It’s Business, And It’s Personal

North Carolina companies may refocus on military contracts

On Behalf of | Mar 20, 2020 | Corporate Contract Law |

If you’re in North Carolina, there’s a higher chance than most states that you have some experience with the military. A large proportion of Tar Heels end up serving in the Army, Navy or Air Force. Camp Lejeune and other military installations in the state also bring a lot of civilians jobs that serve and interact with military personnel.

One would think that translates to a large proportion of corporate contracts with the U.S. Department of Defense. However, North Carolina companies won around $3.3 billion in defense contracts in 2017, far less than many states that have up to 8% of their annual revenue in defense.

“We have a dichotomy in this state despite some very fine efforts from a lot of partners,” said an observer of North Carolina’s defense contracts. “We have a gap between our military presence and where we rank nationally in doing business with the military.”

At the same time, North Carolina is home to many key industries that provide a large amount of intelligence and materiel to military units. These include manufacturing, biotechnology, energy innovation and data management. Companies in Raleigh, Charlotte, Durham and elsewhere in the state may want to emphasize the pursuit of military contracts as part of their strategy for growth.

An attorney can help review any proposal for a new corporate contract or dispute over an existing contract. Legal representation is always a plus for companies that are expanding their business, and a lawyer is often the best call to make when corporate officers have questions regarding contractual obligations or privileges.