People are moving to North Carolina at twice the national

Selected Economic Indicators
Most recent value—N.C.
Total Population
Population growth &
demographic change
Labor force
& productivity
Firm growth
9,222,414
9.7%
Population growth
% Net migration
65.8%
Total labor force
4,564,778
Labor force growth
7.10%
Labor productivity
$77,713
Net firm creation rate
4.00%
Jobs in gazelle firms
8.50%
Analysis
2008 estimates rank N.C. as the 10th most populous state in
the U.S. with slightly more than 9.2 million people. Between
2003 and 2008, the state’s growth rate was 9.7 percent
when compared to a national average of 4.8 percent.
Approximately 65.8 percent of N.C.’s population growth can
be attributed to net migration (domestic and international).
Between 2003 and 2008, N.C.’s labor force grew by 7.1 percent,
exceeding the average national growth rate of 5.2 percent. Between
2002 and 2007, N.C.’s labor productivity grew by 8.5 percent, better
than the U.S. average of 7.1 percent. Labor productivity indicates the
state’s amount of output per unit of employment input. It is measured
in terms of state GDP per employed worker.
Between 2006 and 2007, N.C.’s net firm creation ranked above the
national average. N.C.’s percent of jobs in gazelle firms is better than
the U.S. average, 8.0 percent. Gazelle firms are companies with
annual sales revenue that has grown 20 percent or more for four
straight years.
People are moving to North Carolina at twice the national average.
The reasons why are still being explored.
The full 2009 North Carolina Economic Index is available at http://www.nccommerce.com/2009NCEconomicIndex/.
North Carolina Department of Commerce Selected Staff
J. Keith Crisco
Secretary
919.733.3449
[email protected]
Dale Carroll
Deputy Secretary
919.713.1374
[email protected]
Gene Byrd
Director of Business Retention and Expansion
919.715.7393
[email protected]
Stewart Dickinson
Director, Commerce Finance Center
919.715.6560
[email protected]
Susan Fleetwood
Director of Strategic Projects
919.733.9304
[email protected]
Ken Allen
Economic Development Representative,
Southeast Region
910.486.1549
[email protected]
Peggy Anderson
Economic Development Representative
919.733.4990
[email protected]
Bruce Andrews
Economic Development Representative
919.733.4986
[email protected]
Steve Brantley
International Economic
Development Representative
919.733.4989
[email protected]
Ron Leitch
Economic Development Representative,
Charlotte Region
704.547.5738
[email protected]
Rod Forsythe
Economic Development Representative
919.733.4987
[email protected]
Tiffany H. McNeill
Client Services Manager
919.733.4977
[email protected]
Bo Gregory
Economic Development Representative
919.733.4924
[email protected]
Cindy Messer
Economic Development Representative,
Western Region
828.654.9852
[email protected]
Dallas Hardenbrook
International Economic
Development Representative
919.733.4881
[email protected]
Tim Ivey
Economic Development Representative,
Northeast Region
252.482.2444
[email protected]
Martyn Johnson
International Economic
Development Representative
919.733.8572
[email protected]
Donna Phillips
Economic Development Representative,
Eastern region
252.355.9048
[email protected]
Vivian Powell
Economic Development Representative,
Research Triangle Region
919.840.9876
[email protected]
Susan Rather
One North Carolina Fund
919.733.3735
[email protected]
George Sherrill
Community Development Block Grants
for Economic Development
919.715.6559
[email protected]
David R. Spratley
Job Development Investment Grant
919.715.2064
[email protected]
N.C. Department of Commerce Update, Fall 2009
Garrett J. Wyckoff Jr.
Economic Development Representative
919.733.4907
[email protected]
Ellis Zaytoun
Economic Development Representative
919.715.0535
[email protected]
Mary M. Johnson
Industrial Revenue Bonds
919.733.0886
[email protected]
www.ThriveNC.com
www.ThriveNC.com
North Carolina has the tangibles that businesses need as well as a lifestyle
that helps employees flourish. We’ve got everything from top universities and
research that influences the world to a low cost of living and a pace of life
that lets people get out and enjoy their surroundings. Just a few of the many
reasons North Carolina consistently ranks at the top among places to live and
do business. Learn more about North Carolina and how
it has the right iNCentives for businesses to Thrive.
Selected announcements
Caye Home Furnishings
Industry sector: Furnishings
New jobs: 128
Financial investment: $1.4 million
Location: Taylorsville
New or expanding: New
TurboCare Inc.
Industry sector: Energy
New jobs: 110
Financial investment: $30 million
Location: Rural Hall
New or expanding: Expanding
Biotage LLC
Industry sector: Biotechnology, pharmaceuticals
and life sciences
New jobs: 21
Location: Charlotte
New or expanding: New
DuPont
Industry sector: Chemicals, plastics and rubber
New jobs: 10
Financial investment: $55 million
Location: Fayetteville
New or expanding: Expanding
Deutsche Bank AG.
