Preparing for the North Carolina Research Campus

The North Carolina Research Campus is a unique project that includes the participation of major research universities and enormous investments by a single individual in state-of-the-art research facilities and equipment.

These are just some of the aspects that make the project an incredible opportunity for the Kannapolis area and the region, and create the potential for significant impacts to the local, regional, and state economy.

The City of Kannapolis retained Market Street Services, an economic and community development consulting firm based in Atlanta, Georgia, to conduct an economic impact analysis and SWOT (strengths, weaknesses, opportunities, and threats) analysis of the North Carolina Research Campus.

A few key points related to the SWOT Analysis and Impact Assessment:

• In order for the impact assessment to come to fruition, the SWOT recommendations must be fully implemented by the community and, in some cases, the region.
  
  
• The report confirms that the NCRC has the potential to be a major economic engine for our region, and provides a map for the city to follow to ensure that this happens.
  
• Various business and rating publications rank the three comparison communities very highly, including the annual “best place to live,” ranking by Money Magazine.
  
  
• This report is a reflection of our transition form textiles to biotech. While we have made great progress in many areas, it shows that we still have work to do to fully capitalize on the opportunity the NCRC brings to the region.
  
  
• Conducting the study was a critical step in validating what’s possible with the Research Campus, providing frank insight on how we compare with our competitor cities, and helping us determine what investments we need to make in the future.
  
  
• The report finds that we are quite strong in transportation, regional support for entrepreneurship, and state support for biotechnology. We have more work to do in terms of improving K-12 performance and higher education opportunities, and embracing diversity.

To download a full copy of the SWOT Analysis: Preparation for the North Carolina Research Campus, click here.

To download a full copy of the impact assessment: Estimating the Economic Impact of the North Carolina Research Campus, click here.