It's a time of great geopolitical uncertainty. Not because there's imminent conflict between the two biggest powers, the United States and China—that isn't even a top risk, it's a red herring this year. There's not (yet, at least) a second Cold War, with a rising China remaking the global system to its own liking, the Americans and allies resisting. Nor do tensions between the United States and Russia threaten to spiral out of control despite a war raging in Europe, the result of Vladimir Putin's longstanding grievances against the US-led order.
The United States is itself unwinding its own global order. The world's most powerful country is in the throes of a political revolution.
Annual Wage Survey-Please Participate
Each year we conduct a wage survey so everyone can get a sense around pay scale, demographics, and other labor market trends specifically for Randolph County. Once completed and analyzed an executive summary will be provided to all.
Armen Living, a manufacturer of indoor and outdoor furniture, expanded its portfolio with the acquisition of Uwharrie Chair Company, a High Point, North Carolina-based maker of outdoor furniture.
“We are excited to share the news of our purchase of the Uwharrie Chair Company, and to grow the Armen Living family by joining forces with their team,“said Kevin Kevonian, owner, president, and CEO. “This change in ownership will unlock limitless possibilities in design and add significant fuel to the future growth of their company. Providing new resources to their business and expanding their customer base, which will preserve the company’s legacy of manufacturing beautifully made outdoor furniture that resonates with trade buyers and designers all across the country.“
Richmond Fed Economic Snapshot for North Carolina
"North Carolina labor market conditions softened in November as payroll gains were partially offset by a notable decline in health care employment. The unemployment rate also increased slightly." – Bethany Greene
Total payroll employment in North Carolina increased by 3,300 jobs (0.1 percent), on net, during the month. Most job gains came from construction (1,900 jobs), professional and business services (1,600 jobs) and leisure and hospitality (1,600 jobs). These job gains were partially offset by a significant decline in education and health services employment (3,400 jobs), the first decline in over three years.
On an annual basis, payroll employment increased by 87,900 jobs (1.7 percent). Yearly job growth was led by professional and business services (20,100 jobs), education and health services (19,000 jobs), and leisure and hospitality (14,800 jobs). However, manufacturing employment declined by 5,700, and the information sector lost 1000 jobs on a yearly basis.
The unemployment rate in North Carolina ticked up slightly by 0.1 percentage point to 3.8 percent between September and November. (October data is not available.
The Made in America Manufacturing Initiative commits to a deeper collaboration and coordination of federal agency resources designed to:
Increase access to capital Improve opportunities for public and private investments in support of manufacturing in America Help small businesses export their products on a global scale
The SBA has launched a new revolving credit loan program for MANUFACTURING. Here's who can apply.
The Small Business Administration has begun approving loans under its new 7(a) Manufacturers’ Access to Revolving Credit program.
The agency on Wednesday announced it had approved $3.5 million in loans to four manufacturers, stressing the program was the first type of loan offering dedicated to manufacturers.
The program was introduced just before the record-breaking federal-government shutdown this fall.
“SBA’s new MARC Loan is designed to help manufacturers access needed working capital to meet the rising demand for Made in America,” said SBA Administrator Kelly Loeffler in a statement. “With several MARC loans already deployed, we are seeing immediate results. These loans support real factories, real workers, and real growth — and we encourage manufacturers nationwide to take advantage of this program to expand, modernize, and reshore American industrial dominance.”
Local News and Announcements
Randolph County Unemployment Bumps Up:
Randolph County’s unemployment rate in November increased from September but remained at a level reflecting a healthy job market.
The county jobless rate was 4.1% in November, up from 3.6% in September, according to the N.C. Department of Commerce. It’s also up compared to the 3.5% rate recorded in November 2024.
There was no October rate because the government shutdown prevented the numbers from being compiled.
But the unemployment level remained below the 5% mark that historically reflects a healthy job market.
In November, the Randolph County labor force was 66,832 people with 2,729 listed as out of work.
A company that owns a concrete plant in Asheboro and one under construction in Mebane has changed hands in a sale.
