Columbia Economic Notes

[Spartan]

I think the Beach Company is working on it right now...someone correct me if I'm wrong.

<{POST_SNAPBACK}>

You're right... CanalSide is just, well, stagnated it seems. At the rate its going now I think the Bull St project might be completed before Canalside is even started.

[Spartan]

I moved the posts concerning Canalside here

I moved the Village at Riverwalk and gated communities posts here.

I moved the posts on FC wanting to destroy the Brennan building here

[Spartan]

Please consider whether a topic needs to be in this thread or needs its own. This thread is for new developments/projects/construction etc. in the Columbia area. Large ones like Bull St, Canalside and the RC have their own threads.

[krazeeboi]

I wonder what's the dollar figure on all of these projects and developments proposed/approved/under construction in Columbia...

[The_sandlapper]

Anybody seen this article in the paper this past week about vacancy rates in DT Columbia. Class A office space is being built along with residential developments for DT and the Vista.

Office space in DT Columbia

[Spartan]

So the occupancy rate is up? The article never did say exactly... still an interesting read

[vicupstate]

National Homebuilder leaving Cola nad Gville for greener pastures

I don't want to make too much of this company moving, I have never liked these national cookie-cutter builders. But it is a reminder that while we see the growth in our own cities, is that growth really on par with other areas? Put another way, has SC really kept pace with the changing global economy? Are ICAR and the USC Research Campus too little, too late? The consolidation of the insurance and banking industries along with the flight of manufacturing offshore have certainly had effects. Thoughts, opinions?

If nothing else, will the departure of these builders raise the price of new homes via less competittion?

[The_sandlapper]

National Homebuilder leaving Cola nad Gville for greener pastures

I don't want to make too much of this company moving, I have never liked these national cookie-cutter builders.  But it is a reminder that while we see the growth in our own cities, is that growth really on par with other areas?  Put another way, has SC really kept pace with the changing global economy?  Are ICAR and the USC Research Campus too little, too late?  The consolidation of the insurance and banking industries along with the flight of manufacturing offshore have certainly had effects.  Thoughts, opinions?

If nothing else, will the departure of these builders raise the price of new homes via less competittion?

<{POST_SNAPBACK}>

I've often wondered myself if these projects (Research Campus, & ICAR) were too little too late? I think one thing that could work for them is the fact that they are apecializing in one unique area that hasn't recieved alot of attention unlike the biotech craze. But that could be a bad thing as well specializing putting all your eggs in one basket deal. SC just really needs to be aggressive with this and get the word out there but that is of course is gonna take money and I don't believe there is any city in SC that can fund that, it's gonna take the whole state. JMO.

[krazeeboi]

National Homebuilder leaving Cola nad Gville for greener pastures

I don't want to make too much of this company moving, I have never liked these national cookie-cutter builders.  But it is a reminder that while we see the growth in our own cities, is that growth really on par with other areas?  Put another way, has SC really kept pace with the changing global economy?  Are ICAR and the USC Research Campus too little, too late?  The consolidation of the insurance and banking industries along with the flight of manufacturing offshore have certainly had effects.  Thoughts, opinions?

If nothing else, will the departure of these builders raise the price of new homes via less competittion?

<{POST_SNAPBACK}>

I don't want to trivialize this, but really I don't see it as a code red situation. As I've said elsewhere, the Columbia area (as well as the Greenville area) has been exeperiencing steady growth, but has not yet had a "boom." I do believe that the growth in our major cities is pretty much on par with that of similarly sized metros (as least in the South). We know that SC lags behind in the national income average area, so given that, we know that we have our work cut out for us, and while we work to rectify that situation, stuff like this will occur.

Personally, I do not think that ICAR and the USC Research Campus are a day late and a dollar short. Sure, we should have had a plan in place to keep up with the changing economy years ago, but there's nothing we can do about that now. As far as the research campus is concerned, the good thing about that is that although the emphasis is on hydrogen fuel cell technology, there are other components to this project: public health, nanotechnology, biotechnology, etc. At any rate, it's better than just sitting on our behinds while every other state in the Union surpasses us economically. I personally do not think that so much would be invested into these projects if they weren't reasonably promising prospects.

The sky isn't falling, you guys. It will take some time, but SC will get there.

[Spartan]

The word is that biotechnology, nanotechnology, hydrogen fuel cells, and Geographic Information Systems (GIS) are the next big things (meaning jobs). They are all relatively new fields, with lots of room to grow. Columbia is getting on board at a great time. USC already has a nationally recognized GIS program, as well as strong fuel cell and nanotech program. I am not sure about biotech, but it cant be lagging much. USC and Columbia have it timed just right.

