Greater Raleigh Chamber Blog

As we step into a new year, there’s no better way to get the momentum rolling for your business than Economic Forecast: Launch 2025, the Triangle area’s premier economic forecast event, presented by Wells Fargo. Whether you are attending in person or watching via the WRAL livestream (see below), this event is designed to provide the insights, trends, and predictions you need to make informed decisions in 2025. Access the livestream here on January 7 at 8 a.m.

​This year’s Economic Forecast offers unparalleled value for business leaders and professionals in the Triangle area, featuring expert insights into local commercial real estate and the national business economy landscape. Scheduled for January 7, 2025, the event will be held at the Martin Marietta Center for the Performing Arts from 7 to 10 a.m. Presenters sharing their insights will include:

• Tom Barkin, President and Chief Executive Officer of the Federal Reserve Bank of Richmond
• Jay H. Bryson, Ph.D., Chief Economist at Wells Fargo & Company

These experts will be joined by local industry leaders Calvin J. Crosslin from the Lenovo Foundation and Billie Redmond of TradeMark Properties as part of a dynamic panel discussion and Q&A session. Together, they will provide an in-depth look at the economic landscape of 2025, and help you understand how macroeconomic factors may impact your business, investment strategies, and the regional economy.

​We are pleased to announce that Economic Forecast: Launch 2025 will be livestreamed for free thanks to our media partner WRAL-TV Channel 5. You can catch the event at 8 a.m. on January 7 via www.wral.com or on the WRAL News app. You can also follow along on social media using the hashtag #RCLaunch2025 for real-time updates and discussions.

To help you stay informed throughout the year, we encourage you to visit the digital Economy & Business Publication from Wake County Economic Development and the Jay H. Bryson presentation. These online resources provide updates and data that will complement the insights shared at this year’s event, helping you stay ahead of economic and industry-specific trends in our region.

This year’s Greater Raleigh Chamber Golf Tournament was a tremendous success! On a brisk fall morning this October, hundreds of business professionals, Triangle leaders, and community partners teed up to connect and show their support for the Chamber while enjoying a perfect day on the green. The event provided a valuable opportunity for networking, connecting, team building, and friendly competition - all while raising essential funds for the Chamber's initiatives.
We would like to extend a heartfelt thank you to everyone who attended and made this event possible. Your presence added to the day’s excitement and fostered a spirit of collaboration we are proud our region is known for. Golfers had the chance to showcase their skills on the course and we are very excited to announce the winners here.

​Congratulations to all our champions and thank you again to everyone who sponsored and made this year’s Greater Raleigh Chamber Golf Tournament such a memorable event. ​Your continued support ensures that we can continue to serve, building a thriving regional economy, enhancing the community’s quality of life, and strengthening our member businesses.

​As Raleigh plans for its future, Transit Oriented Development has emerged as a key strategy for sustainable equitable development. Over the past five months, the Raleigh City Council has been developing a vision aimed at supporting growth and development alongside sustainable transit solutions. Central to this vision is the Transit Overlay District, a zoning innovation focused on bolstering transit lines such as the upcoming Bus Rapid Transit (BRT) system by providing them with the density they need to ensure ridership. On July 2, the council completed rezoning over 600 individual property parcels along the New Bern Avenue corridor to complement the BRT system, aligning future development with the new mass transit system.

​A Transit Overlay District is a specialized zoning tool designed to maximize the effectiveness of transit systems by promoting compact, mixed-use developments around transit hubs and stations. These districts encourage the density necessary to sustain and enhance transit ridership, aligning with Raleigh’s commitment to sustainable urban planning and improved accessibility.
Raleigh’s initiative to establish Transit Overlay Districts is part of a broader strategy to integrate transit planning with urban development goals. Transit systems need density to be able to function. By concentrating jobs, retail spaces, and multifamily housing near transit hubs, the city aims to create vibrant, walkable communities that reduce car dependence and enhance the urban environment.

