RES-2009-088 Resolution for the Sale of Refunding Bonds

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25 Demographic Characteristics The United States Department of Commerce, Bureau of the Census, has recorded the County's population to be as follows: 1980 199Q 2000 77,056 93,662 115,537 More recent population estimates are as follows: JUE "M1 20071 20081. 121,991 123,766 127,344 129,296 -'Estimate of North Carolina Office of State Budget and Management. Per capita income figures for the County and the State are presented in the following table: YAM c° 2003 $33,282 $27,942 2004 37,225 29,440 2006 39,363 31,002 2006 41,162 32,271 2007 43,844 33,735 • Source: United States Department of Commerce, Bureau of Economic Analysis (most recent data available). Commercial,Industrial and Institutional Profile The County's economy is characterized by a high degree of institutional and public-sector activ. ity,plus office, commercial and service-oriented business.Manufacturing and agriculture are small- er portions of the County's economy. The University of North Carolina at Chapel Hill and University Hospitals in the Town of Cha- pel Hill and their associated service, teaching and research programs.have a reputation for excel- lence in the educational and medical fields. The County is also the place of residence for many technical, professional and executive people who work in the Research Triangle Park and neighbor- ing cities of Durham,Raleigh,and Burlington. The Research Triangle refers to an area located among three municipalities: Chapel Hill,Dur- ham and Raleigh. In addition to the University of North Carolina at Chapel Hill,universities located in these municipalities include Duke University and North Carolina Central University in the City of Durham and North Carolina State University in the City of Raleigh.The proximity of these uni- versities makes the Research Triangle area well-suited to many types of research activities. The Research Triangle Park (the 'Park"), Iocated 10 miles east of the County, contains 7,000 acres of land which has been reserved for research and research-oriented manufacturing. Since its inception in the 1950'x, over 170 private and governmental organizations have located facilities in the Park. According to the Research Triangle Foundation, the Park represents a capital investment exceeding $2.8 billion.Approximately 42,000 people (52,000 including contract employees)were em- ployed at the Park with an annual payroll of approximately$2.7 billion with an average salary of $56,000. Approximately 80°x6 of the employees in the Park work for multinational corporations. Be- 6