[waccamatt]

National Homebuilder leaving Cola nad Gville for greener pastures

I don't want to make too much of this company moving, I have never liked these national cookie-cutter builders.

Edited July 31, 2005 by waccamatt

[Spartan]

True. Tourism is not a stable enough economic engine on its own.

[krazeeboi]

This is an article from the Charlotte Observer that I believe puts it all in perspective (check out bugmenot.com to get around registration). Here are some key excerpts:

The university in 2002 landed the designation of being the only center for fuel-cell research sponsored by the National Science Foundation.

Besides hydrogen, USC also is focusing on research in the fields of health, the environment and nanotechnology...It is in fuel-cell research, however, that the university is the furthest advanced, and in which it sees the greatest economic potential.

As South Carolina's traditional base in manufacturing continues to shrink, government and business leaders say it is vital to find new sources of economic wealth. Columbia Mayor Bob Coble said USC's venture into hydrogen research is "the only opportunity in our lifetime to transform our economy by creating jobs and raising the per capita income."

Also, it was mentioned that although a lot of comparisons are being made with what Austin did about 20 years ago and Columbia's future niche in hydrogen fuel-cell research, there are significant differences. The computer companies back then were already on their feet economically speaking, whereas the hydrogen industry is still in its infancy. Also, an article in Scientific American magazine said last year, "Fuel cell cars ... are expected on about the same schedule as NASA's manned trip to Mars and have about the same level of likelihood." And of course, the major hurdle to get over is cost, as well as hydrogen production and storage. Experts say the most likely commercial uses for hydrogen fuel cells in the near future are in small devices such as laptop computers.

[The_sandlapper]

That's a good read now maybe people in CLT will realize there is a living breathing city about 80 miles south of it. Just kidding.

The article brings out some interesting points but I think it comes short of missing the bigger picture is that SC is moving away from the low-end base of jobs and is trying to create its own path in the "new" economy. I'm sure it may be awhile before we see the first "hydrogen only" powered car ready for mass production, but the point is it is setting up groundwork for this technology. Meaning that if feul cells are only going into laptops for now then that's great somebody has to develop research for it, somebody's got to build those computers, etc.

Edited August 1, 2005 by The_sandlapper

[krazeeboi]

That's a good read now maybe people in CLT will realize there is a living breathing city about 80 miles south of it.

Forget it.

[waccamatt]

Forget it.

<{POST_SNAPBACK}>

Seriously, North Carolinians tend to be very arrogant regarding their Southern neighbors.

[krazeeboi]

Yeah, some of them do, I must admit.

[Spartan]

Indeed that is true, but I think that is another subject for another day.

[krazeeboi]

City proposes greenway bypass

Since the land dispute with the Guignard family has been so time-consuming, the city is planning to reroute a large section of the Three Rivers Greenway. Most of it runs down the west side of Huger Street, and this will encompass a $1 million streetscaping. City officials are hoping this will only be a temporary solution until the dispute is resolved, but the Huger Street improvements will go on as planned in any case.

[Spartan]

They ought to end up with two routes. Having that could encourage people to cross Huger on foot (if any residential development is even located there) and if that land is ever developed they could incorporate it into the design. I think its a great idea.

[vicupstate]

My guesss is the city is bluffing in an attempt to get the Guignards back to the table. Similiar to the effort to build a new arena for and Ice Hockey team. I can't see streetscaping one side of a street. There are better ways to spend $1mm, IMO.

[krazeeboi]

Seems as though Columbia is infatuated with streetscapings.

[Charleston native]

Y'all, South Carolina's history has ALWAYS been one of "too little, too late". Our state legislature is one of the worst in the country and until things change at the top, we will continue to be one of the poorest states in the country. They need to start with loosening annexation laws so that our cities can grow...

<{POST_SNAPBACK}>

Man, you are right on the money with this observation. Many times, it seems like our other Southern state neighbors such as GA, NC, and FL are leaving our state in the dust!

Edited August 8, 2005 by Charleston native

[The_sandlapper]

It seems they have been for years, while SC is perfectlly content on the chasing its own tail approach to getting stuff done.

[krazeeboi]

Here's a good article in The State concerning the work South Carolina has to put in in order to make a successful venture out of hydrogen research in the state.

S.C. has work to do in hydrogen fuel field

There's also an addendum which outlines other states' efforts to establish themselves in this field as well.