2019 Comprehensive Annual Financial Report (CAFR)

Several of the area colleges and universities are also experiencing significant capital construction . In 2016, NC A&T State University (A&T) and UNC Greensboro (UNCG) were together approved by North Carolina voters for $195 Million in Connect NC Bond funding. Following the opening of its $90 million newly constructed 150,000 square-foot student center, A&T is investing $90 million for construction of a new 130,000 square-foot, four-story Engineering Research and Innovation Complex (ERIC). A&T began the bidding process for the construction of ERIC in April 2019. UNCG is in the construction phase of a new $105 million, five-story Nursing and Instructional building with occupancy expected by spring 2021. UNCG has completed a new $51 million student residence hall as the final piece of its Spartan Village student housing development. The mixed-use project includes retail space and pedestrian walkways connecting residence halls and the Kaplan Center for Wellness. At GTCC, $34 million in renovations for the new Center for Advanced Manufacturing has now been completed. The school’s transportation and welding programs will be located in the 250,000 square- foot building and will include a flex lab for use by companies for employee training. Overall, the Piedmont Triad region received $355 million in funding from the $2 billion state bond package, approved in March 2016. Since September 2014, A&T has ranked number one as the largest historically black college and university in the country. Fall 2019 enrollment numbers place A&T at more than 12,500 students, an increase of 3.4% over the 2018-19 academic year and 1,831 students or 17% since 2014. Much of the increase in enrollment numbers can be attributed to the institution’s newly revised strategic plan, A&T Preeminence: Taking the Momentum to 2023. The plan sets an enrollment goal of 14,000 students by its conclusion.

The Greensboro area economy remained stable. The Gross Metropolitan Product (GMP), measuring the total output of goods and services ranked the Greensboro/High Point metro in the top 20% nationally with total GMP of $41.5 billion, up 17.5% in the past five years (U.S. Bureau of Economic Analysis). Since 2010, the Greensboro unemployment rate has decreased by 57%, from 10.1% in 2010 to 4.3% in June 2019. The national average unemployment rate for June was 3.7%. (U.S. Bureau of Labor Statistics) The most recent Census Bureau data indicates that Median Household Income in Greensboro was $45,787, an 11.3% increase over the past five years from $41,150. (U.S. Census Bureau)

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