Market Update: Business is booming in North Carolina. Here’s why the trend could continue – Full Analysis

When Austin Rouse thinks of a 10-second business pitch for North Carolina, it boils down to one word: Workforce.

“That’s a real differentiator for us, when talking with companies,” said Rouse, the director of business recruitment at the Economic Development Partnership of North Carolina (EDPNC). “Whatever type of talent you need, we most often have a place that can serve that.”

The Tar Heel State is one of the fastest-growing states in the U.S., projected to reach 11.7 million people by 2030. And business is booming.

In 2025, CNBC named North Carolina the top state for business for the third time in the past four years. The EDPNC reported 72 project wins for business recruitment and new facility projects last year, announcing more than 28,500 jobs and $21.7 billion in capital investment.

In the Triangle alone, massive developments are underway from an 8,500-acre mixed-use project in Chatham County to Holly Springs’ Genentech plant, projected to add $3 billion to the state’s economy.

North Carolina’s success is in part due to its excellent business climate, Rouse said, fostering great community partnerships between identified sites and local municipalities. The state’s diversity offers competitive resources and communities, from the mountains to the Piedmont to the coast. All of these contribute to a strong state-wide talent pipeline.

“Whatever your needs are, as it relates to talent, we typically can find a good fit for companies to align those needs with a place in our state that is already doing successfully what a company is trying to embark on,” Rouse said.

This is especially true in the biotechnology and pharmaceutical industries, which are seeing rapid growth. According to the North Carolina Biotechnology Center, the state secured nearly $4 billion in life sciences investment across 18 companies during 2025. Those projects are expected to create 1,380 jobs in 10 communities.

The state’s emphasis on retaining talent and creating “highly educated workers,” especially in the Triangle, has made it a hotbed for biotech and pharma growth. Importantly for the Triangle, Rouse said, many people who graduate from universities in the area want to stay there, creating a strong foundation for attracting companies.

The EDPNC has seen an increasing interest in North Carolina in the past five to 10 years, Rouse said. He said the state’s mixture of ambition and execution has been a recipe for success.

“It’s a very positive story that we have in North Carolina, and we’ve seen it for a prolonged period of time,” Rouse said. “I think we’ll continue to see companies that are deeply interested in the state, and we’re just hoping that we continue to find good real estate options for them to consider.”