Impact of Road Projects on the Anson Economy

Last week, I was asked to provide some economic projections based on the impacts of recently completed and proposed road construction in Anson County over the next 10 years. The three road projects specifically referenced are the Monroe Expressway, US74 Median and Wadesboro Bypass.

Basically, I expect the population of Anson County to increase by 1% to 1.5% by 2025 based primarily on new residential and commercial development on the west side of the county. This increase will be almost entirely the result of the Monroe Expressway. We are also anticipating a similar level of growth in employment with the largest gains expected in Skilled and Semi-Skilled Construction Trades, Advanced Manufacturing Technology (especially as it relates to metal fabrication) and Logistics/Warehousing.

The US74 Median project will likely have minimal impact on either population or employment, although the slight improvement in eastbound travel times from the eastern side of the county to the Port of Wilmington could make sites in the Peachland-Polkton-West Wadesboro corridor slightly more desirable for over-the-road logistics operations. The Department of Transportation has worked hard to minimize potential negative impact on existing businesses along this corridor as the result of th realignment. 

The Wadesboro Bypass is a complete and total wildcard. There is no design or construction funding for this road. The General Assembly recently appropriated funds for an engineering study, but it has not been started, so no one actually knows where the road will be located. There is virtually no chance this road will be finished in the next 10 years, and it is 50-50 whether it will be finished in the next 20. Making projections based on the information currently available is akin to speculating on what impact a Chelsea Clinton presidency will have on the economy. 

Having said that, my best guess is that the road will be built sometime in the early 2030s. It will be a toll road and will have a “shallow” configuration that runs a mile to a mile and a half north of the current US74. The road will be about 7 miles long and there will probably only be one exit, at US52. This configuration would create a modest boost for property near the Anson County Airport as a location for manufacturing and logistics operations, but it would not create a significantly better location than those already available at the Anson 74 Rail Park and the Atlantic Gateway Logistics Park.