Key Facts
- Per Capita Real GDP
- $37,053 Rank: 22/50 (2007)
- Population
- 9,222,410 Rank: 10/50 (2008)
- Per Capita Personal Income
- $32,234 Rank: 36/50 (2006)
- Unemployment Rate
- 4.90% Rank: 32/50 (2008)
- Business Tax Climate Index
- Rank: 40/50 (2008)
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North Carolina: Introduction
North Carolina lies on the Atlantic Coast, south of Virginia and north of South Carolina. Among its accolades, North Carolina holds the title of hosting the world’s first flight by a heavier-than-air object, thanks to the Wright brothers’ successful flight at Kitty Hawk, North Carolina. The Appalachian Mountains occupy much of the western portion of the state, with relatively flat coastal plains near the coast in the eastern part of the state.
The climate and soil in the coastal plains area create ideal growth conditions for tobacco. It has historically been the state’s cash crop and North Carolina continues to be the nation’s leading producer of tobacco. The early twentieth century saw a proliferation of textile manufacturing in North Carolina as farmers left the fields and went to work in factories. Recently the state has been particularly hard-hit by low cost textiles from Asia, though the industry still plays a vital role in the state economy. Apart from textiles, North Carolina is still a leader in other manufacturing industries. It is the second largest industrial state in the South with chemicals, computers, and machinery comprising the top industries.
North Carolina is also known for hosting one of the nation’s oldest and largest science parks. The Research Triangle Park (RTP) is a 7,000 acre development that is currently home to 157 companies. The RTP is supported by the presence of three universities, Duke University, North Carolina State University, and the University of North Carolina at Chapel Hill.
