These are difficult times for Rocky Mount, which is no different from other similar towns across the state and across the nation. For those who have lost their jobs during this period, it is catastrophic.

PNC’s recent purchase of RBC is typical of what is happening as our national economy transitions and corrects itself of excesses. Mayor David Combs and I have been meeting one on one with the top management of PNC for the last 10 weeks.

PNC is very aware of the pain its layoffs are causing in our community; however, PNC must reorganize after RBC’s failure to compete in the U.S. market.

Although more than 400 out of 1,000 employees will be laid off, PNC will be posting more than 200 new jobs as the company restructures for a net initial loss of 200 jobs. PNC likes the Rocky Mount operation, its employees and the efficiencies here.

After the initial restructuring, Rocky Mount will become one of the three major operation centers for the bank. As PNC grows, it wil see increased growth opportunities for Rocky Mount in the future.

PNC’s reputation for being a good corporate citizen precedes its acquisition of RBC. Company officials have told us to expect increased giving and involvement in the community, more than what we have experienced in the past.

I would like for the community to know that although there will be individual pain in the Twin Counties, the long-range outlook is better for our region. With a sale of RBC to another bank, Rocky Mount could have lost all 1,000 jobs.

What PNC sees in our community is what other large employers in the Twin Counties see – a reliable, very trainable workforce in a cost-efficient environment. During this recession, the Carolinas Gateway Partnership has been working with our existing industries to grow locally.

Although we have lost net jobs because of the national economy, existing industries have chosen to grow in the Rocky Mount area for the same reasons that PNC chooses to grow here.

Announced expansions and actual new hires over the past 18 months are as follows: QVC/200 jobs; Superior Essex/116 jobs; LS Tractor/134 jobs; West Corporation/150 jobs; Hospira/300 jobs; Cummins Rocky Mount Engine Plant/500 jobs. This is a combined total of more than 1,400 jobs as well as $168 million in capital investment.

I want the citizens of Rocky Mount and the Twin Counties to believe in themselves. We are having hard times, but so is the rest of the nation.

Outside industries view Rocky Mount very positively as a good place to do business and expand. Let us challenge ourselves to see what they see, which is a good workforce and a great place to live.

FRANK S. HARRISON

Chairman

Carolinas 
Gateway Partnership