CHAPEL HILL, NC (July 7, 2026) — The North Carolina General Assembly has allocated $3 million to support the North Carolina Economic Forecasting Initiative (NCEFI). These funds, appropriated from the 2026-27 state budget, will establish the state’s central clearinghouse of economic forecasting within the Kenan Institute of Private Enterprise at the University of North Carolina Kenan-Flagler Business School.
The initiative will provide both real-time assessments of current economic conditions (nowcasts) and forward-looking forecasts to North Carolina policymakers, businesses, community colleges, economic developers and other stakeholders. By combining timely measures of where local economies stand today with projections of where they are headed, the initiative supports more actionable decision-making tailored to conditions across North Carolina’s local economies.
Through the Kenan Institute, Carolina plans to use pioneering economic modeling to define workforce needs and put research directly in the hands of local leaders. Carolina’s reach is statewide, just like our economy, and we look forward to supporting this work in the years to come.
UNC-Chapel Hill Chancellor Lee H. Roberts
The North Carolina Economic Forecasting Initiative will share timely analysis and forecasting that includes forecasts of gross domestic product and employment at the state and county level.
Kenan Institute economists also will introduce two new forecasts: housing affordability and the skills most demanded by employers. The team will work to aggregate state agency data and translate the data into actionable insights for business leaders and policymakers across the state.
“Leaders need reliable data to make informed decisions that create value for others,” said UNC Kenan-Flagler Dean Mary Margaret Frank. “This important initiative builds on the Kenan Institute’s impact across North Carolina for over 40 years as it fulfills its mission to promote collaboration among business, government and academia. The Kenan Institute’s efforts are an ideal complement to UNC Kenan-Flagler’s commitment to develop leaders who make their communities a better place.”
The North Carolina Economic Forecasting Initiative builds upon the strengths of the economic research, forecasting and community engagement that connect the Kenan Institute to North Carolina communities.
“Local stakeholders need timely data specific to their communities, and too often they don’t have access to it,” said Kenan Institute Executive Director Paige Ouimet. “By creating a clearer understanding of how their communities are changing, we can help these decision-makers to support and grow their communities.” She added, “The Kenan Institute is building tools that serve all 100 counties in the state.”
The Kenan Institute will connect forecasting analysis and tools to small-business networks, community development experts and technical assistance providers across the state. Additionally, it will establish an advisory board using experts across the University of North Carolina System to guide the initiative’s forecasting work. The goal is to address unmet data needs, particularly at the county level, and complement existing forecasting initiatives.
Media contact: Rob Knapp, Kenan Institute Assistant Director of External Affairs, email.
