There are many people who believe that the problem with the economy locally is that the national economy is bad and as soon as the national situation improves our problems will be over. While I agree that the national situation is the main culprit currently, we have structural problems here in Hickory that go beyond the national picture. And for the mayor, with the tacit approval of the City Council, to encourage our citizens to just wait apathetically until Obama delivers a healthy economy to us is irresponsible and just plain wrong.
Since the furniture and textile industries shed massive amounts of jobs at the turn of the millennium, our City has failed to recognize that we have to fundamentally restructure the economy of this area. Our leaders have been passive, just hoping that this may be the year things turn around for us. But the facts are that in the good years, Hickory ’s economy didn’t grow as fast as the U.S. as a whole. And when we had down years Hickory’s economy fell further than the U.S. as a whole. This is telling us all the story is not to be found in Washington D.C. And when the nation does rebound there is no reason to believe it will be any different.
I would like to point out some economic challenges we are going to face. First, our tax base has shrunk. Real estate values have dropped and a lot of machinery is no longer here. Our City budget has been cut and we have not filled some positions. Since there are fixed costs that can’t be cut, we don’t have a lot more room to cut, so there is an increasing threat that tax rates will have to go up to pay the bills we have to pay.
While our leaders crow about Target coming to Newton, Google coming to Lenoir, and Apple coming to Maiden, Hickory got a couple of call centers and it looks like one of them, a start up, is in trouble and it may not make it. It’s good for the area as a whole to attract businesses, but if they are not in Hickory , WE DON’T GET ANY TAX REVENUES. We have to rebuild our tax base and with the inconsistent attitude toward businesses, like my opponent, Mrs. Patton, who was against Lowes and initially against the Zagaroli project beside Clark Tire, we have sent mixed signals to the business community. WE NEED TO BE OPEN FOR BUSINESS IN HICKORY .
Secondly, our sales tax base in under threat. More products are being purchased on the internet. We don’t get sales taxes for that. Conover and Granite Falls now have Wal-Marts and are developing their retail business areas. Other communities near us can be expected to do the same. Unless we act we can expect a steady decline in the number and frequency of shoppers coming to Hickory and sales taxes will decline as well.
Thirdly, and maybe most sadly, our kids are leaving. As Thom Shell pointed out in a study posted on the Hickory Hound blog, the number of young folks in Hickory has only increased by approximately 100 in the last decade while the population of older residents has gone up by over 10%. Young people are the ones who bring energy, buy more goods and services and have children, so our future vibrancy is leaving Hickory for greener pastures.
Looking at these trends facing us, I think it is irresponsible, morally disgusting, and dangerous for City leaders to be encouraging apathy and passivity in the face of the known challenges we face, to say nothing of the unknown situations that will inevitably arise. We have to shout the alarm and wake this area up before we deteriorate any further.
We need to be laying a foundation now for the future. I don’t have the room to flesh out every idea but some of my ideas include:
* Develop an entertainment industry to attract people to visit Hickory. This would enhance our restaurant and retail as well as appeal to young people. Facilitate a water park, like Concord and Greensboro have, encourage a go-cart track, and maybe a mid-sized concert venue are possibilities.
* Encourage the development of broadband and tech based services.
* Try to develop relationships with the emerging new energy businesses in Charlotte. We should also partner with the County since they are already moving into biodiesel.
* Encourage local entrepreneurs. Help our local citizens who have ideas, but need mentoring in areas they don’t have skills in, like raising capital or market research.
We can’t be lulled into a false sense that all will be well when the recession is over. Our current leaders blame Obama and Perdue for our problems because they don’t want to be blamed for our malaise. But the U.S. didn’t build Hickory and the U.S. won’t revitalize and rebuild Hickory . We need new leadership and hard work.
Harry Hipps for Council
Sunday, August 2, 2009
Thursday, July 30, 2009
Hickory Metro's Economy versus North Carolina MSAs
This article is a continuation of the last article, Hickory Metro's Economy versus similar U.S. MSAs. Here, I compare all of the Metropolitan Statistical Areas within the State of North Carolina. The Hickory-Lenoir-Morganton MSA is the seventh largest MSA and the fifth largest if Raleigh and Durham are combined and if Greensboro and Winston-Salem are combined. There are 13 areas included in this analysis.
The Milken Institute splits its analysis into two segments, the top 200 markets and 124 small markets. There are 9 NC metro areas that fall within the Large Market analysis. The smallest of those cities is Wilmington with an MSA population of 339,511. It is the 145th largest market in the United States. The small market category includes markets smaller than the top 200 markets. Three markets in our state are included in Milken's small market analysis. Those cities are Greenville, Rocky Mount, and Burlington.
Our state's MSA populations range from a high end of the nation's 34th largest market (Charlotte) 1,701,799 to a low end of (Goldsboro, North Carolina) 113,590. We have many diverse populations within our state. The large market population growth, since 2000, saw these cities range from a high of (Raleigh) 36.6% to a low of (Fayetteville) 3.66%. Out of these 9 cities, 7 had higher population growth rates than Hickory. 4 of these cities (Raleigh, Charlotte, Wilmington, and Durham) had growth rates above 10% and 3 (Winston-Salem, Asheville, and Greensboro) had a growth rates 0ver 8.5%. Hickory's growth rate was the second worst amongst major metros in North Carolina.
"The Milken Institute/Greenstreet Real Estate Partners Best Performing Cities Index ranks U.S. metropolitan areas by how well they are creating and sustaining jobs and economic growth. The components include job, wage and salary, and technology growth. The full report can be downloaded here."
Stats below:
5-Year Job Growth - Metropolitan area job growth relative to the United States average between 2002 and 2007. U.S. average = 100.0
5-Year Wages & Salaries Growth - Salary and Wage disbursements growth relative to the United States average between 2001 and 2006. U.S. average = 100.0
5-Year Relative High Tech GDP Growth - High tech sector output growth relative to the United States average between 2002 and 2007. U.S. average = 100.0
34 Charlotte-Gastonia-Concord, NC-SC Milken rank - 26 Unemp = 12.4% Pop. 1,701,799
5-yr Job Growth (02-06) 105.62 Rank: 35
5-yr Wages & Salaries Growth Score: 106.86 Rank: 49
5-yr Relative HT GDP Growth (2002-2007) Score: 94.13 Rank: 125
Population Growth since 2000 - +27.91%
Largest City – Charlotte (estimated to be 716,874 in 2009)
Higher Education
University of North Carolina at Charlotte, Johnson C Smith University, Queens University of Charlotte, Central Piedmont Community College (Central Campus), King's College, Johnson & Wales University, Carolinas College-Health Science, Carolinas Medical Center, The Art Institute of Charlotte, New Life Theological Seminary, Pfeiffer University-Charlotte, devry University, Keller Graduate School of Management, Keller Graduate School of Management, ITT Technical Institute, Brookstone College of Business, University Park Creative Arts, University of Phoenix - Charlotte Campus, ECPI College of Technology, Strayer University, Tech Skills Charlotte, Wake Forest Babcock Graduate School of Management, Charlotte school of Law, davidson College (20 miles north of center city).
Public Transportation – (Charlotte) - CATS operates light rail transit, historical trolleys, express shuttles, and bus service serving Charlotte and its immediate suburbs. The LYNX light rail system comprises a 9.6-mile line north-south line known as the Blue Line. Bus ridership continues to grow (66% since 1998), but more slowly than operations increases which have risen 170% in that same time when adjusted for inflation.[47] The 2030 Transit Corridor System Plan looks to supplement established bus service with light rail & commuter rail lines as a part of a system dubbed LYNX.
Economy and Employers -
Charlotte has become a major U.S. financial center, and the nation's largest financial institution by assets, Bank of America, calls the city home. The city was also the former corporate home of Wachovia until its purchase by Wells Fargo in 2008; Wells Fargo continues to operate Wachovia as a wholly-owned subsidiary, with its east coast headquarters in Charlotte. Bank of America's headquarters, along with other regional banking and financial services companies, are located primarily in the uptown financial district. Thanks in large part to the expansion of the city's banking industry, the Charlotte skyline has mushroomed in the past two decades and boasts the Bank of America Corporate Center, the tallest skyscraper between Philadelphia and Atlanta. The 60-story postmodern gothic tower, designed by renowned architect Cesar Pelli, stands 871 feet tall and was completed in 1992.
The following Fortune 500 companies are headquartered in the Charlotte metropolitan area, in order of their rank: Bank of America, Lowe's in suburban Mooresville, Nucor (steel producer), Duke Energy, Sonic Automotive, Family Dollar, Goodrich Corporation, and SPX Corporation (industrial technology). Other major companies headquartered in the Metro Charlotte include Time Warner Cable (formerly a business unit of Fortune 500 company Time Warner), Continental Tire North America (formerly Continental/General Tire), Muzak, Belk, Harris Teeter, Meineke Car Care Centers, Lance, Inc, Bojangles', Carlisle Companies, LendingTree, Compass Group USA, Food Lion, and the Carolina Beverage Corporation (makers of Cheerwine, Sun Drop, and others) in suburban Salisbury, North Carolina. Charlotte is home to several large shopping malls, with Carolina Place Mall and SouthPark Mall being the largest. Also, neighboring Gastonia is home to the Parkdale Mills world headquarters. Concord Mills Mall is also the largest shopping outlet in the state and one of the largest in the nation and single biggest draw in NC and its exterior is lined with many trendy colorful restaurants that parallel Myrtle Beach.
Charlotte is also a major center in the US motorsports industry, with NASCAR having multiple offices in and around Charlotte. Approximately 75% of the NASCAR industry's employees and drivers are based within two hours of downtown Charlotte. Charlotte is also the future home of the NASCAR Hall of Fame, expected to be open May 10, 2010, a week prior to the Sprint All-Star Race. The already large presence of the racing technology industry along with the newly built NHRA premier dragstrip, zMAX Dragway at Concord, located just north of Charlotte, is influencing some of the top professional drag racers to move their shops from more expensive areas like California to the Charlotte area as well. The recently announced small racetrack at the former Metrolina Fairgrounds location which is at Sunset and Statesville Roads is expected to bring more local racing to the area along with a skate park, shoppes, restaurants and an upscale hotel will offer recreation of many types. Located in the western part of Mecklenburg County is the National Whitewater Rafting Center, consisting of man-made rapids of various degrees and is open to the public year round.
The center city/uptown area of Charlotte has seen remarkable growth over the last decade. Numerous residential units continue to be built uptown, including over 20 skyscapers either under construction, recently completed, or in the planning stage. Many new restaurants, bars and clubs now operate in the Uptown area. Several projects are transforming the Midtown Charlotte/Elizabeth area.
50 Raleigh-Cary, NC Milken rank - 2 Unemp = 9.1% Pop. 1,088,765
5-yr Job Growth (02-06) 113.07 Rank: 11
5-yr Wages & Salaries Growth Score: 105.86 Rank: 11
5-yr Relative HT GDP Growth (2002-2007) Score: 101.98 Rank: 83
Population Growth since 2000 - +36.60%
Largest city – Raleigh - - (Capital of North Carolina) population on July 1, 2008 was 392,552 (a 42% increase from the 2000 Census), making Raleigh the 8th fastest growing city in the United States
Higher Education – (Public) - North Carolina State University, Wake Technical Community College, (Private)- Meredith College, Peace College, Shaw University, St. Augustine's College, In addition, the Campbell University Norman Adrian Wiggins School of Law has announced that it will move to downtown Raleigh from the nearby town of Buies Creek by 2009. (Private, for profit) - ECPI College of Technology, School of Communication Arts, Strayer University, Mitchell's Hair Styling Academy, The Emerald Academy - A Paul Mitchell Partner School
Economy and Employers
The State of North Carolina. Raleigh's industrial base includes electrical, medical, electronic and telecommunications equipment; clothing and apparel; food processing; paper products; and pharmaceuticals. Raleigh is part of North Carolina's Research Triangle, one of the country's largest and most successful research parks and a major center in the United States for high-tech and biotech research, as well as advanced textile development. The city is a major retail shipping point for eastern North Carolina and a wholesale distributing point for the grocery industry.
Public Transportation -
Public transportation in and around Raleigh is provided by Capital Area Transit (CAT), which operates 38 bus fixed routes and a historic trolley line within the city, and also by Triangle Transit. From 1995 the cornerstone of Triangle Transit's long-term plan was a 28-mile rail corridor from northeast Raleigh, through downtown Raleigh, Cary, and Research Triangle Park, to Durham using DMU technology. There were proposals to extend this corridor 7 miles to Chapel Hill with light rail technology. However, in 2006 Triangle Transit deferred implementation indefinitely when the Federal Transit Administration declined to fund the program due to low ridership projections.
72 Greensboro-High Point, NC Milken rank -141 Unemp = 12.1% Pop. 698,497
5-yr Job Growth (02-06) 98.45 Rank: 132
5-yr Wages & Salaries Growth Score: 94.73 Rank: 167
5-yr Relative HT GDP Growth (2002-2007) Score: 88.07 Rank: 158
Population Growth since 2000 - +8.56%
Largest City – Greensboro (estimated 2007 population was 248,111)
Higher Education – Institutes of higher education - University of North Carolina at Greensboro, North Carolina Agricultural and Technical State University, Bennett College for Women, Greensboro College, Guilford College, Guilford Technical Community College, Elon University School of Law, (For-profit universities) Brookstone College, ECPI College of Technology, DeVry University, Strayer University
Economy and Employers
Notable companies headquartered in Greensboro include the Honda Aircraft Company, Lorillard Tobacco Company, VF Corporation, Volvo Trucks of North America, RF Micro Devices, the International Textile Group, NewBridge Bank, Cook Out, Biscuitville, and Gilbarco Veeder-Root. Greensboro is also a "center of operations" for the insurance company Lincoln Financial Group. Although traditionally associated with the textile and tobacco industries, Greensboro leaders are working to attract new businesses in the nanotech, high-tech and transportation/logistics sectors. The University of North Carolina at Greensboro and North Carolina A&T State University opened a joint research park, Gateway University Research Park. Downtown Greensboro has experienced construction investment in recent years with developments such as NewBridge Bank Park, and residential developments and office construction. In 1998, FedEx chose to build and operate a $300 million mid-Atlantic air-cargo and sorting hub at Piedmont Triad International Airport.
