Regional Report Western August 2012
A smaller share makes goods
The Western North Carolina Vitality Index, released in June, reports on the natural, social, built and economic environments in 26 counties. It found, among other things, that while the portion of the goods-production workforce in the state and region is higher than in the nation, those leads have shrunk during the past 20 years. The study came to this conclusion by using an economic measure called a location quotient, which in North Carolina is 1.15 — meaning its portion of employment in goods-producing industries is 1.15 times higher than the nation’s. In the 23 counties that make up Business North Carolina’s Western region, the location quotient decreased from 1990 to 2010 in every county except Graham and McDowell.
WEST JEFFERSON — The Office of the Comptroller of the Currency designated LifeStore Bank in “troubled condition” and gave it several rules as part of a consent order, including that it submit a “profit plan” to the regulator and not issue a dividend without written approval. The bank says it is well-capitalized and has made progress on nonperforming assets and loan-loss reserves.
FRANKLIN — Mission Health named James Bross president and CEO of Angel Medical Center. He was senior director of client services at Temple, Texas-based Applied Revenue Analytics, where he specialized in improving hospitals using financial analytics. Before that he was chief operating officer at Rutherford Hospital in Rutherfordton.
ASHEVILLE — State lawmakers passed legislation establishing Asheville Regional Airport as an independent authority no longer controlled by the city. The airport’s board will have more influence from Henderson County, with two of seven members required to be from there.