Rowan County’s Economic Plan
Competition for jobs in today’s market is highly competitive, and attracting jobs and investment to a community no longer just happens. It takes an aggressive economic development plan that is fully implemented. More importantly, it takes leadership and a community that supports the plan in every way possible. The Rowan Economic Development Council (EDC), along with the Board of Commissioners and other elected officials, has taken the lead and renewed the emphasis on economic growth. To set the trajectory, the Rowan EDC launched its new economic development plan, Forward Rowan, at the beginning of 2020.
Forward Rowan provides greater emphasis on the needs of our existing businesses who form the core of our economy today. It prioritizes the availability of skilled labor as the key to growing our economy. The plan also puts a priority on readiness – having sites, infrastructure, and incentives in place to compete effectively with other communities for investment.
The Forward Rowan initiative aspires to:
- Assure an environment that offers businesses the opportunity for profit and expansion.
- Deepen the understanding of our existing businesses, their needs, and market opportunities.
- Champion regional collaboration that supports additional investment opportunities.
- Recruit targeted businesses that provide quality employment and increased per capita income.
- Stimulate and support the success of small businesses and entrepreneurial activity.
- Improve the delivery of professional, personalized assistance to existing businesses.
Jobs and Investment – Needed Now!
Before coronavirus, Rowan County had just entered a renaissance phase. But then, COVID-19 came and brought with it a devastating effect on many sectors of the economy. It’s unclear what impact it will have on our economy in the short-term and beyond, but one thing is clear:Rowan County must work to shore up businesses now and continue attracting new jobs and investment. The Rowan EDC’s Forward Rowan initiative will play a crucial role in making Rowan’s economic resurgence happen.
Forward Rowan’s Economic impact
The Forward Rowan plan has a goal of adding 2,500 jobs with living wages exceeding $33,000 by the end of 2024. Those jobs that the EDC helps bring here will, in turn, generate 1,265 secondary jobs. By the end of 2024, consumer spending directly related to these jobs is expected to exceed $82 million. Even with the impact of Covid-19, the EDC expects to reach these goals before 2025.
By 2024, annual consumer spending generated by the 2,500 jobs and $350 million in capital investment is predicted to be
Invest in Rowan County
For too long, other counties in the metro Charlotte region have outperformed Rowan County. The Covid-19 economic downturn has further increased our need to attract jobs and investment proactively and effectively. The EDC’s Forward Rowan initiative prepares our community to be competitive with our product and incentive offerings, enhances our business-friendly environment, and delivers high-performance business services.
We have the right leadership in place. Now is the time to pull ourselves out of the current economic downturn, to build upon a renewed emphasis on economic development, and to accelerate our growth efforts through the Forward Rowan initiative.
Rowan County needs your support. Invest today in Forward Rowan. To make a difference in your business and your community’s prosperity, visit our Engage page.