Orange County NC Website
Browse       Search
40 <br /> Orange County has experienced sustained economic growth over the past few decades, driven by a <br /> diverse and highly skilled workforce.The county is home to major employers that require well- <br /> educated employees, including UNC-Chapel Hill, UNC Health Care, and two local school districts, <br /> which collectively employ a significant portion of residents. Educational services, and healthcare <br /> and social assistance remain the county's largest employment sectors, reinforcing demand for a <br /> highly educated workforce,with 62%of residents older than 25 holding a bachelor's degree or <br /> higher. <br /> At the same time,the county's economy is supported by a robust retail and service industry,which <br /> caters to both the local population and the university community.These businesses rely on a <br /> workforce with varied educational backgrounds, providing opportunities for workers with lower <br /> formal educational attainment.As a result, Orange County benefits from a balanced economic <br /> Landscape, combining high-skilled industries with a thriving service sector that supports its growing <br /> and diverse population. <br /> Based on the Business Activity table above,what are the major employment sectors within <br /> your jurisdiction? <br /> The largest employment sectors for Orange County are educational services (29.0%) and <br /> healthcare and social assistance (24.8%).The county's strong emphasis on education ensures a <br /> well-qualified labor force to support these critical industries. <br /> Describe the workforce and infrastructure needs of the business community: <br /> The three economic sectors with the greatest workforce shortages relative to available jobs in <br /> Orange County are education and healthcare services, other services, and retail trade.These <br /> industries are critical to the local economy,yet they face persistent hiring challenges.As <br /> highlighted throughout this plan, Orange County's shortage of affordable housing continues to be a <br /> significant barrier for workers in these sectors.The high cost of housing limits the ability of <br /> educators, healthcare workers, service employees, and retail staff to live within the community <br /> they serve,further exacerbating workforce shortages.Addressing housing affordability will be <br /> essential to ensuring a stable and sustainable workforce for these key industries. <br /> Describe any major changes that may have an economic impact,such as planned local or <br /> regional public or private sector investments or initiatives that have affected or may affect job <br /> and business growth opportunities during the planning period. Describe any needs for <br /> workforce development, business support or infrastructure these changes may create. <br /> The Triangle Region continues to experience robust economic development,with global tech giants <br /> Like Meta and Google expanding their footprint in the area.These companies are drawn to the <br /> region's exceptional talent pool, bolstered by the high educational attainment of its residents and <br /> proximity to leading institutions such as the University of North Carolina at Chapel Hill(UNC), Duke <br /> University, and North Carolina State University.The Triangle's reputation as a hub for innovation, <br /> research, and cutting-edge industries positions it as a magnet for firms seeking to grow or establish <br /> operations in a thriving, knowledge-driven economy. <br /> 37 <br />