Governor Pat McCrory has proclaimed October 3-7, 2016 as North Carolina Manufacturing Week. The proclamation salutes one of the state’s most powerful economic engines.
“North Carolina’s manufacturing economy leads the Southeast in employment and is respected around the world for its innovation, quality and productivity,” said Governor McCrory. “From aircraft components and home furnishings to food products and life-saving medication, we are a state with companies and people making things the world needs.”
Since Governor McCrory entered office in January 2013, North Carolina has added more than 300,000 net new jobs, including 19,800 manufacturing positions. The state’s 10,387 manufacturers employ more than 461,000 North Carolinians.
North Carolina manufacturers have benefited from the pro-growth tax reforms enacted under Governor McCrory’s leadership. Since the governor entered office, the state’s business income tax rate has been more than cut in half from 6.9 percent in January 2013 to 3 percent beginning in January 2017. According to The Tax Foundation, North Carolina has the most improved business tax climate in the nation since 2013.
Governor McCrory, Commerce Secretary John E. Skvarla, III, and other members of the governor's senior leadership team will visit manufacturers around the state. The week begins with an announcement today that Printful, the California-based unit of Draugiem Group, will open a 100,000-sq.-ft. facility in Charlotte that will employ 200 workers by the end of 2018. The company makes and ships t-shirts, posters and other printed items for e-commerce retailers around the world.
Manufacturing accounts for $88 billion in production, nearly 20 percent of North Carolina’s gross domestic product. It also has a potent economic impact: for every $1.00 spent in manufacturing, North Carolina’s economy generates $2.09, according to N.C. Commerce’s Labor and Economic Analysis team.
“North Carolina’s manufacturing industry is highly competitive on a global basis,” said Commerce Secretary Skvarla. “We drew nearly $2.7 billion in foreign direct investment into the state last year, and 93 percent of that capital went into manufacturing projects.”