Job Recovery

August 6, 2010

In a recent report by the NAI Global national economist, Dr. Peter Linneman, he stated all major industries except for the information sector have registered employment gains.  He noted, “Aside from the government sector (591,000), the largest absolute job increases were in professional and business services (314,000), manufacturing (108,000), leisure and hospitality (95,000), and trade, transportation, and utilities (74,000)”.

In our market, the Raleigh-Cary metropolitan area gained 22,100 private-sector jobs between June 2005 and June 2010, the fifth best total among the 100 largest US metros according to the US Bureau of Labor Statistics.  This was the biggest job gain of any metropolitan statistical area outside of Texas.  Eighty-four major markets suffered declines in private-sector employment during the half-decade, while only 16 finished on the upside as reported by the Triangle Business Journal.

Just this week, additional positive job growth news included Caterpillar’s plans to expand its manufacturing facility in Lee County adding 325 jobs to its operations in Sanford over the next four years.    A Caterpillar supplier is also expected to locate 160 workers at the Sanford site bringing the expansion’s job total to 485 new positions.  Triangle Business Journal reported Caterpillar was offered almost $5 million in economic incentive grants from state and local governments to pick Sanford over a competing site in Florence, South Carolina.

Jake Plotkin, Broker, NAI Carolantic Realty, jplotkin@naicarolantic.com

I think you would agree we live in a unique area.  We have an educated workforce, a strong housing market, low cost of living and a high quality of life.  These traits are just a few reasons why Wake County has experienced such strong job growth since 2005 (rated #5 by Manpower out of all US Cities).

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Job Creation Planned-Economic Growth Predicted

June 18, 2010

According to Manpower’s quarterly employment outlook survey, 19% of employers in the Raleigh-Cary area plan to hire new staff.  Jobs in construction, goods manufacturing, transportation and utilities, education and health services, leisure/hospitality and government are the top areas for growth.  John Connaughton, a prominent economist for UNC Charlotte predicts output increases in nine of the state’s eleven economic sections combining for a total of 2.2% overall growth by the end of 2010.  This would be the first sustained positive growth in two years according to the Triangle Business Journal.

Internationally, according to the Wells Fargo Securities Economics Group, most countries reported positive GDP growth in the first quarter.  The report stated, “Recent monthly indicators suggest that global economic activity has continued to expand.  Although China may be slowing from the super-charged pace of growth earlier this year, the Chinese economy still has plenty of momentum behind it.  Moreover, recent monthly data from Japan, Korea and Taiwan indicate that the expansion in Asia, which began about a year ago, remains intact.”  

Scott Hadley, Broker, NAI Carolantic Realty

With over 325 offices worldwide, including China, Taiwan and Korea, we can help you there or here at home with a market analysis of your real estate position.  Please give us a call at 919-832-0594 or send us an email at questions@naicarolantic.com.  We look forward to an opportunity to be of service.


Turning the Corner

April 21, 2010

Jim Adams, Broker, NAI Carolantic, jadams@naicarolantic.com

As NAI Carolantic continues its commitment to tracking the information that will best help its clients make informed business decisions, positive signs are emerging that bode well for the future of the market on micro and macro levels.

In the April 19th issue of Business Week, staff writer Mike Dorning contradicted the polls with hard evidence of a national economic recovery.  Among other things Dorning mentioned that manufacturing has been recovering for eight straight months, and that economists are revising GDP growth forecasts for 2010 from 2.1% to 3%.  While recovery remains slow without a new driver for the economy, it seems that in spite of the recession woes and psychology, the indicators for a favorable return on a national level are present.

Locally, our region continues to receive positive national press with high rankings in various studies.  Raleigh-Cary was recently named as the ‘Third Best Place in the Country for Business and Careers’ by Forbes.com and Durham metro ranked 23rd.  The study ranked the 200 largest metropolitan statistical areas on cost of doing business; educational attainment; and economic, income, job and population growth. 

There are also tangible signs that the Triangle economy is on the rebound.  While liquidity from debt sources remains in short supply and underwriting stringent, at NAI Carolantic we are working with many well capitalized buyers that are seeking buy opportunities either with no debt or with a low debt to cost ratio.  As the economy continues to improve, banks and other lending institutions predict that current lending restraints will ease…a process that appears to already be underway.


Understanding Municipalities

March 22, 2010

Understanding municipalities is a very important job for a commercial real estate broker.  I just had the honor of graduating from the Town of Cary’s School of Government.  It was an eight week study of how the Town functions and operates.  We spent a great deal of time learning about planning and infrastructure, which is invaluable information to know when working with those who want to do business in Cary.  We also learned about the approvals process  and how projects are taken from conception to finished product.  Knowing how to navigate the sometimes complicated world of entitlements will save my clients money and help them reach their goal. 

Kyle Greer, Broker with NAI Carolantic

I would highly recommend the School of Government to anyone interested in becoming more involved in their communities.  It’s a wonderful place to meet some great people and learn more about how our towns operate.


3.52 Acre Site Near Cary Towne Center

March 2, 2010

NAI Carolantic has recently been given the opportunity list a 3.52 acre site near Cary Towne Center just off Cary Towne Boulevard, and less than .3 mile from I-40.  The property is located at a signalized intersection and would be ideal for an office, retail, bank or restaurant user.  Based on 2007 information, the traffic count is 17,000 vehicles per day.  The average household income within a three-mile radius is $80,639.  For additional information, please contact Moss Withers at 919.832.0594 or mwithers@naicarolantic.com.  We look forward to an opportunity to discuss this property with you.