The Good News Report

[Nick2]

13 hours ago, hinsp0 said:

Not that it would’ve ultimately mattered, but that video (and a gold nugget) should’ve been our amazon presentation.

For real. That's a million times better.

[egorham]

City of Charlotte Economic Development just announced a 430 job expansion for LendingTree HQ.  

[sclark]

Charlotte mentioned as one of the cities with a significant drop in its murder rate from 2017. Down 41% from last year. (Source data: https://docs.google.com/spreadsheets/d/1Z9b5mIwztAwmEHJW7Q5DHMjS14-Rs7XIXOt33Al_rDw/edit#gid=0)

https://www.nytimes.com/2018/12/06/upshot/us-murder-rate-for-2018-is-on-track-for-a-big-drop.html

Edited December 6, 2018 by sclark

[KJHburg]

Here is the Business Journal article on Lendingtree's expansion.  As noted in another article they looked at 20 sites in both NC and SC but Charlotte won out.  

And if the rumors of them taking the 300 South Brevard building in entirety this is great news for uptown Charlotte as well.  It takes the largest block of space off the market.

https://www.bizjournals.com/charlotte/news/2018/12/06/lendingtree-to-move-hq-in-meck-county-create-436.html

So 436 new jobs on top the 750 announced last week by Honeywell.  

[KJHburg]

From the JLL 3Q Industrial report basically the warehouse flex market is en fuego! 

Look at this stat: 

Year to Date net absorption 4,838,189 s.f. ▲ Under construction 4,076,284 s.f. ▲ Total vacancy 5.1% ▲ Average asking rent $4.21 p.s.f. ▲

In the third quarter alone 1.7 million sq ft was absorbed.  This aspect of commercial real estate is not as sexy as office towers but as I have said repeatedly employs a lot of people.  If these huge big box warehouse buildings were built straight up  we would have 500K to 1 M towers in every direction LOL! 

https://www.us.jll.com/en/trends-and-insights/research/charlotte-industrial-insight-q3-2018

[sclark]

Small, but still good news. McClatchy, publisher of Charlotte Observer, Sacramento Bee, Kansas City Star, etc. is centralizing design and copy editing jobs here in Charlotte. Moving 30 jobs here. 

https://www.bizjournals.com/charlotte/news/2018/12/11/mcclatchy-to-centralize-design-jobs-in-charlotte.html

[xx_.ajj]

We have one of the tenants for LU2 announced. 

https://www.bizjournals.com/charlotte/news/2018/12/11/deloitte-to-anchor-next-office-phase-of-legacy.html

[KJHburg]

250 new jobs coming to the vacant Michael Waltrip Racing facility in Cornelius as reported by the Business NC magazine but little elsewhere.  Sounds like a big deal to me.

""Jobs SPRiZZi Bev-Co plans to create at a new production and distribution center in Cornelius, according to Lake Norman Economic Development. The Colton, Calif.-based company will make its flavored drink pods — which it says are 100% recyclable — and distribute its single-serve drink machines at the former Michael Waltrip Racing building in northern Mecklenburg County.  The company aims to produce more than 500 million “flavor bullets” a year at the 118,000-square-foot site. SPRiZZi is led by CEO Tim Goff, a former senior vice president at Coca-Cola. ""

Sounds like their first location outside of California.  https://sprizzi.com/

Here is press release from Lake Norman EDC  

http://www.lnedc.com/news/2018/12/11/general/sprizzi-bev-co.-inc.-moves-business-into-former-michael-waltrip-racing-building-in-cornelius/

shouldn't the Charlotte Regional Business Alliance be all over this?   

 

Edited December 12, 2018 by KJHburg

[KJHburg]

Went to the Barings UNCC economic forecast led by Dr John Connaughton noted NC economist.  Basically this expansion  that started tepidly in 2009 and now the 2nd longest expansion in US history and likely will be the longest as no recession is predicted in the next 12 months.

