The Good News Report

[KJHburg]

This is overall fantastic news for Charlotte.  As one of the largest cities in the country without a medical school this has been a dream since UNC decided to let ECU after a protracted fight get a med school at ECU.    Establishing a branch with Wake Forest gives us instant access to a top notch medical school that has been in existence since 1902.   I read they have 10,000 applicants and only accept 145 so if the Charlotte branch mirrors that the demand is there.  

Brings anther tie between Winston and Charlotte.  First of all in banking with First Union buying merging with Wachovia, now with BB&T Sun Trust merging and establishing their HQ here.  Then of course Winston based and founded Krispy Kreme moving their top execs here.  Wake Forest has long a branch of their MBA program uptown as well.  

This is a win win and does not need years of wrangling with the state of NC for financing for such a venture even if they would consider it.    

[tiblerbrit]

This could eventually lead to the development of a large scale biomedical sciences research program in Charlotte. Right now there is some clinical research at Atrium, but almost no basic NIH funded research.  Charlotte is really one of the only major US cities to not have at least one major NIH funded life sciences center. This will bring more PhD's to the area and also the biotech spinoffs that come from research in their labs. Obviously this will all take time, but good news nonetheless. 

Edited April 10, 2019 by tiblerbrit

[tiblerbrit]

Here's the current NIH  funding in NC (number of grants and total funding $). For those who aren't familiar the NIH (National Institutes of Health) is the biggest funder of biomedical science in the US. They support about $25 billion/year in funding across all disciplines. 

 

APPALACHIAN STATE UNIVERSITY	BOONE	NC	UNITED STATES	1	$395,561
DAVIDSON COLLEGE	DAVIDSON	NC	UNITED STATES	2	$493,400
DUKE UNIVERSITY		NC	UNITED STATES	9	$14,512,769
DUKE UNIVERSITY	DURHAM	NC	UNITED STATES	690	$340,621,618
EAST CAROLINA UNIVERSITY	GREENVILLE	NC	UNITED STATES	27	$7,541,347
ELIZABETH CITY STATE UNIVERSITY	ELIZABETH CITY	NC	UNITED STATES	3	$779,798
FAYETTEVILLE STATE UNIVERSITY	FAYETTEVILLE	NC	UNITED STATES	2	$429,273
NORTH CAROLINA AGRI & TECH ST UNIV	GREENSBORO	NC	UNITED STATES	3	$1,427,772
NORTH CAROLINA CENTRAL UNIVERSITY	DURHAM	NC	UNITED STATES	13	$5,427,834
NORTH CAROLINA STATE UNIVERSITY RALEIGH	RALEIGH	NC	UNITED STATES	70	$18,263,949
SHAW UNIVERSITY	RALEIGH	NC	UNITED STATES	3	$1,088,344
UNIVERSITY OF NORTH CAROLINA AT PEMBROKE	PEMBROKE	NC	UNITED STATES	2	$344,131
UNIVERSITY OF NORTH CAROLINA CHAPEL HILL		NC	UNITED STATES	6	$10,153,508
UNIVERSITY OF NORTH CAROLINA CHAPEL HILL	CHAPEL HILL	NC	UNITED STATES	775	$339,454,388
UNIVERSITY OF NORTH CAROLINA CHARLOTTE	CHARLOTTE	NC	UNITED STATES	5	$1,107,002
UNIVERSITY OF NORTH CAROLINA GREENSBORO	GREENSBORO	NC	UNITED STATES	14	$4,569,406
UNIVERSITY OF NORTH CAROLINA WILMINGTON	WILMINGTON	NC	UNITED STATES	2	$501,053
WAKE FOREST UNIVERSITY	WINSTON-SALEM	NC	UNITED STATES	7	$2,345,707
WAKE FOREST UNIVERSITY		NC	UNITED STATES	1	$1,091,880
WAKE FOREST UNIVERSITY HEALTH SCIENCES		NC	UNITED STATES	7	$17,072,304
WAKE FOREST UNIVERSITY HEALTH SCIENCES	WINSTON-SALEM	NC	UNITED STATES	220	$85,427,544
WINSTON-SALEM STATE UNIVERSITY	WINSTON-SALEM	NC	UNITED STATES	6	$1,813,754

Edited April 10, 2019 by tiblerbrit

[kermit]

^ Wow, I am pleasantly surprised that Chapel Hill is within $10 million of the University of Southern New Jersey in Durham.

