COVID-19 hits Raleigh/Durham with unknown impact to a booming market

In the latter half of the first quarter, the COVID-19 pandemic brought business to an unprecedented halt across the country. Starting March 27th, Wake County issued a shelter-in-place order, shortly followed by North Carolina issuing the same ordinance state-wide on March 30th. To slow virus spread, business was limited across The Triangle to essential activities only. While the overall economic effect of COVID-19 on the Triangle is still unknown, historically the market has been resilient through other national crises thanks to a high concentration of institutional industries acting as the backbone of the region. These industries include healthcare, government, higher education, and the growing industries of life sciences and biotechnology.

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