The Good News Report

[atlrvr]

http://m.digitaljournal.com/pr/3594027

CAPCO a capital markets consulting firm opened here.  Looks like they are temporarily in WeWork space, but I think leasing their own space in the building.  Starting with 18 people, but growing to 50 by the end of 2018.

They are one of the more established players in that industry.

 

[Scribe]

United Way HQ is sold (something to start happening in 3 years based on the 3yr window negotiated for United Way to find new space). 

http://www.charlotteobserver.com/news/local/article190586339.html

 

Quote

SLT is affiliated with Linden Thomas and Company, a wealth management firm based uptown that was founded by Stephen L. Thomas.

 

 

[KJHburg]

This is major good news for NC as a whole and Charlotte indirectly. Chinese tire company Triangle Tyre opening their first plant outside of China outside of  Rocky Mount to employ 800 people at wages 50% higher than the county average.  This affects Charlotte is the sense the better off all of NC is,  the more tax revenues for all and poorer areas like this one will not be a drain on the state govt.   (Plus I still think Toyota will chose the Greensboro megasite)

https://edpnc.com/triangle-tyre-selects-kingsboro-megasite-largest-ever-manufacturing-investment-rural-north-carolina   This is huge for eastern NC! 

More NC good news all since Thanksgiving! The more prosperous NC is the better off Charlotte and this region will be. 

https://edpnc.com/conduent-establish-research-triangle-tech-hub-will-create-200-new-jobs/   200 jobs in Morrisville in Wake County avg salary $100K

Manufacturing jobs all over the state announced all since late November:

https://edpnc.com/auto-components-maker-linamar-launches-6-8m-31-job-expansion-wilson-n-c/   Wilson

https://edpnc.com/sealed-air-launches-10-4m-25-job-expansion-lenoir-plant/  Lenoir  NW of Charlotte

https://edpnc.com/corning-bring-428-new-jobs-edgecombe-durham-counties-north-carolina/  Corning 428 jobs in Durham and Edgecomb counties

https://edpnc.com/digital-cable-manufacturer-launches-16m-15-job-expansion-hayesville-n-c/  Just 15 jobs in a county of 10,000 people in SW Mtns

https://edpnc.com/german-vinyl-company-bringing-102-jobs-burke-county/ 102 jobs in Burke County NW of Charlotte

https://edpnc.com/mako-medical-laboratories-building-153-job-testing-facility-henderson-nc/  153 jobs in Vance Co N of Raleigh one of the state poorest. 

[Nick2]

The toyota plan is most likely going to greensboro. it will be on the US 421 freeway (which isn't nearly at capacity) in randolph county right on the county line with guilford. the only other choice now is alabama. I forget where.

But with the great infrastructure in place and a large population to pull from within driving distance, greensboro makes a ton of sense. It would be a great boost to central NC's economy. 

P.S Every other state in the southeast already has an auto plant.

[KJHburg]

Passport Inc. another Charlotte tech company success story raises $43 million in funding and will add 50 jobs uptown next year.  http://www.charlotteobserver.com/news/business/article190742244.html#emlnl=Business_Newsletter

[CLT>___]

14 hours ago, KJHburg said:

Passport Inc. another Charlotte tech company success story raises $43 million in funding and will add 50 jobs uptown next year.  http://www.charlotteobserver.com/news/business/article190742244.html#emlnl=Business_Newsletter

I think their office is in 128 S Tryon. I heard they have a pretty cool 2 floor space for their office. 

[KJHburg]

^^ Yes top 2 floors of the First Citizens Bank tower.  Great to see them adding 50 jobs next year.  

[Scribe]

3 hours ago, KJHburg said:

Yes top 2 floors of the First Citizens Bank tower.

I was passing by this morning -- are they doing a ground floor remodel in First Citizens?

[Guest]

29 minutes ago, Scribe said:

I was passing by this morning -- are they doing a ground floor remodel in First Citizens?

They are repurposing some existing internal space to be outward facing retail.

[KJHburg]

639 new manufacturing jobs announced for Charlotte 300 in Mooresville,  150 jobs in Gaston County and 187 in Burke County (Morganton)   This one of my 2018 predictions and it is coming true very quickly.  https://www.bizjournals.com/charlotte/news/2017/12/21/three-manufacturers-announce-639-jobs-for-new.html?ana=e_clt_bn&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1513885949&j=79378551   GREAT news for this region 

That is a German, Belgian and Chinese company respectively. 

Edited December 21, 2017 by KJHburg

[asthasr]

Gastonia and Morganton could really use those jobs. Great news!

[Matthew.Brendan]

11 hours ago, JSquare said:

I think their office is in 128 S Tryon. I heard they have a pretty cool 2 floor space for their office. 

Yes they do! The views ain’t bad either. 

[KJHburg]

With 15,000 employees in Charlotte this could be really good for Charlotte.  http://www.charlotteobserver.com/news/business/article191247174.html

[Scribe]

16 minutes ago, KJHburg said:

With 15,000 employees in Charlotte this could be really good for Charlotte. 

