The City of Greensboro is touting what it calls a major year for economic development, and on paper, the numbers are truly eye-catching.

According to the city’s just released 2025 “Year in Review” from its Economic Development Office, Greensboro saw more than $4.74 billion in capital investment tied to projects announced or advanced during the year.

Those same efforts accounted for nearly 15,000 jobs.

Those are very big numbers.

But what makes it even more striking is how it compares to just a year earlier.

In 2024, Greensboro reported roughly $430 million in capital investment. That means the city is now claiming a year-over-year increase of more than ten times that amount – a jump that, if viewed in isolation, would be almost hard to believe.

Of course, there’s a reason for that kind of leap: much of the increase is tied to a handful of massive, high-profile projects that have been in the works for years and are now showing up in the numbers in a meaningful way.

Some people love the growth because it brings jobs and it increases the tax base; others hate it because the roads become more and more crowded, lines for everything become longer, and it becomes harder and harder to find anywhere in Guilford County where there is true peace and quiet.

At the top of the list is the Toyota battery manufacturing facility in nearby Liberty – which has now begun initial production.

While the plant is located in Randolph County, its economic impact is expected to be felt across the region, including Greensboro and Guilford County. That project alone represents billions of dollars in investment and is widely seen as a generational economic development win for the Piedmont Triad.

Another major project shaping the numbers is JetZero, the California-based aviation company that announced plans to build a large manufacturing facility at Piedmont Triad International Airport. That project, which local and state leaders have aggressively pursued, is expected to bring thousands of jobs to the area over time.

Interestingly, those kinds of large-scale projects can dramatically skew annual economic development totals. When they hit, the numbers look enormous. When they don’t, the totals can look comparatively modest.

That’s one reason economic development officials often emphasize multi-year trends rather than single-year snapshots. Still, a jump from $430 million to $4.74 billion is going to get attention no matter how you frame it.

Beyond those headline projects, the report also points to growth across several key sectors, including aviation, manufacturing and technology – industries that local leaders have been targeting for years as part of a broader strategy to diversify and strengthen the area’s economy.

The report also highlights the city’s “Road to 10,000” housing initiative, which is aimed at increasing the supply of housing as Greensboro continues to grow.

That effort has taken on added importance as rising home values and limited inventory have made housing affordability a growing concern for many city and county residents.

In a statement included in the report, Greensboro Economic Development Manager Marshall Yandle said the city’s performance reflects increasing confidence from businesses and developers.

“Greensboro continued to build momentum as a competitive and reliable market for business in 2025,” Yandle said. “The scale and diversity of projects announced and advanced during the year reflect growing confidence among employers, developers, and institutional partners in the City’s economic fundamentals and operating environment.”

Of course, economic development numbers are always worth looking at a little more closely. Announcements don’t always translate into completed projects, and job projections don’t always line up perfectly with jobs that ultimately materialize. Think ProKidney and Dell.

At the same time, some of the investments included in annual totals may span multiple years or be counted when they’re announced rather than when construction is completed.

None of that means the numbers aren’t meaningful – but it does mean they’re best understood as part of a broader picture rather than a precise snapshot of economic activity in any single year.

Interestingly, Greensboro’s approach to economic development has increasingly focused on working in coordination with regional partners rather than operating in isolation. In 2015, local leaders created the Guilford County Economic Development Alliance and never looked back when it came to cooperation.

That’s especially evident with projects like Toyota, which, while not located in Greensboro, are still viewed by local officials as critical to the city’s long-term economic outlook.

The city’s Economic Development Office says it plays a supporting role in those efforts while also providing direct assistance to businesses looking to expand or locate in Greensboro. That includes individualized services as well as programs aimed at strengthening the local entrepreneurial ecosystem.

For city leaders, the message in this year’s report is clear: Greensboro is gaining traction as a place where large-scale investment isn’t only possible but increasingly likely.

Whether that momentum continues at the same pace is an open question.

Projects like Toyota and JetZero don’t come along every year. But if even a portion of that level of investment continues, Greensboro’s economic landscape will look very different over the next decade.

And if nothing else, the jump from hundreds of millions to billions in a single year makes one thing clear – 2025 wasn’t a typical year for economic development in Greensboro.  However, many officials are hoping it is indicative of what’s to come in future years as well.

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