After deciding to move its corporate headquarters from Georgia to Chapel Hill, the American Fibers and Yarns Company selected the Campus on Vilcom Circle as the site for its business. Located on Weaver Dairy Road, the Campus will welcome the arrival of the company, as it is expected to generate 20 new jobs for the community.
Chapel Hill courted the American Fibers and Yarns Company because it falls under the heading of a small business given the relatively small number of people the company will employ in the area and because it will fit in with the other businesses in the area.
Chapel Hill Planning Director Roger Waldon said he doesn't foresee any more big business coming in to Chapel Hill in the near future.
"We want to maintain a robust economy, but Chapel Hill is also traditionally a small business town, with our only big employer being the University," Waldon said.
Because UNC is responsible for a large part of Chapel Hill's economic well-being, Waldon said the town works with the University to ensure that the town-gown relationship remains strong.
Jim Heavner, the president of Vilcom and the man responsible for the Campus on Vilcom Circle, said that he isn't concerned with the fact that Chapel Hill is not doing much to attract big business to the area and that he is dedicated to ensuring that Chapel Hill maintains its low unemployment rate even with fiscal shortfalls expected in the coming years.
"The kind of economic cycles that affect the rest of the nation don't traditionally affect Chapel Hill," Waldon said. "Our main employer is the University, and we hope that (the University) will continue to supply a large number of jobs for the community."
Heavner said he also thinks Chapel Hill's economy is affected differently than towns without a large university.
"Unlike many other towns who don't have an employer like the University, I have never seen Chapel Hill undergo a recession," Heavner said.
