Archive for the 'Business' Category
Raleigh, North Carolina’s capitol city, has been proving its commitment to downtown revitalization for many years now, making the area more attractive than ever to citizens and visitors seeking dining, entertainment, convention facilities, shopping and public transportation. With the addition of amenities such as the new convention center, City Market dining and retail spaces, auto-friendly Fayetteville Street (the main thoroughfare), a new city bus terminal, and new parking facilities, to name just a few, “downtown” has become a destination of choice for business and pleasure.
In July, a new project called City Plaza was begun, as heralded by the unveiling of four 55-foot stainless-steel light towers built at the south end of Fayetteville Street. City Plaza, scheduled for completion in October 2009, is designed to host everything from a restful retreat for tired feet, to concerts and other public events. In addition, four glass enclosed pavilions will be built on the plaza to showcase an array of retail shops and eateries.
Contributing to the appeal of the plaza will be a motion-sensitive water fountain some describe as a miniature version of the famous waterworks at the Bellagio Hotel in Las Vegas. Several other art projects are planned, which include interactive LED panels displaying an array of pre-programmed images, and pedestals for an annually rotating schedule of sculptures.
For more information visit the Raleigh web site…
The University of North Carolina at Chapel Hill has cleared an important hurdle in its efforts to establish a satellite campus. This week, after ten months of negotiations and almost twenty years since planning began, the UNC-CH Board of Trustees and the Town Council of Chapel Hill reached agreement concerning development of Carolina North. The new site is intended to facilitate the expansion of the law school, classroom and research facilities, student and faculty housing, and other university activities.
While the development agreement is bound by state law to a twenty year window, it is expected to protect 700 acres in Chapel Hill and Carrboro from changes that could adversely affect traffic and recreation in the area far into the future. Over the next fifty years, the university plans to build about 8 million square feet on 228 acres, while protecting 300 acres from development permanently.
The space left behind by the tobacco industry in downtown Durham, North Carolina has lately been some of the most desirable commercial real estate in the Research Triangle area. According to Karnes Research, while office vacancy Triangle-wide rose to a four-year high of 15.4% at the end of March, downtown Durham has seen vacancy drop significantly from 16.1% in Q1 ‘08 to 10.8% in Q1 ‘09. Over the past several years, the City of Durham has invested at least $1.2 billion in infrastructure and amenities such as parking decks, a new performing arts center, transportation depots, a central park and street improvements. The city has also offered incentives to companies considering a move to Durham. The outlook for success is becoming brighter all the time as development of the historic district continues to draw commitments from the business community.
Case in point, today The American Tobacco District became the new home of The Law Offices of James Scott Farrin. The firm is moving 100 employees from Imperial Center, near Reasearch Triangle Park, to Durham’s Diamond View II office building. The new location is close to many of the city’s downtown attractions, and is just beyond the outfield wall at the Durham Bulls Athletic Park. The office’s proximity to the Durham County courthouse, as well as dining and leisure activities in the renovated historic district, provides a strategic advantage in attracting and entertaining the company’s clients.
Another recent arrival to downtown Durham is Burt’s Bees, a maker of natural beauty products. The company doubled its foot print last month by moving from Keystone Park, near RTP, to 61,040 square feet at the American Tobacco Historic District. In a more gradual move, Duke University has been expanding it’s center-city presence by 68%, filling 200,000 square feet of office space over the past 18 months.
The Raleigh News & Observer reports today that the state legislature is very close to offering Apple Computer the right incentives to open an East Coast operations hub in North Carolina. The bill, which has passed the senate and is one vote short in the house at this time, offers a generous tax structure intended to compete strongly with Virginia, also a candidate for Apple’s business.
According to the N&O report, the company’s hub would serve as a data center, where services such as the iTunes music store and the iPhone application store would be based. When it opens, about 50 Apple employees will man the site, along with an estimated 250 contractors. The N&O adds that, “The facility could grow to employ more as its mission expands.”
