Greensboro NC Jobs Future Looks Outside of the US

Greensboro business is going global

Image Source: Flickr User Charles Smith

North Carolina unemployment news shows that the unemployment rate is stagnant and, what’s worse, more people were jobless in August 2015 than August 2014. Greensboro, North Carolina business and civic leaders are taking steps to combat the sluggish economic recovery by thinking globally. Here’s a look at Greensboro’s new jobs strategy.

Greensboro Is Home to Foreign Born and Foreign Firms

Greensboro has a diverse population, unlike any other North Carolina city. In fact, 11% of Greensboro’s citizens were born outside the US. And even those not born internationally are employed that way. In the private sector, 9% of Greensboro workers (more than 27,000 jobs) work for foreign companies. This makes Greensboro second in the rankings of cities, percentage-wise, with high employment for international firms.

Greensboro’s foreign companies are concentrated in pharmaceuticals, automotive, grocery stores, semiconductors and chemicals. The foreign presence in the city is a boon for wager-earners. According to the Bureau of Economic Analysis, foreign-owned firms pay more, by 28% on average. And now Greensboro is developing a program to lure even more foreign employers into the city and to educate workers on how to work with foreign employers.

Greensboro Global Opportunities Center

Greensboro area universities and colleges won first place in the Strong Cities, Strong Communities Challenge from the US Economic Development Administration. The prize was $500,000 to seed the Global Opportunities Center intended to connect students and businesses to international opportunities. The group still needs to raise another $2 million to set up shop in downtown Greensboro in an initiative they hope will create close to 1,700 jobs and nearly $50 million in tax revenue.

The global center plans to:

• Offer workshops and seminars for small to mid-sized businesses to show them how to export or expand globally
• Attract more global firms to Greensboro to do business
• Help local students pursue international business careers
• Serve as a global chamber of commerce

Bryan Toney, UNC at Greensboro Associate Vice Chancellor for economic development and corporate engagement, says of the proposed center, “I think of it as the one-stop shop for anything global. There’s never been a center like this that’s been done in the US, and it’s something that could be replicated in other places.”

Hope for Greensboro Consumers

If you’re a Greensboro resident or live anywhere in the Greensboro metro area, you may be able to benefit from the global jobs boom that’s kicking off in the city. But it can be hard to enjoy the economic outcome of a new job opportunity if you’re still stuck in a financial mess from the past. The recession hit Greensboro hard, and many consumers had to cope with foreclosures, repossessions and bills they couldn’t pay which still affect them, even as the economy recovers.

To make the most of a new job or a promotion shed the financial problems the past. But how? For many Greensboro consumers, exploring a well-timed North Carolina bankruptcy may be the answer. You don’t have to be scraping the bottom of the barrel to enjoy the benefits of bankruptcy – you just need to have debts you can’t afford to pay and a better hope for your future. Chapter 7 bankruptcy can clear out accounts in collections and put an end to debt collectors harassing you at home and work.

Chapter 13 bankruptcy can give you time to get caught up on your mortgage or car loan so you can save your equity and move forward with a clean slate. If you’re stuck with debts you can’t pay and want a brighter financial future, contact the Law Offices of John T. Orcutt to talk with a North Carolina bankruptcy export. Call (code) for a free consultation at our offices in (code). We want Greensboro families to enjoy financial freedom and have the peace of mind they deserve.