103 Durham, NC Milken rank - 21 Unemp = 8.4% Pop. 479,624
5-yr Job Growth (02-06) 102.34 Rank: 70
5-yr Wages & Salaries Growth Score: 99.78 Rank: 111
5-yr Relative HT GDP Growth (2002-2007)6 Score: 94.76 Rank: 121
Population Growth since 2000 - +13.17%
Largest City – Durham Pop. 217,847 residents as of July 1, 2007 is the fifth largest city in the state.
Higher Education - Duke University, North Carolina Central University, Durham Technical Community College, The Art Institute of Raleigh-Durham.
Economy and Employers
10 largest employers - Duke University & Medical Center, International Business Machines, Durham Public Schools, GlaxoSmithKline, Blue Cross and Blue Shield of North Carolina, NORTEL Networks, Durham City Government, Lenovo Group, Ltd., Veterans Administration Medical Center, RTI International, Inc.
Public Transportation - the Durham Area Transit Authority (DATA) bus system. Triangle Transit bus - Triangle Transit (known formerly as the Triangle Transit Authority, or TTA). Triangle Transit offers scheduled, fixed-route regional and commuter bus service between Raleigh and the region's other principal cities of Durham, Cary and Chapel Hill, as well as to and from the Raleigh-Durham International Airport, Research Triangle Park and several of the region's larger suburban communities.
Public transportation within the city and to/from its nearby suburbs is provided in the form of local bus routes run by New Jersey Transit. SEPTA also provides bus service to adjacent Bucks County, Pennsylvania. Duke University also maintains its own transit system, Duke Transit operates more than 30 buses with routes throughout the campus and health system. Duke campus buses and vans have alternate schedules or do not operate during breaks and holidays. From 1995 the cornerstone of Triangle Transit's long-term plan was a 28-mile rail corridor from northeast Raleigh, through downtown Raleigh, Cary, and Research Triangle Park, to Durham using DMU technology. There were proposals to extend this corridor 7 miles to Chapel Hill with light rail technology. However, in 2006 Triangle Transit deferred implementation indefinitely when the Federal Transit Administration declined to fund the program.
105 Winston-Salem, NC Milken rank - 99 Unemp = 10.4% Pop. 463,159
5-yr Job Growth (02-06) 99.91 Rank: 104
5-yr Wages & Salaries Growth Score: 95.36 Rank: 158
5-yr Relative HT GDP Growth (2002-2007) Score: 119.92 Rank: 18
Population Growth since 2000 - +9.76%
Largest City – Winston-Salem Pop. 224,889 fourth-largest city in the state. Winston-Salem is the second largest municipality in the Piedmont Triad region
Higher Education –
Wake Forest University, Winston-Salem State University, University of North Carolina School of the Arts, Salem College, Piedmont Baptist College, Winston-Salem Bible College, Forsyth Technical Community College
Economy and Employers –
It is the location of the corporate headquarters of the R. J. Reynolds Tobacco Company, Krispy Kreme Doughnuts, Inc., Branch Banking and Trust Company (BB&T), TW Garner Food Company (makers of Texas Pete), Reynolda Manufacturing Solutions,HanesBrands, Inc., Lowes Foods Stores, Southern Community Bank and ISP Sports. Wachovia Corporation was based in Winston-Salem until it merged with First Union Corporation in September 2001; the corporate headquarters of the combined company was located in Charlotte, until it was purchased by Wells Fargo in December 2008.
Although traditionally associated with the textile, furniture, and tobacco industries, Winston-Salem is attempting to attract new businesses in the nanotech, high-tech and bio-tech fields. Medical research is a fast-growing local industry, and Wake Forest University Baptist Medical Center is the largest employer in Winston-Salem. Blue Rhino, the nation's largest propane exchange company and a division of Ferrellgas, is also headquartered in Winston-Salem. In December 2004, the city landed a deal with Dell, Inc. providing millions of dollars in incentives to build a computer assembly plant nearby in southeastern Forsyth County. However to date there is speculation of closing the plant due to mass layoffs. A portion of downtown Winston-Salem has been designated as the Piedmont Triad Research Park for biomedical and information technology research and development. Currently, the research park is undergoing an expansion, with hopes of jumpstarting the city's economy.
Public Transportation
Winston-Salem Transit Authority (WSTA) has the responsibility of providing public transportation since 1972 after taking over the Safe Bus Company, Inc.. WSTA has 27 weekly routes, operating between 5:30am and 12:00 midnight Monday through Friday and from 6:30am through 6:30pm on Saturday , WSTA makes over 2 million passenger trips.
The metropolitan area is connected by Piedmont Authority for Regional Transportation (PART).
122 Asheville, NC Milken rank - 46 Unemp = 9.2% Pop. 404,320
5-yr Job Growth (02-06) 103.90 Rank: 52
5-yr Wages & Salaries Growth Score: 100.48 Rank: 100
5-yr Relative HT GDP Growth (2002-2007) Score: 98.27 Rank: 94
Population Growth since 2000 - +9.52%
Largest City - Asheville's population as of 2007 was 73,875
Higher Education –
Asheville-Buncombe Technical Community College, Brevard College (Brevard), Mars Hill College (Mars Hill), Montreat College (Montreat), South College (Asheville), Uversity of North Carolina at Asheville, Warren Wilson College (Swannanoa), Western Carolina University (Cullowhee)
Economy and Employers
Asheville has a tourism based economy. Asheville's largest employers - Ingles Markets, Mission Health System, City of Asheville, The Biltmore Company, Buncombe County Government, The Grove Park Inn Resort & Spa, VA Medical Center, BorgWarner, CarePartners, Eaton Corporation
Public Transportation –
The city operates the Asheville Transit System, which consists of several bus lines connecting parts of the city and surrounding areas.
138 Hickory-Lenoir-Morganton, NC Milken rank -191 Unemp = 15.4% Pop. 360,471
5-yr Job Growth (02-06) 91.09 Rank: 193
5-yr Wages & Salaries Growth Score: 86.91 Rank: 195
5-yr Relative HT GDP Growth (2002-2007) Score: 93.90 Rank: 130
Population Growth since 2000 - +5.46%
Largest City – Hickory (Pop. 42,000)
Higher Education – Lenoir-Rhyne University, Appalachian State – Hickory, Catawba Valley Community College, Caldwell Community College and Technical Institute, Western Piedmont Community College
Economy and Employers -
The Hickory area is home to many leading manufacturers of furniture (before most jobs in that industry were shipped over to China) and fiber optic cable. It is estimated that 60% of the nation's furniture used to be produced within a 200-mile (320 km) radius of Hickory. Forty percent of the world's fiber optic cable is made in the Hickory area. Lenoir is the headquarters of Broyhill Furniture company, one of the largest furniture companies in the United States and part of Furniture Brands International. It has historically been one of the town's largest employers. The Bernhardt and Fairfield furniture companies are also located in Lenoir. However, in the 1990s, these companies began outsourcing their work overseas, and they have closed many of Lenoir's furniture factories and laid off workers, causing many local businesses either to close or move to other cities. This has harmed the economy in Lenoir, leaving many households living below the poverty line.Google, Inc. has commenced construction of and opened a server farm in Lenoir. The move, it is hoped, will boost the local economy and provide much-needed jobs for the area, which has been harmed by outsourcing of furniture manufacturing jobs overseas.
143 Fayetteville, NC Milken rank - 52 Unemp = 9.4% Pop. 348,940
5-yr Job Growth (02-06) 104.79 Rank: 41
5-yr Wages & Salaries Growth Score: 117.71 Rank: 11
5-yr Relative HT GDP Growth (2002-2007) Score: 98.86 Rank: 88
Population Growth since 2000 - +3.66%
Largest City - Fayetteville (Pop. 121,015 as of the 2000 Census)
Higher Education
Fayetteville State University, Methodist University, Fayetteville Technical Community College
Economy and Employers –
Fort Bragg and Pope Air Force Base. The Kelly-Springfield Tire Co., Black & Decker,
Purolator
145 Wilmington, NC Milken rank - 6 Unemp = 10.3% Pop. 339,511
5-yr Job Growth (02-06) 115.90 Rank: 8
5-yr Wages & Salaries Growth Score: 111.26 Rank: 23
5-yr Relative HT GDP Growth (2002-2007) Score: 148.44 Rank: 4
Population Growth since 2000 - +23.67%
A July 1, 2008 United States Census Bureau estimate places the population at 100,192
Higher Education –
University of North Carolina at Wilmington, Cape Fear Community College, Shaw University satellite campus
Economy and Employers
Wilmington's industrial base includes electrical,medical,electronic and telecommunications equipment; clothing and apparel; food processing; paper products; and pharmaceuticals. Wilmington is part of North Carolina's Research coast,one of the Country's largest and most successful research parts and major center in the United States. Also important to Wilmington's economy is tourism and film production. Economists have forecast growth in the Greater Wilmington area to be the fastest in the state between 2004–2010, averaging 7%.
Located on the Cape Fear River, which flows into the Atlantic Ocean, Wilmington is a sizable seaport, including private marine terminals and the North Carolina State Ports Authority's Port of Wilmington. A major international seaport, the North Carolina International Port, is being planned down the river in Southport.
Public Transportation –
Public transit in the area is provided by the Cape Fear Public Transportation Authority.[14] , which operates fixed bus routes, shuttles, and a free downtown trolley under the brand name Wave Transit.
124 Smallest Metros
231 Greenville, NC Milken rank - 22 Unemp = 11.3% Pop. 172,473
5-yr Job Growth (02-06) 109.80 Rank: 16
5-yr Wages & Salaries Growth Score: 102.51 Rank: 60
5-yr Relative HT GDP Growth (2002-2007) Score: 84.48 Rank: 104
Population Growth since 2000 - +12.90%
Largest City – Greenville 75,482 as of July 1, 2007
Higher Education
East Carolina University, Shaw University (satellite campus), Pitt Community College
Economy and Employers –
The health care community in Greenville is one of the largest in the state of North Carolina. DSM - creates innovative products and services in Life Sciences and Materials Sciences. NACCO Materials Handling Group, Alliance One International, TRC, Inc., ASMO Greenville of North Carolina. Other Pitt County Businesses
Public Transportation The City of Greenville operates a mass transit bus system called Greenville Area Transit or GREAT.
276 Rocky Mount, NC Milken rank - 93 Unemp = 14.4% Pop. 145,596
5-yr Job Growth(02-06) 97.54 Rank: 87
5-yr Wages & Salaries Growth Score: 89.10 Rank: 118
5-yr Relative HT GDP Growth (2002-2007) Score: 80.30 Rank: 109
Population Growth since 2000 - +1.80%
Largest City - Rocky Mount (As of 2007, the city's population was 56,844)
Higher Education
Post-secondary institutions include Nash Community College,Shaw University, North Carolina Wesleyan College and Edgecombe Community College
Economy and Employers –
Abbott Laboratories, McLane (a food distribution subsidiary of Wal-Mart), Tarboro Textiles
278 Burlington, NC Milken rank - 57 Unemp = 12.4% Pop. 145,360
5-yr Job Growth(02-06) 96.75 Rank: 92
5-yr Wages & Salaries Growth Score: 91.17 Rank: 110
5-yr Relative HT GDP Growth (2002-2007) Score: 108.87 Rank: 48
Population Growth since 2000 - +11.13%
Largest City - Ann Arbor (7th largest city in Michigan, Pop. 114,024 as of the 2000 Census)
Higher Education
Elon University, Alamance Community College
Economy and Employers –
LabCorp, one of the largest clinical laboratory companies in the world, has its headquarters and several testing facilities in Burlington. LabCorp is Alamance County's largest employer, employing over 3,000 people in the county. Honda Aero, a subsidiary of Honda, recently announced that it will move its corporate headquarters to Burlington and build a $27 million plant at the Burlington-Alamance Regional Airport where it will build its HF120 jet engines for use in very light jets. Biscuitville, a regional fast food chain, is based in Burlington. Burlington is also the operations headquarters for Gold Toe Brands, a manufacturer of socks. Alamance General Medical Center, GKN Driveline, GKN Driveline Glen Raven
346 Goldsboro, NC Milken rank - n/a Unemp = 9.3% Pop. 113,590
5-yr Job Growth(02-06) n/a Rank: n/a
5-yr Wages & Salaries Growth Score: n/a Rank: n/a
5-yr Relative HT GDP Growth (2002-2007) Score: n/a Rank: n/a
Population Growth since 2000 - +.23%
Largest City - Goldsboro - Pop. 38,023 in 2006
Higher Education
Wayne Community College, North Carolina Wesleyan College - Goldsboro campus
Economy and Employers –
Seymour Johnson Air Force Base, Goldsboro Milling, Case farms, Mount Olive Pickle Company, Georgia Pacific, Cooper Standard Automotive, Franklin Baking, Waukesha Electric Systems, Wayne Memorial Hospital, Cherry Hospital, Berry Hospital, AT&T Technical support Center
The Hound is saddened to look at these numbers. When I look at these numbers and relate them to the nine markets in this analysis, here is what I see. Hickory (#191) is the only city in the bottom quartile of Milken's national analysis. Greensboro is the only other city in the bottom half (#141). The rest are in the top half and 5 MSAs are in the top quartile (Raleigh #2, Wilmington #6. Durham #21, Charlotte #26, and Asheville #46). Why is Hickory so far down this list and what are we going to do to correct this?
What these numbers show is that most of these cities did fairly well when it comes to growing their job base, but only Wilmington (#8) and Raleigh's (#11) numbers are truly impressive. Wage and Salary growth numbers were excellent for Raleigh (#11), Fayetteville (#11), Wilmington (#23), and Charlotte (#49), but they weren't very good for the other markets and Hickory's number is about as bad as it can get. What is even more important to see is that this state is falling way behind when it comes to developing High Tech Industries. Only Wilmington (#4) and Winston-Salem (#18) are doing well. Most everyone else isn't even in the ball park.
