Gone to Carolina in Your Mind?

Smart policy decisions that are driving economic success

BY GARY J. SALAMIDO

IN 2022 AND 2023, CNBC announced North Carolina as its top state for business and though we came in second in 2024, it isn’t because we fell, Virginia just caught us.

But how does a state become the top state for business with the nation’s strongest economy? Certainly not without borrowing policy wins from other states, including Delaware.

A FOCUSED VISION

More than a decade ago, North Carolina’s business community developed a long-term vision for our state that looks beyond political cycles to focus on the long-term policies needed to compete for jobs and investment. Vision 2030 is centered around three pillars: education and talent supply, a competitive business climate, and infrastructure.

For more than a decade, the NC Chamber has prioritized these focus areas together to achieve a strategic competitive advantage for North Carolina.

Education and Talent

A skilled and educated workforce is the cornerstone of a strong, healthy economy. While the issue is weaponized politically, the business community has harnessed its efforts around building a skilled talent pipeline and achieving a competitive, diverse, and world-class workforce.

In the policy arena, that has included removing barriers to work through efforts around justice-involved individuals, child care, and housing.

The NC Chamber Foundation is implementing the U.S. Chamber Foundation’s Talent Pipeline Management® programming to engage local partners in employer-led collaboratives that coordinate workforce development solutions to meet the needs of businesses and their workers.

Competitive Business Climate

Tax often leads the competitiveness conversation and North Carolina is no different. A decade ago, the Tar Heel State’s tax system ranked 44th in the country—meaning that only six states had less-competitive tax codes than North Carolina. Today, that same ranking puts us at 11th in the country.

Significant reforms were also completed in the areas of unemployment insurance, workers’ compensation, and the regulatory environment.

While Delaware has long been a leader for its business-friendly legal climate, North Carolina has worked to advance policy that is competitive with your state. As part of Vision 2030, the NC Chamber established the NC Chamber Legal Institute to serve as an organized voice for legal policy development and analysis, as well as develop legal strategies to protect North Carolina businesses at the legislature and in the courts.

The one area where North Carolina has never drifted from the leaderboard is its right-to-work status. Every person in North Carolina can pursue gainful employment without the requirement to join a union or pay union dues.

Infrastructure

Sufficient physical infrastructure, including transportation, water and sewer, energy, and broadband, is key to competitiveness, particularly as North Carolina continues to experience rapid population growth.

Diversifying our revenue stream for key infrastructure investments has been a huge step in funding our transportation network. North Carolina is only second to Texas in its number of state-maintained roads.

WHAT’S NEXT?

The mission and vision of the NC Chamber are laser-focused on the state’s success. Every effort is about people. Jobs and a strong economy keep communities healthy. The NC Chamber team is focused on staying ahead of the competition.

Gary J. Salamido is president and CEO of the North Carolina Chamber of Commerce.