Economic Development - Expansions and Relocations

[RANYC]

Thank Goodness our speculations were wrong. 

[Blue_Devil]

I expect we hear announcements from Varo and Citi with in the next few months. 

[Blue_Devil]

Morehead Street Continues to get Saucy. Literally, Saucy Brew Works is opening the biggest Brewery in Charlotte, across the street from the DOWD YMCA. 29,000 sqft! 

https://charlotte.axios.com/260013/cleveland-ohio-based-saucy-brew-works-brewpub-expands-charlotte-dilworth/

 

The big picture: The Cleveland-based Saucy Brew Works brewery and pizza restaurant plans to open its fifth location, and first East Coast location, here in Charlotte at 501 E. Morehead Street across the street from the Dowd YMCA. This will be the first with an Airbnb next-door.

Once complete, the property will be Charlotte’s largest brewery — larger than both Brewers at 4001 Yancey (28,000 square feet) and Olde Mecklenburg Brewery (25,000 square feet).

What to expect: Crews will begin demolition of the existing building in January 2022, and construction will take about nine months to a year, Saucy’s CEO and co-founder Brent Zimmerman tells me.

• The two-story brewpub will have an enclosed penthouse space, plus a nearly 10,000-square-foot rooftop deck.
• There will be at least 20 beers on tap, plus coffee and a full food menu centered around Saucy’s New Haven-style pizzas (thin-crust, coal-fired).

But Dilworth also called Saucy’s name for Zimmerman’s love of restoring historic properties. While the brewpub’s building will be rebuilt from the ground-up, the historic Mayes House next-door will remain and be renovated as a 7-room Airbnb.

Edited May 28, 2021 by Blue_Devil

[MarcoPolo]

With ninja like moves, and good fortune, it is becoming more certain every day that Charlotte has successfully secured a foothold onto the future landscape of the finance industry.   Over the last 40 years The Queen staked out a kingdom on the existing field of play,  nurturing and hosting some of the behemoths of the banking world, and parlaying  her presence into growth and development for the City.   The spinoffs have changed Charlotte completely and even sparked the energy that eventually placed the City in such a position of prominence on this Forum we all enjoy  

But the banking landscape that supported all this success is changing and changing fast.  Tremors are constant, the precursors of earthquakes to come powerful enough to alter the course of the behemoths themselves.   I have colleagues at many such behemoths, and the guidance they share concerning where the industry may be in 20 years is eye opening.   Suffice it to say, for us skyscraper and urban development enthusiasts, such a  future is one we will want a city with Charlotte's economic profile to avoid.   With one foot firmly planted on the increasingly stable earth of the new finance industry,  the Queen seems well on her way to avoid such a future.  

KJ is right to be excited.  These announcements confirm that banks and institutions, aligned more closely with the Fintech Revolution and its mindset, already recognize the Queen's flag staked alongside her foot on the new field of play.   The ecosystems of complimentary and support businesses this revolution will be bringing with are immense.  They too will look to Charlotte as the banking structures and norms of the past are supplanted by new opportunities.   The Queen is building a new Kingdom and it's one with plenty of fertile land in all directions to expand onto.   For us UP people that means many years to come enjoying announcements of growth and development and skyscrapers.  All that's left is for the Queen to successfully take that last step off the old shaky earth into the future while keeping her balance.  

But, as I've stated before, if Charlotte really wants join the big leagues and secure its destiny for generations to come, the City needs to significantly expand its education presence.   Finance is a lubricant greasing the wheels of commerce and society.   Education builds the wheels.   The growth of UNCC, Queens, CPCC, Davidson, Johnson and Smith, and Wake Forest should be of paramount importance to everyone on this Forum.   Imagine if these institutions had the cache nationally and internationally the trio of Duke, Chapel Hill, NC State have?   It is easy to see how these three Universities impact the Triangle.   There would be no Triangle without them!    Raleigh would be a small southern State Capitol, Durham and Chapel Hill, sleepy communities..... and there would be no Research Park.   Charlotte would have been the undisputed urban center between Washington and Atlanta.  

Cities with solid and recognized institutions of higher learning outrun and outlast those that do not.   I am more excited long term about UNCC's growth, and Wake Forests medical school than any Fintech relocation.   Raising the visibility and quality of all the local Colleges and Universities in Charlotte and marketing them together as a high quality pool of talent is the single most important endeavor the City can undertake for its future.  

