New & Expanding Companies
Kadro Solutions | Raleigh | Software/Information Technology | Expanding
Kadro Solutions, an e-commerce-focused software firm, has signed a seven-year lease for 701 Corporate Center. The growth is driven by e-commerce successes. The new space is 14,423 square feet, compared to its former office of 5,616 square feet. Currently, the firm has 40 employees, but plans are in the works to eventually double its headcount. This year, the company plans to increase its team by 30 or 40 percent. Roles will likely include software engineers, account managers, and sales. Kadro will move into its new headquarters at the beginning of March.
Pivot Physical Therapy | Knightdale | Healthcare | Expanding
After only four months in the Triangle market, Pivot Physical Therapy has expanded again, this time adding a new location in Knightdale. In October, Pivot acquired ActivCare Physical Therapy, then a 10-clinic private practice co-founded by Brad Hancock and Charlie Caserta. The company, which currently sees 1,500 -- 1,800 patients per week, plans to grow to between 15 and 18 locations by the end of 2015.
Wake County Municipality Highlight:
Growth Rate: 4.1%
Tax Rate: $0.39
Bond Rating: AAA
Originally given the name "Apex" because it was the highest point on the Chatham Railroad line between Richmond, Va., and Jacksonville, Fla., it continues today as the "Peak of Good Living," a growing, thriving town of more than 40,000 people. Apex is able to maintain its small town charm due to thoughtful planning, attention to quality of life amenities, preservation of historic structures, and the celebration of multiple festivals and cultural events throughout the year. Read more >
New & Expanding Metrics Since January 2015
Since the beginning of 2015, five companies have announced relocations or expansions in Wake County. This accounts for the creation of 110 new jobs and investment of more than $13 million. Of those announcements, four (80 percent) are in Wake County Economic Development's cluster industries.
Project Metrics Since January 2015
Since Jan. 1, Wake County Economic Development has worked directly on 10 projects from companies considering relocations or expansions in Wake County. These projects would total 5,272 new jobs and more than $1.04 billion of investment if each were to successfully locate in Wake County. WCED has also hosted three client visits to the area.
Recent News & Events
Destination Marketing: "Upping their Game: When DMOs and EDOs Unite, Everyone Wins"
The Destination Marketing Association International, the world's largest resource for official destination marketing organizations, featured the strong collaboration between Wake County Economic Development, the Greater Raleigh Convention and Visitors Bureau, and the City of Raleigh Office of Economic Development as a case study for successful destination marketing and economic development partnerships. The three organizations have teamed up to market Raleigh for conventions that will introduce potential skilled workers in the areas of Life Sciences, Biotechnology, and CleanTech. To read the full story, click here.
Le Monde Features Citrix and SAS
One of France's top newspapers, Le Monde, highlighted Citrix in a story on high-tech companies that offer their employees perks and are dedicated to employee happiness. The online French version can be viewed here. The article cites Jesse Lipson, vice president and general manager of Citrix, and emphasizes the unique amenities available at the Raleigh Citrix office. The story also features a mention of SAS as an international company that places high importance on employee happiness. The article is a result of WCED and the City of Raleigh Office of Economic Development's national media campaign.
CNNMoney Story: "5 startups that are reimagining the world"
CNNMoney.com featured four local startups in an article titled "5 startups that are reimagining the world." The story is focused on social entrepreneurship startups that have made a positive impact on the world. The four local startups highlighted include Walk [Your City],bioMASON, Tethis, and Organic Transit. The story positions Raleigh, Wake County, and the Research Triangle region as a top startup hub while highlighting some of our valuable assets, including NC State University and a community of smart, talented people who are striving to make the world a better place. The article was featured on CNNMoney.com's homepage as one of the top stories on its release day. The story is a result of WCED and the City of Raleigh Office of Economic Development's national media campaign.
WCED partnered with NC State University to host a defense technology industry networking event on Feb. 19. The event brought together more than 45 people representing 42 companies in the sector for an evening of networking. "The defense technology industry represents a nexus of key strengths in our region----military and information technology," said Michael Haley, director of Business Recruitment and Expansion. These companies rely on the educational assets of the region's universities, colleges, and Wake Tech Community College for a highly educated and trained workforce. In addition, proximity to Camp Lejeune, Fort Bragg, and Seymour Johnson means some of the most highly skilled military personnel can be easily brought on board after their military careers.
Global Manufacturing Summit
Ashley Cagle, project manager for WCED, traveled to Orange County, Calif., to attend the 7th Annual Global Biomanufacturing Summit in February. Designed to enhance collaboration, discussion, and networking amongst the biological manufacturing community, the Bioman Summit provided a perfect audience to promote Wake County. In partnership with the NC Biotech Center and Duke Energy, WCED was able to speak one on one with companies discussing industry trends and promoting the many workforce efforts that make our area unique. These efforts have made Wake County attractive to the more than 400 life science companies that call the Research Triangle region home and is a large contributor to North Carolina being the No. 4 Best State for Biotechnology.
CleanTech Press Tour: Feb. 25 -- 27
On Feb. 25 -- 27, WCED and the Research Triangle CleanTech Cluster partnered to host a press familiarization tour to provide national, international, and trade journalists with a behind-the-scenes look at local cleantech companies, organizations, and research institutes. The goal of the tour was to showcase Raleigh, Wake County, and the region as a global hub for cleantech research, development, talent, and innovation, and for reporters to publish articles that feature the companies they met with as well as positive messages about the Wake County's cleantech economy. Reporters who visited the region represented publications including The Huffington Post, Clean Edge, FierceMarkets' Energy Group, CBS Interactive, TreeHugger, TechRepublic, Techopedia, EnerG Magazine, Smart Grid Today, and China-based Xinhua News Agency. The press tour was part of WCED and the City of Raleigh Office of Economic Development's national media campaign. Click here for a press release announcing the tour.
For a full list of rankings, please download the Raleigh/Wake County Rankings Flyer.
Wake County Labor Market Statistics
Labor Force & Employment
Since December 2013, Wake County's labor force has increased by 5,007 and employment has increased by 9,080. This represents a growth of 1.01 percent and 1.92 percent, respectively. The number of those unemployed----displayed in the graph above as the differential of labor force and employment----has fallen by 14.9 percent.
Wake County's unemployment rate, the proportion of those unemployed relative to the labor force, has fallen from 5 percent in December of 2013 to 4.1 percent in December 2014. This represents a 0.9 percent decrease.
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