The article examines the potential impact from a planned Toyota battery plant and aircraft manufacturing facility at the airport that could mean 12,000 jobs for the region.
A Triad Business Journal article that takes a look at the potential economic impact from two large-scale manufacturing projects in the Triad region includes insights from Associate Professor of Economics Tonmoy Islam.
The article examines the ripple effect from the two major projects — a Toyota battery plant to be built on the Guilford-Randolph Megasite that could employ at least 1,750 and an aircraft manufacturing facility at Piedmont Triad International Airport.
“In the near term there’s going to be a boom in the transportation industry in this region with all the construction material coming in,” Islam told the Triad Business Journal. “In the long term, there will be all the housing that needs to be built for the new people coming in for the jobs, plus new restaurants, stores and service industry.
Islam noted that there could be an indirect impact from the projects called the employment multiplier. “For every one person working in the battery plant it will create more than one job outside of it,” Islam said. “It could be not only for the factories supporting the manufacturing plant, but also the transportation industry, the food industry, housing, construction, all that will benefit as more people come in.”
Read the entire article here.
Are you a journalist interested in talking with Dr. Islam? Please reach out to Owen Covington, assistant vice president for news and information, at ocovington@elon.edu or (336) 278-7413.