2025 Annual Comprehensive Report

$17 million in property tax incentives, and the City Council has approved up to $20 million in similar incentives. The distribution center will produce an estimated incremental increase in tax revenue of $19.9 million over 10 years and have an economic impact of $1.38 billion over 12 years. Publix is a privately held, employee-owned company with operations throughout the southeastern United States, including nine distribution centers. In April 2025, Cone Health opened its new $160 million Heart and Vascular Center. The 5-story, 156,000 square-foot center consolidated four practices and two clinics into one space and aims to streamline patient services. The facility features advanced technology and has 250 employees, of which 45 are new employees. In December 2024, Cone Health was acquired by Risant Health, a new charitable nonprofit formed in 2023 by California health system Kaiser Permanente. Risant pledged more than $1.7 billion to support Cone Health as well provide technological and intellectual capital while allowing Cone Health to keep its own name, brand, leadership, board, and headquarters. Between March and June 2024, Cone Health completed three land purchases totally $37.75 million for approximately 68.4 acres across Greensboro. One purchase with approximately 31.5 acres is designated for a health and wellness complex while the other two purchases were strategically acquired, including land in underserved areas. Since 2018, Cone Health has continued to improve its operating suites, emergency medical services, heart care, interventional radiology and breast care facilities. These projects ensure long–term sustainability and transform health care services for the community and add to the substantial investment Cone Health made in its North Tower project, which opened in June 2013. In 2025 and 2024, Moses H. Cone Memorial Hospital ranked fifth and sixth, respectively, for best hospital out of 14 top hospitals in North Carolina by U.S. News and World Report. Cone Health is the City’s largest employer, with over 13,000 employees. The City created the South Elm Street Redevelopment District as part of an initial $11 million redevelopment project on 10 acres of abandoned property located on the south side of town. The plan includes a collaborative teaching facility with nearby universities, mixed-use commercial, retail and residential buildings complemented with generous pedestrian plazas, passageways and sidewalks linking area buildings creating a vibrant community. One of the first developments in the district was the Union Square Campus . The fully developed project is envisioned to involve seven educational institutions and to be funded with public, private, state and federal grant contributions. The estimated long-term economic impact of this project is more than $500 million, according to a recent economic analysis study. Several of the area colleges and universities have recently experienced impactful capital projects . In March 2025, UNC Greensboro (UNCG) began construction on its $13.4 million Jeanne Tannenbaum Center for Creative Practice. This 15,000-square-foot multipurpose cultural arts facility is part of the UNCG’s Millennial Campus and will service both students and the community. Programming is scheduled to launch in fall 2026. UNCG completed its new $105 million, five-story Nursing and Instructional building which opened for faculty and students in December 2020. The 180,000-square-foot facility serves as the new, state-of-the-art home of the School of Nursing which previously was spread across four buildings around campus. Following the opening of A&T State University’s (A&T) $90 million newly constructed 150,000 square-foot student center, A&T invested $90 million for construction of a new 130,000 square-foot, four-story Engineering Research and Innovation Complex (ERIC). The complex had its grand opening in February 2022. Since September 2014, A&T has ranked number one as the nation’s largest historically black college or university (HBCU) for the twelfth consecutive year. A&T also has the nation’s largest enrollment of black undergraduates in the fields of engineering and agriculture and has the largest number of master degree graduates in mathematics and statistics among HBCUs. A&T’s ongoing plans include an enrollment goal of 15,500 students by 2030. To accommodate housing demands and rising enrollment, a four-story, 415-bed student residential complex is under construction and estimated to be complete by spring 2026. The Greensboro area economy remains stable. The Gross Metropolitan Product (GMP), measuring the total output of goods and services, was $52.9 million for the 2023 Greensboro-High Point Metropolitan Statistical Area (MSA) and accounted for 0.2% of the total U.S. metropolitan areas. (U.S. Bureau of Economic Analysis). Greensboro experienced an increase in job growth of 2.7%, representing 6,731 additional jobs compared to 2024. Total employment for 2024 was 252,451. (U.S. Census Bureau)

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