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North Carolina Ranked Americas Top State for Doing Business Again in 2023
With a world-class workforce and a booming economy, North Carolina repeats as America’s Top State for Business in 2023
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North Carolina tops CNBC’s state business competitiveness rankings for the second year in a row as workers flock to take advantage of a booming economy and the growing operations of companies including Apple within the state .At a time when companies are clamoring for workers while trying to navigate a treacherous economy, no state is meeting their needs more effectively than North Carolina. The Tar Heel State is America’s Top State for Business in CNBC’s annual competitiveness study.
It is the second consecutive year at the top for North Carolina — a rare feat in the CNBC study, which launched in 2007. Business and the economy in the state have been on a tear since the pandemic, and the state has scarcely looked back.
In 2023 alone, the state has amassed a trophy case full of economic development wins, ranging from a $130 million investment by Bosch to expand its power tool manufacturing facility in Lincolnton, to a $458 million biomanufacturing facility to be built in Greensboro by cellular therapeutics company ProKidney, and even a $58 million turkey production facility in Goldsboro by poultry breeder Select Genetics.
The projects come on top of major wins last year, including Vietnamese electric vehicle manufacturer VinFast announcing it will build its first North American plant in the state, and Durham-based semiconductor materials manufacturer Wolfspeed expanding its operations there.
Last month, Apple filed applications to begin work on its $1 billion facility in the famed Research Triangle Park announced in 2021, with 700,000 square feet of office space in its initial phase. It is Apple’s first hub on the East Coast.
A common thread through all the projects is people.
“Our talented, educated workers are the foundation of our economic success,” said Gov. Roy Cooper, a Democrat, in his state of the state address in March.
The numbers bear that out. North Carolina ranks first in the all-important Workforce category of CNBC’s study. In particular, the state is a leader in attracting and retaining talent across a range of industries, said Josh Wright, an executive vice president with labor market analytics firm Lightcast, which provided some of the data for the CNBC study.
Read the article in the link for more details.
It is the second consecutive year at the top for North Carolina — a rare feat in the CNBC study, which launched in 2007. Business and the economy in the state have been on a tear since the pandemic, and the state has scarcely looked back.
In 2023 alone, the state has amassed a trophy case full of economic development wins, ranging from a $130 million investment by Bosch to expand its power tool manufacturing facility in Lincolnton, to a $458 million biomanufacturing facility to be built in Greensboro by cellular therapeutics company ProKidney, and even a $58 million turkey production facility in Goldsboro by poultry breeder Select Genetics.
The projects come on top of major wins last year, including Vietnamese electric vehicle manufacturer VinFast announcing it will build its first North American plant in the state, and Durham-based semiconductor materials manufacturer Wolfspeed expanding its operations there.
Last month, Apple filed applications to begin work on its $1 billion facility in the famed Research Triangle Park announced in 2021, with 700,000 square feet of office space in its initial phase. It is Apple’s first hub on the East Coast.
A common thread through all the projects is people.
“Our talented, educated workers are the foundation of our economic success,” said Gov. Roy Cooper, a Democrat, in his state of the state address in March.
The numbers bear that out. North Carolina ranks first in the all-important Workforce category of CNBC’s study. In particular, the state is a leader in attracting and retaining talent across a range of industries, said Josh Wright, an executive vice president with labor market analytics firm Lightcast, which provided some of the data for the CNBC study.
Read the article in the link for more details.
