Intel Intel
Manufacturing the manufacturer.
1) Tech manufacturer Intel is spending $6 to $8 billion to expand its facilities, creating 800 new long-term electronic chip production jobs when they are complete. In the short-term, building the projects is expected to employ at least 6,000 construction workers in Oregon and Arizona.
“This is the best day of my career,” Deanna Palm, executive director of the Greater Hillsboro Chamber of Commerce told the Oregonian newspaper after the announcement was made in October. “When you’ve had such a difficult economy, to have something this phenomenal, an announcement of this magnitude, it’s fabulous to be right here, right now in Hillsboro, [Ore.]”
Construction employment was down by more than a third in Oregon over the past three years, as the state lost 37,500 construction jobs, according to the Oregonian. Intel employs 15,000 in Oregon now, more than any other business. Its Oregon payroll and benefits totaled $1.8 billion in 2009, the newspaper reported.
Arizona’s construction job market will also benefit. Two factories there are slated for upgrades. In Oregon, plans call for upgrades of two Hillsboro research factories and the addition of a third in 2013.
The Troops Exponent
More marines are coming, and so are their kith and kin.
2) By the end of 2011 North Carolina’s Eastern Region population is expected to grow by 65,000 new residents, compliments of the U.S. military’s growth in the seven-county region near Jacksonville, N.C. The actual increase in direct employment at Marine Corps Base Camp Lejeune, Marine Corps Air Station Cherry Point, and New River Air Station is expected to include 12,980 marines, sailors, and U.S. Department of Defense civilians. But there’s also a multiplier effect when they are followed by family, friends, and those who move to the area for other jobs created by the increased population.
“No” to No Grow
Florida voters strike down a proposed constitutional amendment.
3) Florida voters overwhelmingly nixed a proposed constitutional amendment in November that would have required every land plan or change to be approved by local voters.
The Florida HBA, local and state government, and chambers of commerce spent years first fighting to keep Amendment 4 off the ballot and then educating voters on its potential impact. They said it would create an expensive and unwieldy development approval process that would deter business from moving to the state.
The amendment’s proponents, led by Florida Hometown Democracy, gave up the fight after 67 percent of the votes were cast against it.
Switched Tracks
The Railyards in Sacramento has a new owner.
4)The Railyards, a 240-acre infill project in Sacramento, Calif., was bought in a foreclosure sale on the courthouse steps by Inland American Real Estate of Illinois. Inland already held several mortgages on the land that was owned by Thomas Enterprises, a troubled Newnan, Ga.–based developer.
After meeting with Inland, Sacramento’s mayor told the Sacramento Bee newspaper that he is confident the new owner will continue with plans to redevelop the former terminus of the Transcontinental Railroad.
The site is slated to include 12,000 mixed-use high-density housing units, a greenbelt, shopping, restaurants, a transportation hub, and a possible sports arena.
Port to Growth
Hamilton County funds Port of Greater Cincinnati.
5) In an effort to position the Port of Greater Cincinnati as the region’s leading economic development agency, Hamilton County commissioners voted to give the organization $525,000, the Cincinnati Enquirer reported.
The organization needs the support of the city of Cincinnati as well to keep its doors open. It has asked both the city and the county for $600,000 each, up from their usual $350,000 annual allotment, saying it would run out of operating cash by November 2011 without it.
“Intel makes approximately 10 billion transistors per second. Our factories produce the most advanced computer technology in the world and these investments will create capacity for innovation we haven’t yet imagined.” — Brian Krzanich, Intel senior vice president
News You Can Use Builder, with the help of Hanley Wood Market Intelligence, scans news across the nation each month for interesting, informative, and useful items of interest, choosing a handful of the most significant happenings for this Field Report.
For more information on local markets, go to www.builderonline.com/local-markets.
Learn more about markets featured in this article: Atlanta, GA, Greensboro, NC.
