NC Makes Top 10 Lists in Business Facilities' "Annual State Rankings Report"

by Amanda Harrison, on 7/31/19 3:00 PM


Business Facilities just came out with its 15th Annual State Rankings Report. They had this to say at the very beginning:

Our 15th annual rankings report maintains BF’s standard for credible and comprehensive results. Rankings categories may evolve over time, but our commitment to an unbiased assessment of valid metrics never wavers.

BF took great care to remind everyone that rankings aren’t the end all/be all of a state’s status. There are so many different data points and nuanced details that go into trying to compose these lists that it’s nearly impossible to report everything

A state may have the largest installed capacity of a certain type of renewable energy, but that state won’t meet its renewable energy portfolio standard’s goal if only 10 percent of its electricity is generated from renewables.

What BF has attempted to do with this list is showcase a “snapshot in time.” Their rankings “measure the state of play: not just who’s on top, but also who’s moving up the ladder, how fast they’re moving and who has the best chance to succeed.”

Without further ado, here’s how North Carolina fared.

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The nation is finally beginning to wake up and realize that NC can be an economic leader. Our growth potential beat out places like Colorado and Virginia, but it was noted that all three states have established highly diversified growth strategies and staked a claim to leadership in high-tech hubs.

With attractive business incentives and a diverse group of industries, it’s no wonder corporations are being lured to the Tarheel State.

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Over the past few years, you might have noticed a growing number of solar farms in NC. Research into alternative fuels is the future of the industry and we are at the forefront of it, as home to one of the biggest large-scale solar array players- Cypress Creek Renewables.

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One of the big ways that NC leaders have helped to grow our state is by offering incentives to businesses. That’s how we got Lowe’s to open a $153 million technology center in Raleigh. 

Opportunity Zones are incentives established by Congress designed to encourage long-term investments in low-income urban and rural communities nationwide by providing a tax incentive for investors to re-invest their unrealized capital gains into dedicated Opportunity Funds.

Other categories where NC made the top ten are: Workforce Training Leaders (8th), Top Manufacturing States (Employment) (9th), Installed Solar Power Capacity (MW) (2nd), FDI (Projects) (8th), Biotechnology Strength (3rd), Unmanned Aerial Systems (4th), Tech Jobs Growth (4th), and Semiconductors (9th).

The future is bright and we're confident North Carolina will continue to be a leader.

To see the full list and analysis, head over to the Business Facilities’ website by clicking here

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Topics:IncentivesNorth CarolinaBusiness RelocationRankingsManufacturingEconomic DevelopmentWorkforce Development

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