A Raleigh firm has some good news about the local economy.

At an annual meeting, John Linderman, the president of Grubb and Ellis Property Solutions Worldwide, said the Triangle is in better economic shape than the rest of the U.S. because the area supports more than one kind of industry.

In his presentation to a crowd of colleagues, clients, developers, and financial experts, Linderman listed the following industries that he said were local economic drivers: high-tech, bio-tech, pharmaceuticals, financial services, government, medical care, logistics, medical devices, contact research, education, real estate and gaming.

According to Linderman, industries such as technology in Research Triangle Park, the medical industry in Durham and Chapel Hill and state government in Raleigh, all contribute a high demand for employers and employees, and that demand shields this area from the downturn hitting the rest of the country.

"People are seeing decline everywhere, especially in their 401(k). But there's more value in real estate here, more stability in real estate here than the stock market, or anywhere else you can invest your money," Linderman said.

Linderman predicted the following for 2009:

• Interest rates will be less of a factor than loan-to-value ratios.
• Prices will continue to fall into 2010 as leasing fundamentals weaken.
• Activity will be slugglish through most of the year. He expects an average volume of $550 million per quarter by 2010.
• Some wire sales will take place, but they will not be widespread.
• There will be an opportunity for able investors to increase their presence in high-growth markets.

Despite setbacks, he listed following economic opportunities:

• Triangle home prices are still rising.
• The local economy has become more diversified.
• There has been continued population growth, which has been drawn by strong quality of life and available jobs.
• There is an available workforce in the Triangle, and affordable office space, which will attract companies from high-cost regions.
• The Triangle has lower construction costs than many other cities in the Triangle.

Linderman reflected on past economic downturns, saying companies like FedEx, IBM, and Procter & Gamble were all started during rough financial times.

One Winston-Salem-based bank is taking that advice to heart.

The Southern Community Bank of Winston-Salem started construction on their first Triangle branch in Raleigh a few months ago.

Stan Moore, the vice president in charge of setting up the Raleigh branch, says the bank is poised to offer jobs, loans, and investment opportunities for the Raleigh area.

"The bottom line is we're hiring people now. That's good for the local economy," he said.

Moore added, "We're making loans now, that's good for the economy, and we're creating ways for people to buy houses, and for builders to move inventory."

The new building cost the bank about $2 million. Moore says he expects the branch will make a return on the investment within one to two years.