A drop in median household income and lower growth rate contributed to Macon County’s more-distressed ranking in the 2023 N.C. County Tier Designations, although Macon remains comfortably in Tier Two.
The tiers “help determine a variety of state funding opportunities to assist in economic development,” the N.C. Department of Commerce states.
Macon was 75th on the distressed county listing, down from 79th last fiscal year. According to the N.C. Department of Commerce, the 40 most-distressed counties are Tier One, the next 40 counties are Tier Two and the 20 least-distressed counties are Tier Three.
“We ranked Tier Two again, which is the middle of the pack…which meant we’re one of the top 25 least distressed counties, which speaks relatively well of our local economy,” said Macon County Economic Development Commissioner Director Tommy Jenkins, “As far as Tier Two, it gives great opportunities for various state grant programs.”
The tier rankings weigh four factors: average unemployment rate, median household income, percentage growth in population and adjusted property tax base per capita.
Adjusted tax base per capita stayed 6th best in the state, despite an increase in value from $224,179 in 2023 to $228,319 in the 2024 rankings. Macon’s average is well above the state average of $136,274.
The state calculated the 2024 population growth rankings from July 2019 through July 2022, and Macon County showed 2.37% growth. This growth was 67th in terms of distress, as roughly 40 counties had a population decrease. The 2024 rankings number is down from the 2023 rankings number, which used the July 2018 through July 2021 figure of 3.25% growth, placing Macon at 78th out of the 100 counties. The state population growth average was 3.2%.
Median household income for the 2024 rankings uses data from 2021. That number for Macon County was $49,406, or 39th lowest in the state. This is down from $51,973 in the 2023 study that used the 2020 numbers, which was the 54th lowest. Macon’s median household income average is still a bit below the state average of $61,997.
The 12-month unemployment average from October 2022 to September 2023 was 3.28%, which out of the 100 counties was 72nd. That unemployment rate slightly improved from 2023’s 3.31%, the 70th out of the 100 counties. Macon’s unemployment rate is still better than the state unemployment average of 3.48%.
Overall, Jenkins feels the economy will remain “pretty healthy” and “look for continued growth in years to come.”
“I still think our region is healthy enough and popular enough to see continued growth, albeit not at the rate we saw during COVID and post-COVID,” Jenkins said.