It is just sad that our state has no leadership. There are certainly some bright spots, but for the most part we can see that our state is happy with the status quo. Once again we see that tug of war between the old way and the new way. We can certainly see that Wilmington, Raleigh, and Charlotte are fairing well, but I think the rest of the state is putting a drag on their current ability to grow. Look at the Unemployment numbers. Raleigh-Durham, Asheville, Fayetteville, and Goldsboro are the only areas that are fairing as well or better than the nation. Hickory and Rocky Mount (two cities with Corning in common) are in a class by themselves when it comes to unemployment.
I think Raleigh and Wilmington are enjoying the fruits of reaching out to the Creative Class and the Knowledge Economy. Wilmington has moved forward with the Entertainment Industry and Raleigh has the Research Triangle Park. It also looks like Winston-Salem is enjoying growth in the Tech sector of its economy after investing many resources towards that endeavor. The tech numbers for this state truly sadden me. In the 80s and 90s, I certainly had the sense that the State of North Carolina was ahead of the curve in its investments in technology. What happened to the foundation we were building? Why did we stop? It is more than obvious that we have frittered our progress away.
As far as Hickory, it is easy to see how we have gotten into the predicament we are currently in, we haven't invested in the future. Compared to the other large markets, we are 9th in job growth, 9th in wage growth, and 8th in High-Tech GDP. We're just trying to get through the day. We have adapted down and we aren't laying a foundation to foster excellence. In relation to the rest of this state; we aren't growing jobs, we aren't paying people anything, and we aren't moving toward a High-Tech economy. We're sitting around, waiting to see what everyone else does before making decisions. What if every municipality in the country did that? Can you name one program that was ever innovated, initiated and implemented by our local government?
When you always follow, like that, then you will be lucky to get scraps. We have to do some things to kickstart our economy. We're going to have to take some chances and think outside of the box. If we don't soon start growing our economy, then raising taxes, fees, and/or cutting services will be inevitable. People are going to have to realize that you can't keep taxes low, if you have a shrinking tax base. If people aren't working, then they aren't paying taxes. If people leave town to seek work, then they won't be paying taxes here. If businesses shut their doors, then adios to that tax revenue. Those people that are left, and able, will have to share the burden.
When it comes to the Tech and Creative Industries in this state, it is more than obvious that we don't have much to follow. I have a novel concept for our local leaders, why don't we take the bull by the horns, get out in front, and initiate some action?
As I continued in the comments section of the last article, when looking at these similar sized communities across the nation, how their stats relate to Hickory, and the things that we can do to improve our economy; I can see the need to address a couple of items that can help foster development of the creative economy in our community.
We are amassing a lot of medical industry capacities, because of our central location and aging population. Why not somehow foster the ASU-Hickory partnership towards the Healthcare industry and a program to facilitate the development of Doctors and other Medical Professionals. If it isn't feasible to associate with App State in such a way, then why not UNC-Chapel Hill. There needs to be an affordable medical school on this side of the state. Peoria, Rockford, and Evansville are cities, that are close to our metro's size, that have satellite medical branches of their state universities.
I would also like to see L-R develop a law program. I see excellent private University Law Schools at Duke, Wake Forest, and Campbell. We need a Law school in this area and we have many excellent Lawyers available to join in the teaching process. Attorneys with a vested interest in Hickory can help advocate our status in Raleigh.
These are only a couple of suggestions. What do y'all think?
*** The info above was found on Wikipedia and a few other sites.
Hickory is #183 in 5-year job growth. This makes us #9 in the state.
The Milken Institute splits its analysis into two segments, the top 200 markets and 124 small markets. There are 9 NC metro areas that fall within the Large Market analysis. The smallest of those cities is Wilmington with an MSA population of 339,511. It is the 145th largest market in the United States. The small market category includes markets smaller than the top 200 markets. Three markets in our state are included in Milken's small market analysis. Those cities are Greenville, Rocky Mount, and Burlington.
Our state's MSA populations range from a high end of the nation's 34th largest market (Charlotte) 1,701,799 to a low end of (Goldsboro, North Carolina) 113,590. We have many diverse populations within our state. The large market population growth, since 2000, saw these cities range from a high of (Raleigh) 36.6% to a low of (Fayetteville) 3.66%. Out of these 9 cities, 7 had higher population growth rates than Hickory. 4 of these cities (Raleigh, Charlotte, Wilmington, and Durham) had growth rates above 10% and 3 (Winston-Salem, Asheville, and Greensboro) had a growth rates 0ver 8.5%. Hickory's growth rate was the second worst amongst major metros in North Carolina.
"The Milken Institute/Greenstreet Real Estate Partners Best Performing Cities Index ranks U.S. metropolitan areas by how well they are creating and sustaining jobs and economic growth. The components include job, wage and salary, and technology growth. The full report can be downloaded here."
Stats below:
5-Year Job Growth - Metropolitan area job growth relative to the United States average between 2002 and 2007. U.S. average = 100.0
5-Year Wages & Salaries Growth - Salary and Wage disbursements growth relative to the United States average between 2001 and 2006. U.S. average = 100.0
5-Year Relative High Tech GDP Growth - High tech sector output growth relative to the United States average between 2002 and 2007. U.S. average = 100.0
34 Charlotte-Gastonia-Concord, NC-SC Milken rank - 26 Unemp = 12.4% Pop. 1,701,799
5-yr Job Growth (02-06) 105.62 Rank: 35
5-yr Wages & Salaries Growth Score: 106.86 Rank: 49
5-yr Relative HT GDP Growth (2002-2007) Score: 94.13 Rank: 125
Population Growth since 2000 - +27.91%
Largest City – Charlotte (estimated to be 716,874 in 2009)
Higher Education
University of North Carolina at Charlotte, Johnson C Smith University, Queens University of Charlotte, Central Piedmont Community College (Central Campus), King's College, Johnson & Wales University, Carolinas College-Health Science, Carolinas Medical Center, The Art Institute of Charlotte, New Life Theological Seminary, Pfeiffer University-Charlotte, devry University, Keller Graduate School of Management, Keller Graduate School of Management, ITT Technical Institute, Brookstone College of Business, University Park Creative Arts, University of Phoenix - Charlotte Campus, ECPI College of Technology, Strayer University, Tech Skills Charlotte, Wake Forest Babcock Graduate School of Management, Charlotte school of Law, davidson College (20 miles north of center city).
Public Transportation – (Charlotte) - CATS operates light rail transit, historical trolleys, express shuttles, and bus service serving Charlotte and its immediate suburbs. The LYNX light rail system comprises a 9.6-mile line north-south line known as the Blue Line. Bus ridership continues to grow (66% since 1998), but more slowly than operations increases which have risen 170% in that same time when adjusted for inflation.[47] The 2030 Transit Corridor System Plan looks to supplement established bus service with light rail & commuter rail lines as a part of a system dubbed LYNX.
Economy and Employers -
Charlotte has become a major U.S. financial center, and the nation's largest financial institution by assets, Bank of America, calls the city home. The city was also the former corporate home of Wachovia until its purchase by Wells Fargo in 2008; Wells Fargo continues to operate Wachovia as a wholly-owned subsidiary, with its east coast headquarters in Charlotte. Bank of America's headquarters, along with other regional banking and financial services companies, are located primarily in the uptown financial district. Thanks in large part to the expansion of the city's banking industry, the Charlotte skyline has mushroomed in the past two decades and boasts the Bank of America Corporate Center, the tallest skyscraper between Philadelphia and Atlanta. The 60-story postmodern gothic tower, designed by renowned architect Cesar Pelli, stands 871 feet tall and was completed in 1992.
The following Fortune 500 companies are headquartered in the Charlotte metropolitan area, in order of their rank: Bank of America, Lowe's in suburban Mooresville, Nucor (steel producer), Duke Energy, Sonic Automotive, Family Dollar, Goodrich Corporation, and SPX Corporation (industrial technology). Other major companies headquartered in the Metro Charlotte include Time Warner Cable (formerly a business unit of Fortune 500 company Time Warner), Continental Tire North America (formerly Continental/General Tire), Muzak, Belk, Harris Teeter, Meineke Car Care Centers, Lance, Inc, Bojangles', Carlisle Companies, LendingTree, Compass Group USA, Food Lion, and the Carolina Beverage Corporation (makers of Cheerwine, Sun Drop, and others) in suburban Salisbury, North Carolina. Charlotte is home to several large shopping malls, with Carolina Place Mall and SouthPark Mall being the largest. Also, neighboring Gastonia is home to the Parkdale Mills world headquarters. Concord Mills Mall is also the largest shopping outlet in the state and one of the largest in the nation and single biggest draw in NC and its exterior is lined with many trendy colorful restaurants that parallel Myrtle Beach.
Charlotte is also a major center in the US motorsports industry, with NASCAR having multiple offices in and around Charlotte. Approximately 75% of the NASCAR industry's employees and drivers are based within two hours of downtown Charlotte. Charlotte is also the future home of the NASCAR Hall of Fame, expected to be open May 10, 2010, a week prior to the Sprint All-Star Race. The already large presence of the racing technology industry along with the newly built NHRA premier dragstrip, zMAX Dragway at Concord, located just north of Charlotte, is influencing some of the top professional drag racers to move their shops from more expensive areas like California to the Charlotte area as well. The recently announced small racetrack at the former Metrolina Fairgrounds location which is at Sunset and Statesville Roads is expected to bring more local racing to the area along with a skate park, shoppes, restaurants and an upscale hotel will offer recreation of many types. Located in the western part of Mecklenburg County is the National Whitewater Rafting Center, consisting of man-made rapids of various degrees and is open to the public year round.
The center city/uptown area of Charlotte has seen remarkable growth over the last decade. Numerous residential units continue to be built uptown, including over 20 skyscapers either under construction, recently completed, or in the planning stage. Many new restaurants, bars and clubs now operate in the Uptown area. Several projects are transforming the Midtown Charlotte/Elizabeth area.
50 Raleigh-Cary, NC Milken rank - 2 Unemp = 9.1% Pop. 1,088,765
5-yr Job Growth (02-06) 113.07 Rank: 11
5-yr Wages & Salaries Growth Score: 105.86 Rank: 11
5-yr Relative HT GDP Growth (2002-2007) Score: 101.98 Rank: 83
Population Growth since 2000 - +36.60%
Largest city – Raleigh - - (Capital of North Carolina) population on July 1, 2008 was 392,552 (a 42% increase from the 2000 Census), making Raleigh the 8th fastest growing city in the United States
Higher Education – (Public) - North Carolina State University, Wake Technical Community College, (Private)- Meredith College, Peace College, Shaw University, St. Augustine's College, In addition, the Campbell University Norman Adrian Wiggins School of Law has announced that it will move to downtown Raleigh from the nearby town of Buies Creek by 2009. (Private, for profit) - ECPI College of Technology, School of Communication Arts, Strayer University, Mitchell's Hair Styling Academy, The Emerald Academy - A Paul Mitchell Partner School
Economy and Employers
The State of North Carolina. Raleigh's industrial base includes electrical, medical, electronic and telecommunications equipment; clothing and apparel; food processing; paper products; and pharmaceuticals. Raleigh is part of North Carolina's Research Triangle, one of the country's largest and most successful research parks and a major center in the United States for high-tech and biotech research, as well as advanced textile development. The city is a major retail shipping point for eastern North Carolina and a wholesale distributing point for the grocery industry.
Public Transportation -
Public transportation in and around Raleigh is provided by Capital Area Transit (CAT), which operates 38 bus fixed routes and a historic trolley line within the city, and also by Triangle Transit. From 1995 the cornerstone of Triangle Transit's long-term plan was a 28-mile rail corridor from northeast Raleigh, through downtown Raleigh, Cary, and Research Triangle Park, to Durham using DMU technology. There were proposals to extend this corridor 7 miles to Chapel Hill with light rail technology. However, in 2006 Triangle Transit deferred implementation indefinitely when the Federal Transit Administration declined to fund the program due to low ridership projections.
72 Greensboro-High Point, NC Milken rank -141 Unemp = 12.1% Pop. 698,497
5-yr Job Growth (02-06) 98.45 Rank: 132
5-yr Wages & Salaries Growth Score: 94.73 Rank: 167
5-yr Relative HT GDP Growth (2002-2007) Score: 88.07 Rank: 158
Population Growth since 2000 - +8.56%
Largest City – Greensboro (estimated 2007 population was 248,111)
Higher Education – Institutes of higher education - University of North Carolina at Greensboro, North Carolina Agricultural and Technical State University, Bennett College for Women, Greensboro College, Guilford College, Guilford Technical Community College, Elon University School of Law, (For-profit universities) Brookstone College, ECPI College of Technology, DeVry University, Strayer University
Economy and Employers
Notable companies headquartered in Greensboro include the Honda Aircraft Company, Lorillard Tobacco Company, VF Corporation, Volvo Trucks of North America, RF Micro Devices, the International Textile Group, NewBridge Bank, Cook Out, Biscuitville, and Gilbarco Veeder-Root. Greensboro is also a "center of operations" for the insurance company Lincoln Financial Group. Although traditionally associated with the textile and tobacco industries, Greensboro leaders are working to attract new businesses in the nanotech, high-tech and transportation/logistics sectors. The University of North Carolina at Greensboro and North Carolina A&T State University opened a joint research park, Gateway University Research Park. Downtown Greensboro has experienced construction investment in recent years with developments such as NewBridge Bank Park, and residential developments and office construction. In 1998, FedEx chose to build and operate a $300 million mid-Atlantic air-cargo and sorting hub at Piedmont Triad International Airport.
103 Durham, NC Milken rank - 21 Unemp = 8.4% Pop. 479,624
5-yr Job Growth (02-06) 102.34 Rank: 70
5-yr Wages & Salaries Growth Score: 99.78 Rank: 111
5-yr Relative HT GDP Growth (2002-2007)6 Score: 94.76 Rank: 121
Population Growth since 2000 - +13.17%
Largest City – Durham Pop. 217,847 residents as of July 1, 2007 is the fifth largest city in the state.
