Stein announces economic development plan

On May 20, Gov. Josh Stein, in partnership with the North Carolina Department of Commerce, announced the state’s new “First in Opportunity” economic development plan for growth, competitiveness, and the development of opportunity statewide.  

“The ‘First in Opportunity’ Plan is about ensuring North Carolina remains competitive while creating opportunity in every corner of the state,” Stein said in a press release. “As our state continues to grow, we must invest in our public schools and workforce development efforts, attract and sustain thriving businesses, and drive economic success for all our people.”

The plan outlines a four-year vision for statewide economic progress through a holistic approach that builds on the success of the 2021 “First in Talent” strategy, expanding the focus to address current economic priorities and drivers, according to the press release.

“Over the past decade, North Carolina has maintained a position as a top economic performer, supported by a robust education system, a highly skilled workforce, and a diverse industry base,” reads the plan. “Sustaining our progress and ensuring that all North Carolinians have the opportunity to thrive will require strategic reinvestment in the very foundations of our success: our people, businesses, and communities.”

Input from stakeholders and communities across the state is reflected in the plan, while recognizing that North Carolina is among the top states for economic performance, according to the press release.

“All economies are planned,” Brian Balfour, VP of research at the John Locke Foundation, told the Carolina Journal. “The economic dispute dominating the last 100-plus years has been this question: who does the planning? Are individuals allowed to script and follow their own plans, or is one centralized plan to be imposed on everyone?”

The plan has four major goals: modernizing and strengthening state infrastructure to support sustainable growth; accelerating economic competitiveness through innovation and strategic industry investment; improving community well-being by expanding access to affordable housing, child care, and health care; and building a resilient, future-ready workforce through stronger statewide coordination and workforce development.

But Balfour disagreed with the premise that this level of planning was necessary for an economy’s success.

“Government central planning has been a disaster everywhere it’s been tried; the last thing we need is for politicians further to strengthen their grip on North Carolina’s economy, imposing their plans and, in so doing, overriding the plans of individuals,” said Balfour. “We can look to the JDIG program and how 82% of completed projects failed to meet their job creation goals. To thrive, our economy needs less centralized government direction and greater freedom for individuals and entrepreneurs to drive growth.”

A Strategic Economic Development Plan Steering Committee was assembled by Stein and NC Secretary of Commerce Lee Lilley, composed of leaders in business, education, workforce development, local government, and nonprofit organizations, to guide the plan’s progress, according to the press release. Chaired by Lilley, the committee advanced outreach and public engagement initiatives, evaluated stakeholder input, and contributed to policy and program recommendations to expand economic opportunities throughout North Carolina.

“Every region of North Carolina must have the tools and resources to foster economic opportunity and drive generational prosperity,” said Lilley in a press release. “The ‘First in Opportunity’ Plan challenges us to develop a dynamic and durable workforce, strengthen infrastructure, spur innovation and entrepreneurship, and invest in critical economic foundations like housing, child care, and health care so communities across North Carolina can compete, grow, and thrive.”

The NC Department of Commerce, in partnership with the University of North Carolina at Chapel Hill School of Government’s NCIMPACT Initiative, will lead nine public listening sessions across the state’s prosperity zones during the community engagement phase of the planning process, as well as facilitate a statewide webinar engaging 650 participants across 91 counties, according to the press release.

Lilley highlighted Wilson as an example of a town that has benefited from long-term investment and strategic collaborations. 

“Wilson’s growth is the result of years of intentional investment in our downtown, small businesses, tourism assets, workforce development and training programs, and community infrastructure, like the Pine Nash Redevelopment,” said Mayor Carlton L. Stevens in a press release. “We’re proud of the partnerships that have helped transform our community and position Wilson as a place where businesses, residents, and visitors want to invest and grow.” 

During a visit to Wilson by Lilley and Reginald Speight, assistant secretary of Rural Economic Development under the Department of Commerce, projects showcasing the impact of strategic rural investment and downtown revitalization efforts were highlighted, including: Vollis Simpson Whirligig Park, Warbirds Stadium and nearby development projects, according to the press release.

Several of these projects were funded by state rural economic development programs designed to strengthen downtown infrastructure, build community capacity, and spur business growth. Wilson received a Rural Downtown Economic Development Grant of $850,000 in February 2025 to fund the Barnes Street Rehabilitation project, converting two downtown properties into a connected space, including a visitor center, office space, maker space, and a whirligig maintenance facility, while supporting additional economic activity downtown. A Building Reuse Program grant was also awarded to North State Consulting to fund the rehabilitation of a long-vacant historical building downtown.

“Stein announces economic development plan” was originally published on www.carolinajournal.com.