As part of the ongoing efforts to explore internationalization opportunities, Distretto Campania Bioscience recently hosted a webinar under the framework of the Epicentre project. The session, aimed at fostering collaboration and business growth between Europe and North Carolina (USA), spotlighted the unique investment prospects within the state, offering an in-depth look at what makes North Carolina an ideal destination for international enterprises, especially those from the life sciences, biotech, and advanced manufacturing sectors. Presenting the opportunities offered by the U.S. market: Ryan Combs - Executive Director of the Research Triangle Regional Partnership; Luigi Mercuri - Managing Director of Investment Europe Economic Development Partnership of North Carolina; Krysta Covey - President of First Flight Venture Center and Hangar6 in RTP North Carolina.

North Carolina: A Thriving Economic Ecosystem

Situated on the U.S. East Coast, North Carolina has emerged as one of the most prosperous and innovative economic ecosystems in the country. With a diverse economy comparable in size to the GDP of Switzerland, the state offers a rich array of opportunities for businesses looking to expand into the U.S. market. The key sectors driving North Carolina’s growth include life sciences, quantum computing, fintech, and mobility. The region also boasts the largest research park in the U.S., the Research Triangle Park (RTP), home to over 300 companies and 60,000 employees, positioning it as a global hub for research and innovation.

Why North Carolina? Key Investment Drivers

1. Business-Friendly Environment
   North Carolina has cultivated a highly favourable environment for businesses, offering the lowest corporate tax rate on the East Coast, which is set to drop to 0% by 2030. This economic policy has encouraged a steady influx of companies, including major international players, such as Apple and Google, which have both announced plans to expand in the region. Additionally, the state’s regulatory landscape and low operational costs make it an attractive option for foreign companies looking to establish or scale operations in the U.S.
2. Strategic Location and Infrastructure
   North Carolina’s central location on the Eastern Seaboard provides easy access to key U.S. markets in the North, South, and Midwest. Its strong infrastructure includes two international airports offering direct flights to Europe, deep-water ports, and an extensive highway and rail network. This logistical advantage makes North Carolina a strategic choice for companies in sectors like manufacturing, where efficient supply chain management is critical.
3. A Highly Skilled Workforce
   With one of the highest levels of manufacturing labor availability in the southeastern U.S., North Carolina’s workforce is a significant draw for businesses. The state’s commitment to education, reflected in its vast network of world-renowned universities and community colleges, ensures a continuous pipeline of highly skilled talent. Furthermore, programs designed to reintegrate veterans into the workforce provide businesses with access to disciplined, process-oriented individuals.
4. A Hub for Innovation
   The Research Triangle, which connects the cities of Raleigh, Durham, and Chapel Hill, is a focal point of innovation, particularly in the life sciences and biotech industries. Duke University, NC State, and the University of North Carolina at Chapel Hill have been instrumental in creating a thriving ecosystem where research and commercialization go hand in hand. Notably, the RTP is home to advanced sectors like nonwovens, EV manufacturing, and aerospace, offering businesses the opportunity to tap into cutting-edge technological developments.

Opportunities for European Businesses

For European businesses, particularly those in Italy and the Campania region, North Carolina presents a myriad of opportunities for collaboration and growth. The state has already seen a steady increase in investment from Italian companies over the last few years, especially in the life sciences sector. The presence of a skilled workforce, favourable tax policies, and a robust network of academic and research institutions provides the ideal conditions for European companies to thrive in North Carolina.

Support and Resources for International Companies

One of the highlights of the webinar was the introduction of resources available to companies looking to invest in North Carolina. The state offers dedicated support through its Economic Development Partnership, which assists companies in navigating the U.S. market, finding suitable office or manufacturing space, and connecting with local talent. Programs like the First Flight Venture Center, which was showcased during the event, provide specialized support for startups in high-tech and life sciences, offering lab space, mentoring, and access to venture capital.

Conclusion

As highlighted during the Epicentre project webinar, North Carolina is not only an economic powerhouse but also a vibrant, welcoming community for international businesses. The focus on innovation, education, and a business-friendly environment makes North Carolina an attractive destination for companies looking to expand into the U.S. market. With strong ties between Italy and North Carolina, and the added support from initiatives like the Epicentre project, now is the perfect time for European businesses to explore the opportunities that North Carolina has to offer.