Major Manufacturing Coalition Endorses Strategic Economic Development Legislation

FOR IMMEDIATE RELEASE

June 4, 2025

CONTACT: Lu-Ann Coe Perryman, 919-818-0965

Major Manufacturing Coalition Endorses Strategic Economic Development Legislation

NCMA-Backed Bill Completes North Carolina's Four-Pillar Business Competitiveness Framework

RALEIGH, N.C. – The North Carolina Manufacturers Alliance (NCMA), representing the state's leading manufacturers and industrial employers, today announced strong support for comprehensive economic development measures found in SB 266 that will save customers $13 billion while protecting North Carolina’s position as the premier destination for business investment and job creation in America. All ratepayers – from commercial to small business and residential – will benefit from these significant savings.

The legislation represents the capstone of North Carolina's strategic four-pillar approach to economic competitiveness, adding reliable, clean, and affordable energy infrastructure to the state's proven foundation of competitive tax policy, world-class education systems, and accessible healthcare. This is a customer-first energy agenda that prioritizes economic development by ensuring energy costs support rather than hinder business growth and job creation.

Completing North Carolina's Strategic Investment Framework

Over the past decade, the General Assembly has systematically strengthened North Carolina's business climate through sustained policy enhancements across four critical sectors. Strategic investments in competitive tax policy, world-class education initiatives, and healthcare accessibility improvements have attracted billions in business investment and produced the skilled workforce that modern industries demand.

This energy infrastructure legislation adds the fourth and final pillar – reliable, clean and affordable power – creating an unmatched value proposition for businesses evaluating where to invest in America. The legislation ensures that energy policy serves the broader economic development strategy by keeping costs competitive and reliability high for customers.

$13 Billion Investment in Economic Competitiveness

According to analysis from the North Carolina Public Staff, the legislation will save customers $13 billion – resources that can be reinvested in business expansion and job creation rather than absorbed by unnecessary regulatory costs. These savings are achieved while maintaining the state's 2050 net-zero environmental target, ensuring North Carolina meets its sustainability commitments affordably.

Strategic Infrastructure for Growing Industries

North Carolina is attracting unprecedented investment from energy-intensive industries including automotive manufacturing, semiconductor production, and data centers. These sectors require predictable access to reliable baseload power that operates around the clock, 24/7.

The legislation enables utilities to build necessary energy infrastructure – including carbon-free nuclear power and reliable natural gas generation – through an all-of-the-above approach that ensures adequate power supply while maintaining cost competitiveness with other industrial states.

Enhanced Business Protection Framework

The legislation strengthens protections for North Carolina businesses through demand-based cost allocation, quarterly adjustments that prevent sudden rate shocks, enhanced oversight of utility infrastructure projects, and securitization tools that spread major costs over time rather than creating immediate financial disruptions.

Unprecedented Business Community Alignment

The legislation has achieved unprecedented unity among diverse business stakeholders on major economic development legislation. Supporting organizations include the North Carolina Manufacturers Alliance, the Carolina Industrial Group for Fair Utility Rates (CIGFUR), ElectriCities, the North Carolina Electric Membership Cooperatives, and the North Carolina Chamber of Commerce.

This broad consensus reflects recognition that North Carolina's four-pillar approach – competitive taxes, skilled workforce, quality healthcare, and reliable energy – creates a comprehensive framework that no other state can match for business investment decisions.

David E. Haines - President

About NCMA: The North Carolina Manufacturers Alliance represents the state's leading manufacturers, advocating for policies that support manufacturing competitiveness while ensuring reliable, affordable energy infrastructure.

###