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Wilmington Economic Development

Rufus

By Rufus
in Wilmington

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Rufus
Rufus

My new NC base (for family, not work lol) is now Wilmington, which has long been a city of interest to me. So, I thought I would start a business section for Wilmington, since it is slowly gaining a t

KJHburg
KJHburg

Wilmington which I get to once a year is booming so it will be good to have someone on the ground there.  And there is a lot more business than tourism there the port, PPD, the fintech, manufacturing

KJHburg
KJHburg

New legal tech company from Brooklyn opening up office in downtown Wilmington with 50 employees.   http://www.wilmingtonbiz.com/technology/2021/07/20/litify_looks_to_downtown_wilmington_for_new_o

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KJHburg Ecumenopolis

KJHburg

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More film production in Wilmington.

2nd article shows some filming around town.  I don't even live there and have seen filming all 3 times I visited in the last year mainly downtown. 

https://portcitydaily.com/arts-and-culture/film/2021/11/26/now-rolling-george-tammy-starts-production-in-wilmington-other-projects-wrap-state-budget-preserves-film-incentive/

https://www.starnewsonline.com/picture-gallery/entertainment/2021/11/26/wilmington-north-carolina-netflix-show-echoes-filming-images-pictures/8750127002/

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KJHburg Ecumenopolis

KJHburg

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Also good when a local fast growing expands their office space.  

""A third-party logistics firm headquartered in Wilmington has secured a foothold in the Mayfaire-area office market on its quest to make sure its expanding employee base has room as it continues to grow.   MegaCorp Logistics added 180 new employees last year, with 130 joining the Wilmington team off Sir Tyler Drive. Another 150 could join the Wilmington office this year, according MegaCorp's owner and CEO Ryan Legg.    The company acts as a middleman between goods producers and trucking carriers; last year it brokered 200,000 loads. It employs 535 between its five locations and brought in $700 million in 2021, up from $50 million a decade ago.   “I don’t see us slowing down,” Legg said recently.   In the spring of 2019, MegaCorp moved into its current HQ building after a major renovation.   Even with about half the employee base currently working remotely, the company has run out of space, with in-person workers jockeying for parking spots. Throughout the pandemic, MegaCorp never stopped hiring, so it now can’t accommodate all of its Wilmington employees in person if they all decided they wanted office space.  ""

http://www.wilmingtonbiz.com/more_news/2022/01/14/megacorp_continues_to_expand_office_footprint_workforce/22754

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KJHburg Ecumenopolis

KJHburg

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1000 new jobs could be coming to Wilmington if all 4 companies pan out.

 Incentive Packages For More Than 1,000 New Jobs Headed To County Board
By Johanna F. Still, posted About 1 hour ago

Wilmington City Council will vote on four economic incentive packages for undisclosed companies totaling a $695,000 commitment at its next meeting, set for March 1. 

Due to a “snafu that occurred during the time of publication of the notice,” city manager Tony Caudle told council at Tuesday evening’s regular council meeting, the four public hearings were held open and continued for two weeks.

Meanwhile, New Hanover County commissioners are slated to vote on the items at their meeting Monday. The county’s total contribution to the four deals will be $1,917,500; combined, both local governments are prepared to commit $2,612,500 to the four companies, which are poised to create 1,064 new full-time jobs. 

 

All four businesses will also receive state funding, Caudle told council Tuesday. A representative of the N.C. Department of Commerce said the department doesn’t discuss conversations or share documentation until the organization makes a public announcement of their site decision. 

For now, state funding for the projects is pending, Caudle said, and the state “reserves to itself the right to make the announcement, so that’s the reason for the cloak-and-dagger on the names of the group.” 

Projects “Clear,” “Buckeye” and “Speed” have pledged to invest a combined $126.2 million in real and personal business property. No similar real and personal business property investment is mentioned for Project Speed.

 

View a breakdown of the four projects below, including the combined city and county local incentive deals:
 

Project  
    

  Local incentives  
    

  Min. new jobs  
    

  Avg. salary  
    

  Property investment

Transit
    

  $500,000
    

  300
    

  $62,000
    

  N/A

Clear
    

  $1,500,000
    

  485
    

  $131,000
    

  $85,200,000

Buckeye
    

  $500,000
    

  204
    

  $113,000
    

  $25,000,000

Speed
    

  $112,500
    

  75
    

  $64,000
    

  $16,000,000

from Wilmington Biz 

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KJHburg Ecumenopolis

KJHburg

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4 big economic development deals in the works for Wilmington that include 3 existing companies promising up to 1000 jobs at high salaries.  I would say the 3 existing companies are very highly likely to come to fruition.  This is great for the Wilmington area.

https://wraltechwire.com/2022/02/21/report-wilmington-region-could-land-4-deals-that-bring-1000-jobs-to-the-county/

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KJHburg Ecumenopolis

KJHburg

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300 new jobs with Wilmington based freight forwarder announced today.

MegaCorp to add 300 employees | WilmingtonBiz

""MegaCorp Logistics plans to hire 300 people in the area after recently being approved for economic development incentives from New Hanover County and the city of Wilmington, officials announced Tuesday.  The third-party logistics firm headquartered in Wilmington plans to add the jobs over the next five years, spurring an $18.9-million payroll impact, according to Wilmington Business Development, which made the announcement.  ""

 

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rancenc City

rancenc

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New industrial park planned for Wilmington.

https://www.wilmingtonbiz.com/real_estate_-_commercial/2022/06/21/company_plans_modern_industrial_park_on_us_421/23353?utm_source=MadMimi&utm_medium=email&utm_content=BREAKING+NEWS%3A+Company+plans+modern+industrial+park+on+U_S_+421&utm_campaign=20220621_m168306819_BREAKING+NEWS%3A+Company+plans+modern+industrial+park+on+U_S_+421&utm_term=Click+for+more_

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rancenc City

rancenc

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Great news for the film industry so far in 2022.  

https://portcitydaily.com/arts-and-culture/2022/07/11/107m-4k-jobs-nc-film-office-reports-numbers-so-far-for-2022/?utm_source=Daily+Headlines+Subscribers+•+Port+City+Daily&utm_campaign=79330fcb19-EMAIL_CAMPAIGN_2018_06_01_03_11_COPY_01&utm_medium=email&utm_term=0_afcb4c5de5-79330fcb19-28667345

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