With the recent announcement of JetZero’s plans to build a new generation of airplanes in Greensboro, North Carolina adds to a string of manufacturing jobs and capital investment announcements.
This marks a reversal of the trend of the last thirty years as manufacturing jobs have fallen by 42 percent from 1990 to 2023.i While total state employment grew by 1.75 million during that period, the number of manufacturing jobs fell by almost 375,000.ii
Moreover, the areas of the state that had the heaviest concentration of manufacturing (Hickory/Lenoir/Morganton, Rocky Mount, Burlington, Greensboro, Winston-Salem) have grown more slowly than the rest of the state in terms of employment. It’s no wonder that leaders want to rebuild our manufacturing sector, both for economic and national security reasons. Manufacturing is a sector that brings in financial resources. Our manufactured goods are sold not just locally, but all over North Carolina, the nation, and the world.
North Carolina’s state economic developers have focused on the manufacturing sector for that reason, as high-wage advanced manufacturing jobs are among the most competitively sought in the nation. Over the past decade, 74 percent of the announced project wins, 59 percent of the announced jobs, and 82 percent of the announced capital investment have come from manufacturing projects.iii
While manufacturing jobs and investment are an important part of North Carolina economic growth, it is risky to depend on one sector or one employer. In the 4th quarter of 2022, Haywood County had almost 2,600 manufacturing jobs paying $47 million in wages that quarter. Two years later, after the closure of the Pactiv paper mill in Canton, the county had 1400 manufacturing jobs paying $22 million for the quarter.
The loss of one employer caused a reduction of 10 percent of the entire county wage base. Haywood County is resilient, with other sectors growing jobs. Industry diversity will be the key to its recovery and to North Carolina resilience and recovery as well.
While manufacturing jobs fell by 1177 in the County, other job sectors grew by 919 even in the aftermath of Helene. Manufacturing jobs pay wages 25 percent above the county average, which is why they remain a key portion of a diverse economy.
A robust manufacturing base is a critical component of a diversified economy—one that can weather disruption, support upward mobility, and deliver long-term, inclusive growth. As we look ahead, our focus must remain on cultivating the workforce, infrastructure, and business environment needed to sustain this momentum. At the same time, we must continue to diversify and strengthen our regional economies. The NC Chamber Foundation remains committed to ensuring our state is equipped to support this balanced, forward-looking future.
iAuthor’s calculations based on Quarterly Census of Employment and Wages data, Bureau of Labor Statistics.
iiIbid.
iiiEconomic Development Partnership of North Carolina, "EDPNC Business Recruitment and Expansion Impact."
