Raleigh, NC (STL.News) Governor Roy Cooper noted that manufacturing remains essential to the success of every sector of our state’s economy as he proclaimed September 27 – October 3, 2020 as Manufacturing Week in North Carolina.
As the state’s CEO, Governor Cooper leads the seventh largest manufacturing economy in the United States with North Carolina’s manufacturers contributing $100.1 billion to our gross domestic product. Studies show that for every $1.00 spent in manufacturing, $1.82 is generated for North Carolina’s economy.
“North Carolina manufacturers produce 17% of our gross state product,” said Governor Cooper. “During this week we celebrate the contributions of manufacturers in our state as well as our manufacturing sector research initiatives and workforce development programs.”
In 2019, 95% of North Carolina’s $32.8 billion exports were manufactured goods spanning pharmaceuticals, aircraft and automotive components, chemicals and transportation equipment. With more than 9,600 new jobs and investments totaling $3.58 billion, 69% of economic development projects announced in 2019 were manufacturing projects.
Since Governor Cooper took office, North Carolina has announced 28,791 manufacturing jobs with more than $10.5 billion investment, growing our manufacturing workforce to more than 475,000 people for 10,350 manufacturers.
North Carolina’s response to COVID-19 is heavily supported by the manufacturers that are producing and donating Personal Protective Equipment and testing kits, as well as biomanufacturers that are providing resources, research and development treatments, and detection tools to combat the pandemic.
North Carolina manufacturers have benefited from an excellent business climate with low costs, the nation’s lowest corporate income tax rate of 2.5% and a central East Coast location within a day’s drive of half of the U.S. population.