Press Releases

Twenty-nine innovative companies across North Carolina have received grants to foster job creation and promote research and technological development in response to the pandemic, the Department of Commerce announced today. The One North Carolina Small Business Program awarded a total of $1.5 million to the selected technology-oriented businesses.

PennyMac Financial Services, Inc., a California-based specialty financial services firm, will create more than 300 jobs in Wake County, Governor Roy Cooper announced today. The company will invest $4.3 million into PennyMac Loan Services, LLC, its mortgage lending subsidiary, to establish a mortgage fulfillment production center in Cary. “Growing companies like PennyMac Financial want to expand in North Carolina even during a pandemic because of our strong talent pipeline, steady business climate and our exceptional quality of life,” said Governor Cooper.

The state’s seasonally adjusted December unemployment rate was 6.2 percent, remaining unchanged from November’s revised rate. The national rate remained unchanged at 6.7 percent. North Carolina’s December 2020 unemployment rate increased 2.6 percentage points from a year ago. The number of people employed increased 27,571 over the month to 4,702,115 and decreased 215,063 over the year. The number of people unemployed decreased 630 over the month to 310,675 and increased 124,552 over the year.

Most North Carolina small businesses remain open but have seen revenues decline in the face of the COVID-19 pandemic, according to results from a new survey of North Carolina small businesses released today by the Department of Commerce.  The report also shows more than half of the respondents to the survey have taken advantage of financial assistance programs and that such programs remain crucial, including the need to better connect businesses to the programs that remain available.

Governor Roy Cooper announced today that Adverum Biotechnologies, Inc., a California-based gene therapy company targeting unmet medical needs in ocular and rare diseases, will invest $82.8 million for a new gene therapy manufacturing facility in Durham County. This investment will create more than 200 new jobs. “Our state’s dynamic workforce continues to propel life-changing innovation and keeps North Carolina at the forefront of biomanufacturing through life sciences companies like Adverum,” said Governor Cooper.

Unemployment rates (not seasonally adjusted) increased in 76 of North Carolina’s counties in November, decreased in six, and remained unchanged in 18. Scotland County had the highest unemployment rate at 10.5 percent while Watauga County had the lowest at 4.2 percent. Ten of the state’s metro areas experienced rate increases, one decreased, and four remained unchanged. Among the metro areas, Fayetteville had the highest rate at 8.4 percent while Durham-Chapel Hill had the lowest at 5.2 percent. The November not seasonally adjusted statewide rate was 6.1 percent.

Intercontinental Capital Group Inc, a direct mortgage lender specializing in single-family residential properties, will significantly expand its Charlotte operations, adding 500 jobs over the coming five years, Governor Roy Copper announced today. The company’s plans in Mecklenburg County include a capital investment of $5,844,450. “Growing companies like Intercontinental Capital Group choose North Carolina for their expansion plans because of our tech-ready workforce and strong leadership, even during a global pandemic,” Governor Cooper said.

American Fuji Seal Inc, part of Japan’s Fuji Seal International, will establish new production operations in Catawba County that will employ up to 101 workers by 2025, Governor Roy Cooper announced today. The packaging solutions provider plans to invest $52 million at its new site in Hickory.

The state’s seasonally adjusted November unemployment rate was 6.2 percent, remaining unchanged from October’s revised rate. The national rate decreased 0.2 of a percentage point to 6.7 percent. North Carolina’s November 2020 unemployment rate increased 2.6 percentage points from a year ago. The number of people employed increased 28,320 over the month to 4,656,817 and decreased 261,796 over the year. The number of people unemployed increased 2,650 over the month to 308,905 and increased 123,267 over the year.

Taysha Gene Therapies, Inc. (Nasdaq: TSHA), a patient-centric gene therapy company, has selected Durham as a site for its gene therapy manufacturing facility, Governor Roy Cooper announced today. The site is expected to create approximately 200 jobs over the next two and a half years. The Research Triangle area project confirms North Carolina’s growing role in gene therapy, a promising approach for fighting a host of challenging genetic diseases.