Iredell Economic Development Corporation recently hosted more than 250 business leaders, elected officials, and community partners at its 2023 Annual Meeting and Five-Year Anniversary Celebration. The event touted some of the county’s biggest economic development announcements and other important milestones over the past five years.
Iredell EDC has celebrated 109 new and expanding announcements since 2018, representing $2 billion in investment, 5,394 jobs, and 16.7 million square feet. In addition, Iredell has seen significant private investment in real estate resulting in 13.2 million square feet in announced industrial product development.
As a part of their presentation, Iredell EDC released their 2023 Annual Report detailing highlights from the past year as well as metrics across the county in terms of economic development growth. Since 2018, the population in Iredell County has grown by 10% from approximately 178,000 residents to 196,000 residents. Sales tax revenue has increased by 58%, and the amount of new property tax revenue increased by 22%. The average wage in the county has increased by 35% from $47,842 (2018) to $64,433 (2023) with Iredell having the 4th highest average wage by county in the state of North Carolina.
“Our economic development position is stronger than ever,” Bob Palmes, 2021-2023 chair, said. “Our combined efforts to support existing industry, generate new investment, and market our community have positioned Iredell County as a leader in the region and state on many fronts.”
As outgoing chair, Palmes formally transitioned the leadership of the organization to the 2023-2024 chair, David Alexander, president of J.T. Alexander and Sons.
“I look forward to serving as chair of this incredible organization,” Alexander said. “We are fortunate to work in a community with public and private sector leaders who understand the importance of working together to achieve better outcomes.”
The event proved to be the largest Annual Meeting since the Iredell EDC Leadership made the strategic decision to unify economic development efforts into one county-wide organization in 2018.
