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1/3/2010 |
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Rocky Mount Outperforms NC Metros |
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Local Economic Indicators in Our Community Performing Above Major Metros in Our State
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Over the past ten years our chamber, through Office of Business Recruitment, has been monitoring and reporting two important local economic indicators that measure the strength of our retail community. Retail sales are measured and taken from the N.C. Department of Revenue on a monthly basis. Our Shopping Center survey, measuring three million square feet of space is surveyed semi-annually and provides occupancy rates in the retail sector.
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These numbers are true indicators that enable us to attract new business and to accurately demonstrate to inside and outside investment the ability to grow and why Rocky Mount continues to be strong long term investment. . The State of North Carolina finished first three quarters of 2009 down 4.7%, Raleigh down 8.0 % and Charlotte down 10.0 %. Rocky Mount MSA sales revenues for same period declined 6.1 % while occupancy rate for 2009 measures 92.3 %.
Retail sales demonstrate that Rocky Mount, representing 67% of all businesses in our Nash & Edgecombe MSA, encourages consumers to spend their dollars in our local market. On a regional and broader look our two county MSA is also demonstrating their ability to grow with new businesses such as Lowes in Tarboro, the new Walmart in Nashville and Sams Club in Rocky Mount. Rocky Mount also host 15 of the top 25 retailers in the US with 6 of the top twenty not looking at expansion in the state of NC.
Our market, for the benefit of recruitment, has been defined in two ways: the Rocky Mount MSA and our broader market defined as our Five County Region composed of Nash, Edgecombe, Halifax, Wilson and North Hampton counties. The broader market has a population base of 300,000 and is the base from which 85% of our consumers are reached.
Revenues are generated from our hospitality industry with new growth in Hotels and over 35 million invested in new construction and improvements during 2009 within our community. The economic impact generated by the hotels exceeds 218 million per year and grew at + 12 % 1998 vs. 1997, the second fastest growth rate in the state.
For more information, contact:
Alan Matthews
Director of Business Recruitment
Rocky Mount Area Chamber of Commerce
amatthews@rockymountchamber.org
(252) 973-1213
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