Asheville Region WESTERN NORTH CAROLINA EconomicDevelopmentAsheville.org As a dynamic urban center located in the fast-growing Southeast, Asheville provides the talent, economic value, quality of life, and convenient access rarely found in one city. The Asheville Metropolitan Statistical Area is a $17B economy that encompasses Buncombe, Haywood, Henderson, and Madison Counties. KEY ECONOMIC DRIVERS Steady Population Growth Healthcare Manufacturing Tourism Asheville MSA Population: 452,139 Jobs: 194,500 Jobs Growth 2010-2017:15.4% Unemployment Rate (2017 average): 3.7% Focus Report from the 24% Fast Growing Industry: Professional, Scientific, and Technical Services (2010-2017) 60 Mile Radius Reaches 39 Counties 60 Mile Radius Population: 3,331,182 Jobs: 1,332,000 Jobs Growth 2011-2016: 11% Estimated Unemployed: 72.4K 3% 3% 2% 1% 18% 4% 4% 20% 10% 11% 6% 14% 14% 15% DIVERSE EMPLOYMENT DISTRIBUTION Education & Health Services 19.9% Leisure & Hospitality 14.5% Retail Trade 13.7% Government 13.5% Manufacturing 10.5% Professional & Business Services 10.1% Construction 4.3% Other 4.1% Financial Activities 3.2% Transportation & Utilities 2.8% Wholesale Trade 2.4% Information 0.9%
Talented POPULATION AGE 25+ WITH ASSOCIATES DEGREE OR HIGHER 54% Asheville City 41% Asheville MSA 32% 60 Mile Radius 39% Nation Asheville MSA Enrollment: 18.6K Completions: 4.4K (Certificates and Degrees, 2015) UNIVERSITY HIGHLIGHTS (not a complete list) University of North Carolina at Asheville Western Carolina University (Biltmore Town Square) Asheville-Buncombe Technical Community College Mars Hill University Warren Wilson College Montreat College University Facts 60 Mile Radius Enrollment: 184K Completions: 44K (Certificates and Degrees, 2015) UNIVERSITY HIGHLIGHTS (not a complete list) Western Carolina University Clemson University Appalachian State University East Tennessee State University Furman University FAST GROWING DEMOGRAPHIC 20-34 year olds grew 17% in Asheville city 2010-2016. 17% Asheville City In 2016, there were estimated to be over 142K completions at schools in North Carolina. North Carolina is also home to such notable universities as Duke University, Davidson College, Wake Forest University, UNC Chapel Hill and North Carolina State University. Photos courtesy of White Labs. Like San Diego and Boulder, Asheville serves as an innovation center, and we couldn t be more excited to join the Asheville community. Asheville is the first step of our global expansion plan that is strategically being rolled out in waves over the next few years. Chris White Founder and CEO, White Labs White Labs New Jobs: 65 Capital Investment: $8.1M Industry: Divisional Headquarters and Biotechnology Location Drivers: Supportive Educational Institutions, Talent Availability, Cost of Doing Business and Distribution Logistics 2
The North Carolina Community College System delivers the training and talent you need, when you need it. Asheville ranked #3 out of 18 for the World s Best Cities for Millennials. Matadornetwork.com, May 2016 Craft Beverage Institute of the Southeast was created by AB Tech in response to the growing brewery industry in the Asheville Metro (502% since 2011). Composites Training Center of Excellence is a customized program AB Tech and GE Aviation created that trains current and prospective GE Aviation employees with state-of-the-art machinery. The program is an outgrowth of GE Aviation s expansion in Buncombe County and the composite material is currently only manufactured in Asheville. WCU s Business Administration program (MBA) is named among Princeton Review s best schools to earn an MBA. WCU offers 10 masters programs at the Biltmore Park instructional site in Asheville. #1 in the Nation UNC Chapel Hill Eshelman School of Pharmacy expanded its pharmacy program to UNC Asheville in partnership with Mission Health System. UNC Chapel Hill was ranked #1 of the 50 best pharmacy schools in 2016 by US News & World Report. UNC Asheville is a nationally ranked public