Raleigh Chapter August Meeting!
- RPN Speaker Secretary of Commerce Lee Lilley said current priorities of the NC Department of Commerce are: support Western NC Recovery; align economic and workforce development; implement the NC First in Opportunity Strategic Economic Development Plan; strengthen infrastructure and communities; support innovation, start-ups, and small businesses; and cultivate the conditions of prosperity across N.C.
- For western N.C., 70,000 homes were damaged or destroyed. They are helping those who cannot fix their home via FEMA, insurance, or nonprofit assistance. Their efforts are the fastest single-family housing recovery in state history and the fastest in ten years nationwide. Currently, 2500 applications are eligible for the program; they are turning new homes in 85 days, with completion in 2028.
- According to CBNC, N.C. is #1 in Economy, #2 in Business and #3 in Workforce. Growth is in: Advanced Manufacturing, Aerospace, Life Sciences, Technology, and Financial Services. Lilley mentioned wins of JetZero in Greensboro, Jabil in Rowan County, SMBC and Scout Motors in Charlotte, Vulcan Elements in Johnson County, and Toyota Battery in Randolph County.
- C.’s Economic Strategic Development Plan includes: modernize and fortify infrastructure; accelerate economic competitiveness; enhance community well-being; and build a future-ready workforce. While N.C. is the 2nd most rural state in country, it is the 3rd fastest growing state in country since 2020.
- Benji Flanagan with UNC School of Government’s ncIMPACT Initiative suggested an innovative modular home on foundation option for workforce housing; the initiative engaged with Granite Falls to highlight affordable housing models.
- Lee & Associates’ Scott Hadley said many government officials in outlying counties need assistance in handling the growth coming to their communities.
- Secretary Lilley said in the 70s, 90% of infrastructure was paid by the federal government, but the state now takes a bigger role; urbanizing counties need improved infrastructure to meet demands.
- Eric Vernon with Wyrick Robbins noted the water and sewer treatment consolidation between Wake County and City of Raleigh in the 2000s created positive regional organization.
- CE Group’s Mark Ashness noted if the Triangle metro doubles in the next 20 to 30 years, Falls Lake does not have enough watershed to support the area; we should look to Lake Gaston now.
- Wells Fargo’s David Koehler said the Feds will pause in September, and the market is predicting rate increases in the next two years. He sees some activity increasing.
- GFD Management’s Nate Cretalo reported retail is in high demand. His team is working on Plaza West at Western Blvd and Jones Frankin in Raleigh, putting in a 40K SF Grand Asia, transforming with facelift, and uplifting tenants to match neighborhood.
- Nick Leverett of CoStar is hosting a Carolinas multi-family webinar next week. He reported office sector vacancy peaked at 12% and is now down to 10.3% due to smaller leases over last 12 months.
Recent Comments