Economic Development Keeps Our Pipeline Full Despite COVID-19
Just a few months ago, Cabarrus County’s unemployment rate was at an all-time low. Our citizens were thriving in their jobs and businesses were growing. Today, thanks to a global pandemic that few saw coming, our nation and our local economy are reeling. The unemployment rate now tells a very different story—one that leaves our citizens out of work and concerned about the future. It’s an uncertain time to say the least.
What people may not realize is that the Cabarrus Economic Development Corporation (EDC) remains just as busy as ever, continuing to field inquiries from industry-leading corporations that are interested in our area. In fact, many of the new business ventures that began before COVID-19 never stalled and are continuing while additional opportunities are also being added to the pipeline every day.
On April 14, in the midst of social distancing and widespread business closures, the Cabarrus EDC announced that one of the world’s leading residential cabinet makers, GoldenHome International, will be locating its North American headquarters in Concord, NC. This new addition to The Grounds at Concord will supply 257 jobs with an average salary of $42,593 per year over the course of the next five years. Thanks to a year’s worth of hard work and dedication to the improvement of our community, high quality jobs are coming to Cabarrus County at a time when we need them most. Better yet, this announcement was just one of several made in recent months—all of which come with the guarantee of ready-to-fill, full-time jobs, benefits included.
“Regarding new business activity over the past 8 weeks, activity is still very strong,” says Samantha Grass, Recruitment Project Manager. “We were able to announce GoldenHome International in April and are actively working with three companies that will be making a location decision in the coming weeks. There are three additional projects as well that are very active that we are assisting on a weekly basis as they evaluate possible locations in Cabarrus County. Those projects were of course in the pipeline before the COVID-19 pandemic began in the US.”
To put it simply, when one door closes…the Cabarrus EDC opens another one, ensuring that there are always ample opportunities for Cabarrus County citizens to grow and thrive economically. A bright future, filled with brand-new jobs and corporate investments in the community, wouldn’t be possible without a diligent economic development effort. As a community, we may tend to think that we have too much growth, but the last few months have shown us how quickly our business climate can change.
Now, if you don’t understand exactly how economic development works, don’t worry. You’re far from alone. But here’s the thing, you don’t need to know every in and out of an entire industry to understand how it affects you. If this pandemic has shown us anything, it’s that communities come together and support each other in times of need. You look out for your neighbor, and they do the same. That is economic development—not just in times of need but at all times, in every circumstance, always. The Cabarrus EDC is constantly working to improve opportunities in Cabarrus County, and it’s that constant effort that will see us through these big hits to our economy.
There’s no denying that jobs have been lost and businesses have had major setbacks. Many will recover, but some may not. It’s an unfortunate, painful reality for too many citizens in our great county. And it is why Cabarrus County is always actively recruiting new businesses to our area and supporting existing businesses who want to expand.
As our citizens continue to navigate the next few months, the Cabarrus EDC will continue to market our community to those businesses looking for that perfect location to build and thrive. New jobs will continue to come, in manufacturing and tech industries alike, thanks to the ongoing efforts of the Cabarrus EDC.