Bob Heuts , Director
Lee County Economic Development Corporation
Southern Base of the Research Triangle Region
Phone: (919) 774-8439
FOR IMMEDIATE RELEASE:
December 8, 2004
Health of Lee County: Better News in 2004
SANFORD, NC - After two economic officials sifted through a mixed review of the Lee County's economic health one year ago, they appeared relieved to share more positive news during an annual assessment offered yesterday.
With Lee County enjoying a steady recovery and making progress on important issues, Bob Heuts and Charles Hayes quickly flipped through dozens of slides, explaining data and trends that combined to provide a snapshot of the county's economic health.
Good news started with the economy, which has rebounded strongly in the last year.
Heuts, director of the Lee County Economic Development Corp., said the local unemployment rate, which stood at 8.1 percent two years ago, has tumbled steadily to 4.6 percent in October. But that wasn't all: Rising retail sales, up more than $56 million last year, and a higher per capita income, he said, also signal good times to come.
About 120 people attending the Committee of 100's second annual luncheon heard several other encouraging trends.
Lower crime, for one. There's been no shortage of local debate about law and order since the 2002 crime rate was posted at 7,201 incidents per 100,000 inhabitants, far more than the Research Triangle region as a whole. Adding fuel to the fire were some violent, highly-publicized cases.
But the latest crime rate 6,289 -- still higher than the Research Triangle region as a whole, but significantly better than before.
Hayes, president and chief executive officer of the Research Triangle Regional Partnership, urged community leaders to continue working on the problem. It's important, he said, because corporate executives look at the crime rate when deciding where to build new facilities.
Some other encouraging news:
- The community is making progress in education, with scores on the Scholastic
Aptitude Test continuing to climb - the average has risen to 1,009 from 967 two
years ago - and Southern Lee High School nearing completion. Education is
critical for economic success, Heuts said, because the entire region is moving
toward a knowledge-based service economy. Without higher educational levels,
local residents will not be able to compete successfully in the marketplace.
- The county has enjoyed a net job growth for the last two years - ending
last year with 431 more jobs than in 2002 and posting a gain of 907
from January through October of this year.
- Sanford was ranked 48th among 573 mid-sized communities in a recent
assessment of economic strength by Policom Corp., an economic research
firm based in Florida (http://www.policom.com/ranknum.htm).
There was one note of caution: An unexpectedly early decline in local manufacturing. Figures published by the North Carolina Employment Security Commission showed the proportion of county residents working in manufacturing slipping from 40 to 35 percent from the first quarter of 2002 to the same period in 2003.
A similar trend was felt throughout the Research Triangle region, where manufacturing employment tumbled from 15 to 10 percent.
Heuts still believes the county still has a future in industry. "Despite the fact that manufacturing is on the decline, there are still very good reasons to chase manufacturing," he said. "We will continue to have manufacturing here in the United States, regardless of what's being said."
The luncheon meeting at Chef Paul's Cafe began with remarks by Committee of 100 president John Daniel, who welcomed special guests. Lee County Industrial Manager's Association president Bill Manning made brief remarks about the association and State Rep. John Sauls, R-Sanford, gave the invocation after asking for a moment of silence in memory of those who perished at Pearl Harbor and served the country throughout its history.
A summary of the "Health of Lee County" presentation has been published by the Lee County Economic Development Corp. and is available on its media web site (http://www.lcedc.com/media/). Scroll down to the heading for "local economic reports," where both the 2003 and 2004 editions can be downloaded free of charge.
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