GREENVILLE COUNTY, SC -- Fall, 2013
State, Greenville County Exhausting Industrial Space Inventory 
An increase in manufacturing activity has pushed vacancy rates of industrial space in the Upstate lower, and the trend is statewide.

Matrix Spec 3 "We are quickly exhausting the inventory we have of available sites and available buildings," South Carolina Commerce Secretary Bobby Hitt said recently. "That's good news and bad news. But we need to do something about it, and soon."

"Putting pressure on industrial buildings and sites is that companies want to make their move sooner than later," GADC Project Manager Tavia Gaddy notes.  "Many companies that come to us want buildings, not greenfield sites," Gaddy says. "They want to move into available buildings here as quickly as possible."

"With companies moving quicker, it helps to be able to show a client an available building they can use," adds GADC Project Manager Tony Smith. "That presents challenges with vacancy rates of industrial space in the Upstate dropping, according to commercial real estate studies."

Fallout from the recession is causing many developers to reconsider speculative buildings and industrial sites, as are tighter lending rules requiring a developer to have a customer commitment before seeking a construction loan.

"To fuel economic growth and keep the jobs and investment coming, speculative buildings are essential," adds Gaddy.  

"Companies aren't going to wait," she added. "Competitive states are sitting there with shovel-ready sites. We need more spec buildings."  

 

 

Fred Cartwright: "CU-ICAR A Critical Brand For Economic Development."

Fred Cartwright, recently named Executive Director of CU-ICAR, minced no words in addressing the nearly 100 business, education, economic development and governmental leaders gathered at the September 17, 2013 GADC Fall Investor Executive Briefing Breakfast.

"CU-ICAR is an idea that is working to develop new leaders and new ideas in automotive engineering," noted Mr. Cartwright. "It is advancing the state of the art in automotive technology, built on a foundation of people and the necessity of relationships to foster new ideas. CU-ICAR is a critical brand for economic development in the state, the region and for the automotive industry."

Before joining CU-ICAR earlier this year,
Mr. Cartwright spent 30 years with General Motors.  He thanked South Carolina and the global automotive industry for embracing CU-ICAR with open arms, noting the rapid increase in its graduate student base to over 210 this year.  He also highlighted CU-ICAR's $4.4 million in research and sponsored program awards, and a growing partner base of more than 100 organizations today.

He added that CU-ICAR will continue to conduct research that is leading-edge and relevant to the global automotive industry.  Key trends to watch include autonomous (or self-driving) vehicles, light-weighting of materials to improve efficiency without compromising strength, and advanced manufacturing techniques.

For more information on how you can attend future GADC Investor Executive Briefings, contact Kevin Landmesser at 864.235.2008.

 

Leads Remain Good, But Corporate Decisions Taking Longer 

As we head into fourth quarter 2013, the GADC continues to see positive interest in Greenville County for relocations and expansions, with 10+ new leads per month.  In addition, the GADC team continues to aggressively work its pipeline to convert leads to "visitors", and visitors to "in negotiations".  Manufacturing continues to dominate both visiting companies and those in negotiations. 

 

Bobby Hitt As Secretary of Commerce Bobby Hitt has consistently noted, the state continues to benefit from the "BMW Effect", with more than 120 automotive industry suppliers now located in the Upstate region, and others on the way.  With typically half of GADC prospects being automotive or advanced manufacturing related and four automotive announcements already this year, (including The Crown Group's recent announcement) we'd say he is on target.    

 

Looking ahead, inquiries from new companies to the area are growing significantly, while domestic inquiries are moderately stronger than international inquiries.  Major challenges include depletion of available industrial space (see separate story) and companies delaying decisions, as aging reports reflect more cautious, slower-moving decision-making with stronger trends to longer term planning.

About Greenville Area Development Corporation
The Greenville Area Development Corporation is a non-profit organization established by Greenville County Council to promote and enhance the economic growth and development of Greenville County.  Since its founding in 2001, GADC efforts have resulted in the creation of more than 16,500 new jobs and more than $2.8 billion in capital investment in Greenville County.  To learn more, visit www.goGADC.com or call (864) 235-2008.
Jackie Antunes Joins GADC as Intern

 

Jackie Antunes has joined the GADC team as an intern supporting social media marketing efforts.  A Clemson senior majoring in Environmental and Natural Resources with a concentration in Economic Policy, Jackie has previously worked and interned at the South Carolina Aquarium in Charleston, SC where she
helped to implement the aquarium's social media strategies. She currently serves as Assistant Public Relations Chair for her sorority, promoting and publicizing important events throughout the year.
 
Investor Events & Renewal Notes
   
GADC Investors, take note!

The GADC Fall Investor Outing, always a favorite networking event for the GADC Investor group in Greenville County, is being scheduled for late October at the Old Cigar Warehouse.  Watch for your email invitation!

The GADC Holiday Reception is set for December 10, 2013 at The Westin Poinsett Hotel downtown Greenville from 5:00 - 7:30 p.m.  More details will follow.

Renewal notices will soon go out to more than 140 area organizations that are helping to create better jobs and a brighter future for Greenville County by being GADC Investors.
 
100% of GADC Investor contributions support  marketing initiatives. Benefits include:
  • Website listings
  • Participation in GADC events
  • Investor Executive Briefings
  • Directory listings   

New Investors are always welcome.  To be a key member of this Who's Who among Upstate businesses, email Kevin Landmesser or call 864.235.2008.

 

Upstate's Inland Port Set
To Debut 
 
South Carolina's $25 million inland port in Greer is set to open in October says Jim Newsome, President and CEO of the South Carolina State Ports Authority

Data tests have begun using the computers that will track shipments through the inland port, which provides a direct rail link between the Upstate and the state's coast.

Once open, the terminal is expected to eliminate as many as 50,000 truck trips per year on I-26 between Charleston and the Greenville/Spartanburg area.  The terminal is part of $1.3 billion in capital improvements South Carolina's ports will enjoy over the next decade.