Press Releases

North Carolina set a record for visitor spending in 2022, according to county-level data released today by the North Carolina Department of Commerce. North Carolina’s urban counties registered the largest gains in 2022 visitor spending, following a few years of rural counties leading visitor spending post-pandemic.The preliminary findings from an annual study commissioned by Visit North Carolina, a unit of the Economic Development Partnership of North Carolina, reflect the economic impact of tourism on local economies across the state.

The state’s seasonally adjusted July 2023 unemployment rate was 3.3 percent, unchanged from June’s revised rate. The national rate decreased 0.1 of a percentage point to 3.5 percent.North Carolina’s unemployment rate decreased 0.4 of a percentage point from a year ago. The number of people employed increased 12,229 over the month to 5,060,181 and increased 81,640 over the year. The number of people unemployed decreased 1,159 over the month to 171,445 and decreased 22,097 over the year.

The North Carolina Rural Infrastructure Authority (RIA) has approved five grant requests to local governments totaling $1,384,730, Governor Roy Cooper announced today. The requests include commitments to create a total of 133 jobs. The public investment in these projects will attract more than $68.3 million in private investment.

Deere & Company [NYSE: DE] and Kreisel Electric GMBH, an Austrian company, which John Deere acquired majority ownership of in 2022, will create 50 jobs in Forsyth County, Governor Roy Cooper announced today. John Deere Electric Powertrain LLC will invest $69.6 million to establish its North American headquarters and build a battery and charger manufacturing facility in the Town of Kernersville.

Unemployment rates (not seasonally adjusted) increased in 86 of North Carolina’s counties in June 2023, decreased in five, and remained unchanged in nine. Scotland County had the highest unemployment rate at 6.4 percent while Swain County had the lowest at 2.7 percent. All fifteen of the state’s metro areas experienced rate increases. Among the metro areas, Rocky Mount had the highest rate at 5.2 percent while Asheville had the lowest at 2.9 percent. The not seasonally adjusted statewide rate was 3.6 percent.

The North Carolina Department of Commerce and several of its state partners provided updates on the state’s economic development strategic plan during a virtual First in Talent Town Hall today. The 2023 annual economic performance evaluation report noted that the Commerce department has made progress on 32 of the 44 tactics in the plan since launching in 2021.

CommScope [NASDAQ: COMM], a global telecommunications leader, plans to add 250 new jobs with a $60.3 million investment to expand its fiber-optic cable manufacturing operations in Catawba County, Governor Roy Cooper announced today.

The state’s seasonally adjusted June 2023 unemployment rate was 3.3 percent, decreasing 0.1 of a percentage point from May’s revised rate. The national rate decreased 0.1 of a percentage point to 3.6 percent.North Carolina’s unemployment rate decreased 0.3 of a percentage point from a year ago. The number of people employed increased 14,582 over the month to 5,047,816 and increased 60,958 over the year. The number of people unemployed decreased 3,058 over the month to 172,680 and decreased 12,620 over the year.

Local governments in 69 North Carolina counties can now apply for funding from a program associated with the Southeast Crescent Regional Commission (SCRC), a state and federal partnership agency crafted along the model of the long-established Appalachian Regional Commission. The North Carolina Department of Commerce’s Rural Economic Development Division manages the state’s engagement with SCRC.The inaugural grant cycle from SCRC’s State Economic and Infrastructure Development Grant Program (SEID) will provide $4.5 million for projects in North Carolina.

TTX Company, a major provider of railcars and related freight car management services to the North American rail industry, will move its headquarters to Charlotte, creating 150 jobs Governor Roy Cooper announced today.  The company will invest $14.5 million in Mecklenburg County.