TD Bank and 1400 New Jobs
A phoenix has risen out of the fallout of the South Financial banking group here in Greenville. TD Bank purchased South Financial earlier in the year, and has announced that it will operate a new regional hub out of the large office space built along I-85 near the Millennium Campus. They plan to add 1,400 jobs at that site, which will boost their management infrastructure along the east coast. TD operates about 1,300 branch banks from Maine to Florida, and has managed the financial crisis well, maintaining a rare worldwide AAA status. TD also plans to add 200 jobs to the Lexington, SC office where 313 already work. Renovations to the I-85 site will involve a $17.1 million investment for 300,000 square feet of corporate space. Earlier this year, CertusBank also announced that they would add 350 jobs at their new headquarters in downtown Greenville. That’s good news for Greenville, with local banking institutions adding jobs while financial jobs in traditional areas like Charlotte are still shedding them.
Manufacturing in the Upstate has also seen several advances during 2011, with an emphasis on technology.
Scio Diamond Technology Corporation will move its corporate headquarters and production facility from Boston, MA to Greenville. They produce high quality “cultivated” diamonds in a laboratory setting using their patented chemical deposition process. The plant will be located at Church Street and University Ridge adjacent to the Next Innovation Center, with a plan to be in operation by the second quarter of 2012. According to President and CEO Joseph Lancia, in Greenville, South Carolina he “found the ideal balance of business-friendly climate, access to talent, entrepreneurial drive and exceptional quality of life.”
Bosch Rexroth will expand its hydraulic manufacturing operations in Fountain Inn, SC with the purchase of the former GlaxoSmithKline facility, a leased warehouse space, and 65 acres of surrounding land. Bosch Rexroth has been at the current site for 23 years, and the expansion will make it the company’s largest manufacturing site in the Americas, plus generate 160 new jobs over the next 5 years. The site will be the primary facility for producing mobile hydraulic pumps and motors used in construction, agriculture, mining, material handling, and oil and gas exploration.
The GE aviation plant has recently received a large order from Southwest Airlines for 416 engines that will power Boeing 737 aircraft. That deal is worth $4.7 billion and will take years to fill, providing a bit of job security for GE workers.
Changes To Look For Around The City
The City of Greenville has given initial approval for a carillon with Italian bells at the traffic circle outside the Hampton Inn on the river. As part of that deal, developer Phil Hughes will complete improvements behind the Bounce Building, which is next to the proposed carillon. Look for a rock wall, stairway and railings at the terrace area.
Scott Tower, the 14-floor high rise on Augusta Street near Greenville High School, will be demolished because repairs to the building were estimated to be $12 million, or about 60% of its value. Scott Towers has been around since 1972 and houses senior citizens and disabled residents. The Housing Authority will help the tenants find new housing and the relocations are expected to complete by September of 2021. Stay tuned for what will be going in at the site. For more Downtown Greenville SC real estate information, click here!
Clear with nice warm days in the 60s this week, but rain will come in on Friday as a cold front crosses the area. The weekend should be clear and cooler with highs in the upper 50s.