THE WEEKLY REVIEW | March 17, 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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“Honda has revealed the key next steps it will take to establish a major electric vehicle hub in Ohio, which includes a $3.5 billion facility in Fayette County and the transformation of its Marysville auto plant. The automaker announced Tuesday that the Marysville plant will consolidate and retool two assembly lines for the production of electric vehicles and EV components. In addition, production of the Honda Accord will be transferred from the Marysville facility to the company's auto plant in Indiana."
"’Typically, these projects are funded by federal dollars matched by state dollars,’ ODOT District 6 Deputy Director Anthony Turowski said. ‘This project is a great example of a rural investment that will further support jobs and better connect western Ohio to the capital city.’ In the state agency's central Ohio region, which includes Franklin, and 13 other counties, 128 projects are either underway or set to start, at a cost of $985 million. That includes 52 pavement projects, 31 bridge projects, 15 safety improvements and seven major reconstruction projects."
“An energy company is investing $600 million in a new manufacturing facility in Pataskala that would bring 850 jobs to Central Ohio. Chicago-based Invenergy, which is the anchor customer of the Illuminate USA joint venture, announced it will create one of the largest solar panel production plants in the country”.