Biotechnology and Pharmaceuticals

Biotechnology & Pharmaceuticals

#1 in Bio and Pharma Manufacturing in the United States by total employment

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Location

Forbes ranked North Carolina as the #1 Best State for Business in 2017, 2018 and 2019.  North Carolina’s prime location on the eastern seaboard means that almost half of the U.S. population is within a day’s drive. Four international airports, two deep water seaports and the largest consolidated rail system in the nation further enhance supply chain advantages.  

Workforce

North Carolina’s biotechnology industry is comprised of 600+ companies and over 60,000 employees, with biotech cluster growth of greater than 36 percent since 2001.  North Carolina provides access to 53 colleges and universities and produces over 22,500 STEM degrees annually which helps provide a steady pipeline of talented individuals into the workforce.

Business Climate

North Carolina ranks as #1 Best State for Business (Forbes 2017, 2018, 2019). Dominion Energy’s industrial rates are 13% below the U.S average and 30% below the east coast average. North Carolina is a right-to-work state and has a 2.5% corporate income tax rate which is the lowest in the country.

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