Since great Recession NC has outperformed the nation in only 2 years 2015 and 2017 (though this year would be the 3rd)   NC was much harder hit by the recession because our economy is much more dependent on manufacturing and construction than other states.  In October 2018 was the first time in years NC unemployment was below the nations and this trend is expected to continue in 2019.  

NC in 2018    NC added 109,000 net new jobs. 

Economy to grow at 3% when the final figures are in. Highest since 2009. FIRE Finance Insurance Real Estate is 18% of the states economy vs. 18% for manufacturing. 

NC in 2019 projected  that NC will add 120,000 net new jobs

Economy to grow slightly slower as will the nation at 2.8%    Basically NC and the country are at full employment.  The current longest expansion 1991 to 2001 the economy did grow faster but the labor force participation was higher and productivity higher.  (Interesting point he made and I fully agree with: in the 90s the technological advances made people much more productive however in this boom much of the technology has been social media driven which is not as good if any in making people more productive.) (also another important the drop in average gas prices of 50 cents  (which happened this fall) equals $93.5 BILLION in extra spending money for Americans)

With aging baby boomers retiring  and labor force growth flat and lower productivity growth, GDP of the state and nation will probably be lower in the future since those 2 items are the biggest components for growth.  

Possible clouds on the horizon is of course trade war mainly with China or will it be more saber rattling.  US corporate taxes were the highest in the western world before the tax cuts now they are in the middle of the pack but lower than some of main Euro competitors and Canada. 

Overall very positive and does not see a recession in the upcoming year just slower growth.   This is a great event produced by Barings and UNCC if you are alumni you should go for sure and I think other people can reserve a seat (and it is free and free lunch)  Thank you Barings! 

[CLT2014]

Charlotte based Sonic Automotive is going to add 500 jobs to Gaston County for a customer support center. The jobs will pay on average $53,219,  above the Gaston County average wage of $38,780. The office will also contain a marketing hub for Sonic Automotive dealerships. 

For Gaston County, this means more jobs outside of retail and manufacturing so people don't have to commute all the way to Charlotte. 

https://www.gastongazette.com/news/20181213/sonic-automotive-bringing-500-jobs-to-gaston-county

Edited December 14, 2018 by CLT2014

[Niner National]

Average of $53,000 for call center jobs???

[videtur quam contuor]

Salary plus employer cost of all benefits, not including the costs of hiring and training, could be 53k for a 35k-40k salary job. It depends how the job is reported, salary only or including benefits.

[KJHburg]

6 minutes ago, Niner National said:

Average of $53,000 for call center jobs???

I think some of them are online sales jobs like the Red Ventures jobs. 

[CLT2014]

44 minutes ago, KJHburg said:

I think some of them are online sales jobs like the Red Ventures jobs. 

Yeah, I think they are centralizing all the online sales people in Gaston County rather than having them at each dealership. So those "chat" people that pop up when you are on Town and Country Toyota's website will be in Gaston County and help close the sale / do warm hands off to the dealership. 

[Dale]

51 minutes ago, KJHburg said:

I think some of them are online sales jobs like the Red Ventures jobs. 

Just recently, a young women inquired on FB about a job at Red Ventures. There were 26 responses. Every one of them, EVERY ONE was essentially: “Are you out of your mind ?”

[Niner National]

21 minutes ago, Dale said:

Just recently, a young women inquired on FB about a job at Red Ventures. There were 26 responses. Every one of them, EVERY ONE was essentially: “Are you out of your mind ?”

really just depends on the job. Being on the sales team sucks IMO, but the corporate positions can be good.

[Dale]

1 hour ago, Niner National said:

really just depends on the job. Being on the sales team sucks IMO, but the corporate positions can be good.

I know, I worked a year in sales there.

