The Economic Development Partnership of North Carolina had much to celebrate in 2024, most notably commemorating its 10-year anniversary. Since its inception in 2014, the EDPNC has strived to improve the economic well-being and quality of life for all North Carolinians through business recruitment and expansion, supporting and growing international trade, counseling small business and startups, and promoting the state as a tourism destination.
Over the last decade, the EDPNC has delivered formidable results within each of these pillars, assisting more than 1,300 companies with relocations and expansions that brought 178,000 new jobs and $67 billion in capital investment across North Carolina. Our Small Business Advisors team helped more than 183,000 small businesses navigate the startup process, and our International Trade team supported manufacturers across the state as they sought to grow their international export capabilities. The tourism team secured $269 billion in visitor spending and $1.4 billion in film production spending.
2024 rounded out the EDPNC’s first decade of existence with a strong performance. In partnership with the North Carolina Department of Commerce, the EDPNC assisted 140 companies that located or expanded in the state, creating 16,555 new jobs. The tourism team helped spur over $4.9 billion in commercial lodging revenue and secured more than $302 million in in-state film production spending.
In a landmark year for the state’s life sciences sector, more than 3,500 new jobs and over $8 billion in capital investment were announced by companies in biopharmaceutical manufacturing, medical equipment, and biotechnology. Momentum continued in the energy sector, with Natron Energy and Boviet Solar announcing major projects in eastern North Carolina. The food and beverage industry saw 28 announced projects, the most of any sector, led by expansions from Morinaga America Foods, U.S. Foods, and Foster Caviness.
When Hurricane Helene hit Western North Carolina in September, the EDPNC mobilized quickly, convening local tourism partners, communicating what areas of the region were accessible and open for business, connecting small businesses with local support organizations, and amplifying statewide resources and donation platforms. Recognizing there is a long road to recovery ahead, much of the EDPNC’s focus will remain on helping the region’s tourism and small business economy recover.
The EDPNC and the Department of Commerce work in partnership everyday with the Governor’s Office, the North Carolina General Assembly, the EDPNC Board of Directors, and other state and local public and private partners.
Together, we are proud of all that we have achieved in the last ten years, a decade that brought transformative growth and prosperity to North Carolina. We look forward to continuing our work that improves the well-being and quality of life for all North Carolinians.
Sincerely,
Christopher Chung, Chief Executive Officer, EDPNC
Lee Lilley, Secretary, Department of Commerce
Gene McLaurin, Chairman, EDPNC Board of Directors
