North Carolina, February 3, 2026
North Carolina’s economy shows significant growth, with seven companies successfully exceeding their job creation and capital investment commitments. Notable contributors like Red Hat and Parexel have surpassed targets by creating hundreds of jobs and investing millions. The state’s economic landscape remains strong, supported by initiatives that emphasize workforce development and infrastructure improvements as North Carolina aims for continued prosperity.
North Carolina Companies Exceed Job Creation and Investment Pledges
North Carolina’s economy is demonstrating robust growth as an update released on February 2, 2026, reveals that seven companies have successfully surpassed their commitments for job creation and capital investment across the state. These achievements highlight the effectiveness of economic development initiatives and the strong partnership between the state and its business community. The Economic Investment Committee (EIC) of the N.C. Department of Commerce is responsible for tracking these incentives, ensuring accountability for job creation promises.
Companies Surpass Targets
Among the companies that have notably exceeded their goals is Red Hat, which created 356 jobs, significantly surpassing its target and achieving an average annual wage of $379,651. This represents 457% of their initial wage target. The company also retained 1,168 existing jobs and invested $14.1 million in expansion. For its 2024 performance, Red Hat received an $827,250 payment as part of a 12-year state incentive package totaling approximately $15 million.
Parexel, a contract research and services company for the biopharmaceuticals industry, pledged in 2019 to create 264 jobs with an average annual salary of $110,511 in Durham for a second U.S. headquarters. It has since created 312 jobs with an average annual wage of $187,008, exceeding both job creation and wage targets. The company has also retained 632 workers in the state. Parexel was awarded $376,500 for 2024 as part of its 12-year state grant that could reach nearly $4.2 million.
Austin, Texas-based Dimensional Fund Advisors, in 2015, committed to establishing an East Coast headquarters in Charlotte with a $105 million investment, aiming to create 316 jobs at an annual salary of $147,025. The company, which develops investment solutions from academic research, has since created 286 jobs with an average annual salary of $214,338 and invested $157.3 million. Although its job creation was slightly below the initial numerical target, falling within 90% of the target, it still met its job creation goal. Dimensional Fund Advisors received a $1 million payment for 2024 as part of a multi-year state incentive package potentially totaling $10.3 million.
Japanese packaging company American Fuji Seal, in 2020, pledged to create 46 jobs with an annual wage of $48,744 in Hickory. The company has since created 91 jobs with an average annual wage of $51,716.
Broader Economic Landscape and State-Level Achievements
North Carolina experienced a record-breaking year in 2025 for job commitments and capital investments. Governor Josh Stein announced more than 35,000 new job commitments and over $24 billion in new investment from economic projects across the state in 2025. This reflects coordinated efforts among state, regional, and local partners to support business expansion and recruitment. These project announcements spanned 56 counties, covering diverse industries such as aerospace, life sciences, advanced manufacturing, and supply chain operations.
The state has been recognized as the Top State for Business by CNBC for the third time in the past four years, lauded for its strong economy, workforce, and business-friendly environment. In 2025, Business Facilities magazine named North Carolina the State of the Year for Economic Development. Site Selection Magazine also ranked North Carolina as the 2026 Top State for Workforce Development, acknowledging its strong higher education, apprenticeship, and innovative workforce programs.
The Economic Development Partnership of North Carolina (EDPNC) plays a crucial role in promoting the state for business, attracting new companies and talent, and providing research support. In 2024, the EDPNC and its partners successfully competed for 140 new corporate facility and expansion projects, projected to create 16,555 new jobs and over $14.8 billion in new investment. Life sciences and clean energy projects were particularly prominent in 2024. Notable projects included a 1,000-job, $4.1 billion expansion by Novo Nordisk in Johnston County, and a 1,062-job, $1.4 billion sodium-ion battery gigafactory by Natron Energy in Edgecombe County.
Supporting Infrastructure and Workforce Development
North Carolina’s commitment to preparing industrial sites for development through programs like the Selectsite Readiness Program further enhances its economic competitiveness. This program helps communities prepare mid-sized industrial properties for high-impact projects, with Halifax County receiving a $3 million grant for site development.
The state’s electric cooperatives have also contributed to economic growth in rural areas through the U.S. Department of Agriculture’s Rural Economic Development Loan and Grant (REDLG) program. In 2025, North Carolina’s electric co-ops were awarded over $8 million in funding across 17 projects, supporting job creation and boosting economic growth in rural communities.
The minimum wage in North Carolina is $7.25 per hour, representing the statutory minimum an employer must pay.
Future Outlook
The continued success of companies fulfilling their job and investment pledges, combined with a strong pipeline of new projects and state-level initiatives, positions North Carolina for sustained economic prosperity. The focus on workforce development, infrastructure improvements, and strategic partnerships aims to ensure that growth benefits all regions of the state.
FAQ
Q: What is the latest news regarding companies delivering on job promises in North Carolina?
A: An update from February 2, 2026, indicates that seven companies in North Carolina have successfully exceeded their job creation and capital investment commitments.
Q: Which companies were highlighted for exceeding their job creation targets?
A: Red Hat, Parexel, Dimensional Fund Advisors, and American Fuji Seal were specifically mentioned for surpassing their job creation and investment goals.
Q: What were some of Red Hat’s achievements?
A: Red Hat created 356 jobs, exceeding its target with an average annual wage of $379,651, which is 457% of the initial goal. The company also retained 1,168 jobs and invested $14.1 million in expansion.
Q: How did Parexel perform against its commitments?
A: Parexel created 312 jobs with an average annual wage of $187,008, both well above its job creation and wage targets, and retained 632 workers in the state.
Q: What was North Carolina’s overall economic performance in 2025?
A: In 2025, North Carolina announced more than 35,000 new job commitments and over $24 billion in new investment from economic projects, marking a record-breaking year.
Q: What is the role of the Economic Development Partnership of North Carolina (EDPNC)?
A: The EDPNC promotes North Carolina as a premier state for doing business, working to attract new businesses and talent, and providing research support.
Key Features of North Carolina’s Economic Development
| Feature | Description | Scope |
|---|---|---|
| Companies Exceeding Job Pledges | Seven companies have surpassed their job creation and investment commitments as of February 2, 2026. | State-level |
| Red Hat Performance | Created 356 jobs (457% of wage target), average annual wage of $379,651, retained 1,168 jobs, invested $14.1 million. | State-level |
| Parexel Performance | Created 312 jobs (above target), average annual wage of $187,008 (above target), retained 632 workers. | State-level |
| Dimensional Fund Advisors Performance | Created 286 jobs (met goal), average annual wage of $214,338, invested $157.3 million. | State-level |
| American Fuji Seal Performance | Created 91 jobs (above target), average annual wage of $51,716. | State-level |
| 2025 Job Commitments | Over 35,000 new job commitments announced in 2025. | State-level |
| 2025 Capital Investment | Over $24 billion in new investment from economic projects in 2025. | State-level |
| EDPNC 2024 Achievements | Assisted 140 projects, creating 16,555 new jobs and over $14.8 billion in new investment. | State-level |
| Top State for Business Recognition | Ranked by CNBC for the third time in four years. | State-level |
| State of the Year for Economic Development | Awarded by Business Facilities magazine in 2025. | State-level |
| Top State for Workforce Development | Ranked by Site Selection Magazine in 2026. | State-level |
| Minimum Wage | $7.25 per hour. | State-level |
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