The Good News Report

[KJHburg]

11 hours ago, CLT2014 said:

Not a subscriber so can't read the article: Is BB&T vacating their more outdated suburban office space off Parkway Place and other suburban locations as part of the gradual relocation to LakePointe or is this all incremental growth?

Parkway Place office parks are going to be a ghost town. LPL moved out to Fort Mill, RoundPoint Mortgage is moving out to Fort Mill, and if BB&T moved out to LakePointe the block would be nearly empty. Is the owner of those office parks considering a more modern renovation? 

Doesn't specifically say where they are moving from but that is probably correct from Parkway Plaza office park since it is close by.  

[Desert Power]

On 5/25/2018 at 11:05 PM, atlrvr said:

Not to be too technical, but I think they are talking about treasury services sales, and local market credit risk officers.  While these are certainly good jobs, they would just be supporting the Charlotte bankers.

This is different from the corporate treasury and bank corporate risk mgmt jobs that would be classified as "middle office".  I don't think these are the type of jobs they were alluding too.

 

All that said, Charlotte is a great destination for finance jobs. 

This was how I read it as well.  @KJHburg is correct that US Bank has eventually hired more of those corporate functions here, but I haven't heard of any for Chase yet.

[KJHburg]

Fronter Captial one of Charlotte's private equity firms just doubled their office space in 525 N Tryon they have $1.5 Billion in capital  under management ranking #4 on the top private equity firms based in Charlotte. No word on new employees but it has to mean some for sure.  

525 N Tryon is now 85% leased and this was interesting.   Quote:   """Specific to 525 North Tryon, he said the building previously struggled from being about a block-and-a-half too far from the rest of the central business district. Introducing the shuttle as a transportation option for tenants has helped remove that moat, he continued, making the building overall more accessible and, subsequently, attractive to tenants."""

https://www.bizjournals.com/charlotte/news/2018/05/31/charlottes-frontier-capital-doubles-in-size-in.html

 

[KJHburg]

At UNC Charlotte's Economic Forecast today at Barings HQ in uptown a couple of things were brought up.  NC economic growth is accelerated to 2.8% this year projects John Connaughton.

and here is what Barings exec Michael Freno said and CEO of NYC based TIAA Roger Ferguson had to say (and TIAA has over 3000 employees here in the University Research Park and Ballantyne):

"" "We think it's a great place to attract talent. We're not at a disadvantage in any real industry, in my opinion. It's got a lot of the things that you'd want. There's still the convenience. Growth creates challenges, obviously, that we'll need to deal with, but I think Charlotte has done a very good job of building a very livable, high-quality living city," Freno says.  He notes the added asset for businesses of having an airport close by.

Ferguson says the Queen City offers strong recruiting potential for TIAA, especially for the millennial generation. TIAA has its largest employment center here. He refers to Charlotte's economic success as "very smart growth." "I find it very easy to tell people, 'Congratulations. You have a chance to move to Charlotte,'" Ferguson says.   ""

Full story here subscriber article https://www.bizjournals.com/charlotte/news/2018/06/06/economists-say-nc-economy-is-strong-and-project.html?ana=e_du_prem&s=article_du&ed=2018-06-06&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1528312911&j=81996931

[HighRiseHillbilly]

6 hours ago, KJHburg said:

"I find it very easy to tell people, 'Congratulations. You have a chance to move to Charlotte,'" Ferguson says.   ""

You're dang right. 

[QCxpat]

Recently, Charlotte was ranked 8th out of the 71 largest American metros for creating high-paying Business Services Jobs (BSJs). 

Sun Belt metros led the BSJ growth with 7 of the nation's top 10 metros:

(1) Austin.                   BSJs 2017: 183,000.     Job growth 2012-17:   37.1%

(2) Orlando.               BSJs 2017: 225,900.     Job growth 2012-17:   31.3%

(3) Kansas City.       BSJs 2017: 99,900.        Job growth 2012-17:   25.3%

(4) Nashville.             BSJs 2017: 163,500.     Job growth 2012-17:   34.0%

(5) San Francisco.   BSJs 2017: 282,200.     Job growth 2012-17:   28.3%

(6) San Antonio.     BSJs 2017: 136,800.      Job growth 2012-17:   21.3%

(7) Dallas.                  BSJs 2017: 487,600.       Job growth 2012-17:   25.4%

(8) Charlotte.           BSJs 2017: 201,700.      Job growth 2012-17:  26.6%

(9) Raleigh.                BSJs 2017: 117,400.      Job growth 2012-17:   18.8%

(10) Seattle.              BSJs 2017: 259,600.      Job growth 2012-17:   18.1%

Link:    

https://www.forbes.com/sites/joelkotkin/2018/05/29/the-cities-creating-the-most-white-collar-jobs-2018/#41e8e75d3920 -  Forbes.com, May 29, 2018.

