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Economic development director: Clayton is growing fast; town seeks to rebalance tax base
Summary
Joe Stallings told the planning board Clayton is adding "about... 5 people every single day," that the town's tax base is roughly 80% residential and 20% nonresidential, and that staff are targeting higher'wage, higher'investment businesses while preparing sites and infrastructure.
Joe Stallings, the town's economic development director, gave a wide'ranging "State of the Economy" presentation to the Planning Board that framed Clayton's rise as both an opportunity and a planning challenge. "We add about, on average, 5 people every single day," he said, and noted the town has one of the youngest average populations in the region. He described commuter patterns and retail leakage: "Over 70% of our population leaves for work every single day," a dynamic that reduces local spending.
Stallings highlighted the tax'base imbalance: on-screen graphics showed roughly an 80/20 split between residential and nonresidential assessed value, and he told the board the town wants to shift that needle toward more commercial and industrial investment. He listed practical constraints for recruitment (power, water, and large sites) and said the department targets "high investment, high wages, and low utilities" when evaluating prospects. Stallings also summarized recent wins (a new industrial park on Clayton Boulevard, a railroad-side project on Highway 42, and other deliveries) and said staff are partnering with NC State University on research into local economic mobility barriers.