[RANYC]

Speaking of education, I'd love to see all these corporate titans and their talent getting systematically engaged with our public school students...en masse.  The CMS system needs a strong sense of stakeholdership.  It doesn't matter if you're a parent or not, or if you have kids in the CMS system or not, we all have a deeply vested interest in our schools churning out as much high-quality, cognitively robust additions to the labor pool as possible.  From even an early age, our children must be rigorously challenged on methods of thinking and analysis, on conducting research, identifying and framing a problem, making the case for solutions, experimenting and defending solutions proven by data and experimentation.  We should look all around us and see to it that everything in our surroundings encourage and engage the curiousities of our kids.

[joenc]

3 hours ago, MarcoPolo said:

With ninja like moves, and good fortune, it is becoming more certain every day that Charlotte has successfully secured a foothold onto the future landscape of the finance industry.   Over the last 40 years The Queen staked out a kingdom on the existing field of play,  nurturing and hosting some of the behemoths of the banking world, and parlaying  her presence into growth and development for the City.   The spinoffs have changed Charlotte completely and even sparked the energy that eventually placed the City in such a position of prominence on this Forum we all enjoy  

But the banking landscape that supported all this success is changing and changing fast.  Tremors are constant, the precursors of earthquakes to come powerful enough to alter the course of the behemoths themselves.   I have colleagues at many such behemoths, and the guidance they share concerning where the industry may be in 20 years is eye opening.   Suffice it to say, for us skyscraper and urban development enthusiasts, such a  future is one we will want a city with Charlotte's economic profile to avoid.   With one foot firmly planted on the increasingly stable earth of the new finance industry,  the Queen seems well on her way to avoid such a future.  

KJ is right to be excited.  These announcements confirm that banks and institutions, aligned more closely with the Fintech Revolution and its mindset, already recognize the Queen's flag staked alongside her foot on the new field of play.   The ecosystems of complimentary and support businesses this revolution will be bringing with are immense.  They too will look to Charlotte as the banking structures and norms of the past are supplanted by new opportunities.   The Queen is building a new Kingdom and it's one with plenty of fertile land in all directions to expand onto.   For us UP people that means many years to come enjoying announcements of growth and development and skyscrapers.  All that's left is for the Queen to successfully take that last step off the old shaky earth into the future while keeping her balance.  

But, as I've stated before, if Charlotte really wants join the big leagues and secure its destiny for generations to come, the City needs to significantly expand its education presence.   Finance is a lubricant greasing the wheels of commerce and society.   Education builds the wheels.   The growth of UNCC, Queens, CPCC, Davidson, Johnson and Smith, and Wake Forest should be of paramount importance to everyone on this Forum.   Imagine if these institutions had the cache nationally and internationally the trio of Duke, Chapel Hill, NC State have?   It is easy to see how these three Universities impact the Triangle.   There would be no Triangle without them!    Raleigh would be a small southern State Capitol, Durham and Chapel Hill, sleepy communities..... and there would be no Research Park.   Charlotte would have been the undisputed urban center between Washington and Atlanta.  

Cities with solid and recognized institutions of higher learning outrun and outlast those that do not.   I am more excited long term about UNCC's growth, and Wake Forests medical school than any Fintech relocation.   Raising the visibility and quality of all the local Colleges and Universities in Charlotte and marketing them together as a high quality pool of talent is the single most important endeavor the City can undertake for its future.  

Think this is more dependent on what the feds do. 

Biden's budget talked about "Regional innovation hubs. The plan proposes $20 billion go toward creating at least ten “regional innovation hubs” and a “Community Revitalization Fund.” The hubs would “leverage private investment to fuel technology development, link urban and rural economies, and create new businesses in regions beyond the current handful of high-growth centers.” 

A lot of the science/tech infrastructure is where it is because of the National laboratories and institutions created between WW2 and the 60s.

https://www.usnews.com/best-graduate-schools/top-medical-schools/most-research-money-rankings

Duke + UNC are pretty good. I don't think this list changes much from year to year.

Edited May 28, 2021 by joenc

[MarcoPolo]

Joenc, a tolerant Uncle Sam is always helpful, but not needed.   The development of tech/science infrastructure between WW2 and the 60's that you point out, represents a different and separate stage of "the life cycle" so to speak.   Reaping the fruits of these initial investments and discoveries is a different cycle, requiring new actors.   In fact, I would argue Fed involvement actually diminishes prospects for success.   They are the wrong tool for the task at hand.  I've been involved with planning / designing too many "silver bullet" innovation hubs, cities, corridors, clusters......name them what you will, especially overseas for governments and government owned entities that believe only grandiose policy gestures and massive cash infusions will reshape their urban / rural economic paradigms.    They rarely succeed.     Good-ole local and regional fortitude/vision are the tools for success.   After all that's what built the Research Triangle Park.  I was the brainchild of the 3 Universities, who convinced the State Gov't it was a great idea back in the early 60's.  It gained momentum only after local citizen champions and banks jumped on the band wagon.  The rest is history.   

