Quick-hitting stories update you on Virgin Galactic in Arizona;
Panasonic’s big bet on Kansas; SunZia’s transmission line in the
Southwest; Pharmavite in Ohio; Fair Oaks Foods in Iowa; a16z’s plans to
go virtual but open three new offices; and Toast popping up in
Tennessee.
Multiple speculative building developments are
underway in South Carolina’s northeastern region as a result of
proactive effort from various counties to meet industry needs. Two
speculative buildings are already available, including a 100,000-sq.-ft.
building in Pageland, South Carolina (located a mere 45 minutes outside
of Charlotte) and a county-owned 50,000-sq.-ft. building in Marlboro
County. Construction of a 100,000-sq.-ft. speculative building has
commenced along a CSX-operated rail line in Scranton, South Carolina.
Further north, groundwork began for a 117,000-sq.-ft. speculative
building along I-95 in Florence — just minutes from I-20.
There is no doubt these buildings will not be available for long due to
soaring demand and the region’s ideal location along the East Coast,
located halfway between New York and Miami along the I-95 corridor and
with direct access to the Port of Charleston via Inland Port Dillon. To
learn more, contact NESA at info@nesasc.org or at
843-661-4669.
CONWAY DATA
SNAPSHOT
Map courtesy of IMF
The International Monetary Fund’s World Economic Outlook released this month was
not sanguine. “Our latest forecasts project global growth to remain
unchanged in 2022 at 3.2% and to slow to 2.7% in 2023 — 0.2 percentage
points lower than the July forecast—with a 25% probability that it could
fall below 2%,” writes IMF economic counselor Pierre-Olivier Gourinchas.
“More than a third of the global economy will contract this year or
next, while the three largest economies — the United States, the
European Union, and China — will continue to stall. In short, the worst
is yet to come, and for many people 2023 will feel like a recession.”
As for where GDP growth is occurring, the IMF data show oil-rich Guyana
topping the list as the fastest-growing and Ukraine at the bottom with a
forecast GDP drop of 35%. Other oil-soaked economies such as Saudi
Arabia and Iraq also show dramatic upward spikes. Healthy rises are also
forecast in such places as Ireland (9%), Montenegro (7.2%), Georgia
(9%), Armenia (7%), India (6.8%), Colombia (7.6%), Panama (7.5%) and
Vietnam (7%). Statista’s Katharina Buchholz notes that India is expected
to surpass Japan as Asia’s second-largest economy by 2030. The country
is No. 20 among all countries, and No. 9 among countries with GDPs of
$20 billion or more. Learn more from the IMF’s 186-page World Economic Outlook analysis,
including a special section on the near-term macroeconomic impact of
decarbonization policies. — Adam Bruns
GRESB, the global ESG benchmark for real estate and
infrastructure investments, this week released the results of its 2022
Assessments. “The 2022 real estate benchmark saw the
largest ever growth in total numbers,” said the
Amsterdam-based organization. Oceania continues to lead the
way, with the highest regional average score of 82 in the
Standing Benchmark and 88 in the Development Benchmark,
GRESB said, ascribing slight reductions in performance
improvement scores in energy, GHG emissions, water and waste
reductions to the fact that real estate portfolios returned
to a pre-COVID-19 state of operations. “Globally, the real
estate benchmark grew by 20% in 2022, representing 1,820
listed and non-listed portfolios across 74 countries and
accounting for approximately USD 6.9 trillion of GAV,” said
Sebastien Roussotte, CEO at GRESB. “We are proud to see the
real estate industry deepen its commitment to ESG
transparency and sustainability and lead the way in creating
a more sustainable future for all.”
PROJECT WATCH
India
Multiple sources report that Google, through a subsidiary named Raiden
Infotech, has signed a 10-year lease for this space at the Adani Data
Centre in Noida. As reported by Data Center Dynamics, the location is
one of several being developed in Noida and beyond by a new JV formed
last year between Adani and EdgeConneX to develop data centers across
India, including 100 MW of capacity in Noida by next year. A recent CBRE
report on India said data centers have welcome $14 billion in investment
there in the past five years, and total investment could reach $20
billion by 2025.
Infectious disease and immunology testing company Eurofins Viracor this
month opened its new laboratory in Lenexa, Kansas, part of the Kansas
City metro area. The new facility will be home to 450 employees— 215
current employees and 235 newly created roles — as the company creates
additional capacity to support growth in biopharma and transplant
diagnostic testing services. Eurofins employs over 61,000 staff across a
network of 940 laboratories in 59 countries.
“X” still marks the spot at BMW Group’s Plant Spartanburg, where the
company yesterday announced a $1.7 billion investment in U.S. operations
to include $1 billion to prepare for the production of electric vehicles
at the company’s existing U.S. manufacturing facility in South Carolina,
and $700 million to build a new high-voltage battery assembly facility
in nearby Woodruff, South Carolina, where Envision AESC will produce the
battery cells. By 2030 BMW Group will build at least six fully electric
models in the U.S., where its Spartanburg plant has produced the
company’s successful X models. “That means the ‘Home of the X’ is also
becoming the ‘Home of the Battery Electric Vehicle,’ ” said BMW Group
Chairman of the Board of Management Oliver Zipse.
