North Carolina Economic Development Guide

2012

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Governor Q&A environment that spurs business growth while protecting the public. Since taking office, I have focused on reducing outdated and unnecessary burdens on business. Tax breaks and other financial incentives are important tools in recruiting business. What makes North Carolina's so special? Our programs are performance- based, which means we typically provide benefits after the company has performed, rather than before. We require companies to demonstrate that they have met targets on job creation, investment and wages. Also, we include clawback provisions in our grants and forfeiture provisions in our tax credits when we need them to protect the state's interests. Accountability is a fundamental piece of our business recruit- ing. We will continue to invest in economic development because those investments bring results, which we have seen through growth in industries such as aerospace, energy, international trade and tourism. But despite victories in attracting jobs, unemployment remains high. From early 2010 to May 2011, we saw North Carolina's unemployment rate steadily improve, although too many people remain out of work. I won't be satisfied until every North Carolinian who wants a job has one. In the last couple of months, we have seen private-sector jobs in North Carolina continue to grow, but the public Company Capgemini, France Red Hat, U.S. Honda Aircraft, U.S. Linamar, Canada Steven Roberts Original Desserts, U.S. NS Aviation, U.S. North Carolina is attractive to both domestic and international companies, as shown by the top 10 job announcements of 2011 (through October) by the governor's office. Pittsburgh Glass Works, U.S. Semprius, U.S. Horsehead, U.S. Celgard, U.S. 12 North Carolina Economic Development Guide Location Charlotte Raleigh Greensboro Asheville Pembroke sector is experiencing massive layoffs. That has set us back. More work needs to be done, and we are aggressively compet- ing for every job. Through my JobsNOW initiative, we have implemented a number of programs to help workers gain skills for the jobs of the 21st century. Through Biz Boost, we have been able to help compa- nies on the brink of closing develop new strategies and opportunities, which has led to the creation and retention of thousands of jobs and tens of millions of dollars in revenue. Instead of closing, many businesses are adding workers. What sectors does the state target? Traditionally, we have been a manufac- turing state, and that will always be a focus for North Carolina. However, the industries we are also targeting today are engaged in technology-intensive, lean-manufacturing processes that increasingly require higher- skilled workers. Our manufacturing legacy is one of our greatest strengths. It is one reason we have such a highly developed industry-training system in our community colleges. Today, we are taking that legacy and applying it to increasingly sophisticated manufacturing processes in fields such as biotechnology, aerospace and defense and power-generation equipment. Addi- tionally, we are applying it rurally to develop food-processing operations that complement and provide markets for our agriculture sector. Jobs Business 550 Information-technology provider 540 Software manufacturing and maintenance 419 Airplane manufacturing and maintenance 363 Automotive-component supplier 342 Frozen-food maker and distributor Winston-Salem 308 Aircraft maintenance and repair Elkin 260 Automotive-glass maker Henderson Forest City Concord 256 Solar-panel maker 250 Zinc and zinc-based products maker 250 Lithium-battery-membrane maker

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