Higher Education - Duke University, North Carolina Central University, Durham Technical Community College, The Art Institute of Raleigh-Durham.
Economy and Employers
10 largest employers - Duke University & Medical Center, International Business Machines, Durham Public Schools, GlaxoSmithKline, Blue Cross and Blue Shield of North Carolina, NORTEL Networks, Durham City Government, Lenovo Group, Ltd., Veterans Administration Medical Center, RTI International, Inc.
Public Transportation - the Durham Area Transit Authority (DATA) bus system. Triangle Transit bus - Triangle Transit (known formerly as the Triangle Transit Authority, or TTA). Triangle Transit offers scheduled, fixed-route regional and commuter bus service between Raleigh and the region's other principal cities of Durham, Cary and Chapel Hill, as well as to and from the Raleigh-Durham International Airport, Research Triangle Park and several of the region's larger suburban communities.
Public transportation within the city and to/from its nearby suburbs is provided in the form of local bus routes run by New Jersey Transit. SEPTA also provides bus service to adjacent Bucks County, Pennsylvania. Duke University also maintains its own transit system, Duke Transit operates more than 30 buses with routes throughout the campus and health system. Duke campus buses and vans have alternate schedules or do not operate during breaks and holidays. From 1995 the cornerstone of Triangle Transit's long-term plan was a 28-mile rail corridor from northeast Raleigh, through downtown Raleigh, Cary, and Research Triangle Park, to Durham using DMU technology. There were proposals to extend this corridor 7 miles to Chapel Hill with light rail technology. However, in 2006 Triangle Transit deferred implementation indefinitely when the Federal Transit Administration declined to fund the program.
105 Winston-Salem, NC Milken rank - 99 Unemp = 10.4% Pop. 463,159
5-yr Job Growth (02-06) 99.91 Rank: 104
5-yr Wages & Salaries Growth Score: 95.36 Rank: 158
5-yr Relative HT GDP Growth (2002-2007) Score: 119.92 Rank: 18
Population Growth since 2000 - +9.76%
Largest City – Winston-Salem Pop. 224,889 fourth-largest city in the state. Winston-Salem is the second largest municipality in the Piedmont Triad region
Higher Education –
Wake Forest University, Winston-Salem State University, University of North Carolina School of the Arts, Salem College, Piedmont Baptist College, Winston-Salem Bible College, Forsyth Technical Community College
Economy and Employers –
It is the location of the corporate headquarters of the R. J. Reynolds Tobacco Company, Krispy Kreme Doughnuts, Inc., Branch Banking and Trust Company (BB&T), TW Garner Food Company (makers of Texas Pete), Reynolda Manufacturing Solutions,HanesBrands, Inc., Lowes Foods Stores, Southern Community Bank and ISP Sports. Wachovia Corporation was based in Winston-Salem until it merged with First Union Corporation in September 2001; the corporate headquarters of the combined company was located in Charlotte, until it was purchased by Wells Fargo in December 2008.
Although traditionally associated with the textile, furniture, and tobacco industries, Winston-Salem is attempting to attract new businesses in the nanotech, high-tech and bio-tech fields. Medical research is a fast-growing local industry, and Wake Forest University Baptist Medical Center is the largest employer in Winston-Salem. Blue Rhino, the nation's largest propane exchange company and a division of Ferrellgas, is also headquartered in Winston-Salem. In December 2004, the city landed a deal with Dell, Inc. providing millions of dollars in incentives to build a computer assembly plant nearby in southeastern Forsyth County. However to date there is speculation of closing the plant due to mass layoffs. A portion of downtown Winston-Salem has been designated as the Piedmont Triad Research Park for biomedical and information technology research and development. Currently, the research park is undergoing an expansion, with hopes of jumpstarting the city's economy.
Public Transportation
Winston-Salem Transit Authority (WSTA) has the responsibility of providing public transportation since 1972 after taking over the Safe Bus Company, Inc.. WSTA has 27 weekly routes, operating between 5:30am and 12:00 midnight Monday through Friday and from 6:30am through 6:30pm on Saturday , WSTA makes over 2 million passenger trips.
The metropolitan area is connected by Piedmont Authority for Regional Transportation (PART).
122 Asheville, NC Milken rank - 46 Unemp = 9.2% Pop. 404,320
5-yr Job Growth (02-06) 103.90 Rank: 52
5-yr Wages & Salaries Growth Score: 100.48 Rank: 100
5-yr Relative HT GDP Growth (2002-2007) Score: 98.27 Rank: 94
Population Growth since 2000 - +9.52%
Largest City - Asheville's population as of 2007 was 73,875
Higher Education –
Asheville-Buncombe Technical Community College, Brevard College (Brevard), Mars Hill College (Mars Hill), Montreat College (Montreat), South College (Asheville), Uversity of North Carolina at Asheville, Warren Wilson College (Swannanoa), Western Carolina University (Cullowhee)
Economy and Employers
Asheville has a tourism based economy. Asheville's largest employers - Ingles Markets, Mission Health System, City of Asheville, The Biltmore Company, Buncombe County Government, The Grove Park Inn Resort & Spa, VA Medical Center, BorgWarner, CarePartners, Eaton Corporation
Public Transportation –
The city operates the Asheville Transit System, which consists of several bus lines connecting parts of the city and surrounding areas.
138 Hickory-Lenoir-Morganton, NC Milken rank -191 Unemp = 15.4% Pop. 360,471
5-yr Job Growth (02-06) 91.09 Rank: 193
5-yr Wages & Salaries Growth Score: 86.91 Rank: 195
5-yr Relative HT GDP Growth (2002-2007) Score: 93.90 Rank: 130
Population Growth since 2000 - +5.46%
Largest City – Hickory (Pop. 42,000)
Higher Education – Lenoir-Rhyne University, Appalachian State – Hickory, Catawba Valley Community College, Caldwell Community College and Technical Institute, Western Piedmont Community College
Economy and Employers -
The Hickory area is home to many leading manufacturers of furniture (before most jobs in that industry were shipped over to China) and fiber optic cable. It is estimated that 60% of the nation's furniture used to be produced within a 200-mile (320 km) radius of Hickory. Forty percent of the world's fiber optic cable is made in the Hickory area. Lenoir is the headquarters of Broyhill Furniture company, one of the largest furniture companies in the United States and part of Furniture Brands International. It has historically been one of the town's largest employers. The Bernhardt and Fairfield furniture companies are also located in Lenoir. However, in the 1990s, these companies began outsourcing their work overseas, and they have closed many of Lenoir's furniture factories and laid off workers, causing many local businesses either to close or move to other cities. This has harmed the economy in Lenoir, leaving many households living below the poverty line.Google, Inc. has commenced construction of and opened a server farm in Lenoir. The move, it is hoped, will boost the local economy and provide much-needed jobs for the area, which has been harmed by outsourcing of furniture manufacturing jobs overseas.
143 Fayetteville, NC Milken rank - 52 Unemp = 9.4% Pop. 348,940
5-yr Job Growth (02-06) 104.79 Rank: 41
5-yr Wages & Salaries Growth Score: 117.71 Rank: 11
5-yr Relative HT GDP Growth (2002-2007) Score: 98.86 Rank: 88
Population Growth since 2000 - +3.66%
Largest City - Fayetteville (Pop. 121,015 as of the 2000 Census)
Higher Education
Fayetteville State University, Methodist University, Fayetteville Technical Community College
Economy and Employers –
Fort Bragg and Pope Air Force Base. The Kelly-Springfield Tire Co., Black & Decker,
Purolator
145 Wilmington, NC Milken rank - 6 Unemp = 10.3% Pop. 339,511
5-yr Job Growth (02-06) 115.90 Rank: 8
5-yr Wages & Salaries Growth Score: 111.26 Rank: 23
5-yr Relative HT GDP Growth (2002-2007) Score: 148.44 Rank: 4
Population Growth since 2000 - +23.67%
A July 1, 2008 United States Census Bureau estimate places the population at 100,192
Higher Education –
University of North Carolina at Wilmington, Cape Fear Community College, Shaw University satellite campus
Economy and Employers
Wilmington's industrial base includes electrical,medical,electronic and telecommunications equipment; clothing and apparel; food processing; paper products; and pharmaceuticals. Wilmington is part of North Carolina's Research coast,one of the Country's largest and most successful research parts and major center in the United States. Also important to Wilmington's economy is tourism and film production. Economists have forecast growth in the Greater Wilmington area to be the fastest in the state between 2004–2010, averaging 7%.
Located on the Cape Fear River, which flows into the Atlantic Ocean, Wilmington is a sizable seaport, including private marine terminals and the North Carolina State Ports Authority's Port of Wilmington. A major international seaport, the North Carolina International Port, is being planned down the river in Southport.
Public Transportation –
Public transit in the area is provided by the Cape Fear Public Transportation Authority.[14] , which operates fixed bus routes, shuttles, and a free downtown trolley under the brand name Wave Transit.
124 Smallest Metros
231 Greenville, NC Milken rank - 22 Unemp = 11.3% Pop. 172,473
5-yr Job Growth (02-06) 109.80 Rank: 16
5-yr Wages & Salaries Growth Score: 102.51 Rank: 60
5-yr Relative HT GDP Growth (2002-2007) Score: 84.48 Rank: 104
Population Growth since 2000 - +12.90%
Largest City – Greenville 75,482 as of July 1, 2007
Higher Education
East Carolina University, Shaw University (satellite campus), Pitt Community College
Economy and Employers –
The health care community in Greenville is one of the largest in the state of North Carolina. DSM - creates innovative products and services in Life Sciences and Materials Sciences. NACCO Materials Handling Group, Alliance One International, TRC, Inc., ASMO Greenville of North Carolina. Other Pitt County Businesses
Public Transportation The City of Greenville operates a mass transit bus system called Greenville Area Transit or GREAT.
276 Rocky Mount, NC Milken rank - 93 Unemp = 14.4% Pop. 145,596
5-yr Job Growth(02-06) 97.54 Rank: 87
5-yr Wages & Salaries Growth Score: 89.10 Rank: 118
5-yr Relative HT GDP Growth (2002-2007) Score: 80.30 Rank: 109
Population Growth since 2000 - +1.80%
Largest City - Rocky Mount (As of 2007, the city's population was 56,844)
Higher Education
Post-secondary institutions include Nash Community College,Shaw University, North Carolina Wesleyan College and Edgecombe Community College
Economy and Employers –
Abbott Laboratories, McLane (a food distribution subsidiary of Wal-Mart), Tarboro Textiles
278 Burlington, NC Milken rank - 57 Unemp = 12.4% Pop. 145,360
5-yr Job Growth(02-06) 96.75 Rank: 92
5-yr Wages & Salaries Growth Score: 91.17 Rank: 110
5-yr Relative HT GDP Growth (2002-2007) Score: 108.87 Rank: 48
Population Growth since 2000 - +11.13%
Largest City - Ann Arbor (7th largest city in Michigan, Pop. 114,024 as of the 2000 Census)
Higher Education
Elon University, Alamance Community College
Economy and Employers –
LabCorp, one of the largest clinical laboratory companies in the world, has its headquarters and several testing facilities in Burlington. LabCorp is Alamance County's largest employer, employing over 3,000 people in the county. Honda Aero, a subsidiary of Honda, recently announced that it will move its corporate headquarters to Burlington and build a $27 million plant at the Burlington-Alamance Regional Airport where it will build its HF120 jet engines for use in very light jets. Biscuitville, a regional fast food chain, is based in Burlington. Burlington is also the operations headquarters for Gold Toe Brands, a manufacturer of socks. Alamance General Medical Center, GKN Driveline, GKN Driveline Glen Raven
346 Goldsboro, NC Milken rank - n/a Unemp = 9.3% Pop. 113,590
5-yr Job Growth(02-06) n/a Rank: n/a
5-yr Wages & Salaries Growth Score: n/a Rank: n/a
5-yr Relative HT GDP Growth (2002-2007) Score: n/a Rank: n/a
Population Growth since 2000 - +.23%
Largest City - Goldsboro - Pop. 38,023 in 2006
Higher Education
Wayne Community College, North Carolina Wesleyan College - Goldsboro campus
Economy and Employers –
Seymour Johnson Air Force Base, Goldsboro Milling, Case farms, Mount Olive Pickle Company, Georgia Pacific, Cooper Standard Automotive, Franklin Baking, Waukesha Electric Systems, Wayne Memorial Hospital, Cherry Hospital, Berry Hospital, AT&T Technical support Center
The Hound is saddened to look at these numbers. When I look at these numbers and relate them to the nine markets in this analysis, here is what I see. Hickory (#191) is the only city in the bottom quartile of Milken's national analysis. Greensboro is the only other city in the bottom half (#141). The rest are in the top half and 5 MSAs are in the top quartile (Raleigh #2, Wilmington #6. Durham #21, Charlotte #26, and Asheville #46). Why is Hickory so far down this list and what are we going to do to correct this?
What these numbers show is that most of these cities did fairly well when it comes to growing their job base, but only Wilmington (#8) and Raleigh's (#11) numbers are truly impressive. Wage and Salary growth numbers were excellent for Raleigh (#11), Fayetteville (#11), Wilmington (#23), and Charlotte (#49), but they weren't very good for the other markets and Hickory's number is about as bad as it can get. What is even more important to see is that this state is falling way behind when it comes to developing High Tech Industries. Only Wilmington (#4) and Winston-Salem (#18) are doing well. Most everyone else isn't even in the ball park.
It is just sad that our state has no leadership. There are certainly some bright spots, but for the most part we can see that our state is happy with the status quo. Once again we see that tug of war between the old way and the new way. We can certainly see that Wilmington, Raleigh, and Charlotte are fairing well, but I think the rest of the state is putting a drag on their current ability to grow. Look at the Unemployment numbers. Raleigh-Durham, Asheville, Fayetteville, and Goldsboro are the only areas that are fairing as well or better than the nation. Hickory and Rocky Mount (two cities with Corning in common) are in a class by themselves when it comes to unemployment.
