Strong job growth, promising consumer trends, and legislative changes which occurred in Q1 2017 have all served to fuel further optimism in the industrial property market. While every new Presidential administration creates some uncertainty as markets attempt to discern the effects of new policies, President Trump has prioritized restructuring both trade agreements and tax policy in favor of US firms, with the intent of making the U.S. a more competitive location for businesses. On a local level, the repeal of North Carolina’s HB2 is expected to spur additional job announcements and expansion plans that were halted by companies who took issue with the controversial bill. In March, the Consumer Confidence Index surged to its highest level in more than 16 years (125.6 per The Conference Board), which has led to speculation that consumer spending may rise, potentially an early indicator of rising industrial property demand. The US added, on average, 178,000 new jobs per month in Q1 2017; up from 148,000 per month in Q4 2016. Despite a tumultuous 2016 from a public relations perspective, NC was recently recognized as the winner of Site Selection Magazine’s Prosperity Cup – topping the list of the most attractive states for corporate expansion and relocation.
Source : Cushman & Wakefield