Facebook drives nearly $12B in ‘economic activity’ across NC, parent Meta says in report

In this April 30, 2019, file photo, Facebook stickers are laid out on a table at F8, Facebook's developer conference in San Jose, Calif. U.S. Border Patrol agents are under fire for posting offensive messages in a “secret” Facebook group that included sexually explicit posts about U.S. Rep. Alexandria Ocasio-Cortez and comments questioning the authenticity of a photo of a drowned man and his young daughter. (AP Photo/Tony Avelar, File)

by WRAL TechWire — April 27, 2023

RESEARCH TRIANGLE PARK – Meta says in a new report that social media giant Facebook helps generate nearly $12 billion in “economic activity” and also is responsible in part for some 89,000 jobs.

The report was released Wednesday evening after the parent of Facebook disclosed its latest quarterly financials – good enough to drive up Meta stock in double digits during after hours trading.

Meta/Facebook operates a big data center in Western North Carolina and has announced plans for an operation in Durham that is to employ some 100 people.

Met’s findings are based on a study from UC Berkeley economists of Meta’s impact across the country.

Several findings are noted in this graphic provided by Meta:

The report was issued ahead of Small Business Week, which begins April 30.