NC State Ag Economist Dr. Mike Walden – “A Warehouse Boom”

Mary:  I’m Mary Walden, with economist MW, welcoming you to the economic perspective.   Today’s program looks at a warehouse boom.  Mike, there are reports of a construction boom going on in the country.  But it’s not home, it’s not high rises, and its’s not office buildings.  Instead, the boom is in warehouses.   What’s happening?

Mike:  Summary Answer

1. Currently there is almost 190 million square feet of warehouse construction underway, equivalent to 3200 football fields
2. Much of it is in the south, including Charlotte
3. Jobs in warehouse is among the fastest growing of all jobs
4. Biggest reason behind the boom – online sales
5. Cyber sellers offer quick delivery, so must have the stock available to deliver
6. Means storing the stock in warehouses
7. Some say the next step will be smaller, but more numerous warehouses to facilitate drone delivery
8. I’m MW