Major Project Announcements from CitiFinancial, Dell

CitiFinancial to Build Operations Center in Fort Mill, S.C.

CitiFinancial recently broke ground on a major operations center in Fort Mill, S.C., that it states will eventually house close to 1,600 employees. Construction on the 165,000-sq.-ft. facility, located 6 mi. south of Charlotte, was slated to begin in late November.

CitiFinancial expects to eventually hire approximately 800 to 1,000 people. The majority of the jobs will be in collections and customer service.

The company expects most of its Charlotte service center to occupy the new building by the fourth quarter of 2005. In early 2006, employees from several other area CitiFinancial businesses, including its Auto Service Center and Auto Branch Network, are expected to move into the facility. The building site is located in Kingsley Park, a commercial development on Highway 160, off exit 85 on Interstate 77.

Dell to Build Manufacturing Facility in North Carolina

Computer manufacturer Dell Inc. announced recently it will construct another U.S. manufacturing facility in the Triad area of North Carolina. This is the third expansion of its operations in the U.S. that the company has announced this year.

Dell stated that the new facility, scheduled for a fall opening, would produce desktop computers for the company's East Coast business and consumer customers. A site in the Triad area for the facility had yet to be determined.

The North Carolina facility will add to Dell's existing U.S. manufacturing operations in Austin, Texas, and Lebanon, Tenn.

South Carolina Activity Surges, as N.C. Contracts Decline

McGraw-Hill Construction recently reported that the value of October contracts for future construction activity increased by a significant 29 percent in South Carolina, while declining by 1 percent in North Carolina, compared to the same period a year ago.

In North Carolina, compared to October 2003, the most recent month's 1-percent decrease resulted in a nearly $1.9 billion contract total. The residential sector increased again, by 8 percent, to end at approximately $1.2 billion. The value of nonresidential contracts declined by 22 percent, and was estimated at approximately $414.2 million. The value of nonbuilding contracts improved by 1 percent, ending at an estimated $268.3 million.

Year-to-date, 2004 North Carolina contract activity has increased by 14 percent, compared to the first ten months of 2003, to total approximately $17.9 billion. Nonresidential is 4 percent behind 2003's pace, with nearly $3.9 billion in contracts reported. Residential construction has increased by 22 percent to total roughly $12 billion, and the nonbuilding sector is estimated to be 15 percent ahead for the year, with approximately $2 billion in contracts reported.

The value of South Carolina activity jumped by 29 percent in October, with the nonresidential and nonbuilding categories providing most of the improvement. The nonbuilding category improved by 59 percent for a monthly total of nearly $260 million, compared to last October's $163.8 million. The nonresidential category escalated by a hefty 75 percent over last October's $168.5 million figure, and totaled approximately $294.5 million. Residential also improved, by 6 percent, to total roughly $559.3 million. The total value of October contracts was roughly $1.1 billion.

Year-to-date, the value of new contracts in South Carolina is estimated at roughly $10.1 billion, or 24 percent ahead of 2003. Nonbuilding construction is an estimated 49 percent ahead of the pace set through the first ten months of 2003, with roughly $2.1 billion in contracts reported so far. Nonresidential, with an estimated value of approximately $2.5 billion, has improved by 24 percent for the year, while the value of residential contracts, estimated at about $5.5 billion, has improved by 16 percent.

Bonitz to Build New Facility

Bonitz, one of the nation's largest privately held commercial flooring contractors, announced it will build a new facility in the International Business Park in Concord, N.C. The $3 million, roughly 50,000-sq.-ft. building will include office and warehouse space. The completion date is set for March. Atlanta-based Integra Construction will build the tilt-wall building, while Bonitz will complete the interior office space.

Bonitz will house management, sales and field support staff at the location.