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KJHburg

By KJHburg
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KJHburg
KJHburg

MAJOR NEWS: Apple finally announces their new campus on their company owned land in the RTP off Davis Dr and  Louis Stephens in the Wake county side of RTP . 3000 jobs avg. salary $187,000.  Will be A

KJHburg
KJHburg

this is HUGE for Durham and the Triangle.  Here is the article from TBJ today ""The California-based company said in a release that the office will serve as a hub for the Google Cloud's engineeri

KJHburg
KJHburg

After driving around the Triangle the last 2 days I more convinced than ever this is ONE metro and needs to be designated as ONE MSA.  I went to the part of the town of Cary that is in Chatham County

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KJHburg Ecumenopolis

KJHburg

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Not quite approved yet but incentives sought for this expansion of Corning in Durham.

""Top execs at Corning Incorporated (NYSE: GLW) are bullish on Durham – envisioning a multibillion opportunity with a new glass product whose production is expected to bring more than 300 jobs to Bull City.   “If we’re right, and Valor fulfills the potential that we see, we are building a new long-term multibillion-dollar franchise that could power Corning’s growth for the next decade and beyond,” said Corning CEO Wendell Weeks, talking about Valor Glass – the product at the center of an in-progress expansion project in Durham.""

subscriber article https://www.bizjournals.com/triangle/news/2019/06/17/corning-execs-where-durham-sits-in-our.html

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po-boy Whistle-Stop

po-boy

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5 hours ago, KJHburg said:

Wake County and Raleigh compared itself to major tech centers around the country and they came out #1.  You can download the full report from this webpage. 

http://raleigh-wake.org/blog/2019-metro-comparisons-released-what-did-we-find

I think there is some good info in there, but I have to laugh that Raleigh commissioned a report comparing itself to other cities and it came out #1. It's a bit like me commissioning a report comparing myself to movie stars and I come out as the most handsome. 

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KJHburg Ecumenopolis

KJHburg

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^^^ I  agree it does sound suspicious but they did use facts and stats my take aways from it would be that Raleigh is about equal with Austin as a tech hub in terms of attractiveness.   Seattle and Silicon Valley are in another league especially in cost of business and that hurts them.  When you scale a company to larger size your early stage funding goes a lot further here and the competition for labor is not as fierce as it is in Seattle and San Fran and Silicon Valley. 

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DrewR05 Crossroads

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I used to intern at WCED in college. Obviously, Raleigh does not compare economically to the likes of the Bay Area, Puget Sound, Austin, or Boston. I would argue that Austin and Raleigh were equals at one point, but Austin has had a lot more success post- great recession.  WCED job is to market the region, so of course, they are going to argue that Raleigh is better. What gets me excited about Raleigh's growth is that the foundation is clearly there. 

For those who are interested in reading a non-bias report, I posted a link below from the company I work at (PitchBook). This report breaks down the 2Q 2019 venture capital activity. If you got to page 33 or so, you can see a break down of venture activity by region. It's humbling to see that in the 2Q, a little over 7% of total venture deal count and 4% of deal value occurred in the southeast. On the other hand, the West Coast saw 38% of deal count and 58% of deal value. This goes to show the dominant growth of start-up companies in the West Coast.  Why not the Southeast/ North Carolina? I have my own opinions, but I'm curious to hear yalls. 

https://pitchbook.com/news/reports/2q-2019-pitchbook-nvca-venture-monitor

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KJHburg Ecumenopolis

KJHburg

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the problem  is that most of the venture capitalists are all located in Bay area and there is not as much in the other parts of the country.  Smart ones are starting to realize not everything is developed there and there are great technologies in others parts of the country.  However that does not mean technology is not be developed in this state.  Case in point the voice technology was snapped up by Amazon for Alexa came from a Charlotte based company.

https://www.theatlantic.com/technology/archive/2011/11/i-see-your-siri-and-raise-you-a-yap-amazon-quietly-snaps-up-speech-recognition-startup/248165/

 

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DrewR05 Crossroads

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I don't think anyone is arguing that North Carolina does not produce tech companies. You can always point to one-off examples, but what the data shows is that NC/ Southeast is not producing these companies to the same extent compared to that of  West Coast, North East, and the Mid-Atlantic States. The M&A figures also describe a similar picture.  While the majority of venture firms are located in Silicon Vally, there are large venture firms in Raleigh, Charlotte, Atlanta, Washington DC, and Miami. Furthermore, in the days of financial analytics, proximity is less of a factor when VC firms are looking to source investments.  This all describes a similar story- NC touts its low cost of living, and "business-friendly tax environment"; however, investment and emerging companies continue to favor larger, more established metros. If capitalism takes its course, these emerging companies will become the corporations of the 21st century. 

