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North Carolina State Wide Development

rancenc

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cityboi Metropolitan Area

cityboi

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North Carolina officials in negotiations with Supersonic Jet Maker for a manufacturing facility at Piedmont Triad International Airport in Greensboro 

https://greensboro.com/business/local/supersonic-jet-maker-negotiating-with-nc-to-build-a-manufacturing-site-in-greensboro/article_8fce0317-8138-5fd4-842a-6c79ce2f64ec.html#tracking-source=home-breaking

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KJHburg
KJHburg

this a great jobs announcement for Halifax County bringing jobs from California and back from China with 100 jobs.  Halifax county is one of the poorest in NC despite being on I-95.  https://www.

cityboi
cityboi

Planned downtown Greensboro Aloft being upgraded to an AC Hotel and the height is being increased to 12-stories. https://www.greensboro.com/business/new-carroll-hotel-will-be-much-taller-than-pla

cityboi
cityboi

Economic Development projects in the Greensboro area. Boom Supersonic jet manufacturing facility at Piedmont Triad International Airport in Greensboro. It will eventually employ almost 2,000 work

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cityboi Metropolitan Area

cityboi

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Construction on the Westin Greensboro/parking deck picking up speed 

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Also Lidl is purchasing land in downtown Greensboro to build a 30,000 to 36,000 square foot grocery store. The store will be built on the southern end of downtown across the street from the Union Square campus and future mixed-use apartments and parking deck development. It will be the second grocery store to come to downtown Greensboro. The other is a 15,000 square foot grocery store on the north end of downtown near the ballpark called Deep Roots Market which is like a mini version of Whole Foods. However Lidl will be the first major chain grocery store to come to downtown.

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kermit Megalopolis

kermit

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TBJ reports that one of the reasons that one of the reasons Rivian took NC off their list was due to over regulation of the dealer-sales system. Apparently Tesla was given an exception to the direct sales regulation, but the law does not apply to any other car companies.

Quote

An electric vehicle maker considered – and then rejected – North Carolina for a $5 billion manufacturing plant, and public records show it likely came down to politics.

Rivian, an Amazon-backed company that in December confirmed plans for a 7,500-job facility near Atlanta, Georgia, took North Carolina off the site list because a state bill it thought could pass was never brought forward. 

While negotiating with the state over potential incentives, records obtained through a Freedom of Information request show Rivian, which is also backed by Ford Motor Company, was in contact with Wake County state Rep. Julie von Haefen on a measure that would allow certain automakers to sell directly to customers rather than through auto dealers – potentially leveling the playing field, as Tesla had already negotiated the ability to have six direct sale centers in the state – that state law was passed in 2019. The new bill would have allowed Rivian (Nasdaq: RIVN) the same opportunity.

I really miss the time when NC pols were pro-business. Jim Hunt and Mark Basnight would have made this happen.

https://www.bizjournals.com/triangle/news/2022/03/04/why-amazon-backed-rivian-picked-georgia-over-nc.html

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cityboi Metropolitan Area

cityboi

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Downtown Greensboro development 

Lofts @ 110 MLK at the corner of South Elm Street 

140 apartment units, retail space and rooftop dining.

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Carroll Ballpark South - 150-room AC Hotel, 280 apartments and 30,000 square feet of restaurant, retail and conference space

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Proposed retail container hub near the depot

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Continued construction on the Westin Greensboro  

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In addition two other downtown apartment developments are in the works, 10 new restaurants opening up downtown this year due to increase demand from the Steven Tanger Center traffic. The Hampton Inn & Suites will open in June

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rancenc City

rancenc

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Let's see how many companies set up shop in the Tarheel state!

Exclusive: More than 40 automotive projects eyeing North Carolina

Jun 9, 2022, 2:52pm EDT
http://media.bizj.us/view/img/12212331/kingsboro*304xx1200-800-40-0.jpg
CAROLINAS GATEWAY PARTNERSHIP

The Kingsboro Megasite is attracting interest from EV players, a top economic development official has said.

VinFast and Toyota (NYSE: TM) could be just the beginning of a string of automotive projects coming to the Tar Heel state.

As activity ticks up among firms looking to expand or relocate operations in the state, automotive companies keep looking at North Carolina, according to Christopher Chung, CEO of the Economic Development Partnership of North Carolina.

Automotive is now a “leading sector of activity for us,” he said. “I suspect this is being driven by continued activity in (electric vehicles) and EV-adjacent industries."

So far this year, North Carolina is at 27 incentivized ecodevo project wins. That’s nearly 15,600 jobs, more than $5.5 billion in investment and nearly $439 million in approved state incentives ($316 million of them for electric-vehicle maker VinFast).

As of June 1, EDPNC was working a pipeline of 253 potential projects, up 8 percent from a month ago. Were the state to win all of them, that would be 80,000 new jobs and $63 billion in new investment. Automotive sector projects top the list, with 42 potential deals, followed by food and beverage at 33, life sciences at 27 and chemicals and plastics at 19.

The incentivized projects North Carolina has won so far in 2022:

In the months following Vietnamese car maker VinFast’s decision to bring a 7,500-job automotive assembly plant to Chatham County, multiple automakers have made announcements about plans to expand or build new North American plants tied to electric vehicles. Ford (NYSE: F) announced recent plans to add 6,300 jobs in Ohio, Michigan and Missouri. And Volkswagen is reportedly scouting locations for an in-house battery-cell manufacturing operation on the continent – though it’s unclear which markets remain on its shortlist.

Closer look: Auto plant competition heats up between North Carolina and Georgia

Economic development officials across the state have said EV activity is picking up, with Norris Tolson, CEO of the Carolinas Gateway Partnership, recently saying his region is zeroing in on opportunities for the Kingsboro Megasite near Rocky Mount.

Foreign direct investment interest is also creeping up after tanking during the pandemic, Chung said. It’s at 29 percent of all active projects, up from 21 percent at the beginning of 2022.  The top four origin markets are Japan, Germany, Korea and the U.K. Chung attributes much of the interest from Japan to the Toyota battery plant coming to the Greensboro-Randolph Megasite.

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cityboi Metropolitan Area

cityboi

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Groundbreaking on the AC Hotel and luxury apartments in downtown Greensboro south of the Ballpark is slated for early 2023. There will be retail and restaurants on the street level below the apartments. The hotel will have conference space. The interior parking deck has already been completed and is in use today. It will be built directly across the street from the ballpark and the new 9-story 400 Bellemeade office building.

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