Memorable month.
Author | Mildenberg, David |
Position | UPFRONT |
AN ACCLAIMED RANKING AND KEY BUSINESS DEALS REFLECT THE STATE'S ATTRACTIVENESS. AND JIM DODSON'S TRUMP BUMP.
North Carolina's winning ways didn't end with the Tar Heels' victory in the NCAA men's basketball tournament in April. May was a remarkable month for the state.
* Site Selection magazine rated the state as the best business destination in the U.S., its third straight year atop the rankings.
* The state's key role in finance accelerated with Switzerland's Credit Suisse and France's AXA announcing a combined 1,750 jobs in the Triangle and Charlotte. Few states have such major bases of big finance companies: Bank of America, Barings, Deutsche Bank, Fidelity, MetLife, TIAA, Vanguard and Wells Fargo, among others.
* The Triangle's place as the center of the world drug-trials industry was solidified with INC Research's $4-6 billion bid for Boston-based InVentiv. Like financial services, clinical-research jobs require more skills and pay much higher wages than most industries.
Politicians and promoters of all stripes seek glory for that success, but who is responsible shouldn't matter. The roots of North Carolina's attractiveness date back generations and span all political persuasions. Companies like our universities, which are popular with liberals and require hefty public support. Companies like our lower taxes, which conservatives promote.
Sustaining the success and devising ways to spread benefits more evenly, both geographically and socio-economically, is what counts, but there's lots of work to be done. About 16% of North Carolinians had incomes below the poverty line--$24,250 for a family of four--in 2015. The state ranked 39th nationally, according to the Center for American Progress. Neighboring Virginia had an 11% rate.
We look forward to the day when we top that ranking.
My friend and colleague Jim Dodson is a celebrated, best-selling author, an unceasing lover of North Carolina--especially his hometown of Greensboro--and one of the kindest guys you'll ever meet. He oversees four of Business North...
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