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At the close of the first half of 2024, the U.S. had 375.7 million square feet of industrial space under construction. Notably, the amount under construction nationally has dropped by almost 19% compared to the start of the year, when 463 million square feet were under construction, and by 45% compared to January 2023.

Using CommercialEdge data on industrial property completions and assets under construction, we looked at the markets with the largest industrial real estate pipelines as of July 2024, the largest properties scheduled for a completion in the second half of the year, and the largest properties built so far in 2024. 

Here are some local highlights:

• Atlanta’s industrial pipeline currently encompasses 10.9 million square feet of space, marking a 66.7% increase since January 2024.

• The current projects under development in Atlanta will expand the market’s inventory by 1.9%, recording the 20th-largest industrial expansion among the markets on the list.

• The largest industrial completion in the first half of 2024 in Atlanta was the Speedway Commerce Center – Building 6, at 1.4 million square feet.

At the national level:

• Topping the list of most new industrial supply nationally was Phoenix, with 39 million square feet of industrial space under construction.

• The Savannah market is set to register the largest industrial expansion, with a projected increase of 18.8% compared to the current inventory once completed. 

Find more details and our complete methodology visit www.commercialsearch.com

 

From left: Doug Hooker, Ramsey Cohen, Tobias Peter, Maribeth Feke, Mayor Knox White, Ann Hanlon,
Chairwoman Nicole Love Hendrickson, Chairwoman Lisa Cupid, Michael Paris

On Friday, August 9, 2024, the Council for Quality Growth hosted more than 400 attendees at City Springs for its 4^th annualThe INTERSECTION Quality Development Conference. This event is product of the Quality Growth Institute, the education arm of the Council. The INTERSECTION convened public policy and private business leaders from across the region to discuss critical issues facing metro Atlanta. The theme of the 2024 event was “Building a Strong Foundation: Where Housing & Infrastructure Meet,” which continued much of the conversation on increased housing options and affordability from the 2023 event. The Council positioned housing as a form of critical infrastructure to the region. 15 expert speakers filled a four-part program with in-depth discussions around these two topics, bringing both national ideas and local perspectives to the table. Doug Hooker, former Executive Director of the Atlanta Regional Commission, served as the master of ceremonies. 

Attendees were Council for Quality Growth members and businesses representing various sectors of development, including real estate, infrastructure, economic development, government, and community organizations. Over 100 elected officials from the region’s 89 local governments were in the crowd at City Springs. The Council works at the intersection of public policy and private investment, and The INTERSECTION Conference brings these two sides together to discuss common challenges and uncover new solutions. In the effort to advance the mission of the Council for Quality Growth and the Quality Growth Institute, this event provides an educational platform for private business and local governments to learn from one another, share ideas, and foster strategic partnerships that move our region forward.

Mayor Knox White of the City of Greenville, South Carolina delivered the keynote address to begin the day. He shared the success story of Greenville, and how intentional planning and deliberate partnerships made it the city that it is today. In his 29 years as Mayor of Greenville, White says he prioritized residential development in the core of his downtown, walkability, and greenspace. This, along with capitalizing on the city’s natural landmark, shows firsthand how proper public sector investment in infrastructure leads to private investment and transformational economic growth.

A local mayoral panel followed the keynote, featuring Mayor Beverly Burks of the City of Clarkston, Mayor Rusty Paul of the City of Sandy Springs, and Mayor Vince Williams of Union City. Despite being very different in geography, demographics, size, and resources, all three of these metro Atlanta communities endure similar pain points growth. Kyle Wingfield, President & CEO of the Georgia Public Policy Foundation moderated this discussion on building cities for capacity.

Part two explored innovation in housing, both policy and products. Tobias Peter, Senior Fellow at American Enterprise Institute and national housing policy expert, delivered a data driven presentation on adding market rate housing. With statistics and case studies across the U.S., Peter outlined the “Housing Abundance Success Sequence” of ways local communities can increase their housing supply.  Ramsey Cohen, VP of National Sales at Clayton and national manufactured housing expert, then presented an innovative housing product that’s right here in the City of Atlanta. The CrossMod® home is 70% factory-built and is delivered to and finished on a foundation. It is a cheaper and faster way to build single-family housing, and it is completely indistinguishable from a traditional site-build. Clayton focuses on housing products that increase attainability and home ownership in communities. Two Clayton CrossMod® homes exist in the City of Atlanta, one of which is currently on the market.

