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This research brief uses data from the 2014-2015 Internal Revenue Service (IRS) migration file to quantify the dividend North Carolina receives from recent movers to the state. We calculate the dividend as the differences in per capita adjusted gross income from those who moved to North Carolina (in-migrants) relative to those who were already living in the state (non-migrants) and relative to those who moved from the state (out-migrants). The dividends from migrants ages 55 and older, especially those settling in eight migration magnet counties (Mecklenburg, Wake, Durham, Buncombe, New Hanover, Brunswick, Cabarrus, and Johnston), are significant. This migration constitutes a strategic opportunity for both business development and job creation in North Carolina communities.
T.W. Lewis Clinical Professor of Strategy and Entrepreneurship, Faculty Director of the Entrepreneurship Center, UNC Kenan-Flagler Business School
Sarah Graham Kenan Scholar and Assistant Professor of Operations, UNC Kenan-Flagler Business School
Edward Bernstein Distinguished Professor of Economics and Professor of Finance, Faculty Director of Rethinc. Labs