[Crucial_Infra]

32 minutes ago, kermit said:

^ Wow, I am pleasantly surprised that Chapel Hill is within $10 million of the University of Southern New Jersey in Durham.

And much of that funding for Duke was based on fraudulent research 

[U_R_]

1 hour ago, tiblerbrit said:

Here's the current NIH  funding in NC (number of grants and total funding $). For those who aren't familiar the NIH (National Institutes of Health) is the biggest funder of biomedical science in the US. They support about $25 billion/year in funding across all disciplines. 

 

APPALACHIAN STATE UNIVERSITY	BOONE	NC	UNITED STATES	1	$395,561
DAVIDSON COLLEGE	DAVIDSON	NC	UNITED STATES	2	$493,400
DUKE UNIVERSITY		NC	UNITED STATES	9	$14,512,769
DUKE UNIVERSITY	DURHAM	NC	UNITED STATES	690	$340,621,618
EAST CAROLINA UNIVERSITY	GREENVILLE	NC	UNITED STATES	27	$7,541,347
ELIZABETH CITY STATE UNIVERSITY	ELIZABETH CITY	NC	UNITED STATES	3	$779,798
FAYETTEVILLE STATE UNIVERSITY	FAYETTEVILLE	NC	UNITED STATES	2	$429,273
NORTH CAROLINA AGRI & TECH ST UNIV	GREENSBORO	NC	UNITED STATES	3	$1,427,772
NORTH CAROLINA CENTRAL UNIVERSITY	DURHAM	NC	UNITED STATES	13	$5,427,834
NORTH CAROLINA STATE UNIVERSITY RALEIGH	RALEIGH	NC	UNITED STATES	70	$18,263,949
SHAW UNIVERSITY	RALEIGH	NC	UNITED STATES	3	$1,088,344
UNIVERSITY OF NORTH CAROLINA AT PEMBROKE	PEMBROKE	NC	UNITED STATES	2	$344,131
UNIVERSITY OF NORTH CAROLINA CHAPEL HILL		NC	UNITED STATES	6	$10,153,508
UNIVERSITY OF NORTH CAROLINA CHAPEL HILL	CHAPEL HILL	NC	UNITED STATES	775	$339,454,388
UNIVERSITY OF NORTH CAROLINA CHARLOTTE	CHARLOTTE	NC	UNITED STATES	5	$1,107,002
UNIVERSITY OF NORTH CAROLINA GREENSBORO	GREENSBORO	NC	UNITED STATES	14	$4,569,406
UNIVERSITY OF NORTH CAROLINA WILMINGTON	WILMINGTON	NC	UNITED STATES	2	$501,053
WAKE FOREST UNIVERSITY	WINSTON-SALEM	NC	UNITED STATES	7	$2,345,707
WAKE FOREST UNIVERSITY		NC	UNITED STATES	1	$1,091,880
WAKE FOREST UNIVERSITY HEALTH SCIENCES		NC	UNITED STATES	7	$17,072,304
WAKE FOREST UNIVERSITY HEALTH SCIENCES	WINSTON-SALEM	NC	UNITED STATES	220	$85,427,544
WINSTON-SALEM STATE UNIVERSITY	WINSTON-SALEM	NC	UNITED STATES	6	$1,813,754

Those look like the 2011 number to me.

