Rowan County Gaining Momentum in Economic Growth
With economic activity steadily growing in the area, construction and utility crews are becoming a common sight in Rowan County. For the second consecutive year, Rowan has earned the ranking of No. 8 in the nation for food processing locations. This ranking goes based on the Bureau of Labor Statistics employment data, expansions, and available workforce and programs for the industry.
Rod Crider, president of Rowan Economic Development Commission said in an interview with Salisbury Post, “Rowan County is a premier location for AgBiosciences and we’re proud to receive national recognition for our food processing potential. We have received significant interest from food processing companies interested in relocating or expanding here, and this ranking demonstrates why.”
The county is also abundant in natural resources, primarily the Yadkin River, which generates an average flow of two billion gallons of water a day. There are 400 different types of soil and more than 90 varieties of crops for Farmers in North Carolina, making it the state top-10 producer in 19 commodities.
Bouncing Back After Covid
With the world shutting down during the coronavirus outbreak, there were many concerns as to where the economy was headed but the Economic Development Council stuck to its mission, which was to promote and facilitate business retention and growth. Rowan county is currently home to 24 out of 50 largest food and beverage companies across the U.S.
In 2020, there was a 0.6% annual growth bringing the population from 140,296 to 146,875. The unemployment rate for Rowan County is sitting at 3.60% as of May 2022. Back in 2010, the county reached a historical record high of 16% and a record low of 1.90% in 1998. You can find the current demographics here.
Job Opportunities in Rowan County
In recent years, Rowan County has risen to be one of the top industrial submarkets in the region, bringing so much new development and businesses to the area to help grow the economy.
If you are looking for a new career or job, then look no further because there are currently many job opportunities that are available and thanks to the Rowan EDC, they’ve compiled available positions from more than 10,000 non boards, showcasing every publicly posted job by employers in Rowan County. Huge thanks to the Salisbury-Rowan Community Foundation for sponsoring the Work in Rowan job portal. You can start your search here.
Economic Growth in Rowan County
The Rowan Economic Development Council states that they have assisted in generating a thousand new jobs and 127 million in investment in Rowan County. Although Rowan County has lost two manufacturing companies in 2021, earlier this year, Macy’s announced that they chose China Grove to invest $584.3 million to build their 1.4 million square feet fulfillment center that plans on employing nearly 2,800 workers.
Back in January of this year, commissioners in Rowan County approved the $27 million tax incentive grant. This 15-year incentive grant would mean that the county will return 80% of the taxes paid by the company.
Macy’s Inc. comprises three retail brands: Macy’s, Bloomingdale’s, and Bluemercury. Operating one of the largest retail e-commerce businesses with more than 600 stores across.
Other companies who have recently expanded into the county include Hexagon Agility, Henkel, And Innospec.
The Rowan EDC has reported raising $1.4 million through a public-private partnership model called Forward Rowan. The funds are intended to attract and retain businesses as well as help the area’s workforce. Crider said that there are plans for new development at every exit on I-85, with more than 15 million square feet of planned and current construction underway.
To keep the continued success of growth in the county, it is important for economic leaders to avoid complacency and keep staying in the game by keeping an adequate inventory of existing buildings for any businesses that are looking to expand into Rowan County. The Rowan EDC was recently commended by the president and founder of an economic development and site location consulting practice that’s headquartered in Atlanta, for getting national attention with some of the mega development wins.
The Charlotte Regional Business Alliance is one of the top sources for being in the know with what’s going on in and around Charlotte, under the tab “Get the Data”, it provides you links to the Charlotte region demographics and the growth report to give you a glimpse in the direction that our area is moving towards and what to expect in the upcoming years.