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Economic Development
| ECONOMIC DEVELOPMENT | Jones: Economy on recovery road
BY CHRISTINA HALEY O’NEAL
The Wilmington area economy is doing better than expected a year after the COVID-19 pandemic took a toll on many businesses across the region, said Adam Jones, a regional economist with the University of North Carolina Wilmington.
With the recent rollout of COVID-19
CHRISTINA HALEY vaccinations and
O’NEAL the easing of statewide restrictions, the region could see business bounce back even more this summer, including in the leisure and hospitality industry, a sector hard hit by the pandemic.
Economists nationwide have described several shapes for this particular recession, Jones said. A “V-shape” and “check-mark” recovery were all forecasts for this economic situation.
The Federal Reserve in June predicted that the GDP would shrink by Statistical Area, jobs in the leisure sure and hospitality lined back up.” 6.5% for the fourth quarter, year over and hospitality sector continue to Jones also noted that the area’s year. suffer the most, down 14.5% year sales tax revenues held strong.
“We turned out to only be down over year in January. Taxable sales during March 2% year over year,” Jones said. “And Jones said he expects an improve- 2020-January 2021 for the there are two reasons for that. One, ment in that sector to come in July, three-county area were almost 2% the federal government has put for- as the summer could prove strong for higher than the same time period ward unprecedented stimulus. They the industry’s comeback with more before the pandemic, according to have never sent out as many checks people making their way to the coast Jones. and other programs as they’ve un- during the tourist season. “Further, many state and local dertaken this time around. So, that’s “I think there is a lot of pent-up budgets will be in a strong position been helpful. And I two, I think we have a tendency to underestimate how creative business owners are … they’ve adapted. I’m amazed at how well they have done.” New Hanover County’s unemployment figures are lowering, despite the big spike last April when figures jumped up to a 15% unemployment rate, according to figures from the N.C. Department of Commerce. demand, and I think that people are sitting on savings and they’re just itching to go ... And the vaccines have just started,” Jones said. “I expect people to come back. I expect that [people] will vacation here. I think that indoor dining may be a little slower to recover just because we’re waiting on people to get comfortable with it, but I don’t think that’ll take too long either.” because any ‘non-essential’ expenditures were cut,” Jones said. “For example, at the university, nobody is traveling and while travel isn’t a large part of the university budget, it’s an example of cuts that were made that should put the state and local governments in a strong position to help drive growth going forward.” Overall, Jones said he believes the
Figures have been declining since It could be harder, however, to region is “on a strong path towards then. And January’s unemployment bring back the area’s unemployment recovery.” numbers, the most recent statistics to pre-pandemic rates, he said. “I think really what is going to available, showed a 5.5% unemploy- “Even with a pretty strong bounce drive all of this isn’t an economic ment rate for the county. back, if unemployment gets down to story. This remains a public health
However, those statistics were still 5%, it’s going to be hard to drive that story,” Jones said. “And the quicker above pre-pandemic unemployment last percent. It always is,” Jones said. we can get the vaccines out there and rates, which in January 2020 was “Most of the real gains have already get the public health crisis behind us, 3.4%. taken place, for instance, in retail, the economy will recover right on its
In the Wilmington Metropolitan and now we are starting to see the lei- heels.”
FILE PHOTO Reviving dining: Diners are shown late last year at Rx Restaurant. The hospitality sector, which includes restaurants and bars as well as lodging, took the biggest hit locally during the pandemic. Loosening restrictions and COVID-19 vaccinations are expected to help those jobs rebound.
Two employers report hiring trends for new work
Two Wilmington-headquartered companies that are among the area’s larger employers are in hiring modes.
Alcami Corp., a global pharmaceutical contract development and manufacturing organization, has plans to grow its base in Wilmington and has several open positions, said Patrick Walsh, the company’s new chairman and CEO. Walsh took on the leadership role last month.
Since June, Alcami has added about 115 employees to the company, with a third of those added to the Wilmington site, he said.
There were another 35 positions open in Wilmington, Walsh said in March.
