[Editor’s note: The N.C. Progress Board, a group created by state lawmakers to track trends in North Carolina and set goals for the state, issued its first report in December 2001.
[Each week, the Philanthropy Journal spotlights an issue examined in the report. The goals, targets and analysis below are those of the Progress Board.]
GOAL: North Carolina promotes dynamic, diverse and sustainable economic growth across all regions and demographic groups.
TARGET: North Carolina ranks in the top 10 in the U.S. in the long-term growth rate for gross state product.
After growing more rapidly than the national average for two decades, North Carolina’s gross state product has slowed in recent years – during which time the state’s per-capita gross state product ranking also has stalled.
MEASURE: U.S. rank in growth rate of the gross state product over time.
From 1977 to 1997, North Carolina ranked 9th in the U.S. in the rate of growth of its gross state product growth rate, according to the U.S. Department of Commerce, Bureau of Economic Analysis.
From 1989 to 1997, North Carolina’s gross state product grew at a rate of 23.5 percent, compared to 16.7 percent for the U.S., according to the N.C. Board of Science and Technology.
In 1998 and 2000, North Carolina ranked 21st among the states in per-capita gross state product, according to the Governing Sourcebook 1999 and 2001 and the Bureau of Economic Statistics.