Durham, N.C. - The Durham County Economic Development Department has issued the County's first-ever Business Recruitment Program Impact Report. The report highlights the progress of companies recruited to Durham County using performance-based incentive agreements and other public investments.

"I am thrilled to be able to showcase the tremendous progress Durham County is making in our business recruitment efforts," said Durham County Manager Dr. Kimberly J. Sowell. "We and our partners have been able to recruit some of the most successful companies in the world and bring them right here to Durham County. Of the many benefits that recruited companies bring to the community, I will highlight that they pay great wages, have entry level career pathways for existing residents, and actively work to cultivate a more inclusive local economy. We hope that the report demonstrates not only the success of the program, but the quality of companies recruited as well."

Key highlights from the report include:

The program supports a projected $2.9 billion in private investment and 6,000 jobs in Durham County.

Nearly half of the announced new jobs created are entry-level positions that exceed living wage standards, offer great benefits, and provide career advancement in a meaningful field.

For every $1 that the County has invested under its Incentive Policy, the County has received $633.12 in taxable investment.

In 2021, recruited companies spent $72 million with minority and women-owned businesses.

In 2021, recruited companies exceed capital investment targets by $336 million and job targets by 959 jobs.

Note: Overall portfolio summary data is current as of June 30, 2023; aggregate annual data is current as of the most recently completed and analyzed performance year (2021).

"I am pleased to share our inaugural report highlighting the impact of Durham County's Business Recruitment Program," said Economic Development Director Andrew Miracle. "We are fortunate to partner with companies that do critically important work like creating life-saving vaccines, producing drugs that improve people's health, and innovating the clean tech industry. At the same time, these partnerships allow us to advance a number of the County's strategic and workforce priorities. While the revised policy is demonstrating early results as seen in the report, the business recruitment program aims to strengthen Durham's economy for years to come."

In 2020, the Durham County Board of Commissioners unanimously approved the County's Business Recruitment Policy that sought to better align the business recruitment program with the County's broader organizational priorities. In addition to satisfying capital investment or job creation thresholds, the County seeks to recruit companies that prioritize workforce development partnerships, as well as County priorities like contracting with Minority and Women-owned Business Enterprises (MWBE), sustainability, and Transportation Demand Management. The policy also made administrative refinements such as stipulating that every award payment be offset by twice as much new revenue generated from the capital investment.

Questions about the Impact Report should be directed to Matthew Filter, Economic Development Manager, at mfilter@dconc.gov or (984) 327-5419.