DOING BUSINESS IN NORTH CAROLINA

Economic Development Partnership of North Carolina
Melissa Smith
melissa.smith@edpnc.com
336-214-7330
Melissa.smith@edpnc.com
www.edpnc.com

DOING BUSINESS IN NORTH CAROLINA
“North Carolina is a model for economic development growth and innovation. The state’s track record of groundbreaking business ventures and continued expansions, supported by a top-in-the-nation workforce and a world-class education system, shows North Carolina has no indication of slowing down.”
— Christopher Chung, CEO, Economic Development Partnership of North Carolina
DOING BUSINESS IN NORTH CAROLINA
North Carolina State Capitol Building in Raleigh (Photo: Visit NC)

TARGETED GROWTH SECTORS

Life Sciences: North Carolina has a robust life sciences industry with more than 830 companies in specialties ranging from pharmaceutical manufacturing and health informatics to crop genetic engineering, supported by a life sciences workforce of more than 75,000.


Aerospace/Aviation: More than 280 leading aerospace companies have operations in North Carolina and more than 450 aerospace manufacturing suppliers contributing to the supply chain.


Clean Energy: In 2007, North Carolina became the first state in the Southeast to adopt a renewable energy portfolio and has passed bipartisan legislation to cut the state’s carbon emissions by 70% by 2030 and reach carbon neutrality by 2050.

TOP PROJECTS (CAPITAL INVESTMENT)

COMPANY
CITY
INVESTMENT
Novo Nordisk
Johnston County
$4.1 billion
Natron Energy
Edgecombe County
$1.4 billion
Fujifilm Diosynth Biotechnologies
Wake County
$1.2 billion
Ross Stores
Randolph County
$498.85 million
Boviet Solar Technology
Pitt County
$294 million

FEATURED LOCATIONS

North Carolina’s momentum is propelled by low business costs, a diverse culture, superior infrastructure, and a highly skilled workforce that’s growing every day. It’s no wonder North Carolina has been named a top state for business by CNBC five years in a row.

ElectriCities is a member organization that serves 70+ public power communities across North Carolina. The economic development team at ElectriCities goes above and beyond to serve our communities through programs like Site Assist and Smart Sites, helping communities identify and certify industrial properties across North Carolina. Through these and other programs, ElectriCities plays a valuable hands-on role in economic development in the communities that they serve.

Discover Franklin County, NC, the fastest-growing county in the Research Triangle Region, on an annual growth basis, fueled by proximity to a robust talent pool, dynamic business environment and partnerships, premier higher education and research institutions, and cost competitive abundant land.

GREENVILLE NORTH CAROLINA
Greenville is the thriving economic, education, medical, and cultural hub of eastern North Carolina. Home to East Carolina University, the Greenville-Pitt County MSA has the workforce, infrastructure, and resources that companies need to succeed in advanced manufacturing, life sciences, and emerging technology.

FAST FACTS

Population (July 2023 est.): 10,835,491¹
Largest Cities (2024 est.): Charlotte (923,164); Raleigh (487,942); Greensboro (304,279); Durham (300,100); Winston-Salem (254,032)¹
Real GDP (2023): $638.07 billion²

¹U.S. Census Bureau
²Bureau of Economic Analysis, U.S. Dept. of Commerce

RURAL GRANTS

The N.C. Department of Commerce Rural Division’s Building Reuse Program provides grants to local governments to assist with building improvements to real property that will lead to the direct creation of new, full-time, private sector jobs. The program requires a cash match equal to the grant request amount.

TOP BUSINESS FACILITIES RANKINGS

#2 Best Business Climate2024 State Rankings
#3 EV Investment2024 State Rankings
Top 5 Life Sciences Leaders2024 State Rankings
Top 10 Customized Workforce Training2024 State Rankings
Top 10 Semiconductors2024 State Rankings
#1 Best Business Climate (Large): Charlotte/Concord/Gastonia2024 Metro Rankings
Top 5 Food Processing: Charlotte/Concord/Gastonia2024 Metro Rankings
Top 5 Top Performing Container Ports: Port of Wilmington2024 Metro Rankings
Top 10 Life Sciences Growth: Raleigh/Durham2024 Metro Rankings
Top 10 Tech Talent Leaders (50k-125k): Raleigh/Durham-2024 Metro Rankings2024 Metro Rankings
From the July / August 2024 issue of Business Facilities

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