The Piedmont Triad market showed signs of life in 2014, with more good news expected in 2015. Over $1 Billion in transportation projects have been approved for the area, and the new infrastructure will result in job growth and economic development opportunities.
Piedmont Triad International Airport is in the center of the region, and has seen tremendous growth in its aviation cluster. Honda Jet is beginning production of its four passenger business jet. It has already completed a maintenance facility and is underway with a $74 million expansion of its corporate headquarters, which now employs 1200 at PTIA. TIMCO is now HAECO, and employs 2000 workers on its aircraft maintenance facilities at PTIA. Combined with a new $50 million bridge over I-73 to 700 acres of undeveloped land, the Airport will continue to see strong growth.
Winston-Salem’s downtown is emerging as a strong business center, with recent announcements of a new $100 million Wake Forest Baptist medical school, renovation of the historic RJR headquarters into a boutique hotel and apartments, and Inmar’s continued office expansion. Numerous restaurants and shops are locating in the downtown area, making Winston-Salem an attractive place to live, work and play.
Greensboro is also experiencing tremendous growth in its center city. The $65 million Steven Tanger Performing Arts Center will begin construction in summer 2015. The $10 million LeBauer Park, located next to the PAC, is already under way. These facilities, combined with Center City Park, will give Greensboro’s downtown an unprecedented level of amenities for a city of 280,000. Developer Roy Carroll has also announced a Hyatt Place Hotel along with 300 upscale apartment units next to the NewBridge Bank Park on Elm-Eugene Street. Union Square Campus will anchor the south side of downtown, with the first building starting in March, 2015 housing a training facility for UNC-G, NC A&T, and GTCC’s students being trained for jobs at Cone Health.
High Point continues to move forward with expansion of the International Home Furnishings Market, an event that attracts 100,000 buyers from all over the world to the Furniture City. Combined with record growth at High Point University, and a 1 million sq. ft. warehouse facility for Polo, High Point is poised for record growth in 2014.
Burlington also was also successful in luring warehousing facilities for Wal-Mart and Sheetz to Alamance County.
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