North Carolina Construction News staff writer
The City of Greensboro’s planning department has released the Growth and Development Trends Report, highlighting 2022 trends.
Key findings also include:
- From 2021 to 2022, the value of all residential building permits in Greensboro decreased while the value of all commercial building permits increased by 28%.
- In each year the total value of construction activity topped over $800 million in investment in Greensboro.
- The $546 million dollars of commercial construction activity that occurred in 2022 is the highest recorded in Greensboro.
- There was a 21% decrease in the number of residential building permits issued from 2021 to 2022 and a 2% increase in commercial building permits.
- Residential permits were 71% of the total building permits issued in 2022, compared to 29% commercial.
- Greensboro’s population continues to grow at a steady rate, faster than state and national levels.
- The city annexed a record 1,570 of acres in 2022; more than twice the previous record of 727 set in 2021.
“We saw a dramatic increase in development in Greensboro in 2021. This trend continued in 2022 and actually outpaced the year before,” said planning director Sue Schwartz. “This is the growth we have been planning for.”
“Emerging from the worst of the pandemic about a year ago, Greensboro announced two major investments in our region; the Toyota automotive battery manufacturing plant and the Boom Supersonic manufacturing facility. Coupled with the Publix distribution center, thousands of new jobs are coming to our area. The term “GreensBooming” was coined to describe our new growth.”