What Are The Biggest Industries In North Carolina?
North Carolina is a rapidly growing state with a diverse economy that provides employment to many of its citizens. It has been home to a wide range of industries, including agriculture, forestry, pharmaceuticals, automobile manufacturing, aerospace, and software development. In recent years, the state’s focus has shifted toward technology and financial services industries, with some of the world’s largest employers such as Bank of America, Apple, and Red Hat having operations in North Carolina.
North Carolina is home to a number of large industries, and the state is consistently ranked highly for its economic growth and job opportunities. In this article, we’ll take a look at the biggest industries in North Carolina and how they are contributing to the state’s economy.
Agriculture
North Carolina is the largest producer of sweet potatoes in the United States, accounting for 30 percent of the national production. Other major commodities include poultry, swine, fish, corn, soybeans, tobacco, and cotton. The state’s agricultural sector produces a significant portion of the nation’s tobacco and sweet potatoes.
The state’s agriculture industry is a major employer, with more than 148,000 North Carolinians employed in farming and related activities. Additionally, the North Carolina Department of Agriculture and Consumer Services estimates that the sector accounts for $77 billion of the state’s economy. The sector also accounts for 24 percent of the state’s total exports and 5 percent of North Carolina’s total Gross State Product.
Forestry
North Carolina is one of the leading states for forestry activity, providing a large portion of the nation’s timber products. The state is home to nearly 17 million acres of forest land, about two-thirds of which is owned and managed by the state government. The timber industry is one of the state’s largest employers, providing jobs to more than 37,000 people in the North Carolina mountains.
The forestry sector has a significant impact on North Carolina’s economy, with timber products accounting for $2.2 billion in export value. In addition, the forestry industry is responsible for producing quantities of paper products, charcoal briquettes, lumber, and other hardwood products. The state’s forest products industry is now focusing more on producing newer, higher-value products such as furniture, paper packaging for products, and flooring.
Pharmaceuticals
North Carolina is home to a number of renowned pharmaceutical companies, including GlaxoSmithKline, Novo Nordisk, and Pfizer, among others. The state has been dubbed “the Silicon Valley of biotechnology” due to its focus on life science innovation, drug development, and drug manufacturing.
North Carolina’s life science and pharmaceutical industry is an important contributor to the state’s economy, responsible for more than $22 billion in economic output each year. The sector employs more than 36,000 people and generates $11.8 billion in wages. North Carolina is also home to a number of pharmaceutical research centers, clinical research organizations, and medical device companies.
Automobile Manufacturing
North Carolina is home to a number of large automobile manufacturing companies, including Toyota, Honda, BMW, and Mercedes-Benz. The state’s automotive industry is an important contributor to North Carolina’s economy, with more than 143,000 direct and indirect jobs associated with motor vehicles and parts manufacturing. The state produces more than 6.4 million vehicles annually, and it is also home to numerous auto parts suppliers.
The automobile manufacturing industry in North Carolina accounts for $71 billion annually in state economic activity, employing 243,000 people in total. The state attracts a large number of industry-related businesses, such as engineering, design, and testing services, due to its convenient location and well-educated workforce.
Aerospace
North Carolina is home to a thriving aerospace sector, comprised of aerospace manufacturers, research facilities, and aerospace-related businesses. The sector is responsible for employing more than 21,000 people across the state, and it has a total economic output of approximately $1.6 billion. North Carolina’s aerospace industry also produces a variety of products, ranging from aircraft engines and components to Earth observation systems and communications satellites.
In recent years, North Carolina’s aerospace sector has seen significant growth, with new technology and collaborations with organizations such as the National Aeronautics and Space Administration (NASA) and the North Carolina Research Triangle Park. The sector is a major employer of research scientists, engineers, technicians, and other skilled personnel.
Software Development
North Carolina has been a hub for software development since the early 2000s, when a number of tech companies began establishing themselves in the state. Today, software development has become one of the most important industries in North Carolina, employing more than 79,000 people and generating more than $8.5 billion per year.
Among the leading software development companies in North Carolina are Red Hat, SAS Institute, NC State University, and Luxoft Technologies. The sector continues to expand, with a wide range of software development projects being created each year. Additionally, software development is one of the most attractive industries for talented computer scientists and engineers due to its high job availability and comparatively large wages.
North Carolina is home to a number of large and growing industries, including agriculture, forestry, pharmaceuticals, automobile manufacturing, aerospace, and software development. Each of these industries make a significant contribution to the state’s economy, employing hundreds of thousands of people and generating billions of dollars annually. The state’s focus on innovation and emerging technologies, along with its location and highly educated workforce, make it an attractive destination for numerous corporations and businesses.