These are the 2019 numbers. (I could very well be wrong)

APPALACHIAN STATE UNIVERSITY	BOONE	NC	UNITED STATES	1	$27,718
DAVIDSON COLLEGE	DAVIDSON	NC	UNITED STATES	1	$68,472
DUKE UNIVERSITY	DURHAM	NC	UNITED STATES	262	$119,849,064
EAST CAROLINA UNIVERSITY	GREENVILLE	NC	UNITED STATES	7	$1,788,835
FAYETTEVILLE STATE UNIVERSITY	FAYETTEVILLE	NC	UNITED STATES	1	$324,410
NORTH CAROLINA CENTRAL UNIVERSITY	DURHAM	NC	UNITED STATES	6	$1,652,233
NORTH CAROLINA STATE UNIVERSITY RALEIGH	RALEIGH	NC	UNITED STATES	27	$8,802,036
UNIV OF NORTH CAROLINA CHAPEL HILL	CHAPEL HILL	NC	UNITED STATES	277	$138,751,686
UNIVERSITY OF NORTH CAROLINA AT PEMBROKE	PEMBROKE	NC	UNITED STATES	1	$1
UNIVERSITY OF NORTH CAROLINA CHARLOTTE	CHARLOTTE	NC	UNITED STATES	3	$906,401
UNIVERSITY OF NORTH CAROLINA GREENSBORO	GREENSBORO	NC	UNITED STATES	8	$3,444,293
UNIVERSITY OF NORTH CAROLINA WILMINGTON	WILMINGTON	NC	UNITED STATES	1	$446,934
WAKE FOREST UNIVERSITY	WINSTON-SALEM	NC	UNITED STATES	1	$321,485
WAKE FOREST UNIVERSITY HEALTH SCIENCES	WINSTON-SALEM	NC	UNITED STATES	63	$36,067,336
WINSTON-SALEM STATE UNIVERSITY	WINSTON-SALEM	NC	UNITED STATES	1	$279,767

 

Its seems like the funding has gone down from all over the country, or I just put in the wrong criteria. 0_0

Edited April 10, 2019 by Ric0_0

[kermit]

^ way down.

EDIT: OK, crossed the line with this one. My apologies.

Edited April 11, 2019 by kermit

[KJHburg]

The view from Winston Salem on this 2nd branch of the Wake Forest Medical School is very positive as seen in this article. 

https://www.journalnow.com/news/local/baptist-atrium-to-create-second-medical-school-in-charlotte/article_db4b9632-e3df-5faa-bcca-0cf153276e90.html

from the article and I think you can see Charlotte and Wake Forest can accept a few more students

""Currently, the medical school receives more than 10,700 applications for 145 Doctor of Medicine positions each year, along with applicants for physician assistants, certified registered nurse anesthetists and doctor of nursing practice.""    So a school of equal size in one of the fastest growing states in the country is a no brainer.  

[jednc]

5 hours ago, Crucial_Infra said:

And much of that funding for Duke was based on fraudulent research 

Yeah, next thing you know they'll be offering fraudulent courses.

[pgsinger]

16 hours ago, kermit said:

^ Wow, I am pleasantly surprised that Chapel Hill is within $10 million of the University of Southern New Jersey in Durham.

It is mostly due to the added time the professors have at UNC.  Actually having to teach classes takes a lot of time away from research.

[tiblerbrit]

21 hours ago, kermit said:

^ way down.

EDIT: OK, crossed the line with this one. My apologies.

No, it hasn't gone down that much. All the awards for 2019 haven't been given out yet. As a percent of GDP NIH funding has been dropping for years, but recently the budget has held steady in terms of total funds. Sorry to take things too far off topic.

[kermit]

1 hour ago, tiblerbrit said:

No, it hasn't gone down that much. All the awards for 2019 haven't been given out yet. As a percent of GDP NIH funding has been dropping for years, but recently the budget has held steady in terms of total funds. Sorry to take things too far off topic.

Fair, my experience has been field-specific at NSF — steady declines since 2010, particularly when taking into account massive increases in applications.

Edited April 11, 2019 by kermit

[KJHburg]

From the 1Q 2019 report from JLL and the report on office space is quite rosy.  Lower vacancy and higher rents and the market absorbed  680,000 sq ft (Charlotte normally averages about 1 M a year!) this means out of the 51,000,000+ of office space 1.3% was absorbed.   

