Blog

Fed Raises Interest Rates
The Federal Reserve raised its key interest rate on Wednesday from a range of 0 to 0.25 percent to a range of 0.25 percent to 0.5 percent. The rate hike is a small one, but it will affect millions of Americans, including investors, home buyers and savers.

Hiring Surge Expected in 2016
A surge in hiring could push the U.S. unemployment rate "below 4 percent," something not since 2000 as companies gear up for business growth in 2016, says Duke University in its latest economic forecast.

The Economic impact of WCPSS
How does the Wake County Public School System impact the local economy? Check out this study from N.C. State University Reynolds Distinguished Professor Michael Walden.

A Victory 10 Years in the Making
The federal FAST transportation funding act clarifies the high priority corridor routing for the Raleigh-Norfolk corridor via Rocky Mount, Williamston, and Elizabeth City, and formally authorizes the future Interstate designation for the entire corridor from Raleigh to coastal Virginia.

U.S. Reauthorizes Export-Import Bank
Supporting American jobs by renewing the Export-Import Bank’s authority has been a key priority for the Greater Raleigh Chamber. The recently passed FAST Act reauthorizes the bank’s expired charter until 2019.

BBC Report: RDU among 10 best U.S. airports
The Raleigh-Durham International Airport is one of the 10 favorite U.S. airports for travelers from the U.K., according to a recent BBC report.

5 Career Lessons from Han Solo
From roguish smuggler to galactic hero, Han Solo has had quite a career. Here are five lessons you can learn from everyone’s favorite scruffy-looking nerf herder.

This blog was originally published by the Regional Transportation Alliance on Dec. 12. Read the original here.




By Joe Milazzo II, PE
Executive Director
Regional Transportation Alliance




The Regional Transportation Alliance business coalition has been at the forefront of a decade-long push to authorize a new Interstate freeway corridor from Raleigh to coastal Virginia.

Two years ago this month, we achieved our first taste of victory when Gov. McCrory announced the approval of the future I-495 corridor from Raleigh to Rocky Mount at our 2013 annual meeting. I-495 signs were posted between Raleigh/I-440 and Knightdale/I-540 in spring 2014, along with future I-495 signs between Knightdale and Rocky Mount/I-95.

Earlier this month, President Obama signed the federal “FAST” transportation funding act. That bill clarified the high priority corridor routing for the Raleigh-Norfolk corridor via Rocky Mount, Williamston, and Elizabeth City, and then formally authorized the future Interstate designation for the entire corridor from Raleigh to coastal Virginia.

The future Interstate designation from Raleigh to the Hampton Roads region of Virginia will be I-44, I-50, I-89, I-56, or another suitable two-digit number. Whatever the number, the designation will begin in east Raleigh at or along I-440, and end in coastal Virginia at Chesapeake (at I-64), Norfolk (at I-264), or Virginia Beach (at the end of I-264 at Birdneck Road).

This new authorization by Congress of a future Interstate for the US 64 and 17 corridors between Raleigh, Rocky Mount, Williamston, Elizabeth City, and coastal Virginia sends a clear signal to developers and economic prospects that this corridor’s future is an Interstate freeway.

For Raleigh and the capital area, this authorization will allow our market to get our second two-digit (i.e., primary) Interstate, and that will help with both economic development and tourism.

Given the fact that every county along the corridor east of I-95 has been designated a tier one (most distressed) county by NC Commerce, this authorization could not be more timely in terms of helping to attract future job creators to northeastern North Carolina in addition to our growing Triangle area.

Indeed, for many of these counties, this future Interstate corridor is the only plausible way that they could have Interstate access in the foreseeable future. It will quite literally put them on the map from an economic development standpoint, from eastern Nash County to Camden County at the Virginia border.

Of course, the future Interstate effort alone will not solve all of the economic challenges facing northeastern North Carolina, but it can certainly help, by providing an economic lifeline to counties that need it and link urban, suburban, and rural job centers together.

We have previously called this initiative a bipartisan gift to our children’s future prosperity. With the entire NC Congressional delegation in support of the source bills, along with several members of the VA delegation, it is clearly bipartisan. While it will take many years to fully upgrade the corridor, the future Interstate authorization should make it easier for communities and NCDOT to focus their transportation investments and priorities along the corridor.

As I noted last year, kudos to the bipartisan support at the federal, state, and local level for this initiative. A new Interstate designation will be the next step in a century of investment along the corridor, serving a region whose greatest days are still to come.

Before I forget — the federal FAST bill also includes a future Interstate authorization for the US 70 corridor from Garner to Morehead City.  That corridor, which will be called I-46 or another suitable designation, will travel from I-40 at the Wake/Johnston county line to Morehead City near the state port.