​With the recent groundbreaking of the Bus Rapid Transit system on the New Bern Avenue corridor, there is a high level of interest from both city council and local citizens to get the development around this first BRT installment right. By dividing zoning decisions into 6 zones along New Bern Avenue, instead of rezoning the whole line at once, the City Council was able to better tailor zoning decisions to diverse community needs—from historic residential areas to bustling business zones and healthcare facilities.
The success of the New Bern Avenue Transit Overlay District is not only about immediate impacts but also about laying the groundwork for the three remaining legs of this system: North up Capitol Blvd., South down Wilmington Ave., and West along Western Blvd. A thriving transit corridor here could strengthen public support and attract additional funding for further transit developments, benefiting the entire city.

​As Raleigh continues to evolve, initiatives like the Transit Overlay District demonstrate the city’s proactive approach to urban planning. By integrating transit infrastructure with thoughtful zoning policies, Raleigh is paving the way for a more sustainable and connected future.
Stay informed about developments like the Transit Overlay District and other legislative updates by visiting our webpage or following us on all social media platforms at @raleighchamber.
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For more information on Raleigh’s Transit Overlay District and related projects, please visit the City of Raleigh’s official webpage.

​As we approach the upcoming November elections, Wake County voters will have the opportunity to vote on a $142 million bond referendum aimed at enhancing and expanding our local library facilities across Wake County.

This bond referendum, if approved, will fund a series of projects designed to meet the growing needs of our county by implementing a $131 tax increase on the median home price in Wake County (.25-cent tax increase per $100 of assessed valuation).
Projects include:

• Construction of 2 new libraries in fast-growing areas, including Rolesville’s first local library ($51.9 million)
• Renovation and expansion of 9 existing libraries to improve accessibility and enhance services ($55.6 million)
• Replacements of the Wendell Community Library and the Athens Drive Community Library ($34.5 million)

These investments mark the first bond funding dedicated to Wake County libraries since 2007. This investment ensures our libraries remain vibrant community spaces by providing access to educational resources, cultural enrichment, and services for all residents.
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Our libraries are more than just buildings—they are catalysts for economic development and essential contributors to a high quality of life. They support lifelong learning, workforce development, and innovation, making our region more attractive to businesses and families. A well-funded library system enhances property values, supports workforce readiness, and fosters a culture of innovation—all critical elements for Wake County to remain one of the fastest-growing counties in the country. By investing in our libraries, we invest in the future competitiveness and attractiveness of our community for businesses and residents alike.
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For detailed information on the proposed projects and how you can get involved, please visit the official Wake County Government website.

​The Raleigh City Council has been considering numerous ways to enhance our downtown’s vibrancy and security. Previous initiatives have included private security to patrol hot spots, up-fit grants for building facades, and improved lighting. They have now put more resources into the effort, including $765,000 in infrastructure improvements, and $585,000 in homelessness diversion resources. The money comes from unspent capital reserve funds: unallocated and unspent dollars available to the council to either put in the city’s reserves or to allocate for non-recurring projects.
 
The new infrastructure improvements include new intersection and sidewalk murals, wayfinding signs, improved restaurant and business waste collection systems to reduce the number of trash cans on sidewalks, and replacing urban tree grates with flexible covers to reduce tripping hazards and improve the look of our sidewalks. These smaller individual projects will all work collectively along with previous initiatives (like improved lighting) to reduce visual clutter in our downtown and brighten our primary tourism and employment center.
 
Equally exciting, the city’s new homelessness diversion pilot is getting a financial boost: $585,000 has been allocated to keep people in their homes and prevent them from becoming homeless in the first place, and to getting the unhoused directly back into housing, reducing the number of people waiting to get into shelters and/or experiencing emergencies while homeless. These diversion programs are often initiated by Downtown Raleigh Alliance ambassadors who experience transient and homeless individuals as part of their important roles in our city’s core. By providing more direct funding for housing and case management, less people will feel compelled to congregate downtown seeking shelter and services, and the City saves funds by minimizing the number of emergencies they must respond to.
 
There is still a lot of work being done to improve Downtown Raleigh’s attractiveness to our residents and visitors, but these are two great steps. The Raleigh Chamber continues to advocate for more resources and focus on our downtown - we look forward to more announcements to come. 

​Diversity, equity, and inclusivity (DEI) are essential values that shape our society.  As the voice of DEI in our business community, we are proud to initiate and support efforts across the Triangle that promote DEI among our businesses. Every year, we recognize an individual who embodies these values and has significantly contributed to promoting diversity, equity, and inclusivity in our region.