I think Raleigh and Wilmington are enjoying the fruits of reaching out to the Creative Class and the Knowledge Economy. Wilmington has moved forward with the Entertainment Industry and Raleigh has the Research Triangle Park. It also looks like Winston-Salem is enjoying growth in the Tech sector of its economy after investing many resources towards that endeavor. The tech numbers for this state truly sadden me. In the 80s and 90s, I certainly had the sense that the State of North Carolina was ahead of the curve in its investments in technology. What happened to the foundation we were building? Why did we stop? It is more than obvious that we have frittered our progress away.
As far as Hickory, it is easy to see how we have gotten into the predicament we are currently in, we haven't invested in the future. Compared to the other large markets, we are 9th in job growth, 9th in wage growth, and 8th in High-Tech GDP. We're just trying to get through the day. We have adapted down and we aren't laying a foundation to foster excellence. In relation to the rest of this state; we aren't growing jobs, we aren't paying people anything, and we aren't moving toward a High-Tech economy. We're sitting around, waiting to see what everyone else does before making decisions. What if every municipality in the country did that? Can you name one program that was ever innovated, initiated and implemented by our local government?
When you always follow, like that, then you will be lucky to get scraps. We have to do some things to kickstart our economy. We're going to have to take some chances and think outside of the box. If we don't soon start growing our economy, then raising taxes, fees, and/or cutting services will be inevitable. People are going to have to realize that you can't keep taxes low, if you have a shrinking tax base. If people aren't working, then they aren't paying taxes. If people leave town to seek work, then they won't be paying taxes here. If businesses shut their doors, then adios to that tax revenue. Those people that are left, and able, will have to share the burden.
When it comes to the Tech and Creative Industries in this state, it is more than obvious that we don't have much to follow. I have a novel concept for our local leaders, why don't we take the bull by the horns, get out in front, and initiate some action?
As I continued in the comments section of the last article, when looking at these similar sized communities across the nation, how their stats relate to Hickory, and the things that we can do to improve our economy; I can see the need to address a couple of items that can help foster development of the creative economy in our community.
We are amassing a lot of medical industry capacities, because of our central location and aging population. Why not somehow foster the ASU-Hickory partnership towards the Healthcare industry and a program to facilitate the development of Doctors and other Medical Professionals. If it isn't feasible to associate with App State in such a way, then why not UNC-Chapel Hill. There needs to be an affordable medical school on this side of the state. Peoria, Rockford, and Evansville are cities, that are close to our metro's size, that have satellite medical branches of their state universities.
I would also like to see L-R develop a law program. I see excellent private University Law Schools at Duke, Wake Forest, and Campbell. We need a Law school in this area and we have many excellent Lawyers available to join in the teaching process. Attorneys with a vested interest in Hickory can help advocate our status in Raleigh.
These are only a couple of suggestions. What do y'all think?
*** The info above was found on Wikipedia and a few other sites.
Hickory is #183 in 5-year job growth. This makes us #9 in the state.
Tuesday, July 28, 2009
Hickory Metro's Economy versus similar U.S. MSAs
Below I have have tried to bring together the Metropolitan Statistical Areas that rank closest to our own (Hickory-Lenoir-Morganton MSA). Our Metropolitan area is the 138 largest MSA market in the United States. I have included in this analysis, the 5 markets larger and 5 markets smaller than our own.
When we look at these similar metropolitan areas, that I mention below, the populations range from a high end of (Peoria, Illinois) 371,206 to a low end of (Fayetteville, North Carolina) 348,940. So as you can see these areas are very much similar to our own (360,471). The population growth, since 2000, of these cities range from a high of (Anchorage, Alaska) 13.37% to a low of (Peoria, Illinois) 1.18%. Out of these 10 cities, 6 had higher population growth rates than Hickory. 4 of these cities (Anchorage; Killeen, TX; Tallahassee, FL; and Rockford, IL) had growth rates above 10% and a fifth (Ann Arbor, MI) had a growth rate of 8.44%.
I have also included data, in the statistics below, from the Milken Institute. This is one factor that Richard Florida used to determine his creativity index that I alluded to in the previous article Hickory -- A Lack of Creativity?. "The Milken Institute/Greenstreet Real Estate Partners Best Performing Cities Index ranks U.S. metropolitan areas by how well they are creating and sustaining jobs and economic growth. The components include job, wage and salary, and technology growth. The full report can be downloaded here."
So here is the information on cities that correlate to our own as far as population. Three are State Capitals, one is the largest city in its state, several are home to major universities, and several have major military instillations. What you will see is that This Ain't Podunkville Anymore and recognizing that fact is one of the keys to solving our problems.
Stats below:
5-Year Job Growth - Metropolitan area job growth relative to the United States average between 2002 and 2007. U.S. average = 100.0
5-Year Wages & Salaries Growth - Salary and Wage disbursements growth relative to the United States average between 2001 and 2006. U.S. average = 100.0
5-Year Relative High Tech GDP Growth - High tech sector output growth relative to the United States average between 2002 and 2007. U.S. average = 100.0
133 Peoria, IL MSA Milken rank - 43 Unemp = 8.9%Pop. 371,206
5-yr Job Growth (02-06) 101.31 Rank: 81
5-yr Wages & Salaries Growth Score: 107.30 Rank: 44
5-yr Relative HT GDP Growth (2002-2007) Score: 106.15 Rank: 53
Populatin Growth since 2000 - +1.18%
Largest City – Peoria (113,546)
Higher education: Bradley University, Midstate College, the University of Illinois College of Medicine at Peoria, the Downtown and North campuses of Illinois Central College, and the Peoria campus of Robert Morris College are based in the city.
Public Transportation – (Peoria) - Public bus service is provided by the Greater Peoria Mass Transit District, which goes by the name CityLink.
Economy and Employers - AmerenCILCO, Archer Daniels Midland, Bergner's, Carson Pirie Scott & Co. Caterpillar Inc. (world headquarters), CEFCU — Credit union, Clifton Gunderson LLP (national headquarters) Komatsu Mining Systems, Maui Jim (world headquarters) , National Center for Agricultural Utilization Research — largest USDA research facility, RLI Corp. (world headquarters).
134 Killeen-Temple-Fort Hood, TX MSA Milken rank -13 Unemp = 6.1% Pop. 370,008
5-yr Job Growth (02-06) 103.26 Rank: 57
5-yr Wages & Salaries Growth Score: 1021.80 Rank: 8
5-yr Relative HT GDP Growth (2002-2007) Score: 133.55 Rank: 10
Population Growth since 2000 - +11.88%
Largest cities – Killeen 86,911 Temple 54,514 (both as of the 2000 census)
Higher Education – Texas A&M University–Central Texas, University of Mary Hardin-Baylor, Central Texas College (Community College)
Economy and Employers
Fort Hood - the largest army post in the United States
135 Montgomery, AL MSA Milken rank -38 Unemp = 8.9% Pop. 365,962
5-yr Job Growth (02-06) 102.33 Rank: 71
5-yr Wages & Salaries Growth Score: 104.46 Rank: 72
5-yr Relative HT GDP Growth (2002-2007) Score: 111.90 Rank: 34
Population Growth since 2000 - +5.61%
Largest City – Montgomery (Capital of Alabama, pop. 201,568 as of 2000 census)
Higher Education – public universities Alabama State University, Troy University (Montgomery campus), and Auburn University-Montgomery, private colleges/universities Faulkner University, Huntingdon College, and ABA-accredited law school Thomas Goode Jones School of Law
Economy and Employers
Maxwell Air Force Base, the State of Alabama, Baptist Health, Hyundai Motor Manufacturing Alabama , Alfa Insurance, the City of Montgomery, 754th Electronics Systems Group, Jackson Hospital & Clinic, and Rheem Water Heaters (1,150). One Fortune 1000 company, Colonial Bancgroup, is headquartered in Montgomery.
136 Trenton-Ewing, NJ MSA Milken rank -62 Unemp = 7.4% Pop. 365,449
5-yr Job Growth (02-06) 100.89 Rank: 86
5-yr Wages & Salaries Growth Score: 103.11 Rank: 82
5-yr Relative HT GDP Growth (2002-2007)6 Score: 105.30 Rank: 59
Population Growth since 2000 - +4.19%
Largest City – Trenton (Capital of New Jersey, Pop. 82,804)
Higher Education - Princeton University, Institute for Advanced Study, Rider University, The College of New Jersey, Thomas Edison State College and Mercer County Community College
Economy and Employers
The state of New Jersey
Public Transportation - Public transportation within the city and to/from its nearby suburbs is provided in the form of local bus routes run by New Jersey Transit. SEPTA also provides bus service to adjacent Bucks County, Pennsylvania.
137 Anchorage, AK MSA Milken rank -63 Unemp = 7.4% Pop. 362,340
5-yr Job Growth (02-06) 102.54 Rank: 67
5-yr Wages & Salaries Growth Score: 107.79 Rank: 38
5-yr Relative HT GDP Growth (2002-2007) Score: 101.28 Rank: 77
Population Growth since 2000 - +13.37%
Largest City – Anchorage (Alaska’s Largest City, Pop. 279,243
Higher Education – the University of Alaska Anchorage,[46] Alaska Pacific University, Charter College,[47] and the Anchorage campus of Texas-based Wayland Baptist University. Other continuing education facilities in Anchorage include the Grainger Leadership Institute, Nine Star Enterprises, CLE International, Nana Worksafe, and PackBear DBA Barr & Co.
Economy and Employers –
Anchorage's largest economic sectors include transportation, military, local and federal government, tourism, and resource extraction. The Ted Stevens Anchorage International Airport is the world's third busiest airport by cargo traffic, surpassed only by Memphis and Hong Kong. The Port of Anchorage receives 95% of all goods entering the state. The United States Military has two main bases, Elmendorf Air Force Base and Fort Richardson as well as the Kulis Air National Guard Base in Anchorage. While Juneau is the official state capital of Alaska, there are actually more state employees who reside in the Anchorage area. Many tourists are drawn to Alaska every year and Anchorage is commonly the first initial stop for most travelers. The resource sector, mainly petroleum, is arguably Anchorage's most visible industry, with many high rises bearing the logos of large multinationals such as BP and ConocoPhillips. Era Aviation and PenAir, two airlines, are headquartered in Anchorage.
Public Transportation -
Anchorage has a bus system called People Mover, with a central hub in downtown Anchorage and satellite hubs at Dimond Center and Muldoon Mall.
138 Hickory-Lenoir-Morganton, NC MSA Milken rank -191 Unemp = 15.4% Pop. 360,471
5-yr Job Growth (02-06) 91.09 Rank: 193
5-yr Wages & Salaries Growth Score: 86.91 Rank: 195
5-yr Relative HT GDP Growth (2002-2007) Score: 93.90 Rank: 130
Population Growth since 2000 - +5.46%
Largest City – Hickory (Pop. 42,000)
Higher Education – Lenoir-Rhyne University, Appalachian State – Hickory, Catawba Valley Community College, Caldwell Community College and Technical Institute, Western Piedmont Community College
Economy and Employers -
The Hickory area is home to many leading manufacturers of furniture (before most jobs in that industry were shipped over to China) and fiber optic cable. It is estimated that 60% of the nation's furniture used to be produced within a 200-mile (320 km) radius of Hickory. Forty percent of the world's fiber optic cable is made in the Hickory area. Lenoir is the headquarters of Broyhill Furniture company, one of the largest furniture companies in the United States and part of Furniture Brands International. It has historically been one of the town's largest employers. The Bernhardt and Fairfield furniture companies are also located in Lenoir. However, in the 1990s, these companies began outsourcing their work overseas, and they have closed many of Lenoir's furniture factories and laid off workers, causing many local businesses either to close or move to other cities. This has harmed the economy in Lenoir, leaving many households living below the poverty line.Google, Inc. has commenced construction of and opened a server farm in Lenoir. The move, it is hoped, will boost the local economy and provide much-needed jobs for the area, which has been harmed by outsourcing of furniture manufacturing jobs overseas.
139 Tallahassee, FL MSA Milken rank -115 Unemp = 7.1% Pop. 352,319
5-yr Job Growth (02-06) 102.99 Rank: 60
5-yr Wages & Salaries Growth Score: 100.86 Rank: 98
5-yr Relative HT GDP Growth (2002-2007) Score: 95.14 Rank: 119
Population Growth since 2000 - +10.00%
Largest City (Tallahassee, Capital of Florida, Pop. 168,979)
Higher Education –
Barry University School of Adult and Continuing Education - Tallahassee Campus, Flagler College - Tallahassee Campus, Florida A&M University, Florida State University, Keiser University - Tallahassee, Lewis M. Lively Area Vocational-Technical School, Tallahassee Community College
Economy and Employers
The State of Florida
Public Transportation –
StarMetro (formerly TalTran) provides bus service throughout the city.
140 Rockford, IL MSA Milken rank -155 Unemp = 13.4% Pop. 352,290
5-yr Job Growth (02-06) 97.99 Rank: 138
5-yr Wages & Salaries Growth Score: 93.92 Rank: 172
5-yr Relative HT GDP Growth (2002-2007) Score: 94.02 Rank: 127
Population Growth since 2000 - +10.02%
Largest City – (Rockford, Pop. 155,115 as of the 2000 census)
Higher Education
Rockford Business College, Rockford College, Rock Valley College, and St. Anthony College of Nursing. In addition, it hosts several satellite branches of other schools, including Judson College (based in Elgin), Northern Illinois University (based in DeKalb), Rasmussen College[3], and the University of Illinois College of Medicine (based in Chicago).
Economy and Employers –
The Rockford economy has suffered since the decline of the manufacturing industry in the late 1980s. In February 2009, The Wall Street Journal published a series of stories on Rockford and its mayor focusing on various challenges faced by the city, including higher unemployment and lower education levels of workers compared to some cities. The airport is home to United Parcel Service's second largest air-hub. The Chicago Rockford International Airport is presently ranked as the twenty-second largest cargo airport in the nation when measured by landed weight.
