ROCKINGHAM — Richmond County has seen growth in some sectors of economic health, according to information compiled by the N.C. Association of County Commissioners.
A report released in February, citing data from the U.S. Bureau of Economic Analysis, shows Richmond County had the highest percentage increase in Gross Domestic Product of the state’s 100 counties in 2022.
The county’s GDP was just over $2 billion — an 11% increase from 2021, when it was around $1.7 billion, which was a 2% increase from the previous year.
According to the NCACC, GDP for counties was first calculated in 2019.
The Bureau of Economic Analysis defines GDP as “the total market value of the final goods and services produced.”
Neighboring Anson County had the second-largest percentage hike with 10%, followed by Stokes at 9%.
Tyrrell County, which has the state’s lowest population, had an 11% decrease in GDP.
As for other nearby counties: Hoke’s increase was 5%; Montgomery and Moore both had a 4% increase; and Scotland and Stanly each improved their respective GDP by 3%. The state’s increase was 2%.
Richmond performed significantly better than other counties with populations ranging from 40,000-45,000.
Of those, Pasquotank was the only one to show an increase, with a 1% hike. Davie, Jackson, McDowell and Vance all remained stagnant, while Beaufort County had a 1% dip in GDP.
Other counties with a drop in GDP were Camden, Caswell, Columbus, Craven, Cumberland, Currituck, Duplin, Gates, Graham, Granville, Greene, Halifax, Hertford, Hyde, Jones, Martin, Mitchell, Northampton, Onlsow, Pamlico, Perquimans, Sampson, Surrey, Warren, Washington, Wilson and Yancey.
Sixteen counties saw relatively no growth in GDP.
In 2021, Jones County saw the highest percentage increase at 33%, seconded by Stokes at 17%.
GDP is tied to manufacturing and, according to the NCACC, Richmond County had 38 manufacturing establishments providing 3,330 jobs in 2022.
Those companies include American Woodmark, Cavco, Burlington Industries, Impact Plastics, Plastek and Global Packaging, many of which have expanded in recent years.
Despite having nearly half as many manufacturers, Richmond employed more than twice the number of individuals in the sector than Harnett County.
The county also had fewer establishments but more jobs than Beaufort, Brunswick, Chatham, Dare, Edgecombe, Franklin, Montgomery, Moore Pender, Rutherford, Sampson, Scotland, Vance, Watauga and Yadkin counties.
Also in 2022, according to NCACC, there were 1,522 local government employees in Richmond County, accounting for 11% of the workforce.
The county’s per capita income increased 2.6% to $46,009, but the population remained roughly the same.
Another report, issued Friday, shows that Richmond County had 261 farms using 57,946 acres of land in 2022, according to information from the U.S. Census of Agriculture. The number of farms has increased since 2017, but more than 1,200 acres of land are no longer used for farming.
County Manager Bryan Land said he and Martie Butler, economic developer, “both feel strongly that the increase can be attributed to the explosive commercial and industrial growth we have experienced over the last few years.”
Although there were no new industries to come to Richmond County in 2022, there were several economic development announcements that year.
American Woodmark, Impact Plastics and Direct Pack each announced expansion projects collectively bringing more than 200 new jobs to the county, with investments totaling tens of millions of dollars.
Gov. Roy Cooper made the trip to Hamlet for the groundbreaking of American Woodmark’s expansion in 2023.
Click here to read that story.
There were also two acquisitions, with Wade Manufacturing being bought by Mount Vernon Mills and Cavco purchasing VBC.
Click here to read an overview of business in Richmond County for 2022.
While Land and Butler didn’t want to speculate on future growth, they are working to attract companies to the new Energy Way Industrial Park on Airport Road, south of Hamlet.
“Obviously neither one of us have a crystal ball and can predict the future but both of us are cautiously optimistic that the positive trends in our economy will continue,” Land said. “I assure you we are giving 110% every day on our end to bring industrial development to our county.
“Bottom line, it’s an accomplishment we should all be proud of.”
