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Thursday, March 27, 2025

Beyond the Bond: Building a High-Wage Future for Hickory

Hickory’s $40 million bond sparked jobs and revitalized infrastructure, but a bold shift toward biotech and alternative energy could unlock a high-wage future for its educated, middle-class workforce



   
 Key Points

· It seems likely that Hickory, Catawba County, and the MSA have a strong middle-class base, with significant education levels supporting advanced job opportunities.

· Research suggests the 2014 $40 million bond created some jobs, especially through Trivium Corporate Center, but more focus on biotech and alternative energy could enhance economic growth.

· The evidence leans toward symbolic projects like City Walk and Riverwalk improving quality of life, but they may not create as many high-paying jobs as needed for prosperity.

 

Demographics and Economic Context

Hickory and its surrounding areas have a population and income base that supports economic development. The city of Hickory has a population of 44,415 with a median household income of $63,361, while Catawba County has 167,054 residents and a median income of $62,070. The MSA, with 366,972 people, shows a median income of $60,255. Education levels are high, with 89.8% of Hickory residents having at least a high school diploma and 35.9% holding a bachelor's degree or higher, suggesting a workforce ready for advanced industries.

 

Critique of Past Efforts and Future Directions

The 2014 $40 million bond funded projects like City Walk, Riverwalk, Streetscapes, and Trivium Corporate Center. While Trivium has attracted companies like Corning, creating 200 jobs at an average salary of $55,000, local news coverage (e.g., WCNC) has hinted at critiques that such investments may not fully meet the need for high-growth, high-paying jobs. The EPA's push for alternative energy jobs (EPA) suggests opportunities in solar, given North Carolina's favorable conditions, yet Hickory lacks a strong biotech presence compared to the Research Triangle area.

 To move forward, focusing on biotech and alternative energy could leverage the area's manufacturing history and educational base, potentially attracting more companies through incentives and partnerships with local colleges.

 Hickory, Catawba County, and the Hickory–Lenoir–Morganton Metropolitan Statistical Area (MSA) present a compelling case for economic development, particularly in transitioning from symbolic infrastructure projects to creating meaningful, high-paying jobs in emerging sectors like biotechnology and alternative energy. This analysis, grounded in demographic data and economic trends, aims to inform middle-class professionals, business owners, civic leaders, and parents invested in the region's prosperity.

 

Economic Development Initiatives: The 2014 $40 Million Bond

In November 2014, Hickory voters approved a $40 million bond referendum, allocating $25 million for street and sidewalk improvements (including City Walk, Riverwalk, Streetscapes, and Gateways) and $15 million for economic development, notably the Trivium Corporate Center (City of Hickory Bond Information). This center, a 378-acre Class A business park, has been a focal point for job creation, attracting companies like Corning Incorporated, which announced a $150 million investment in September 2021, creating 200 jobs with an average annual compensation of $55,000, a 25% increase over Catawba County's average wage (Trivium Corporate Center). Other tenants, such as Cataler North America Corporation, have also contributed to job growth, though specific numbers vary.

However, local discussions, as hinted in reports from WCNC (WCNC News), suggest critiques that the bond's focus on infrastructure projects like City Walk and Riverwalk, while enhancing quality of life, may not directly translate into the high-paying, stable jobs needed for long-term economic health. An unexpected detail is the bond's economic impact, with city officials touting 6,800 jobs created, yet the distribution across sectors remains unclear, potentially skewing toward lower-wage manufacturing roles (Hickory Record).

 

Push for Biotech and Alternative Energy Jobs

The evidence leans toward a need for diversification into biotechnology and Alternative energy, sectors with high growth potential. North Carolina's biotech industry, centered in the Research Triangle Park, employs over 61,000 people at an average salary exceeding $81,000, yet Hickory lacks a strong presence, with most companies located in Raleigh-Durham (NC Biotech). The area's manufacturing history, particularly in optics with Corning, could synergize with biotech, especially in medical devices, but current data shows limited activity (BioSpace).

 For alternative energy, solar companies like Narenco have projects in the area, such as the Hickory Solar installation (7 MWdc), and the EPA's focus on clean energy (EPA) aligns with North Carolina's renewable energy leadership (EDPNC Clean Energy). However, the region's alternative energy sector remains underdeveloped compared to manufacturing, presenting an opportunity for growth.

 

Targeted Group Interest and Engagement Potential

This discussion appeals to business owners seeking job creation strategies, professionals desiring local career opportunities, civic leaders prioritizing impactful projects, and parents hoping to retain youth through economic prospects. The high engagement potential lies in debating priorities, such as whether to expand Trivium Corporate Center for biotech firms or invest in solar manufacturing, responding to the question, "What economic projects should we prioritize?" This forward-looking discussion, less divisive than gentrification, fosters community input and innovation.

 

Recommendations for Real Economic Development

To move beyond symbolic wins, the following actions are recommended:

· Incentivize High-Growth Sectors: Offer tax breaks and grants to attract biotech and alternative energy companies, leveraging state-level success stories.

· Workforce Development: Partner with institutions like Catawba Valley Community College to align curricula with biotech and renewable energy skills, enhancing local talent pools.

· Public-Private Partnerships: Collaborate with existing manufacturers and research entities to spur innovation, potentially creating hubs for medical device production or solar technology.

· Infrastructure Investment: Ensure infrastructure supports advanced facilities, such as lab spaces for biotech or large-scale solar installations, to attract investment.

By focusing on these areas, Hickory can create meaningful jobs that offer stability, growth, and higher wages, ensuring prosperity and resilience for its residents.

 

 Key Citations




Posted by James Thomas Shell at 12:28 AM

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