A Publication of the Randolph County Economic Development Corporation
May 2025
Randolph Second Chance Hiring Event
NC Works Career Center of Randolph County will be partnering with Randolph Correctional Center to host a Second Chance Hiring Fair inside the correctional facility for those individuals that will be released in the very near future. It will also give those that haven't spoken with employers in some time, a chance to get some pointers and advice on how to apply for positions upon their release.
We want to erase the stigma of hiring individuals with a criminal history. This is one of the largest untapped populations when it comes to the workforce. We understand that there are company policies that you may not be able to get around, and that's okay, but if your hands aren't tied, we ask that you give them a chance. Please do not hesitate to reach out with any questions or concerns.
June 26, 2025 9am-12pm at Randolph Correctional Facility, 2760 US 220 BUS.
Asheboro, NC 27205
Reminder-Ultracraft Hiring Event in Liberty
NC Works will be holding a Rapid Response Hiring Event for those workers that are going to be laid off from Masterbrand (Ultracraft) beginning in May. The company is not slated to shut its doors until September. We are looking at roughly 250 employees total over a four month period.
The event will be on Friday June 6, 2025 at Masterbrand in Liberty. It will run from 8am-12pm. If you are able to provide your own table and chairs, please do so. The facility will provide some, but likely won't have enough for everyone.
While no one can say for sure, sound advice would be to begin now to drill down on supply chain diversification and not expect any future deal with China to hold.
The webinar recap linked in the title contains good advice but I think a new mindset will need to occur across the supply chain landscape.
As a result of numerous Trump administration actions, the average US tariff on all goods imports from the rest of the world increased from 3.0 percent to 11.7 percent between January 20, 2025, and May 3. This includes the 10 percent tariff imposed on April 5 that did not simply increase the average tariff by 10 percentage points due to sectoral carveouts.
he country-by-country tariff pause could be an opportunity for businesses to evaluate the impact of those new import taxes, and to prepare for what’s to come.
President Donald Trump and China agreed to temporarily lower tariffs, but the administration’s policies are still likely to boost inflation and weigh on economic growth, said Federal Reserve Gov. Adriana Kugler, according to a report by Bloomberg.
“Trade policies are evolving and are likely to continue shifting, even as recently as this morning,” Kugler said Monday in remarks prepared for an event today in Dublin. “Still, they appear likely to generate significant economic effects even if tariffs stay close to the currently announced levels.”
Economic activity in the manufacturing sector contracted in April for the second month in a row, following a two-month expansion preceded by 26 straight months of contraction, say the nation's supply executives in the latest Manufacturing ISM®Report On Business®
New Orders and Backlogs Contracting Production and Employment Contracting Supplier Deliveries Slowing Raw Materials Inventories Growing; Customers’ Inventories Too Low Prices Increasing; Exports and Imports Contracting
Community Colleges and Workforce Training in the Criminal Justice System
The direct costs of incarceration are high. With almost 2 million people currently behind bars in the United States, the Prison Policy Initiative estimates that after accounting for housing, health care, policing, and other expenses, the total annual system cost comes out to at least $182 billion. A 2023 report by the Vera Institute of Justice, a criminal justice reform advocacy organization, found that participating in prison-based college education could reduce recidivism rates by 66 percent, and a 2019 Vera report estimated that increasing education access could collectively save states over $365 million annually.
Triad dominates NC's hottest housing markets with 21 of top 50 ZIP codes in Q1 2025:
The Triad was the hottest housing region in North Carolina in the first quarter of 2025, with 21 of the state's hottest markets located in the region.
That's according to The Business Journals' first-quarter analysis of the country’s hottest housing markets based on quarterly listing and sales data from Intercontinental Exchange.
Maximizing Employment: Understanding Labor Force Participation:
The next installment in our District Dialogues event series—which brings together subject matter experts, business and community leaders, and Richmond Fed economists to dialogue on top economic topics facing our region—will dig into national, regional, and state labor market data to discuss the crucial role labor force participation plays in economic growth and stability and why it can vary across different geographies and sectors of the economy.
Hedging the Tariffs' War: How Machine Manufacturers Can Keep Up
Trade tariffs, especially those put in place during the first Trump administration, have affected the global industrial manufacturing industry. Tariffs on steel, aluminum, and important machine parts have led to higher costs, problems with the supply chain, and pricing challenges for businesses around the world. These import tariffs are not a one-time thing related to the Trump presidency, but an ongoing issue. Let's look at what we learned from the first "Tariff Wars", what might happen with the new trade barriers, and how machine manufacturers can adapt to stay competitive.
Greensboro, High Point losing ground on affordable housing, Realtors' study finds:
Greensboro and High Point are losing ground on their supply of housing affordability, according to a recent study from the National Association of Realtors.
The study, which looked at gaps in housing inventory by price range and income levels in metro areas across the country, found that the Greensboro-High Point metro area has a shortage of affordable homes across almost all income levels.
Many buyers, especially in households considered lower-income, are being priced of the market, the study found.
A next-generation jet manufacturer backed by Alaska Airlines is eyeing North Carolina for an expansion that could mean thousands of jobs.
JetZero, based in Long Beach, California, is considering Greensboro’s Piedmont Triad International Airport for a major manufacturing operation that could bring more than 10,000 jobs to the region, sources close to the situation told both the Triangle Business Journal and the Triad Business Journal.
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.
If you are interested in becoming a Randolph Rises investor, please click the button below.