141 Ann Arbor, MI MSA Milken rank -192 Unemp = 9.1% Pop. 350,003
5-yr Job Growth(02-06) 91.45 Rank: 192
5-yr Wages & Salaries Growth Score: 93.05 Rank: 176
5-yr Relative HT GDP Growth (2002-2007) Score: 75.52 Rank: 191
Population Growth since 2000 - +8.44%
Largest City - Ann Arbor (7th largest city in Michigan, Pop. 114,024 as of the 2000 Census)
Higher Education
University of Michigan, Concordia University - Ann Arbor, a campus of the University of Phoenix, and Cleary University, Washtenaw Community College , Eastern Michigan University. Ave Maria School of Law
Economy and Employers –
The University of Michigan shapes Ann Arbor's economy significantly. It employs about 30,000 workers, including about 7,500 in the medical center. Other employers are drawn to the area by the university's research and development money, and by its graduates. High tech, health services and biotechnology are other major components of the city's economy; numerous medical offices, laboratories, and associated companies are located in the city.
Public Transportation - The Ann Arbor Transportation Authority (AATA), which brands itself as "The Ride", operates public bus services throughout Ann Arbor and nearby Ypsilanti.
142 Evansville, IN-KY MSA Milken rank -142 Unemp = 8.7% Pop. 349,717
5-yr Job Growth(02-06) 93.78 Rank: 186
5-yr Wages & Salaries Growth Score: 98.29 Rank: 128
5-yr Relative HT GDP Growth (2002-2007) Score: 106.62 Rank: 48
Population Growth since 2000 - +2.01%
Largest City - Ann Arbor (3rd largest city in Indiana, Pop. 121,582 as of the 2000 Census)
Higher Education
University of Evansville , University of Southern Indiana , The Indiana University School of Medicine -Evansville Center for Medical Education on the campus of USI. Ivy Tech Community College, ITT Tech, Harrison College, and Oakland City University's School of Adult and Extended Learning. Economics and
Economy and Employers –
Evansville is the regional center for a large trade area in Indiana, Kentucky, and Illinois. The broad economic base of the region has helped to build an economy which is known for its stability, diversity, and vitality. Major industries today include manufacturing, warehousing and distribution, retailing, health care, and finance and business services.
143 Fayetteville, NC MSA Milken rank -52 Unemp = 9.2% Pop. 348,940
5-yr Job Growth (02-06) 104.79 Rank: 41
5-yr Wages & Salaries Growth Score: 117.71 Rank: 11
5-yr Relative HT GDP Growth (2002-2007) Score: 98.86 Rank: 88
Population Growth since 2000 - +3.66%
Largest City - Fayetteville (Pop. 121,015 as of the 2000 Census)
Higher Education
Fayetteville State University, Methodist University, Fayetteville Technical Community College
Economy and Employers –
Fort Bragg and Pope Air Force Base.
The Hound believes that Hickory has the resources to compete with any one of the cities listed above. We used to be able to do that, but we have lost our Brand. Hickory was Furniture, Textiles, and Fiberoptics, but those industries are gone and we must find a new way.
Most of the cities above have had to deal with change and some are fairing better than others. Killeen, Peoria, and Montgomery are in the top quarter of MSAs as far as total economic growth numbers and Fayetteville, Trenton, and Anchorage aren't far behind.
What the Milken Institute numbers expose about Hickory-Lenoir-Morganton is that we saw poor job growth (193 out of 200), wage growth in this area has been abysmal (195 out of 200), and High Tech Industry is not being developed like it needs to be (High Tech GDP is 130 out of 200). The bottom line is that we are #191 out of 200 MSAs overall and that is unacceptable.
One issue that I have noticed from the statistics above is that all of these MSAs have a centrally focused city at the heart of the area. Hickory is the least populated, Largest City in the metros analyzed. Some of these Largest Cities dominate their statistical area. I think that the City of Hickory really needs to try to start growing. Hickory is at the heart of the MSA and it needs to be the straw that stirs the drink. We have to have successful businesses within the Hickory City Limits. We need to work with these businesses to help them grow and prosper, in turn Hickory will grow and prosper.
We must become proactive in developing our resources. Some of the areas above have more educational opportunities than us, but by no means do we appear to be lacking in comparison to most. The key isn't to have education available. The key is to move people towards educational resources that can be utilized with tangible opportunity brought to completion on the other end. We must develop employment opportunities for the educated at a living and sustainable wage.
This is why people need to realize that the opportunities brought forth by Google and Apple will bring positive momentum towards the Technology sector in our community. Tech is our way to get involved in the Creative Economy. Our local officials need to further foster these High Tech developments by expanding our Broadband capacities and creating favorable conditions necessary to achieve a High-Tech corridor. That will entice techies to move to the area and set up shop. I truly believe that will create good, productive, high paying jobs.
I believe the unemployment and underemployment issues we face today are undergirded by the consequences of a riddled puzzle long in the making. We as a city and region cannot solve our economic woes until we thoroughly break down and understand the consequences that have brought us to this point in our history. Look at Milken's numbers and you will see a definite correlation with unemployment statistics.
That is what I am attempting to do. We understand many of the issues we face, but how we face these issues will determine how efficiently and expediently we can bring this community back towards positive economic momentum. Let's just look at the facts and the statistics and leave personal feelings and attachments out of this process. I honestly believe that if we do that, then we will be able to revolutionize Hickory into something bigger, better, and brighter.
**edited Hickory is 193 in 5 year job growth statistics, not 83
When we look at these similar metropolitan areas, that I mention below, the populations range from a high end of (Peoria, Illinois) 371,206 to a low end of (Fayetteville, North Carolina) 348,940. So as you can see these areas are very much similar to our own (360,471). The population growth, since 2000, of these cities range from a high of (Anchorage, Alaska) 13.37% to a low of (Peoria, Illinois) 1.18%. Out of these 10 cities, 6 had higher population growth rates than Hickory. 4 of these cities (Anchorage; Killeen, TX; Tallahassee, FL; and Rockford, IL) had growth rates above 10% and a fifth (Ann Arbor, MI) had a growth rate of 8.44%.
I have also included data, in the statistics below, from the Milken Institute. This is one factor that Richard Florida used to determine his creativity index that I alluded to in the previous article Hickory -- A Lack of Creativity?. "The Milken Institute/Greenstreet Real Estate Partners Best Performing Cities Index ranks U.S. metropolitan areas by how well they are creating and sustaining jobs and economic growth. The components include job, wage and salary, and technology growth. The full report can be downloaded here."
So here is the information on cities that correlate to our own as far as population. Three are State Capitals, one is the largest city in its state, several are home to major universities, and several have major military instillations. What you will see is that This Ain't Podunkville Anymore and recognizing that fact is one of the keys to solving our problems.
Stats below:
5-Year Job Growth - Metropolitan area job growth relative to the United States average between 2002 and 2007. U.S. average = 100.0
5-Year Wages & Salaries Growth - Salary and Wage disbursements growth relative to the United States average between 2001 and 2006. U.S. average = 100.0
5-Year Relative High Tech GDP Growth - High tech sector output growth relative to the United States average between 2002 and 2007. U.S. average = 100.0
133 Peoria, IL MSA Milken rank - 43 Unemp = 8.9%Pop. 371,206
5-yr Job Growth (02-06) 101.31 Rank: 81
5-yr Wages & Salaries Growth Score: 107.30 Rank: 44
5-yr Relative HT GDP Growth (2002-2007) Score: 106.15 Rank: 53
Populatin Growth since 2000 - +1.18%
Largest City – Peoria (113,546)
Higher education: Bradley University, Midstate College, the University of Illinois College of Medicine at Peoria, the Downtown and North campuses of Illinois Central College, and the Peoria campus of Robert Morris College are based in the city.
Public Transportation – (Peoria) - Public bus service is provided by the Greater Peoria Mass Transit District, which goes by the name CityLink.
Economy and Employers - AmerenCILCO, Archer Daniels Midland, Bergner's, Carson Pirie Scott & Co. Caterpillar Inc. (world headquarters), CEFCU — Credit union, Clifton Gunderson LLP (national headquarters) Komatsu Mining Systems, Maui Jim (world headquarters) , National Center for Agricultural Utilization Research — largest USDA research facility, RLI Corp. (world headquarters).
134 Killeen-Temple-Fort Hood, TX MSA Milken rank -13 Unemp = 6.1% Pop. 370,008
5-yr Job Growth (02-06) 103.26 Rank: 57
5-yr Wages & Salaries Growth Score: 1021.80 Rank: 8
5-yr Relative HT GDP Growth (2002-2007) Score: 133.55 Rank: 10
Population Growth since 2000 - +11.88%
Largest cities – Killeen 86,911 Temple 54,514 (both as of the 2000 census)
Higher Education – Texas A&M University–Central Texas, University of Mary Hardin-Baylor, Central Texas College (Community College)
Economy and Employers
Fort Hood - the largest army post in the United States
135 Montgomery, AL MSA Milken rank -38 Unemp = 8.9% Pop. 365,962
5-yr Job Growth (02-06) 102.33 Rank: 71
5-yr Wages & Salaries Growth Score: 104.46 Rank: 72
5-yr Relative HT GDP Growth (2002-2007) Score: 111.90 Rank: 34
Population Growth since 2000 - +5.61%
Largest City – Montgomery (Capital of Alabama, pop. 201,568 as of 2000 census)
Higher Education – public universities Alabama State University, Troy University (Montgomery campus), and Auburn University-Montgomery, private colleges/universities Faulkner University, Huntingdon College, and ABA-accredited law school Thomas Goode Jones School of Law
Economy and Employers
Maxwell Air Force Base, the State of Alabama, Baptist Health, Hyundai Motor Manufacturing Alabama , Alfa Insurance, the City of Montgomery, 754th Electronics Systems Group, Jackson Hospital & Clinic, and Rheem Water Heaters (1,150). One Fortune 1000 company, Colonial Bancgroup, is headquartered in Montgomery.
136 Trenton-Ewing, NJ MSA Milken rank -62 Unemp = 7.4% Pop. 365,449
5-yr Job Growth (02-06) 100.89 Rank: 86
5-yr Wages & Salaries Growth Score: 103.11 Rank: 82
5-yr Relative HT GDP Growth (2002-2007)6 Score: 105.30 Rank: 59
Population Growth since 2000 - +4.19%
Largest City – Trenton (Capital of New Jersey, Pop. 82,804)
Higher Education - Princeton University, Institute for Advanced Study, Rider University, The College of New Jersey, Thomas Edison State College and Mercer County Community College
Economy and Employers
The state of New Jersey
Public Transportation - Public transportation within the city and to/from its nearby suburbs is provided in the form of local bus routes run by New Jersey Transit. SEPTA also provides bus service to adjacent Bucks County, Pennsylvania.
137 Anchorage, AK MSA Milken rank -63 Unemp = 7.4% Pop. 362,340
5-yr Job Growth (02-06) 102.54 Rank: 67
5-yr Wages & Salaries Growth Score: 107.79 Rank: 38
5-yr Relative HT GDP Growth (2002-2007) Score: 101.28 Rank: 77
Population Growth since 2000 - +13.37%
Largest City – Anchorage (Alaska’s Largest City, Pop. 279,243
Higher Education – the University of Alaska Anchorage,[46] Alaska Pacific University, Charter College,[47] and the Anchorage campus of Texas-based Wayland Baptist University. Other continuing education facilities in Anchorage include the Grainger Leadership Institute, Nine Star Enterprises, CLE International, Nana Worksafe, and PackBear DBA Barr & Co.
Economy and Employers –
Anchorage's largest economic sectors include transportation, military, local and federal government, tourism, and resource extraction. The Ted Stevens Anchorage International Airport is the world's third busiest airport by cargo traffic, surpassed only by Memphis and Hong Kong. The Port of Anchorage receives 95% of all goods entering the state. The United States Military has two main bases, Elmendorf Air Force Base and Fort Richardson as well as the Kulis Air National Guard Base in Anchorage. While Juneau is the official state capital of Alaska, there are actually more state employees who reside in the Anchorage area. Many tourists are drawn to Alaska every year and Anchorage is commonly the first initial stop for most travelers. The resource sector, mainly petroleum, is arguably Anchorage's most visible industry, with many high rises bearing the logos of large multinationals such as BP and ConocoPhillips. Era Aviation and PenAir, two airlines, are headquartered in Anchorage.
Public Transportation -
Anchorage has a bus system called People Mover, with a central hub in downtown Anchorage and satellite hubs at Dimond Center and Muldoon Mall.
138 Hickory-Lenoir-Morganton, NC MSA Milken rank -191 Unemp = 15.4% Pop. 360,471
5-yr Job Growth (02-06) 91.09 Rank: 193
5-yr Wages & Salaries Growth Score: 86.91 Rank: 195
5-yr Relative HT GDP Growth (2002-2007) Score: 93.90 Rank: 130
Population Growth since 2000 - +5.46%
Largest City – Hickory (Pop. 42,000)
Higher Education – Lenoir-Rhyne University, Appalachian State – Hickory, Catawba Valley Community College, Caldwell Community College and Technical Institute, Western Piedmont Community College
Economy and Employers -
The Hickory area is home to many leading manufacturers of furniture (before most jobs in that industry were shipped over to China) and fiber optic cable. It is estimated that 60% of the nation's furniture used to be produced within a 200-mile (320 km) radius of Hickory. Forty percent of the world's fiber optic cable is made in the Hickory area. Lenoir is the headquarters of Broyhill Furniture company, one of the largest furniture companies in the United States and part of Furniture Brands International. It has historically been one of the town's largest employers. The Bernhardt and Fairfield furniture companies are also located in Lenoir. However, in the 1990s, these companies began outsourcing their work overseas, and they have closed many of Lenoir's furniture factories and laid off workers, causing many local businesses either to close or move to other cities. This has harmed the economy in Lenoir, leaving many households living below the poverty line.Google, Inc. has commenced construction of and opened a server farm in Lenoir. The move, it is hoped, will boost the local economy and provide much-needed jobs for the area, which has been harmed by outsourcing of furniture manufacturing jobs overseas.
