Intel’s new $20 billion project to construct two microchip manufacturing crops will result in main business actual property development in New Albany and elsewhere in Central Ohio as firms that depend on microchips transfer amenities to the realm.
Josh Ruben, a dealer at JNR Grand Realty in Columbus, stated 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 development proper now,” he stated.
Each Schottenstein and Ruben stated the deal will spark an explosion in business constructing in Central Ohio, past simply New Albany to possible embrace cities like Johnstown and Alexandria. That development will probably be pushed by firms that depend on microchips that need to be close to Intel, such because the auto business and laptop, tv and telephone producers, they stated.
Schottenstein likens this to the expansion and growth that befell when Honda constructed an auto plant in Marysville.
Ruben stated these firms will attract different business entities that assist these industries, together with transport and transportation firms. He stated this business growth will deliver extra buyers to the area, resulting in development.
This inflow of funding and business constructing can have numerous long-term advantages, Ruben stated. These advantages will embrace upgrades in infrastructure, together with electrical grids, roadways and transportation techniques; higher bandwidth for the web; and upgrades in native well being care techniques to higher 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 stated for this to turn into a actuality, cautious planning and coordination should proceed amongst native governments and business to handle points corresponding to the necessity for zoning adjustments and the like.
“I feel they’ve carried out a pleasant job with bringing Intel to this location,” he stated. “I do know there was lots of people concerned and I obtained to present them quite a lot of credit score. However now the planning actually has to start.”