The Business Climate is Getting Pretty Sunny in North Carolina!

In the recently released Forbes 2013 “Best States for Business”, North Carolina ranked 4th. North Carolina continues to have one of the highest net migration rates in the U.S. and people continue to flock to the state. North Carolina rank 3rd in the nation in labor costs, almost 19% below the national average, and the state is a prime location to start a new business or expand an existing business.

Raleigh is the capital of North Carolina and the second largest city in the state. Raleigh, along with Durham and Chapel Hill, make up the primary cities of the “Research Triangle” metropolitan region. Raleigh has heavily invested in the Research Triangle, turning it into a hotbed of technological investments. Raleigh has a well-educated workforce; over 42% of the labor force has a college degree. The population of Raleigh continues to grow at a double digit rate (18.5%) in 2012, and with such large growth the business climate is expanding to meet those newcomers’ needs.

Raleigh Facts

·   Ranked 3rd most educated city by Time magazine

·   Has the 2nd largest highway system in the nation, spanning more than 98,000 miles

·   Ranked 3rd in “Best Places for Business and Careers” by Forbes

·   In 2012, 18.5% population growth – almost twice the national average

·   Ranked 1st in “Most Wired Cities” by Forbes in 2010

Hot Businesses

·  Salix Pharmaceuticals recently announced an expansion of its headquarters

·   MetLife is planning 1,236 new jobs and over 70 million dollar investment in the region

·   Novartis Vaccines and Diagnostics is planning a 60 million dollar investment in the region

 

Raleigh is growing and smart businesses are taking notice and taking advantage of the new opportunities.

 

Great Links to learn more about Raleigh

·   Raleigh Economic Development Partnership -  http://www.investraleigh.com/

·   Raleigh’s For You! - http://www.raleigh4u.com/

·   Wake County Economic Development - http://www.raleigh-wake.org/home/

·   City of Raleigh - http://www.raleighnc.gov/

·   Forbes – Best States for Business -http://www.forbes.com/sites/kurtbadenhausen/2013/09/25/virginia-tops-2013-list-of-the-best-states-for-business/

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