Follow Scott Linkedin Twitter Facebook
Email Scott Email
Economic Development
Aug 15, 2016

Elevating The Brand Value Of Our Region

Sponsored Content provided by Scott Johnson - Chairman, Cape Fear Economic Development Council (CFEDC)

The right type of business or industry and its location are central to attracting workforce talent, customers and capital. So what are the drivers that attract businesses, residents and visitors to the Cape Fear region, and how do we preserve and improve them for the future?

The 2014 economic development report, Pathways to Prosperity, commissioned by New Hanover County and the City of Wilmington states that: “In the Wilmington region, the competitive strategic advantages include: a) coastal location, b) historic downtown, c) recreation diversity, d) a university, e) generally good weather, f) importance of the existent tourism/secondary home market, and f) existing diversity of local economy.”
 
A 2012 UNC Wilmington study provides additional insights into our region’s economy.(1) It compares the region's existing industries. It found that high-tech. clean industries have more positive economic benefits than low-tech, polluting industries. These benefits included significantly greater economic value-added commerce, indirect positive impacts on the economy and employment, positive impacts on non-economic social activities related to education and charities, and inducement for the attraction of other firms into the region, such as high-tech firms, service-based businesses, and financial sector enterprises.

The report concluded that the high concentration of clean industries in southeastern North Carolina clearly demonstrates the potential for building an economy on travel and leisure, or attracting industries that incorporate significant "quality of life" components in their location and expansion decisions. It found that the vast majority of such beneficial economic stimulus comes from the abundant, but fragile natural resources found in the region.

Tourism and visitors to the region represent a strong economic driver for the area. According to The U.S. Travel Association’s Economic Impact of Travel on North Carolina Counties, domestic tourism in New Hanover County generated an economic impact of $477.68 million in 2013. The county ranked eighth in travel impact among the 100 counties in North Carolina. More than 5,460 jobs in New Hanover County were directly attributable to travel and tourism, generating a $105.41 million payroll. State and local tax revenues from travel to New Hanover County amounted to $41.84 million. 

Offering economic incentives to industries that preserve the region’s attributes is one way to attract them to the area. The Industrial Special Use Permit (SUP) is a highly effective land-use zoning tool that allows local leaders and the public an opportunity to fully vet potential industrial neighbors, and approve those that align with our shared regional vision and goals toward increased prosperity. A good industry can elevate New Hanover County’s brand value locally and nationally, resulting in an increase in short-term and long-term job opportunities. A harmful industry can potentially drive away future businesses, residents and visitors, and stall career and job growth. Now is the time to embrace those choices and tools in our toolbox, like the SUP, creating the economic future that perpetuates the lifestyle we cherish for our great community.

(1.) The Impact of Cement Manufacturing on Economic Growth in the Cape Fear Region

The CFEDC brings together industry, community leaders, and the public to foster collaboration, transparency, inspiration and alignment around a shared regional vision. To learn more about the Cape Fear Economic Development Council or become a member, go to www.capefearedc.org or call (910) 471-1616.

Cfedc 16june blk
Ico insights

INSIGHTS

SPONSORS' CONTENT
Jasonpathfinder3

Get Rich Quick? Think Again.

Jason Wheeler - Pathfinder Wealth Consulting
Headshot2 3182020512

Save On Cooling/Heating With Dual Zone HVAC Systems

Chris Jones - Green Dot Heating & Air
Michaelhiggins 41019104338

You’ve Lost A Loved One - What Now?

Michael Higgins - Dignity Memorial

Trending News

PAG Recommends Negotiating NHRMC Sale With Novant

Vicky Janowski - Jul 2, 2020

COVID-19 Prompts TekMountain Shift To Virtual Model For Startups

Johanna Cano - Jul 1, 2020

Local Leaders Show Support For Boosting Businesses Owned By Minorities, Women

Jenny Callison - Jul 1, 2020

In The New Fiscal Year, ILM Budgets For COVID Impacts

Christina Haley O'Neal - Jul 2, 2020

BIZTALK: Questions, Concerns On Potential NHRMC Sale

Vicky Janowski - Jul 2, 2020

In The Current Issue

Prompted To Make A Move

For some would-be home­buyers, particularly in large Northeastern cities in the U.S, the coronavirus pandemic helped them make up their mind...


What's Next For Next Glass

Next Glass CEO Trace Smith talks about his goals as the new CEO, how the company has been doing during the COVID-19 pandemic, the company’s...


A New Way Of Work

Daily temperature checks and health screenings have become a regular part of the job for many employees heading back into the workplace....

Book On Business

The 2020 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2020 Leadership Accelerator: Virtual Workshops for Real Leaders
2019 Health Care Heroes
August 26, 2019 Power Breakfast: A Healthy Sale?
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`