Part three focused on this intersection between housing and infrastructure with a case study on the 2 Peachtree office conversion project downtown. Egbert Perry, Chairman & CEO of The Integral Group, gave an overview of the ambitious development, the infrastructure challenges that come with office-to-residential conversion, and the impact it will have on the community it will serve. He shared renderings of what he plans to build where the 41-story office tower sits vacant today, and he encouraged the audience to consider the underutilized office space in their own community. “Everyone has their own 2 Peachtree,” Perry said. 

The Atlanta Regional Commission also gave an update on regional initiatives around housing and infrastructure. Woodstock Mayor Michael Caldwell, who currently serves as Vice Chair of the ARC, spoke on the concept of regionalism before inviting Anna Roach, Executive Director, to join him on stage. “Think about the biggest issues facing our region today,” said Caldwell. “Transportation, climate and resilience, economic development, water resources…These challenges aren’t isolated to any one city or county. They affect all of us. As such, they require a collaborative, regional approach.”  Roach discussed the specific ways that ARC is facilitating these collaborations to secure funding for major housing and infrastructure projects across the Atlanta region. 

Part four concluded the half-day agenda with content focused on transit expansion. First, Maribeth Feke, Director of Programming & Planning for the Greater Cleveland Regional Transit Authority, shared her own bus rapid transit (BRT) success story. Cleveland’s HealthLine BRT has been operational for nearly 15 years and has seen more than $9.5 billion in investment as a result. An entertainment district and business incubator have appeared on the BRT route, along with revived education and healthcare campuses. The bus looks and rides like heavy rail but was much cheaper and faster to implement. Feke says one of the greatest advantages to BRT is its adaptability.

Feke’s story was presented as a pretext to the final piece of content. Gwinnett and Cobb counties both have transit expansion programs on the ballot this November that include a major element of BRT. Cobb Chairwoman Lisa Cupid and Gwinnett Chairwoman Nicole Love Hendrickson sat down with Ann Hanlon, Executive Director of the Perimeter CIDs and 2019 Chair of the Council for Quality Growth, to discuss their transit plans and the significance of connecting the region in this way. Both Cobb and Gwinnett have proposed a mix of BRT, increased county ride bus service, county-wide micro-transit, added transit and transfer facilities, and technological advancements to improve the existing routes. The Council strives to educate our region to better understand these programs and the importance of regional connectivity. More information about the Cobb Mobility SPLOST and Gwinnett Transit SPLOST can be found at CouncilforQualityGrowth.org/TRANSPORTATION. 

This is the 4^th year the Council has hosted The INTERSECTION Quality Development Conference to educate the region on critical development issues. “The INTERSECTION is a perfect example of the Council’s commitment to fostering collaboration among private and public sectors in the Atlanta region,” said Sally Riker, 2024 Char of the Council for Quality Growth. “By convening these experts and sharing ideas, we find tangible solutions to the unique challenges in our communities and set our future generations up for success.”

A full recording of the event will be made available for re-watch in the coming days at www.CouncilforQualityGrowth.org/INTERSECTION.

The Georgia gas price average dropped at the pumps compared to a week ago. Georgians are paying an average price of $3.23 per gallon for regular unleaded gasoline (subject to change overnight). Monday’s state average is 5 cents less than a week ago,16 cents less than a month ago, and 41 cents less than this time last year. It costs drivers an average price of $48.45 to fill a 15-gallon tank of regular gasoline. Georgians are paying almost $3.00 less to fill up at the pump compared to a month ago.

“Students have returned to schools across Georgia, and parents find themselves constantly on the move, with their gas tanks depleting faster than normal, so it was a welcome relief over the weekend when fuel prices dipped at the pumps as if to celebrate the season of back-to-school,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Modest crude oil prices and minimal demand keep the cost of gas at an idyllic low.”

AAA continues to encourage drivers to take advantage of the money-saving gas tips listed below.