Alcami is planning in Wilmington to add additional capabilities in the company’s oral solid dose manufacturing center and its packaging center. Company officials are looking to expand Alcami’s analytical services lab, as well as its formulation capabilities.
“We just brought in a new roller compactor and are adding additional packaging and manufacturing capabilities. We also plan to expand the laboratories that are in the headquarters building,” Walsh said.
GE Hitachi Nuclear Energy, a provider of advanced reactors, fuel and nuclear services, is also hiring.
GE Hitachi officials said recently that the company was hiring for several new positions associated with other developing and ongoing projects in its nuclear technologies business, including progress toward the commercialization of GE’s small modular reactor model.
GE Hitachi in March had more than a dozen positions open in the Wilmington area to support its growing nuclear technologies, including engineers and project managers.
Send information about company hires, promotions or awards to editor@wilmingtonbiz.com Martin joins CloudWyze
Martin joins the company as the client account manager-rural markets, according to a news release. He was previously with Watch Communications as a field services technician.
Martin “His passion is helping to build wireless network infrastructure that provides quality high-speed internet service to those in rural areas that have no options or bad options,” officials said.
He grew up in Goshen, Indiana.
Skobel named Trinity Landing leader
Trinity Landing has announced BONNIE SKOBEL as its executive director.
Skobel was one of the first staff members to be hired at Trinity Grove, a Lutheran Services Carolinas skilled nursing facility that opened in 2011. She was named administrator of Trinity Grove in
Skobel 2015. She previously worked as a social worker.
Trinity Landing is a new active senior living community being built by Lutheran Services Carolinas on the Intracoastal Waterway. The community is planned to have 184 units in its initial construction phase with a slated opening in 2022. It is a sister community to Trinity Grove.
Lynn Crist to lead The Property Shop in Burgaw
JAMIE LYNN CRIST will manage The Property Shop International Realty’s new Burgaw office. The Property Shop International Realty recently announced the new office at 213 S. Wright St. in Burgaw, officials said. Crist is a local
Crist resident who has lived in the area for more than 40 years. She has been one of the firm’s top producers.
Other real estate professionals at the Burgaw office are APRIL SHEPARD, JEFF DAW, HALEY MOSELEY and JASON WORTHY.
Eagle Eye Marketing adds Smith to team
Wilmington-based Eagle Eye Marketing has welcomed KRISTINE SMITH to its team.
Smith has joined the firm as director of business development, serving existing clients as well as helping secure new business for the organization, officials said. Smith has more
Smith than 20 years of experience in radio sales. She began her marketing career at J. Walter Thompson in New York City.
Most recently, she spent nearly 12 years with Sunrise Broadcasting in Wilmington. She has also worked with other broadcast organizations.
Smith is a graduate of Manhattanville College.
Baughman joins NHRMC
NHRMC Physician Specialists – General Surgery Specialists has welcomed SAMUEL BAUGHMAN to the practice.
Baughman is a general surgeon with fellowship training in trauma surgery and surgical critical care. He completed his residency in general surgery at Spartanburg Regional Health Care System in Spartanburg, South Carolina, and his fellowship training in surgical critical care at the University of Minnesota.
Baughman earned a bachelor’s degree from Wofford College in Spartanburg, and a Doctor of Medicine from the Medical University of South Carolina in Charleston.
Baughman
Newman appointed to leadership role with CCNC
Community Care of North Carolina Inc. has named LYDIA NEWMAN as executive vice president and chief administrative officer.
Newman will provide leadership in government affairs and work closely with the Community Care of North Carolina Inc. (CCNC) and NCCCN boards as the chief administrator and board liaison for the organization. She will also advise CCNC president CEO Tom Wroth on strategies to “carry out value-based contracts between the provider network and payers and work collaboratively with CCNC’s internal departments and external stakeholders to assess, define, coordinate, and implement CCNC’s payer strategy,” officials said.
Newman already has extensive experience with CCNC. She helped start and led the operations of CCNC’s local network Community Care of Lower Cape Fear for more than 12 years, while also serving on CCNC’s statewide board.
Newman
