After a year at Tier 2 status, Greene County will drop into the Tier 1 ranking, according to N.C. Department of Commerce Secretary Sharon Decker.
A slight drop in the poverty rate due to a population increase is what pushed Greene County into the higher tier in January.
Tier rankings, published each year, establish economic well-being, with Tier 1 being most economically distressed.
“The tier rankings provide critical tools,” Decker said, “that help us in various economic development programs and ultimately, help attract businesses to the state.”
County Manager Richard Hicks said there was no new industry or business that would have been affected by the county’s status this year.
“I think it gives (the county) more opportunities for funding from different sources,” Hicks said about the lower ranking. “Sometimes a lot of your grants are based on what tier you are. So with that being the most disadvantaged, hopefully, that will open up some more grant opportunities.”
Commerce grant and tax incentives are based on adding new jobs and increasing the tax base through industry and business.
“We just need some clients,” Hicks said.
Grants are also used for reuse and restoration and water and sewer infrastructure.
With several sources of money now in the economic development fund, short-term plans for the Economic Development Commission include updating the county’s website and marketing efforts, Hicks said
“Our mission is to enhance job opportunities for all North Carolinians no matter where they live in the state,” Decker said.
The three-tier system is based on a statutory formula. The law calls for the 40 most distressed counties to become Tier 1 counties, the next 40 counties to be designated as Tier 2 and the 20 most prosperous counties to become Tier 3 counties.
Thirteen counties will change tier designations for 2014.
The rankings are based on an assessment of each county’s unemployment rate, median household income, population growth and assessed property value per capita.
In addition, any county with a population of less than 12,000 or a county with a population of fewer than 50,000 residents with 19 percent or more of those people living below the federal poverty level are automatically designated as among the most distressed counties.
Projections for 2013 had showed Greene’s population would increase slightly, dropping the poverty rate to 18.4 percent.
Margaret Fisher can be reached at 252-559-1082 or Margaret.Fisher@Kinston.com. Follow her on Twitter @MargaretFishr.