The governors of Kansas and Texas corralled enough projects in 2021
to earn their states a Governor’s Cup — the first ever for one state
and the 10th for the other.
Amid a surge in projects, newcomers surge into the Top 10s across
three population tiers by total projects and total projects per
capita. But perennial leaders still reign.
The Twin Cities up north and Obion County and neighbors down south
reign supreme in this year’s rankings of top metro and micropolitans
areas along the Big Muddy.
Map courtesy of the Joint Center for Housing Studies of Harvard
University
Still waiting for that appliance for your remodeling project? There
seems to be no let-up in the backup. But those shortages might cool
demand just a bit. The Joint Center for Housing Studies of Harvard
University last week released its 2022 projections for national
remodeling spending, which call for average annual growth of 13.8%
across 48 major metro markets.
“Record-breaking home price appreciation, solid home sales, and high
incomes are all contributing to stronger remodeling activity in our
nation’s major metros, especially in the South and West,” said
Sophia Wedeen, a research assistant in the Remodeling Futures Program at the Center.
The largest gains in home improvement spending this year are
projected to occur in Tucson (23%), Riverside-San Bernardino
(21.9%), Phoenix (20.3%), Austin (19.2%), San Antonio (19.1%) and
Las Vegas (17.5%).
Compare and contrast the report’s lists of hot remodeling markets
(including this full dataset in spreadsheet format)
with Site Selection’s Top Metros rankings above. Top 20 performers
in both analyses include Austin, Atlanta, Dallas-Ft. Worth, Houston
and Cincinnati. Another interesting exercise is to compare these top
remodeling hotbeds with the places seeing the most foreclosures in
2021, as reported in the Year-End 2021 U.S. Foreclosure Market Report
recently released by ATTOM. It showed that foreclosure filings were
reported on 151,153 U.S. properties in 2021, down 29% from 2020 and
down 95% from a peak of nearly 2.9 million in 2010, to the lowest
level since tracking began in 2005.
“Although home remodeling is expected to accelerate broadly across
top metros, ongoing shortages and rising costs of labor and building
materials may dampen activity in the coming year,” said Carlos
Martín, project director of the Remodeling Futures Program. “There
will be shifts in local supply chains and the remodeling workforce
as regional economies pull out of the pandemic, and as homeowner
needs and activities change.” — Adam Bruns
Already known for its aerospace cluster in Wichita, Kansas is also
attracting advanced manufacturing activity to lesser-known areas
thanks to its business-friendly state policies and Midwestern work
ethic.
Bosch Corp., the Japanese subsidiary of Robert Bosch GmbH, last week
announced it would make this investment at its new R&D facility and
the Ward Cultural Center. “This is the first time for Bosch
worldwide to participate in a public-private partnership project
that integrates Bosch locations with local facilities and to take an
active role in the creation of a lively local community,” the
company stated. Bosch will relocate its headquarters office from
Shibuya Ward, Tokyo, to the new R&D facility. Construction on the
largest single capital expenditure for the Bosch Group in Japan in
its more than 110-year history is to be completed in September 2024.
“Bosch and the Japanese automotive industry have enjoyed a
longstanding, fruitful partnership since we first started our
operations in Japan in 1911,” said Rolf Najork, member of the board
of management of Robert Bosch GmbH responsible for Japan. “The
establishment of the new R&D facility will strengthen our
cross-divisional development capabilities, allowing us to drive
future mobility together with our local partners.”
Multiple media sources in early February reported just over 200 jobs
(a 17% workforce increase to a staff of 1,140) would be created by
this project to expand Charles River Laboratories’ R&D buildings at
their Elphinstone operation in East Lothian, Scotland, in the
Edinburgh area. The site does vaccine safety and efficacy testing,
among other activities, including for COVID-19 vaccines. The project
is separate from another expansion the company announced in
Cheshire, UK. “We are very much looking forward to opening our
brand-new facilities in autumn 2022,” Geoff Burns, general manager,
Charles River Edinburgh, told Edinburgh Live. “We are committed to
attracting the best and the brightest in the industry, and we
believe this latest investment, along with our minimum salary level
increase, will help set us apart and cement Charles River Edinburgh
as the best place to develop your career in life sciences.” The life
sciences sector in Scotland encompasses more than 37,000 people
working for approximately 700 organizations.
The U.S. Census Bureau’s Business Dynamics Statistics (BDS) in
mid-February released its annual measures of establishment openings
and closings, firm startups and shutdowns, and job creation and
loss, with analysis covering 40 years of data through
2019. The data include compelling findings with regard to
age and size of establishments, with one overall observation: “Young
start-up businesses have been a key driver of economic growth,” the
Census Bureau states, “yet more and more of the American workforce
has become concentrated at older, more mature firms.”
PHOTO OF THE
DAY
Major League Baseball clubs like the Chicago Cubs led by his brother
Tom Ricketts may not be playing ball, but Nebraska Gov. Pete
Ricketts (r.) found time to have a catch on March 1, alongside the
thawing Missouri River in Sioux City, Nebraska, with Kevin Negaard,
executive director of Sunnybrook Community Church in Sioux City,
Iowa. Negaard is playing catch with a different individual until he
reaches 365 as a way to draw awareness to and raise funds for the Miracle League
of Sioux City, whose mission is to provide “recreational
facilities designed for individuals with disabilities to enable
integrated play, promote acceptance and safety, provide positive
experiences, and inspire laughter and joy for participants and their
families.” He began the campaign on January 18 playing catch with
his father at the area’s Miracle Field complex. The day after the
round with Gov. Ricketts he played catch with playing companion No.
44 for the year, Site Selection Managing Editor Adam Bruns.
