The Piedmont Triad Market

Transcription

1 The Piedmont Triad Market Mount Airy Eden Mayodan Madison Reidsville Yadkinville Winston-Salem Greensboro Burlington Thomasville High Point Lexington Asheboro The marketplace for real solutions, real results.

2 Defining the Triad Greensboro/ Winston-Salem/ High Point, NC Combined Statistical Area The Triad or Piedmont Triad describes the areas surrounding the three largest cities: Greensboro, Winston-Salem and High Point. The U.S. Census Bureau defines the region as ten different counties forming the Greensboro/ Winston- Salem/ High Point, NC Combined Statistical Area or three Metropolitan Statistical Areas and two Micropolitan Statistical Areas. Triad Quick Stats: Out of 124 CSAs nationwide, the Triad is the 32 nd largest in population. With a population of more than 1.5 million, the Triad is the third largest CSA in North Carolina (Charlotte is the largest and Raleigh is the second largest). Triad CSA Greensboro/High Point, NC Metro Winston-Salem, NC Metro Burlington, NC Metro Lexington/Thomasville, NC Micro Mount Airy, NC Micro U.S. Census Bureau Definitions: Micropolitan Statistical Areas: Cities of at least one urban group of at least 10,000 in population, but less than 50,000 Metropolitan Statistical Areas: At least one urban area of 50,000 or more in population Combined Statistical Areas (CSA): Are composed of metropolitan statistical areas and micropolitan statistical areas in various combinations. They are automatically designated for adjacent areas with an employment interchange of 25 percent or more. In adjacent areas with an employment interchange of at least 15 percent but less than 25 percent, designation of combined statistical areas is based on local opinion, as expressed through the Congressional delegations. Source: stats based on Census 2000 data

3 The Triad Area The Piedmont Triad is a dynamic market that is poised for tremendous growth. Contributing factors are its temperate climate, centralized location affording quick access to major metros, relatively low population density, high quality of life, high education index, diversity and inclusion, and the development of markets to leverage its manufacturing experience. The Greensboro/Winston-Salem/High Point Combined Statistical Area (CSA) is ranked 32nd in the nation and is the third largest CSA in North Carolina. CSA Total Population Total Households Median Disposible HH Income Annual Retail Expenditures Charlotte/Gastonia/Salisbury, NC/SC 1,897, ,329 $ 44,348 $ 21,777,359,828 Raleigh/Durham/Chapel Hill, NC 1,314, ,978 $ 46,960 $ 16,202,507,378 Greensboro/Winston-Salem/High Point, NC 1,283, ,490 $ 38,539 $ 13,233,209,287 Asheville/Brevard, NC 398, ,973 $ 37,474 $ 4,012,327,670 Lumberton/Laurinburg, NC 159,337 56,095 $ 27,437 $ 943,945,755 *Population based on 2000 Census data, all other based on 2010 estimates The Triad s location puts it in driving distance of half of Florida and the midsection of Ohio, and it lies within striking distance of New York City. There is no better site on the East Coast for overall cost of operations, availability of labor and access to other cities, says an adviser to four U.S. presidents. Boston Greensboro Drive Time (Hours) Mileage Raleigh, NC Charlotte, NC Asheville, NC Washington, DC Atlanta, GA New York, NY Greensboro s central location on the East Coast and in North Carolina positions it for more growth in the future. Miami Source: CSA ranking information and population data from household, income and expenditure data from News & Record;

4 Transportation Air Travel/Air Cargo Piedmont Triad International Airport (PTI) is serviced by 6 airlines, including Allegiant, United, Delta, Continental, US Airways, and American. PTI serves the entire Triad region with daily departures, including non-stop service to such key destinations as Atlanta, Cincinnati, Dallas, Miami, Philadelphia, Chicago, and Washington, DC. The FedEx Mid-Atlantic Hub opened at the airport in Rail Service Freight service is provided to nearly every county in the Triad via Norfolk Southern and CSX Railway. Passenger rail service is also available through Amtrak with stations located in Greensboro, Winston-Salem, High Point, and Burlington. Waterways The NC State Ports Authority operates a port facility in Greensboro to facilitate international trade. The Piedmont Triad Inland Terminal is one of two inland terminals in the state. NC also operates two deep water ports, creating a network for moving container cargo between the ports or other convenient east coast ports. Interstates and Highways One of the most sophisticated interstate highway networks in the country traverses the Piedmont Triad. Five interstates I-40, I-73, I-74, I-77 and I-85 intersect the region. Greensboro s mid-atlantic location is paramount to the city s role as an East Coast hub for logistics and transportation companies. Source: Discover the Triad;

