‘We’re the best in the world’: NC recognized for economic development excellence

Cassia Sari
·2 min read
8

For the second year in a row, North Carolina won the Platinum Shovel Award for its economic growth and job creation.

The Platinum Shovel Award recognizes states that go above and beyond the gold standard for investment and job creation, the N.C. Department of Commerce wrote in a press release.

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“I’m proud of the people of North Carolina who deserve being recognized for economic excellence in 2022,” said Gov. Roy Cooper. “Our world-class workforce, our positive business environment, and our high-quality community colleges and universities continue to attract top businesses to our state.”

According to the CEO of the Economic Development Partnership of North Carolina, Christopher Chung, the state gained more than 28,000 jobs and $19.3 billion in capital investment.

The award is presented by Area Developments as a way to recognize states for achievements in attracting high-value investment projects. All states in the country submitted their top projects from 2022 and were scored based on the number of new jobs created in relation to the state’s population, among other factors.

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“Success in economic development takes a strong team, and Team North Carolina shows once again that we’re the best in the world,” said North Carolina Secretary of Commerce Machelle Baker Sanders.

N.C. shared the award with Tennessee in 2022 but is the only recipient in 2023. North Carolina was previously honored by Area Developments, having received Gold Shovel awards in 2018 and 2021 and Silver Shovel awards in 2009, 2011–2017, and 2019–2020.

North Carolina is also home to two projects recognized as Projects of the Year by the magazine. VinFast’s electric vehicle facility in Moncure won the 2022 Manufacturing Project of the Year for its projected job creation of 7,500 and investment of $4 billion. The first-ever fully automated distribution center by Macy’s Inc. won the 2022 Non-Manufacturing Project of the Year. The project is expected to create 2,800 new jobs and invest $584.3 million.

To read more about North Carolina’s economic successes in 2022, see this link.

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