Check out the Regional Transportation Alliance's blog for updates and more.

The passage of H.R. 22, the Fixing America’s Surface Transportation (FAST) Act, revives the U.S. Export-Import Bank and marks a significant victory for the business community.
 
Ex-Im at Risk
For 80 years, Ex-Im has provided vital financing and insurance services to U.S.-based firms that sell to customers abroad.

• More than 3,000 American small businesses rely on Ex-Im to sell their products overseas and compete in the global marketplace
• In the last six years, EXIM has supported 1.3 million jobs
• Since 2007, the bank supported over $2.9 billion in export sales at 200 companies in North Carolina

 
When the bank’s authorization was allowed to lapse earlier this year, it became clear how disadvantaged American companies were without its support. According to the U.S. Chamber of Commerce, over the course of five months, numerous U.S. exporters lost sales and workers lost jobs to their overseas competitors because they were unable to obtain the services provided by Ex-Im.
 
A Top Priority
Supporting American jobs by renewing the Ex-Im Bank’s authority has been a key priority for the Greater Raleigh Chamber. FAST Act reauthorizes the bank’s expired charter until 2019.
 
The U.S. Senate voted 83 to 16 to approve the legislation on Dec. 3, hours after the bill cleared the House of Representatives by a margin of 359 to 65. President Obama signed the five-year, $305 billion bill into law late the next day.
 
The new law calls for spending approximately $205 billion on highways and $48 billion on transit projects over the next five years. Stay tuned for an upcoming blog on what that means for the Triangle region.
 
Learn more about the Export-Import Bank of the United States here.

Chamber Supports Multimodal Approach in Proposed Wake Transit Plan
Yesterday Wake County officials released the proposed Wake County Transit Plan, built upon recommendations from a broad-based, bi-partisan advisory committee that studied the topic for nearly a year.

Job Growth in U.S. Exceeds Forecast
The 211,000 increase in payrolls followed a 298,000 gain in October that was bigger than previously estimated, a Labor Department report showed Friday. The median forecast called for a 200,000 advance.

Triangle’s Hotel Growth Spurt Highlighted
The Triangle's hospitality industry gets a shout-out in trade publication Travel Weekly's "Raleigh-Durham, sharing a hyphen and a hotel growth spurt."

North Hills Breaks Ground on New Tower
North Hills broke ground Monday morning on a fourth high-rise tower on the east side of Six Forks Road. At completion, it will stand 12 stories tall.

Startups Announce Big Funding Numbers
In Q1 and Q2 alone, 85 entrepreneurial companies raised nearly $427 million in North Carolina. Within 24 hours, on Dec. 1 and 2, four companies made funding announcements.

State of Mobility Recap
Nearly 300 regional leaders gathered for the Regional Transportation Alliance’s 14th annual meeting on Dec. 3. Here’s a recap of the event (including the 2015 State of Mobility report and insights from our national keynote speaker Gabe Klein) and an article that appeared in The News & Observer. 

Chamber Welcomes New Staff
Meet the Chamber’s newest staff members: John Reid Sidebotham, project manager for Wake County Economic Development; Brianne Gill, Small Business and Member Services manager; and Lisa Haun, front office coordinator.

 3 Tips to Take the Stress Out of Business Planning
https://www.sba.gov/blogs/3-tips-taking-stress-out-business-planning
Business planning doesn’t have to be a stressful experience if you remember these three tips.

If you liked this recap, make sure you subscribe to the Chamber's e-newsletter to receive this information directly in your inbox each week.

Brianne Gill is the Chamber’s new Small Business and Member Services manager, responsible for C-Suite Perspectives, Chamber Professional Women’s Luncheon, Economic Forecast, and the Women’s Leadership Conference. Brianne is a Raleigh native and proud graduate of North Carolina Central University, where she served as junior and senior class president. Contact Brianne at bgill@raleighchamber.org.

Lisa Haun is the Chamber’s front office coordinator. Lisa has a long history of working with the public, whether as a pre-Kindergarten teacher, administrative assistant, or in retail.  Originally from Connecticut, she and her husband now live in Cary and have enjoyed learning and exploring all there is to do and see in the Raleigh area. Say hi to Lisa when you stop by the Chamber, or email her at lhaun@raleighchamber.org.

John Reid Sidebotham joins Wake County Economic Development as project manager. Prior to joining the Chamber, John Reid worked at Maxpoint Interactive, a technology company based in Morrisville, as an account manager focusing on the Northwest Arkansas and New York accounts. Before that he worked in Washington D.C. at Squared Communications, a boutique public relations and political consulting firm. He graduated from Wake Forest University with a degree in Political Science. Reach him at jrsidebotham@raleighchamber.org.

