City of Raleigh
The City continues to recognize economic benefits from its investment in downtown and other areas of the City.
The Raleigh Convention Center Complex has been met with outstanding bookings by regional, national and
international conference groups, and continues to experience positive momentum. The Center held 270 events
with 402,976 attendees during the twelve month period ending June 30, 2016. The events during fiscal year
2016 included 57 conventions and tradeshows, as well as 23 competitions, which had an estimated $49.4 million
economic impact on Wake County. The Red Hat Amphitheater also has held a large number of events since opening
in June 2010. Thirty-seven shows brought more than 107,000 attendees in the most recent summer season.
number of key projects and initiatives in
fiscal year 2015-16 reflect the City’s continuing
involvement in its vital capital infrastructure.
Raleigh leaders approved a new plan for
downtown which will focus on creating a
greener community, creating connections,
and revitalizing and redeveloping the
downtown area. The City of Raleigh acquired
the Dorothea Dix property from the State of
North Carolina, a 308-acre site that the City
plans to develop into a destination park, for
$52 million in July 2015. The City finalized its
Central Operations Facility in early fiscal year
2015-16, which sits on a 37-acre site just north
of downtown Raleigh. The facility houses
the Streets division, Vehicle Fleet Services,
Traffic Engineering, and Parks and Building
Maintenance staff. The City completed the Central Communications Center, a 95,000 square foot facility housing
the Raleigh-Wake Emergency Communications Center, the Raleigh Emergency Operations Center, Raleigh Traffic
Control Center and Raleigh Data Center. The facility was occupied in May 2016.
Long-term Financial Planning
he City seeks to consistently maintain a strong financial position as evidenced by its AAA/Aaa ratings from the
three major credit rating agencies. This objective requires regular long-term planning of operating and capital
requirements for its major general government and enterprise programs. In doing so, the City relies on key financial
policies and procedures for dealing with future events in financially responsible ways.
Annually the City adopts a 10-year Capital Improvement Program (CIP) that looks ahead to project and plan for
capital needs. Phase I encompasses the first 5 years of the CIP and addresses both project needs and financial
strategy for this period. Phase II of the program, spanning the second 5-year period, includes longer range projects
identified as necessary for the continuation of existing service levels to the citizens of the City.
Phase I of the CIP spans fiscal years 2015-16 through 2019-20. The major areas included in Phase I are transportation,
public utilities, parks, housing, stormwater utility, technology and general public improvements. The public utilities
and transportation programs represent the largest portions of the CIP due to the strong growth of our area and the
large amount of utility and transportation needs.
2012 2013 2014 2015 2016
Five-Year Sales Tax Revenues