The Economic Perspective: “Different Local Economies”

I’m Mary Walden with economist MW welcoming you to the economic perspective.  Today’s program looks at different local economies.  Mike, although we all talk about the national and North Carolina economies, each of us lives in a local area with unique economic features.  When we look at the local economies in North Carolina, what kind of differences do we see?

  1. The economic and management firm, the McKinsey Global Institute, recently did exactly this
  2. As might expect, the Triangle and Charlotte are in a class by themselves
  3. They compete with similar cities like Austin, Nashville, Orlando, and Denver
  4. Asheville, of course, thrives on tourism and retirement living
  5. But put Wilmington in a different category – yes, has tourism and retirement, but also has a significant manufacturing sector
  6. McKinsey found W-S and Greensboro to be different
  7. Greensboro has remade its production sector – for example – aerospace
  8. W-S relies more on health care and education
  9. Two economies that depend on federal military spending are Fayetteville and New Bern
  10. I’m MW

And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.