Fayetteville, North Carolina Overview Fayetteville, with its large military population and culture, is known as ...
Fayetteville, North Carolina Overview
Fayetteville, with its large military population and culture, is known as "America's First Sanctuary for Military Families," a designation the city and its residents embrace. Fort Bragg, the city's economic backbone, and Pope Army Airfield generate over $4 billion a year in economic activity. With a metro population of just over 375,000, Fayetteville is North Carolina's sixth largest city and the county seat of Cumberland County.
Those relocated for Fayetteville jobs will be pleased at its low cost of living. With a median home price of just $119,500, as compared to the national median of $181,400, home ownership is within reach for most. The median household income is $44,000 compared to $53,065 nationally. Forbes lists the cost of living at 6.8 percent below the national average.
Fayetteville Job Opportunities
Military and defense are the source of most jobs in Fayetteville, NC, employing over 15,000 people. The Cumberland County Public School System is a major source of education jobs in Fayetteville, employing roughly 6,000 people.
Other major sources of Fayetteville jobs include Cape Fear Valley Health System (over 5,000), Wal-Mart (approximately 3,750), Good Year Tire and Manufacturing (over 2,000) and city and county government agencies (over 3,000 combined). Eight of the ten largest defense contractors also have a presence and provide well-paying Fayetteville, NC jobs. Boeing, Lockheed Martin, Grumman, L3 Communications and General Dynamics, among others, furnish products and services to the Department of Defense.
Those seeking careers in other industries such as research and development, healthcare and education might search for jobs in Raleigh, a major city just a short commute away. Raleigh is part of the Research Triangle Park, a haven for R&D jobs.
Fayetteville Employment Trends
As of July 2014, the unemployment rate in Fayetteville was 7.6 percent, well above the national rate of 6.3 percent. In 2012 and 2013, the city experienced negative job growth at -0.3 percent. Forbes projects an annual growth rate of 1.2 percent for 2014. Forbes ranks Fayetteville 93rd for job growth, 30th for cost of doing business and 177th for business and careers.
Fayetteville is working to expand its job base in R&D and technology. Its Partnership for Defense Initiative (PDI) brings together government, private industry and academia to find defense solutions. It also hosts a Defense Security Technology Accelerator (DTSA) to attract and aid new companies working to develop technology products and services for the defense industry.