North Carolina Commerce Secretary Machelle Baker Sanders shared her perspective on the state’s economy last week with CLT Alliance investors.
“Charlotte is one of the fastest growing metro areas in the country,” Sanders observed in her opening remarks.
She applauded the collaborative work of the CLT Alliance, which has contributed to the tremendous economic growth seen in the region.
Sanders noted the many economic development successes for North Carolina in 2021, sharing that the state broke records last year with 174 projects, 24,000 new jobs, and $10 billion in investment promised to the state.
Sanders acknowledged partnerships that make much of this success possible: “In large part, we owe our business alliance, economic development, and chamber partners across the state a big thank you for this success. We appreciate the vital work that is going on across communities.”
First in Talent and Workforce Development
Sanders outlined a major initiative in her office, “First in Talent,” which is the strategic economic development plan that she is leading for the state.
“We launched ‘First in Talent,’ the economic development plan for North Carolina – that plan places a renewed emphasis on preparing our state’s workforce for jobs today and jobs for tomorrow,” Sanders said.
She added that a key factor in ensuring the success of the plan is continuing to align workforce development with business recruitment and economic development.
“We must have continued investment in our workforce to ensure that employers have a pipeline to meet their needs,” Sanders continued. “The ability to find high-quality workers has become the single most important issue in North Carolina’s competitiveness.”
The “First in Talent” plan has three overarching goals:
- Prepare North Carolina’s workforce for career and entrepreneurial success.
- Prepare North Carolina’s businesses for success by growing and attracting a talented workforce.
- Prepare North Carolina’s communities to be more competitive in growing and attracting businesses.
Sanders shared that the future is bright for North Carolina’s talent pipeline, but challenges remain. More job-ready and shovel-ready sites are needed to continue the state’s growth. Businesses want to start production as quickly as possible, and shovel-ready sites will facilitate winning business expansion competitions in Charlotte and across North Carolina.
According to Sanders, addressing recidivism is a key component in tackling workforce shortages. In assisting individuals with reentry into the workforce, she sees, “great promise in filling jobs, recruiting talented individuals, and helping make families across the state even stronger.”
Innovation
With her background in the pharmaceutical and biotechnology industries, Sanders appreciates the need for supporting innovation. Indeed, innovation is a competitive advantage for the state. She also shared that innovation should be a mindset that starts in pre-k and continues throughout the education system and into the workforce.
“It is so important that we have a talent pipeline of innovators to make North Carolina continue to stand in a strong position,” Sanders said.
Diversity, Equity, and Inclusion
Sanders hired the first Chief Diversity, Equity, and Inclusion (DEI) Officer at the North Carolina Department of Commerce. DEI is a part of all of the work being done at the department, she said. Sanders has met with economic developers from across the country to learn about what is important to them in making business location decisions. DEI frequently comes up as a priority, she said. Economic development consultants want to see a diverse talent pool and to understand how the diverse population is faring within the state’s economy. In summarizing her conversations with economic developers, Sanders wants a clear message to be sent from North Carolina that, “diversity is welcome when it comes to commerce and economic development.”
Infrastructure
Infrastructure plays a pivotal role in economic development. Sanders emphasized the importance of shovel-ready sites and buildings when competing for business relocations. Water, sewer, utilities, road improvements, and access to transit can all be a deciding factor in a competitive process. Sanders advised CLT Alliance investors to do an assessment of their area, understand where the gaps are, and then advocate for investment in those areas so you have sites ready to be competitive.
The CLT Alliance thanks Secretary Sanders for joining our investors and sharing her vision for the state’s economy. We look forward to working with her to keep North Carolina competitive for continued growth.
