Bussiness
Study: Cumberland County among top-ranking in NC for business investment
The growth in incoming investment in Cumberland County is among the highest in the state, according to a recent study.
The SmartAsset study analyzed the places across the U.S. receiving the most incoming investment, and studied three metrics: business establishment growth, gross domestic product growth and new building permits, according to the study’s website. SmartAsset is a financial advising company that specializes in retirement, financial literacy and matching advisers to clients.
Cumberland County ranked eighth in North Carolina with 16.46% business growth; $6,584 gross domestic product growth; 5.40 new building permits per 1,000 homes; and a 1.61 gross domestic product growth index, according to the study.
Mecklenburg County ranked first, followed by Wake County, Guilford County, Buncombe County, Forsyth County, New Hanover County and Durham County. Cumberland County is followed by Union County, with Iredell County in the 10th spot, according to the study.
Jones, Gates, Graham and Hyde counties are some of the lowest-ranking counties in the state, according to the study’s interactive map of North Carolina’s GDP growth.
The study analyzed the change in the number of businesses established in each county over three years to determine how many new business ventures each county received, according to its website. It also determined real estate growth by examining investment and development and the number of new building permits per 1,000 homes, according to its website.
After evaluating each county, the county’s scores were combined to determine a final ranking. The county with the highest incoming investment received a value of 100 and the county with the least investment activity received a zero, according to the study’s methodology.
Reporter Lizmary Evans covers growth and development for The Fayetteville Observer. You can reach her at LEvans@gannett.com
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