CHARLOTTE, N.C. — Business Facilities magazine has recognized North Carolina as the 2022 "State of the Year" in economic development for the second time. The magazine, a preeminent publication on economic development and business recruitment around the U.S., also awarded the Tar Heel State this honor in 2021.
In awarding this top honor, Business Facilities magazine analyzes indicators of economic development, including industry growth, job creation, capital investment, education and business climate.
“A succinct regional economic development strategy in recent years has propelled North Carolina, and 2022 was another banner year for the state in capital investment and jobs creation,” said Anne Cosgrove, Business Facilities' Editorial Director.
Beyond these traditional indicators, North Carolina's business-friendly climate has attracted diverse industry growth and innovation.
"Paired with world-class education and R&D resources, the support of incentives and programs from organizations at all levels for a variety of industries, including high-growth sectors such as electric vehicles, made the state our choice for top recognition this year," said Cosgrove.
In a press release, Governor Roy Cooper praised North Carolina's "State of the Year" recognition.
"North Carolina is the best state in which to live, work, raise a family and do business,” Governor Cooper said. “We'll continue to invest in our talented workforce, transition to a clean energy economy and bring more good-paying jobs to every corner of the state.”
In December, Governor Cooper's office announced a record-breaking 28,000 new jobs brought to North Carolina over the course of 2022. Vinfast, Wolfspeed, Macy's, Boom Supersonic, and Eli Lilly and Company represent the last year's top five job creation project announcements.
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