How about residential?
We’ve become the ninth-largest state in population, and with our degree of in-migration, residential will continue strong. We see growth particularly in multifamily, but also with low interest rates, in single-family.
It’s interesting that your 9,000 employees are scattered at more than 400 locations in 27 states and Canada. Why is that?
From a certain distance, the cost of getting materials to a project can be as much as the materials. That’s why we have leading positions in Charlotte, the Triad, here in the Triangle. But it’s also why we also are significant employers in smaller communities, such as Belgrade in eastern North Carolina, and Hickory.
How is North Carolina as a place to do business?
It’s great. We have a tax rate that’s attractive and competitive. Our three largest states by revenue are Texas, Colorado and North Carolina. They’re all attractive. But when we’re looking to attract talent, it’s easy to get people excited about moving to Raleigh.
How long has your company operated in the state?
We’ve got deep roots back to Superior Stone and the Ragland family in Raleigh prior to World War II.
Members of the Nye clan studied at UNC, Duke and Wake Forest. Does that make for some sporty dinner table talk?
I’m a dark blue Duke guy, but we’re three generations deep at Duke and Wake Forest. My mother went to medical school at Duke, I went to undergraduate school there, and I got my law degree at Wake in 1987. My son is a senior at Duke and he will be at Wake Forest law school next year.