AVL 5x5 Economic Development Strategy - Asheville Area Chamber of Commerce

AVL 5X5 Creates Asheville Jobs

Launched in 2010 by the Economic Development Coalition for Asheville-Buncombe County (EDC) and Asheville Area Chamber of Commerce, AVL 5X5 was the first 5-year strategic plan, designed to add 5,000 new jobs and $500 million in capital investment within five target clusters.

The Asheville 5X5 campaign united business leaders, the City of Asheville, Buncombe County, educational institutions and community around a common goal to attract and retain jobs that improve career opportunities, expand our key industries and boost our economy, now and for future generations.

Read the AVL 2025 Strategic Plan

Impact

From July 2015-June 2020, the EDC and partners provided significant assistance in the attraction of three new companies and eight expansions announcing 1,180 direct jobs. These new jobs will increase opportunity for both residents and the economy, going far beyond the companies and industries that create them. Industries that supply goods and services in the supply chain will be impacted as will income generation for households and associated local spending. All major sectors in the local economy are boosted by the EDC and partners’ strategic job creation efforts.

Wages for new jobs announced spanned a broader spectrum with an overall average of $48,100, ten percent above the average wage (2019 private) in Buncombe County and 35 percent of these pay more than $50,000 per year.

New business and expansions announced just under $200 million in capital expenditures, including strategic investments in property, machinery and equipment.

Once all jobs are in place, Total Output (direct, indirect and induced effects) are estimated at $1.1 billion in Buncombe County and is considered annually recurring.

Investors

Economic development in Asheville and Buncombe County is a team effort. Our community relies on the leadership and investment of more than 80 private Asheville businesses, organizations and local governments. These investors help the EDC strategically expand high-growth industries and attract higher wage jobs to the Asheville area, creating better opportunities for our residents while increasing county and city investments in our economy.

Investors make a five-year financial commitment that offer the business and community many benefits. New labor income and industry growth create a ripple effect in the metro Asheville economy, increasing demand for industries like professional business services, banking, real estate, health care, supply chain products and more.

Thanks to the many Asheville area businesses investing in job growth through AVL 5X5 Vision 2020!

Asheville Eye Associates
Asheville Merchants Fund of the Community Foundation of WNC
Asheville-Buncombe Technical Community College
Asheville Hotel Group
Assured Partners of NC
AT&T North Carolina
Avista Business Development Corporation
AvL Technologies, Inc.
Bank of America
Bankers Insurance
BB&T Now Truist
Beverly-Grant, Inc.
Beverly-Hanks & Associates, REALTORS
Biltmore
Biltmore Farms, LLC
Blue Ridge X-Ray Co., Inc.
Boys Arnold & Company
Brick Street Equity Management
Brumit Restaurant Group
Bunnell-Lammons Engineering
Cintas – The Uniform People
City of Asheville
Coldwell Banker King
Colton Groome & Company
Constangy, Brooks, Smith &
Prophete, LLP
David Gantt Law Offices
DHG
Diamond Brand Gear
Dominion Energy
Duke Energy
ECS
Element-360
ERC Broadband
Fifth Third Bank
FIRC Group North Carolina Inc.
First Bank
First Citizens Bank
Friday Staffing Services
GE Aviation
GFoss Consulting, LLC
Goldsmith Molis & Gray
Greater Asheville Regional
Airport Authority
Harper General Contractors
Highland Brewing Company
HomeTrust Bank
Hyatt Place Asheville-Downtown
Insurance Service of Asheville, Inc.
Jacob Holm Industries (America), Inc.
Johnson Price Sprinkle PA
Lenoir-Rhyne University Center for Graduate Studies of Asheville
Lewis Real Estate
Linamar
MB Haynes Corporation
McGill Associates, P.A.
McGuire, Wood & Bissette, PA
McKibbon Hospitality
McMillan Pazdan Smith Architecture
Mercy Urgent Care
MHAworks Architecture
Mills Manufacturing Corp.
Mission Health
Moog Music Inc.
moon io media, inc.
New Belgium Brewing
Novus Architects
The Omni Grove Park Inn
Park National Bank
Parsec Financial Wealth Management
Pearsall Operating Company
Pepsi Cola Bottling Co. of Asheville
Plasticard-Locktech International (PLI)
Pulliam Properties, Inc.
Renaissance Asheville Hotel
Roberts & Stevens
Senator Terry Van Duyn
Silver-Line Plastics Corporation
Skyland Distributing Company
TD Bank
Tennoca Construction Company
Thermo Fisher Scientific
Tops for Shoes, Inc.
Troy and Sons Distillers
TSAChoice
UNC Asheville
The Van Winkle Law Firm
Vannoy Construction
Virtelle Hospitality, LLC
WeaverCooke-Kirkland
Construction Companies
Webb Investment Services, Inc.
Wells Fargo Bank, NA
Western Carolina University
WithersRavenel, Inc.
Worley, Woodbery, & Associates, PA

Facts & Figures

1,180 JOBS

Total of Direct, Indirect and Induced Jobs

$1.1 BILLION

Capital Investment

$31 ROI

for every $1 invested (includes private and public investment)

AVL 5X5 Strategy

AVL 5X5 Creates Asheville Jobs

Impact

Investors

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Facts & Figures

Clark Duncan

AVL 5X5 Strategy

AVL 5X5 Creates Asheville Jobs

Impact

Investors

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Facts & Figures

Clark Duncan