BOOM! A Big Development is Here: But is the Triad Ready?
It's official: many years of hard work on the part of countless individuals and organizations has paid off, and the Triad is celebrating a big win.
Yesterday, startup novel aircraft manufacturer Boom Technologies announced that it's bringing a $500 million assembly operation to the Piedmont Triad International Airport. Their plan is to build the first supersonic passenger plane since the Concorde, creating at least 1,760 jobs in the process. The multi-phase project includes a customer center and hangars for assembly. (Read more)
This announcement, combined with last month's announcement that Toyota Motor company will be bringing a battery manufacturing plant to the area, spells an economic, if not sonic, boom for our area. Counting the additional work they will create in support roles economists are predicting a growth of as many as 12,000 jobs.
However, we are well aware that current housing is not meeting demand, so where can we expect large-scale new home growth? Predictions are that the Toyota facility will drive demand in southeast Guilford, western Alamance, and northern Randolph counties. Communities which are further out might become considerations for commuters, such as Siler City, Pittsboro, and Sanford. Asheboro, Burlington, High Point, and Winston-Salem are all within a comfortable 30-45 minute drive as well.
Read an in depth discussion of the opportunities and challenges facing local housing developers in this article in the Triad Business Journal.