[KJHburg]

this is more the economic development marketing but this series of videos from the Charlotte Regional Business Alliance are good.  Funny a couple of them mentioned like I did the city size not too big not too small the perfect size in their pitches.

Charlotte Regional Business Alliance | Industry Testmonials

Here is the Biz Journal story about this marketing plan

Charlotte Regional Business Alliance unveils ad campaign emphasizing testimonials, connected business community - Charlotte Business Journal (bizjournals.com)

Edited June 10, 2021 by KJHburg

[kermit]

If the Texas power grid continues to be operated at 3rd world levels of reliability (those darned windmills) then we may be about to see the golden age of corporate relocation to NC.

Thanks to James B. Duke, William States Lee, recent solar industry subsidies and all the shutdown furniture and textile mills, a case can be made that we have one of the more robust power grids in the nation.

 

Edited June 14, 2021 by kermit

[KJHburg]

German manufacturer is establishing US headquarters in Gastonia.  Should be customers for nonstop flights to Germany too.

NC Gov. Cooper: German Industrial Automation Company to Build U.S. Headquarters in Gaston County with $7.8 Million Investment

[TheOneRJ]

Potential HQ move to Charlotte by Cedar Fair, the owners of Carowinds. The company currently has a corporate office in Charlotte, which was the original home of the Paramount Parks headquarters located near the park. 
 

The company’s CEO lives in Charlotte while the current HQ is located in Ohio. 
 

https://sanduskyregister.com/news/326540/cedar-fair-belongs-here/

[turbocraig]

That's really  interesting.  The Internet says they have 2200 full time employees at their Sandusky HQ now.  I wonder how many they'd need to relo/hire for if some of those functions are duplicated in their office here already.  As, or more, importantly, that would likely mean a big time upgrade to Carowinds as a flagship park in their portfolio.  We went to Cedar Point two years ago for the first time and it did not disappoint - and expectations were high going in.  It was clear to see why the park is rated as one of the best amusement parks (especially for coaster fanatics) in the world.  It'd be phenomenal if Carowinds were developed to that level.  The economic impact of the boost in tourism numbers would be immense.  People travel from all over the world to Cedar Point, and now having been to Sandusky, I can assure you that's the only reason you'd want to visit.  Here's to hoping this actually happens.

Editing to add links to these two articles in the Sandusky Register over the past week about these developments.  Sounds like Duff Milkie, one of their long time top execs and big Sandusky booster was shown the door by the CEO, who lives here.  And they've been quietly staffing up their office here.  

https://sanduskyregister.com/news/325512/cedar-fair-hq-here-for-how-much-longer/

https://sanduskyregister.com/news/326168/city-wants-sit-down/

 

Edited June 17, 2021 by turbocraig

[U_R_]

Thought I’d share this, but I don’t really know how this would affect the Charlotte area. It seems like Cox has been investing heavily in their automotive and communications branches, so it might lead to more investment in CLT. 
 

“Cox Communications inked a deal to buy the commercial services segment of Segra, a privately-held fiber infrastructure provider based out of Charlotte, North Carolina. Terms of the deal were not disclosed, but Bloomberg sources estimate the deal at about $3 billion. Cox is buying the business segment from the investment company EQT Infrastructure.

Segra’s existing management team will continue to lead the Segra enterprise and carrier organization following the acquisition. It will retain the Segra brand and operate as a stand-alone business within the Cox family of companies.“

https://www.fiercetelecom.com/operators/cox-buys-private-fiber-company-segra

[atlrvr]

https://www.bizjournals.com/charlotte/news/2021/06/18/sports-consulting-firm-headed-to-charlotte.html

Sports marketing and consulting firm moving from San Jose, CA to Charlotte.  No word yet on office location.

[atlrvr]

https://www.wcnc.com/mobile/article/news/local/jobs/gov-cooper-visiting-new-centene-corporation-hq-in-charlotte/275-ce1573c7-8982-4613-bc03-384eb27fe2bc

Not sure what this is if anything, but Gov. Cooper making a speech at new Centene campus at 11am this morning.