[KJHburg]

the top 10 heartwarming stories from firefighters around the country and look at #2 on the list   Charlotte suburb Harrisburg.

https://www.firerescue1.com/2018-year-review/articles/393065018-Top-10-heartwarming-firefighter-stories-of-2018/?fbclid=IwAR1roaRrUeZRTwwMjMM7EoQZtXAjh1wMwiCZK3fjbTxiJbzHtv_AciAVGQA

[DeleteMe]

https://www.nytimes.com/2018/12/16/business/economy/nashville-birmingham-amazon.html?action=click&module=News&pgtype=Homepage

The media's love affair with Nashville and Austin continues...but Charlotte (no NC) gets a nod at the end of the article.  Also, why the NCGA's gift to surrounding states of our once-robust TV and film industry is paying off...for them, not us.  

Edited December 17, 2018 by MACyr

[NcSc74]

Meh, Charlotte was getting those articles not too long ago.  Heck it still is.  Not gonna hate on others success; just learn from the formula and keep pressing forward.  I think the QC is a rung above as far as economic power but should not get complacent.  Its time to stop asling why not us but who can the city catch next.  

[CarolinaDaydreamin]

20 minutes ago, NcSc74 said:

Meh, Charlotte was getting those articles not too long ago.  Heck it still is.  Not gonna hate on others success; just learn from the formula and keep pressing forward.  I think the QC is a rung above as far as economic power but should not get complacent.  Its time to stop asling why not us but who can the city catch next.  

Yes exactly. Allied Bernstein is still getting hype like this article, but Honeywell will be 7x the number of jobs and suppliers. The fact that Charlotte is quoted in the end of the article by Birmingham's mayor shows that its a "name brand" and metropolitan economic benchmark and stalwart now. Nashville is reaching the national spotlight now. We reached the spotlight already. Nashville has been and will be a more media friendly brand, with its entertainment cache, and we will be a more financial brand. Different types of markets. 

[elrodvt]

46 minutes ago, NcSc74 said:

Meh, Charlotte was getting those articles not too long ago.  Heck it still is.  Not gonna hate on others success; just learn from the formula and keep pressing forward.  I think the QC is a rung above as far as economic power but should not get complacent.  Its time to stop asling why not us but who can the city catch next.  

Yeah but each major loss should lead to some introspection. I wonder sometimes if the largest city in the state shouldn't be more forceful pointing out how the nuts in Raleigh are not us and things will be a changin'. 

[CarolinaDaydreamin]

10 hours ago, elrodvt said:

Yeah but each major loss should lead to some introspection. I wonder sometimes if the largest city in the state shouldn't be more forceful pointing out how the nuts in Raleigh are not us and things will be a changin'. 

The idea that Charlotte is somehow unique in this battle is laughable. To an extent it seems to be a self fulfilling doom. Its not like TN, GA, PA, FL, OH, TX outside their major cities are not extremely similar politically to NC outside of Charlotte and Raleigh. We had huge negative publicity on the bathroom bill, while Texas was passing their own with no national media spotlight. Perhaps its a false impression, but I think our local media began the blowup over the bill, while media in Texas cities were much more muted, and it caused much less long term damage.

Edited December 17, 2018 by CarolinaDaydreamin

[Dale]

3 hours ago, CarolinaDaydreamin said:

The idea that Charlotte is somehow unique in this battle is laughable. To an extent it seems to be a self fulfilling doom. Its not like TN, GA, PA, FL, OH, TX outside their major cities are not extremely similar politically to NC outside of Charlotte and Raleigh. We had huge negative publicity on the bathroom bill, while Texas was passing their own with no national media spotlight. Perhaps its a false impression, but I think our local media began the blowup over the bill, while media in Texas cities were much more muted, and it caused much less long term damage.

In the end, no long-term damage versus close to nil long-term damage, meaning that after the fake repeal of HB2, just about every foot-stomping boycotter came back with the requisite amount of grumbling.

[Richhamleigh, DC]

Looks like the BizJournal picked up on that NYT article. https://www.bizjournals.com/charlotte/news/2018/12/17/cbj-morning-buzz-major-charlotte-competitor-in-the.html