1st Quarter 2019
by Joe A. Hollingsworth, Jr.
In the Obama years, how many times did we all hear the words “get used to the new normal” - whether they were talking about Baby Boomers retiring, persistently high unemployment (if you included all the unemployment variations), lack of productivity increases, or the words “manufacturing jobs will never come back”? Well, as it worked out, they had almost half of the country believing it by the end of 8 years. However, in the case of manufacturing jobs during the Obama years, overall employment grew faster than employment in the manufacturing sector; thus, causing the New York Times columnist and economist Paul Krugman on November 25, 2016 to say, “nothing policy can do will bring back those lost jobs. The service sector is the future of work, but nobody wants to hear it”. We were destined to be a country of lower paying restaurant and retail outlet jobs which was the grand vision by the Obama administration. However, slightly more than the other half of the country decided they would take a gamble on Trump; and, with Trump’s policies (and expectation of those policies), things changed on manufacturing.
In the 22 months of Trump’s
presidency, manufacturing employment grew by 3.1%, and non-farm employment grew
by 2.6% which was just the inverse under Obama. In fact, in the last 22 months of Obama
compared with the first 22 months of Trump, more than 9 times the number of
manufacturing jobs were being created under Trump - so much for Obama’s “new
Never have regulations been
lifted, modified, or revised at such a rapid rate. In fact, some estimates say as much as 3 times
the rate of the Reagan years. However, that’s not the best of it. We have finally got a tax code that makes
sense for business, and thus industrial real estate. Whether it’s totally
expensing off new building upfits or purchasing higher productivity equipment,
this manufacturing resurgence is likely to continue at an extremely fast clip.
Sure, we have a Federal Reserve that just went crazy with QT (quantitative
tightening) and raising interest rates at the same time (December’s terrible
decision) as well as the ever-evolving threat of higher tariffs. However, such
variables are always present in a Democracy!
As Phil Graham constantly says,
“Government can’t rescue the poor”. But, I believe higher paying manufacturing
jobs stand a good chance. After 50 years
of the war on poverty, roughly 13% of Americans lived in poverty both at the
start and the end of the 50 years. There is not enough federal money to make
everyone rich; only individual initiative can accomplish this.
Less regulation and more
individual initiative with less government dependency are greatly expanding the
opportunities for an individual’s economic destiny, and it’s playing out in
front of our eyes! Higher income jobs are being created; lower income jobs are
being eliminated; and, in some cases, jobs are being replaced by robots or software.
Let the good times roll!
SouthPoint Industrial Park in Mocksville Continues to Expand
September 18, 2018
Building Number Ten is underway in the SouthPoint Park in Davie County, NC
Mocksville, NC (September 18, 2018) - Less than a year from a 75+ acre expansion in the SouthPoint Business Park, North Carolina; The Hollingsworth Companies are starting the second facility in a four building expansion in their park. The Hollingsworth Companies have been a long time supporter of the Mocksville community with the introduction of the areas first industrial park in 1997. “I would like to thank the community for being willing to invest time, effort, and money into being a true partner in making this park successful and I want to thank the entire county for their willingness to help us develop their area,” Hollingsworth said.
This tenth building, a 253,180 square foot industrial building, will be a similar designed, steel and masonry facility, with 30’ clear height, 60 foot by 60 foot column spacing and high intensity LED lighting. This facility design has been very successful for The Hollingsworth Companies with four industrial parks and over 125 buildings across the Southeastern Manufacturing corridor located from Virginia to Mississippi. From their beginnings as a local development company in Clinton, TN, The Hollingsworth portfolio now includes 18 million square feet of property leased to companies that range from manufacturing to distribution and fortune 100 companies to high growth, early stage companies less than two years old.
The ninth building in the park, a 108,960 SF facility built on spec. is currently available for a long-term lease by a light manufacturing and/or distribution company. Two additional buildings are planned in the park, a 152,160 SF facility that can be expanded to 238,590 SF and a 130,344 SF facility that can be expanded to 259,944. Both are expected to be constructed in 2019.
"Mocksville could not have asked for a better business partner than the Hollingsworth Companies. It has been a pleasure working with such a professional organization that has helped bring so many employers to our town since 1997. With their new buildings coming on line in the near future, Mocksville will remain at the forefront of economic development in this booming economy" stated Will Marklin, Mayor, Mocksville, NC.
Terry Bralley, President of the Davie County Economic Development Commission added “Mocksville-Davie County has been the envy of rural communities in North Carolina for 20 years. Our community has developed the perfect public-private partnership to support an industrial park with speculative buildings bringing 100’s of jobs and new investment to our community.
Hollingsworth believed in our community when others did not. Without industrial buildings in today’s fast paced environment, communities do not have the opportunity to grow future jobs.
The partnership with Hollingsworth, the largest non urban industrial real estate developer and construction firm in the southeast United States continues to creates an incredible winning story for our community, of which we are most grateful.”
The SouthPoint Industrial park is located adjacent to the I-40 between the I-85 and I-77. This location is ideally suited for manufacturing and distribution companies that support the Charlotte, Winston Salem, and Greensboro MSA’s. The Charlotte MSA has seen strong growth with defense-related industries with four of the nation's top ten defense contractors locating facilities in the area as well as a strong market for distribution companies located along the I-85 corridor. Greensboro has well established manufacturers in chemicals (pharmaceuticals), transportation equipment, machinery, and fabricated metals. While the Winston Salem area sees continued expansion in Apparel, Aerospace, and Construction Equipment manufacturing.
About The Hollingsworth Companies
The Hollingsworth Companies are the largest non-urban Industrial Real Estate developer and construction firm in the southeastern United States with 125 tenants, eighteen million square feet of industrial space, spread over 15 states. The Hollingsworth Companies has facilities located in North Carolina, Alabama, Georgia, Mississippi, South Carolina, Tennessee, and Virginia. For more information about The Hollingsworth Companies, contact, Tom Mann, Senior Vice President of Industrial Real Estate, at 865.457.3701, firstname.lastname@example.org