Here are 51 business stats about North Carolina for 2025.
Basics:
Population: 10,835,491 (US Census 2020)
Population desnity per square mile: 214.70
GDP: $766,919 (millions USD)
GDP Per Capita: $71,373
Median household income (in 2022 dollars): $66,186
Real GDP Growth Rate: 2.70%
Total Employment: 5.0m
Unemployment Rate: 3.5%
Rankings
% Share of National Economy: 2.80%
State Economic Growth Rank (out of 50): 11
Population Growth Rank (out of 50): 18
Business Growth Rank (out of 50): 13
State Growth Rank in Employment (out of 50): 41
Biggest Industries In North Carolina By Revenue
- Life Insurance & Annuities: $60.6b
- Commercial Banking: $55.7b
- Hospitals: $42.4b
- Cigarette & Tobacco Manufacturing: $35.7b
- New Car Dealers: $35.2b
- Drug, Cosmetic & Toiletry Wholesaling: $34.3b
- Brand Name Pharmaceutical Manufacturing: $26.5b
- Supermarkets & Grocery Stores: $25.7b
- Public Schools: $22.9b
- Warehouse Clubs & Supercenters: $22.6b
Biggest Employers In North Carolina
- State of North Carolina: 82,000 (1.6%)
- Walmart Inc.: 61,670 (1.2%)
- Duke University: 43,100 (0.9%)
- Food Lion, Llc: 40,684 (0.8%)
- Atrium Health: 36,750 (0.7%)
- Amazon.Com, Inc.: 32,000 (0.6%)
- Harris Teeter, Llc: 20,390 (0.4%)
- United States Postal Service: 18,157 (0.4%)
- Bank Of America Corporation: 16,000 (0.3%)
- Lowes Companies Inc: 15,370 (0.3%)
Small Businesses In North Carolina
Number of Small Businesses 1,000,000
Percent of bossiness that are small businesses: 99.60%
Number of employees: 1,800,000
Share of Employment: 44.50%
Number of New Businesses In The Past Year: 39,539
Number of Businesses That Closed In The Past Year: 26,604
Net Change In New Businesses: 12,935
Number of Businesses With No Employees: 827,713
Number of Businesses with 1-19 Employees: 159,926
Number of Businesses with 20-499 Employees: 21,242
Share of Businesses Owned By Women: 44.80%
Share of Businesses Owned By Veterans: 8.00%
Share of Hispanic Owned Businesses: 7.40%
Share of Businesses Owned By Racial Minorities: 20.80%
Fortune 500 Companies In North Carolina
Number of Fortune 500 Headquaters: 13
Biggest Company: Bank of America
Biggest Company Type: Commercial Banks
Number of Employees: 216,823
Revenue (in millions): $115,053
Taxes In North Carolina
State Corporate Tax Rate: 2.50%
State Corporate Tax Rate Brackets: $0
State Sales Tax Rate: 4.75%
State Sales Tax Rank (out of 50): 35
Average Local Sales Tax Rate: 2.25%
Max Local Sales Tax Rate: 2.75%
Average Combined Sales Tax Rate: 7.00%
Combined Sales Tax Rank (out of 50): 27
Minimum State Income Tax Rate If You’re Single: 5.00%
Minimum State Income Tax Rate If You’re Married: 5.00%
General North Carolina Population Facts
In civilian labor force, total, percent of population age 16 years+: 61.40%
In civilian labor force, female, percent of population age 16 years+: 57.40%
Share of population which is foreign born: 8.30%
Mean travel time to work (minutes), workers age 16 years+: 25
Housing
Number of Housing Units: 4,979,204
Owner-occupied housing unit rate: 66.20%
Median value of owner-occupied housing units: $234,900
Median gross rent per month: $1,093
Households with a computer: 93.10%
Households with a broadband Internet subscription: 87.00%
Education
High school graduate or higher, percent of persons age 25 years+: 89.40%
Bachelor’s degree or higher, percent of persons age 25 years+: 33.90%
Also See
- North Carolina Registered Agent Services
- North Carolina Secretary of State Business Search
- How To Form an LLC In North Carolina
- North Carolina Bookkeepers & Bookkeeping Services
Sources
- https://en.wikipedia.org/wiki/List_of_U.S._states_and_territories_by_GDP
- https://en.wikipedia.org/wiki/Economy_of_North_Carolina
- https://www.ibisworld.com/united-states/economic-profiles/north-carolina/
- https://taxfoundation.org/data/all/state/2024-sales-taxes/
- https://taxfoundation.org/data/all/state/state-corporate-income-tax-rates-brackets-2024/
- https://taxfoundation.org/data/all/state/state-income-tax-rates-2024/
- https://advocacy.sba.gov/2023/11/14/2023-small-business-profiles-for-the-states-territories-and-nation/
- https://advocacy.sba.gov/wp-content/uploads/2023/11/2023-Small-Business-Economic-Profile-NC.pdf
- https://www.bls.gov/eag/
- https://www.bls.gov/regions/southeast/north_carolina.htm#eag
- https://www.census.gov/quickfacts/fact/table/NC,US/PST045223
- https://www.50pros.com/fortune500
Leave a Reply