2025 Annual Comprehensive Report

investment. GTA is expanding its services, anticipating fixed-route ridership to grow to 2.36 million and paratransit to 177,000 riders. Major facility investments are underway including garage improvements and trail connectivity that will make Greensboro more accessible and livable for all. Housing remains one of the City’s most pressing challenges, and one of the greatest opportunities. This year’s budget reflects the continued focus on ensuring growing demand is met for the attainability of housing and the stabilization of neighborhoods. The City is sustaining its investment in housing bonds with the implementation of the Housing GSO Plan through the Nussbaum Fund, and leveraging American Rescue Plan funds to stabilize neighborhoods and deliver critical services. These tools support the expansion of shelter capacity, build permanent supportive housing, and offer services that connect people to housing, employment, and care. The City coordinates closely with Guilford County and nonprofit partners to strengthen the homeless services system. This includes investments in street outreach, case management, and a coordinated entry process that helps ensure people in crisis can get timely, appropriate assistance. Additionally, new strategies are being developed to preserve affordable housing stock, support first-time homebuyers, and incentivize development in areas aligned with transit and employment. Promoting Economic Development - Greensboro continues to grow as a destination for investment and innovation, evidenced by growth in both commercial and residential permitting activity; clear signs of investor confidence and population growth. In response, this year’s budget reinforces the City’s commitment to managing that growth strategically, with a focus on housing, infrastructure, and equitable economic opportunity. The City is advancing the “Road to 10,000” housing initiative, which aims to bring 10,000 new housing units to market in the coming years, prioritizing affordability, accessibility, and location near jobs, schools, and transit. This budget also supports infill revitalization efforts that restore life to underutilized parcels within existing neighborhoods, helping to combat blight, reduce infrastructure strain, and promote walkability. At the same time, accelerating corridor redevelopment projects targeting investments that will not only improve transportation access and visual appeal, but also attract private development and strengthen the city’s long-term tax base. Economic development is not only about buildings, it’s about people. The City continues to work closely with our partner agencies to foster job creation and entrepreneurship, particularly for young people and historically underrepresented communities. This budget includes targeted investments in workforce development, focusing on training and pathways into careers with the generational investments seen in recent years. It also emphasizes support for small businesses, including technical assistance, access to capital, and expanded outreach to minority and women-owned enterprises. FACTORS AFFECTING FINANCIAL CONDITION A. Local Economy Greensboro's diverse economy is attributed to its unique blend of trade, manufacturing and service businesses as well as its universities and colleges. Local industry is characterized by the production of a wide range of products, including aircraft, machinery, electronics equipment, textiles, apparel and tobacco, and expansion in the aircraft maintenance, transportation, and financial services industries. Six of the top 51 companies on the Fortune 500 list have operations in the Greensboro area; these include UnitedHealth Group, AT&T, Amazon, UPS, FedEx, and Procter & Gamble. The Greensboro-High Point metropolitan area ranked in the top ten nationally for 12 of the 13 years spanning 2012 through 2024 for regions with populations of 200,000 to 1 million by Site Selection magazine for metro areas enriched by corporate capital investment. The ranking is based on the number of projects with capital investments of at least $1 million, related floor-space expansion, and the number of new jobs created. Located at the center of North Carolina and the midpoint of the East Coast, Greensboro is strategically positioned at the hub of a dynamic region for major transportation, logistics, manufacturing and service industries. In addition, half of the U.S. population is within 650 miles (1,046 km.), another major advantage. With the significant presence of FedEx and Honda Aircraft, the region continues to build on the strengths of its geographic location positioning the Triad as a global “aerotropolis” and logistics center on the U.S. East Coast.

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