Region: Southeastern Region
Capital City: Raleigh
State Governor: Josh Stein
Secretary of Commerce: Lee Lilley
Principal Cities: Charlotte, Greensboro, Durham, Winston-Salem, Fayetteville
With a GDP comparable to Switzerland, North Carolina is home to over 10.8 million residents and strategically located in the heart of the East Coast. The state boasts world-class airports in Charlotte and Raleigh, offering direct connections to Europe and markets across the US.
More than 900 European companies already operate in North Carolina, benefiting from its business-friendly climate, low corporate income tax rate (2.25%), and high quality of life. CNBC consistently ranks North Carolina among the top three “Best States for Business.” Learn more
The state’s diverse economy excels in several sectors:
North Carolina has the largest manufacturing workforce in the Southeastern United States and is home to the largest research and technology park in North America—Research Triangle Park (RTP). RTP hosts 50,000 tech professionals, supported by a robust university and research ecosystem. Learn More.
The state’s academic and R&D institutions include NC State University, Duke University, the University of North Carolina at Chapel Hill, the NC Biotech Center, and the Nonwovens Institute at NC State University. Additionally, its technical colleges and professional schools often follow the German Dual Education Apprenticeship System, providing hands-on training and education.
North Carolina is also the third-fastest-growing state in the US, ensuring a skilled and dynamic workforce to support your business.
Click on the categories to learn more.
North Carolina’s commitment to innovation and state-of-the-art research and educational facilities has transformed North Carolina into a forward-thinking, knowledge-based economy with the largest advanced manufacturing workforce in the southeastern United States. Our labour force of 5.2 million is growing daily. North Carolina is one of the fastest growing states by population with more than 340 new residents moving to the state each day.
As a Right-to-Work state, North Carolina boasts an impressive array of vocationally trained workers and those with advanced degrees. North Carolina has the largest manufacturing workforce in the southeastern United States, and our talent pipeline is full of roughly 158,000+ postsecondary degree and certificate recipients each year.
North Carolina has 52 colleges and universities, among which are three Tier 1 research universities — NCSU, Duke and the UNC. The publicly funded university system draws students from all over the world to its 16 institutions. Additionally, NC enrolls more than 393,000 students each year at the 58-campus community college system state-wide, offering some of the most comprehensive and advanced vocational and technical programs in the United States.
North Carolina is recognized for its pro-business environment:
CNBC named North Carolina as second best state to do business and in the top three for the fifth year in a row thanks to our well-trained and diverse workforce, booming economy, and strong business environment. In 2019, North Carolina ranked third; in 2021, the state ranked second; and in both 2022 and 2023 North Carolina ranked first. North Carolina’s corporate income tax rate is 2.25%, and is phasing down to 0% by 2030, when the tax will be eliminated.
North Carolina’s business costs rank among the lowest in the nation, making it a more profitable place to work: Building costs: 17% below the national average. Electricity costs: 30 % below the national average. Cost of living: 5 % below the national average.
North Carolina’s prime location on the eastern seaboard means that almost half of the U.S. population is within a day’s drive. Four international airports, two deep water seaports and a strong rail system further enhance the state’s supply chain advantages:
Airports:
Sea Ports:
Rail: Largest consolidated rail system in the country
North Carolina’s rail connections extend all the way to the coast, enabling the state ports in Morehead City and Wilmington to offer import and export services to a large market:
North Carolina’s targeted, performance-based incentive programs help companies that are locating and doing business in North Carolina by lessening the tax burden and lowering overall costs to the company.
With a moderate climate throughout the year, North Carolina is renowned for its natural beauty and diverse geography. Residents and visitors can enjoy the iconic mountains on the western end of the state, bustling city skylines in the middle region, and 300 miles of beautiful beaches on the coast.
With cost of living well below the national average, an affordable healthcare and great educational system, North Carolina also offers a wide variety of cultural and outdoor recreational activities.
1
North Carolina excels in industrial components and advanced metallurgy, serving key industries such as automotive, aerospace, defense, and machinery production. The state is a vital part of Southeastern supply chains, supporting major companies like BMW, Toyota, Volvo, Daimler, Continental, Bridgestone, Caterpillar, Linamar, HondaJet, Honeywell, Siemens Energy, Schneider Electric, Airbus, ABB, Pratt & Whitney Aerospace, GE Aviation, and other leading industrial OEMs.
4
North Carolina is home to a thriving technology network and workforce, that creates and supports a collaborative network of industry, academia and government partners who work together on critical research and technologies that have commercial and military applications. The state ranks 4th in active-duty military presence and is home to six major Army, Marine Corps, Air Force, and Coast Guard bases, along with over 100 National Guard and Reserve facilities.
