Every year, the N.C. Department of Commerce studies national, statewide, and local economic trends to produce long-term and short-term industry projections for state and substate areas. Based on historical data, these projections provide a guide for how the state industry landscape may develop given the current economic trends. The following projections for the Southwest Region have been developed using regional industry trends. The current projections cover the years 2012 to 2022 for approximately 400 industries.
The Southwest Region is projected to add more than 140,000 positions by 2022, with the majority of the growth potentially occurring in the Education and Health Services sector. Interestingly, the Southwest Region is the only Prosperity Zone in the state to not have Education and Health Services as its largest sector. Trade, Transportation, and Utilities was the largest sector in 2012, comprising 19.4 percent of employment. That share is projected to decline to 18.9 percent in 2022, but the sector will likely continue to be the largest portion of positions. Education and Health Services is estimated to close the gap, going from 17.2 percent of employment in 2012 to an estimated 18.4 percent in 2022. Professional and Business Services is another growing sector for the Southwest Region, potentially adding more than 24,000 jobs by 2022. The Construction industry is estimated to have the fastest growth, particularly in the Specialty Trade Contractors sector which is projected to grow at an annualized rate of 3.9 percent from 2012 to 2022 and add 14,000 positions. The Top 25 lists of growing and declining detailed industries are available for viewing and download below.
Southwest Region Data Files