Back on top: NC is No. 1 for business

After being knocked from its perch by Virginia, North Carolina is back.

In CNBC’s annual ranking of states, the Tar Heel state leads the list as the best state for business. We’ve occupied the top spot three of the last four years.

CNBC graded states on seven metrics (N.C. ranking in parentheses): infrastructure (11), workforce (4), economy (3), quality of life (29), cost of doing business (21), technology and innovation (13), and business friendliness (4).

New business announcements are a testament to the value North Carolina brings to businesses. In the last month alone, the Governor’s Office has publicized significant investments in the state.

Citigroup chooses Charlotte for expansion, bringing 510 new jobs.

AssetMark will create 252 jobs in the Queen City.

An auto industry supplier will make Rutherford County its new home.

Jabil selects Rowan County for its nearly 1,200 new jobs.

Software company BuildOps will establish an operations hub in Wake County, bringing 291 jobs.

JetZero selects Guilford County for its $4 billion airplane manufacturing hub.

What’s missing? Any announcement highlighting Burke County, despite having all of the qualities CNBC evaluates.

Burke County is “All About Advancing.” We have access to rail and a major interstate. Other nearby assets include the Foothills Regional Airport and Hickory Regional Airport.

The former Drexel Furniture site in Drexel is being cleared and is waiting to be claimed by a new industry. Unix is the lone resident of the Burke Business Park with plenty of space for new business neighbors. Let’s not forget the Great Meadows industrial site.

So, where do we go from here to ensure Burke isn’t left behind? What can we learn from communities scoring business wins?

We love living in Burke County, which offers a unique blend of industrial heritage and natural beauty. Some obstacles to economic growth, however, exist.

According to myFutureNC, the state’s labor force participation rate is 84%, well above Burke’s 57%. Nearly 58% of Burke residents have no degree or credential. Statewide, 10% of people ages 16-24 are neither in school nor working, compared to 17.6% in Burke.

The good news is that Burke County is heading in the right direction. In 2019, about 67% held no post-high school credential (compared to 58% now), and more than 20% of young people weren’t working as recently as two years ago, significantly higher than the current 17.6%.

Steps to improve the local business culture – like the new customer-friendly software system the county plans to implement (see our front page) – show Burke County’s door is open to economic development that benefits us all.

Let’s keep up the momentum. Community leaders, educators, and business advocates must align around a unified vision to make Burke County more competitive, and more visible.