Business Facilities Mag Ranks NC #4 in Biotech Strength, #5 in Business Climate

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North Carolina’s strength in the life sciences and its appealing overall business climate have landed it, again, among the nation’s best on Business Facilities Magazine's 16th Annual Rankings Report for 2020.

The state ranked number four in Biotechnology Strength and fifth in Best Business Climate.

The state landed in the top ten in nine of 26 categories in Business Facilities’ rankings. The national publication targets corporate site selectors and economic development professionals, helping businesses make location or relocation decisions.

California, New Jersey and Massachusetts ranked one, two and three, respectively in Biotechnology Strength. While Texas led the Best Business Climate ranking, followed by Virginia, Tennessee and Alabama, the magazine noted that North Carolina’s business diversity helped land it at number five.

“North Carolina has a growing reputation as a leading high-tech hub, but the Tarheel State hasn’t forgotten its roots as a leader in traditional sectors like furniture-making,” the publication wrote.

The report cites Centene Corporation’s new East Coast regional headquarters and technology hub in Charlotte as an indicator of the state’s strong business climate. Centene is a managed healthcare provider for public and private plans.

“The move will bring 3,237 new jobs to North Carolina and a total investment of more than $1 billion by 2032,” the publication noted.

The report also points to GoldenHome International’s $86 million investment in Concord as a sign of the state’s strong economic diversity. The company manufactures customized residential cabinet systems. According to the report, the company’s investment will create 257 jobs over five years.

“The company plans to base production, business operations, R&D, distribution, marketing and training at its new North American outpost in Concord,” the publication wrote.

In other categories, North Carolina ranked:

  • 8th in Workforce Development/Talent Attraction

  • 10th in Fast Growing States (population)

  • 4th in Unmanned Aerial Systems

  • 9th in Manufacturing Employment

  • 6th in Manufacturing Output

  • 10th in Foreign Direct Investment -- Projects
  • 10th in Opportunity Zones

Mindy Hamlin, NCBiotech Writer
Fri, 07/31/2020 - 11:43