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27 <br /> The other policy is energy exploration. The Trump Administration is expected to push <br /> for an easing of regulations on accessing energy deposits in the nation, both on-shore and off- <br /> shore. It is estimated the largest quantity of undersea oil deposits on the eastern seaboard are off <br /> the coast of North Carolina. If these deposits were accessed and produced, I calculate the <br /> annual economic activity could generate $1.9 billion of income and 17,000 permanent jobs.2 <br /> Balanced against these potential benefits would have to be a consideration of potential costs to <br /> the environment and existing coastal industries (mainly tourism and fishing). <br /> Like other states, North Carolina will be affected by the expected debate about new <br /> international trade policies in 2017. In 2015, 16% of the North Carolina economy was directly <br /> related to international trade ($81 billion of export and import activity combined from a total <br /> economy of$495 billion). If a"trade war" occurred that significantly reduced the state's <br /> exports, then the state's leading export sectors—including advanced manufacturing, agriculture, <br /> auto parts, and technology- could be adversely affected. <br /> Once again, large and medium-sized metro areas in North Carolina will have the lowest <br /> unemployment rates at the end of 2017 (Table 3). However, with the labor market expected to <br /> further tighten in 2017 and with an economic stimulus likely from the federal level, all regions <br /> should see improvement in the labor market, and the state should see 100,000 net new jobs <br /> generated. <br /> 2 Michael L.Walden, The Economic Potential from Developing North Carolina's On-Shore and Off-shore Energy <br /> Resources, Dept. of Agricultural and Resource Economics, North Carolina State University,April 2013. The report <br /> also shows the economic impacts of on-shore energy development in the state would be minor. In late December <br /> 2016, President Obama permanently banned energy exploration in large parts of the Atlantic coast; however the <br /> ban does not include ocean areas off the coast of North Carolina. <br /> 12 <br />