Garner Economic Development 2018-19 Annual Report 1 | Page 6

CONTINUING
BUSINESS RETENTION AND EXPANSION
20 companies were visited in FY19. The Business Retention and Expansion Program’s
sole focus is to strengthen the relationship between the local government and business
community and keep existing companies operating in Garner. Through annual visits with
local companies, the department is able to get a snapshot of the health of the local economy
and address any issues that might lead a company to close or leave Garner.
80% of companies visited this year reported they were adding positions. This
speaks to the overall health of the local market as the 20 companies visited
represent a variety of industries across the Garner economy.
About one quarter of the companies visited reported they were having difficulty
in filling open positions. This is about the same rate from last year. This trend
should not be expected to change in the short future, as the unemployment
rate in the Triangle continues to hover around 3-4%.
30
%
of companies reported
that they were planning
to expand in the next
12-18 months
SPOTLIGHT ON GARNER’S STATION
Podcasts seems to be all the rage these days. The Garner Economic Development
Department and Garner Communication Department worked together to
develop Garner’s Station, a podcast platform for Garner related topics. Two
podcasts were release in FY19 that focused on economic development issues
of workforce development and entrepreneurship. These podcasts will help
educate the public on pressing issues in our community and bring attention to
the great partners the town works with every day to serve our citizens.
85
%
of companies reported
sales were increasing
100
%
of companies reported
that the likelihood of
them closing is low
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