Axios Live: North Carolina has a "secret sauce" that draws in talent, Gov. Stein says

RALEIGH, N.C. – North Carolina Gov. Josh Stein said at an Axios Live event that part of the state's success in drawing employees to the area, especially in its booming biotech industry, can be attributed to its affordability.

Why it matters: As metro areas compete for top talent and workers struggle with rising living costs, affordability is among the biggest draws.

• Axios' Zachery Eanes and Alex Fitzpatrick spoke with Stein, The Manufacturing Institute president and executive director Carolyn Lee, and Wayne Community College president Patty Pfeiffer at the event. The event was sponsored by GE Aerospace.

What they're saying: "North Carolina really has a secret sauce, in that it has the total package," Stein said. "It has the talent, it always starts with people."

• "We have this incredible quality of life, and part of that is affordability."
• "We're experiencing rising housing prices … but compared to a Boston, compared to a San Francisco, compared to a San Diego, and even in Austin, our big competitors when it comes to biotech, we are often substantially a less expensive place to live."

Zoom in: North Carolina's affordability "starts to snowball" when attracting big biotech companies to the area, Stein said.

• "We've had three major life sciences announcements in Holly Springs. Who would have ever predicted 20 years ago that Holly Springs would be a biotech capital of the world?" Stein asked, noting that Novo Nordisk, Eli Lilly and Fujifilm Biotech have come to the area.

Yes, but: Stein said he is nervous about the effects of federal tariffs, economic uncertainty and the North Carolina General Assembly's fiscal cliff on the ability to invest in North Carolina's education system, infrastructure and other critical government services.

Zoom out: North Carolina's strong educational institutions play a large part in teaching these workers the skills to excel in jobs in industries like biotech and manufacturing, speakers said.

• "When I was growing up, it was you had to go to four-year college – that was the only way," Lee said. "Most people in this country are getting degrees or certifications or skills from their community colleges and their technical schools."

• "We are the workforce engines," Pfeiffer said of the community college system. "I do agree people need four-year degrees, but a lot of business and industries … the majority of what they're hiring are people that come with either short-term trading diplomas or two-year degrees in their fields."

Content from the sponsored segment:

In a View From the Top conversation, GE Aerospace chief human resources officer Christian Meisner said that "you can never turn the talent spigot off" when it comes to bolstering the aerospace workforce through skilling programs.

• "We run about a dozen apprenticeship programs ourselves. … We then tap into other independent apprenticeships, and we do a lot of direct hiring. That's how we've fueled the talent," Meisner said.