Why is this occurring? Because these places have made investments in human capital rather than large corporations. They have invested in education (at every level), transit, and healthcare; thus, they have prospered. Yes, they have there problems like the cost of living but if anything that's a sign of commerce. Its time that we re-think our economic growth strategy in NC. 

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U_R_ Whistle-Stop

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As an Atlanta native, I can say Atlanta is better of than many cities in the South, but it still suffers greatly. With UGA, GA Tech, and Emory all nearby, there is no shortage of talent, but much of this talent leaves to go elsewhere. This a big problem that the area still hasn't been able to fix. However, I would say that Atlanta has found a great deal of sucess with many fintech startups. It's also home to Mailchimp, Kabbage, etc. which are all doing well. It also helps that there are programs funded by large Atlanta companies (Cox Techstars) to help Atlanta startups. 

I don't know if there is a publisher like this in your area, but this here always provides really good info on Atlanta startups and stuff. 

https://www.americaninno.com/atlanta/

I think an area where ATL has found sucess is by starting a few areas where a lot of startups gather. Colony Square/Tech Square, Buckhead, and Alpharetta all have a big majority in Atlanta. Especially Alpharetta, there is always at least startup from there which is acquired every week. 

As for Raleigh, I'm not familiar with the area, but it definitely has a lot of great components to mkae it a great tech hub. It's hard to beat UNC, Duke, and NC State. If the area can play their cards correctly, I am sure that it will tremendously benefit the area. 

 

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rolly Hamlet

rolly

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Uhh, there's plenty of native tech companies in the Triangle.  SAS Institute, RedHat, Pendo... smaller ones like Ansible and many others.  Of course lots of tech has moved in from NY and CA like IBM, Cisco, NetApp and so on. If those other areas were so great, big tech wouldn't be leaving them like they are. 

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RaleighHeelsfan Hamlet

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2 hours ago, KJHburg said:

Big pharma plant coming to Durham with 425 jobs (including a few in Wilson County)  Good win for the Triangle.

https://www.bizjournals.com/triangle/news/2019/07/25/jobs-gardasil-maker-to-bring-425-jobs-to-triangle.html

Wait...what does that article say? It's locked??? I also saw a locked article saying Merck cut 150 jobs???

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KJHburg Ecumenopolis

KJHburg

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from the article mentioned above

""A major pharma is bringing 425 jobs to the region in exchange for incentives, a $680 million investment.  Merck Sharp and Dohme Company just picked Durham over competing locations in Virginia and Pennsylvania for a 225,000-square-foot bulk drug substance manufacturing facility to support its Gardisil vaccine, which protects against HPV.  The move means 425 new jobs over five years, starting in 2021.  Jobs will pay a minimum average annual wage of $73,382. Compare that to Durham County's average of $68,731.  The project includes a 175,000-square-foot manufacturing space and a new utility center in Durham.""

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rolly Hamlet

rolly

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A $300 million Johnston County project  called Eastfield Crossing is in the works at of I-95  and Hwy 70 in Selma.
Includes a business park with medical, industrial and manufacturing; and hotels and single-family homes. 

https://www.wral.com/proposed-300m-live-work-play-project-on-i-95-in-johnston-could-transform-county/18543094 

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rolly Hamlet

rolly

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An outside chance at best, and if this project came to NC, it likely wouldn't be in the Triangle area. But, it's a possibly...

https://www.wraltechwire.com/2019/08/09/indian-vehicle-manufacturer-puts-nc-on-shortlist-for-new-1b-plant-2000-jobs/
https://www.wraltechwire.com/2019/08/09/commerce-exec-nc-would-be-excellent-choice-for-auto-industry-heres-what-mahindra-could-be-offered/

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