A full list of Chamber staff members and contact information can be found here.

 Updated: 2 p.m. Dec. 9
Media coverage of the plan:
ABC-11 Eyewitness News (WTVD)
The News & Observer Publishing Co.
Triangle Business Journal
WRAL
WUNC





By Jill Wells Heath
Chair, Chamber Board of Directors
 



Yesterday, Wake County officials released the proposed Wake County Transit Plan, built upon recommendations from a broad-based, bi-partisan advisory committee that studied the topic for nearly a year.
 
A Multimodal Approach
The Chamber applauds the robust process that involved stakeholders from all Wake County municipalities and several public input sessions. We are pleased to see the multimodal approach recommended by the Advisory Committee incorporated in the plan. It includes:

• A significant expansion of bus service
• The creation of bus rapid transit
• Plans for a future regional commuter rail line.

 
The proposed plan benefits all of Wake County and includes both immediate and long-term investments that will provide travel alternatives to increased congestion as our community grows.
 
Going Forward
The Chamber and the Regional Transportation Alliance will continue to engage the business community to develop consensus around the final plan. We encourage all residents to review the recommendations, provide feedback, and keep the conversation going. We look forward to a successful referendum next November.
 
The Chamber views expanded and enhanced transit as an important component for the continued prosperity of our growing community and a top priority in the coming year. 
 
I encourage everyone to get engaged in this community conversation. Check out the plan at www.waketransit.com and share your feedback.

By Mark Helsig
Freeways vice chair, Regional Transportation Alliance
Senior director of business operations, SAS Institute, Inc.

Transportation studies and hearings are not, by their nature, particularly exciting. However, the meetings next week on the Complete 540 freeway project are both exciting and essential — and we need your help to advance the regional business community’s top new freeway priority.

Here is the gist of what you need to know:

• The meetings will be held this coming Monday, Tuesday, and Wednesday (December 7-9)
• You can attend any of the three meetings and offer comments on the Draft Environmental Impact Statement about the importance of the project and your thoughts on the various alternatives
• In fact, you can offer comments without attending a meeting, by sending an email to complete540@ncdot.gov
  

Whether or not you offer feedback in person, your comments should be in writing, and include the following:

• Support for the Complete 540 project. You should first note that we need to complete 540—in particular the section from Holly Springs to I-40/U.S. 70 Clayton Bypass—to provide free-flow mobility during peak periods and throughout the day, relieve overburdened secondary roads from congestion, and enable our region to succeed both now and as we grow (and/or other reasons you wish to convey)
  
• Support for any particularly favorite color alternative or alternatives, and the reasons that you feel that way
• Opposition to any colors alternative(s) that you do not like, and the reasons that you feel that way

Thank you in advance for your help! Public input is always vital, and that is especially the case with this project. Let me or Joe Milazzo II know if you have questions.

This is a re-post of a blog from the Regional Transportation Alliance, a program of the Greater Raleigh Chamber. See the original blog, as well as other, here.

Officials to Unveil Transit Plan Tuesday
Partners and consultants will unveil the recommended Wake County Transit Plan with the public for the first time at an open house from 4 – 8 p.m. Tuesday, Dec. 8. We encourage you to attend and share your thoughts!

Raleigh's Thriving Startup Scene Showcased at Internet Summit
Wake County Economic Development partnered with city of Raleigh to showcase 10 high-growth startups at Internet Summit. The event drew more than 2,500 attendees.

Winterfest Kicks Off Saturday with Tree Lighting Celebration
The Ipreo Raleigh Winterfest returns to City Plaza on Saturday with the mayor’s annual Tree Lighting Celebration Festival, which includes rides, activities, a performance by American Aquarium, and more!

Our State Magazine Features City Portrait of Raleigh
Our State magazine, which is circulated to more than 160,000 subscribers, recently highlighted Raleigh in its “City Portrait” section. “The story of Raleigh unfolds on its streets,” the article begins.

Area Ranks High for Industrial Property Investment
The Raleigh-Durham area is ranked as the ninth-best market for industrial property investment, according to the latest Situs RERC Value vs. Price Index.

New Raleigh City Leaders Sworn In
Raleigh’s newly elected city councilors were sworn in Monday night. The Chamber looks forward to partnering with our municipal leaders!

5 Behaviors of the Most Successful Leaders
How you build individual relationships has a huge impact on your entire team’s performance.

If you liked this recap, make sure you subscribe to the Chamber's e-newsletter to receive this information directly in your inbox each week!