Governors Club

Economic Development Update

Chris Ehrenfeld, Chair

Chatham Economic Development Corporation

Dianne Reid, President

Chatham Economic Development Corporation

March 2015

AGENDA

• Chatham County profile and the need for

economic development

• What is the Chatham EDC?

• Education in Chatham County

• Three Major Proposed Developments

CHATHAM COUNTY PROFILE

• Square Miles: 709(#20 largest of 100)

• Population: 66,817(July 2013 estimate)

• Workforce: 33,628(Dec. 2014)

• Number of Jobs: 14,484(Q2 2014)

• Unemployment: 3.8%(Lowest in state, Dec. 2014)

• Average Weekly Wage: $626(State average $818, Q2 2014)

CHATHAM COUNTY INDUSTRIES

• Agriculture

1,100 farms - largely livestock & poultry

Market value of products sold >$163M (2012)

Manufacturing

Food manufacturing, wood products

Declining base with loss of poultry plant

• Other: Wholesale, Retail, Construction, Real Estate,

Health Care, Professional & Technical Services, Social

Assistance

THE NEED FOR

ECONOMIC DEVELOPMENT

CHATHAM COUNTY

PRIVATE SECTOR JOBS DECLINE

• Manufacturing was 34% of Chatham jobs in 2005

• Manufacturing jobs decline exceeds new jobs added since 2005:

0

5000

10000

15000

20000

2002 2003 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Private

Public

Total

CHATHAM COUNTY IMPACT

AS A “BEDROOM COMMUNITY”

• 55% of resident labor force commutes out of the County an average of 26 minutes

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

• Estimated loss in Chatham sales tax revenue = $9M

40%

27%

18%

15%

County Revenue Sources

Property Taxes

Other

Intergovernmental Transfers

Sales Tax

Residential $6.5 Billion 77.13%

Present-Use $1.2 Billion 13.92%

Commercial $0.6 Billion 7.49%

Industrial $0.1 Billion 1.46%

OtherTotal

$0.0 Billion$8.4 Billion

0.00%100.00%

CHATHAM COUNTY TAX BASE

ResidentialPresent-UseCommercialIndustrial

Tax Parcels by Type

COST OF COMMUNITY SERVICES

$1.14

$0.33

$0.58

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

Residential Commercial Farmland

Services Cost per $1 in Tax Revenue

Residential

Commercial

Farmland

Source: Cost of Community Services Study 2007

WHAT IS THE

CHATHAM ECONOMIC

DEVELOPMENT CORPORATION?

ABOUT CHATHAM EDC

The Chatham Economic Development Corporation

is a private, non-profit organization working to make

Chatham County the preferred location for emerging

growth companies.

By attracting new companies, helping existing businesses and

assisting new ventures, the Chatham EDC encourages new job

creation and private investment in property and equipment.

CHATHAM EDC OBJECTIVES

AttractionTarget established businesses located outside the county and encourage

them to move into Chatham

Retention and ExpansionSupport established businesses within Chatham County, to maintain

existing jobs and help firms grow

EntrepreneurshipHelp small businesses locate resources and support, including

technical and marketing assistance and financing sources

Recent Chatham EDC Projects: ATTRACTION

EDUCATION

IN

CHATHAM COUNTY

CHATHAM COUNTY SCHOOLS

(CCS); K-12

17 public schools employing 1,200+ people

3 high schools (1 alternative HS), 3 middle

schools, 5 K-8 schools, 5 elementary schools

Average CCS teacher salary is $49,005

86.7% teacher retention rate

Higher than Chapel Hill, Durham & Orange

8,300 students – diverse student body

CHATHAM COUNTY SCHOOLS

Graduation Rates

65

70

75

80

85

2006 2007 2008 2009 2010 2011 2012 2013

Graduation Rate

GraduationRate % byYear

CHATHAM COUNTY SCHOOLS

All 17 schools met or exceeded growth on

federally required Annual Measureable Objectives

Only 14 school districts in state accomplished this

CCS was the largest district in the state to do this

Evaluating schools

Proficiency (Achievement) vs Growth (Improvement)

CHATHAM COUNTY SCHOOLS

Schools Governors Club children attend:

North Chatham Elementary

Margaret Pollard Middle School

Northwood High School

Daily Beast (formerly Newsweek) ranked it as one of

the Top High Schools in America 2014-2015

#6 Best High School in NC by US News & World

Report in 2013

Washington Post “Challenge School” in 2013

CENTRAL CAROLINA

COMMUNITY COLLEGE

Public, non-profit 2-year college

Associate in Arts, Associate in Science, Applied Science,

certificate programs, adult education courses

Campuses in three counties (Chatham, Lee & Harnett)

CENTRAL CAROLINA WORKS

Collaborative dual enrollment

project

High school students earn college

credit by taking CCCC classes

while still in high school

Classes are tuition-free for high

school students

Texas model: Students twice as

likely to enroll in and complete

post-secondary education

Enabling Greater

Economic Development

3 MAJOR PROPOSED

DEVELOPMENTS

MAJOR PROPOSED

DEVELOPMENTS

Proposed Industrial, Commercial and Office

Space

• Moncure Super Park – 1,400 acres

• Chatham-Siler City Advanced Manufacturing Site

(CAM Site) – 1,800 acres

• Chatham Park – 7,000 acres

Major proposed Development:

MONCURE SUPER PARK

MONCURE SUPER PARK

POTENTIAL TARGET INDUSTRIES:

Duke Power’s Site Readiness Program Results

MONCURE SUPER PARK

• Auto parts

• Aviation parts

• Plastics

MAJOR DEVELOPMENT:

FIRST AND ONLY STATE

CERTIFIED MEGASITE IN NC

Chatham-Siler City Advanced Manufacturing Site received State Certification on June 11, 2014

MAJOR DEVELOPMENT:

CHATHAM PARK

• 7,000+ acres

• Live, Work, Play Community

Live - 22,000 residences

Work - 22 million sf of commercial space

Play - 2,000 acres of parks & open space

• 30-40 year build out

PLANNING

FRAMEWORK:

• Commercial along

Highways 64 & 15-

501 and future

15-501 Bypass

• Residential oriented

toward stream valleys,

the Haw River and

Jordan Lake

PLANNING

FRAMEWORK:

• Locate commercial

near Pittsboro and

Highways

• Link new

neighborhoods

to the Haw River

LIVE…

WORK…

• 22 million sq ft of commercial space

16.6M sq ft office; 2.4M sq ft commercial;

2.5M sq ft civic

Technology, biotech, clean tech and medicine

• Economic impact over 40 years

$154 billion for NC; $80 billion for Chatham

61,000 permanent jobs in Chatham

WORK…

PLAY…

UNC Medical Office Building

Groundbreaking Dec 2, 2014

Governors Club Vicinity Map

WHAT SUCCESSFUL ECONOMIC

DEVELOPMENT MEANS

For Residents

Larger and more

diverse tax base

Easier access to

medical facilities,

shopping, etc.

Greater opportunities

for local employment

For Business Owners

Larger consumer

base and employee

pool

Increased business

traffic

Business to business

opportunities

GET INVOLVED

Dianne Reid

President, Chatham EDC

dreid@chathamedc.org

919-542-8274

www.chathamedc.org

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