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I (IUiI<1Idk' f "IOWIlI 1'r01- HO01 -1Y l0 11�eSe l- Valle i 1 Ill g11l 11�e&ll Profile Highlights The region is undergoing a major demographic shift The Research Triangle is a growing region whose demographics are quickly diversifying. Since 1980, its population has more than doubled, from 900,000 to over 2 million. During the same time period, the share of residents who are people of color has risen from 29 to 39 percent. By 2044, when the nation is projected to become majority people of color, more than 50 percent of the region's population will be people of color. Communities of color — especially Latinos, Asians, and people of mixed racial backgrounds — are driving population growth and contributed 56 percent of net population growth over the last decade. Latinos were the fastest growing group, increasing 127 percent and gaining nearly 120,000 residents, followed by Asians, with a 107 percent growth rate and net gain of more than 38,000 residents. The region's large Black population will remain about a fourth of the population for the foreseeable future. The region's demographic shift is taking place throughout all of its 13 counties. By 2040, five counties will be majority people of 11 he -r share of l:re ol:rle -r of color Is l:)roje -rc Ie d Lo Increase 0—irough 2040 Wi yl irik Baru{ P1 1�1 3 color, and every county except for Moore County will be at least one -third people of color. Youth are at the forefront of the region's changing demographics, and the Research Triangle's young residents are much more diverse than its seniors. Today, 48 percent of youth are people of color, compared with 23 percent of seniors. This 25 percentage point racial generation gap between young and old has risen very quickly, nearly tripling since 1980. This gap presents a potential economic risk for the region because a large racial generation gap often corresponds with lower investments in the educational systems and community infrastructure needed to support the economic participation of youth.z Stronger and more inclusive growth is the key to the region's future prosperity The Research Triangle region has struggled to recover from the Great Recession, and while its GDP and job growth are comparable to national averages, it is growing at less than half its pre- recession rate. Additionally, growth seems to be occurring unequally throughout the region and has been concentrated in the metropolitan areas of Raleigh -Cary and Racial /Ethnic Composition, 1980 -2040 U.S. % White Other 1 % 1 % 0 2% 3% 4% 5% IIIIIIIIIII Native American 27% 25 % 6% 4% 10% 5% 6% % 7 7% Asian /Pacific Islander 24% 11% 1 2% 11111111 Latino 23% ill Black 24% 25% „White 71% 72 °� 26% 66 %ra 61% 58% 1111111111151% 0 ._r 1990 2000 2010 2020 2030 2040 Sources: U.S. Census Bureau; Woods & Poole Economics, Inc. Projectedl