Frankly, I get tired of always hearing “but at least we are in the Triangle….”. But it’s true and that indeed is the positive side here. The Raleigh/Durham area is the ‘strongest’ economy in North Carolina. We have great universities and the business and social environment is by far one of the best in the US. We can build on this mind set.
A high percentage of companies over the last 24 months have struggled with diminishing incomes and are focused on continuing to reduce expenses. There are serious concerns over additional tax burdens both on the local level and federal level. Individuals are faced with job loss, reduced incomes, increasing debt, and increased health care costs. Surely not a time for a tax increase.
Opportunities, however, are plentiful. There’s business to be done. Companies can take advantage of leasing and purchase opportunities. There are plenty of tenant concessions on the leasing side and buying opportunities are available as we’ve seen drops in real estate values up to 35%.
It’s just a sluggish year in our industry. In 2010, we’ll continue to work hard. 2011 will be here before you know it. Let us hear from you.