Hardrock Ready Mix announced Monday that it had acquired Piedmont Ready Mix from VL Concrete Inc., a company owned by Victor Lopez.
The Asheboro facility will continue operations under Hardrock Ready Mix ownership, while construction of the Mebane plant will proceed as planned, according to a press release. Hardrock Ready Mix plans to integrate Piedmont’s operations and team members into its existing organization.
The acquisition expands Hardrock Ready Mix’s footprint in central North Carolina and strengthens its ability to serve customers across the region, Drew Boggs, president and chief executive officer of Hardrock Ready Mix, said in the press release.
Council approves requested extension for StarPet grant requirement:
ASHEBORO — As part of its consent agenda during its January monthly meeting, the Asheboro City Council approved a request by Starpet to grant it a one-year extension to make good on a grant condition that helped pay for an expansion project.
A letter from Saswati Biswas, Chief Financial Officer for Indorama, owner of StarPet Inc., outlining the request was part of the agenda materials for the Jan. 8 meeting. In it, he detailed a situation that illustrates problems employers are facing in an uncertain job market:
“This expansion required a 44,000 square foot addition to the current facility. As part of the project, Starpet agreed to create eleven new jobs and was awarded a $100,000 Building Reuse Grant. Despite its best efforts, Starpet has been unable to hire eleven new positions for the reasons set forth below and requests a one-year extension to meet this commitment.
DAVIDSON COUNTY, N.C. (WGHP) — County leaders say this time next year, they’ll be close to opening a brand-new sports complex.
What is currently hundreds of acres of land will soon be home to the $65 million Davidson County Sports Complex.
On Friday, Davidson County Parks and Recreation Director Thomas Marshburn gave us a sneak peek of where the project will be built, directly behind Southmont Elementary School off NC 8 and Owens Road.
“We’re shooting to open the aquatic center Memorial Day 2027. It’s a pretty quick turnaround. You’ll see this dirt get turned around pretty quick. We’ll have that open by Memorial Day and then all the other athletic fields will be complete soon after that as well,” Marshburn said.
RCC offering free one-on-one help to navigate paying for college:
Randolph Community College will host a free FAFSA Evening on Tuesday, Jan. 27, from 4 to 7 p.m. in rooms 106 and 108 of the Continuing Education and Industrial Center on the Asheboro Campus — because paying for college can feel overwhelming, especially for students and families who aren’t sure where to start.
Hosted by RCC’s Office of Financial Assistance and Engagement, the free event is open to the public and recommended for high school seniors, current college students, adult learners and families.
One-on-one support from financial aid experts will help attendees understand how to fund college — whether they plan to attend RCC or another institution.
“This event is about access — access to information, expert guidance, and opportunity,” President/CEO Dr. Shah Ardalan said.
“By offering free, one-on-one help, we are making it easier for students, families and adult learners to discover resources to pay for college and take the next step with confidence.”
Sale of Asheboro storage facility tops commercial transactions for week of Jan. 16:
The $2.9 million sale of a self-storage facility in Asheboro was the top commercial transaction in the Triad collected the week of Jan. 16.
Barry Betts sold the Best Betts storage facility on Dixie Dr. to an entity associated with Randolph Storage, also located in Asheboro. The storage facility has two buildings — one that is 44,000 square feet and another that is 50,000 square feet, according to Betts’ Linked In.
In the week's second-largest sale, an Ohio investor bought the Tire Discounters property at 2100 E. Cone Blvd. in Greensboro for $2.24 million.
Many U.S. CNC shops are focused on legacy markets like automotive and aerospace, overlooking high-growth sectors such as med-tech and renewable energy.
Emerging industries demand high-precision, flexible manufacturing solutions, often in small batches with complex materials like composites and thermoplastics.
Success requires reassessing customer exposure, diversifying offerings, and repositioning capabilities as enablers of innovation and strategic partners.
Recent Renewals
Thank you to the companies below which recently renewed their support of the EDC and the Randolph Rises campaign. Your contribution continues to make our service, reach, and impact felt across the county.
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