The Phil Freelon Diversity, Equity, and Inclusivity Award is one of the most prestigious honors in the business community. Named in honor of Phil Freelon, a renowned architect who advanced architecture and construction as a vehicle for social justice, diversity, and inclusion through his work and efforts, the award recognizes individuals who have worked tirelessly to create a more just and equitable society.
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As we open nominations for the 4th Annual Phil Freelon Diversity, Equity & Inclusivity Award, we invite you to join us in celebrating those who have made a difference in promoting diversity, equity, and inclusivity in their workplace or community. This includes having made significant contributions to promoting DEI in the Triangle through a wide variety of professional projects and service initiatives, and their efforts continue to have a positive impact on their workplaces and communities.  Previous winners of the Phil Freelon Diversity, Equity, and Inclusivity Award include Donald Thompson of The Diversity Movement (2023), Courtney White from BASF (2022), and Cheryl Parquet of Blue Cross NC (2021). ​

​Nominations are officially open for this year’s Phil Freelon Diversity, Equity & Inclusivity Award. This is your chance to nominate someone who has made a difference in promoting DEI in your workplace and community.

The recipient of the 4th Annual Phil Freelon Diversity, Equity, and Inclusivity Award will join an esteemed group of honorees and be recognized at a special ceremony during the 2024 Diversity, Equity, & Inclusivity Conference in partnership with Bank of America.

​The 2024 Diversity, Equity & Inclusivity Conference, in partnership with Bank of America, is not only an opportunity to honor and recognize the contributions of those who have made a difference in promoting diversity, equity, and inclusivity, but it is also a great opportunity to network with other business leaders who share your commitment to creating change. This year, The Focus is the Future and we are preparing to learn from industry leaders who will share their insights and best practices on inclusive leadership, organizational culture, generational diversity, and more!
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Your nomination, attendance, and engagement at the conference is vital to help us recognize and celebrate those who are working to create a more just and equitable society for all. Join us in celebrating and learning more about promoting diversity, equity, and inclusivity in our community. Submit your nomination on our website and register here! Nominations are due by June 21 at 5 p.m. 

​As we enter the second quarter of the year, it's time for business owners to go beyond mere reflection and take action to elevate their business.

The most successful companies will be those with leaders who are keenly versed in knowing costs structures, focused on core competencies and understand the market. These fundamental skillsets can equate to successful bottom lines, regardless of your specific industry or economic conditions.

 Given this, here are a few steps business leaders can take to leaders to assess their business's current status and determine the critical factors that will help achieve success in the rest of 2024.

Regularly reviewing and adapting your business plan is critical to ensure you’re operating in a realistic and nimble manner. When updating a business plan, there are a few best practices to keep in mind.

• Compare last year’s business performance to prior years by checking sales results and marketing tactics to spot trends. This will help you determine the best strategies in 2024.
• Keep your budget in mind and ensure you are updating salaries, your projections, any fixed costs or money you’ve used to grow your business over the past year.
• Source feedback from others when updating your business plan. Speak with your employees, your customers and fellow business owners to get a sense of what’s working well and what needs to be changed to perform better this year.
• Evaluate your customer service offerings. At the end of the day, you want to make sure you’re keeping the customer happy, so look at your strategies, such as loyalty programs, to ensure you’re creating repeat customers. 

​Despite demand, many entrepreneurs face difficulties accessing capital. Traditional bank loans may feel like the strongest capital source, but it’s important to consider that it might not be the best fit for your business. This is where business grants that do not need to be repaid can help bolster your small business finances. Also, Community Development Financial Institutions (CDFIs) can be helpful sources of capital for underserved entrepreneurs. In the Triangle, Carolina Small Business Development Fund is a great resource. If you’re looking for somewhere to start, ask your banker or visit Bank of America’s Access to Capital Directory, which offers a variety of free and low-cost capital resources to consider.

​It’s important to evaluate your hiring or retention processes, as nearly half of small business owners are impacted by labor shortages, according to Bank of America’s 2023 Women & Minority Business Owner Spotlight, often leading to entrepreneurs working more hours and raising wages. Whether it’s sourcing candidates, setting a clear employee growth timeline, or creating an internship program, businesses can explore various ways to bring candidates to the interview table. As talent acquisition grows increasingly competitive, our bankers have also been working with more businesses to offer benefits packages as additional ways to recruit and retain top talent.
 
