Chatham County Economic Development UpdateUNITED WAY OF CHATHAM COUNTY CAMPAIGN KICK-OFF

Economic Development Update• Chatham County Profile• The Need for Economic Development•Major Projects•Megasites

Chatham County ProfileUNITED WAY OF CHATHAM COUNTY CAMPAIGN KICK-OFF

Economic Indicators• Population: 70,928 (July 2015)

◦ Fastest growing between 2014-2015

• Labor Force: 33,331 (June 2016)

• Unemployment: 4.4% (June 2016)◦ 4th lowest in NC

• Jobs: 14,179 (Q1 2016)

• Average Weekly Wage: $643.27 (Q1 2016)

◦ State Average: $927.78

Population Growth 2010-2015

Wake Chatham Durham Orange

13.7%

11.7% 11.5%

5.7%

Unemployment Rate

Jun '15 Jul '15 Aug '15 Sep '15 Oct '15 Nov '15 Dec '15 Jan '16 Feb '16 Mar '16 Apr '16 May '16 Jun '163.5%

4%

4.5%

5%

5.5%

6%

6.5%

Chatham County North Carolina

Jobs

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 201612,000

12,500

13,000

13,500

14,000

14,500

15,000

15,500

16,000

16,500

17,000

Chatham County

Average Weekly Wage

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 $500

$550

$600

$650

$700

$750

$800

$850

$900

$950

$1,000

Chatham County North Carolina

Carolina Meadows•

• Pittsboro• Siler City

• Goldston

• FearringtonVillage

•Governors ClubBriar Chapel •

Moncure •

The Need for Economic DevelopmentUNITED WAY OF CHATHAM COUNTY CAMPAIGN KICK-OFF

Bedroom Community Impact• 54.7% of resident labor force

commutes out of the County an average of 27.1 minutes

• $0.63 of every consumer dollar is spent outside Chatham County

• Estimated loss in sales tax revenue = $9M

40%

27%

18%

15%

County Revenue Sources

Property TaxesOtherIntergovernmental TransfersSales Tax

North Carolina Department of Revenue; Chatham County Tax Office

Chatham County Tax Base

Residential $8.4 Billion 80.19%

Present-Use $1.2 Billion 11.78%

Commercial $0.7 Billion 6.93%

Industrial $0.1 Billion 1.1%

Other $0.0 Billion 0.00%

Total$10.4

Billion

100.00

%

80.19%

11.78%

6.93% 1.1%

Residential Present-useCommercial Industry

92%

8%

Chatham County Tax Office

Cost of Community Services

Residential Commercial Farmland

$1.14

$0.33

$0.58

Department of Agricultural and Resource Economics, North Carolina State University, 2007

Major ProjectsUNITED WAY OF CHATHAM COUNTY CAMPAIGN KICK-OFF

Mountaire Farms

Brookwood Farms

Alotech

Russet Run

MegasitesUNITED WAY OF CHATHAM COUNTY CAMPAIGN KICK-OFF

Chatham-Siler City Advanced Manufacturing Site

www.chathamadvancedmanufac tur ing .com

Chatham-Siler City Advanced Manufacturing Site

www.chathamadvancedmanufac tur ing .com

Chatham-Siler City Advanced Manufacturing Site

www.chathamadvancedmanufac tur ing .com

Chatham-Siler City Advanced Manufacturing Site

www.chathamadvancedmanufac tur ing .com

Chatham-Siler City Advanced Manufacturing Site

www.chathamadvancedmanufac tur ing .com

Moncure Industrial Site

Moncure Industrial Site

Moncure Industrial Site

Site Readiness ProgramPotential Target industries:• Auto parts• Aviation parts• Plastics

Connect

Kyle TouchstonePresident, Chatham EDC

ktouchstone@chathamedc.org919-542-8274

www.chathamedc.org