North Carolina continues to be a leading state for business, securing a No. 2 ranking in this year’s CNBC annual competitiveness study. This ranking follows the state achieving the top spot in both 2022 and 2023, and consistently placing in the top 10 since the study’s inception in 2007, often landing in the top five.
In 2023, North Carolina excelled across various metrics, ranking No. 1 in workforce, and placing in the top 10 for economy, technology and innovation, education, and access to capital.
The state’s business-friendly policies attracted significant economic development investments in the Charlotte Region. Railcar pooling company TTX selected Charlotte for its new headquarters, investing at least $13.8 million and creating 150 new jobs in the central business district. Additionally, Dura Supreme announced a multi-million-dollar manufacturing site in Statesville, expecting to create more than 200 new jobs.
These successes continued into 2024, with Siemens Energy, one of the world’s leading energy technology companies, investing over $100 million to expand its operation, including an advanced manufacturing facility in Charlotte that will bring 475 new jobs to the area.
CNBC noted that in 2024, infrastructure is the heaviest weighted category for the first time, with increased importance placed on access to capital and business friendliness. North Carolina improved in this year’s rankings in quality of life and business friendliness.
South Carolina has also made notable strides, securing a ranking of 19, up 8 spots from 2023. The state improved in workforce, quality of life, cost of doing business, technology and innovation, business friendliness, and access to capital.
The Charlotte Regional Business Alliance continues to champion business-friendly policies that drive economic growth and ensure both states remain premier destinations for business. In 2024, key advocacy efforts included securing upgrades for Bank of America Stadium, the signing of several workforce priorities into law in South Carolina, and the advancement of quality-of-life legislation in North Carolina.
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