Stella M. Hopkins
Carolinas Business News
Charlotte Observer
February 2, 1999

Despite global financial woes and stock market gyrations, the 1998 tally of announced new and expanded business for North Carolina reached $7.8 Billion--42 percent ahead of last year and also breaking the $7 billion record set in 1992.  Job growth--46,261 new jobs--lagged the previous year by nearly 19 percent.

Foreign-owned companies accounted for $1 billion of investment, or more than 12 percent of the state's total.  Those projects include 7,173 jobs.

There were 433 announcements of new locations, up 16.7 percent from 1997.  The announcements include 286 new nonmanufacturing sites valued at $3.1 billion, more than double the 1997 total.  The 147 new manufacturing locations represent a total investment of $4.7 billion and include Nucor's $300 million steel mill, a deal that broke the NC record for new manufacturing investment.