[KJHburg]

another major sports championship coming to Charlotte the Professional Disc Golf Championship is coming to Reedy Creek Park in July and the Hilton University Place is the host hotel among other locations in the area.  

http://www.2018amworlds.com/   I would call this Frisbee golf but that's just me.  Lets hope this heat is moderated by then. 

[atlrvr]

AIG just posted a bunch on corporate audit roles today along with this as part of the job description:

Our world-class team is seeking individuals who would like to be a part of the foundation for building out an innovative audit team at AIG’s new Charlotte office!

 Glad to see they are expanding beyond the IT center that exists.

[DH17]

Given that it is publicly posted I now feel comfortable posting on this.

Rumor is that AIG will significantly expand several back-end business functions in Charlotte. The company currently leases a full floor of the BB&T center.  Expansion of the IT center has been very consistent but little-publicized. Not sure if new development will be focused Uptown or elsewhere.

Edited July 10, 2018 by DH17

[KJHburg]

^^^ That is great.  AIG has 40 openings for jobs here in Charlotte or they can be based elsewhere.  They were going to do a back office operation in Atlanta but I never heard anymore about it and I read the ATL Business Chronicle weekly.  

This is what I was talking about in another thread about how most of our job growth is through expansions and many go unnoticed.      By the way there is plenty of room in BB&T Center for their expansion.  

This was floating around Dallas and Atlanta a huge AIG office consolidation but nothing ever happen.   Hmm makes you think http://www.dallasnews.com/business/real-estate/2017/02/01/insurance-giant-aig-eyes-dallas-area-office-atlanta-favored-deal   from Feb. 2017 

Edited July 10, 2018 by KJHburg

[atlrvr]

Spectrum's new South End project?

NAI's 3rd St?

I hope this does turn into multiple groups. It seems odd that they would specifically build out audit in Charlotte, if they were planning on consolidating back-office corporate jobs elsewhere.

[Cadi40]

Most of our job growth comes from expansions, start ups and relocations. Charlotte’s economy and extraordinary job growth is truly something special. 

[Dale]

I meet new Charlotteans every day. Some are grandparents moving to be close to children and grands. Virtually all of these are from Buffalo (only slightly tongue-in-cheek). But the vast majority are "for job."

[sclark]

11 minutes ago, Dale said:

I meet new Charlotteans every day. Some are grandparents moving to be close to children and grands. Virtually all of these are from Buffalo (only slightly tongue-in-cheek). But the vast majority are "for job."

You are right about Buffalo. I'm surrounded by Buffalo transplants in Madison Park. 

[Dale]

13 minutes ago, sclark said:

You are right about Buffalo. I'm surrounded by Buffalo transplants in Madison Park. 

It's uncanny, almost like there is an Upstate NY > Charlotte pipeline.

[KJHburg]

Carowinds is ranked in the top 10 best amusement parks in the country coming in at #7.   http://time.com/money/5325493/best-amusement-parks-best-rides/

[SgtCampsalot]

25 minutes ago, KJHburg said:

Carowinds is ranked in the top 10 best amusement parks in the country coming in at #7.   http://time.com/money/5325493/best-amusement-parks-best-rides/

I just rode the Fury coaster, the newer TALL, TALL, TALL coaster, and oh my goodness it is amazing.

[kermit]

2 hours ago, Dale said:

It's uncanny, almost like there is an Upstate NY > Charlotte pipeline.

When meeting new people in Charlotte I find it is most efficient to simply ask them: "Which of the Tonawandas are you from?"

[Dale]

20 minutes ago, kermit said:

When meeting new people in Charlotte I find it is most efficient to simply ask them: "Which of the Tonawandas are you from?"

[KJHburg]

Charlotte is getting smarter and is attracting more people with college degrees according to this report from CityLab.   https://www.citylab.com/life/2018/06/the-geography-of-talent-shows-a-gaining-rust-belt-and-sunbelt/563615/

[Hunted]

On 7/10/2018 at 11:53 AM, kermit said:

When meeting new people in Charlotte I find it is most efficient to simply ask them: "Which of the Tonawandas are you from?"

It's the same case here in Raleigh. Heck, even my girlfriend moved here from Upstate NY. I dated a girl in Charlotte from NY, and another girl in Raleigh from NY. Don't judge me.

Point being: there is no shortage of young adults from NY living in urban NC. I actually saw the most obnoxiously large Buffalo Bills back window decal today. Funny we mentioned Buffalo specifically.

[Cadi40]

No need to explain, We get it, You like the dialect of New Yorkers.

[Hunted]

Purely coincidental. I'd argue that they are so abundant now that it's almost impossible to not date one.

[Cadi40]

That and Floridians, They’re taking over!

[jordan704]

On 7/10/2018 at 10:36 AM, SgtCampsalot said:

I just rode the Fury coaster, the newer TALL, TALL, TALL coaster, and oh my goodness it is amazing.

They're about to get a new one from MACK... Not tall but first of its kind in the US.