Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

2009 South Metro Outlook Presentation

Presentation given by FCDA at the 2009 South Metro Development Outlook in Morrow, Ga.

  • Login to see the comments

  • Be the first to like this

2009 South Metro Outlook Presentation

  1. 1. The Good, The Bad and The Downright Ugly: A review of Fayette County's current economic climate and the state of the retail, office and industrial markets. Matt Forshee President/CEO Fayette County Development Authority
  2. 2. Overview <ul><li>The Good </li></ul><ul><ul><li>Population, Jobs & Employment and a little bit of a Challenge. </li></ul></ul><ul><li>The Bad </li></ul><ul><ul><li>Announced Job Losses </li></ul></ul><ul><li>The Downright Ugly </li></ul><ul><ul><li>One Industry Sector’s nearly complete collapse. </li></ul></ul><ul><li>State of the Retail, Office and Industrial markets </li></ul>
  3. 3. The Good <ul><li>Over the last three years, FCDA has announced the creation of 1400 new positions in Fayette county. </li></ul><ul><ul><li>Sany America – 600 Jobs over 10 years </li></ul></ul><ul><ul><li>NCR – 600 jobs over 3 years </li></ul></ul><ul><ul><li>Other New Companies - FieldTurf, Dixie Aerospace. </li></ul></ul><ul><ul><li>Expansions by Existing Companies – Hella, Aventure Aviation, Rinnai, </li></ul></ul>
  4. 4. The Good
  5. 5. The Good: Population Detail
  6. 6. The Good: Population Detail
  7. 7. The Good <ul><li>Employed Fayette County Residents at the highest number ever, hitting 54,000 employed in July 2008 </li></ul>
  8. 8. The Good <ul><li>In 2008, the predominant household income category in Fayette County is $100K - $150K, and the income group that is least represented is $0 - $15K. The average HHI is $90,608 and the median HHI is $89,115. </li></ul>
  9. 9. The Bad <ul><li>Long standing companies announce plans for layoffs </li></ul><ul><ul><li>Panasonic plans to layoff 500 people in 2009 </li></ul></ul><ul><ul><li>Corporate parents of other local companies announce plans for system-wide layoffs. Local effects unknown. Cooper Industries, Gardner Denver </li></ul></ul>
  10. 10. The Downright Ugly <ul><li>Unemployed Fayette County Residents at the highest number ever, hitting 3,200 in November 2008. </li></ul>
  11. 11. The Downright Ugly
  12. 12. The Downright Ugly <ul><li>From a high of 1,710 units in 1987 to a low of 143 units in 2008 (as of October). In 2007, there were 353 units built. </li></ul>
  13. 13. The Downright Ugly <ul><li>From 2005 to 2008, the total value of SFH permitted in Fayette County went from $214mm to $42mm, a loss of over 80% of value. </li></ul>
  14. 14. The Downright Ugly <ul><li>On the bright side, we are now home to the most expensive new average single family home price in Georgia. </li></ul>
  15. 15. Commercial - Retail <ul><li>ARC’s March 2008 Regional Snapshot </li></ul><ul><ul><li>YR 2000 </li></ul></ul><ul><ul><ul><li>Metro – 48.4 sf/person </li></ul></ul></ul><ul><ul><ul><li>Fayette – 64.4 sf/person </li></ul></ul></ul><ul><ul><ul><ul><li>2 nd after Coweta </li></ul></ul></ul></ul><ul><ul><ul><ul><li>6 th in vacancy rate (4.6%) </li></ul></ul></ul></ul><ul><ul><li>YR 2007 </li></ul></ul><ul><ul><ul><li>USA – 20 sf/person </li></ul></ul></ul><ul><ul><ul><li>Metro – 49.2 sf/person </li></ul></ul></ul><ul><ul><ul><li>Fayette - 65.4 sf/person </li></ul></ul></ul><ul><ul><ul><ul><li>2 nd after Coweta </li></ul></ul></ul></ul><ul><ul><ul><ul><li>19 th in vacancy rate (5.5%) </li></ul></ul></ul></ul><ul><ul><li>The report appears to show that, though we have more retail space per person than nearly every other county in metro Atlanta, our spaces are staying occupied at a higher rate than nearly every other county’s. Does this partially explain why commercial developers continue to show interest in developing retail centers in Fayette? </li></ul></ul>
  16. 16. Commercial - Office <ul><li>ARC’s March 2008 Regional Snapshot </li></ul><ul><ul><ul><li>2000 – 2007,+823,523 sf (38.3%) </li></ul></ul></ul><ul><ul><ul><li>Total of 2,975,284 sf (284 blds) </li></ul></ul></ul><ul><ul><ul><ul><li>7 th largest office market in 20 county metro region (Fulton, DeKalb, Cobb, Gwinnett, Forsyth & Clayton) </li></ul></ul></ul></ul><ul><ul><ul><li>Average space/building – 10,476 sf </li></ul></ul></ul><ul><ul><ul><ul><li>9 th largest average building size </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Metro Average – 27,499 sf </li></ul></ul></ul></ul><ul><ul><ul><li>Average vacant space/bld – 1,666 sf </li></ul></ul></ul><ul><ul><ul><ul><li>10 th largest average vacant space </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Metro Average – 3,864 sf </li></ul></ul></ul></ul><ul><ul><ul><li>Comparisons </li></ul></ul></ul><ul><ul><ul><ul><li>2000 – 2007, Forsyth grew by 153% </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Henry has below Fayette in total bld sf at 2.4 MSF, but grew 1,320% between 2000 and 2007. </li></ul></ul></ul></ul>
  17. 17. Industrial Buildings <ul><li>No major new stand alone Industrial Construction, mostly small lease spaces </li></ul><ul><li>Tiernan & Patrylo’s retrofit of 300,000 sf TDK facility into 10 unit facility. </li></ul><ul><li>Within 6 months, T&P had all but one 40,000 sf space leased out. </li></ul>
  18. 18. Thank You Matt Forshee President/CEO Fayette County Development Authority Copies of this presentation available at