Proponents of the incentives bill are willing to extend the tax deal to Apple because it is a major company, and they see the seeds of long term growth for the company and ongoing benefits to the North Carolina economy. However, some oppose the plan, concerned that many businesses already operating here lack the advantages the state’s economic development programs provide to newcomers. In this case, the language in the bill applies the new tax structure to Apple alone, a benefit not broadly enough scoped for some lawmakers and business leaders.
House minority leader Rep.Skip Stam wonders if the incentives factor into Apple’s decision at all, as North Carolina is already regarded as one of the most desirable locations in the country for high tech super-companies. The biggest names in computers, energy, pharmaceuticals and biotech call North Carolina home, and include IBM, Progress Energy, Duke Energy and GlaxoSmithKline to name a few. Four major universities also contribute to the state’s brain trust and work force, with N.C. State University in Raleigh, The University of North Carolina based at Chapel Hill, Duke University in Durham, and Wake Forest University in Winston-Salem.
Need a resource for information about how to care for your lawn? A web site published by North Carolina State University in Raleigh may have what you’re looking for.
The TurfFiles web site contains up to date information from experts in several departments at the university, including Crop Science, Entomology, Horticulture, Plant Pathology, and Soil Science. The site features several helpful tools, such as keyword search, information sheets, and interactive decision aids. In addition, timely reporting on topics like current weather factors, pest activity, and new products and methods will keep homeowners and professionals on top of their game.
While the content is primarily targeted toward turf issues in North Carolina, the contributors hope to be of help beyond the state’s borders. Certainly, residents of Raleigh, Durham, Chapel Hill and the greater Research Triangle Area will find a wealth of information to help guide them in planting and maintaining healthy, beautiful lawns in our local conditions.
Visit the TurfFiles Web Site at North Carolina State University…
Bayer CropScience has announced that it will proceed with plans to open the Plant Biotechnology Research center in the Research Triangle area of North Carolina. The research center will be located in the western Wake County city of Morrisville, in close proximity to the Research Triangle Park and the Raleigh-Durham International Airport.
Over the course of the next five years more than $10 million will be invested in the research center and about 130 new jobs will be created. The new site is scheduled to be operational in the fall of this year, and will contribute to an already very successful program of improving crop quality and stabilizing crop yields in the United States. The state of North Carolina will support the project with a multi-year incentive plan to facilitate the development of the center. Incentives will be linked to the company’s performance in meeting targets for employment and other factors.
President and CEO of U.S. subsidiary Bayer CropScience LP, Bill Buckner, recently underscored Bayer’s strong roots in the state, and its desire to expand in the region, citing agricultural innovation and an extremely qualified workforce as powerful assets.
In the March 25, 2009 issue, Forbes Magazine ranked Raleigh #1 among its Best Places for Business and Careers. This good news was attributed to “the strength of strong job growth (both past and projected), low business costs and a highly educated workforce.”
These factors and a low manufacturing base continue to bode well for ongoing economic stability, contibuting to a forecast of 1.4% employment growth over the next three years. In addition, the presence of the University of North Carolina, North Carolina State University and Duke University is a powerful attracting force for major employers seeking to relocate for lower business costs, access to hotbeds of research and world class medicine.
The article does not mention the lifestyle benefits of living in North Carolina, however. The region’s commitment to transportation, recreation and cultural development is also noteworthy. A growing number of greenways, state and local parks, the proximity to mountain and coastal attractions, and top-tier college and professional sports (including Carolina Panthers football, Stanley Cup Champion Carolina Hurricanes hockey, and three Atlantic Coast Conference schools), as well as museums and theater venues hosting international exhibits and performances, reflect the continuing effort to satisfy the most demanding tastes and interests of the population.
Site Selection magazine ranks North Carolina at the top for having the most favorable business climate in the United States. This is the fourth straight year the economic development publication has picked North Carolina for its No. 1 spot.
Site Selection surveys corporate site selection executives and measures new plant activity. The executives mentioned North Carolina’s incentives programs and low taxes, while new plant activity in the past year included construction by Spirit AeroSystems and GE Hitachi.