5 Employment Labor Force The Piedmont Triad s labor force averaged 776,593 in 2010 with a 89.3% employment rate. Guilford County represents the largest portion of the workforce (31% of the total), followed by Forsyth (22%) and Davidson (10%). Forsyth County (90.5%), Yadkin County (90.3%), Stokes County (89.9%), Davie County (89.8%) and Randolph County (89.5%) index higher for employment rates than the Triad as a whole. Major Employers Top 10 Employers in Piedmont Triad 1. Wake Forest University Baptist Medial Center (Health Care) 11, Wal-Mart (Retail) 11, Guilford County Schools 10, Novant Health (Health Care) 8, Winston Salem/Forsyth County Schools 8, Moses Cone (Health Care) 7, Wachovia Corp. 3, Lab Corp. of America 3, Alamance Burlington Schools 3, Lowe s Home Improvement (Retail) 3,230 Large Corporations with headquarters or major locations in the Triad Sara Lee Corp (Headquarters) BB&T (Headquarters) Lincoln Financial Group Volvo Trucks of North America (Headquarters) FedEx Lorillard Corporation VF Corp. (Headquarters) Laboratory Corp. of America (Headquarters) RF Micro Devices CitiCards Call Center Triad Employment by Industry The Triad s economy is shifting from being manufacturing and textiles based to one that is service oriented. Service industries include: Healthcare & Social Assistance Food & Accommodations Professional & Technical Services Education Arts, Entertainment, and Recreation Information Administrative & Waste Sources: Labor Force information from NC Employment Security Commission, Jan- Sept 2010 Averages. Major Employers from listing of Major Employers from the Triad Business Journal Book of Lists Employment by Industry from piedmonttriadnc.com graphic, based on NC ESC Employment & Wage by Industry December 2009

6 Growth Commercial Currently being built is a 40-mile long urban loop highway around Greensboro. Also known as Painter Boulevard, the Urban Loop was designed to make getting from one side of town to the other easier. The loop is being built one section at a time. As of now, 25 miles are open. There are four parts that have yet to be completed. Construction will begin on a portion of the western loop in 2013 and on the eastern side of the loop in 2014; a construction date has not been set on the remaining two parts. Whole Foods Market, a natural and organic grocer, plans to open a store at Friendly Center in spring The company will lease about 34,000 square feet from Sears. Sears will remain in the rest of its location. Southeast Guilford County is growing area with a limited number of shopping options. Consequently, construction has begun on The Greene at Woody Mill. Featuring an estimated 250, ,000 square feet of rentable space, The Greene at Woody Mill will offer a diverse mix of restaurants and an array of retail, from services to boutiques. A large supermarket is also targeted as its anchor, giving The Greene daily destination appeal. The city has adopted a corridor plan to revitalize and enhance High Point Road and West Lee Street. Key recommendations in the [Phase 1] Plan are focused around reinvestment/land use, transportation, infrastructure and appearance, public safety, and implementation and will be designed around a series of villages linked to key drivers of activity 1.) University/Mixed Use Village, 2.) Sports, Recreation and Fitness Village and 3.) Hospitality Village. In November 2010, Tanger Outlet Center opened a location in Alamance County. Featuring 80 brand name and designer outlet stores, the center s location was chose for its position between the Triad and the Triangle. Residential In our core market of Guilford County, areas to the west and east of Greensboro are experiencing the most growth. To the west, Colfax continues to be the fastest growing area in the entire Triad. From 2000 to 2010, the area experienced a 55% boost in population. The regions to its north and south have also been high growth areas. North High Point, zip code 27265, increased 40% in population followed by Oak Ridge at 35% and Summerfield at 32%. To the northeast of Greensboro, the towns of Whitsett and Browns Summit have grown considerably. Since 2000, these areas have seen population gains of 50% and 42% respectively High Growth Areas Within Guilford County ROCKINGHAM GUILFORD FORSYTH ALAMA Source:

