Cary, NC – In any state, you need a group to convince companies to move their business and bring jobs to the community. And in North Carolina, that group is based here in Cary.
What Makes NC Attractive
Christopher Chung is the chief executive officer of the Economic Development Partnership of North Carolina, which works to not only draw businesses to relocate to North Carolina but also grow existing businesses.
Chung said the factors his organization use to attract businesses to North Carolina depend on the specific industry but one that all of them can get behind is the state’s demographic trends.
“It’s a fast growing population, driven by in-migration,” Chung said. “That points to a talent pool that is getting deeper and there is no company that doesn’t look for that.”
Another key element is North Carolina tax rate and regulations, which Chung said are a positive for many businesses. And Chung also pointed to the state’s high quality of life.
“That doesn’t matter for every company but it is always important to consider,” Chung said.
And then for specific industries, Chung said there are multiple factors to bring up. For example, manufacturers can draw on North Carolina’s energy infrastructure and proximity to strong transportation networks, while tech companies have the IT expertise that comes out of the various universities in the area.
How to Grow
With the Economic Development Partnership of North Carolina located in Cary, Chung said the town is representative of what is going on in the region.
“Cary is a great example of a community that has ridden the wave of growth,” Chung said. “There’s a reason businesses and communities come here.”
And with benefits such as Raleigh-Durham International Airport being so close by and the “geographic ease” as Chung put it in moving from market to market, he said Cary is in a position to put its best foot forward when businesses come to North Carolina.
“And Cary, Raleigh and Morrisville all know they are competitors for companies but it is a friendly competition,” he said. “They know any new company will draw from the area for employees so no matter where it locates, they are all winners.”
Chung and the Economic Development Partnership of North Carolina do not only work on bringing businesses to North Carolina but they also try to grow existing ones as well.
“It’s two sides of the same coin,” he said. “The same advantages that prompt a business to move here prompt them to grow.”
The partnership also works to attract tourism to the state, which has its own economic benefit for the businesses visited by out-of-towners.