By: Kyle Touchstone

Director, Raleigh Economic Development

The economic mobility study is a crucial benchmark for Raleigh Economic Development‘s ongoing efforts. It helps us understand the community’s opportunities and challenges, enabling us to take proactive steps toward smart and inclusive growth for everyone. We also regularly share our economic mobility initiatives with clients, as businesses are keen to learn about the strategies we have in place to serve all community members.

The report ranks the Raleigh metro 9th out of 155 MSAs, showing strong performance in leadership representation, economic opportunity, and education but weaker outcomes in economic security. Although the Raleigh metro was recognized as a top performer in the Southeast region, how does RED sustain its focus on economic mobility amid Raleigh’s rapid development and growth?

• Target Growth Area Identification: Communities were identified using an index provided by the U.S. Census Bureau’s American Community Survey, which measures poverty, unemployment, demographics, housing, and education.
• Targeted Growth Area Incentive: New or existing companies may be eligible for a Business Development Grant when locating or expanding in a designated Targeted Growth Area, provided their investment and job creation thresholds meet or exceed the minimum outlined below.
• Upward Mobility Bonus (5% additional of new tax growth): The bonus is intended to encourage business practices that reduce barriers to employment and economic mobility,

The report is an essential tool for our economic development strategy. It identifies systemic barriers and will guide our efforts to foster more inclusive economic growth in Raleigh and throughout the region.