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Wake County Story

Story Highlights
  • Unemployment in Cary has dropped for the past 3 months
  • Multiple businesses are moving headquarters to Cary.




Cary’s Economy ‘Headed In The Right Direction’

Credit: AP Online

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CARY, N.C. -

There are signs Cary's economy could be on the long road to a recovery.

In February, the town's unemployment rate was at 6.5 percent, the highest it has currently gone during this recession.

The rate has since fallen to 6.2 percent and four major businesses have announced they were either expanding or moving their headquarters to Cary since January.

"Cary's an attractive location for businesses," Carolina Advanced Digital Systems President John Jabbusch said.

Recently, the small information technology company moved its headquarters from Siler City to Cary.

"It's the next step for a small business to be able to do this," Vice President Susan Jabbusch said.

In addition to being close to the airport, Jabbusch said the company picked Cary because of the large number of technology companies in the area.

"Most of the labor pool for the technical skills we need is in the triangle area," Jabbusch said.

C.A.D.'s move is the latest sign that Cary's economy might have bottomed out.

Top that with an unemployment rate in the town that is going down and Chamber of Commerce Economic Development Vice President Sandy Jordan said the signs are there for the early beginnings of a recovery.

"We're continuing to see good activity from both a recruitment and a retention stand point," Jordan said.

The news for business leaders is relatively good, but not everything is going well for the town of Cary.

Officials at Town Hall are trying to work through a budget that is 25 percent less than the one they had last year.

"We're not out of the recession," Jordan said. "Far from it, but i think we're headed in the right direction."

It's a direction C.A.D. is now a part of.

"We're very happy to be here," Jabbusch said. "Everybody's very excited and energized and i think it's going to be a good move for all of us."

 

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