139 Tallahassee, FL MSA Milken rank -115 Unemp = 7.1% Pop. 352,319
5-yr Job Growth (02-06) 102.99 Rank: 60
5-yr Wages & Salaries Growth Score: 100.86 Rank: 98
5-yr Relative HT GDP Growth (2002-2007) Score: 95.14 Rank: 119
Population Growth since 2000 - +10.00%
Largest City (Tallahassee, Capital of Florida, Pop. 168,979)
Higher Education –
Barry University School of Adult and Continuing Education - Tallahassee Campus, Flagler College - Tallahassee Campus, Florida A&M University, Florida State University, Keiser University - Tallahassee, Lewis M. Lively Area Vocational-Technical School, Tallahassee Community College
Economy and Employers
The State of Florida
Public Transportation –
StarMetro (formerly TalTran) provides bus service throughout the city.
140 Rockford, IL MSA Milken rank -155 Unemp = 13.4% Pop. 352,290
5-yr Job Growth (02-06) 97.99 Rank: 138
5-yr Wages & Salaries Growth Score: 93.92 Rank: 172
5-yr Relative HT GDP Growth (2002-2007) Score: 94.02 Rank: 127
Population Growth since 2000 - +10.02%
Largest City – (Rockford, Pop. 155,115 as of the 2000 census)
Higher Education
Rockford Business College, Rockford College, Rock Valley College, and St. Anthony College of Nursing. In addition, it hosts several satellite branches of other schools, including Judson College (based in Elgin), Northern Illinois University (based in DeKalb), Rasmussen College[3], and the University of Illinois College of Medicine (based in Chicago).
Economy and Employers –
The Rockford economy has suffered since the decline of the manufacturing industry in the late 1980s. In February 2009, The Wall Street Journal published a series of stories on Rockford and its mayor focusing on various challenges faced by the city, including higher unemployment and lower education levels of workers compared to some cities. The airport is home to United Parcel Service's second largest air-hub. The Chicago Rockford International Airport is presently ranked as the twenty-second largest cargo airport in the nation when measured by landed weight.
141 Ann Arbor, MI MSA Milken rank -192 Unemp = 9.1% Pop. 350,003
5-yr Job Growth(02-06) 91.45 Rank: 192
5-yr Wages & Salaries Growth Score: 93.05 Rank: 176
5-yr Relative HT GDP Growth (2002-2007) Score: 75.52 Rank: 191
Population Growth since 2000 - +8.44%
Largest City - Ann Arbor (7th largest city in Michigan, Pop. 114,024 as of the 2000 Census)
Higher Education
University of Michigan, Concordia University - Ann Arbor, a campus of the University of Phoenix, and Cleary University, Washtenaw Community College , Eastern Michigan University. Ave Maria School of Law
Economy and Employers –
The University of Michigan shapes Ann Arbor's economy significantly. It employs about 30,000 workers, including about 7,500 in the medical center. Other employers are drawn to the area by the university's research and development money, and by its graduates. High tech, health services and biotechnology are other major components of the city's economy; numerous medical offices, laboratories, and associated companies are located in the city.
Public Transportation - The Ann Arbor Transportation Authority (AATA), which brands itself as "The Ride", operates public bus services throughout Ann Arbor and nearby Ypsilanti.
142 Evansville, IN-KY MSA Milken rank -142 Unemp = 8.7% Pop. 349,717
5-yr Job Growth(02-06) 93.78 Rank: 186
5-yr Wages & Salaries Growth Score: 98.29 Rank: 128
5-yr Relative HT GDP Growth (2002-2007) Score: 106.62 Rank: 48
Population Growth since 2000 - +2.01%
Largest City - Ann Arbor (3rd largest city in Indiana, Pop. 121,582 as of the 2000 Census)
Higher Education
University of Evansville , University of Southern Indiana , The Indiana University School of Medicine -Evansville Center for Medical Education on the campus of USI. Ivy Tech Community College, ITT Tech, Harrison College, and Oakland City University's School of Adult and Extended Learning. Economics and
Economy and Employers –
Evansville is the regional center for a large trade area in Indiana, Kentucky, and Illinois. The broad economic base of the region has helped to build an economy which is known for its stability, diversity, and vitality. Major industries today include manufacturing, warehousing and distribution, retailing, health care, and finance and business services.
143 Fayetteville, NC MSA Milken rank -52 Unemp = 9.2% Pop. 348,940
5-yr Job Growth (02-06) 104.79 Rank: 41
5-yr Wages & Salaries Growth Score: 117.71 Rank: 11
5-yr Relative HT GDP Growth (2002-2007) Score: 98.86 Rank: 88
Population Growth since 2000 - +3.66%
Largest City - Fayetteville (Pop. 121,015 as of the 2000 Census)
Higher Education
Fayetteville State University, Methodist University, Fayetteville Technical Community College
Economy and Employers –
Fort Bragg and Pope Air Force Base.
The Hound believes that Hickory has the resources to compete with any one of the cities listed above. We used to be able to do that, but we have lost our Brand. Hickory was Furniture, Textiles, and Fiberoptics, but those industries are gone and we must find a new way.
Most of the cities above have had to deal with change and some are fairing better than others. Killeen, Peoria, and Montgomery are in the top quarter of MSAs as far as total economic growth numbers and Fayetteville, Trenton, and Anchorage aren't far behind.
What the Milken Institute numbers expose about Hickory-Lenoir-Morganton is that we saw poor job growth (193 out of 200), wage growth in this area has been abysmal (195 out of 200), and High Tech Industry is not being developed like it needs to be (High Tech GDP is 130 out of 200). The bottom line is that we are #191 out of 200 MSAs overall and that is unacceptable.
One issue that I have noticed from the statistics above is that all of these MSAs have a centrally focused city at the heart of the area. Hickory is the least populated, Largest City in the metros analyzed. Some of these Largest Cities dominate their statistical area. I think that the City of Hickory really needs to try to start growing. Hickory is at the heart of the MSA and it needs to be the straw that stirs the drink. We have to have successful businesses within the Hickory City Limits. We need to work with these businesses to help them grow and prosper, in turn Hickory will grow and prosper.
We must become proactive in developing our resources. Some of the areas above have more educational opportunities than us, but by no means do we appear to be lacking in comparison to most. The key isn't to have education available. The key is to move people towards educational resources that can be utilized with tangible opportunity brought to completion on the other end. We must develop employment opportunities for the educated at a living and sustainable wage.
This is why people need to realize that the opportunities brought forth by Google and Apple will bring positive momentum towards the Technology sector in our community. Tech is our way to get involved in the Creative Economy. Our local officials need to further foster these High Tech developments by expanding our Broadband capacities and creating favorable conditions necessary to achieve a High-Tech corridor. That will entice techies to move to the area and set up shop. I truly believe that will create good, productive, high paying jobs.
I believe the unemployment and underemployment issues we face today are undergirded by the consequences of a riddled puzzle long in the making. We as a city and region cannot solve our economic woes until we thoroughly break down and understand the consequences that have brought us to this point in our history. Look at Milken's numbers and you will see a definite correlation with unemployment statistics.
That is what I am attempting to do. We understand many of the issues we face, but how we face these issues will determine how efficiently and expediently we can bring this community back towards positive economic momentum. Let's just look at the facts and the statistics and leave personal feelings and attachments out of this process. I honestly believe that if we do that, then we will be able to revolutionize Hickory into something bigger, better, and brighter.
**edited Hickory is 193 in 5 year job growth statistics, not 83
Saturday, July 25, 2009
Hickory -- A Lack of Creativity?
We are living in a transitional age. A period of transitioning out of the industrial age and into an age of individual empowerment. That is causing great discomfort in our region, because many of the people here in our metropolitan area were married and devoted to Manufacturing and Production industries. The loss of these industries gives people a feeling of loss and abandonment.
Abandonment is defined as, to leave completely and finally; forsake utterly; desert. Abandonment is a core human fear that everyone has experienced at some point in their lives. The people in our area, who are suffering through these rough economic times, brought about by unemployment or underemployment, feel lost and/or helpless, because the structure they were depending on for their very survival has disappeared.
These issues of Abandonment tend to damage ones self-esteem. The loss of our manufacturing economy is much like abandonment by a friend. When a friend abandons you, they are still alive, but the pain that we feel is a sense of rejection. That is much the same as the people in this area who have employment issues. These people have not only lost their way of life; they have lost their sense of self.
What our area is going through economically is overwhelming to many of our citizens. They are wary of the rapid change we are seeing and suffering Anxiety at the thought of having to adjust to such a different world. But, we cannot stop this change!!! We are part of this new global experience, whether we are willing participants or not. We can and must have an open dialogue about the future, but one thing is certain, we better get on the road that will lead to better economic circumstances; because the longer we wait, the harder the road will be to hoe. Doing nothing is not an option.
I believe the current economic climate in this nation requires that we define a new parameter of economic circumstance. We have to come to grips with the realization that our Manufacturing Industries are not coming back. Right now, around one-third of the Hickory metro's businesses are manufacturing. That is compared to 12% nationally and it is down from over 50% less than 20 years ago. We are suffering from that negative momentum and it is a waste of time to look in the rear-view mirror. We are going to have to redevelop our job structure by joining the new age of creativity and knowledge.
People must come to the realization that careers will no longer be determined by specific tasks. Employment will be determined by broader generalities. You will have to define yourself by the strength of your skill-set. Whatever you are good at and your niche and interests will determine your career. This means that your unique, and in many ways inherent, skill-set will determine your employability.
The name Richard Florida has been brought up in the Economic Development circles I have been involving myself in as of late. His focus is on social and economic theory. He is currently a professor at the University of Toronto. While he was teaching at Carnegie-Mellon University (in Pittsburgh, PA), he wrote a book called The Rise of the Creative Class. He believes the development of the Creative Class is a key driving force for economic development of post-industrial cities in the USA.
He wrote an article in the Washington Monthly, in May 2002, that describes his thesis of the Creative Class. The article is entitled The Rise of the Creative Class - Why cities without gays and rock bands are losing the economic development race. While I don't completely agree with some of what the man espouses, I do agree with many of his premises.
In the article he displays a system of what he calls Creativity Rankings. Below is a summary of their meaning:
We were ranked #61 out of 63, in the percentage of Creative Jobs that existed in the community versus total jobs in the community. (Wiki) Creative industries typically include industries that focus on: creating and exploiting intellectual property products such as music, books, film and games; or providing business-to-business creative services including advertising, public relations and direct marketing. Hickory also ranked near the bottom fourth, #48 out of 63, in High-Tech jobs. In the other two categories, Innovation and Diversity, we were ranked in the middle, #32 and #30 respectively.
The Hounds Opinion - This article by Mr. Florida is seven years old, but I feel it holds a lot of relevance towards what Hickory has seen over the last seven years. I think over time that I will be able too prove the division between what I have constituted as Old Hickory and New Hickory. Some may not like the semantics of the term "Old Hickory," but I do feel it is the reality of our current circumstances.
The correlation between the issues that Florida describes with Pittsburgh of 2002 are much like the issues that our own city faces. Pittsburgh is a lot larger than Hickory, but it is in the foothills of western Pennsylvania like Hickory is in the foothills of western North Carolina. It was an industrial city that was primarily developed around steel, much like we developed on furniture and textiles. Pittsburgh has an excellent educational system that supports three major universities. And the most predominant issue Florida describes in this article is how the city can retain its best and brightest citizens.
Pittsburgh has apparently dealt better with the transition that Florida describes in this article. Their unemployment level is 7.3% compared to this areas 15.5% problem. Pittsburgh's primary industries have shifted more to high technology, such as robotics, health care, nuclear engineering, tourism, biomedical technology, finance, and services.
The people of Hickory should recognize that this city has a lot going for it, but we have to be honest about where we stand and willing to change the direction of this city to take advantage of its resources. We are losing many of our best and brightest young people and the numbers bear that out. While the middle-aged and elderly populations have grown substantially in the area, the 18 to 45 aged bracket has stood still since the year 2000. That reminds me of a church that doesn't add younger members. It is sure to fail. If we don't turn this situation around, then the writing is on the wall about the future viability of Hickory.
Hickory can no longer afford to give business "the business." We are moving into an age of connections and our government must become more adaptive and friendly to the needs of all business. If we want to grow this city, we must make sure that we have growing commercial enterprises. Lay out the ground rules, be consistent in the implementation, know what you are talking about, know the answers, and help entrepreneurs do their thing. Their needs to be an open dialogue between all of the citizens and city government. We must all come together.
A key to creativity is understanding and accepting the needs and differences of individuals. We should foster a tolerance of new realities. Many of today's realities were thought to be totally unrealistic and inconceivable in the past. In my opinion, we are running people out of this area and limiting our options, because we want people to conform to a template. We hear a lot about like-mindedness, but what about diversity? In the end, we can debate all of our differences, but we need to leave our egos behind and do what is needed to move this city forward in a positive direction. Everyone must be made aware that, from top to bottom, we are all in this thing together; because divided we will be sure to fall, but if we begin to collaborate, then we will soon stand in the positive reality of a bright and shiny Hickory.
Abandonment is defined as, to leave completely and finally; forsake utterly; desert. Abandonment is a core human fear that everyone has experienced at some point in their lives. The people in our area, who are suffering through these rough economic times, brought about by unemployment or underemployment, feel lost and/or helpless, because the structure they were depending on for their very survival has disappeared.
These issues of Abandonment tend to damage ones self-esteem. The loss of our manufacturing economy is much like abandonment by a friend. When a friend abandons you, they are still alive, but the pain that we feel is a sense of rejection. That is much the same as the people in this area who have employment issues. These people have not only lost their way of life; they have lost their sense of self.
