How are we doing? – Economy a priority

[Editor’s note: The N.C. Progress Board, a group created by state lawmakers to track trends in North Carolina and set goals for the state, issued its first report in December 2001.

[Each week, the Philanthropy Journal spotlights an issue examined in the report. The goals, targets and analysis below are those of the Progress Board.]

GOAL: North Carolina promotes dynamic, diverse and sustainable economic growth across all regions and demographic groups.

Economic growth can be measured in many ways:

State Gross Product measure reflects the value of all goods and services produced in the state.

Steady and sustainable growth in the State Gross Product reflects long-term economic growth.

Net business start ratio refers to the number of business starts relative to business closings.

A high net business start ratio indicates short-term economic vitality.

Employment: Rates of job growth and unemployment reflect the quantity of job opportunities available.

Per capita personal income reflects the quality of job opportunities compared to the rest of the U.S.

Per-capita income of 110 percent of the U.S. level is an indicator of relative economic prosperity, business growth and high wage jobs.

Economic data also should be analyzed to measure equity between rural and urban areas, the majority white population and minorities, and men and women.

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