Economic Development
Growth and improvement of local economy
Latest stories
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VinFast fights NC effort to boot it from Chatham megasite, blames delay on ‘the state’s own failure’
North Carolina lured electric-vehicle maker VinFast to build a factory in Chatham County. The state is now trying to force the company out so the site can be used for something else. VinFast says it still deserves more time.
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Connections -- virtual, physical, personal -- build an information economy ecosystem
Entrepreneurs need places to encounter one another. A downtown coffee shop can be part of an entrepreneurial ecosystem. Fiber connects machines. Entrepreneurial ecosystems connect people. Both networks become more useful as the number and density of connections increase.
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NC battery plant breaks ground with $100M in federal support
A new battery facility broke ground today in Morrisville, backed by $100 million in federal reimbursement grants.
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Raleigh design commission pauses vote on new North Hills tower
Members of the Raleigh Design Commission said they needed more information before voting to waive ordinance requirements for a new 15-story tower in North Hills.
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Medical-device maker Steris plans North Carolina expansion, hundreds of new jobs
Medical-device maker Steris plans to invest hundreds of millions of dollars and hire hundreds of people in Sanford, state officials say. State and local officials have approved performance-based incentives packages potentially worth millions of dollars.
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With VinFast plans delayed, Chatham County moves toward canceling $400M incentives deal
Vietnamese automaker VinFast promised to begin production in Chatham County by July 1 in exchange for lucrative tax breaks. The county is now trying to cancel its agreement with the company, saying it failed to uphold its end of the deal.
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In NC economic rankings, strong sectors overshadow affordability issues, for now
Finance network CNBC ranked the Tar Heel State the second-best state to do business in the latest edition of its annual rankings. It's the seventh year in a row the state has ranked among the top three.
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UNC works with consultants to create ‘place vision’ for Carolina North expansion
UNC's major Carolina North development continues to move forward. As the project enters its first phase of development, the university has hired consultants to create a "place vision," which they describe as a "North Star" for the project.
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Amazon and Corning partner to boost fiber optics manufacturing in North Carolina
The multibillion-dollar deal would create about 1,000 advanced-manufacturing jobs in the state, plus hundreds of construction jobs, to expand Corning’s North Carolina facilities and create a workforce development program.
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Healthcare providers brace for Medicaid cuts. Are layoffs in rural NC next?
More than 250,000 North Carolinians could be kicked off Medicaid next year. The cuts have the potential to devastate local economies, particularly in rural areas, if hospitals and health clinics respond by conducting layoffs or shutting down entirely.
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The White House intervened to get a $620 million deal for a company tied to Donald Trump Jr.
About three months before the Pentagon announced plans to lend money to Vulcan Elements, Trump Jr.’s venture capital firm took an undisclosed stake in the company.
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JetZero adjusts early NC hiring targets, citing state budget delay
The startup aerospace manufacturer, which announced plans to hire 14,500 employees in Greensboro, says it doesn’t plan to create hundreds of jobs in 2027 after all. It now plans to start creating jobs in 2028. A groundbreaking ceremony is planned for next month.
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Proposed asphalt plant near Nomaco Park denied by Zebulon leaders in hours-long meeting
East Wake LLC's proposed asphalt plant would have been at 1444 Old US 264 Highway, just down the road from Nomaco Park, the former home of the Carolina Mudcats and the current home of the Zebulon Devil Dogz.
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‘We had a deal’: In NC’s case against VinFast, a debate over the definition of ‘vertical’ looms
North Carolina Attorney General Jeff Jackson is suing to reclaim Chatham County economic development land from an automaker. The case could center on what constitutes ‘vertical construction.’
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Zebulon debates adding new asphalt plant on Old US 264 Highway
Zebulon could be adding a new asphalt plant along Old US 264 Highway, but for now, it's under review from town commissioners. A public hearing is scheduled to continue on May 26.
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Biopharma company AbbVie to create 730 jobs in Durham
Biopharma company AbbVie plans to bring 730 jobs to Durham County as part of $1.4 billion manufacturing investment. State officials approved an incentives package worth up to $26 million. It's one of the biggest private investments in Durham history.
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Epic Games to cut 1,000 jobs, including 200 in Cary, as Fortnite slows
Video game-maker Epic Games is laying off 1,000 and identifying $500 million in additional cost savings as downturn in Fortnite engagement continues, the Cary-based company says.
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EV maker VinFast to restart construction on Chatham County plant
After years of setbacks and delays, electric vehicle maker VinFast could be back on track to build in Chatham County.
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Residents near proposed Apex data center relieved project is scrapped, says more work needed
Natelli Investments has withdrawn its applications to build a data center near the Shearon Harris Nuclear Plant, citing the town of Apex’s ongoing deliberations over necessary zoning changes.
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Steel startup announces $875M factory, hundreds of jobs in northeastern North Carolina
U.S. Forged Rings is expected to build a new plant in Hertford County. The project could create more than 700 jobs. Lawmakers last year earmarked millions for a dock to benefit the steel industry in the county.
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Steel startup plans major factory and hundreds of jobs in northeastern North Carolina
U.S. Forged Rings is expected to announce the site of a new manufacturing project in Hertford County, where steel supplier Nucor has also been accumulating property. Lawmakers last year earmarked millions for a dock to benefit the steel industry in the county.
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Microsoft moving forward with data center in Person County, officials say
The project has been in the works for almost three years, economic developers say, but the company has been quiet about its plans at the site in Woodsdale Township.
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NC commerce officials cancel incentives deals with six companies
The incentives deals, including three tied to projects in the Triangle, were terminated Tuesday by the state Commerce Department’s Economic Investment Committee. Many of the companies couldn’t meet hiring targets or failed to file required performance reports.
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NC commerce officials cancel incentives deals with six companies
The incentives deals, including three tied to projects in the Triangle, were terminated Tuesday by the state Commerce Department’s Economic Investment Committee. Many of the companies couldn’t meet hiring targets or failed to file required performance reports.
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Lumbee buy 240 acres for economic development, possible casino
Tribal leaders say the land off Interstate 95 could be used for a variety of economic development projects. Gaming properties ‘will be determined by the will of the Lumbee people,’ Tribal Chairman John Lowery says.
