Author: Tim Aylor
The Southeast Prosperity Zone region* stretches from the shores of the Atlantic Ocean to the Sandhills; and, as such, its economy is closely tied to both coastal and inland commerce. Southeast is home to more than 1 million residents and its population closely resembles that of the entire state in many ways — similar long-term population growth rates, age demographics, and migration as a percentage of population growth — to name a few. By some measures, Southeast’s economic performance also mirrors that of North Carolina. For instance, its recovery from the recession represented by growth rates in people employed, jobs, and business establishments are all on par with the state’s overall performance.
A faster-growing, slightly younger labor force sets Southeast apart, with many employed in the region’s important agribusiness and tourism sectors. Even though less reliant on manufacturing jobs than most other regions, Southeast is a leader in Food Manufacturing. That industry grew by nearly 25 percent from 2008–2013, while many manufacturing subsectors across North Carolina shed jobs. Another key component of North Carolina’s manufacturing success is Southeast’s sea ports. Goods moving through the Ports of Wilmington and Morehead City combine to generate more than $14 billion to the state’s economy, according to an N.C. State University report. Newly released North Carolina port data indicate a 20 percent container volume increase in the third quarter of its fiscal year over the same period last year.
Beach employers also hire younger workers, and as in North Carolina’s Western region, the Southeast is among the most reliant of the regions on tourism-related retail and food service jobs. Tourism spending in the Southeast totaled $2 billion and employed 19,000 in 2013. Taxable retail sales increased by more than 11 percent in real terms from 2008–2013, which was double the statewide rate of growth. In 2013, one-third of Southeast’s private sector jobs were in the Retail Trade, Accommodation, and Food Service industries — more than 36,000 jobs were in the Food Services and Drinking Places industry alone.
Federal government jobs also employ thousands in the region. According to a LEAD report, The Economic Impact of the Military on North Carolina, the military is North Carolina’s second-largest economic sector by supporting nearly $50 billion in state GDP in 2013. Southeast contributes greatly to that total as it is home to Camp Lejeune, Seymour Johnson Air Force Base, Cherry Point Marine Corps Air Station, and other federal facilities. Indicative of the importance of the military and other federal employers, there were nearly 16,000 Southeast federal government jobs in 2013. Many Southeast public employees also work in Education and Health Services jobs — the region’s largest employing sector.
As Southeast races toward greater economic growth, many oars are in the water for the region — thriving tourism, its importance to the military, agribusiness strengths, growing access to global markets, as well as a diversity of services ranging from motion picture production to health care.
*The Southeast Prosperity Zone region is composed of 12 counties located in the southeast corner of the state. It is one of eight regions that was formed in 2014 to improve efficiency between governmental agencies and to enhance customer service. For an economic and demographic introduction to these new regions, see LEAD’s Prosperity Zone Data Books on our website.