7 The People Guilford County boasts the largest population in the Combined Statistical Area (CSA), and the second highest median household income Estimated Demos Triad CSA Alamance Davidson Davie Forsyth Guilford Randolph Rockingham Stokes Surry Yadkin Population Total Population 1,587, , ,918 42, , , ,406 92,507 46,525 72,834 38,285 % Female 51.5% 51.7% 51.0% 50.8% 51.8% 51.8% 50.7% 51.7% 51.4% 51.1% 50.9% % Male 48.5% 48.4% 49.0% 49.2% 48.2% 48.2% 49.4% 48.3% 48.6% 48.9% 49.1% Median Age Income Average HHI $60,076 $54,794 $56,084 $69,445 $65,673 $65,162 $54,838 $48,689 $49,273 $50,938 $48,836 Median HHI $44,598 $43,647 $45,561 $50,299 $47,039 $47,097 $40,870 $39,413 $40,108 $37,810 $38,991 Per Capita Income $24,432 $22,505 $22,467 $26,383 $26,887 $26,957 $21,266 $20,372 $19,180 $20,308 $19,524 Households Total Households 631,490 61,363 63,742 15, , ,337 55,133 38,227 17,890 28,561 15,127 Average HH Size Race Caucasian 71.5% 67.2% 86.8% 90.1% 64.1% 60.5% 84.4% 74.7% 93.2% 91.5% 92.2% African American 19.6% 17.7% 8.5% 6.9% 24.8% 30.4% 6.2% 18.9% 4.8% 2.6% 3.5% American Indian/Alaska Native 0.3% 0.3% 0.3% 0.2% 0.3% 0.4% 0.2% 0.0% 0.2% 0.1% 0.2% Asian/Pacific Islander 1.9% 1.0% 1.0% 0.4% 1.5% 3.8% 1.0% 0.8% 0.3% 2.0% 0.2% Other 4.3% 9.4% 2.1% 1.4% 5.9% 2.6% 6.0% 3.7% 0.9% 2.9% 3.2% Two or More Races 2.4% 4.3% 1.4% 1.0% 3.3% 2.3% 2.4% 1.9% 0.6% 1.0% 0.8% Hispanic Ethnicity 8.3% 11.9% 6.2% 6.4% 11.2% 6.3% 10.9% 5.2% 2.3% 8.8% 9.2% Five year projections show increases in the CSA s population (+7%) and number of households (+7%). Both the median HH income and per capita income are also expected to grow 5%. Following national trends, the age of the population is also expected to increase (+3.%) Projected Demos Triad CSA Alamance Davidson Davie Forsyth Guilford Randolph Rockingham Stokes Surry Yadkin Population Total Population 1,702, , ,089 45, , , ,815 93,254 47,702 74,051 39,382 % Female 51.4% 51.5% 50.9% 51.0% 51.6% 51.7% 50.7% 51.6% 51.5% 51.0% 50.9% % Male 48.6% 48.5% 49.1% 49.0% 48.4% 48.4% 49.4% 48.4% 48.5% 49.0% 49.1% Median Age Income Average Household Income $63,023 $56,952 $59,602 $77,092 $68,911 $67,950 $56,850 $50,986 $50,092 $53,403 $50,262 Median Household Income $46,844 $45,561 $48,904 $54,620 $49,448 $49,201 $42,143 $41,307 $40,908 $39,577 $40,169 Per Capita Income $25,599 $23,367 $23,861 $28,902 $28,087 $28,119 $21,694 $21,791 $19,473 $21,315 $20,265 Households Total Households 677,246 67,903 67,363 16, , ,727 57,095 39,363 18,306 29,053 15,685 Average HH Size Race Caucasian 69.4% 63.1% 86.9% 89.9% 61.9% 58.5% 81.7% 73.0% 93.1% 91.6% 92.0% African American 19.6% 17.0% 7.9% 7.0% 24.2% 30.9% 6.4% 18.5% 4.8% 2.3% 3.5% American Indian/Alaska Native 0.3% 0.3% 0.2% 0.2% 0.3% 0.4% 0.1% 0.0% 0.2% 0.0% 0.1% Asian/Pacific Islander 2.3% 1.1% 1.1% 0.4% 1.8% 4.4% 1.2% 1.1% 0.3% 2.4% 0.2% Other 5.4% 12.4% 2.4% 1.6% 7.3% 3.2% 7.7% 5.1% 1.1% 2.8% 3.3% Two or More Races 3.0% % 1.4% 0.9% 4.4% 2.6% 2.9% 2.3% 0.5% 0.8% 0.8% Hispanic Ethnicity 10.1% 14.3% 7.7% 7.8% 13.7% 7.5% 13.6% 6.4% 2.6% 9.5% 10.8% Hispanic Population Much like North Carolina, the Triad is home to one of the fastest growing Hispanic populations in the country. From 2000 to 2010, the Triad s Hispanic population grew 90%. Guilford County alone also experienced a growth rate of 90% from 2000 to 2010, and currently has a Latino community of over 30,000. Source:

