News & Rankings


Economic Development December Recap

Featured Project: 

 

Overland Contracting Inc | Garner | Engineering & Construction | New

Overland Contracting Inc.----a company that provides comprehensive engineering, procurement, and construction services in energy, water, and telecommunications----will open its headquarters in Garner. The announcement includes 89 new jobs and $8.4 million investment in Wake County over the next three years. The facilities being built will support more than 90 of the company's professionals, including its leadership and management teams. New employees will include project construction positions and operational associates to handle procurement, finance, and human resources. Salaries will vary by job function, but the average annual payroll for the new jobs is approximately $7.4 million. 

 

Wake County Economic Development, in partnership with the NC Department of Commerce and Economic Development Partnership of NC, town of Garner, NC Community College System, and Wake Technical Community College, helped make this project possible. 

 

To learn more, read the full story.     

New & Expanding Companies 

 

PointSource | Raleigh | Software/IT | Expanding

PointSource, an information technology company, expects to add more than 100 employee positions over the next five years. The company recently leased 27,500 square feet of space at the Northchase II office building on Six Forks Road.    

Wake County Municipality Highlight: Garner  

 

With nearly 27,000 residents, Garner is one of Wake County's fast-growing towns, experiencing a 47 percent jump in population since 2000. Garner's rapid growth is expected to continue as both residential and commercial construction are increasing at significant rates. Garner's outstanding quality of life and strong community spirit have received plenty of notice recently, as evidenced by online rankings as well as the town's designation as an All-America City. Both private- and public-sector investment will shape Garner over the next several years with the town's voter-approved bond program kicking into top gear. Garner continues to aggressively market the Garner Technology Center, a premier industrial site in Wake County with 98 acres fronting Interstate 40, all utilities available on site, a new wastewater pre-treatment plant, and a possible incentive package worth millions of dollars. The news from this booming town underscores why Garner is a great place to be. Read More >

New & Expanding Metrics Since January 2014 
  
 

 

Jan. -- Dec 2014

New & Expanding Company Announcements

77

Jobs

4,541

Investment

$474,450,000



 

Since the beginning of 2014, 77 companies have announced relocations or expansions in Wake County. This accounts for the creation of 4,541 new jobs and investment of more than $474.4 million, and reflects a 73 percent increase in announced investment from the previous year. Of the 2014 announcements, 50 (65 percent) are in Wake County Economic Development's cluster industries.  

 

 

Project Metrics Since January 2014 

 

 

Jan. -- Dec. 2014

Projects Received

100

Client Visits

30

Potential Jobs

15,005

Potential Investment

$2,948,270,650

 

Since Jan. 1, 2014, Wake County Economic Development has worked directly on 100 projects from companies considering relocations or expansions in Wake County. These projects would total 15,005 new jobs and more than $2.948 billion of investment if each were to successfully locate in Wake County. WCED has also hosted 30 client visits to the area. 

Recent News & Events 

 

Regional Economic Developers Meet with New York City Site Selectors

Michael Haley, director of business recruitment and expansion for Wake County Economic Development, participated in a trip to New York City on Dec. 18 to visit with site selection consultants. The Research Triangle Regional Partnership organized the event, which featured a lunch, reception, and presentation from MetLife on why the company selected Wake County and the Research Triangle Region for its new global technology operations center. MetLife cited the abundance of talent, world class universities and partnerships, and a welcoming community as primary drivers in their location decision. New York City area site selection consultants and a representative from Invest in France joined economic development teams from Chatham, Durham, Johnston, and Wake counties, affording local economic developers the opportunity to make new connections with site selectors and demonstrate our region's collaborative nature and strength.  Duke Energy, PSNC Energy, Kilpatrick Townsend & Stockton, and Piedmont Natural Gas sponsored the event. 

Recent Rankings  

 

For a full list of rankings, please download the Raleigh/Wake County Rankings Flyer.

  • #1 Nicest Housing Market (Cary, NC) 
    RealtyTrac 
  • #3 City for Minorities in Computing (Raleigh, NC) 
    Change the Equation 
  • #5 Best U.S. City with the Largest Homes (Raleigh, NC) 
    24/7 Wall St. 
  • #7 Best Large College City (Raleigh, NC) 
    WalletHub 
  • #10 Best City in America in 2014 (Raleigh, NC) 
    Movoto 
  • #10 Best City for Singles (Raleigh, NC) 
    WalletHub

Wake County Labor Market Statistics  

 

Labor Force & Employment

  

  

Since November 2013, Wake County's labor force has increased by 7,883 and employment has increased by 12,736. This represents a growth of 1.5 percent and 2.7 percent, respectively. The number of those unemployed----displayed in the graph above as the differential of labor force and employment----has fallen by 18.5 percent. 

 

 

Unemployment Rate

 

 

 

Wake County's unemployment rate, the proportion of those unemployed relative to the labor force, has fallen from 5.3 percent in November of 2013 to 4.2 percent in 2014, representing  a 1.1 percent decrease.  Additionally, Wake County's current unemployment rate is lower than the state and national rates of 5.3 percent and 5.5 percent, respectively.

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