North Carolina has won the 2025 Platinum Shovel Award, a recognition given to states that attract exceptional economic development projects. South Carolina also earned a Silver Shovel Award.
The national honors reinforce the Carolinas as a premier destination for business growth, elevating the region’s competitiveness and spotlighting its economic momentum.
Every year, Area Development recognizes states that stand out for their ability to attract high-impact economic development projects. Using data submitted by state economic development agencies, the corporate site selection and relocation magazine evaluates the top projects based on job creation, capital investment, diversity of industry, and each state’s overall economic strategy. Gold and Silver Shovel Awards are given out in five population categories to ensure fair comparisons, and in recent years, Area Development added Platinum and Green Shovel Awards to highlight standout overall performance and leadership in environmentally sustainable development, respectively.
In its 20th Annual Shovel Awards, Area Development named North Carolina as this year’s Platinum Shovel Award winner. South Carolina is one of three Silver Shovel Award winners with populations of 5 to 8 million people.
“These awards are a testament to the strong business climate in North and South Carolina,” said Tracy Dodson, Chief Operating Officer and Head of Economic Development at the Charlotte Regional Business Alliance. “They validate the Carolinas’ momentum and reinforce its position as a national leader in attracting transformative business investments.”
North Carolina
“North Carolina earned this year’s Platinum Shovel with a remarkable blend of scale, sectoral breadth, and future-forward vision,” Area Development magazine reads. “At the heart of the state’s success are four standout Projects of the Year — each reinforcing a different aspect of North Carolina’s competitive advantage.”
The four North Carolina projects are as follows:
- A $4.1 billion commitment from Novo Nordisk is adding 1,000 jobs for a pharmaceutical production campus expansion in Clayton.
- FUJIFILM Diosynth Biotechnologies is investing $1.2 billion in its biologics manufacturing facility in Holly Springs, creating 680 new jobs.
- With a $1.4 billion investment, Natron Energy is building a battery component plant in Edgecombe County, adding 1,000 jobs.
- Boviet Solar is launching a nearly $300 million solar manufacturing facility in Greenville.
Several other announced projects support these investments, including IQE’s $305 million semiconductor expansion in Greensboro, Nipro’s $398 million medical device project in Greenville, and a trio of new and expanded facilities from Johnson & Johnson, Reckitt, and SCHOTT Pharma in Wilson County.
“Whether it’s chips, drugs, batteries, or solar cells, North Carolina has emerged as a magnet for capital and innovation,” Area Development’s announcement reads. “Its well-coordinated ecosystem — from community colleges to logistics corridors — has proven to be more than ready for today’s advanced industries. That’s why, in 2025, North Carolina stands alone at the top of the Shovel Awards podium.”
South Carolina
“South Carolina’s win revolves around a remarkable surge in battery-related investment — an unmistakable trend that’s turning the state into a vital hub for the EV and energy storage supply chain,” Area Development reads.
The magazine recognized the following investments in the Palmetto State:
- AESC announced a $1.5 billion investment in Florence, which is expected to create more than 1,000 jobs in EV battery production.
- EnerSys is bringing $500 million to Piedmont for advanced battery components manufacturing.
- Boeing South Carolina is expanding its Charleston footprint with a $1 billion aerospace investment.
- Birla Carbon is infusing $1 billion into its Orangeburg operations.
- Google committed $1.3 billion across multiple data center campuses in Moncks Corner, St. George, and Ridgeville.
- Meta added another $800 million in Graniteville.
The news comes just after the Charlotte Regional Business Alliance was recognized with the Mac Conway Award for Excellence in Economic Development by Site Selection Magazine. Read more about the achievement here.
