The Good News Report

[atlrvr]

MetLife is leasing 2 more floors in one of its 2 Ballatyne towers, for about 57k more sq ft of office space.  That should accomodated 200-250 more people.  In total, it looks like they have enough space to accomodate about 1,600 people, with the option to lease the remaining space in the second tower.

 

I'm getting anxious over additional announcements after the Jobstober teaser from the Chamber.  They promised multiple announcements.

[cltbwimob]

Owens Corning is building a 110 employee advanced composites plant in Gastonia.  The company will invest $120 million dollars in the factory.

 

http://www.bizjournals.com/charlotte/blog/outside_the_loop/2013/10/owens-corning-to-create-110-jobs-in.html

 

I thoroughly enjoy being able to post manufacturing announcements.

[Niner National]

Owens Corning is building a 110 employee advanced composites plant in Gastonia.  The company will invest $120 million dollars in the factory.

 

http://www.bizjournals.com/charlotte/blog/outside_the_loop/2013/10/owens-corning-to-create-110-jobs-in.html

 

I thoroughly enjoy being able to post manufacturing announcements.

I enjoy seeing them. I'm happy that many companies are starting to invest in manufacturing jobs in the U.S. again.

 

For all the potential negatives of fracking, it is one of the driving factors behind manufacturers bringing jobs back to the U.S. The abundance of cheap gas makes it cheaper for companies to do business here than in many other parts of the world.

[cltbwimob]

Not necessarily jobs announcements, but food for thought.

 

Metro Charlotte's economic growth from 2011-2012 increased by nearly 7% according the Bureau of Economic Analysis, the highest of any of the the major metros in NC.  The area's gross metropolitan product is significantly higher than the GDP of Hungary, and will likely eclipse the GDP of Vietnam in the next year or two.  Also, at the risk of inciting another uproar, Charlotte's GMP was higher than that of Cleveland, Cincinatti, Pittsburgh, Milwaukee, Kansas City, St Louis, and Tampa...seven MLB markets.  Sorry I could not resist.

 

Moving beyond regional macro indicators into national macro indicators- you all have probably been fed the standard line, that China will soon be the world's top economy.  Something you probably do not know is that the top 30 metro area's GMPs (Charlotte is part of this list at number 21) when combined, are actually larger than the entire GDP of China.  These metro areas only account for slightly more than half of the US GDP. 

 

The 30 largest American metro areas (per GMP stats) are the economic powerhouses of our time.

 

http://www.bizjournals.com/bizjournals/on-numbers/scott-thomas/2013/10/gross-metropolitan-product-data-for.html?appSession=815125818309356

 

http://www.bizjournals.com/bizjournals/on-numbers/scott-thomas/2013/10/top-30-us-markets-wield-more.html

Edited October 23, 2013 by cltbwimob

[15895]

So Jobstober seems like such a dud this far (wonder if Gov. Shutdown effected that).

They did announce today though that Flexi - Bogdahn Int'l (inventor of Retractable dog leashes) will open a US HQ in CLT..

[kermit]

The

 

So Jobstober seems like such a dud this far (wonder if Gov. Shutdown effected that).
 

 

The Chamber reports that HUBER+SUHNER will relocate there NA HQ to Charlotte, creating 50 jobs.

 

 

HUBER+SUHNER is a worldwide company that develops and manufactures components and system solutions for electrical and optical transportation of data and energy. The company serves customers in the communication, transportation and industrial markets with cables, connectors, cable systems, antennas and other passive components, relying on its expertise in radio frequency, fiber optics and low frequency technologies.

 

They are based in Switzerland.... time for a Zurich flight?

[atlrvr]

Heard today about a big real estate lease that hasn't been disclosed.  To not upset anything, I'll just call it  200k sq ft singed in the Univ City to a Fortune 500 company located in the Midwest.  I do know for certain it is not a headquarters, but unsure how to characterize the jobs (whether they are corporate back-office jobs or call-center jobs).  None the less, that size lease should be good for about 800 jobs.  I'm pretty certain these jobs will be new to the area, as this company doesn't have any major office space in the Charlotte area that I'm aware of. 

[kickazzz2000]

CB&I (Formerly Shaw Group) electric power engineering division is closing their Phoenix office, and consolidating their Centennial and Moorestown,NJ offices to Uptown Charlotte.

 

 

 

To CB&I’s Power business unit employees:

 

Positioning the Power Business Unit for Growth

 

CB&I is a leader in the power industry. As we continue to focus on growth opportunities, we must implement strategic initiatives to strengthen our performance, build a more collaborative and cohesive team and improve our cost structure. These actions will position us to best serve the needs of our clients and to continue the success of our business unit.

