Federal policymakers, North Carolina companies and other entities with a vested interest in North Carolina’s economy convened for a recent discussion at the Duke in DC office. Highlighting the importance of a research-based economy, the conversation emphasized the work occurring statewide to maintain North Carolina’s economic competitiveness as a global leader in recruiting and retaining industries and the positive return for investing in those practices.
The panel discussion, moderated by Duke University’s Vice President for Government Relations Chris Simmons, featured comments from Provost Alec Gallimore, Chris Chung from the Economic Development Partnership of North Carolina and Sara Lawrence, Director, Economic Development, RTI International.
As a world leader in biotechnology, national security, agriculture, healthcare, energy, and more, North Carolina’s strategic research collaborations propel it to the forefront of the global economy.
North Carolina currently ranks among the top 25 economies in the world. Recent data highlights that Duke University alone spends more than $1 billion annually with over 4,000 North Carolina-based vendors and contractors. In FY22, Duke ranked 9th in the nation for total research and development expenditures, surpassing $1.39 billion.
The focus of the panel and dinner discussion was to underscore for federal policymakers the crucial role of industry-academia partnerships in maintaining North Carolina’s research economy. The discussion also highlighted the need for state and federal support to reinforce these efforts.
The conversation explored why industries, ranging from electric vehicle manufacturers to life sciences leaders and more, new expansion opportunities in North Carolina., one expert Given the number of higher education institutions across the state, the panel agreed North Carolina is well-positioned to says it comes down to the abilityallow employers to find a qualified , upskill and retain a workforce, what policymakers can do to help those processes, the answer includes removing the barriers to the workforce, such as: access to childcare and trainings that might help employees succeed.
The panel also discussed how investing in talent impacts not only the large metro areas of North Carolina, but also extends into the most rural communities. North Carolina provides numerous opportunities to examine similar communities and their successes and implement successful economic models across the state. The panel of experts reinforced the need to share research, data and talent to help make North Carolina the next industry hotspot.
The conclusion of NC in DC highlighted the power of Duke University as a convener as attendees engaged in meaningful conversations and connections extending beyond the panel. Through programs like this, Duke remains a purposeful partner in showcasing that businesses, policymakers, and higher education professionals alike are working together to bolster North Carolina’s global competitiveness through a research-based economy.