Bob Leak writes at the Winston-Salem Business Inc. blog:
With good reason, the Caterpillar advanced manufacturing project in Winston-Salem has drawn much attention. The facility is under construction and the expected boost to local employment and the area economy is certainly the development story of the year here. However, the real impact is yet to come.
Let’s call it the “Cat” effect. It’s the wave of activity and interest in Winston-Salem created by such a major global manufacturer having shined a spotlight on what the area has to offer. Cat’s exhaustive process of selecting Winston-Salem allows site consultants and business leaders to see more clearly the advantages and unique qualities that make the area ideal…
Where does the “Cat” effect lead? With the Cat facility groundbreaking complete, there’s still a long way to go. And in this economy, there are few, if any, certainties. But, Winston-Salem is certainly looking good in the spotlight.
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I remember hearing similar ideas about Dell. How its suppliers would move here because Dell requires just-in-time inventory management. Also, globally, in terms of dollar volume of sales CAT is smaller than DELL by a little. With a good chunk of the incentives repaid, the Dell venture is probably a limited success. People had jobs for that period that they probably wouldn’t have.