 

During the weeks ahead, we will take steps to establish a center of excellence for CB&I’s Power business unit in Charlotte. We will continue to establish project offices at the point of execution for active major projects, but consolidating to Charlotte will bring our team together, facilitate communications and teamwork, support training and knowledge transfer, provide for better efficiency and substantially lower and stabilize our facilities costs. In short, it will make us more competitive.

 

The actions needed to make this a reality will affect all Power offices, including Charlotte, Canton, Moorestown, Centennial and Phoenix. We will begin by discontinuing Power operations in Phoenix immediately. The Moorestown and Centennial offices will transition ongoing work to Charlotte and close by March 2014. For our Canton office, we will develop and implement a plan to transition that operation during an 18 - 36 month timeframe and will subsequently discontinue operations. 

 

In establishing a Power center of excellence in Charlotte, we will evaluate our existing space against other available alternatives to ensure we have the appropriate environment and the ability to scale for growth.

 

The decision to move forward with this facilities and staffing model was difficult and made only after deliberate and careful consideration. Employees directly impacted by this decision will be able to explore opportunities both within the Power organization and with other CB&I operating groups and business units.

 

Thank you for your support.

 

 

Jeff Lyash

President, Power

 

[cltbwimob]

Dewalt is opening a 250 job production facility near Carowinds.

http://www.bizjournals.com/charlotte/blog/outside_the_loop/2013/11/dewalt-to-bring-250-power.html

[cltbwimob]

So Jobstober seems like such a dud this far (wonder if Gov. Shutdown effected that).

They did announce today though that Flexi - Bogdahn Int'l (inventor of Retractable dog leashes) will open a US HQ in CLT..

One thing that somehow was missed here for jobs toner was the 24 October announcement that Rotech Healthcare is adding 200 jobs in Charlotte.

[atlrvr]

Advent Software, a company that develops software for financial services company, is seeking up to $1.3 million in taxpayer funds to expand its Jacksonville office and create 123 jobs.

 

...

 

That 30,000-square-foot office currently employs 122 people and houses the company's regional headquarters and computer systems design and related services operations.

...

 

As part, it would hire 123 additional full-time jobs with an average wage and benefits of $80,400.

 

...

 

 

The incentives are a "material factor" in the company's decision to expand in Jacksonville, according to the project summary.

The document also says several cities, primarily Charlotte, N.C., are under consideration. Should the company select another city, "employment in the Jacksonville office may be affected."

"The company believes that the other location they are considering has a deeper pool of IT talent and are a more active downtown environment than Jacksonville, which would help them attract and retain more qualified employees in the coming years," the project summary states.

 

 

From the Jacksonville Daily Record....would be a nice win on finance IT jobs....~250 people downtown paying $80k on average.  Hope Charlotte is a serious contender, and not just a stalking horse bid.

[HopHead]

Fairly vague story in the Observer... Looks like there will be about 1,000 jobs and $240M worth of investment coming to Charlotte in the near future. Chamber officials made these comments on Monday. Apparently hundreds of these jobs will come from companies with Chinese ties. 

 

http://www.charlotteobserver.com/2013/11/25/4497285/charlotte-chamber-about-1000-new.html#.UpQjJsSsh8E

[atlrvr]

With that high of a $$$ investment, there must be a pretty large manufacturing component to these announcements.  That's surprising, given this is Charlotte Chamber, so in theory it would be located in Meck Co.  Guessing the manufacturing jobs would be linked to Chinese investment, likely in the energy sector. 

 

Hopefully some financal, engineering, tech, and corp HQ type jobs mixed in there as well.

[Urbanity]

If you read the article carefully it is clear that it is an implied aggregate number (jobs and investment) of announcements to come - not one transformational announcement.    I'm ok with this myself.  

 

I realize that is mentioned already, but just wanted to point that out and underline that as some may feel "where's the big announcement" at times..

Edited November 26, 2013 by Urbanity

[dubone]

This is the inevitable result of trade deficits, USD must come back home, but they area still owned by our trading partners, so it comes in the form of foreign investment and purchase of our assets.  Like when Japanese and Arab interests started coming in buying real estate and companies here and it became part of popular awareness in the 80s and 90s.   Now the Chinese will be doing it, so I'm seeing more articles like FoxConn in PA, and Chinese buying lots of homes in CA.   That's the investment side, they are also doing some conspicuous consumption.

 

So this is really really good for Charlotte if we can obtain that investment, as it repatriates dollars back into our local economy that were siphoned out in the first place by buying Chinese-made products from non-local businesses. 

[rancenc]

Great news for the Salisbury area.    This location is just on the fringes of the downtown areea.

 

http://www.salisburypost.com/article/20131204/SP01/131209886/1023/reality-tv-show-apparel-company-moves-to-salisbury-plans-to-buy-building

[carolinagarnet]

Probably a good move. Bankers and Duck Dynasty t-shirt artists are strange bedfellows.

