Wealth on the rise in New Bern

Wealth on the rise in New Bern

NEW BERN, CRAVEN COUNTY - The United States is still slowly recovering from the recession, and incomes across the nation have declined in recent years. Although according to a recent study some cities have weathered the financial crisis better than others.

New Bern was recently rated number one in communities in America where wealth is on the rise.

The study by 24/7 Wall Street, a financial analysis group said, household incomes are up and the poverty level is down.

New Bern Mayor Dana Outlaw said the city is working hard to bring the poverty level even lower.

"We are kind of morphing from a very historic central business district to a city with growth like Craven Thirty and things like that," he said.

The study also said no other city in America had seen such growth in income.

The data collected from the Census Bureau show the median annual income rose from $32,476 in three years ending in 2010, to $40,707 in three years ending in 2012. New Bern saw a 25.3 percent increase in income throughout the three-year period.

Craven Community College Business Professor Nanette Sanders-Cobb said it's a small town with a lot to offer.

"You may not make 30 Million here but you can make a really good living and live comfortably," she said.

Cobb said it's things like the coast, a major hospital, a community college and large corporations that bring people to New Bern

"High skill people, retirees, they are going to be looking for that type of thing to come to an area that can provide that," she said.

The New Bern Area Chamber of Commerce said the growth is also due to active retirees that have found employment in small businesses.

"The finances they bring into the community are very much needed and also helps the community and economy continues in this area," Cobb said.

Realtor Steve Tyson said last year we saw the bottom of the market in the housing market.

"It's trending upward now. It's not booming like you hear about in other parts of the country, but it is moving in the right direction," he said.

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