Nashville figures were  .2%  only 70,250 sq ft total  and Raleigh Durham absorbed 1.2% which is very good as well in their market which totals 49,549,000 sq ft.  Raleigh Durham totals were about 605,000 sq ft   All I can say is North Carolina is en fuego!   Some quotes from the report with KJ emphasis added in bold.   They do include Midtown and Southend as part of the CBD. 

""Construction activity remains active in the CBD, where Charlotte ranks fifth nationally
in square footage under construction as a share of inventory. Lincoln Harris broke
ground on Phase II of Legacy Union at 650 S Tryon Street; the project features 362,500
square feet of office, bringing Uptown’s development pipeline to 2.7 million square
feet.""

also from the report

Charlotte maintains its economic strength, buoyed by a growing labor market. In a
recently published study, CompTIA analyzed job growth at the state and city level by
sector. Its results rank North Carolina fourth in tech job gains year-over-year and rank
Charlotte 11th on the city level. Last year, the tech sector added the most jobs in
Charlotte, followed by manufacturing and hospitality. These placements come on the
heels of the announcement that SunTrust and BB&T have agreed in principal to
merge and have picked Charlotte as the future site for their headquarters. Along with
BB&T/SunTrust, there are an estimated three to five large corporations that are
seeking space within the urban core of Charlotte in 2019-2020. 

More office space absorbed means more buildings built! 

download your copies of various cities here https://www.us.jll.com/en/locations/southeast

[kermit]

The energy cluster isn't dead. New battery research facility on its way to town:

https://www.bizjournals.com/charlotte/news/2019/04/11/zapgo-chooses-charlotte-for-battery-research-lab.html

 

[KJHburg]

Dole Foods formally signs lease for space for execs at 200 South Tryon.  Wonder if they will quietly start calling this the HQ as they have sold their Westlake Village CA building another stealth relocation LOL 

https://www.bizjournals.com/charlotte/news/2019/04/15/dole-signs-lease-for-executive-office-in-uptown.html

[urbanlover568]

Charlotte added the most IT job's in the country in the past 3 years.  WITH A $92,600 ANNUAL AVERAGE WAGE.  Incredible!  

 

https://www.rentcafe.com/blog/rental-market/real-estate-news/it-hubs/

[KJHburg]

On 4/12/2019 at 6:47 PM, KJHburg said:

From the 1Q 2019 report from JLL and the report on office space is quite rosy.  Lower vacancy and higher rents and the market absorbed  680,000 sq ft (Charlotte normally averages about 1 M a year!) this means out of the 51,000,000+ of office space 1.3% was absorbed.   

Nashville figures were  .2%  only 70,250 sq ft total  and Raleigh Durham absorbed 1.2% which is very good as well in their market which totals 49,549,000 sq ft.  Raleigh Durham totals were about 605,000 sq ft   All I can say is North Carolina is en fuego!   Some quotes from the report with KJ emphasis added in bold.   They do include Midtown and Southend as part of the CBD. 

 

download your copies of various cities here https://www.us.jll.com/en/locations/southeast

In following up I read the Atlanta office market report.  In a market totally according to JLL 148,000,000 sq ft basically 3x the size of Charlotte's office market Atlanta only absorbed 507,000 sq ft less in raw numbers than Charlotte and only .3% of their space vs. 1.3% here in Charlotte.    Charlotte is the best performing office market in the south bar none and 2nd place would right up 85 the Raleigh Durham.  That is looking at the Florida markets, Atlanta, Nashville etc.  

[KJHburg]

On 4/17/2019 at 1:52 PM, KJHburg said:

In following up I read the Atlanta office market report.  In a market totally according to JLL 148,000,000 sq ft basically 3x the size of Charlotte's office market Atlanta only absorbed 507,000 sq ft less in raw numbers than Charlotte and only .3% of their space vs. 1.3% here in Charlotte.    Charlotte is the best performing office market in the south bar none and 2nd place would right up 85 the Raleigh Durham.  That is looking at the Florida markets, Atlanta, Nashville etc.  

