Peach Bottom Outage: Influx Of Workers Creates Economic Opportunity

Every year when Peach Bottom Atomic Power Station shuts down one of its reactors for maintenance, several thousand workers flock to Peach Bottom Township in south York County.

The workers pour money into local businesses, but there aren’t nearly enough hotel rooms.

Peach Bottom Township’s one hotel, the Peach Bottom Inn & Restaurant, stays booked, but thousands more outage workers drive to hotels in Aberdeen or Bel Air in Maryland.

Meanwhile, some area businesses and residents have tapped into the need for lodging by renting campsites and rooms.

Some say the region could do more to capitalize on the workers’ need for lodging and other needs. But with little else driving people to the region, others say that south York county is already doing all it can.

Read more: http://www.ydr.com/local/ci_27028610/peach-bottom-outage-influx-workers-creates-economic-opportunity

Natural Gas Boom Fuels U.S. Office Market

Locator map of the Greater Pittsburgh metro ar...

Locator map of the Greater Pittsburgh metro area in the western part of the of . Red denotes the Pittsburgh Metropolitan Statistical Area, and yellow denotes the New Castle Micropolitan Statistical Area, which is included in the Pittsburgh-New Castle CSA. (Photo credit: Wikipedia)

Bloomberg — Leasing demand from natural-gas and other energy companies is helping to bolster the U.S. office market and drive growth in cities such as Pittsburgh, where rents are at their highest in more than a decade.

Greater Pittsburgh, along with Houston and other cities with concentrations of energy-related workers, is outpacing national growth in rents and occupancy, according to a report today from Reis Inc., which showed U.S. office landlords had net gains in leased space for a second year in 2012, following three years of declines.  Tenants in energy, along with technology, helped push the national vacancy rate to a three-year low.

In the fourth quarter, greater Pittsburgh office rents after landlord concessions climbed 1 percent from the previous three months, compared with 0.8 percent for the U.S., while the area’s vacancy rate held at 15.5 percent, below the national average of 17.1 percent, New York-based Reis said. Pittsburgh tenants paid an average of $17.68 a square foot in the fourth quarter, the highest since 2000, ranking it 12th out of 79 markets for growth.  In Houston, effective rents rose 1.7 percent, the fifth-most nationwide.

Read more:  http://www.mcall.com/business/mc-energy-office-market-20130107,0,3658617.story