Nationally:

Gas Prices Fall as Summer Vacations Wind Down

Since last Monday, the national average for a gallon of regular gasoline decreased by 3 cents to $3.44 (subject to change overnight). 

According to new data from the Energy Information Administration (EIA), gas demand fell from 9.25 million barrels a day to 8.96 last week. Meanwhile, total domestic gasoline stocks rose from 223.8 to 225.1 million barrels. Gasoline production increased last week, averaging 10.0 million barrels per day. Crude oil production hit an all-time high of 13.4 million barrels per day. Lower gasoline demand, rising supply, and stable oil costs may lead to additional sliding pump prices.

Regional Prices:

The most expensive Georgia metro markets – are Savannah ($3.33), Hinesville-Fort Stewart ($3.26), and Atlanta ($3.25).

The least expensive Georgia metro markets – are Augusta-Aiken ($3.12), Dalton ($3.07), and Catoosa-Dade-Walker ($3.03).

Current and Past Price Averages (Regular Unleaded Gasoline) 

	Sunday	Saturday	Week Ago	Month Ago	One Year Ago	Record High
National	$3.44	$3.45	$3.47	$3.54	$3.84	$5.01 (6/14/2022)
Georgia	$3.23	$3.24	$3.28	$3.39	$3.64	$4.49  (6/15/2022)
Click here to view current gasoline price averages

 

Money-Saving Tips for Drivers

• Shop around for gas prices. Drivers can check area gas prices on the Fuel Price Finder.
• Consider paying in cash vs. a credit card. Some retailers charge extra per gallon for customers who pay with a credit card.
• Enroll in fuel savings programs.

Fuel-Saving Tips for Drivers

• Maintain your vehicle to ensure the best fuel economy. Find a trusted automotive facility at AAA.com/Auto Repair.
• Combine errands to limit driving time.
• Slow down. Fuel economy diminishes significantly at highway speeds above 50 mph. Drive conservatively and avoid aggressive driving. Aggressive acceleration and speeding reduce fuel economy.

Traffic Safety Tip: AAA-The Auto Club Group “Move Over For Me” Campaign

“Drivers, if you see a disabled vehicle on the roadside while traveling, be courteous and Move Over,” said Waiters. “Remember the person who broke down could be you, a friend, a family member, a coworker, or a neighbor. Move Over for the safety of others and because it is the right thing to do!”     

 

Workforce Development Specialist at Georgia Power Cedric Sheffield talks about workforce development and the re-entry program at Georgia Power.

Widespread concerns are growing among US employees about escalating cybersecurity threats in the workplace, with 53% worried their organization will be the target of a cyber attack and a third (34%) worried that they may be the ones leaving their organization vulnerable due to their actions, according to new data from Ernst & Young LLP (EY US). Notably, fear of exposing their organization to a cyber attack is particularly high among younger generations, with Gen Z and Millennial employees less likely to feel equipped to identify and respond to cyber threats compared to their older colleagues.

The 2024 Human Risk in Cybersecurity Survey is a study of 1,000 employed Americans across public and private sectors that follows the initial 2022 analysis by EY US and explores the current state of cybersecurity and changes over time, revealing key insights for business leaders on cybersecurity awareness and practices. This year, EY US expanded the study to analyze employee perception of the role of artificial intelligence (AI) in escalating threats, finding 85% of workers believe AI has made cybersecurity attacks more sophisticated, 78% are concerned about the use of AI in cyber attacks and 39% of employees are not confident that they know how to use AI responsibly.

“With new threats emerging on a near-constant basis fueled by geopolitical tensions, shifting regulations and the rapid integration of new technologies, including AI, the risk landscape has become even more complicated,” said Jim Guinn, II, EY Americas Cybersecurity Leader. “Want to secure your organization today and in the future? Put humans at the center of your cyber strategy and enlist your people as protectors on the frontlines, arming them with knowledge, training and a dose of healthy skepticism about all digital interactions.”

Closing the Gen Z cybersecurity preparedness gap

Similar to the 2022 findings, the latest EY US cybersecurity study highlights a persistent gap in preparedness across generations, with younger workers continuing to fall short of exercising safe cybersecurity practices more so than older generations.

