According to the Economic Development Coalition for Asheville-Buncombe County’s most recent annual report, the coalition attracted just $20 million in capital investment to Buncombe County in fiscal year 2019-20. That figure is down nearly 40% compared to the $33 million invested in fiscal 2018-19.
In 2019, if you were to ask anyone what drove Asheville’s economy, they’d tell you beer, arts and crafts, outdoor recreation, hotels and restaurants. In short, tourism. Today, with those businesses only just beginning to ramp back up and tourists staying home, talk of diversifying Asheville’s economy is picking up.
