Triangle Economic News

[KJHburg]

Just now, RALNATIVE said:

What????

I've lived in Silicon Valley for years and this is a very reputable company. This should actually be big news.

I agree it should be touted by the state.  it speaks volumes for NC and especially the Triangle region.  

[KJHburg]

MORE new jobs this with a division of Clorox which owns Burts Bees in Durham. 158 jobs average salary 120K plus.

Clorox to expand in Durham, create 160 jobs by relocating Better Health VMS unit - Triangle Business Journal (bizjournals.com)

Edited November 24, 2020 by KJHburg

[rancenc]

Follow up to KJHburg's posting from above.

https://www.nccommerce.com/news/press-releases/clorox-company-create-158-high-paying-jobs-durham

[RALNATIVE]

Around 160 new jobs with an average salary of $123,310.

That is huge for NC and will help lead to greater things in this area.

[nicholas]

Man...reading through all these recent announcements for Durham County.  Can you imagine what Durham would look like if many of these companies started building in downtown instead of RTP?  I think the skyline would quickly rival Greensboro, and soon catch up to Raleigh.  Obviously a lot of these companies are better suited to locations in RTP, but it's hard not to wonder what it could be.

[Raleigh Walker]

Yet another life sciences jobs announcement for RTP. KBI Bipharma to build $150m facility and create more than 200 jobs. Durham/RTP really poppin' with the biotech/life science lately. I love to see it.

https://www.bizjournals.com/triangle/news/2020/12/02/durham-bio-manufacturer-to-add-150-million-facili.html

[KJHburg]

In a story about Amazon HQ2 and the Triangle area they talk about the MSA being combined again.  I think it should be one as there is so much cross traffic from Wake to Durham and vice versa.  Chatham County which is actually part of Durham metro contains parts of Cary that is the region's 3rd largest city and in the Raleigh metro.  A combined Raleigh Durham Cary Chapel Hill would be bigger than Nashville metro.  It is one media market .  People shop and cross the metro borders for entertainment and so forth already.  The nation views it as one metro as well.  

""Another factor that worked against the Triangle in the Amazon race was its size.  “We weren’t big enough,” Adrienne Cole, president and CEO of the Greater Raleigh Chamber of Commerce, said in 2018.  It’s not just a question of population. Levitan points to the way the federal government divides Metropolitan Statistical Areas. Raleigh-Cary and Durham-Chapel Hill are separate metros. A combination, he said, would “push us up into a much more competitive market.” Levitan said there are “conversations underway” to lobby for those metros to be combined in the future.   Levitan said that, particularly amid the MSA classification, the region needs to make sure it’s telling its story.   “We need to focus on telling the story differently,” he said. “They can be urban, they can live on a farm, they can live in a suburb … it’s the criteria that the workfoce thinks about individually when they consider whether they want to move to a location. … We need to tell the story better about the diversity of our communities.”""

Two years after Raleigh lost Amazon HQ2: Lessons learned but challenges remain for economic developers - Triangle Business Journal (bizjournals.com)

 

[KJHburg]

Raleigh gains the HQ of a multibillion dollar tech company coming from NYC!

Raleigh becomes new HQ for Phreesia as company makes remote work indefinite - Triangle Business Journal (bizjournals.com)

[SydneyCarton]

25 minutes ago, KJHburg said:

Raleigh gains the HQ of a multibillion dollar tech company coming from NYC!

Raleigh becomes new HQ for Phreesia as company makes remote work indefinite - Triangle Business Journal (bizjournals.com)

The Triangle is a mini version of Boston and SF combined.  Its power in Biotech and Tech complements Charlotte’s power in finance to create a formidable corporate corridor.

Edited December 10, 2020 by SydneyCarton

[KJHburg]

I have said this for years and I think the entire Triangle region will benefit and yes even Charlotte.  

Silicon Valley exodus could help NC, says former Cisco CEO John Chambers | WRAL TechWire

[SydneyCarton]

I love San Francisco.  I think it's one of the best American cities.  However, for people making $150-$200k per year at these companies, life is difficult.   That same money (or even a lot less) would go much further in N.C.

[RALNATIVE]

2 hours ago, SydneyCarton said:

I love San Francisco.  I think it's one of the best American cities.  However, for people making $150-$200k per year at these companies, life is difficult.   That same money (or even a lot less) would go much further in N.C.

As someone who's lived in both areas and is very familiar with both economies and COL, you will definitely get more bang for your buck in the Triangle. When not in CA I miss the wealth of things to do, the food, skiing in Tahoe, and the overall culture, but over the years Raleigh has improved in many areas.

10-15 years ago I could not imagine spending most of my time in Raleigh and would go back to CA at the first opportunity.  Now i'm quite happy being in Raleigh most of the time. I think that the millenial energy and progressive growth of Raleigh has made it more exciting to me. The influx of great people has turned this once sleepy southern town on it's head. The vibe here is really incredible compared to many other cities that I visit and I can see why so many people want to move here.

[SydneyCarton]

14 hours ago, RALNATIVE said:

As someone who's lived in both areas and is very familiar with both economies and COL, you will definitely get more bang for your buck in the Triangle. When not in CA I miss the wealth of things to do, the food, skiing in Tahoe, and the overall culture, but over the years Raleigh has improved in many areas.

10-15 years ago I could not imagine spending most of my time in Raleigh and would go back to CA at the first opportunity.  Now i'm quite happy being in Raleigh most of the time. I think that the millenial energy and progressive growth of Raleigh has made it more exciting to me. The influx of great people has turned this once sleepy southern town on it's head. The vibe here is really incredible compared to many other cities that I visit and I can see why so many people want to move here.

