Triangle to lead state in economic development


Dr. John Silvia, Regional Managing Director for Wells Fargo, told members of the Raleigh Chamber of Commerce that the Triangle's mix of education, healthcare and information technology sectors will create new jobs while other areas of the state will continue to face high unemployment.

Dr. Silvia said computer software companies Red Hat, SAS Institute and pharmaceutical company Novartis are expected to add highly skilled workers with higher than average salaries.

Silvia expects the state will add about 50,000 new jobs in 2011. But the economist says those jobs will not replace jobs lost in the Great Recession.

Dr. Silvia likened the state's economy to a Tom Hanks movie. He says that we "survived the crash but we're now living on a new island and we need to get used to it."

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