Why North Carolina is the Best Place for Business

North Carolina is a great place to do business, and it's no surprise that it has been ranked as the number one state in the country by both CNBC and Business Facilities magazine. The state has a competitive labor market, with low unemployment rates and high demand for skilled workers. Its strong finances are the cornerstone of the country's main economy, as measured by the CNBC study, and its credit rating is impeccable. Last year, North Carolina saw an impressive 6.7% economic growth and 3.6% employment growth, according to government statistics.

The Triad area has become a key point in the state for development, with the arrival of Boom Supersonic at Piedmont Triad International Airport and the Toyota battery plant at the Greensboro-Randolph megasite. North Carolina institutions are also among the top recipients of research funding from the National Science Foundation and the National Institutes of Health, and the state ranks high in cryptocurrency mining. North Carolina Department of Commerce officials are proud of these rankings, which are due to significant economic development and bipartisanship among legislators in the area of economics. The state offers easy access to domestic and international markets, making it an attractive option for businesses.

Incentives and budget agreements have also contributed to its success. However, North Carolina remains one of five states with no law protecting residents without disabilities from discrimination, according to the National Conference of State Legislatures. CNBC outlines more of North Carolina's competitive advantages, as well as opportunities for improvement. “We will continue to invest in the future, which looks promising for businesses and for all other North Carolinians,” said North Carolina Secretary of Commerce, Machelle Baker Sanders.

North Carolina is home to some of the world's leading companies and brands, such as Bank of America, Lowe's Companies, Hanesbrands, Quintiles Transnational Corp, Compass Group, Total, Duke Energy, PRA Health Sciences, Duke University, BB%26T and Carlisle Companies.

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