True.  To me though, a handful of American cities (NY, SF, Boston, Chicago, DC, e.g.) exemplify the truly great urban experience.  They have tons of gorgeous old buildings, museums, etc.   Just walking around them is a great pleasure.  That being said, it's difficult when you have to utterly struggle financially to raise a family.

Edited January 23, 2021 by SydneyCarton

[RALNATIVE]

11 hours ago, SydneyCarton said:

True.  To me though, a handful of American cities (NY, SF, Boston, Chicago, DC, e.g.) exemplify the truly great urban experience.  They have tons of gorgeous old buildings, museums, etc.   Just walking around them is a great pleasure.  That being said, it's difficult when you have to utterly struggle financially to raise a family.

Those are all my most favorite cities in the US, with Miami not included. I would not recommend for anyone to attempt to raise a family in them though. 

[KJHburg]

another accolade for Raleigh one of the top capital cities in USA only bested by rival Austin and Madison WI

https://www.wraltechwire.com/2021/01/24/more-good-grades-for-raleigh-no-3-among-state-capitals-for-best-place-to-live/

[RALNATIVE]

41 minutes ago, KJHburg said:

another accolade for Raleigh one of the top capital cities in USA only bested by rival Austin and Madison WI

https://www.wraltechwire.com/2021/01/24/more-good-grades-for-raleigh-no-3-among-state-capitals-for-best-place-to-live/

There definitely seems to be some level of competition between the state capitols, especially those in the South and Southeast. Raleigh is often compared to Austin, Nashville, Atlanta, and Columbus. I would also probably throw Oklahoma City in the mix.

[SydneyCarton]

8 hours ago, RALNATIVE said:

There definitely seems to be some level of competition between the state capitols, especially those in the South and Southeast. Raleigh is often compared to Austin, Nashville, Atlanta, and Columbus. I would also probably throw Oklahoma City in the mix.

I think that Austin, Nashville, and Atlanta are presently much better than  Raleigh.  However,  with respect to state capitals in the Southeast, Raleigh is far more preferable than Columbia, Montgomery, and Tallahassee.

P.S.: While Columbus obviously isn’t in the South, I find it to be a city that is very similar to Raleigh.

Edited January 26, 2021 by SydneyCarton

[KJHburg]

^^ I think Raleigh is superior to Nashville in transportation, livability, economy etc.   

anyway here is a great discussion from Brian Leary an exec with Highwoods talking about the future and specifically Raleigh in the next few years

Launch2021_HIW_BrianLeary on Vimeo

[Richhamleigh, DC]

51 minutes ago, KJHburg said:

^^ I think Raleigh is superior to Nashville in transportation, livability, economy etc.   

anyway here is a great discussion from Brian Leary an exec with Highwoods talking about the future and specifically Raleigh in the next few years

Launch2021_HIW_BrianLeary on Vimeo

Thank you for sharing this, K'burg.  Excellent.

[KJHburg]

322 new jobs coming to Cary with PennyMac mortgage a California based company.

Mortgage lender promises 322 new jobs in Cary; average salary is $64,000 | WRAL TechWire

Mortgage lender PennyMac picks Cary for 320-job expansion - Triangle Business Journal (bizjournals.com)

Edited January 26, 2021 by KJHburg

[Raleigh Walker]

So, my wife is a store manager at the Triangle Town Center mall. Apparently there are whispers among mall employees that TTC is closing down sometime quite soon "so offices with apartments on top can go there". Does anyone know if there is any truth to this or is there any way to find out?

Edited February 2, 2021 by Raleigh Walker

[Richhamleigh, DC]

1 hour ago, Raleigh Walker said:

So, my wife is a store manager at the Triangle Town Center mall. Apparently there are whispers among mall employees that TTC is closing down "so offices with apartments on top can go there". Does anyone know if there is any truth to this or is there any way to find out?

That would make sense.  The originally vision for the "Northeast Regional Center" of Raleigh (circa 1998) when the mall was first proposed would have done something like this from the start -- of course, who wants to listen to the design graduate student intern responsible for the "vision"?  LOL.   I hope this happens sooner, rather than later -- that area isn't getting any better....

Edited February 2, 2021 by Phillydog

[KJHburg]

Triangle venture capitalists want to take advantage of the movement of people and firms from California.  

I agree with this article and many of the smaller companies in Silicon Valley are good ones to attract as it is so expensive to scale a business in California due to costs and regulations.

Triangle VCs, execs ready to capitalize on Silicon Valley exodus | WRAL TechWire

[RALNATIVE]

13 hours ago, KJHburg said:

Triangle venture capitalists want to take advantage of the movement of people and firms from California.  

I agree with this article and many of the smaller companies in Silicon Valley are good ones to attract as it is so expensive to scale a business in California due to costs and regulations.

Triangle VCs, execs ready to capitalize on Silicon Valley exodus | WRAL TechWire

At the rate things are going in CA that state will be like a 3rd world country in about 10-15 yrs or maybe even sooner. You'll have the wealthy who continues to live their life unimpeded, and then everyone else.

[KJHburg]

Not tired of winning yet.  ANOTHER 275 pharma jobs coming to Raleigh this time paying average $143K more than twice the Wake County average with Gilead Sciences.

Gilead Sciences plans 275 high-paying jobs in Wake County - Triangle Business Journal (bizjournals.com)