North Carolina Named State Of The Year By Business Facilities Magazine
North Carolina was recognized as the Business Facilities’ 2025 State Of The Year by Business Facilities magazine. This annual award has been presented by the magazine for two decades to recognize states with successful business climate and economic development growth in the previous year. The evaluation processes focused on significant factors that impact corporate relocation and expansion decisions. This is the third time North Carolina was recognized for this award; it was previously recognized in 2020 and 2022.
Business Facilities Editorial Director Anne Cosgrove said, “From JetZero choosing Greensboro, NC at the Piedmont Triad International Airport grounds for the site of its first commercial airplane manufacturing facility to biotech firm Genentech building a manufacturing plant in Wake County, the state’s economic development infrastructure supports the growth of new and existing companies. Emerging supply chains are being cultivated here as well. One example is Vulcan Elements, a manufacturer of rare-earth magnets locating in Johnston County for its rare-earth magnets facility with plans to invest nearly $1 billion and create 1,000 jobs.”
The magazine recognized North Carolina’s record year — the North Carolina Department of Commerce, and the Economic Development Partnership of North Carolina (EDPNC) announced more than 33,000 job commitments were announced through November 2025.
Additionally, capital investments from new and expanding businesses reached record levels. From aerospace to life sciences and from data centers to rare-earth supply chains, North Carolina’s advantages for business continued to shine in 2025 — attracting nearly $23 billion in overall project investment across 47 counties between January and November 2025.
“North Carolina’s reputation in the marketplace continues to grow,” said Christopher Chung, Chief Executive Officer of the Economic Development Partnership of North Carolina. “Companies looking to expand or relocate see a state that is consistent, competitive, and committed to long-term success, which is helping North Carolina stand out in an increasingly crowded economic development landscape.”
Tim’s Take: North Carolina continues to receive national recognition for its business competitiveness, largely due to the tax climate enacted by the Republican-led General Assembly. By cutting taxes allowed the Tar Heel state to stay competitive with the economic juggernaut of Texas and Florida.
