City boosts region's job gains
The city contributed in a significant way to the Piedmont’s growth in jobs during last year as the region’s economy emerges from the Great Recession.
A recent report from Piedmont Triad Partnership indicates that 2012 was the best year for job creation since the recession sapped the national and local economy more than four years ago. Companies involved in manufacturing, office operations, clinical laboratory work and logistics announced plans to create more than 7,000 new jobs in the region last year.
The totals for 2012 were a marked improvement from the approximately 5,600 new jobs announced in 2011 and 4,700 jobs unveiled in 2010, according to the partnership, a regional economic development group.
Job announcements by new and expanding industries in High Point contributed to the region’s gains last year. The announcements included major expansions by Ralph Lauren Corp. and Solstas Lab Partners, which each added several hundred news jobs, and the decision by Stanley Furniture to relocate its corporate headquarters from Virginia to the High Point Market showroom district downtown. Other companies in the city made smaller, but regular, announcements about expansions or relocations to the city that will add to the employment base.
“2012 was the best year our office has seen in the 12 years I have been in this job,” said Loren Hill, president of the High Point Economic Development Corp. “We were the busiest with clients and had the most and largest project announcements.”
The city covers 0.92 percent of the Piedmont Triad Partnership’s geographic territory and 6.36 percent of the population of the 12-county region, according to the EDC.
“Yet in 2012, High Point had three of the top five largest job announcements in the region — 60 percent — and nine out of the 47 job announcements — 19 percent — that (the partnership) listed,” Hill said.
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