INC NEWS - Durham Celebrates Decade of Steady Growth

[Blalock, Amy]

CITY OF DURHAM

Office of Public Affairs

101 City Hall Plaza

Durham, NC 27701

 

 

News Release

 

For Details, Contact:

Amy C. Blalock

Senior Public Affairs Specialist

(919) 560-4123 x 253

(919) 475-7735 (cell)

Amy.Blalock at durhamnc.gov <mailto:Amy.Blalock at durhamnc.gov> 

 

For Immediate Release:  December 11, 2007

 

 

Durham Community Reflects on Decade of Steady Growth at 10th Annual
State of Economy Breakfast

Event Also Reviewed Economic Progress in 2007

 

Durham, N.C. -  Buoyed by the success of downtown investment of more
than $1 billion over the last decade prompting stable growth and
development throughout the city, Durham is set to continue a pattern of
steady and sustainable growth for the foreseeable future.  That message
was delivered to more than 600 business and community leaders at
Durham's 10th Annual State of the City address held this morning at the
Durham Civic Center.

 

According to Mayor William V. "Bill" Bell, today's event was a
benchmarking opportunity for Durham's successes as well as a time to
look ahead at challenges to come.  "Today's event gives us a chance to
look back and see how far we have come over the last 10 years and allows
us to think about where Durham will be ten years from now," Bell said.
"While it's wonderful to reflect on the past 10 years and celebrate our
collective progress, it's also a good day to look ahead and think about
our collective challenges and ask ourselves, 'What will people say on
the 20th anniversary of this event?'"  

 

According to Bell, some of the key issues facing Durham in the next
decade include fostering "green" industries, global warming concerns,
infrastructure and transportation needs, sustainable development,
regional development, brand marketing, neighborhood redevelopment,
workforce development, and culture and arts.

 

Durham City Manager Patrick W. Baker, who emceed today's event, said the
changing face of Durham is evident from the statistics.  "We are an
evolving, diverse community that has traveled an exciting road over the
past 10 years," Baker said.  "So many businesses now call Durham home.
The redevelopment that has re-energized our landscape, the marketing
that has built our brand, and the education and training that has
re-tooled our workforce should give all Durham residents much pride and
satisfaction."

 

According to the 2007 State of Durham's Economy Report, Durham has
experienced the following changes over the last 10 years:

*         Durham's population has increased by approximately 15 percent
since 1997.

*         The Durham community has become a more diverse community, with
48 percent white, 37 percent African American, 9 percent some other
race, and 4 percent Asian.  

*         Durham's tax base is healthy with 43 percent of the base from
commercial properties.

*         Total construction permit values have never been below $640
million in any given year and reached a high of $919 million in 2006.

*         Retail sales tax collections have increased from $130 million
in 2002 to $166 million in 2007.

*         The number of persons living downtown has increased 81 percent
since 1997.  The number of housing units has increased 80 percent for
the same period.

*         The amount of leasable office space downtown has increased 63
percent while the vacancy rate has stayed constant.

*         The number of persons working downtown has increased by 65
percent.

*         Durham's housing has remained affordable with the cost of
living index remaining 10 points below the rest of the country.

*         Visitor spending nearly doubled from 1997 to 2006. 

*         In 1996, Durham was 16 percent higher in total crime per
100,000 vs. Southeast peer cities.  Ten years later, Durham is about
even with its Southeast peer cities, and 10 percent below national peer
cities.

*         The number of persons employed in Durham County has grown 16
percent in 10 years, yet the unemployment rate remains low at 3.7
percent vs. 2.5 percent in 1997.

*         Durham continues to lead the 13-county Triangle region with 48
percent of its business investments and 49 percent of its jobs.

 

Alan DeLisle, assistant city manager of the City's Office of Economic
and Workforce Development, also provided specific information on the
past year on a wide range of economic indicators such as, population,
employment, tax base growth, construction activity, retail sales,
commercial real estate markets, downtown growth, quality of life, crime,
visitor impacts, education, manufacturing, small business, workforce
employment and wages, and business development.  "This community
continues to evolve and enjoys strong citizen participation and a
growing economy," DeLisle said.  "The special thing about Durham is that
it builds on its past and while fostering new entrepreneurialism.  As
evidenced here today, much economic progress has been made in the last
year."  

 

Some of the progress made during the past year that was cited by DeLisle
during his presentation included:

*         The $16 million Downtown Streetscape was completed. 

*         Construction of the $44 million Durham Performing Arts Center
is on schedule and on budget. 

*         West Village Phase II continues to be built out to the tune of
$150 million.  A $4 million Streetscape project connecting Brightleaf to
the City Center will begin soon. 

*         Historic Durham Athletic Park (DAP) project was approved to
include a $5 million renovation and a three-year operating agreement
with Minor League Baseball (MiLB). MiLB will use the DAP as a national
training facility for its 160 affiliated teams. 

*         A project to renovate the Golden Belt industrial complex into
a new campus for artists is now under construction. 

*         Deal points for a major new redevelopment of Heritage Square
project were approved. The site has been purchased for redevelopment.

*         American Tobacco continues its revitalization. Construction of
Diamond View II is now taking place. 

*         Plans for Historic Parrish Street and the Cultural Master Plan
continue to be implemented. 

*         The County continues to move forward with plans for the new
justice center and human services complex along East Main Street. 

*         Barnes Avenue, formerly a distressed community, has become a
totally new and vibrant community. 

*         Implementation of the Neighborhood Assessment Plan began in
five targeted neighborhood commercial areas. 

*         The Hope VI project continues to make progress, providing
well-designed, affordable housing for Durham residents.

 

Attendees at today's event were also treated to a video detailing the
economic impact of theater on a community by Nick Scandalios, executive
vice president with Nederlander Producing Company of America, LLC,
operator of the City's new Durham Performing Arts Center, which is
scheduled to open in November 2008.  Pat O'Connor, president of Minor
League Baseball (MiLB), also gave remarks to attendees regarding MiLB's
future role in Durham.

 

Along with the City of the Durham's Office of Economic and Workforce
Development, this year's State of Durham's Economy Breakfast was
sponsored in collaboration with the Greater Durham Chamber of Commerce,
Downtown Durham, Inc., Durham County and the Durham Convention and
Visitors Bureau, Duke Energy, and Central Parking System.

 

To view the 2007 State of Durham's Economy Report in its entirety, visit
www.durhamnc.gov/departments/eed/sodeb. 

 

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