Economic Development Partnership Of North Carolina Inc

COLLABORATING WITH STATE, REGIONAL, LOCAL, AND PRIVATE-SECTOR PARTNERS TO IMPROVE THE ECONOMIC WELL-BEING AND QUALITY OF LIFE FOR ALL NORTH CAROLINIANS.

GOVERNMENT MANDATED RESTRICTIONS AND A SHARP DECLINE IN DEMAND FOR TRAVEL, FOOD, AND ACCOMMODATIONS IN LIGHT OF THE ONGOING PANDEMIC HAD A DEEP AND IMMEDIATE IMPACT TO THE TOURISM INDUSTRY. VISITOR SPENDING IN NORTH CAROLINA DROPPED 32 PERCENT IN 2020, ENDING A REMARKABLE 10-YEAR RUN OF SPENDING RECORDS SET BY DOMESTIC AND INTERNATIONAL TRAVELERS TO THE STATE. CONSISTENT WITH WORKFORCE CHALLENGES FELT AROUND THE NATION, THE TOURISM SUPPORTED WORKFORCE IN NORTH CAROLINA DECREASED 26.4 PERCENT TO 178,700 JOBS.HOWEVER, VISITOR SPENDING IN NORTH CAROLINA REBOUNDED SIGNIFICANTLY IN 2021 TO $28.9 BILLION IN 2021, JUST 1 PERCENT BELOW THE RECORD SET IN 2019. VISITOR SPENDING INCREASED 45 PERCENT FROM 2020. THE TOURISM-SUPPORTED WORKFORCE IN NORTH CAROLINA INCREASED 10.5 PERCENT FROM 2020 TO 197,500 JOBS, THOUGH STILL MORE THAN 18 PERCENT BELOW THE 2019 RECORD OF 242,600.

BECAUSE NORTH CAROLINA'S EXPORTS OF GOODS AND SERVICES SUPPORT MORE THAN 400,000 JOBS ACROSS THE STATE, THE EDPNC IS DEEPLY COMMITTED TO HELPING BUSINESSES EXPAND THEIR OVERSEAS MARKETS. IN FY 2022, THE EDPNC'S INTERNATIONAL TRADE MANAGERS AND FOREIGN OFFICES ASSISTED 574 COMPANIES WITH EXPORTING, AND THOSE BUSINESSES REPORTED NEARLY $1 BILLION IN FOREIGN SALES CONNECTED TO EDPNC SUPPORT. THE ASSISTANCE INCLUDED PROVIDING MARKET INTELLIGENCE AND STRATEGIES, PRODUCT ANALYSIS, DISTRIBUTOR SEARCHES, AND SUPPORT AT TRADE SHOWS AND TRADE MISSIONS.

IN FY 2022, THE EDPNC, WORKING IN TANDEM WITH LOCAL AND STATE PARTNERS INCLUDING THE GOVERNOR'S OFFICE, NORTH CAROLINA DEPARTMENT OF COMMERCE, AND LOCAL ECONOMIC DEVELOPMENT ORGANIZATIONS, HELPED CLOSE DEALS ON 173 BUSINESS RECRUITMENT AND EXPANSION PROJECTS RESULTING IN THE ANNOUNCEMENT OF 30,546 NEW JOBS IN NORTH CAROLINA AND $13.25 BILLION IN INVESTMENT. AMONG OTHER HIGHLIGHTS, THIS INCLUDED THE ANNOUNCEMENT OF A 7,500-JOB, $4 BILLION INVESTMENT BY VINFAST IN A NEW EV BATTERY AND AUTOMOTIVE OEM FACILITY IN CHATHAM COUNTY; THE LOCATION OF A NEW 1,750-JOB, $1.3 BILLION EV BATTERY FACILITY IN RANDOLPH COUNTY; A 1,761-JOB, $500 MILLION MANUFACTURING FACILITY FOR BOOM SUPERSONIC IN GUILFORD COUNTY; AND ADDITIONAL INVESTMENTS IN NORTH CAROLINA'S LIFE SCIENCES SECTOR BY ELI LILLY (589 JOBS, $939 MILLION) IN CABARRUS COUNTY AND THERMO FISHER SCIENTIFIC (290 JOBS, $154 MILLION) IN PITT COUNTY. THE STATE RANKS EACH OF NORTH CAROLINA'S 100 COUNTIES BASED ON ECONOMIC WELL-BEING, WITH A TIER 1 COUNTY THE MOST DISTRESSED, TIER 2 IN THE MIDDLE, AND TIER 3 THE LEAST DISTRESSED. 128 OF THE 173-BUSINESS RECRUITMENT AND EXPANSION DEALS OCCURRED IN TIER 1 AND 2 COUNTIES, AND THOSE PROJECTS ARE EXPECTED TO CREATE 16,618 NEW JOBS AND OVER $5.25 BILLION IN INVESTMENT.

EXISTING INDUSTRY AND SMALL BUSINESS SUPPORT; BUSINESS DEVELOPMENT, RESEARCH AND MARKETING.THROUGH ITS CONTRACT WITH THE NORTH CAROLINA DEPARTMENT OF COMMERCE, EDPNC OPERATES AS THE SALES AND MARKETING ARM OF THE STATE'S ECONOMIC DEVELOPMENT ACTIVITIES. AS SUCH, EDPNC IS RESPONSIBLE FOR BUSINESS RECRUITMENT, EXISTING INDUSTRY AND SMALL BUSINESS SUPPORT, IMPORT AND EXPORT ASSISTANCE, MARKETING AND RESEARCH, TOURISM, FILM, AND SPORTS DEVELOPMENT ACTIVITIES WITHIN THE STATE, WHICH ALL WORK TOWARD THE CREATION AND RETENTION OF HIGH QUALITY JOBS WITHIN NORTH CAROLINA. EXPENSES RELATED TO SPECIFIC PROGRAMS HAVE BEEN SHOWN PREVIOUSLY.