November 2024
The Piedmont Triad is witnessing a wave of expansion projects and an influx of both tourists and new residents, positioning the region for sustained economic growth.
Foster Caviness confirms it will move HQ and expand in Winston-Salem.
What This Means For You: Foster Caviness, a Greensboro-born food company, has announced a significant expansion in Winston-Salem. The company is investing $6.25 million over the next five years to develop a 165,000-square-foot facility at a site previously occupied by another food business. This move will create an estimated 165 jobs.
Toyota Tsusho America expands into Winston-Salem’s Whitaker Park.
What This Means For You: Toyota’s trading and logistics company has bought a new industrial building in Winston-Salem to use for recycling and waste handling at the company’s battery plant under construction southeast of Greensboro. The Winston-Salem project is expected to generate 39 new jobs over five years, fostering further industrial growth and opportunities within the area. Toyota North Carolina’s battery manufacturing plant is set to become the largest economic development project in North Carolina’s history, with a $14 billion investment and the creation of over 5,100 jobs. The Liberty plant is expected to begin production in 2025.
2023 Tourism spending in Guilford County nearly doubles 2020.
What This Means For You: According to visitor spending data released by Visit North Carolina, the Piedmont Triad saw a 6.92% increase in visitor spending from $3.655 billion to $3.920 billion. Guilford County, the Triad’s top county for tourism spending and fifth in the state, experienced an 8.7% increase –from $1.547 billion in 2022 to $1.681 billion in 2023. Last year’s total came out to nearly double the $849 million the county earned in 2020.
North Carolina is set to become the seventh-most populated state in the country by the early 2030s, according to the U.S. Census Bureau.
What This Means For You: It is projected that 14.2 million people will live in North Carolina by 2050 – that’s an increase of 3.8 million people since 2020. Population projections indicate significant increases in urban and suburban areas, especially within the Piedmont region, which is already experiencing rapid development and infrastructure expansion. To accommodate this growth, state and local governments are strategically planning for housing, transportation, education, and healthcare, ensuring that North Carolina remains both livable and economically competitive as its population continues to rise.
Truist Leadership Institute unveils photos of expansion in Greensboro.
What This Means For You: Truist Leadership Institute’s brand-new North Building opened, featuring floor-to-ceiling windows, an indoor-outdoor bar, luxury guest rooms, meeting rooms with firepits and decks, and more. It is located, by design, just a short Uber ride from the Greensboro airport.
Pickles and Play, a Triangle-based indoor pickleball chain, is coming to Greensboro.
What This Means For You: Greensboro will soon welcome its first indoor pickleball-only facility. Pickles and Play plans to open a 17-court complex next summer as part of its expansion across North Carolina, providing residents with a new recreational hotspot.