8 Education & Health Primary and Secondary Schools Guilford County Schools is the third largest school district in North Carolina and serves more than 71,000 students. The district currently has 67 elementary schools, 22 middle schools, 26 high schools, and 8 alternative schools. Colleges The Triad is home to over 20 colleges and universities offering a variety of educational opportunities. North Carolina A&T State University boasts over 10,500 students and features one of the top engineering schools anywhere. With an enrollment of 18,700, the University of North Carolina at Greensboro offers an especially strong curriculum in education and the arts. UNCG and NC A&T have joined efforts to build the Gateway University Research Park, home to research and develop for both universities. The research park is made up of two campuses and is expected to help develop economic growth for the area. In Winston-Salem, The North Carolina School of Arts attracts top students in the visual and performing arts, and Wake Forest University provides a strong liberal arts curriculum and is the site of Wake Forest University School of Medicine. Strayer University caters to working adults and strives to make earning a degree as convenient as possible. In the fall of 2006, Elon University opened the state s sixth law school located in downtown Greensboro and plans to expand its campus. The Triad s ideal location in North Carolina enables residents to benefit from other highly regarded institutions in the state. The following universities are only an 1.5 hour drive from the Triad: Duke University, the University of North Carolina at Chapel Hill, the University of North Carolina at Charlotte, and North Carolina State University. Health Two hospital systems serve the Guilford County area - Moses Cone Health System and High Point Regional Health System. Moses Cone Health System, a multi-hospital system, is the area s primary source for healthcare and includes Moses Cone Memorial Hospital, Women s Hospital of Greensboro, Wesley Long Community Hospital, and Moses Cone Behavioral Health Center. Winston-Salem is home to the state of the art Wake Forest Baptist Health which includes the Wake Forest School of Medicine and Wake Forest Baptist Medical Center. Source: Discover the Triad;

9 Culture & Entertainment The Arts and Museums A number of festivals take place right here in the Triad. In the summer, Guilford College hosts the Eastern Music Festival, drawing workshop participants and instructors from all over the country. The North Carolina Shakespeare Festival also draws huge regional audiences for its top-notch performances. Performing arts venues in the area include the Greensboro Symphony Orchestra, the Greensboro Ballet, Triad Stage, the Carolina Theater, and The Barn Dinner Theater, the oldest dinner theater in the country. Many museums also call the Triad home. Two of Guilford County s most popular museums reside at the University of North Carolina at Greensboro and North Carolina A&T State University. University Galleries, located at NC A&T, holds a rich collection of African and African American art and artifacts. Weatherspoon Art Museum, located at UNCG, houses one of the finest collections of modern and contemporary American art in the Southeastern United States. Also, visitors of the Greensboro Historical Museum can view artifacts from the rich history of the Triad area. Historical Sites As the site of the original sit-in movement that was a major component of the civil rights movement of the early 1960s, the old Woolworth s Department store in downtown Greensboro is a living monument to civil rights everywhere. On February 1, 2010, The International Civil Rights Center & Museum opened as a memorial for the courageous acts of four Greensboro men. The Guilford Courthouse National Military Park in Greensboro was the site of a pivotal Revolutionary War battle. In addition to its historic monuments, the park offers hiking and biking trails and picnic facilities. Old Salem in Winston-Salem takes visitors back in time to the Moravian culture of the 18th century. Christmas candlelight tours and other special events at this carefully restored village are popular with local residents, as well as tourists. Science and Nature The Natural Science Center of Greensboro is a planetarium, zoo, museum, and a favorite among all age groups. One of the Triad largest draws is located in Asheboro - the North Carolina Zoological Park. This state-of-the-art park is considered one of the nation's most progressive zoos, covering over 500 acres with more than five miles of pathways. Approximately 1,000 hundred animals reside in expansive, unconfined habitats similar to their native environments. Source:

