N.C. leads southeast in wholesale and retail tradeWith an extensive interstate highway system and an abundance of cheap labor, clothing industries move to N.C. where products can be made cheaply and transported quickly.
N.C. leads the South in the industrial sectorN.C. is also the 12th most industrialized state in the country.
Research Triangle Park opensResearch Triangle Park opened in order to draw more technology-based jobs and industries to North Carolina, specifically the Raleigh-Durham-Chapel Hill Triangle in the central area of N.C.
Manufacturing employs 733,409 workersAccording to the 1970 census, manufacturing industries were the highest employers in N.C. Total population: 5,082,059
Total employment: 2,468,524
Employees in manufacturing industries: 733,409
Employees in transportation and public utilities: 99,784
Employees in retail trade: 304,967
Employees in service industries: 367,048
Government (including military) employees: 404,846
(1970 U.S. Census)
839,636 employed by manufacturingManufacturing still leads the state economy in employment. Total population: 5,881,766
Total employment: 3,059,868
Employees in manufacturing industries: 839,636
Employees in transportation and public utilities: 129,689
Employees in retail trade: 431,259
Employees in service industries: 493,398
Government (including military) employees: 525,675
(1980 U.S. Census)
N.C. goods estimate $60 billion valueManufacturing continues to lead the state economy in employment.
877,242 employed by manufacturing1990 Census: Total population: 6,628,637
Total employment: 3,928,125
Employees in manufacturing industries: 877,242
Employees in transportation and public utilities: 169,771
Employees in retail trade: 644,161
Employees in service industries: 835,454
Government (including military) employees: 614,772
NAFTA ImplementedThe North American Free Trade Agreement removed trade and investment barriers between the United States, Canada and Mexico. The agreement sought to foster a stronger economic relationship between these countries. In the process, many companies moved jobs to Mexico, where production costs were cheaper, leaving many Americans without jobs--including textile and manufacturing workers in N.C.
Rocky Mount Mills closesThe oldest mill in the South had been in opperation for 178 years, producing yarn.
Retail surpasses manufacturing in state economyThe retail industry expands 62% since 1970, while manufacturing only grows 8.7%. Total population: 8,049,313
Total employment: 4,924,918
Employees in manufacturing industries: 804,061
Employees in transportation and public utilities: 212,200
Employees in retail trade: 804,198
Employees in service industries: 1,337,657
Government (including military) employees: 740,400
(2000 U.S. Census)
18.6% of workforce employed by manufacturing
185 factories close over one year26,209 North Carolinians lose their jobs. Of the factories closed, 100 were in the furniture, textiles or apparel industries.
N.C. 6th in nation for tourismInvestment shifts away from manufacturing towards tourism and retail to accommodate the growing tourism industry. Visitors bring approximately $12.6 billion to the state annually.
Charlotte 2nd in bankingCharlotte ranks second only to New York City as one of the leading banking centers in the country.
Multi-Fiber Arrangement EndsThe Multi-Fiber Arrangement was an old quota on textile imports into the U.S. The removal of this quota left N.C. textile and apparel industries vulnerable to international competition.
Beginning of Economic Recession
N.C. unemployment reaches 9.7%The rate is the 6th highest in the nation.