Last week, Christopher Chung, CEO of the Economic Development Partnership of North Carolina (EDPNC), was presented with Business Facilities’ 2022 State of the Year Award by the magazine’s Publisher Joyce Wasserman.
The Business Facilities’ editorial team considers such factors as corporate relocation and expansion investments, workforce development, government regulations, infrastructure, and education resources when choosing the winner of the State of the Year. The state’s award was featured in the cover story of the January/February 2023 issue of Business Facilities magazine.
Presenting the award trophy to EDPNC’s Chung at the SelectUSA Investment Summit in National Harbor, MD on May 4 Wasserman, said, “It was an exciting atmosphere in which to present our State of the Year award where North Carolina was on full display to show the world it is open for foreign direct investment. The 2022 announcement by VinFast, a Vietnamese EV manufacturer, to invest in Chatham County — the largest economic development project in North Carolina history — is just one of the reasons Business Facilities has recognized the state.”
In the article published by Business Facilities early this year, it was noted that bipartisanship in North Carolina has been instrumental in fostering the business climate there. New investment in 2022 totaled a record $19.3 billion, with Governor Roy Cooper announcing job creation totaling 28,300 — another record for the state.
This is the second Business Facilities State of the Year award for North Carolina, having been chosen in 2020. In the magazine’s 2022 Annual State Rankings Report, North Carolina topped the list for Best Business Climate. The state also ranked in the Top 5 for Foreign Direct Investment in those rankings.