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While some economists are projecting growth to decelerate as this record setting cycle matures, several meaningful metrics (jobs, confidence, manufacturing, and transportation measures) indicate that the current industrial expansion still has room to run. Several high profile job creation announcements flooded the state following the repeal of HB2, reaffirming confidence in North Carolina’s competitive business environment and reassuring many in North Carolina that feared a lingering reputation associated with the controversial legislation. Especially meaningful to the Triangle industrial market is Sanford’s Pfizer Gene Therapy Manufacturing facility and the prospective Toyota-Mazda plant which is considering several North Carolina sites for production of their electric vehicles. Corporate expansion announcements from high tech chemical manufacturers and robotics firms, who generally require highly educated employees to conduct their operations, affirm the national reputation of RaleighDurham’s highly-skilled workforce. Drivers of industrial growth persisted in Q2 – The Conference Board’s Consumer Confidence Index boasts the highest trailing six-month average since 2000, labor markets remain strong, and wages have continued to rise.
Source : Cushman & Wakefield
