Think Positive

May 25, 2011

Jimmy Barnes, SIOR, President of NAI Carolantic Realty

New figures were recently released by the NC Employment Security Commission which indicated the state added 2,900 nonfarm jobs during April.  In addition, the state’s unemployment rate held steady in April, remaining at 9.7 percent for the second month in a row.  Not tremendous growth, but at least on the positive side especially considering the disastrous job loss we had in 2009.

Along with this news, the North Carolina Department of Commerce released information that it has been working on 149 new projects with 74 actual projects announced.  Over 7,000 jobs have been created with a capital investment of $1.09 billion between January and May, 2011.

We can also celebrate some local good news with the Lenovo announcement on May 20th that it had signed a contract with Affiliated Computer Services, Inc, a Xerox Company, as part of an initiative to expand its Global Services business. The agreement will create approximately 300 new jobs in the Research Triangle region.

Oh, and I congratulate our hometown boy, Scotty McCreery who is a shining light for the Town of Garner and the State of North Carolina.  Way to go Scotty!

Just a few of the reasons why we have a lot to be thankful for living in North Carolina, and specifically the Triangle region.  Please let us know if we can be of assistance to you and your firm.

Advertisements

Maintain Optimism…Jobs Are Returning

October 18, 2010

John Hibbits, Broker, NAI Carolantic Realty, jhibbits@naicarolantic.com

Generally I’m an optimistic guy and this time I don’t have to worry about reality being disconnected from my fantastic view of it.  The numbers speak for themselves when it comes to a recovering market.  

The recent October issue of the Research Triangle Regional Partnership Report was filled with information on job growth for North Carolina and specifically the Triangle region. Among the long list of companies locating or expanding included: EMC Corp., Medicago, Cree, Novo Nordisk, GE, BioCryst, SuperValu, and Siemens.  Job growth is especially strong for alternative energy firms.  According to the North Carolina Sustainable Energy Association, they forecast a 22% increase in jobs this year, and a projected 20% increase for 2011.   

Our area gets great national attention in various publications. Forbes magazine continues to dole out awards to North Carolina, ranking our state as the third best state for business in the US.  That is up two spots from last year.  Forbes indicated the key reasons to be regulatory environment, labor supply and growth prospects. 

According to Federal Bureau of Labor and Statistics, North Carolina is the third best state for declining unemployment and fourth in the nation for job creation. Unemployment is down from 11.1% in January to 9.7% now.  No surprise as Manpower recently ranked the Raleigh-Cary metro area as the number one strongest job market in the nation in September. 

Are we seeing an end to the recession? The Kiplinger report said yes over a month ago.  I remain pragmatically optimistic and look forward to working with you in the future.


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).