Companies in Raleigh: 39,252 businesses, the Chamber's 41 big employers and a bank at the top

Raleigh's companies are smaller than its reputation: the average workplace has 15.7 employees, and its biggest public headquarters is a bank, First Citizens, not a tech firm. Much of the famous Research Triangle employment sits in Durham County, outside the Raleigh-Cary metro the Census Bureau counts.

Market report6 min readPublished

The Raleigh-Cary metro had 39,252 business establishments with paid employees in 2023, employing 617,511 people, according to the Census Bureau; Wake County had 33,873. The largest public companies headquartered there, by revenue in their latest 10-Ks, are First Citizens BancShares ($9.54 billion in net revenue), Advance Auto Parts ($8.60 billion) and Martin Marietta Materials ($6.15 billion). The Greater Raleigh Chamber's major employers list for Wake County and Research Triangle Park is led by Duke University and Duke Health (41,206).

  • 39,252 establishments in the metro in 2023; Wake County has 86.3% of them and 90.1% of the jobs.
  • The average Raleigh workplace has 15.7 employees, fewer than in Nashville (19.9) or Columbus (21.2).
  • First Citizens' $9.54 billion of net revenue tops a public company list worth $36.81 billion in all.
  • The Chamber's 41 employers with 2,000 or more staff include four government employers and three public universities and colleges.
  • Software publishers number 169 but pay an average of $184,171, the most of any industry in our Raleigh table.
On this page

This page is for anyone trying to get a picture of the companies in Raleigh: people moving here for work, people choosing a contractor or partner, and B2B sellers deciding whether Raleigh, Cary and the rest of Wake County justify their own territory. It covers the largest employers, the public companies headquartered here, the business counts and sectors, and how to check a North Carolina company.

Raleigh's largest employers

The Greater Raleigh Chamber of Commerce publishes a list of public and private employers in Wake County and Research Triangle Park with 2,000 or more employees. The page gives no as-of date (it is marked 2025) and doesn't name its source. The top 20:

EmployerEmployees
Duke University and Duke Health41,206
State of North Carolina24,083
Wake County Public School System17,000
Walmart16,200
University of North Carolina at Chapel Hill12,204
WakeMed Health and Hospitals9,773
North Carolina State University9,019
Food Lion8,600
Target8,000
IBM8,000
UNC Rex Healthcare6,900
SAS Institute5,567
Harris Teeter5,346
Cisco Systems5,000
IQVIA4,570
Wake County Government4,389
Blue Cross and Blue Shield of North Carolina4,200
City of Raleigh3,974
Sensus (a Xylem brand)3,691
Pfizer3,610

The list runs to 41 employers, ending with Fidelity Investments, Lenovo, Duke Energy, Red Hat, First Citizens BancShares (2,400) and others at 2,000 to 3,600. Read it with its scope in mind: it includes Research Triangle Park, which is mostly in Durham County, and Duke and UNC Chapel Hill, which are based in Durham and Orange counties outside the Raleigh-Cary metro, so their counts are not all Raleigh jobs. For employers within Wake County itself, WakeMed (9,773), NC State (9,019) and UNC Rex (6,900) are the largest health care and education employers, and SAS Institute in Cary the largest private company on the list headquartered in the county.

Public companies headquartered in Raleigh

Ranked by revenue in each company's latest 10-K, among SEC-registered listed companies whose 10-K cover gives a principal executive office in the metro:

RankCompanyHeadquartersRevenueFiscal year ended
1First Citizens BancSharesRaleigh$9.54 billionDec 2025
2Advance Auto PartsRaleigh$8.60 billionJan 2026
3Martin Marietta MaterialsRaleigh$6.15 billionDec 2025
4VontierRaleigh$3.08 billionDec 2025
5Pyxus InternationalMorrisville$2.41 billionMar 2026
6RalliantRaleigh$2.07 billionDec 2025
7Extreme NetworksMorrisville$1.28 billionJun 2026
8Enact HoldingsRaleigh$1.24 billionDec 2025
9Highwoods PropertiesRaleigh$806.1 millionDec 2025
10BandwidthRaleigh$753.8 millionDec 2025
11Cardinal Infrastructure GroupRaleigh$456.0 millionDec 2025
12Fathom HoldingsCary$420.5 millionDec 2025

The 12 reported $36.81 billion. First Citizens' figure is net interest income plus noninterest income ($6.81 billion plus $2.73 billion), not its $11.78 billion of interest income. Pyxus, the leaf tobacco merchant, trades over the counter. flyExclusive shows a Raleigh address in the SEC's company records, but its 10-K cover gives Kinston, North Carolina, so it's left out. Big Wake County employers such as SAS Institute are private, and Lenovo and Red Hat belong to parent companies based outside the metro.

How many businesses are in Raleigh

County Business Patterns (CBP) for the Raleigh-Cary, NC Metro Area (CBSA 39580), all sectors, 2023:

MeasureRaleigh-Cary metro, 2023
Establishments39,252
Employees617,511
Annual payroll$42,588,997,000
Average employees per establishment15.7
Average annual pay$68,969
Share of US establishments0.47% (of 8,361,342)
CountyEstablishmentsEmployees
Wake33,873556,250
Johnston4,15149,067
Franklin1,22812,194
Employees at the establishmentEstablishments
1 to 422,016
5 to 96,289
10 to 194,849
20 to 493,852
50 to 991,330
100 to 249651
250 to 499183
500 to 99948
1,000 or more34

That's 33,154 establishments with 1 to 19 employees, 5,182 with 20 to 99 and 916 with 100 or more. CBP counts locations with paid employees rather than companies, excludes the self-employed and government (so NC State, the State of North Carolina and the schools aren't in these counts), and measures employment in the pay period including March 12, 2023.

