The State Of North Carolina’s Economy

North Carolina Incorporation. The Governor announced that Motor Racing Network will relocate to Concord, in Cabarrus County, not far from Charlotte, investing $2.15 million in the next three years. The announcement was made possible in part by a $50, 000 One North Carolina Fund grant. Motor Racing Networks’ relocation from Florida to North Carolina will be a strong and above the $6 billion-a-year motor sports economy, where 14, 000 people are directly used in the motor sports field. MRN Radio is the main source for NASCAR stock car racing and related radio programming and is a subsidiary of International Speedway Corp. The One North Carolina Fund assists the state in industry recruitment and expansion by providing financial assistance through local governments to attract business projects. Through the Fund, more than 25, 000 jobs and $3.5 billion in investment have been established since 2001.

Any college in North Carolina that you seek to secure admission in will provide a variety of courses and study options. Around 17 state colleges and institutions are covered by the North Carolina University System. Additionally, there are multiple independent universities and colleges in the condition of North Carolina.

North Carolina Economy: Expanding The Circle

The state capital is Raleigh. This has about 300, 000 population in a metropolitan area of 900, 000. Raleigh’s industries include electrical, medical, electronic, telecommunications equipment, food processing, paper products, pharmaceuticals, and clothing apparel. Raleigh is part of North Carolina’s Research Triangle, and a centre of research and textiles. The city is a major retail shipping point for eastern North Carolina. The following companies are based in or operated in Raleigh, Siemens Power Transportation & Distribution, Progress Energy, IBM, Asea Brown Boveri, a leading supplier in the electric power industry and automation, Martin Marietta Materials, Inc., and First Citizens Bank.

Wilmington, North Carolina is placed on the Atlantic Coast, with a population of about 100, 000 and over 300, 000 in its metropolitan area. It is the haven of North Carolina. More port facilities are planned down the Cape Fear River at Southport. Durham, a city in the centre of North Carolina, has been historically connected with the tobacco industry and the cloth industry. The city is the home of Duke University, and is something on the Research Triangle of North Carolina. Also in the triangle is the town of Chapel Hill, home of the University of North Carolina, along with Raleigh. This area has been devoted to hi-tech and computer research. Companies located here include IBM, Nortel Networks, Credit Suisse First Boston, and Cisco Systems. In addition to high-tech, the region has major facilities of pharmaceutical companies like GlaxoSmithKline, Biogen Idec, BASF, Merck & Co., and Wyeth. Other major employers are BASF, Bayer, Dupont, and the U.S. Environmental Protection Agency.


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