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Overview 

With a population of 10.9 million, North Carolina plays a big role in the U.S. economy. The state has a GDP of $651.7 billion, of which construction contributed $25.6 billion. There were 943,000 construction establishments in the U.S. in the first quarter of 2024, including 37,800 in North Carolina. 

Major Projects and Growth Opportunities 

Tech hubs are being built in Raleigh and Charlotte to support the growing tech industry, as are new hospitals and healthcare clinics to address an aging population. The finance sector has also grown in North Carolina, often requiring expansion of existing buildings as well as adding new banks and insurance centers. 

Sustainability and Infrastructure 

North Carolina invests in green energy, such as wind and solar power. It also works on water use and cutting carbon emissions. The state also has several initiatives focused on better public transit and more electric vehicle charging spots. All of these projects represent opportunities for construction professionals interested in green building and infrastructure upgrades. 

Challenges

Commercial construction professionals looking to operate in North Carolina need to be aware of environmental concerns, such as recent natural disasters and ongoing climate change, which could provide building opportunities and challenges for long-tail projects.

Future Outlook

The future of North Carolina has some positives and negatives. Growth is expected to continue but may slow down due to economic and climate problems. Investment in fields like biotech and clean energy could increase economic growth. Green and smart policies will shape the future, but housing costs and climate risks must be addressed for long-term growth.

WPP North Carolina CHART_20241118.01

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Top 50 Cities in North Carolina

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