#3 North Carolina


8.00 out of 10 in Taxation and Regulation

6.94 out of 10 in Workforce Quality

8.11 out of 10 in Living Environment

Right to Work?


A Growing Base for Educated Talent

The rapidly growing state of North Carolina now has more than 10 million residents and is the ninth most populous state in the U.S. Well- respected universities such as Duke and UNC Chapel Hill contribute to the strong talent base. Credit Suisse announced in May 2017 that it would invest $70 million and add 1,200 jobs to its Raleigh operations. Many of these jobs are being relocated from New York City and other areas to help reduce costs.

From the Governor

“North Carolina has so much to offer growing companies, including our celebrated universities and community colleges, highly skilled workforce, competitive business climate and outstanding quality of life.” —Gov. Roy Cooper

Key Industries

Film, Nanotechnology, Sciences

Key Companies

Credit Suisse
Deutsche Bank
Fidelity
Goldman Sachs
Goodrich
Jeld-Wen
Lowe’s

Key Contacts

Economic Development Partnership of North Carolina

Christopher Chung, Chief Executive Officer
(919) 447-7788
5000 Weston Parkway
Cary, NC   27513-2118
christopher.chung@edpnc.com
https://edpnc.com/why-north-carolina/

Key Incentives

Job Development Investment Grant (JDIG): Provides cash grants to offset the cost of locating or expanding a facility. Approved companies will be reimbursed up to 100% of withholding taxes for up to 25 years for new jobs.

One North Carolina Fund: Enables the governor to respond quickly to competitive job-creation projects with awards based on the level of investment, number of jobs created and location of the project.

North Carolina Community College System Customized Training Program: Offers free and customized workforce training through the state’s 58-campus community college system for new and expanding companies.

Building Reuse Program: Offers grants such as the Community Development Block Grant Building Reuse program and Rural Division Building Reuse program to renovate vacant industrial and commercial buildings.

EDCs

Economic Development Partnership of North Carolina: edpnc.com

North Carolina Department of Commerce: nccommerce.com

Raleigh Economic Development: raleigh4u.com

Charlotte Regional Partnership: charlotteusa.com

Highlighted Program or Initiative

North Carolina Technology and Innovation Hub in Raleigh will support Infosys’s clients and develop a robust training program with the North Carolina Community College System.

Big Deals

  • CSX announced in July 2016 it would build a $160 million intermodal rail terminal and create 149 new jobs in Rocky Mount.
  • Credit Suisse announced in May 2017 it will hire an additional 1,200 workers and construct a $70 million building at its campus in Research Triangle Park.
  • Austrian company EGGER Wood Products announced in July 2017 it would establish its first U.S. manufacturing plant in Davidson County with a $700 million investment and 400 new jobs over the next six years.
  • Allstate Insurance announced plans in August 2017 to expand its Charlotte operations center and add 2,250 new jobs by 2020.
  • IT outsourcing firm Infosys selected Raleigh in September 2017 for its new innovation and technology hub.

Big Companies

12 Fortune 500 companies headquartered in state, including:
Bank of America
Lowe’s
Duke Energy
Nucor
Reynolds American
VF
BB&T
Sonic Automotive
Laboratory Corp. of America Holdings

C-Suite Testimonials

“GKN Driveline is a global leader in the automotive industry and our innovative all-wheel drive and eDrive technologies position the company for growth in the coming years. North Carolina is an important part of our strategy, with strategically located facilities and an outstanding workforce.” —Phil Swash, CEO, GKN Driveline

“Access to first-rate talent, the ability to work with highly innovative companies and superb higher education resources drew us to Research Triangle Park, and the area continues to impress us as a great place to do business.” —Dr. Ludo Reynders, CEO, Premier Research

“We looked at locations everywhere, including Seattle, Texas and Atlanta. Overall, North Carolina and Greensboro met our criteria best.” —Michimasa Fujino, President and CEO, Honda Aircraft

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