Business & Growth Wilmington is a hub of healthcare, hospitality, tourism, entrepreneurship and the film industry, with plans for continued growth and expansion.
The South Front District is full of new businesses, restaurants, work spaces, and more.
Wilmington’s growth has moved the city up on the most recent Forbes list of Best Places for Business and Careers to 30th in the country. With a median household income of $53,022 and a cost of living that is 3% below the national average, the city promotes entrepreneurship, education, and a pro-business environment. As a result, employment is solid once more as a number of major corporations call this beautiful coastal city home. The unemployment rate in Wilmington rose during the COVID-19 pandemic, as it did in most of the rest of the country. Given the environment of business and growth in the city and throughout New Hanover County, though Wilmington’s unemployment rate is bouncing back as of April 2021, now at a promising 5.5%, well below the national rate of 6.2%. The current labor force in the city is just under 150,000 individuals. Wilmington’s economic base includes a wide range of businesses and industries. Since job growth is not dependent on one industry in this area, recovery and continued increases in job opportunities are expected to continue over the next 10 years and beyond. Healthcare, hospitality and service, manufacturing, technology and construction and the film industry continue to be key players in the area’s economic stability and future progress.
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WilmingtonToday.com
HEALTH INDUSTRY DRIVES GROWTH The largest employer in the Wilmington area is Novant Health, which consists of New Hanover Regional Medical Center (NHRMC), Brunswick Community Hospital and Pender Memorial Hospital. With over 8,500 employees and a total operating revenue of over $4 billion, Novant Health’s impact on the region’s economy is enormous and continues to grow year after year. Another large employer in the healthcare field, Wilmington Health, was established in 1971 and has quickly grown to serve the area as a physician-owned primary care and multi-specialty medical practice. Wilmington Health serves the region from Southport to Jacksonville and has recently expanded in the Wilmington area with new facilities in the growing Mayfaire area, Leland area, Porters Neck and Midtown Park.
TECHNOLOGY, FINANCE, AND MANUFACTURING Industry continues to develop, strengthen, and prosper in the Wilmington area. The combination of an educated and trained workforce, temperate climate, financial incentives, readily available space and excellent transportation by water, rail, highway, and air make Wilmington a great place to build and expand technology and manufacturing facilities.
PHOTO BY MEGAN DEITZ
BUSINESS & GROWTH
Story by Pat Fontana
