Bouncing Back: TE Is the Place to Be

Written by Nancy Pardue

There’s no denying the economy’s been tough. But whether you’re a newcomer or a native to Triangle East, here’s good news: You’re in the right place for economic recovery.

Experts say Triangle East has what it takes to bounce back better — and faster — than our state or nation.

“Our macro indicators show that our area was the last to enter the recession, and all indicators now predict we’ll be the first out,” said Lee Anne Nance, senior vice president of the Research Triangle Regional Partnership, a public-private organization that promotes economic competitiveness for a 13-county region of North Carolina, including Wake and Johnston.

Recovery begins with jobs — and they are on the way.

“In calendar year 2009, we announced more new businesses in investment dollars than ever before, a record $1.9 billion and 10,000 jobs (being created),” said RTRP President and CEO Charles Hayes.

Indeed, despite a painful net loss of 23,000 jobs between December 2008 and December 2009, the U.S. Bureau of Labor Statistics places the Triangle-area job market among the most stable in the nation.

The Tar Heel state has traditionally rebounded from recessions faster than the national economy, says economist Dr. Michael Walden, in his North Carolina Outlook Economic Winter 2009 report. He predicts a statewide drop in unemployment rates in late 2010 and 2011, with the Triangle among most resilient areas.

The “new” economy here, Hayes says, will be strong, but different. In the manufacturing sector, for example, jobs are in health and technology, not tobacco and textiles.

Bo Carson, RTRP vice president of research, said, “People say manufacturing is dead, but looking back to the ’80s and ’90s, we’ve seen consistent numbers of 90,000 to 100,000 manufacturing jobs in the region.”

National real estate firms studying Triangle East, he adds, offer possibilities for upcoming commercial and retail investments.

Peggy Anderson, economic development director for Johnston County, cites a well-trained work force among Johnston’s best assets, with many people trained in the area’s acclaimed community college system.

“We are busy here now in spite of the things happening with the economy,” Anderson said, with a number of active, but confidential, projects in the works. “My focus is to bring jobs and revenue to the county, and to work with existing industry — if a company plans expansion, we certainly want it to be here.”

That’s the case for Talecris Biotherapeutics, which has announced a $269 million, 259-job expansion to its Clayton plant.

Ken Atkins, executive director of Wake County Economic Development, believes shovel-ready sites, large undeveloped land tracts, and highways such as I-540 and U.S. 64 Bypass will also boost Triangle East’s economic future.

“The transportation linkages will especially help Knightdale, Wendell and Zebulon,” he said.

Even the impending ConAgra loss in Garner has a silver lining, Atkins says; the company will donate its site to the town upon closure.

“It presents solid and unique opportunities,” he said. “We’ll be working closely with Garner on how the property can be redeveloped to attract not only new jobs, but investment in the town.
“We’re seeing signs of activity in all of eastern Wake County,” Atkins said. “The whole area is coming out of recession, and will be among the first in the region to do so.”

Economic development is not all that draws people to Triangle East, an estimated 103 a day to Wake County alone. People like Wayne and Toni Gosnell of Maryland, who first came to visit family in Knightdale.

“We came for Christmas, and in the summer, and we liked the area and the weather,” Gosnell said. They also liked the proximity to shows and museums, and began researching specifics of Triangle East towns.

“We decided on Garner,” said Gosnell, a retired police officer, where they bought a brand-new home for less than the sale price of their Maryland home of 14 years. 

“We really like the parks here, and the people we meet are friendly,” Gosnell said. “I even checked on crime rates with the (former) police chief.”

Top-notch education and medical care, the promise of jobs, affordable housing and yes, even low crime rates — no matter what draws or keeps you here, Triangle East is a great place to call home. 

Did you know: 

Education

10: Clayton’s national ranking by BusinessWeek magazine, for affordable living with top schools; Clayton’s public schools scored 9.3 on a scale of 10

2010 School of Excellence: Title earned by Garner Magnet High School from Magnet Schools of America; East Garner Magnet Middle was named a School of Distinction

$75,000: Grant awarded to Wendell Police Department by Wake County ABC Board, for community alcohol awareness programs

Health
$144 million: Cost of Johnston Health expansion program, including Johnston Medical Center-Clayton, and five-story patient tower at Johnston Medical Center-Smithfield

870: Number of WakeMed beds at its facilities across Wake and Johnston counties; 60 new acute care beds are under development (www.wakemed.org)

6,79: Number of babies born at Rex Health in 2009

Jobs
259: Jobs to be created in expansion announced by Talecris Biotherapeutics, to its Clayton plant

$41,815: Average wage for new positions at Northeast Foods’ bakery operation in Clayton; the company is a key supplier of buns to McDonald’s (www.carolinanewswire.com)

No. 1: North Carolina’s ranking as Best State Business Climate (November 2009, Site Selection)

 Hey, moms and dads — check out our preschool directory to compare educational programs for your children, at www.triangleeastmagazine.com/preschools.