New Survey Coming Soon
The latest economic impact study confirms the vital role our industry plays in North Carolina’s economy, environment, and the quality of life for all its residents. The North Carolina green industry is a powerful economic engine, contributing significantly to the state’s prosperity and demonstrating remarkable resilience and growth.
Key Findings:
- Overall Economic Impact: The industry’s total economic impact reached $15.8 billion, demonstrating its extensive reach across various sectors.
- Direct Contribution: The industry directly contributed $9.5 billion to North Carolina’s economy in 2023.
- Job Creation: The industry directly supports 65,745 jobs, with a labor income of $3.3 billion.
- Value Added: The industry’s total value-added production exceeded $9.1 billion, a substantial contribution to the state’s GDP.
- Growth and Resilience: The industry has more than doubled its direct economic output since 2005 and has shown resilience in recovering from economic downturns.
- Productivity Gains: Stable employment levels alongside economic growth indicate increased productivity per employee.
Challenges and Opportunities:
While the report highlights the industry’s strength, it also identifies key challenges and opportunities:
Weather Impacts: The industry must enhance preparedness and risk management strategies to mitigate the impact of severe weather events.
Labor Shortages: Addressing labor shortages will require innovative solutions and collaboration across sectors.
Renowned NCSU economists, Melinda Knuth PH. D. and Daniel Tregeagle Ph.D. lead the study. This important research is the result of advocacy efforts by the NCGIC.
Stay tuned for additional updates and insights!