That is awesome! And paid out this year, not the typical financial world bonus time -- end of Q1

[Scribe]

The following is great news, but it's even better considering that it involves Campbell Soup...

https://www.bizjournals.com/charlotte/news/2017/12/22/campbell-soup-dhl-picks-n-c-over-s-c-for-new.html

[Cadi40]

That’s great, Cumberland County can really use it.

[KJHburg]

Just maybe Campbell Soup in trying to reinvent itself will establish a corporate headquarters in Charlotte using the Synders Lance as base.  They leased that entire 104,000 sq ft Ballantyne building.  More operations in NC certainly helps and remember this is a huge soup plant in Maxton NC 

[emansius]

https://www.wsj.com/articles/how-tax-law-will-help-some-housing-markets-1514116801

Interesting potential upside of the tax cut and reform bill. Not that the migration from high-cost to low-cost states is anything new, but the author posits that the overhaul has the potential to accelerate the trend insofar as the housing market is concerned.

Quote

The tax overhaul is expected to create winners and losers among housing markets across the U.S., dealing a blow to high-cost coastal regions but potentially fueling demand in places in the middle of the country.

The law caps the amount of property and state income taxes filers can deduct, a provision that hits places like New Jersey, New York, Connecticut and California especially hard. It also limits the size of a loan on which homeowners can deduct mortgage interest to $750,000, down from $1 million, which could put a dent in pricey markets.

On the other hand, realtors and economic-development officials in less-expensive states believe they can benefit if the tax-law changes encourage people to reconsider their home address.

“At some point this draws attention to the cost gap in high-cost areas and growing areas with growing resources like Raleigh, Austin and Charlotte,” said Scott Hoyt, a realtor in North Carolina. “That’s going to be a boon.”

 

Edited December 24, 2017 by emansius

[Nick2]

That's certainly an interesting thought and I could see it benefiting NC some. But I'd bet that most people who it would affect at those numbers are likely not going to move states for the benefit and just pay the extra to be where they are. 

[KJHburg]

Charlotte has the nation 2nd most racially diverse STEM workforce (technology)  in the country.   https://smartasset.com/mortgage/the-best-cities-for-diversity-in-stem-2017-edition

[KJHburg]

This is a good news bad news work still to be done story on how NC economy has changed in the last 40 years from the big 3 industries to the big 5 and work to be done on spreading the wealth around the state.   http://www.morganton.com/opinion/is-nc-s-economic-shift-complete/article_be5d60e6-e77b-11e7-9f50-479b65f2baca.html

[QCxpat]

On the 1st day of 2018, let's  proudly say of Charlotte what Lewis Mumford once said regarding the mission of a city:

The "... supreme office of the city in history" is to augment, to the highest degree possible "... the illumination of consciousness, the stamp of purpose, the color of love" and  "... magnification of all the dimensions of life." 

     

How lucky we are to call the Queen City home!  

Quotation:

Mumford, Lewis, The City in History, Its Origins, Its Transformations, and Its Prospects, Chapter 18: Retrospect and Prospect, Harcourt, Inc. @1961. 

Photo Credit:  (Right click open link in new tab )

https://www.google.com/search?q=images+of+charlotte&oq=images+of+charlotte&aqs=chrome..69i57j0l5.3383j0j7&sourceid=chrome&ie=UTF-8  (Images of Charlotte)

https://www.google.com/search?q=happy+new+year's+images&oq=Happy+new+year's&aqs=chrome.1.69i57j0l5.10239j0j7&sourceid=chrome&ie=UTF-8  (Happy New Year's Images)

[KJHburg]

With 11,500 employees based in Charlotte this is indeed good news for the region.  American offering $1000 bonuses to all employees in 1st quarter.  This is in addition to Bank of America up to 150K in salary,  US Bank, 5/3 Bank,  BB&T etc all who have major operations in this area.  

http://news.aa.com/press-releases/press-release-details/2018/American-Airlines-to-distribute-1000-to-each-team-member/default.aspx

Edited January 3, 2018 by KJHburg

[Scribe]

The good news is, there are a TON of road improvement projects that are supposed to complete in 2018 (all are still on schedule -- I think) - http://www.charlotteobserver.com/news/local/article192720134.html

Also, there is one that is starting (started construction yesterday)... North Tryon Business Corridor Project -- I am excited about this project, but it will take at least 2.5 years... more detail on the project is here: http://charlottenc.gov/Projects/Pages/NorthTryonBusinessCorridor.aspx

 

[KJHburg]

New upstart MealPal to open global operations center here in Charlotte with 20 employees hopefully to grow to 100.  Interesting. https://www.bizjournals.com/charlotte/news/2018/01/05/mealpalceo-s-35m-answer-to-what-s-for-lunch-and.html?ana=e_ae_set1&s=article_du&ed=2018-01-05&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1515184482&j=79454191