In fact, Gen Z is losing confidence in their ability to recognize phishing attempts — one of the most common and successful tactics of social engineering attacks — and is most likely to admit to opening a suspicious link. And now, with the power of AI-generated phishing emails, spotting malicious links and content is getting even harder. Although they are a digital-first generation, only 31% of Gen Z feel very confident identifying phishing attempts, marking an alarming nine percentage point drop from 40% in 2022, and 72% said they have opened an unfamiliar link that seemed suspicious at work, far higher than Millennials (51%), Gen X (36%) and Baby Boomers (26%).

Nearly two-in-three Gen Z and Millennial workers are particularly fearful about repercussions surrounding cybersecurity, including 64% of Gen Z and 58% of Millennials who fear they would lose their job if they ever left their organization vulnerable to an attack. Younger generations are also more likely to not fully understand what their organization’s process is to report suspected cyber attacks, even though their organization has a process in place (39% Gen Z and 29% Millennials vs. 19% Gen X and 15% Baby Boomers).

However, it’s not all doom and gloom. Despite concerns around their abilities to prevent an attack, EY research indicates that Gen Z workers increasingly consider themselves knowledgeable about cybersecurity (86% vs. 75% in 2022), pointing to opportunities to better equip younger workers to turn this knowledge into confidence by investing in upskilling and training that caters to their unique experience as true digital natives.

Cultivating a culture of cyber confidence

The rapidly evolving nature of AI has made it essential for organizations to adapt training protocols regularly and remain committed to providing frequent, up-to-date training that addresses the latest AI-driven threats and cybercrime trends. A vast majority of employees (91%) say organizations should regularly update their training to keep pace with AI, especially as AI’s role evolves in cyber threats; but only 62% say their employer has made educating employees about responsible AI usage a priority.

“Cybersecurity training and attention from leaders across the C-suite contributes to the development of a strong security posture within an organization,” said Dan Mellen, EY Americas Consulting Cybersecurity Chief Technology Officer. “When security practices are ingrained in the company culture, employees are more likely to prioritize security in their day-to-day activities and proactively report potential security incidents.”

The EY Cybersecurity team advises C-suite and senior business leaders to incorporate the following leading practices in their cyber agenda to cultivate a strong and confident security culture within their organization:

• Build robust training exercises that are reinforced year-round. EY US research finds employees who are “rusty” on cybersecurity training are most fearful of using technology at work. Conversely, 94% of employees who received training within the past year say cybersecurity is a priority to them.

• Drive employee engagement with gamification. Leaderboards and multiplayer features in gamified training programs encourage healthy competition among employees, driving them to perform better. Gamification is particularly effective for anti-social engineering campaigns if it addresses the natural human curiosity that often leaves employees vulnerable.

• Partner, don’t police. Organizations testing their employees to see if they handle cybersecurity threats appropriately can inadvertently turn cyber training into a “gotcha” moment. Position cybersecurity protocols as working in partnership with their employees, not as police, by embracing a “see something, say something” policy instead. Make the process for reporting potential attacks and vulnerabilities simple enough that workers across all generations can seamlessly integrate it into their day-to-day lives.

• Incorporate hands-on AI training protocols. Including protocols that incorporate hands-on training for the use of AI in the workplace offers employees exposure to fundamental capabilities and risks. Having firsthand experience using new technologies like generative AI unlocks a new level of understanding and drives defensive thinking.

• Lead by example with responsible AI: Thirty-nine percent of employees are not confident that they know how to use AI responsibly, according to EY US research. As stewards of their organization, C-suite and senior leaders must embrace transparency surrounding how AI is developed and deployed enterprise-wide and demonstrate responsible AI practices themselves to mitigate risks.

Methodology

EY US commissioned a third party to conduct the 2024 Human Risk in Cybersecurity Survey. The online survey among n=1,000 full-time and part-time US employees ages 18+ whose current job requires the use of a work-issued laptop/computer (i.e., a tech-enabled professional). The sample was balanced across age, gender, household income, race and ethnicity, and region. The survey was fielded between March 7–15, 2024. The margin of error (MOE) for the total sample is +/- 3 percentage points.

