Intel’s new $20 billion project to construct two microchip manufacturing crops will result in main industrial actual property progress in New Albany and elsewhere in Central Ohio as corporations that depend on microchips transfer amenities to the world.
The Intel mission is “an enormous win for Ohio,” Brian Schottenstein, president of Schottenstein Real Estate Group in Columbus, informed the Columbus Jewish Information.
Josh Ruben, a dealer at JNR Grand Realty in Columbus, mentioned the transfer is an indication of a area on the rise.
The Intel deal “exhibits simply how primed Ohio and extra particularly, Central Ohio, is for financial progress proper now,” he mentioned.
Growth in tax revenue, businesses, jobs expected with Intel
Each Schottenstein and Ruben mentioned the deal will spark an explosion in industrial constructing in Central Ohio, past simply New Albany to seemingly embody cities like Johnstown and Alexandria. That progress can be pushed by corporations that depend on microchips that wish to be close to Intel, such because the auto business and pc, tv and cellphone producers, they mentioned.
Schottenstein likens this to the expansion and improvement that befell when Honda constructed an auto plant in Marysville.
Ruben
Ruben mentioned these corporations will attract different industrial entities that help these industries, together with transport and transportation corporations. He mentioned this industrial improvement will convey extra traders to the area, resulting in progress.
This inflow of funding and industrial constructing could have varied long-term advantages, Ruben mentioned. These advantages will embody upgrades in infrastructure, together with electrical grids, roadways and transportation methods; higher bandwidth for the web; and upgrades in native well being care methods to raised deal with the rising inhabitants. And that cycle of enchancment will then result in new industrial, warehouse and mixed-use developments, together with retail, he added.
Schottenstein
Schottenstein mentioned for this to turn out to be a actuality, cautious planning and coordination should proceed amongst native governments and business to deal with points comparable to the necessity for zoning modifications and the like.
“I feel they’ve achieved a pleasant job with bringing Intel to this location,” he mentioned. “I do know there was lots of people concerned and I bought to provide them a whole lot of credit score. However now the planning actually has to start.”
