North Carolina Wins Third Consecutive Prosperity Cup

North Carolina took home its third consecutive Prosperity Cup, recognizing state-level economic development competitiveness and success in capital investment projects. According to the index, two projects put North Carolina over the top.

Accounting for $9 billion in capital investment in the state, Vietnamese EV and battery manufacturer VinFast picked the Triangle Innovation Point mega site for its three-part manufacturing center — to produce electric cars, buses, and batteries. A $2 billion initial investment for phase 1 is expected to grow to $4 billion. The project will employ 7,500 in the entire operation.

Semiconductor manufacturer Wolfspeed plans to invest $5 billion over the next eight years to produce Silicon Carbide materials in a manufacturing campus. It will create more than 1,800 jobs by 2030.

You can read about the ranking on Site Selection Magazine’s website.