The Office of Economic Development has just released its inaugural Annual Report. The FY 2013/2014 report includes data previously found in the Growth and Development Report produced by the Long Range Planning Division and tells the story of development and investment happening all over Raleigh.

Featured in the report is the relocation story of Citrix/Sharefile. Jesse Lipson, founder of ShareFile which was acquired by Citrix in 2011, convinced executives that Raleigh was the ideal location for their corporate headquarters. “Raleigh has a healthy mix of people who have been here for a generation or more and transplants who are new, so it’s grounded enough to feel stable but not stagnant. Raleigh has a really good balance” says Lipson. The 130,000 square foot facility is scheduled to open this year.

Raleigh is known for its strengths in technology and innovation which can be seen in the growing number of tech companies and the creative industry evolving around the makers.  The report highlights Raleigh’s business clusters including Life Sciences, Cleantech, Startups, Consumer Goods, and IT/Software.

The report also explores why Raleigh is one of the fastest growing metro areas in the country. When compared to national averages, Raleigh has a lower overall cost of living, a higher median household income, and a greater percentage of the population with a bachelor’s degree. Raleigh is also in close proximity to some of the finest universities in the nation and appeals to many because of its four distinct seasons and vast cultural activities.