Shelby County's projected economic growth among nation's highest
March 22, 2011 at 4:19 PM CDT - Updated June 23 at 4:16 PM
By Fox 6 WBRC staff
SHELBY COUNTY, AL (WBRC) - Good news for folks who live and work in Shelby County: the county is projected to be one of the top 10 in the nation for employment growth in the next four years. Shelby County is projected to see an average annual growth rate in employment of 2.61 percent from 2011-2015, twice as much as the national average of 1.15 percent.
Woods & Poole Economics, Inc., an independent economic and demographic research firm based in Washinton, D.C., recently released the findings that put Shelby County at number eight out of 15 counties nation-wide expected to experience the most growth in the job sector.
By 2015, 10,000 jobs are expected to be added to the county, bringing in $655 million and surpassing the pre-recession employment levels.
"Shelby County has a long history of steady and stable employment growth and benefits from its proximity to Birmingham as well as its skilled and well educated labor force," said Woods & Poole economist Martin Holdrich.
The Birmingham Metropolitan Statistical Area as a whole is expected to add 29,000 jobs with an economic gain of $2.5 billion from 2011-2015.
Professional services, accommodation services and health care sectors are forecast to experience the most growth in Shelby County, with a net increase of 1,360 jobs and $91 million in the professional services sector alone.
Shelby County has a history of consistent economic growth. Before the recession, the county was one of only 16 in the U.S. that had never seen an annual net decrease in employment since 1970.