Greensboro Economy Continues To Rise, But Challenges Remain

A report released Tuesday by the City of Greensboro suggests the Gate City's economy is continuing to improve. But the data also illustrate the challenges that remain.

In many ways, Greensboro's economy appears to be expanding, at least according to the city's new Growth and Development Trends report.

In 2015, the city's poverty rate dropped several points – from 19.6 percent to 16.2 percent. That's easily the lowest in the Piedmont Triad: Winston-Salem dropped to 22.5 percent, while High Point hit 24.7 percent.

Median earnings also rose in Greensboro by $1,000 per worker.

The report also suggests the Gate City is building again. The number of development plans submitted to the city is up sharply, near pre-recession levels.

But City Planning Director Sue Schwartz says leaders need to keep an eye on Greensboro's aging population. Since 2010, there's been an uptick in residents over 65 years old. At the same time, the millennial population has been shrinking.

That combination could have big implications down the road for the city's tax base and workforce if the trend doesn't turn around.