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beyonce245

Greensboro Economic Development & News

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I searched several pages of topics to find a forum similar to this one, but I could not. So I decided to begin the discussion. While development in downtown Greensboro is important, we must recognize the significance of other parts of the city and the role they play in our local economy.

I'll start this forum with news from a Biz Journal article out of Houston from this past Thursday. The article, using "employment figures released Tuesday by the U.S. Bureau of Labor Statistics" ranked the nations top 100 employment markets in terms of raw change in job gains or losses. In North Carolina, Raleigh was the only market that posted a gain in jobs from November 2007 to November 2008. All other major areas posted losses. However, while we recognize that any loss of jobs is unfortunate, Greensboro has seemed to fair better than most other major employment markets.

The report ranks Greensboro 23rd, having lost a net of 100 jobs between November 2007 - November 2008. I have scoured the list several times and there is no mention of Winston-Salem. Therefore, I am inclined to believe that although the report names Greensboro, it may actually be referring to the Triad metropolitan area.

Either way, it's good to know that the Triad has held up relatively well during this period of economic decline. Hopefully local leaders will continue to effectuively use incentives and tax concessions to lure more companies and quality, good-paying jobs to Greensboro and the Triad.

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While these numbers may look good, I don't know how they can be accurate. They unemployment rate in the Triad is at 8%, which is higher than the state average. Read about it here.

The numbers in Guilford alone jumped a full percentage point to 7.7% from Oct-Nov. Forsyth is not doing much better reporting a 7.1% number. This was before the December bloodbath in unemployment.

We also have to hear how many Wachovia employees are going to be laid off by Wells Fargo in Winston-Salem, Dell could potentially be selling their factories including the one in Forsyth, not to mention we could see the closure of many of our retail stores.

I would not say our economy is holding up well...

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In all fairness, we do not know for sure if Wells plans on laying off any of our Wachovia workers. It does seem likely, but we dont know until its official. The merger wont be fully complete for another 3 years so it could be a long time before we know the fate of our operations.

According to the monthly Triad Index:

Jobs

Increased by 2 percent in Winston-Salem over the past 12 months.

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I searched several pages of topics to find a forum similar to this one, but I could not.

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Off topic: In my opinion, "Triad Business Notes" is for all of the extra news and information tid-bits that get reported in the media that affect the regional area.

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