What Raleigh businesses do

Sector or industry (NAICS)EstablishmentsEmployeesAverage pay
Professional, scientific and technical services (54)6,34574,424$107,098
Construction (23)4,42444,159$74,090
Retail trade (44 to 45)4,34575,594$36,498
Health care and social assistance (62)4,18483,997$63,912
Accommodation and food services (72)3,29969,490$23,910
Finance and insurance (52)2,12528,794$110,058
Residential building construction (2361)1,2496,830$85,364
Computer systems design (5415)1,27815,264$121,684
Software publishers (5112)16912,813$184,171
Scientific research and development (5417)26013,012$130,749

Average pay is our calculation. Construction has the second-most establishments of any sector: 1,249 residential builders and 2,727 specialty trade contractors. The tech and life sciences jobs are real but concentrated in fewer, bigger sites: 169 software publishers employ 12,813 people. For the builders, see construction companies in Raleigh; for the tech firms, tech companies in Raleigh.

How to check a Raleigh company

SourceWhat it tells you
North Carolina Secretary of State business registration searchWhether a corporation or LLC is registered and current, its registered agent and annual reports; its site screens automated visitors, so search it in a browser
Greater Raleigh Chamber major employersThe list above, with a link to the fuller directory of employers with more than 250 staff
Wake County Economic DevelopmentCounty business data, sites and the major employers directory
Raleigh Economic DevelopmentThe city's business support and expansion news
NC Commerce largest employers toolThe state's own largest-employer listings by county and quarter

For a contractor, also check its license with the North Carolina Licensing Board for General Contractors before you sign.

Prospecting Wake County's homebuilders

Illustrative example. The company, prices and results are fictional; the counts are from CBP 2023.

Neuse Framing Supply (neuseframing.example) delivers pre-cut framing packages to homebuilders.

  • Residential building construction establishments (NAICS 2361) with 10 to 99 employees: 74 + 36 + 18 = 128.
  • It assumes half build more than 20 homes a year: about 64.
  • Winning 8 at an average of $120,000 a year in orders is $960,000.

The buyer is the owner or the head of purchasing, and the opening is a new subdivision or a framing crew shortage that pushes schedules back. Working out which of the 128 are starting new communities this year, and who buys their lumber, is the research Bebop does for each builder.

Email to a Wake County homebuilder
Subject: Framing schedule for [community]

Hi [first name],

When framing crews are short, the builders who stay on schedule are usually the ones whose lumber shows up cut, labeled and in order.

We deliver pre-cut framing packages to Triangle builders, sequenced by lot, so a crew can stand a house in fewer days. Could I price your next plan set against what you paid on the last one?

[Your name], Neuse Framing Supply

Next step: see the state as a whole in companies in North Carolina.

Sources

Written by the Bebop team at Blackpearl Group. Published .

Questions people ask

How many businesses are in Raleigh?

The Census Bureau counted 39,252 business establishments with paid employees in the Raleigh-Cary metro in 2023, employing 617,511 people. Wake County had 33,873 of them, Johnston County 4,151 and Franklin County 1,228. The count covers locations with a payroll, so it excludes the self-employed and government. Durham and Chapel Hill are in a separate metro.

Who are the largest employers in Raleigh?

On the Greater Raleigh Chamber's list for Wake County and Research Triangle Park, the largest are Duke University and Duke Health (41,206), the State of North Carolina (24,083), the Wake County Public School System (17,000) and Walmart (16,200). Within Wake County, WakeMed (9,773), NC State (9,019) and SAS Institute (5,567) are among the largest. The list is undated and doesn't name its source.

What are the biggest companies headquartered in Raleigh?

By revenue in their latest 10-K filings, First Citizens BancShares is the largest ($9.54 billion in net revenue for 2025), followed by Advance Auto Parts ($8.60 billion), Martin Marietta Materials ($6.15 billion), Vontier ($3.08 billion) and Pyxus International of Morrisville ($2.41 billion). SAS Institute, based in Cary and one of the Chamber's largest employers, is private and doesn't file 10-Ks.

Is Research Triangle Park in Raleigh?

Not in the Census Bureau's definition. Research Triangle Park lies mostly in Durham County, which belongs to the Durham-Chapel Hill metro, while the Raleigh-Cary metro is Wake, Johnston and Franklin counties. The Greater Raleigh Chamber's employer list includes the park, so it counts companies such as IQVIA and Cisco whose large sites may sit outside Wake County.

How do I look up a business in North Carolina?

Use the North Carolina Secretary of State's business registration search to see whether a corporation or LLC is registered and current with its annual reports, and who its registered agent is. For contractors, check the North Carolina Licensing Board for General Contractors. Public companies' 10-Ks, with headquarters addresses on the cover, are on SEC EDGAR.

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