Page 48 - Greensboro, NC-GSO 2040 Comprehensive Plan

CHAPTER 9: BIG IDEA - GROWING ECONOMIC COMPETITIVENESS

ISSUES AND OPPORTUNITIES ADDRESSED Technology
The goals and strategies in the Growing Economic Competitiveness Big Idea Technology is a driving force in economic development, and a broad-based
address issues discussed in public meetings or observed when collecting data approach to preparing for advances in technology is important. Upgrades to
about the city. More details are available in the Data Book, the Conditions and city infrastructure, access to technology for residents and neighborhoods, and
Trends Report, and in the public comment summary. partnerships to navigate changes, will ensure our success. Predicting the future
of technological change is difficult; cities around the world are preparing their
infrastructure for technologies and modes of transportation and communication
Reinventing Our Economic Base yet to come.
Greensboro felt the effects of the last recession before other communities.
Greensboro has a long history as a manufacturing and logistics hub, and like so Unpredictability
many American cities, experienced a decline in manufacturing as companies Much of the change and growth in our economy is driven by changes in the global
either relocated or shut down in response to global economic forces. Since 2000, economy and in technology. To be nimble enough to respond to change, the City
the share of manufacturing jobs as a percentage of total jobs decreased while and the region need to have a strong foundation in the basics such as education,
the share of service jobs increased, and many high-paying “blue collar” jobs that job training, infrastructure, and partnerships.
required less formal education have been replaced with low-paying jobs in the
service sector. More recently, this trend is beginning to reverse, and Greensboro Industrial Land
has made strides in logistics, aerospace, and other areas of focus; planning will help Economic development efforts frequently focus on locations that have charac-
continue this upward trend and produce a more resilient economy.
teristics favorable for use by industry, such as adjacency to highways and rail,
large size, a lack of slopes and streams, and the absence of large residential areas
Equity and the Shrinking Middle Class or other incompatible land uses. These sites are in increasingly short supply in
The number of Greensboro residents living below the poverty level increased by Guilford County, and land use decisions should carefully consider the impact on
over 10%, from 2000 to 2018, over 26,000 people. Earnings did not keep pace with industrial land.
other cities in North Carolina and are well below Raleigh and Charlotte.
Many workers must commute to other cities for employment. Wealth, income, and Some older industrial areas within the city limits of Greensboro, particularly in
unemployment vary dramatically from one census tract to another across the city. south and east Greensboro, are becoming obsolete and offer opportunities for
reinvestment. In particular they can support smaller businesses that typically can
Regionalism coexist with other land uses. These areas can support a diversified and resilient
Greensboro is in competition with larger economic markets, which means we must economic base in areas of the city that need reinvestment.
continue to build on partnerships currently in place, at scales ranging from inside
the City, to across the county, to the multi-county region. This includes not just
traditional economic development partners, but also the educational community,
such as the Guilford County School system and local colleges and universities.

45 |GSO 2040 Comprehensive Plan