[KJHburg]

55 minutes ago, atlrvr said:

https://www.wcnc.com/mobile/article/news/local/jobs/gov-cooper-visiting-new-centene-corporation-hq-in-charlotte/275-ce1573c7-8982-4613-bc03-384eb27fe2bc

Not sure what this is if anything, but Gov. Cooper making a speech at new Centene campus at 11am this morning.

Very interesting indeed.  why would the Governor stop at an uncompleted massive building unless something else was to be announced?  I do think they Centene will move their HQ here one day as  problems in St Louis continue.   

[Blue_Devil]

1 hour ago, KJHburg said:

Very interesting indeed.  why would the Governor stop at an uncompleted massive building unless something else was to be announced?  I do think they Centene will move their HQ here one day as  problems in St Louis continue.   

I will say this, asked my friend last week and he said it is still quite from Centene. I do put that he emphasized from them. I think Centene went quiet on on the STL Chamber of Commerce. But really no news on if they are moving on announcing anything, 

 

Edit: Look at the URL in that Link!!! New Centene Corp HQ? 

Edited June 21, 2021 by Blue_Devil

[turbocraig]

17 minutes ago, Blue_Devil said:

I will say this, asked my friend last week and he said it is still quite from Centene. I do put that he emphasized from them. I think Centene went quiet on on the STL Chamber of Commerce. But really no news on if they are moving on announcing anything, 

 

Edit: Look at the URL in that Link!!! New Centene Corp HQ? 

Well the article does call it their East Coast HQ, so maybe that’s in reference to that.   But if Centene is no longer talking to the STL Chamber, then maybe there’s just nothing left to say.  Maybe they are waiting till today to make an official announcement.  They’ve been incredibly vocal and very public about their unhappiness in STL.  Moreso than just about any other company I can recall that was considering a relo.  I guess we’ll see in a little over an hour.  

[turbocraig]

Or.... maybe it's just this "dedication ceremony".  Probably just a PR "NC continues to attract desirable companies who come for the great quality of life and business-friendly environment..."

https://spectrumlocalnews.com/nc/charlotte/news/2021/06/21/gov--cooper-visiting-queen-city-monday

 

[CLT2014]

It was just a dedication ceremony. Language emphasized Charlotte as the East Coast headquarters, Sacramento as the West Coast headquarters, and St. Louis as the GLOBAL headquarters. 

[KJHburg]

2 hours ago, CLT2014 said:

It was just a dedication ceremony. Language emphasized Charlotte as the East Coast headquarters, Sacramento as the West Coast headquarters, and St. Louis as the GLOBAL headquarters. 

For now at least.  I still think any such Global HQ would not be announced if it does till completion of first phase.

Edited June 21, 2021 by KJHburg

[RANYC]

According to the Business Journal, the CEO was asked about a Centene HQ move to Charlotte:

When asked if Centene would relocate its headquarters entirely to Charlotte, Neidorff said: "Never say never, never say no."

Article also mentions that the building currently under construction is 9 stories, 800,000 square feet, and part of phase 1.

Total campus build-out will be 2.4 million square feet, with phase 2 delivering in 2024.

1000 hired so far.  CEO expects the company to hit the 3000 target for Charlotte's campus in the next 18-24 months.

[KJHburg]

200 new jobs in Fort Mill right over the stateline with Masonite door company.  with all the construction in the Carolinas this is well needed.

Masonite to add 200-plus jobs in Fort Mill as it confirms expansion - Charlotte Business Journal (bizjournals.com)

[turbocraig]

More chitchat about Cedar Fair potentially relocating here from OH (link from an article in the Charlotte Ledger, which I don’t know how to include because I only get the free email newsletter):

https://www.cleveland.com/business/2021/06/is-cedar-fair-slowly-moving-its-headquarters-away-from-sandusky-city-officials-are-concerned.html

[KJHburg]

To me from that Ohio article seems they very concerned about if the HQ moves away from Sandusky if Cedar Point Inc. will invest in the park there.  As long it makes money for them that should not be a problem.  When Cedar Fair bought Paramount Parks they bought a bigger company with more far flung parks am I right?  2 Parks in California, VA, here and other places see link below.  I see this company being HQed here almost like Krispy Kreme which never formally announced it but did it anyway.    Our CLT airport makes it easy to get their far flung parks and easier to attract talent. 

Amusement Park, Water Park & Resort Properties | Cedar Fair