Currituck County Ranked 2nd in N.C. for Financial and Economic Well-Being

CURRITUCK COUNTY, N.C. (April 16, 2015) ― Currituck County has been ranked No. 2 in the state for overall financial and economic well-being, according to a recent report from the North Carolina Department of Commerce.

“We’ve enjoyed three years of upward trends in vital economic development and fiscal indicators. Those trends – plus major investments in infrastructure, workforce development and recreation – translates into solid momentum for the future growth and prosperity of our business community,” said Currituck County Economic Development Director Peter F. Bishop.

Currituck County business, governmental and civic leaders are delighted with the county’s statewide ranking but not surprised, Bishop said. “The positive trends we’ve been seeing in our community have now been documented,” he said. “We’ve laid the groundwork to set up 2015 and beyond for more growth for our business sector.”

For example, a revitalized and growing residential market in the Moyock community, a robust tourism industry and continuous infrastructure expansion throughout Currituck County is spurring new private investment.

The ranking, produced by the N.C. Department of Commerce’s Labor & Economic Analysis Division, compares North Carolina’s 100 leading counties on adjusted property tax base per capita, population growth, median household income and unemployment.

Currituck County’s adjusted property tax base for 2014-15 was $293,712; the population growth rate for July 2010 to July 2013 was 3.63 percent; median household income for 2012 was $54,822; and unemployment for October 2013 to September 2014 was 5.42 percent – all based on the latest available figures.

The county continues to work hard to maintain the momentum of the business community and build on the very positive trends.

Tourism

Currituck’s well-known tourism economy has remained strong, posting annual increases in occupancy tax revenue, while enjoying continued vacation-home construction that buoys the entire tax base. Summer visitation to the Outer Banks beaches of Corolla and Carova represents the majority of our tourism revenue, but several measures are underway to expand tourism opportunities throughout the county.

• In 2015, Currituck County Department of Travel and Tourism is stepping up marketing efforts for mainland Currituck attractions, such as the Currituck County Rural Center and Mackay Island National Wildlife Refuge, as well as promoting the county’s hunting and fishing lodges, through a series of billboard, print and online advertisements.  
  
  
• The county is undertaking a hotel feasibility study and marketing package to entice more hospitality options for mainland visitors, Currituck County Regional Airport users and the sports-recreation market served by recreation amenities at Currituck Community Park.
  
  
• The county received excellent news when the N.C. Department of Transportation announced in late 2014 that the Mid-Currituck Bridge – a new bridge to connect Corolla with mainland Currituck in Aydlett – had received priority funding consideration and would ramp up construction within 10 years. The primary goals for the bridge are improving coastal evacuation times to the Currituck mainland and reducing highway congestion and travel times for visitor, commercial and residential traffic.
  
  

Leveraging County Investments

Currituck County has made significant public investments in strategic locations throughout the community to encourage and support new growth.

• Currituck Community Park, located in Maple, has exploded with recreation, aviation, workforce and economic development investments.
  
  
• In 2013, Currituck County and the College of The Albemarle opened the $7.1 million, 40,000-square-foot Regional Aviation and Technical Training Center at the Currituck County Regional Airport. The facility provides FAA-certified airframe and power plant certifications as well as avionics, composites, CNC-machining and design training. That same year, Currituck County opened Maple Commerce Park, a $5 million, 85-acre, shovel-ready industrial park adjacent to the airport, providing aviation-related companies with sites with direct access to the airport and the college’s aviation training facility.
  
  
• In 2014, the county completed a focused “Small Area Plan” process designed to facilitate, direct and manage commercial and residential development in Moyock, our fastest-growing community. This new plan, coupled with county sewer services available to all development types in Moyock, is spurring commercial and industrial development interest in Moyock.
  
  

Airport

• Currituck County has is investing invested $15 million in capital projects to expand Currituck County Regional Airport’s abilities to help meet increased general aviation business and corporate aviation demand, as well as boost economic development opportunities in the Mid-Atlantic defense and aerospace corridor stretching from Hampton Roads to Cherry Point, N.C.
  
  
• In the past year, the county completed a $35,000 fuel farm rehabilitation project at the airport, including new pumps, hoses and grounding reels to improve the experience of pilots who visit the airport. The coming year will bring construction on a $3 million southern parallel taxiway, connecting Runway 5 to the terminal and fuel farm areas. In 2016-17, the airport will begin the planning and design of $3 million in new ramp improvements, tie-down spaces and for-lease hangar buildings east of Runway 23.
  
  
• On May 9, the airport will host its inaugural Currituck-Outer Banks Skyway Festival to showcase our airport’s essential role in the community.
  
  

But Currituck County’s leaders are not content just to look back over the past three years.

“We’re going to continue doing all the things that have gotten us where we are – such as major investments in infrastructure, workforce development and recreation – to insure positive, measured growth in 2015 and beyond,” Bishop said.

The county also has been proactive in marketing itself as a community that values its business partners, Bishop said. He noted that the economic development office has published an e-book “Guide to Moving Your Business to North Carolina,” available for free. 

Among the highlights, the online booklet points out that “Currituck County has an ideal location that directly connects to the Mid-Atlantic region by train, plane, truck or ship. The proposed I-44 corridor would connect Raleigh to Hampton Roads and a new bridge will link the mainland of Currituck County to Corolla. Both of these improvements will bring the Outer Banks within reach by reducing highway congestion and by cutting commuting times in half on a trip from Hampton Roads.”

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For more information about Currituck County Economic Development, please contact Peter F. Bishop, economic development director, at 252-232-6015, or pbishop@thinkcurrituck.com, or at 153 Courthouse Road, Currituck, North Carolina 27929, or please visit website ThinkCurrituck.com.