liberal arts college, part of the UNC school system, with strong science and math programs. Mission Health is the largest employer in western North Carolina and is currently expanding with the new $400M Mission Hospital Tower project. Expanding Advanced Engineering and Technical Skills A Bachelor of Science degree in Engineering is offered at Western Carolina University s Biltmore Town Square instructional site in Asheville. The 2+2 Engineering program is offered jointly by North Carolina State University and UNC Asheville with disciplines that include Computer Engineering, Mechanical Engineering, Environmental Engineering and more. Two years are completed at UNCA and two years at NCSU. UNCA and NCSU also jointly offer Mechatronics Engineering. All years may be completed in Asheville. They have one of only two Mechatronics programs in the U.S. That s why I chose UNC Asheville. Beyond engineering and math, Mechatronics at UNC Asheville opens your mind to so much more, like history and philosophy. It s awesome! Gus Tabaileh UNC Asheville Class of 2014 Linamar employee Photo courtesy of Capital at Play. 3
Competitive As an INC-500 employer tackling some of the most pressing issues in global health our success requires access to talent, a competitive cost of doing business, and local partnerships that can scale as quickly as we do. For us, the only choice was Buncombe County. At 3%, North Carolina currently has the lowest corporate income tax rate in the Southeast. The corporate income tax rate will fall to 2.5% in 2019. It is one of the lowest tax rates of any state levying a corporate income tax. PROPERTY TAX RATE Buncombe County Per $100 assessed valuation, 2015: 0.604 (Additional rates may apply depending on location and district.) Steve Woody Chairman and CEO, Avadim Technologies #3 Lowest State and Local Business Tax Burden Ernst & Young 2015 #5 Competitive Utility Rates Area Development s Top States for Doing Business 2015 North Carolina is a right-to-work state with an average of 3% union membership rate. This is the 2nd lowest union membership rate of the states and District of Columbia. 97.5 Cost of Living Index for Asheville Region 100 = average $39,762 Average Annual Wage in Asheville Metro (2017) Rendering courtesy of Avadim Technologies. Avadim Technologies New Jobs: 551 Capital Investment: $25.4M Industry: Headquarters and Life Sciences Location Drivers: Supportive Educational Institutions, Talent Availability, Cost of Doing Business and Thriving Biotech Sector Business Costs 2016 State Statistic North Carolina 2013 Average Industrial Electric Cost 6.45 cents/kilowatt hr 2014 Average Industrial Natural Gas Cost $7.55 /1000 cu ft 2015 Union Membership 3% of employment 2014 Workman s Comp Rate $1.85 per $100 payroll 2015 Q3 Unemployment Insurance Annual Cost $330.01 per worker AAA Rating Buncombe County and City of Asheville have attained Standard & Poor s AAA Bond Rating (general obligation). Moody s assigned a positive outlook to Buncombe County, pointing to ongoing growth and diversification in the tax base and local economy. PROVIDERS Water: City of Asheville Water Resources Department Electric: Duke Energy Natural Gas: PSNC Energy Sewer and Wastewater: Buncombe County MSD Broadband: connectivity is offered via copper wire, fiber optic cable, wireless, and satellite. Connectivity can be offered in increments up to 10 Gbps (more if needed, at a commercial cost). 4 ECONOMIC DEVELOPMENT COALITION for Asheville-Buncombe County
