The City of Concord is one of the fastest growing cities in the state and region, according to new data released by the U.S. Census Bureau. Concord’s strong economic growth, low tax rate, and high-quality education and health care continue to attract record numbers of new businesses and families to lay down roots in the city known for its high-performance living.
The city’s population grew a staggering 33.1%, to 105,240, over the last decade – marking the first time Concord has broken into North Carolina’s Top Ten list of largest cities.
“We are not content to be a bedroom community of Charlotte; we are creating our own jobs and places for people to live, work, and play without having to leave town,” said City Manager Lloyd Payne. “The recent Census numbers affirm we are on the right track with individuals and families recognizing the high quality of place we are creating here in Concord.”
Companies also see the value of doing business in Concord. Recently, Red Bull, Ball Corporation and Rauch North America announced plans to open a new beverage production hub at The Grounds at Concord, site of the former Philip Morris plant. Together, the three companies are investing more than $1 billion in the local economy and will create more than 600 high quality jobs with an overall wage of $57,393, well above the Cabarrus County average of $41,255.
With historic economic development and population growth taking place across the city, members of City Council and City leaders are focused on creating diverse recreational and housing opportunities for residents.
In Downtown Concord, elected officials from the City of Concord and Cabarrus County broke ground on Thursday on three new residential and mixed-use properties representing an estimated $70 million private investment in Concord’s historic downtown district. Once complete, the Novi projects will create new residential, dining and shopping opportunities for residents.
The city is also prioritizing enhancements to its public parks and greenways by setting aside one cent of the tax rate, or roughly $1.41 million, for parks and recreation projects to improve existing facilities and outdoor recreation opportunities. An additional one cent of the tax is designated for affordable and workforce housing to meet demand and keep pace with the city’s growth.
“The amount of growth we are seeing is truly incredible,” said Payne. “We are fortunate to have the opportunities that we do today and we will continue to emphasize quality growth – balancing history and progress to create the best quality of place to live and work, and not just in North Carolina but across the United States.”