Agenda - 05-15-1990 (2) - Laserfiche WebLink

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4) Many post -war "baby boom" children reaching driving age in the sixties requiring more transportation. (more drivers as a percentage of the total population) Since the early 1970's, these reasons for purchasing more automobiles have had less influence and have led to the expec- tation that the persons per vehicle rate will begin to stabilize as projected in Figure 3. This saturation effect is expected to stabilize trip - making characteristics for families in the middle and upper income categories due to the fact that they already have the financial means to purchase a sufficient number of vehicles to satisfy their transportation needs. On the other hand, moderate growth in the trip - making characteristics of lower income families is projected due to an expected improvement in their financial well - being. vehicle registration in North Carolina has risen from 2,742,673 in 1970 to 3,896,544 in 1980, an increase of 42 %. See Table 2. ECONOMIC AND EMPLOYMENT TRENDS The number of persons residing in any given area is a direct function of jobs available in that area. A decision by a large firm to build an industrial plant employing several hundred people would have an abrupt impact on an area's economy by instan- taneously creating a reason for people to move into the area because of enhanced job opportunities. Secondary spinoffs of such a decision would include: an increased demand for new housing and services; increased retail sales and bank deposits; and increased school enrollment and increased traffic as well as other benefits and costs associated with urban population growth. The economic character of Hillsborough is strongly influenced by the presence of the transportation corridor formed by Inter- state 85, US Highway 70 and the Southern Railroad line. The section located to the south of Interstate 85 is influenced to some degree by the urbanizing area of Chapel Hill and Carrboro due to the presence of both Old NC 86 and new NC 86 which provide a transportation link between the areas. The level of influence has been increased by the Interstate 40 extension through Orange County. Access to Chapel Hill and Carrboro, as well as to the Research Triangle Park, has been upgraded, perhaps contributing to an increase in the perception of Hillsborough as an attractive residential area for commuters to these employment centers. The current economic base for Hillsborough consists of manu- facturing, agriculture, and public sector ment, including education, medical-hospital and county government 1 -8