendingTree, says that’s an important advantage that Charlotte enjoys. “It’s a place where you can recruit people to,” he says. LendingTree has recently been able to convince a pool of 100 Silicon Valley residents to move to Charlotte.""

Here is the complete story from Business Journal

https://www.bizjournals.com/charlotte/news/2017/12/11/charlotte-economy-must-solve-opportunity-problems.html

Edited December 12, 2017 by KJHburg

[Cadi40]

Wahlburgers set to open in South Charlotte.

https://www.google.com/amp/amp.charlotteobserver.com/news/business/biz-columns-blogs/whats-in-store/article189207494.html

[NcSc74]

On 12/9/2017 at 8:27 AM, KJHburg said:

^^^ That is why it is important for small towns in this state to get manufacturing I have been to 94 of the 100 counties and believe me many are losing people and struggling. Others nearer to metros are treading water.  We here in Charlotte live in a bubble and think everywhere is doing this good but it is not.  Thats why when 50 jobs comes to a small town it is really a big deal.  Plus we need to improve access to the metro areas so more people can get to their jobs.   Support these small towns when you can by visiting, eating there and staying there. 

I agree and thats is why it blows my mind that interstate access to Charlotte (metro)  is limited to the north, south and west; seems to me that would have been solved long ago.  I know for me, growing up in Cumberland county, one of the major reasons we did not visit Charlotte often is that there was no "as the crow flies" road link from east to west.  Decades of wasted economic opportunities  IMO.

 

[nakers2]

6 hours ago, NcSc74 said:

I agree and thats is why it blows my mind that interstate access to Charlotte (metro)  is limited to the north, south and west; seems to me that would have been solved long ago.  I know for me, growing up in Cumberland county, one of the major reasons we did not visit Charlotte often is that there was no "as the crow flies" road link from east to west.  Decades of wasted economic opportunities  IMO.

 

As much as I want to see a variety of transportation options, I do agree that a major road, either a state/US highway, or a full blown interstate would be a huge economic boon to not only areas east of Charlotte, but the east side of Charlotte itself.  I'm not a fan of increasing sprawl, but a good interstate corridor would not be a bad thing, not to mention that when this state does decide to actually invest in better transit options, it would make a good catalyst for what I could image would be a heavily traveled Charlotte to Wilmington line, with stops in between.  

[Cadi40]

I live in Union county and the only version of a main road to Charlotte is 74 Which if you live anywhere near Charlotte you know to avoid it at all costs. If they could build a spur off of 77 Into Union county that would be good. Charlotte compared to other cities has a very small amount of Interstates. 

[jjwilli]

500 jobs coming to northern York County with a new Stanley Black & Decker hand tool plant.

 

https://www.bizjournals.com/charlotte/news/2017/12/14/stanley-black-decker-to-bring-500-jobs-to-york.html?ana=e_clt_bn&u=RUJHm70T3vw4ky6PZ2GWRw03061cee&t=1513272930&j=79340301

 

[kermit]

Not many details in the Observer article but this is a nice pull:

Quote

A Chicago-based investment banking and asset management firm is opening a Charlotte office, starting with a group that handles deals in the aerospace, defense and government services sector.

William Blair said Thursday that it hired a team led by managing director Gordie Vap that also includes vice presidents Andrew Kugajevsky and Josh Ollek. The three had previously worked at BlackArch Partners, an investment bank founded in Charlotte in 2010 and purchased by Alabama-based Regions Financial in 2015.

Read more here: http://www.charlotteobserver.com/news/business/article189754434.html#storylink=cpy

http://www.charlotteobserver.com/news/business/article189754434.html