[kermit]

This is all still in the 'slight possibility' category:

 

The Observer reports tonight that Charlotte is in the running for a new plant producing the Boeing 777x along with Everett (Seattle), Long Beach, Salt Lake City, San Antonio and Charleston. Boeing desires locations that are:

 

 

Adjacent to a major airport, with jet fueling capacity, at least a 9,000-foot runway, and ready access to a rail connection and highways.

 

The new intermodal terminal is actually an interesting kicker for us.

 

While I suspect Everett has the inside track, Boeing's recent history shows that their decision will be driven primarily by incentives, and South Carolina will certainly be willing to pay $$$ for more aerospace manufacturing. However, the CBJ reported today that the 'new and improved' NC Dept of Commerce has targeted aerospace as an emphasis for economic development. While funding and strategy for the new NC Commerce dept remain unclear, I would not be surprised if Commerce pulled out all the stops (and spent all their money) to land an elephant like Boeing.

Edited December 5, 2013 by kermit

[cltbwimob]

^^^Beat me to it...

 

If we were to get any part of this, especially final assembly, it would be a game changer.

[Niner National]

If we land it, it could completely reshape the economy here. Not only would they bring the thousands of jobs cited in the article, but thousands more of their suppliers would locate around them.

 

Not getting my hopes up, but it does seem that we fit the description of their 'ideal location.'

[HopHead]

Now THIS is worth throwing a large amount of state and local incentives at (unlike Chiquita). A Boeing plant with 8,000 high paying jobs in Charlotte would be an absolute game changer for the local and state economy. There is plenty of land around the airport for it, rail/highway connections and we have one of the busiest airports in the country which takes care of a few of the prerequisites... Sounds like we just need the right package of incentives. Won't get my hopes up for it as I agree that the Seattle-area would probably have the inside track. However, given how big of a grand slam this would be, I'm sure sure the state commerce and local politicians will do all they can to land Boeing. 

[ah59396]

Now THIS is worth throwing a large amount of state and local incentives at (unlike Chiquita). A Boeing plant with 8,000 high paying jobs in Charlotte would be an absolute game changer for the local and state economy. There is plenty of land around the airport for it, rail/highway connections and we have one of the busiest airports in the country which takes care of a few of the prerequisites... Sounds like we just need the right package of incentives. Won't get my hopes up for it as I agree that the Seattle-area would probably have the inside track. However, given how big of a grand slam this would be, I'm sure sure the state commerce and local politicians will do all they can to land Boeing. 

 

 

I can't agree more.  Throw everything we've got at them.  

[tozmervo]

nice big ole' plot of land just west of the airport. could also change gaston county's fortunes. 

 

hell, we'll even throw in a garden parkway

Edited December 5, 2013 by tozmervo

[carolinagarnet]

I think voting down the contract was the nail in the coffin to expansion in Everett. Charleston is a big growth area for Boeing, but I've heard concerns about the lack of local engineering and aerospace talent. Of course this is less of a concern since Boeing recruits nationally, but it is still a consideration. The key in my opinion is picking up new congressional districts. The F-35 program for instance, will continue to be produced despite efforts to shut it down. This is precisely because suppliers in 49 states support the production of the jet and nobody wants to be seen as targeting jobs in their districts or states. Boeing would be smart to locate in as many states as possible to shield itself from heavy cuts to government contracts in the future. Of course the 777X is commercial rather than governmental, but the promise of job growth has the potential to create a lot of allies in Congress.

[kermit]

^ The congressional district point is a very good one.

 

The CBJ has a more pessimistic article on Boeing this morning. Unlike the Observer they mention that the plant has requested proposals from 'at least' 15 cities (the original Observer article only mentioned 5). In addition the CBJ focuses on the 'new and improved' NC Commerce's stated policy of job retention over job recruitment combined with its lack of financial resources at the moment.

 

 

Despite the abundant land around Charlotte Douglas International Airport and the $90 million intermodal freight yard opening there next year, the source involved in the talks said there are many questions remaining when it comes to how serious Boeing might be — and how serious Charlotte and North Carolina could be.

 

While we certainly can't compete with Seattle in terms of engineering and skilled manufacturing talent here I suspect that we would be near the top of the list of labor quality in Southern cities. Particularly when you take the significant local defense aerospace community, USair's mechanics and possible labor-force complementarity from Honda Jet in Greensboro. Given the cluster Commerce could easily justify some substantial investment in aerospace worker training programs in community colleges in the western Piedmont.

 

Finally, the unidentified point person in the project appears to be familiar our work here...

 

“We don’t know yet what the company wants,” the person involved in the talks told CBJ Thursday. With the news going public, “everybody in Charlotte is a chief economic developer.”

Edited December 5, 2013 by kermit