Wednesday, February 25, 2015

The Miracle Never Came

In the past the staff and I have told you of the 150 acres of new empty buildings built by UNCG and NC A&T at the areas 2 Gateway Centers North and South. Today the News & Record touts the opening of VF Corporations new Global Jeanswear Innovation Center in the Gateway University Research Center Park South later this year. From the article:

"The center will focus on innovation in VF Corp.'s jeanswear brands"

Like what, jeans for nanobots? Seriously, how many ways can you spin this major screw up?

You see, Gateway South is the home to the much touted nanoschool that was supposed to save our local economy bringing in lots of nanotechnology related industries and oodles of fresh faced students but instead we got ghost towns and a lab with only 10 students after 4 years.

Let's face reality here folks, the Gateway Center is a failed real estate venture on the part of UNCG, NC A&T, the UNC system and North Carolina's elite developers who had hoped their cart before the horse efforts which have failed to drive economic development for the last 30 plus years might pull off a miracle.

As usual, the miracle never came. Real estate development as economic development simply doesn't work. Greensboro is flooded with empty privately owned commercial properties but instead local and state tax dollars as well as education dollars, were used to build a building that is now going to be rented to a textile company that makes their actual products overseas.