What our area is going through economically is overwhelming to many of our citizens. They are wary of the rapid change we are seeing and suffering Anxiety at the thought of having to adjust to such a different world. But, we cannot stop this change!!! We are part of this new global experience, whether we are willing participants or not. We can and must have an open dialogue about the future, but one thing is certain, we better get on the road that will lead to better economic circumstances; because the longer we wait, the harder the road will be to hoe. Doing nothing is not an option.
I believe the current economic climate in this nation requires that we define a new parameter of economic circumstance. We have to come to grips with the realization that our Manufacturing Industries are not coming back. Right now, around one-third of the Hickory metro's businesses are manufacturing. That is compared to 12% nationally and it is down from over 50% less than 20 years ago. We are suffering from that negative momentum and it is a waste of time to look in the rear-view mirror. We are going to have to redevelop our job structure by joining the new age of creativity and knowledge.
People must come to the realization that careers will no longer be determined by specific tasks. Employment will be determined by broader generalities. You will have to define yourself by the strength of your skill-set. Whatever you are good at and your niche and interests will determine your career. This means that your unique, and in many ways inherent, skill-set will determine your employability.
The name Richard Florida has been brought up in the Economic Development circles I have been involving myself in as of late. His focus is on social and economic theory. He is currently a professor at the University of Toronto. While he was teaching at Carnegie-Mellon University (in Pittsburgh, PA), he wrote a book called The Rise of the Creative Class. He believes the development of the Creative Class is a key driving force for economic development of post-industrial cities in the USA.
He wrote an article in the Washington Monthly, in May 2002, that describes his thesis of the Creative Class. The article is entitled The Rise of the Creative Class - Why cities without gays and rock bands are losing the economic development race. While I don't completely agree with some of what the man espouses, I do agree with many of his premises.
In the article he displays a system of what he calls Creativity Rankings. Below is a summary of their meaning:
The key to economic growth lies not just in the ability to attract the creative class, but to translate that underlying advantage into creative economic outcomes in the form of new ideas, new high-tech businesses and regional growth. To better gauge these capabilities, I developed a new measure called the Creativity Index (column 1).If you take a look at the article, you will see that the Hickory MSA was ranked #54 out of 63 in the Small Size City Rankings when this article was published in 2002. These rankings consisted of 63 metro areas reporting populations 250,000 to 500,000 in the 2000 Census.
The Creativity Index is a mix of four equally weighted factors: the creative class share of the workforce (column 2 shows the percentage; column 3 ranks cities accordingly); high-tech industry, using the Milken Institute's widely accepted Tech Pole Index, which I refer to as the High-Tech Index (column 4); innovation, measured as patents per capita (column 5); and diversity, measured by the Gay Index, a reasonable proxy for an area's openness to different kinds of people and ideas (column 6).
This composite indicator is a better measure of a region's underlying creative capabilities than the simple measure of the creative class, because it reflects the joint effects of its concentration and of innovative economic outcomes. The Creativity Index is thus my baseline indicator of a region's overall standing in the creative economy and I offer it as a barometer of a region's longer run economic potential. The following tables present my creativity index ranking for the top 10 and bottom 10 metropolitan areas, grouped into three size categories (large, medium-sized and small cities/regions).
We were ranked #61 out of 63, in the percentage of Creative Jobs that existed in the community versus total jobs in the community. (Wiki) Creative industries typically include industries that focus on: creating and exploiting intellectual property products such as music, books, film and games; or providing business-to-business creative services including advertising, public relations and direct marketing. Hickory also ranked near the bottom fourth, #48 out of 63, in High-Tech jobs. In the other two categories, Innovation and Diversity, we were ranked in the middle, #32 and #30 respectively.
The Hounds Opinion - This article by Mr. Florida is seven years old, but I feel it holds a lot of relevance towards what Hickory has seen over the last seven years. I think over time that I will be able too prove the division between what I have constituted as Old Hickory and New Hickory. Some may not like the semantics of the term "Old Hickory," but I do feel it is the reality of our current circumstances.
The correlation between the issues that Florida describes with Pittsburgh of 2002 are much like the issues that our own city faces. Pittsburgh is a lot larger than Hickory, but it is in the foothills of western Pennsylvania like Hickory is in the foothills of western North Carolina. It was an industrial city that was primarily developed around steel, much like we developed on furniture and textiles. Pittsburgh has an excellent educational system that supports three major universities. And the most predominant issue Florida describes in this article is how the city can retain its best and brightest citizens.
Pittsburgh has apparently dealt better with the transition that Florida describes in this article. Their unemployment level is 7.3% compared to this areas 15.5% problem. Pittsburgh's primary industries have shifted more to high technology, such as robotics, health care, nuclear engineering, tourism, biomedical technology, finance, and services.
The people of Hickory should recognize that this city has a lot going for it, but we have to be honest about where we stand and willing to change the direction of this city to take advantage of its resources. We are losing many of our best and brightest young people and the numbers bear that out. While the middle-aged and elderly populations have grown substantially in the area, the 18 to 45 aged bracket has stood still since the year 2000. That reminds me of a church that doesn't add younger members. It is sure to fail. If we don't turn this situation around, then the writing is on the wall about the future viability of Hickory.
Hickory can no longer afford to give business "the business." We are moving into an age of connections and our government must become more adaptive and friendly to the needs of all business. If we want to grow this city, we must make sure that we have growing commercial enterprises. Lay out the ground rules, be consistent in the implementation, know what you are talking about, know the answers, and help entrepreneurs do their thing. Their needs to be an open dialogue between all of the citizens and city government. We must all come together.
A key to creativity is understanding and accepting the needs and differences of individuals. We should foster a tolerance of new realities. Many of today's realities were thought to be totally unrealistic and inconceivable in the past. In my opinion, we are running people out of this area and limiting our options, because we want people to conform to a template. We hear a lot about like-mindedness, but what about diversity? In the end, we can debate all of our differences, but we need to leave our egos behind and do what is needed to move this city forward in a positive direction. Everyone must be made aware that, from top to bottom, we are all in this thing together; because divided we will be sure to fall, but if we begin to collaborate, then we will soon stand in the positive reality of a bright and shiny Hickory.
Friday, July 24, 2009
20 months of Recession (December 2007 to Present)
List of Recessions in U.S. History
The United States is now in its 20th month of recession. According to statistics provided by the National Bureau of Economic Research, this is the longest contraction of our economy since the Great Depression. The Great Depression lasted for 43 months, from August 1929 until March 1933 most believe. This was followed by a period of slow, but gradual recovery until 1937, when the United states went into recession again. The 1937 recession is considered to have lasted for 13 months between May 1937 and June 1938. The recovery between 1933 and 1937 did not result in lowered unemployment and thus many people still considered it to be a period of malaise. The 1937 recession lasted for 13 months, but when considering these two contractions together, one could say that the contractionary period was actually 94 months.
The next longest recession, during modern times, was from July 1981 to November 1982. That recession, during Reagan's first term, lasted for 16 months. It had been preceded by a 2 quarter recession from January 1980 until July 1980. If one looks at these recessions in the proper context, they were basically one recession that began with Carter in January 1980 and lasted 34 months.
The Hounds believes that we are going to see a period of time where we see a muted recovery as we saw in the two recessions shown above and then we are going to head right back into a contraction that will be worse than what we are seeing now.
I am not saying that we are seeing the end of the first part of this cycle, but I do believe the recent stock market recovery to 9,000 indicates that this muted recovery is on the horizon. I believe the dynamics are being fostered by the moderation of the rise in fuel costs we have seen the last few months, the increase in the money supply and capital of financial institutions, the possibility that Obama may be stopped from implementing some of his agenda, and most of all the length of time we have been in this contraction (recession). But, our energy prices are precarious with all of the international issues and hurricane season on the way. We are still very vulnerable on that issue.
In Finance, there is a term called a Dead Cat Bounce. It involves commodities, such as stocks, but I believe that it also can relate to any type of economic activity. With the Dead Cat Bounce, a pattern develops where the commodity declines substantially followed by a moderate and temporary rise in value, before the commodity resumes its downward movement. This rise is not an indication of improving circumstances in the fundamentals of the commodity. The saying goes "even a dead cat will bounce if it falls from a great height."
Yes, we will eventually see improvement from the contraction, but it is going to be really hard to tell what is real and what isn't. Don't be so sure that we aren't seeing a lot of Pump and Dump activities going on with the stock market. The fundamentals just aren't there to justify a recovery, but people are grasping at anything to find something they believe will justify an economic recovery. Right now, there are two types of investors in this market, those who crave an economic recovery so they can start making money again and those who are looking to hype their positions so that they can sell them, because they are looking to salvage as much money as they can from the losses they have incurred.
I believe a double dip recession is inevitable, because you cannot have a real, sustainable economic recovery without a significant improvement in the job picture. We have real problems with our country's ability to grow jobs. The other issue is that of inflation. With as much money as we have seen put in the system, as soon as any signs of economic recovery come along, you are going to see a rise in commodity prices. That starts the cycle over again.
Until we find something to produce and the government gets off of the backs of job creators, it is going to be impossible to have a lasting and worthwhile recovery. Our leaders, in every level of government, are going to have to take some chances along the way, because we have fundamentally changed the economic structure of our nation. We cannot sit around and wait for the picture to improve. We are going to have to take proactive stances and government officials are going to have to find the inner strength needed to rediscover their roots as public servants.
If our government were a company, would you say it was well run? If you had a nest egg for retirement, would you let our current government take care of it? It is time that people start expecting our government to be run like a business. The government has a fiduciary responsibility to look out for everyones interests. Whether the government invests in a project or institutes a program, it is time to set some goals, assess the risks, implement the tasks in an efficient manner, and take care of the shareholders of the United States Treasury; which is supposed to be the Citizens of the United States.
The United States is now in its 20th month of recession. According to statistics provided by the National Bureau of Economic Research, this is the longest contraction of our economy since the Great Depression. The Great Depression lasted for 43 months, from August 1929 until March 1933 most believe. This was followed by a period of slow, but gradual recovery until 1937, when the United states went into recession again. The 1937 recession is considered to have lasted for 13 months between May 1937 and June 1938. The recovery between 1933 and 1937 did not result in lowered unemployment and thus many people still considered it to be a period of malaise. The 1937 recession lasted for 13 months, but when considering these two contractions together, one could say that the contractionary period was actually 94 months.
By 1936, all the main economic indicators had regained the levels of the late 1920s, except for unemployment, which remained high, although it was considerably lower than the 25% unemployment rate seen in 1933. In 1937, the American economy took an unexpected downturn, lasting through most of 1938. Production declined sharply, as did profits and employment. Unemployment jumped from 14.3% in 1937 to 19.0% in 1938. In two months, unemployment rose from 5 million to over 9 million, reaching almost 12 million in early 1938. Manufacturing output fell off by 40% from the 1937 peak; it was back to 1934 levels.Unemployment was considered to be improving, when it was 14.3% in 1937. It had fallen from 25% to that level. We haven't seen those terrible numbers yet, but are they on the horizon? The depression numbers seem to point to a correlation between manufacturing and unemployment. That is a lot like what we have seen in our local area.
The next longest recession, during modern times, was from July 1981 to November 1982. That recession, during Reagan's first term, lasted for 16 months. It had been preceded by a 2 quarter recession from January 1980 until July 1980. If one looks at these recessions in the proper context, they were basically one recession that began with Carter in January 1980 and lasted 34 months.
The Hounds believes that we are going to see a period of time where we see a muted recovery as we saw in the two recessions shown above and then we are going to head right back into a contraction that will be worse than what we are seeing now.
I am not saying that we are seeing the end of the first part of this cycle, but I do believe the recent stock market recovery to 9,000 indicates that this muted recovery is on the horizon. I believe the dynamics are being fostered by the moderation of the rise in fuel costs we have seen the last few months, the increase in the money supply and capital of financial institutions, the possibility that Obama may be stopped from implementing some of his agenda, and most of all the length of time we have been in this contraction (recession). But, our energy prices are precarious with all of the international issues and hurricane season on the way. We are still very vulnerable on that issue.
In Finance, there is a term called a Dead Cat Bounce. It involves commodities, such as stocks, but I believe that it also can relate to any type of economic activity. With the Dead Cat Bounce, a pattern develops where the commodity declines substantially followed by a moderate and temporary rise in value, before the commodity resumes its downward movement. This rise is not an indication of improving circumstances in the fundamentals of the commodity. The saying goes "even a dead cat will bounce if it falls from a great height."
Yes, we will eventually see improvement from the contraction, but it is going to be really hard to tell what is real and what isn't. Don't be so sure that we aren't seeing a lot of Pump and Dump activities going on with the stock market. The fundamentals just aren't there to justify a recovery, but people are grasping at anything to find something they believe will justify an economic recovery. Right now, there are two types of investors in this market, those who crave an economic recovery so they can start making money again and those who are looking to hype their positions so that they can sell them, because they are looking to salvage as much money as they can from the losses they have incurred.
I believe a double dip recession is inevitable, because you cannot have a real, sustainable economic recovery without a significant improvement in the job picture. We have real problems with our country's ability to grow jobs. The other issue is that of inflation. With as much money as we have seen put in the system, as soon as any signs of economic recovery come along, you are going to see a rise in commodity prices. That starts the cycle over again.
Until we find something to produce and the government gets off of the backs of job creators, it is going to be impossible to have a lasting and worthwhile recovery. Our leaders, in every level of government, are going to have to take some chances along the way, because we have fundamentally changed the economic structure of our nation. We cannot sit around and wait for the picture to improve. We are going to have to take proactive stances and government officials are going to have to find the inner strength needed to rediscover their roots as public servants.
If our government were a company, would you say it was well run? If you had a nest egg for retirement, would you let our current government take care of it? It is time that people start expecting our government to be run like a business. The government has a fiduciary responsibility to look out for everyones interests. Whether the government invests in a project or institutes a program, it is time to set some goals, assess the risks, implement the tasks in an efficient manner, and take care of the shareholders of the United States Treasury; which is supposed to be the Citizens of the United States.
Subscribe to:
Comments (Atom)