Special to IFN
Gov. Josh Stein and the N.C. Department of Commerce announced seven new economic development projects this week that will bring more than 3,400 jobs and invest more than $1.8 billion in North Carolina. These announcements come on the heels of Scout Motors selecting Charlotte for its new headquarters, investing more than $206.9 million, and bringing 1,200 jobs to the Queen City. In total, Stein and the Department of Commerce have announced nearly 33,000 new jobs this year.
“North Carolina continues to prove that we are the Top State for Business,” the governor said. “These new projects will bring thousands of good-paying jobs and billions in investment to communities across our state from small towns like Benson to cities like Charlotte. We are doubling down on our commitment to strengthening our workforce and building an economy that works for everyone.”
“These announcements reflect the confidence that leading companies have in North Carolina’s dynamic economy,” added Commerce Secretary Lee Lilley. “We are grateful for companies like these that have recognized our state as one where they can flourish. With more than 30,000 jobs created in less than a year, this is only the beginning. We look forward to building on this momentum and strengthening our workforce across the state.”
Earlier this week Stein announced Vulcan Elements Inc., a rare earth magnet manufacturer, will invest $918.1 million in Benson, adding 1,000 jobs to Johnston County and establishing the largest magnet factory in the world outside of China. These new jobs will bring a projected annual payroll impact of nearly $82 million for the region and grow the state’s economy by $2.6 billion. For every dollar the state invests, it is projected to receive $1.65 in state revenue.
Among other companies coming to North Carolina:
♦ Novartis , global genetic medicines leader, will invest $771 million in Durham and Wake counties, creating 700 jobs.
♦ Aspida Financial Services, a life insurance and annuity group, will invest $28 million to expand its global headquarters in Durham, adding 1,000 jobs.
♦ Fit Precast, an industrial concrete manufacturer, will invest $102 million in Gastonia, creating 125 new jobs in Gaston County.
♦ Maersk, a global logistics and container shipping company, will invest $16 million in Charlotte, bringing 520 new jobs to Mecklenburg County.
♦ Eaton, an aerospace components manufacturer, will invest more than $6.8 million in Middlesex, adding 30 jobs in Nash County.
♦ VectorTex USA, a product developer and technology company, will invest more than $6 million in Elizabethtown, creating 44 jobs in Bladen County.
Earlier this year, North Carolina was ranked the Top State for Business in the United States for the third time in four years.