 

Today Archer Aviation Inc. (NYSE: ACHR) provided an update on the construction progress of its high-volume manufacturing facility in Covington, GA, reaffirming an expected 2024 completion date.

In preparation for this facility’s completion, last week Archer showcased its Midnight aircraft at Atlantic Aviation’s new terminal at DeKalb–Peachtree Municipal Airport. Guests included government officials from Georgia’s Office of the Governor, Georgia’s Congressional Offices, the City of Atlanta, Georgia’s State Legislature, the Federal Aviation Administration and other local governments.

Archer completed the first build phase earlier this year—inclusive of grading and foundation work and is nearing completion of phase two—the erection of the exterior walls and roof. Phase three—interior fit out, and phase four—equipment load in and power on, are on track to be completed in the coming months.

Once complete, this facility will be nearly 400,000 square feet and will support Archer’s planned production of up to 650 Midnight aircraft annually, which would make it one of the largest manufacturing facilities by volume in the aviation industry. Archer’s buildout is taking place in close partnership with Stellantis, with the companies continuing to progress their plans to mass-produce Archer’s Midnight aircraft together.

Adam Goldstein, CEO and founder of Archer, said, “Thanks to the hard work of the Archer and Stellantis teams, we’re tracking towards completing this manufacturing facility by the end of the year. Once complete, we’ll focus on ramping production up to 650 aircraft a year—our goal is to be the first in the eVTOL industry to achieve scaled manufacturing.”

Midnight, Archer’s electric vertical take-off and landing aircraft, represents the potential for a significant step change for aviation. Built around Archer’s proprietary electric powertrain, Midnight is designed to offer passengers a sustainable, low-noise and safe alternative to ground transportation:

• Travels at speeds up to 150 mph, turning hour-long ground commutes into minutes in the air

• Designed for back-to-back flights of 20-50 miles with minimal charge time in between

• 100x quieter than a helicopter at cruising altitudes—nearly inaudible from the streets below

• Redundant systems across the aircraft allowing Archer to target similar levels of safety as commercial airliners

• Designed to carry a pilot, up to four passengers and carry-on luggage

The Metropolitan Atlanta Rapid Transit Authority (MARTA) has been awarded the Outstanding Public Transportation System Award by the American Public Transportation Association (APTA). MARTA won the award in the “50 million or more annual passenger trips” category.

The 2024 APTA Honors Awards recognize those in the public transportation industry in North America who have demonstrated significant leadership, are outstanding role models of excellence, and whose accomplishments and innovations have greatly advanced public transportation.

APTA based their selection on criteria across multiple categories: infrastructure development, technology and innovation, sustainability, equity, customer service, and community engagement.

The COVID pandemic fundamentally altered transit agency operations and the expectations of MARTA employees and the riding public, but MARTA rose to meet that challenge head on. MARTA did not lay off a single employee during these challenging years and has steadily regained ridership and trust throughout the Atlanta region.

“As we emerged from the pandemic, MARTA strengthened its commitment to enhancing transportation services in Atlanta across many different areas,” said Collie Greenwood, CEO and General Manager at MARTA. “By improving our transit system and prioritizing the needs of passengers, MARTA continues to play a vital role in connecting communities and promoting economic development in the Atlanta region.”

“It is my honor to congratulate the winners of the 2024 APTA Awards and the Hall of Fame inductees for their dedication to advancing the future of public transportation, creating vital connections between communities and driving innovation,” said APTA Chair Michele Wong Krause.

“The achievements and legacies of our awardees inspire us all to continue striving for excellence in our industry and to making a lasting impact on the lives of countless individuals,” said APTA President and CEO Paul P. Skoutelas. “Congratulations to all who have been recognized for their accomplishments and for making positive impacts in their communities and our industry.”

MARTA is currently advancing the agency’s largest capital expansion since its creation 45 years ago. The agency has launched award winning programs in every key area of the organization, and APTA annually recognizes MARTA’s innovations and customer-focused initiatives with awards in safety, security, marketing, sustainability, and communications. By improving its transit system and prioritizing the needs of passengers, MARTA continues to play a vital role in connecting communities and promoting economic development in the Atlanta region.

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