Editor’s note: The  Economic Development Partnership of North Carolina on Tuesday released its annual report, focusing on a record-setting year in business and jobs recruitment in 2022. In an introduction, Gov. Roy Cooper recounts why in his analysis N.C. had a record year.

The EDPNC and local partners closed 151 corporate relocations and expansions, bringing 27,144 jobs and $15.58 billion in capital investment. 2022’s capital investment surpasses that of both 2021, with $10.01 billion, and 2020, which had $6.3 billion, the report notes.
“Last year North Carolina welcomed the largest economic development projects in its history, results directly attributable to our highly educated workforce, world-class education, excellent quality of life and strong public and private partnerships,” said Christopher Chung, CEO of the EDPNC. “Our annual report shows those successes and how the pieces came together to make them happen.”


Companies of all sizes and industries know that North Carolina is the best place in America to do business. In 2022, North Carolina had a banner year in economic development with a record-breaking 28,000 new jobs and more than $19 billion in capital investment announced across the state.

In 2022, North Carolina landed its first auto assembly facility when VinFast announced it would site an electric vehicle and battery manufacturing facility (the company’s first in North America) in Chatham County. Investing $4 billion and creating 7,500 jobs VinFast’s project is the largest in North Carolina’s history. Home-grown semiconductor manufacturer Wolfspeed announced it is investing $5 billion and creating 1,800 jobs in Siler City. North Carolina also welcomed jobs announcements from Boom Supersonic, Eli Lilly, and Toyota.

We were also recognized by media across the country. CNBC named North Carolina America’s Top State for Business for 2022. North Carolina was also named the State of the Year by Business Facilities Magazine. Area Development Magazine awarded us the inaugural Platinum Shovel award for going above and beyond the gold standard in job creation and investment.

These companies and publications recognize that North Carolina has what it takes to be successful for years to come, starting with our highly skilled, diverse workforce. North Carolina has the largest manufacturing workforce in the Southeast, but to meet workforce needs in booming industries, we have set the ambitious goal of getting 2 million more adult North Carolinians a high-quality postsecondary degree or credential by 2030.

We have the best array of public and private universities and the best community college system in the country. We have three Tier-1 research universities, the most historically black colleges and universities (HBCUs) in the country, and a network 58 community colleges dedicated to preparing our people for the workforce of tomorrow. North Carolina also boasts an affordable cost of living and low business costs in a friendly and beautiful state with something for everyone.

Our approach in North Carolina is rooted in the partnership among our state, regional, and local partners including the North Carolina Department of Commerce, the North Carolina General Assembly, the Economic Development Partnership of North Carolina, and other regional economic development and private-sector organizations that support our efforts.

North Carolina’s goal is to be first in opportunity, and I look forward to building upon our foundation so that more people can share in our success story.