10 Sports & Recreation Greensboro has been named Tournament Town because of its rich tradition of hosting professional, collegiate, and amateur sporting events, as well as the fact that it s the home of the Atlantic Coast Conference (ACC). Golf Greensboro is host to the Wyndham Championship, an annual week-long, top PGA Tour event that is held at Sedgefield County Club. This year s tournament will be held August Ice Skating January marks the first time the 2011 US National Figure Skating Championships took place in North Carolina. Held at Greensboro s Coliseum Complex, attendance for the nine-day event totaled 110,787 people. Baseball Thousands of fans enjoy Greensboro s first-class minor league baseball stadium in the heart of downtown. NewBridge Bank Park is home to the Greensboro Grasshoppers, a Class A farm team for the Florida Marlins. The Grasshoppers welcomed nearly 380,000 guests to the ballpark during the 2010 season. Basketball Greensboro hosted the 34 th Annual Women s ACC Basketball Tournament March 3-6. This marked the 12 th consecutive year the event has been held at the Greensboro Coliseum. The Coliseum also hosted the 58 th Annual Men s ACC Basketball Tournament March This marked the 23 rd time the Coliseum has hosted the event, more than any other venue. The men s tournament will return to Greensboro in 2013, 2014 and Soccer Greensboro is known nationally as one of a handful of soccer capitals with world-class facilities, organizations and players. A great deal of this status can be attributed to the Greensboro Youth Soccer Association (GYSA), and the Carolina Dynamo, a member of the United Soccer League (USL) and the Premier Development League (PDL). Neighboring Sports Attractions The ideal location of the Triad offers residents the opportunity to enjoy nearby sporting events. Just a short drive away, Charlotte is home to two major professional sports franchises: the Charlotte Bobcats of the NBA and the NFL s Carolina Panthers. The Triangle hosts some of the best ACC sports action with the Carolina Tarheels at UNC-Chapel Hill, the Duke Blue Devils in Durham, and the NC State Wolfpack in Raleigh. Raleigh is also home to the National Hockey League s Carolina Hurricanes. The Concord/Charlotte area also hosts NASCAR races at Lowe s Motor Speedway. Outdoor Recreation The temperate climate of the Piedmont Triad makes outdoor recreation a major pastime for area residents. Several local lakes provide ample opportunity for boating, fishing, sailing, and swimming. Thousands of acres of beautiful woodland comprise the scenic beauty of the Piedmont Triad s city and state parks network. Also located in Greensboro is Wet N Wild Emerald Pointe, the largest water park in both the Carolinas with over 36 rides and attractions. Source:

11 The News & Record As part of the community for more than 100 years, the News & Record is dedicated to serving readers and the business community with the most comprehensive package of news and advertising products available anywhere. In addition to our regular news package, we offer numerous themed and targeted lifestyle products throughout the year, as well as multiple zoned editions. Additionally, we provide extensive Internet solutions to help companies grow their business. With these print and online products, consumers get the breadth and depth of coverage necessary to keep them engaged about their community. And, for businesses, these are effective and affordable options to reach their target markets to achieve sales and growth objectives. (To learn about the various options for reaching this attractive market, please visit the media kit section of our advertising website to access our product guide and rate cards: Readership in the Piedmont Triad Readership Daily 162,845 Sunday 244,259 To learn more about the Piedmont Triad market, access our other dynamic Internet sites: and Source: Scarborough Research, March 2011