The new year is also a great time to recognize your current team to set a positive tone for the year ahead. Take time in the new year to set S.M.A.R.T. expectations and goals for your team – meaning goals that are specific, measurable, achievable, relevant and time-bound. If you didn’t already, it’s also important to acknowledge the great work your team did in the prior year, which can serve as a motivating factor for growth in 2024.
 
As the nation’s top small business lender that has served the Triangle for more than 100 years, Bank of America is proud to offer these steps that can help put your business on the path to a strong and successful 2024.

Don’t forget to also celebrate and promote your small business during the upcoming Triangle Small Business Week from April 28 – May 4! The Raleigh Chamber and our partners are celebrating by offering events and resources to support the organizations that are important economic drivers for our region. List your special deals or events happening that week on the official site www.trianglesmallbusinessweek.com and record a Small Business Spotlight to promote your brand today!

The 2024 Inter-City Visit & Leadership Conference presented by Pinnacle Financial Partners was an eye-opening experience for more than 175 regional leaders who traveled to Atlanta to learn about the city's success in attracting businesses and talent.

Attendees were inspired by the city's commitment to diversity and inclusion, corporate philanthropy, regional collaboration and the role they all play in driving economic growth and promoting quality of life. Through numerous panels, tours, and group discussions, attendees saw firsthand how Atlanta is leading the way in innovation, infrastructure, and community development. The event was also a reminder that other major metropolitan areas have numerous lessons for our business and civic leaders to learn and apply to our own region and create a more prosperous and inclusive community.

Attendees explored The Battery, the incredible live-work-play development surrounding the Atlanta Braves stadium, and what lessons we can bring back to PNC Arena’s upcoming redevelopment. We learned about Piedmont Park and how large urban greenspaces like Dorothea Dix Park provide critical physical and mental health infrastructure.  We also visited the National Center For Civil and Human Rights to discuss how diverse relationships and a mindfulness of cultural differences build a stronger community and benefit the economy. Find more images and takeaways from the 3-day trip using the event hashtag #ICVLC24.

The Raleigh Chamber would like to thank all our speakers, venues, attendees, and sponsors for their support in making the 2024 Inter-City Visit & Leadership Conference a truly inspiring and valuable experience.

International Women’s Day is a time to celebrate the achievements of women around the world and right here in our community. Celebrated every year on March 8, it is a day that recognizes the incredible contributions that women have made to society and highlights the ongoing progress toward gender equality. But the month of March is also Women’s History Month, a time to reflect on the journey of women leaders and the obstacles they have overcome along the way.

​March is our chance to celebrate the trailblazers who have paved the way for future generations of women leaders, and the Raleigh Chamber is proud to present several events to honor, celebrate, and learn from the women in our community. We hope you will join us for our upcoming Coffee with Leaders featuring Angie Thacker of Pinam Construction, the Chamber Professional Women’s Luncheon featuring Sharon Delaney McCloud, and Triangle DEI Alliance’s We Connect event with Shirnetta Harrell of The No Woman, No Girl Initiative.

As we celebrate International Women’s Day and Women’s History Month, we are also reminded of the incredible strides women have made in leadership positions. Embracing your leadership journey as a woman means breaking down barriers and challenging the status quo. It means being a role model for the next generation of women leaders and creating a world where gender is not a barrier to success. It means understanding that success is not just about climbing the corporate ladder but also about positively impacting the world around you.

​At this year’s Women’s Leadership Conference, presented by PNC we will encourage attendees to Embrace Your Leadership Journey with a celebration of women’s growth, leadership, and success.

With an attendance of over 1,000 emerging and established business leaders, this annual conference provides women and their colleagues with the knowledge and skills needed to have a more significant impact and broader influence within their organizations and far beyond into our community. This year’s conference on Tuesday, May 21 at the Raleigh Convention Center will be a chance for professional women to come together, learn from one another, and grow as leaders. 

Happy International Women’s Day and Women’s History Month! We hope you will continue to celebrate and Embrace Your Leadership Journey with us this May. Register today for the Women’s Leadership Conference!