The Future Looks Bright for NC Developers and the Construction Industry

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North Carolina’s population growth outgrew the national rate over the past decade, according to data released in March by the U.S. Census Bureau, due largely in part of North Carolina’s fast growth earlier in the decade and its diversified economy during the recession. The state grew 18.5% during the decade, compared with 9.7% for the U.S. overall.  This increased North Carolina’s population to 9.5 million people. North Carolina moved up one position past New Jersey to become the 10th most populous state. To see the Wall Street Journal article, click here: http://online.wsj.com/news/articles/SB10001424052748704728004576176971322420058.

Wake, Durham and Harnett counties were among eight counties in the state that grew by more than 2 percent in the year ending last July, the Census Bureau said Thursday. The fastest growing county was Brunswick on the southeastern coast, which grew by 2.8 percent.  The Raleigh-Cary metropolitan area was the 11th fastest-growing in the nation since the 2010 census, according to the Census Bureau. An estimated 1,214,516 people lived in the three-county area last July 1, up nearly 7 percent since 2010. To see the News & Observer article, click here: http://www.newsobserver.com/2014/03/27/3737118/census-estimates-show-uneven-growth.html#storylink=cpy.

Raleigh’s growth landed it the No. 2 spot on Forbes’ annual list of America’s Fastest-Growing Cities, based on business growth, a great higher education and University system. The combination of great weather, affordable cost of living, universities and job opportunities has for this growth. To view the list, click here: http://www.forbes.com/sites/erincarlyle/2014/02/14/americas-20-fastest-growing-cities/.

These factors should continue to push real estate development opportunities and create sustained growth for developers, contractors and construction suppliers into the next decade.development

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