Economics Explored

Raleigh’s Rise: America’s #1 Best-Performing City w/ Kyle Touchstone, Raleigh Economic Development

Episode Summary

Kyle Touchstone, Director of Raleigh Economic Development, shares with us how Raleigh became the top-ranked large city in the US, according to the Milken Institute. Kyle and show host Gene Tunny discuss the city's success in biotech, AI, quantum computing, and advanced manufacturing—all underpinned by the world-class universities and innovation ecosystem of North Carolina’s Research Triangle. The conversation also explores Raleigh’s growing role in the gaming industry, including its connection to Epic Games—the creator of Fortnite—and the rise of eSports in the region.

Episode Notes

Kyle Touchstone, Director of Raleigh Economic Development, shares with us how Raleigh became the top-ranked large city in the US, according to the Milken Institute. Kyle and show host Gene Tunny discuss the city's success in biotech, AI, quantum computing, and advanced manufacturing—all underpinned by the world-class universities and innovation ecosystem of North Carolina’s Research Triangle. The conversation also explores Raleigh’s growing role in the gaming industry, including its connection to Epic Games—the creator of Fortnite—and the rise of eSports in the region.

Please email Gene your thoughts on this episode via contact@economicsexplored.com.

Timestamps

• Raleigh's Economic Growth and Milken Institute Ranking (0:00)
• Industry Sectors and Infrastructure in North Carolina (5:17)
• Significant Announcements and Investments (7:23)
• Population Growth and Quality of Life (12:23)
• Entrepreneurial Ecosystem and Community Support (15:08)
• Tax Policy and Economic Development (15:35)
• Quantum Computing and AI (19:49)
• Sports and Entertainment (43:40)
• eSports and Gaming (47:55)
• Lessons in Economic Development (50:39)

Takeaways

1. Top Rankings: Raleigh was named the #1 best-performing large city by the Milken Institute and is part of the #1 state for business (North Carolina, per CNBC).
2. Research Triangle Advantage: Home to NC State, Duke, and UNC Chapel Hill, the Research Triangle fuels innovation with top-tier talent and research.
3. Massive Investment: Biotech firms, such as Biogen, Amgen, and Genentech, have invested billions, drawn by the infrastructure, affordability, and access to research.
4. Quantum & AI Leadership: IBM’s quantum hub and regional AI focus are positioning Raleigh as a leader in next-gen computing.
5. Entrepreneurial Ecosystem: Startups like Pendo and social enterprises like 321 Coffee thrive thanks to a strong support network and educational institutions.

Links relevant to the conversation

Raleigh, NC and Gainesville, GA Top Milken Institute’s 2025 Annual Ranking of Best-Performing Cities:

https://milkeninstitute.org/content-hub/news-releases/raleigh-nc-and-gainesville-ga-top-milken-institutes-2025-annual-ranking-best-performing-cities

Raleigh Economic Development:

https://www.raleighecondev.org/

Zoom catch up with show host Gene Tunny

Join Gene and other listeners for a catch-up on Zoom on Thursday, 31 July at: 

• 21.30 to 22.30 AEST/GMT+10 (Australian East Coast time)
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The link to the Zoom room is:

https://us02web.zoom.us/j/9471595560

RSVP by 20.00 GMT+10 on 31 July to contact@economicsexplored.com

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