THE WEEKLY REVIEW | August 25, 2023
Keeping up with CRE trends is as easy as 1-2-3 with our weekly piece! The Weekly Review is a new blog series that will be released every Friday. The market is constantly growing and adapting to new ventures and ideas, and our goal is to provide up-to-date information into what is happening in both the Columbus and U.S. markets, as well as the commercial real estate industry as a whole. As stories evolve, the Weekly Review will continue to follow along and update our clients and community.
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“The $2 billion terminal in design for Columbus' airport is just one piece of an overall economic development strategy that can build Ohio's reach and benefit its big and small businesses alike.”
“John Glenn Columbus International Airport's plan for a new terminal joins a recently announced transportation transformation plan for the region, the expansion of what is now largest Ohio's largest hotel in downtown Columbus, and an overall fast-growing economy as key factors in the region's future growth, leaders say. The seven additional gates, bringing the airport's total to 36, will be able to handle more flights, more travelers and different types and sizes of aircraft, as well as have room for future expansion. That could mean more flights.”
"’With increased capacity, there would be the hope that we would have more direct flights to desired destinations, so we wouldn't have to connect through so many airports ... within the U.S.,’ Experience Columbus CEO Brian Ross said. ‘Hopefully that would allow us to grow our international capabilities, (to) get a couple of direct international flights.’"
“As consumers continue to hunt for good prices, many have turned to discount and dollar chains of late, which the first half of 2023’s results prove. Several of the biggest chains in the category posted strong numbers, according to a recent report by Placer.ai.”
“In fact, this segment—led by Dollar Tree, Family Dollar, Ollie’s, Bargain Outlet and Five Below–has performed better than grocery stores and superstores, according to the retailers’ positive year-over-year foot traffic. Dollar General, the country’s largest dollar store, experienced some small YoY visit gaps, probably due to a strong 2022 but the chain’s July 2023 visits still held above its already strong January 2022 baseline. Some of Dollar General’s growth was due to the company’s expansion as it opened 1,039 new stores last year."
“A year after President Biden signed the CHIPS & Science Act, money from the $52.9 billion bill has yet to
start flowing to Intel and other semiconductor companies and suppliers counting on it as part of the Biden administration's plan to return production of the tiny, critical devices to the U.S. The Commerce Department has not indicated when the first awards will be made, only that there's been great interest in the money, including from Intel, which is spending $20 billion on two plants in New Albany in what is the state's biggest economic development in history.”
“’We will start to give out the money later this year,’ Secretary of Commerce Gina Raimondo told CNBC this month. ‘We’re pushing the team to go fast, but even more important, to get it right.’”