Media Advisory: $7.38 Billion Spent in Federal Prime Contracts in North Carolina in FY2023

NORTH CAROLINA (APRIL 8, 2024).  The North Carolina Military Business Center (NCMBC), a business development and technology transition entity of the State of North Carolina embedded in the State’s community colleges and headquartered at Fayetteville Technical Community College, is pleased to announce that businesses executed $7.38 billion in federal prime contracts in our state in FY2023.  This included $4.11 billion in Department of Defense (DoD) prime contracts. 

“Each of these prime contracts – and perhaps billions more in subcontracts – grows jobs, expands the economy and tax base and improves quality of life for everyone in North Carolina,” said Scott Dorney, NCMBC Executive Director.  “The defense and federal economy in North Carolina remained strong in 2023, as businesses of all sizes across the state leveraged sustained opportunities to grow their federal business portfolios.  The State’s investment in growing the defense economy and its commitment to sustaining our military installations and warfighters are benefiting all North Carolinians every day.”

FISCAL YEAR 2023 FIGURES: 

  • Prime contracts from all federal agencies executed in North Carolina: $7.38 billion
  • Department of Defense prime contracts executed in North Carolina: $4.14 billion 
  • Business in 95 counties performed work for the federal government as prime contractors
  • Businesses in 79 counties performed work for the Department of Defense as prime contractors
  • Businesses in 38 counties performed over $10 million in federal prime contracts
  • Businesses in 14 counties performed over $75 million in federal prime contracts, including:
    • Cumberland: $1,975,239,358.85
    • Durham: $1,203,465,147.41
    • Onslow: $987,485,419.19
    • Craven: $531,310,820.15
    • Wake: $376,638,763.00
    • Guilford: $334,567,881.58
    • Mecklenburg: $209,207,752.97
    • Buncombe: $177,831,432.92
    • Pasquotank: $175,757,482.29
    • New Hanover: $130,181,938.35
    • Wayne: $115,796,725.31
    • Brunswick: $115,557,171.75
    • Forsyth: $91,708,643.25
    • Rockingham: $77,876,573.15

For a full list of county data and additional information, contact Courtney Smedick at courtney@ncmbc.us.