Category: North Carolina
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North Carolina Recognized by Business Facilities Magazine 2024 Rankings
Business Facilities magazine ranks states on factors of concern for business seeking to locate a facility or expand their presence. Once again, North Carolina shows its desirability on a number of dimensions. An attractive business climate is good for the future of real estate investments. North Carolina 2024 Rankings external links Business Facilities’ 20th Annual…
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IDEXX Laboratories to invest $147M in Wilson NC
IDEXX Laboratories has announced plans to build a new $147 million manufacturing facility in Wilson, North Carolina, creating 275 new jobs. This facility will focus on producing veterinary diagnostic products, further expanding IDEXX’s global footprint in pet healthcare innovation. The average compensation for the new positions is projected to be $65,873, which is higher than…
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$1.4B Battery Gigafactory for Edgecomb County
Natron Energy to invest $1.4 billion in a sodium-ion battery manufacturing plant at the Kingsboro Megasite in Edgecombe County, North Carolina. This investment is expected to create over 1,000 jobs, with an average wage well above the local median, directly impacting employment in Rocky Mount and surrounding areas. Over a 12-year period, the project is…
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$8.7M Federal Grant for Smoky Hollow Park in Raleigh
Smoky Hollow Park has been in the works for a long time. Situated on the north end of the Glenwood South District, it will have a huge impact on the whole downtown area. It’s great to bring federal dollars to Raleigh. But the bigger economic impact will be continued migration into the city because of…
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Morinaga to Expand Manufacturing in Mebane, NC
Morinaga is expected to expand their investment in Mebane with $136M for a new facility. The company will manufacture their Hi-Chew candy and create 100 new jobs. External resources Morinaga Announces Major Expansion at Orange County SiteHi-Chew candy maker Morinaga creating 200 jobs, building second Orange County factory Doug KlineDoug Kline, PhD, has held income…
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Fayetteville lands $1B Titanium Mill
American Titanium Metal LLC will construct a $1B titanium mill in Fayetteville NC called Project Aero. It is expected to be located on a 200-acre site near the Goodyear Tire & Rubber Co. plant and will create 450 high-paying jobs with an average salary of $120,000 over the next 20 years. The plant aims to…
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Raleigh’s Apartment Market in 2023–2024: Strong Absorption, Soft Rents, Real Opportunities
After dropping 9400 new apartment units onto the market in 2023 with another 8300 expected in 2024, Raleigh is having difficulty this year in absorbing the new units. This has led to flat or lowering rents. We are certainly seeing some apartments in downtown offering incentives such as one or more months of free rent.…
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NC #2 State for Business
CNBC’s Top States for Business 2024 dropped North Carolina from first place last year, to 2nd place this year. It may be that NC is a victim of its own past success, with regards to availability of site-ready pads. According to CNBC, NC rose substantially in “business-friendly” ranking compared to other states, but has dropped…
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Economic Development Outlook for North Carolina: Next 12 Months
June 24, 2024 North Carolina’s Economy is clearly among the best in the US. Below we’ve identified the Top 10 economic development organizations in NC, categorized their focus areas and summarized their outlooks and key initiatives for the coming year. Business Growth and Investment Outlook: Continued growth in high-tech industries, advanced manufacturing, and clean energy.…
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NC’s Economic Diversity
I took this chart from the 2023 Annual report from the EDPNC. These are the number of new or expansion projects in 2023, broken down by industry. Doug KlineDoug Kline, PhD, has held income properties in North Carolina for more than 20 years. He holds a North Carolina broker’s license, and is a member of…