Pinehurst-Southern Pines Micropolitan ranked No. 1 in NC and No. 10 in U.S.
By Staff Report, posted Mar 4, 2024 on BizFayetteville.com
The Pinehurst-Southern Pines micropolitan not only maintained its position as the #1 micropolitan in North Carolina for the seventh year in a row, but this year it also ranked in the top 10 micropolitans in the United States, according to the 2024 Economic Strength Rankings recently released by POLICOM.
The Rankings show the Pinehurst-Southern Pines area is first out of 22 micropolitan statistical areas in North Carolina and 10th out of 543 micropolitan statistical areas in the United States. Pinehurst-Southern Pines moved up 11 places from its 2023 ranking, placing the area in the top 2 percent nationally of communities with a stable and consistently growing economy in 2024.
“Micropolitans” are statistical areas geographically defined by the U.S. Office of Management & Budget as having an urbanized area with a population of at least 10,000 but less than 50,000. They must include at least one county, and boundaries are primarily based on workforce and resident commuting patterns. The Pinehurst-Southern Pines micropolitan includes all of Moore County.
POLICOM, a Florida-based independent economic research firm, uses 23 economic factors measured over a 19-year period to analyze local and state economies annually to determine if a particular economy is growing or declining and why.
“In a world where economies constantly fluctuate and are influenced by so many variable factors, it’s extraordinary when a local economy like Moore County’s holds its place at the top year after year,” said Natalie Hawkins, President of Moore County Economic Development Partnership (MCEDP), in a press release. “I believe Moore County ranks so highly because of our consistent growth in the number of businesses, jobs and wages. We’ve seen a 28 percent wage increase in the last four years, and new business creation and expansions of the retail and construction industries suggest more money is coming into our area. Increasing wages and business expansions year over year are what make our local economy strong.”
The POLICOM report also noted that in 2023, the Office of Management & Budget announced new definitions for the statistical areas based on the 2020 census and revised commuting patterns, which resulted in changes to more than 200 areas. The 2025 Economic Strength Rankings will be based on the new definitions. To view POLICOM’s 2024 Economic Strength Rankings, visit https://policom.com/rankings-micropolitan-areas/.
Moore County Economic Development Partnership (MCEDP) is a 501c(3) not-for-profit economic development organization and public-private partnership serving all of Moore County, NC. For more information about MCEDP, visit www.moorecountyedp.org.
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