Knowing where you need to go starts with knowing where you are. That simple concept drove the latest project spearheaded by the Wilmington Chamber’s flagship initiative, Cape Fear Future. While the chamber is known for extolling the sterling qualities of our region – and rightly so since there are so many – we opted for producing a new objective report that delineates the Wilmington region’s standing in a breadth of economic indicators.
The 1st Annual Regional Economic Scorecard is intended to help business and community leaders and elected officials make decisions concerning factors that affect Wilmington’s economic health. The scorecard benchmarks the Wilmington region against peer regions using hard data to show where we excel and where we have challenges that need to be addressed.
During the severe recession that began in 2008, our region suffered major job losses. The recovery, which began mid-year of 2009, differed from previous recoveries, with job creation being especially weak. As we monitored those losses and the anemic recovery, we looked to other regions to learn how they measured their growth and development. Many regions produce scorecards to assess themselves without bias, and our Cape Fear Future board determined that is was time for our region to evaluate itself in the same fashion.
A task force of business and community leaders examined cities across the country to determine those that could be considered our peers … and our competition for jobs and skilled workers. They selected seven metro areas based on size and a diverse mix of economic assets comparable to our region:
Emma Dill - Nov 27, 2023
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