Laserfiche WebLink
Cabarrus County Area Analysis 6 <br />Economic Analysis <br />Cabarrus County Area Analysis <br />Cabarrus County is located in southern North Carolina. The county is approximately 362 square miles <br />in size and has a population density of 513 persons per square mile. Cabarrus County is part of the <br />Charlotte- Gastonia -Rock Hill, NC -SC Metropolitan Statistical Area, hereinafter called the Charlotte <br />MSA, as defined by the U.S. Office of Management and Budget. <br />Population <br />Cabarrus County has an estimated 2013 population of 185,526, which represents an average annual <br />1.4% increase over the 2010 census of 178,011. Cabarrus County added an average of 2,505 residents <br />per year over the 2010 -2013 period, and its annual growth rate exceeded the State of North Carolina <br />rate of 0.9 %. <br />Population Trends <br />Population Compound Ann. %Chng <br />2010 Census 2013 Est. 2018 Est. 2010-2013 2013-2018 <br />Cabarrus County, NC 178,011 185,526 197,594 1.4% 1.3% <br />North Carolina 9,535,483 9,796,936 10,251,127 0.9% 0.9% <br />Source: Claritas <br />Looking forward, Cabarrus County's population is projected to increase at a 1.3% annual rate from <br />2013 -2018, equivalent to the addition of an average of 2,414 residents per year. Cabarrus County's <br />growth rate is expected to exceed that of North Carolina, which is projected to be 0.9 %. <br />Employment <br />Trends in employment are a key indicator of economic health and strongly correlate with real estate <br />demand. Total employment in Cabarrus County is currently estimated at 63,527 jobs. Between year- <br />end 2002 and the present, employment rose by 5,293 jobs, equivalent to a 9.1% increase over the <br />entire period. There were gains in employment in six out of the past ten years despite two national <br />economic downturns during this time. Job growth in Cabarrus County turned positive in 2011 and has <br />remained so. <br />Cabarrus County's rate of employment growth over the last decade surpassed that of North Carolina, <br />which experienced an increase in employment of 4.1% or 154,509 jobs over this period. Employment <br />data is shown in the table that follows. <br />The Glenn Center <br />irr <br />Attachment number 1 <br />H -5 Page 339 <br />