2023 Annual Comprehensive Report

Corporate Park. The ten-year lease began in August 2019 and includes five additional options to extend the lease by five years. Between fall 2019 and summer 2021, Amazon has opened three last-mile delivery facilities located in Kernersville, Colfax and Whitsett, 14 miles east of Greensboro. Each facility employs between 100 and 200 workers with a starting wage of $15.50 per hour plus benefits. FedEx began operating its Mid-Atlantic hub, a major U.S. air hub and cargo handling facility, in 2009. The one million square-foot cargo handling facility is located at PTIA on approximately 160-acre site that has been leased by PTIA to FedEx for an initial term of 25 years. FedEx funded the $500 million cargo handling facility, and PTIA constructed a new 9,000-foot public runway parallel to an existing runway, as well as related taxiway, airfield and road improvements. Between 2009 and 2019, the FedEx Mid-Atlantic air hub, nearly doubled existing operations, adding eight net new flights. In September 2020, FedEx expanded further by adding an average of five to six daytime flights at PTIA in response to increased demand for e-commerce goods in both local markets and freight bound for other locations. In nearby Kernersville, the $110 million, 415,000 square foot FedEx Ground “super hub” sorting and distribution center opened in 2011 and expanded to 493,000 square feet in 2015. In early 2021, FedEx purchased 25 acres on the western edge of its existing FedEx Ground location in Kernersville for $4.98 million to further expand its operations. The extensive FedEx air and ground distribution centers in the Greensboro area are part of an ongoing nationwide network expansion and transit time acceleration plan to boost daily package volume capacity and further enhance the speed and service capabilities of its network. In total, FedEx air and ground operations, employ approximately 3,500 permanent full-time workers in the Triad. To further augment this growing logistics network, United Parcel Service (UPS) , a dominant logistics company in the region, including UPS Ground and Freight, continues to grow. In October 2020, UPS announced two major projects in the area, bringing a total of 592 new jobs; a $54 million equipment expansion at its distribution facility in Greensboro and plans to construct a $262 million, 510,000-square-foot distribution center 16 miles east of Greensboro. In June 2020, Greensboro City Council approved a $314,771 incentive package to create an additional 141 jobs paying an average annual salary of $65,147. In addition, in October 2020, the North Carolina Economic Investment Committee approved incentives for UPS valued at more than $10 million. Currently, the Triad is in the top five in terms of size of sorting and distribution facilities in the country. UPS’s expansion plans will further strengthen the area’s global logistics presence.

In 2005, a $20 million minor league baseball stadium with a 7,499-seat capacity, opened with recent annual attendance averaging 316,000 for the period 2016 through 2022, excluding 2020 and 2021 during the coronavirus pandemic. The Greensboro “Grasshoppers” , a South Atlantic League member, are a Class A affiliate team with the Pittsburgh Pirates. The owners of the “Grasshoppers”, Greensboro Baseball LLC, purchased the First National Bank Field for $12.8 million, becoming one of just a handful of groups that own the park where their team plays.

Just south of First National Bank Field is the planned $140 million Carroll South of Ballpark mixed-use impact project that includes a proposed 20-story office tower, hotel, 280 apartment units, restaurants, conference center and street level retail shops. “ Project Slugger” , a nine-story office and retail development project overlooking

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