Financial analyst firm ranks North Carolina economy among best in U.S.

RALEIGH, N.C. (WITN) - Moody’s, an international financial research firm, has declared that North Carolina’s economy is one of the best in the country, thanks to entrepreneurs in the state.

According to Secretary of State Elaine Marshall, the first two quarters of 2022 totaled about 93,000 new businesses - making them the second and third highest on record. This is in stark contrast to 52,000 new businesses starting in the first half of 2020 amid the onset of the pandemic. That’s nearly an 80% growth in two years.

“While we have seen a slight moderation to the blistering pace we set last year, entrepreneurs over the last 18 months continue to create new businesses at a torrid pace. These are tens of thousands of dreams becoming a reality each month, and jobs in their communities,” Marshall said.

Marshall adds that the state’s business climate was also recently ranked highly, with CNBC and others ranking it as the best in the nation.

Resources for Innovators, Start-Ups, & Entrepreneurs (RISE) was started by Marshall to connect new businesses to local, state, and national resources that offer free business planning advice, low-cost loans, and help identify markets and develop marketing plans.

WITN is told that more than 1.7 million new businesses have been created during Marshall’s administration.

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