Setting a new benchmark in economic growth, North Carolina has announced a record-breaking number of new jobs for the year, according to Gov. Josh Stein’s recent announcement. As 2025 draws to a close, the state has secured commitments for 33,745 new positions and $23.1 billion in capital investments.
“The state is strong and growing, and we’re excited about it. What we want to do is make sure that we do not relent, we do not let up, we keep on our toes, we keep aggressive. Because it’s about delivering opportunity for people,” Stein shared with the press.
Collaboration across political lines has been cited as a crucial element of these achievements, with Stein highlighting the joint efforts of his Democratic administration, the Republican-led General Assembly, and local economic bodies. N.C. Commerce Secretary Lee Lilley emphasized the importance of bipartisan cooperation, stating, “Economic development projects are complex and require cooperative support that transcends county lines and political affiliation to persuade a company that our state can meet their needs and create great jobs.”
In 2025, CNBC recognized North Carolina as the leading state for business, underscoring its appeal for the third time in the past four years. The year’s most significant job creation project was spearheaded by JetZero, which is developing a $4.7 billion airplane manufacturing hub in Guilford County, promising 14,500 new jobs.
Targeted Industry Growth
The Economic Development Partnership of North Carolina, led by CEO Christopher Chung, has strategically targeted specific sectors such as aerospace, advanced manufacturing, biotech, and electric vehicles. Chung highlighted the focus on industries with high growth potential and competitive wages, noting the importance of statewide geographic diversity in their strategy.
In addition to JetZero, several other major projects have been announced. Vulcan Elements is investing $918.4 million in a Benson magnet factory, expected to create up to 1,000 jobs (source). Jabil plans to spend $500 million on artificial intelligence infrastructure in Rowan County, creating 1,181 jobs (source), while Novartis will invest $771 million in Durham and Morrisville, adding 700 new positions (source).
Office space and headquarters have also seen growth, particularly in Charlotte, where Scout Motors and Maersk have announced significant expansions. Scout Motors will create around 1,200 jobs with an average salary of $172,878 at their new headquarters (source), and Maersk will move its North American headquarters to the city, adding 500 jobs with average salaries of $100,000 (source).
“There weren’t a whole lot of big office announcements up until this year. I think that’s been one of the bright spots and throughlines of 2025 is, office deals are coming back,” Chung observed.
Strategic Use of Incentives
To attract large-scale projects, North Carolina often deploys attractive incentive packages. A notable example is the JetZero project, which could see incentives reach $1.01 billion over the next 37 years. However, the state anticipates a return of approximately $3.74 billion in revenue during the same period, contingent on the company meeting specific job creation and investment goals.
Stein stressed the importance of these incentives, noting, “The state doesn’t outlay money to the companies unless the companies meet their goals — their investment goals and their job goals. If they don’t, then they don’t get the incentive.”
