The Lowest Unemployment Rate in North Carolina is in Currituck CO

We are so excited to claim the lowest unemployment rate in the entire state of North Carolina.  Currituck CO landed in the top spot in October 2012 with an unemployment rate (UE) of just 5.5 percent.  When compared with Scotland and Graham County’s UE rates topping 15 percent, it is very evident that Currituck County is prepped to see continued economic growth.

Much of the stability of the job market in Currituck County comes from the tourism and visitor-related industries which are seeing growth during the “shoulder seasons” of the spring and fall.  This new growth is attributed to visitors from surrounding areas who come to our slice of paradise for long weekends and overnight stays.

Outside the tourism industries we are seeing larger growth in the agricultural industry as well.  With the increases in demand for agricultural production as well as the demand for fuel all over the world, Currituck County has huge potential for long term growth in agriculture over the next 10 years.  

Other sectors seeing growth are small businesses as well as year round services and professional jobs.  More people are relocating to Currituck County from Hampton Roads and other parts of the country because of their ties to the military either in the military or working with defense contractors which means more people are setting up needed businesses in the area. 

As the northeastern most county in North Carolina, Currituck County is the bridge between Hampton Roads and the Outer Banks.  With the estimated population of almost 24,000 (2011 Census Estimate) people living on over 260 square miles of land, Currituck County is ripe for the picking with businesses relocating to the area.  The ideal location with rural and coastal areas, lower taxes and access to perfect beaches, this is the perfect locale for business and personal relocation.

We are excited for the future of Currituck County and plan to do everything we can to ensure its economic success.  Because of our strong outlook and our love of the community, Currituck County will, without a doubt, prosper and continue to grow.  

For more Contact:

Think Currituck 

P153 Courthouse Road, Suite 207

Currituck, NC 27929

Phone:             252-232-6015      

http://www.thinkcurrituck.com/

Agriculture Remains Strong in Currituck County

While most of the nation’s farmers faced significant drought this summer, agriculture remained a strong economic force in Currituck North Carolina. Recent trends in Currituck County point to an increase in agriculture production in the area. These factors, combined with increased food and fuel demands throughout the world have Currituck North Carolina in position to have long lasting economic growth in the agriculture industry.

Recently Business North Carolina published a report that said Currituck North Carolina was 10^th in the state among county’s producing corn in 2011. With more Currituck North Carolina land being developed for agriculture, corn producing numbers in Currituck County figure to expand. The U.S. Department of Agriculture predicts North Carolina’s corn yield will rise nearly 36% per acre compared with last year, which is good news for Currituck County farmers because the price of corn has skyrocketed due to the drought. 

As the rise in food demands continue to increase Currituck County agriculture is expected to remain a strong economic force in the region. Because of the increase in food demand Currituck County agriculture will continue to play a major role in the local and global economies for at least the next 10 years. USDA projections show continued population growth expected in developing nations and over the next 10 years those countries will continue to be the source for most of the growth in agriculture exports in the United States. Additionally population increases mean an increased need for energy sources which will further add to a need to produce more bushels of corn.

Agriculture companies in Currituck North Carolina are taking note of this expected growth and using more Currituck County land for agricultural purposes. County officials report almost all of the tracts of land available for farming in Currituck County are currently being used. This is a shift from just a few years ago when, in 2007, many tracts went for sale for residential development.

As the agriculture industry continues to thrive in Currituck North Carolina so does the local farmer and small business owner. Larger farm units like Justice Farms are fast becoming major players in the agriculture industry in the Currituck County and the region as a whole. Roadside markets continue to grow in Currituck County and wineries continue to thrive, which are just a few of the factors that will help the Currituck North Carolina tourism growth rate improve as well.

For more Contact:

Think Currituck 

P153 Courthouse Road, Suite 207

Currituck, NC 27929

Phone:             252-232-6015      

http://www.thinkcurrituck.com/

Increase in Port of Virginia Traffic Would Benefit Currituck County

A proposed effort by Virginia Governor Bob McDonnell to increase traffic at the Port of Virginia could have long-lasting positive economic impacts on Hampton Roads business and Currituck County.  The port has struggled to recover from the recession and increased competition along the East Coast has forced the government to step in and look for alternatives. The port is very necessary to Hampton Roads business, accounting for over 10% of the entire region’s Gross Domestic Product (GDP).

Governor McDonnell’s plan to increase traffic is already underway as he has made changes to the Virginia Port Authority Board of Directors. McDonnell would also like to privatize the port and Virginia has already received three proposals from private businesses to operate the facilities. Government officials say brining in a private company to run the port because the current practice of recruiting shipping lines, while helping overall traffic growth, creates fewer jobs than the impact of new distribution centers that a private company would bring in. Currituck County officials also note that a private company would better streamline the port’s operations and better solicit new cargo.

What can help the port and Currituck County and Hampton Roads business is the port has advantages over its competition. The Port of Virginia has no overhead obstructions like bridges which will allow for more efficient cargo delivery than other ports in the Northeast and Southeast.

Currituck County and Hampton Roads business could benefit from private management of the port because maritime and port related industries are high target industries for Currituck County. Currituck County also has the direct rail, highway, and waterway access to the Port of Virginia and Hampton Roads Business. Currituck County also has available warehousing and manufacturing sites available for increased services to Hampton Roads business and the port.

Because Currituck County has a lower tax rate than what Hampton Roads business pay, Currituck County officials also say because Currituck is only approximately 30 miles from the port, the growth at the port will grow the industry in the county and provide jobs and a positive economic impact for county residents.

Expansion of ports and the need for ports to handle larger shipping vessels is a result of the expansion of the Panama Canal, which was a plan approved by the Panamanian’s in 2006 and is expected to double the capacity of the Panama Canal by 2014.

In early September the deadline for proposals from bidders on the Port of Virginia was pushed back to November 1, however the selection date for a preferred proposer has been left open-ended. 

For more Contact:

Think Currituck 

P153 Courthouse Road, Suite 207

Currituck, NC 27929

Phone:             252-232-6015      

http://www.thinkcurrituck.com/