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Raleigh-Durham : Industrial - Q3 2016

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Raleigh-Durham : Office - Q3 2016

The rate of growth in North Carolina continues to compare favorably to US growth. By way of example, North Carolina’s GDP has grown at a faster rate than the US for the past three years (2013-2015). If North Carolina were considered its own country, its 2015 GDP of $499.5 billion would place the state’s output between that of Sweden and Thailand or 23rd among all nations. Manufacturers make up 21% of NC’s gross product, with Wake County being recognized as one of the best locations for manufacturing growth despite slight statewide net job loss in 2015. Many believe the rise of advanced manufacturing will play a large role in propelling the future industrial growth throughout the Triangle. NC State University will soon act as the southeastern hub for a $140 million Smart Manufacturing Innovation Institute, and is already home to electronics manufacturing institute PowerAmerica. NCSU economist Michael Walden forecasts that unemployment may dip below 4% in 2017 partly due to the impact of these advanced manufacturing jobs and the area’s skilled labor force that is ready to absorb them.

Source : Cushman & Wakefield

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