THE STATE’S TOP RECRUITER
Christopher Chung oversees efforts to bring new jobs and business funding to the state. He’s been wildly successful.
Chris Chung joined the Economic Development Partnership of North Carolina in 2015 as chief executive officer and brought nearly 25 years of state-level economic development experience to his role.
As a public-private partnership, the EDPNC leads several economic development functions on behalf of the State of North Carolina. These include new business recruitment, existing business support, export assistance, small business counseling, and tourism and film promotion.
With a staff of 70 professionals and an annual operating budget of more than $38 million, the EDPNC is focused on improving the economic well-being and quality of life for North Carolina’s more than 10 million residents.
Since 2015, the EDPNC has helped North Carolina win more than 1,000 corporate expansion projects, resulting in nearly 133,000 announced new jobs and more than $35 billion in announced new investment across the state.
Chung spoke about the state’s economic development efforts in North Carolina and how it could improve. What follows is an edited transcript.
WHAT ARE THE STATE’S BIGGEST SELLING POINTS?
North Carolina is a premier business relocation destination, and many factors attract small and large companies. North Carolina has the lowest corporate income tax in the nation, a centralized mid-Atlantic location with access to 150 million customers within a day’s drive.
We also have a world-class workforce supported by a large population of 10.8 million people and a steady influx of in-migration. North Carolina is the ninth-largest state in population and ranks third for the highest net migration rate in the U.S. It is also home to the largest manufacturing workforce in the Southeast. North Carolina can also support diverse industries, from food processing to automotive to pharmaceuticals.
North Carolina also has an excellent quality of life that attracts people to our state and that our residents enjoy daily, whether it is our varied geography, moderate climate, exciting sports teams, or our low cost of living and low tax burden. These reasons and more contribute to North Carolina being one of the fastest-growing states in the nation.
HOW ARE WE DOING IN TERMS OF CONTINUING TO PROVIDE A QUALITY WORKFORCE?
A region’s economic success depends on its workforce, and North Carolina’s workforce is consistently ranked as one of the best in the nation. North Carolina earned the coveted title of CNBC’s Top State for Business in the previous two years, receiving top marks for its workforce above all other states.
As companies navigate shifts in the post-pandemic economy, which dealt with a tight labor market and a significant increase in domestic manufacturing demand, states must be prepared to meet the needs of ever-evolving manufacturers, technology firms, headquarters, corporate hubs and life sciences companies. North Carolina is uniquely equipped to meet these needs. Our labor force of 5.2 million is growing daily — we are one of the fastest-growing states by population, with more than 340 new residents moving to North Carolina every day.
Most newcomers migrate from New York, California, New Jersey, Virginia and Florida, attracted to North Carolina’s rich quality of life, low cost of living, and abundant career opportunities. Today’s labor market requires an agile workforce equipped with the skills needed for advances in manufacturing, life sciences, technology and other rapidly evolving industries. North Carolina offers 110 universities and community colleges along with numerous programs to help students and existing workers access resources to earn new credentials or find new career opportunities. A strong network of workforce development organizations statewide helps companies tap into skilled talent pools.
Our state also offers workforce development programs that help train new and existing employees and connect them to the right jobs. Under the N.C. Community College System, ApprenticeshipNC helps employers establish registered apprenticeships to build a skilled workforce, educate apprentices and connect them to the ideal program. Propel NC, the community college system’s new funding model, uses job demand data to directly align program funding to the state’s most urgent workforce needs.
The General Assembly has earmarked funds to increase the state’s high-tech workforce. Its Engineering North Carolina’s Future program funds will support capital and operational funding at universities, such as NC State and NC A&T, to increase enrollment in STEM programs to feed the workforce pipeline.
HOW MUCH DO ECONOMIC INCENTIVES PLAY IN ATTRACTING COMPANIES TO MOVE TO THE STATE?
North Carolina’s targeted, performance-based incentive programs, such as the Job Development Investment Grant (JDIG) and One North Carolina Fund (OneNC), are ways for companies to reduce their overall business costs and tax burden. These incentives complement North Carolina’s business-friendly tax environment. Our corporate income tax rate is the nation’s lowest at 2.5%. By 2030, we will have a 0% corporate income tax and will likely be only one of three states to levy neither a corporate income tax nor a statewide gross receipts tax, with the others being South Dakota and Wyoming. This is largely due to our state’s bipartisan efforts to craft fiscal policy with businesses in mind.