Asheville ranked #2 Best Startup City in America. Popular Mechanics, January 2015 Investing in the Future EDC 2010 - May 2018 (new and expansion) 48 Company Announcements 3,782 New Jobs $1.2B Capital Investment Incentives Qualified prospects may be eligible for one of the state and local incentive packages including tax exemption opportunities, performance-based cash grants, and funding for renovation and up-fitting. Available Incentive Examples (not a comprehensive list and subject to change) Job Develoment Investment Grant (JDIG) One North Carolina Fund Community Development Block Grant (Economic Development and Building Reuse) Workforce Development and Customized Training Tax Exemptions NC Biotechnology Center Venture Asheville Catalyzing the entreprenuership ecosystem 25 STARTUPS CURRENTLY IN PROGRAM 40 ACCREDITED INVESTORS 55 EXPERIENCED BUSINESS MENTORS Major Employers In addition to government, education and health services, major employers with more than 500 employees in the 4-county metro include: The Biltmore Company Omni Grove Park Inn Eaton Corporation Blue Ridge Paper Products Thermo-Fisher Scientific Borgwarner Turbo Systems Wilsonart LLC Continental Automotive Systems Inc. Ingles Markets, a Fortune 1000 Company GE Lighting Systems Guthy Renker MB Haynes (Division Offices) Buncombe County is committed to the success of our employers. We will do what it takes. Janice Brumit Asheville-EDC Board Chair Photo courtesy of Biltmore Park Town Square. BILTMORE PARK TOWN SQUARE Class-A office space 42 acres, mixed use Additional 1,100 acres available 5
Connected In 2016, Southern Business & Development ranked Asheville as one of the best midmarkets in the South to relocate your headquarters. We are excited about the opportunity for Asheville to become the manufacturing center for the groundbreaking technology. It s a tremendous vote of confidence in our local workforce and demonstrates the great potential for our area to be integrally involved in the new technology. Michael Meguiar Asheville Plant Leader, GE AVIATION GE AVIATION New and Retained Jobs: 550 Capital Investment: $231M Expansions: 2013, 2018 Industry: Advanced Materials and Aerospace Manufacturing Location Drivers: Cost of Doing Business, Talent Availability, Distribution Logistics and Destination Amenities. 6 Photo courtesy of GE Aviation.
Interstates and Highways I-26, I-40, I-240 U.S. 19/23, 25, 70, 74 I-81 and I-85 via I-26 Rail Norfolk Southern Railroad Corporation 21 minutes Mean travel time to work Asheville Metro Denver Chicago Detroit New York City Newark Philadelphia Baltimore Washington D.C. 81 Asheville 40 Greenville Charlotte Port Greer Atlanta 85 26 Port Charleston Dallas-Fort Worth AIR All Major Carriers Asheville (AVL) Direct Flights Houston Tampa/St. Petersburg Fort Myers Orlando Fort Lauderdale Miami Greenville-Spartanburg (GSP) Direct Flights Port Access Inland Port Greer directly extends the Port of Charleston s reach 212 miles inland. The port is 65 miles from Asheville. Logistical accessibility includes about 1 hour via interstate/ highway, as well as Norfolk Southern Railroad. Asheville A 2013 study Regional by Airport is the second fastest MIT found growing that hub airport Asheville in the was country. the bestconnected non-hub - source: diio DOT 2017 airport in the country.
From the deep sense of community to the rich natural environment and a vibrant downtown, Asheville has everything we ve been looking for to locate our second brewery. Kim Jordan Co-Founder, New Belgium Brewing Photos courtesy of New Belgium Brewing. New Belgium Brewing New Jobs: 156 Capital Investment: $175M Industry: Craft Beverage Manufacturing Location Drivers: Talent Availability, Distribution Logistics, Community Culture and Regional Sustainability Practices Please contact us: Ben Teague Executive Director 828-258-6130 BTeague@ashevillechamber.org Clark Duncan VP of Economic Development 828-258-6134 CDuncan@ashevillechamber.org Report data as of October 2016. The Economic Development Coalition (EDC) for Asheville-Buncombe County is a public-private partnership committed to creating and retaining high quality jobs, community leadership, and being a resource for better business decisions. The EDC accomplishes this mission through its four core services: business retention and expansion, small business and entrepreneurship, research, and marketing and recruitment. EconomicDevelopmentAsheville.org vimeo.com/edcasheville 36 Montford Avenue, Asheville, NC 28801 Phone: 828.258.6130 Fax: 828.251.0926