#4 North Carolina
From the Governor
“Leading manufacturers with first-hand experience of what it’s like to do business in North Carolina time and again choose to expand in our state…Industrial companies know our state has a healthy market, a skilled workforce and communities ready to grow with them.” —Gov. Roy Cooper
Manufacturing a Bright Future
The Tar Heel State remains a national leader in manufacturing, leading the state in GDP contribution at 20% and employing more than 460,000 workers, according to the National Association of Manufacturers. Lowe’s, Merck, Xerox, Advanced Auto Parts and Honeywell have all announced major projects here in recent years. .
Job Development Investment Grant: A performance-based, discretionary incentive program that offers cash grants to new and expanding companies, based on a percentage of personal income tax with- holdings associated with new jobs created.
One North Carolina Fund: A discretionary cash grant program that enables the governor to quickly respond to job creating competitive projects considering locations outside of North Carolina.
JDIG for a High-Yield Projects: Offers a JDIG grant worth up to 90% of personal income withholdings for up to 20 years for a company that creates 1,750 jobs and invests at least $500 million in a project.
JDIG for a Transformative Project: Offers up to 90% of personal income withholdings for up to 30 years for a company that creates 3,000 jobs at invests at least $1 billion.
Economic Development Partnership of North Carolina: edpnc.com
North Carolina Department of Commerce: nccommerce.com
City of Raleigh Economic Development: raleigh4u.com
Charlotte Regional Business Alliance: charlotteusa.com
Highlighted Program or Initiative
The NC Job Ready Fund is dedicated to training and growing the state’s workforce to fill jobs of today and tomorrow. Components include NC GROW (Getting Ready for Opportunities in the Workforce), Finish Line Grants and the Employer Training Fund.
- Advance Auto Parts announced in November 2018 it will relocate its corporate headquarters from Virginia to Raleigh.
- AvidXchange announced in December 2018 it will create 1,229 jobs at a $41 million expansion of its Charlotte headquarters.
- Honeywell announced in December 2018 it will relocate its corporate headquarters from New Jersey to Charlotte. The $248 million investment will create 750 jobs.
- Lowe’s announced in June 2019 it will create 2,000 jobs and build a $153 million global technology center in Charlotte.
- Merck announced in July 2019 it will invest $650 million and create more than 400 jobs at a new facility in Durham and existing operation in Wilson.
- Xerox announced in August 2019 it will create 600 jobs and invest $18.4 million in a Center of Excellence in Cary.
12 Fortune 500 companies are headquartered in the state, including:
Bank of America
Laboratory Corp. of America
Advanced Auto Parts
“Being home to a host of tech companies and educational institutions, North Carolina was a logical choice for us.” —Naresh Shanker, Senior Vice President and Chief Technology Officer, Xerox
“The talent pipeline we’ve been able to attract to our Durham operation as a result of the strong life sciences presence in the region has been outstanding, making it the ideal location to help fuel our future growth.” —Jamie Macdonald, CEO, Parexel International Corporation
“Our industry and our company are in the midst of a major technology and business transformation… North Carolina’s deep bench of information technology and software development talent was a key driver of our decision.” —Tom Greco, President and CEO, Advance Auto Parts