WHAT NEEDS TO BE DONE TO GET COMPANIES TO MOVE TO THE MORE RURAL AREAS OF NORTH CAROLINA?
North Carolina has recently enjoyed considerable success in recruiting sizable economic development projects. These projects require more extensive tracts of land, which favor rural areas. However, with this success, the state has committed some of its best sites for projects requiring substantial land and readiness while the competition for these projects continues
to grow.
Through the Megasite Readiness Program, the EDPNC has identified the best sites for projects requiring substantial land and readiness. Six of the seven sites identified were in Tier 1 and 2 counties, or the most economically distressed. The EDPNC also oversees the Selectsite Readiness Program, which will support the development of sites to increase North Carolina’s competitiveness in the siting or expansion of significant manufacturing projects in several sectors. Of the 15 sites identified this year, 11 are in Tier 1 and 2 counties. By increasing available products, we can attract more businesses to the rural parts of the state.
THE STATE IS KNOWN FOR SPECIFIC INDUSTRIES, SUCH AS FINANCIAL SERVICES IN CHARLOTTE AND BIOTECH IN RTP. WHAT INDUSTRIES COULD WE FOCUS ON IN THE FUTURE?
North Carolina is prime for advanced manufacturing with its highly educated workforce, world-class education system and workforce development programs. North Carolina’s history of leadership in manufacturing began with tobacco, textiles, and furniture. Now, our innovative economy has the largest advanced manufacturing workforce in the Southeast. As a leader in manufacturing, North Carolina has welcomed companies spanning many industries such as automotive and EV, aerospace and life sciences. Those include Kempower, Pratt & Whitney, Believer Meats and Kyowa Kirin.
We also focus on clean energy projects or those with little to no carbon emissions. North Carolina is a national leader in taking steps to address climate change and rising energy costs. Through legislative, executive, and regulatory action, we are diversifying our energy portfolio and decreasing our dependence on fossil fuels, which is attracting like-minded companies, such as Toyota, Boom and Natron.
Artificial intelligence is another industry we are watching. A lot is behind AI to keep it powered and innovative, such as hardware production, semiconductors, and data science and
we will see an increase in companies looking to relocate or establish themselves.
YOU RECENTLY WERE IN GREENSBORO TALKING ABOUT THE IMPORTANCE OF CHILDCARE FOR EMPLOYERS. WHY IS
THAT IMPORTANT?
Childcare is one of the most pronounced barriers to employment; it is a workforce development issue. If parents know they have safe and reliable childcare, they can show up to work and be more productive and focused employees. More productive and focused employees mean stronger companies and communities across the state, ultimately making North Carolina more competitive in business attraction.
WHAT ISSUES REMAIN THAT COULD HINDER COMPANIES COMING TO NORTH CAROLINA?
One issue that could hinder companies from coming to North Carolina is a volatile economic climate that could cause companies to pause relocation plans. The past few years have been challenging for economic development nationwide due to high interest rates, persistent inflation, and other macroeconomic headwinds. However North Carolina’s dedication to improving its residents’ economic well-being and quality of life has continued to attract companies of all sizes.
HOW CAN THE WESTERN PART OF THE STATE BEST REBOUND ECONOMICALLY FROM THE DESTRUCTION OF HURRICANE HELENE?
Unfortunately, natural disasters such as hurricanes are becoming more common and destructive and are impacting areas other than the coast. Any area or economy that rebuilds after something like Hurricane Helene will need to “future-proof “ itself so that it is more resilient if and when another natural disaster like this happens. This could include economic diversification and infrastructure redundancy.
Our hearts go out to those individuals, families and communities affected by Hurricane Helene. The EDPNC is here to assist in rebuilding in any way that we can.
Our web page for disaster recovery resources can be viewed at edpnc.com/Helene.
WHAT’S THE BEST WAY THE REST OF THE STATE CAN HELP THE REGION?
The best way for the state to help the western part of North Carolina is to give to the North Carolina Disaster Fund. Those contributions help with the unmet needs of our state’s hurricane victims. A link to donate is at the top of NC.gov. 