Fort Liberty, the largest Army base in the United States, is in North Carolina. The Marine Corps maintains a strong presence with Air Station Cherry Point, Air Station New River, and Camp Lejeune, complemented by the Military Ocean Terminal at Sunny Point. Additionally, the Air Force operates Seymour Johnson Air Force Base in the state.
7
Data analytics and software development are a core element of the local strengths, with companies such as Apple, Google, IBM, SAS, Red Hat (was founded by the inventor of Linux in North Carolina), Citrix, Cisco and Microsoft. North Carolina is one of the fastest-growing and top-performing tech ecosystems in the nation. The state’s technology sector grew by 20% in the last five years, largely supported by rapid growth in the clean energy and life sciences tech clusters. An active part of the state’s growing tech presence is its dynamic entrepreneurial environment, which has been a driving factor for continuously strong private and equity funding.
2
North Carolina, the birthplace of aviation and site of the first-ever successful flight in 1903, continues to innovate and propel the aerospace industry to new frontiers. The state has over 300 leading aerospace manufacturers supported by supply chain partners with specialities in machinery, textiles, chemicals, and avionics for aircraft manufacturing. The major industry sectors include airplane assembly and parts manufacturing, maintenance, repair, and overhaul facilities, and drone research and development firms.
5
The City of Charlotte offers the 2nd largest banking hub in the USA, hosting two of the five largest US banks, including Bank of America and Truist, plus a growing FinTech community. By combining North Carolina’s exceptional talent with its spirit of innovation, local startups and financial giants alike have been at the forefront of innovation in the financial space.
8
With over $1.6 billion in textile exports in 2019, North Carolina is a leading hub for textile and nonwovens manufacturing. The state hosts 1,200 textile and textile product mills, and is home to the second-largest textiles workforce in the country. Advanced Materials including military uniforms and equipment, synthetic fibers, nonwoven applications, environmental protection products, industrial and automotive filters, and apparel create a unique cluster in the US in terms of technological know-how. North Carolina State University’s globally recognized College of Textiles leads the nation in nonwovens research and industry partnerships.
More about Textiles / Textiles-Brochure.pdf
10
North Carolina is the 4th-largest US state for food and beverage processing, with over 1200 manufacturing establishments and 150 million customers within one day’s drive. North Carolina’s strong food and beverage manufacturing industry enjoys convenient access to local and regional suppliers. The industry includes a variety of clusters including agriculture, confectionary manufacturing, snack production, and the third-largest animal processing cluster. North Carolina is also home to the origin of Krispy Kreme Doughnuts, which laid the foundation in 1937 for its strong pastry industry.
3
With the largest biologics manufacturing cluster in the USA, North Carolina competes on a global level, particularly in gene and cell therapies, plant science, regenerative medicine, and advanced vaccine research. The state is also home to the nation’s largest research park (RTP) which is comprised of 250+ companies and 50,000+ employees with industry specializations including biotechnology and pharmaceuticals. The RTP is also home to the North Carolina Biotechnology Center and the First Flight Venture Center.
6
North Carolina is leading the clean energy economy transition. Through legislation and action, the state is diversifying its energy resources to attract investments in sustainable, low-cost options.
The state is 2nd US state in solar generation, 1st in the Southeast for wind energy potential, and approved plans for offshore wind farms. These developments are backstopped and supported by the largest electric utility provider in the US, headquartered in Charlotte, North Carolina: Duke Energy.
Clean Energy / Duke Energy Interview / Clean Energy White Paper
9
North Carolina has the largest furniture manufacturing cluster in the country, comprised of more than 800 furniture manufacturers and 33,000 workers. North Carolina also hosts the High Point Market – the world’s largest furnishings industry trade show, bringing more than 75,000 attendees to High Point twice a year. The market hosts more than 2,000 exhibitors, with more than 100 countries represented.
We provide free of charge market entry services, real estate assistance, sector-specific business information, strategic introductions to universities, technical colleges, and professional recruitment channels, as well as fiscal incentives.
Our state agency helps companies who are considering launching new operations or expanding existing ones in the USA through governmental support. EDPNC can assign financial & tax incentives while sharing strategic contacts offered by the State of North Carolina.
The European office of the Economic Development Partnership of North Carolina is led by Luigi Mercuri.
The EDPNC is supported by North Carolina´s Department of Commerce. We assist European companies in English, German, French, Italian and Spanish.
If you have further questions or would like to receive additional information on how we can support your business growth and US presence in North Carolina, please contact Luigi Mercuri (contact information below).
Managing Director of Investment Europe
Economic Development Partnership of North Carolina
Input your search keywords and press Enter.
