News
Greensboro Economic Development Alliance Announces
Five-Year Results at Investor Breakfast
March 3, 2009 (Greensboro, NC) - Greensboro Economic Development Alliance (GEDA) announced today that the organization had leveraged the creation of of 6,300 new jobs and over $819 million in new capital investment from 2004-2008. These achievements exceeded all five-year goals set for the organization.
There are seven primary metrics established in 2004 used to measure GEDA’s progress over the last five years. These metrics include new primary jobs created, new secondary jobs, new capital investment leveraged, new payroll additions, personal consumption expenditures, deposit potential with local banks, and GEDA’s relationship building efforts with local companies. Notably, GEDA achieved 105% of the primary job creation goal by leveraging 6,307 jobs and 107% of the goal for new capital investment by exceeding $819 million dollars.
The results were announced at the GEDA investor breakfast at the O.Henry Hotel. “We are very pleased with these results,” commented GEDA Chairman, Chuck Cornelio. “It has been an amazing journey as Greensboro and Guilford County began the transition from a basic manufacturing economy in the early part of the decade to one that is driven by knowledge-based, highly skilled jobs. We feel that the strength of these results speaks to our resolve to improve the economy and quality of life in Greensboro even though we face a very uncertain global economic climate currently.”
“The results from the Forward Greensboro III Campaign are impressive. With a 96% collection rate as well as job creation and capital investment rates that exceed 100%, there are few economic development organizations that achieve this kind of success,” commented Jeffrey A. Finkle, President & CEO of the International Economic Development Council.
During the Forward Greensboro III Five-Year Campaign, Greensboro benefitted from new investment by companies such as Citi, TIMCO Aviation Services, Volvo Trucks North America, Procter & Gamble, RFMD, High Performance Coatings, Legacy Paddlesports, Honda Aircraft Company, Lenovo, Tyco Electronics, Ecolab, ZINK Imaging, O’Reilly Automotive, FedEx Ground, Precor, and Mack Trucks. “The caliber of companies that are choosing to grow in Greensboro is an indication of how much this community has to offer,” commented GEDA President, Dan Lynch. “Greensboro has become increasingly more competitive on economic development projects in part, because of the strength of our colleges and universities, young, well-educated workforce, and diverse industrial base. Greensboro is also attractive because of the quality of life that residents enjoy here and the can-do attitude our community has, even in the face of the current economic slowdown.”
A member of the Greensboro Partnership, Greensboro Economic Development Alliance’s mission is to facilitate the creation of high quality jobs, attract new capital investment, retain and expand existing businesses, improve per capita income and generally improve the quality of life in Greensboro and Guilford County.
Contact:
Dan Lynch, President
Greensboro Economic Development Alliance
336-387-8310
dlynch@greensboro.org