Industry sector: Business and financial services
New jobs: 319
Financial investment: $6.7 million
Location: Cary
New or expanding: New
September 20, 2009
Caye Home Furnishings LLC manufactures living room furniture and case goods,
including products marketed under the Stratford and Stratolounger name brands.
The new Taylorsville plant will assist the company in meeting a growing market
in the Northeastern U.S.
September 8, 2009
TurboCare Inc. is a subsidiary of Siemens Energy that provides turbomachinery
parts and services to companies around the world. The company offers service
solutions in the industrial and power generation markets in more than 100
countries and provides a complete range of component repair, equipment
refurbishment, system retrofits, engineering and parts replacement services.
August 20, 2009
Biotage LLC, a Swedish company that develops and manufactures instruments
and consumables for pharmaceutical research, is a leading supplier of tools and
technology for medicinal and analytical chemistry and process development.
The Charlotte facility will be the North American headquarters.
August 20, 2009
DuPont offers a wide range of innovative products and services for markets,
including agriculture, nutrition, electronics, communications, safety and
protection, home and construction, transportation and apparel. The new plant
will produce polymer for Dupont™ Tedlar® polyvinyl fluoride film used in the
protective backsheets of photovoltaic solar panels. These panels convert light
into electric power.
August 13, 2009
Deutsche Bank is a leading global investment bank. The Cary facility will be a
technology development center operating as DB Global Technology Inc, a newly
formed subsidiary of Deutsche Bank Ag.
Buildings and sites
database redesign
The Department of Commerce recently launched
a redesigned Certified Sites Program.
The purpose of North Carolina’s Certified Sites
Program is to provide a statewide inventory of
industrial sites that have undergone a rigorous
prequalification process to ensure they meet
a consistent set of standards. North Carolina’s
Certified Sites Program began in 2001 in response
to the rapidly changing pace of economic
development and the need to have more sites
immediately ready for development. It was one
of the first programs of its kind in the nation.
Since then, more than 95 sites in 50 counties,
totaling almost 25,000 acres, have earned the
Certified Sites designation in North Carolina.
A Certified Site reduces the risks associated
with development by providing detailed
information about a site, including price and
availability, utilities, access, environmental
concerns and potential development costs.
The new Certified Sites requirements incorporate
new criteria to improve the quality of information
about each site and reduce risk to the client. The
updated criteria clarify and require greater detail
for some elements to provide better information
about the development costs associated with the site.
They also improve the process of certification by
creating a Steering Committee, a Technical Review
Committee and a Program Coordinator, as well as
requiring communities to notify the Department of
Commerce earlier in the process of a community’s
intent to certify. The new requirements also call
for communities to periodically recertify sites
to ensure continuing accurate, reliable data.
Seven communities, representing 13 different
sites, already have initiated the process to certify
sites utilizing the new program criteria.
# 6 “America’s Top States
for Business”
CNBC’s annual ranking that rates all 50 states’
business climates based on 10 factors.
# 3 in Pollina Pro-business
States Report
Pollina Corporate Real Estate annually ranks the
50 states based on 33 factors, including taxes,
human resources, right-to-work legislation,
energy costs, infrastructure spending, workers’
compensation laws, economic incentive programs
and state economic development efforts.
Some of the most important features
of the new system include:
Expanded search—ability to search on
more fields and use keywords and specialty areas
(wet lab, clean room, freezer space, hanger, etc.)
Enhanced mapping features—
integrating with Google® maps
Improved reporting—updated look,
more property details and predefined drive-time
and distance reports related to demographic
information (workforce, population, businesses)
Increased flexibility to upload
additional information
about property—marketing
materials, multiple images and more
The redesigned database is currently
planned to go live in the fall of 2009.
Selected metrics YTD 2009
North Carolina gets noticed
# 2 for job growth and business
Chief Executive Magazine ranks states on a
broad range of issues pertaining to business
climate based on interviews with 543 CEOs.
The new database will be integrated with the
existing Economic Development Intelligence
System (EDIS) and will provide significantly
more functionality for system users.
# 2 for workforce
A component of CNBC’s annual ranking of
“America’s Top States for Business” which looks
at factors, including education level, available
workers, union memberships and the relative
success of the state’s worker training program.
2009 Metro Rankings
Business Facilities annual assessment of the top
cities, towns and MSAs in multiple categories.
Top metros for quality of life—
#5 Raleigh-Durham; #8 Asheville
Top metros for economic growth potential—
#1 Charlotte
Top metros for economic growth potential—
#2 Winston-Salem (under 200k population)
Top metro manufacturing hubs—
#5 Greensboro (under 300k population)
315
5%
projects assigned
74
28%
projects announced
$1.945B
54%
capital invested
8,200
44%
jobs created
2009 vs. 2008 comparison, year to date
through September 10, 2009