I just read the JLL 1st Quarter 2019 report and Charlotte is the Third best office market in the country in terms of absorption of office space as a percentage of total inventory.  Charlotte is bested by only Silicon Valley and Fairfield County CT office markets.  Charlotte absorbed 1.3% of its total office space national average is .3%   Better than Nashville .1%, Austin .9% Raleigh Durham (close 1.2%)  Atlanta .3% NYC 0.0% Seattle .5%  etc.  

 https://www.us.jll.com/en/trends-and-insights/research/office-market-statistics-trends

[Desert Power]

9 hours ago, KJHburg said:

On 4/17/2019 at 1:52 PM, KJHburg said:

In following up I read the Atlanta office market report.  In a market totally according to JLL 148,000,000 sq ft basically 3x the size of Charlotte's office market Atlanta only absorbed 507,000 sq ft less in raw numbers than Charlotte and only .3% of their space vs. 1.3% here in Charlotte.    Charlotte is the best performing office market in the south bar none and 2nd place would right up 85 the Raleigh Durham.  That is looking at the Florida markets, Atlanta, Nashville etc.  

I just read the JLL 1st Quarter 2019 report and Charlotte is the Third best office market in the country in terms of absorption of office space as a percentage of total inventory.  Charlotte is bested by only Silicon Valley and Fairfield County CT office markets.  Charlotte absorbed 1.3% of its total office space national average is .3%   Better than Nashville .1%, Austin .9% Raleigh Durham (close 1.2%)  Atlanta .3% NYC 0.0% Seattle .5%  etc.  

 https://www.us.jll.com/en/trends-and-insights/research/office-market-statistics-trends

Charlotte is just crushing it right now.  We need better transit, but this is just amazing.

[CarolinaDaydreamin]

9 hours ago, Desert Power said:

Charlotte is just crushing it right now.  We need better transit, but this is just amazing.

We are a fast growing city (one of the top 5 metros in the country), but I'm surprised the percentage isn't actually higher. Will there be a lag from the announcement of these HQs to a delayed bump in population in say 2020-22' or are the HQ announcements not enough for a noticeable growth change in an already growing city?

[videtur quam contuor]

In a growing city or region differing waypoints may be identified by cohorts or generations that associate leaps according to events of their own time. In my own time it was the decision of IBM to move a major research and manufacturing facility to the new Research Park area northeast of the city near UNCC. Noted here n the IBM archive:

"1978

June 28 -- IBM announces plans to build a development laboratory and manufacturing plant near Charlotte, N.C., to be operated by SCD. Built on 701 acres, the new facility will consolidate SCD's Industry Systems development activities then located in Endicott, Kingston and Los Gatos, and provide additional manufacturing capacity to meet growing demand. At the same time, IBM says that assembly and test operations for selected logic cards used primarily in SCD products will transfer from the System Products Division's Endicott facility to the Charlotte site."

This developed into a bank teller manufacturing facility and much else. When it began all of my age group knew that this was a marker in the growth of a newly vital city.  Our future success was assured, our decision to plant ourselves here reinforced. Charlotte population in 1978 was ~300,000.

Others of earlier and more recent periods will recall moments and announcements that in their memory mark an upward trajectory. This one above is mine.

What marker in your life and memory display a noted vitality of our city?

[Windsurfer]

4 minutes ago, tarhoosier said:

 

What marker in your life and memory display a noted vitality of our city?

Mine was watching the Brookshire (Northwest) Freeway being dug and built while riding the long bus ride to First Ward Elementary around 1971.  We were actually getting a FREEWAY!  

[CLTranspo]

The first light rail in the Carolinas!

[atlrvr]

Outback Steakhouse at Windsor Square.

[kermit]

I was about 18 and living in the Triangle (where I grew up) but I do remember the arrival of the Hornets as being a big deal for the whole state. The emergence of Charlotte as a major league city was really vivid for me despite not being an NBA fan.  From my point of view the Hornets were the first thing (other than Carowinds) that Charlotte had that the Triangle did not. 

I was living in Georgia when the Panthers arrived, from my perspective they were much less of a transformative event.