News & Rankings


Economic Development January 2016 Recap

New & Expanding Companies

Peak 10 | Raleigh | Software/IT | Expanding 
National IT infrastructure and cloud services provider Peak 10, Inc. has opened its third data center facility in Raleigh. The expansion is a response to demand for Peak 10's managed services and data center solutions to support the Research Triangle region's continued growth as a technology hub. Peak 10's new Raleigh facility is contiguous to its two existing data centers and adds approximately 30,000 square feet to the company's local presence. The new data center includes office space and a state-of-the-art Technical Assistance Center designed for optimal customer support.

New & Expanding Metrics Since Jan. 2016

  Jan. 2016
New & Expanding Company Announcements 1
   Jobs N/A
   Investment N/A

Since the beginning of 2016, one company has announced relocation or expansion in Wake County.   

Project Metrics

Total Projects Received Since Jan. 2015 5
   Potential Jobs 375
   Potential Investment $85 billion
Client Visits 2
Active Projects 48
   Potential Jobs 8,090
   Potential Investment $2 billion

Since Jan. 1, 2016, Wake County Economic Development has received five new projects from companies considering relocations or expansions in Wake County. These projects would total 375 new jobs and approximately $85 million of investment if each were to successfully locate in Wake County. WCED has also hosted 31 client visits to the area. Currently, Wake County Economic Development is working on 48 active projects. These projects would total 8,090 new jobs and approximately $2 billion of investment if each were to decide to locate in Wake County. 

Recent News and Events: 

Business Recruitment & Retention

WCED Site Assessment Update 
The 2016 Site Assessment Program will officially kick off on Feb. 25. Municipal economic developers are currently completing a 30 question RFI that will answer questions on site utilities, transportation, and site characteristics. The answers will translate into a score to help determine how "ready" a site is. Each site in the program will receive recommendations on logical next steps towards industrial or commercial development. Last year the Site Assessment Program evaluated 5,000 acres across Wake County.   

WCED Moderates Panels at Disruptive Technology and the Future of Business Event 
The Greater Raleigh Chamber of Commerce hosted theDisruptive Technology and the Future of Business event on Jan. 20, focusing on how new innovations are changing business markets and models. Disruptive technologies describe a technology that displaces an established technology and shakes up an industry, or a ground-breaking product or invention that creates an entirely new industry. Michael Haley moderated both panels at the event. The first panel, entitled Disruptive Technologies: From Conception to Creation, focused on the entrepreneurial ecosystem's role in supporting the creation of disruptive technologies. The second panel focused on disruptive technologies and the future.

Talent Attraction & Development 

#TriangleTuesdays   
Every Tuesday, Wake County Economic Development hosts a virtual career fair through our @WorkTriangleNC Twitter account using #TriangleTuesdays . While this is not a new initiative, we have seen a renewed interest in this job service from both employers and potential employees. This increased interest is resulting in upwards of 30,000 unique impressions each Tuesday. In 2016, we will showcase jobs in the Triangle through the lens of an industry sector or workforce partner. Information Technologies, Life Sciences, Cleantech, and Entrepreneur resources are a few of the themes we have planned. In January, we featured the programs and initiatives of the Capital Area Workforce Development Board. Showcasing these industry assets is a two-pronged strategy to appeal to talent and industry.

RTCC Smart Series: Best Practices to Attract and Retain Talent   
The Research Triangle Cleantech Cluster held a panel discussion in January to discuss the outcomes of a workforce needs study conducted by RTI International. Wake County Economic Development partnered with RTCC and others to conduct this study which involved interviewing companies in the Cleantech cluster and gathering data. The panel, moderated by Sara Lawrence with RTI International, included the following companies: Strata SolarTE ConnectivityABB, and the U.S. EPA. The study, Talent Needs for the Energy and Technology Industry, can be found here.

Marketing & Public Relations 

Forbes Contributor Series: "8 Tips for Economic Developers to Harness the Power of Entrepreneurs"   
Forbes published "8 Tips For Economic Developers Hoping to Harness the Power of Entrepreneurs" by Council for Entrepreneurial Development President Joan Siefert-Rose. The piece highlights entrepreneurship as a key part of a community's economic development strategy, and best practices in harnessing the power of entrepreneurs for long-term growth. Wake County Economic Development Executive Director Adrienne Cole is featured, citing the City of Raleigh's unique and successful approach, as well as the business community's active engagement in supporting entrepreneurs and spurring innovation. 

Inbound Reporter Visit
WCED hosted a freelance reporter Jan. 27 --  28 who writes for Entrepreneur, CNNMoney, The Guardian, and several other top-tier national outlets. The two-day visit included meetings with local startups and key initiatives and companies that are driving entrepreneurship and innovation in Raleigh. The visit was part of WCED and the City of Raleigh's national storytelling campaign with the goal of showcasing Raleigh as a top hub for innovation nationwide.  

Recent Rankings:  

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

  • #1 City for Men Who Want to be Fit and Happy (Raleigh, NC) Men's Health | January 2016
  • #4 Metro for "Creative-in-Traded" Jobs (Raleigh, NC) CityLab | January 2016
  • #5 City of the Future (Raleigh, NC) Forbes | January 2016
  • #6 Most Future-Ready City (Raleigh, NC) Dell & IHS Economics Group | January 2016

Wake County Labor Market Statistics: 

 

Labor Force & Employment

 

Employment Rate Dec 2015 

Since December 2014, Wake County's labor force has increased by 33,837 and employment has increased by 31,732. This represents growth of 6.7 and 6.6 percent, respectively. 

Unemployment Rate

 Unemployment Rate Dec 2015

Wake County's unemployment rate (the proportion of those unemployed relative to the labor force) has increased from 4.1 percent in December 2014 to 4.3 percent in December 2015. This represents a 0.2 percent increase.  

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