Matt Wood, Partner & Triad–Triangle–Greenville NC Market Leader, Forvis Mazars

Invest: sat down with Matt Wood, partner and Triad–Triangle–Greenville NC market leader at Forvis Mazars, to discuss growth in North Carolina, how the firm’s sector-focused model and global network support mid-market clients, and what makes the region an attractive destination for all. “There’s really no better place to live, work and play than the state of North Carolina, and in the Triangle specifically,” said Wood.

How does Forvis Mazars tailor its audit, tax and advisory services to the specific needs of businesses in the region?

The beauty of our firm is that we are a sector-based organization. Our professionals devote their careers to building deep expertise in specific industries, rather than trying to be generalists. Some examples include manufacturing, infrastructure, logistics and healthcare. That means when we walk into a client’s business, we already speak their language. We operate under our Unmatched Client Experience model. Part of this is understanding our client’s operating models and regulatory environments, so we can design assurance, tax and consulting engagements that are highly tailored and focused on delivering value beyond the basic services they expect.

Which industries do you see as representing the largest opportunities for growth?

It’s hard to pick favorites in a market as diverse as the Triangle, but a few sectors clearly stand out. Construction and infrastructure are extremely active, with our clients seeing a strong pipeline of new contracts and projects as the region continues to grow. Traditional manufacturing is also benefiting from the broader “made-in-America” movement, and North Carolina is part of that story. An aging population continues to drive demand and change in healthcare, creating a need for providers and related businesses to invest, innovate, and scale.

How are you helping companies navigate growing complexity in accounting, tax and regulation?

The current business environment is incredibly dynamic. We recently saw major federal tax legislation passed, and many companies are still working to understand what it means in practice. Forvis Mazras’ role is to help them digest those changes, identify the provisions that are most relevant to their business, and then figure out how to put those provisions to work. We want clients to be able to capture available tax benefits without inadvertently creating new exposures or limiting their future flexibility. Ultimately, it’s about translating complexity into practical planning and helping redeploy any savings into areas that support long-term growth.

Within construction and real estate specifically, what types of services are most in demand?

In construction and real estate, there continues to be a heavy focus on tax planning and regulatory compliance. One example is Section 163(j), which limits the deductibility of interest expense. Many companies in these sectors rely on significant debt financing, so planning around those limitations is critical. Beyond tax, there is a strong consultative component. Clients are asking for help with everything from software implementation to how they can thoughtfully leverage AI. Our local team spends a great deal of time on digital transformation so that firms can improve efficiency without losing control over risk or the quality of their financial information.

More broadly, how is Forvis Mazars supporting clients on digital transformation and the rise of AI?

Forvis Mazars views AI as a tool. No one fully knows its long-term potential, so our posture is to be cautiously optimistic and disciplined. We are testing and deploying AI in areas where it can meaningfully speed up routine tasks, but in our profession, quality has to come first. That means we still validate outputs and track accuracy carefully. If we can use technology to handle more of the repetitive work, we can free our best people to spend more time on higher-value activities.

What differentiates Forvis Mazars for small and mid-sized enterprises in your region?

Small and mid-sized businesses are really the backbone of the U.S. economy, and they are central to our strategy. Many of these companies do not have large in-house finance or tax teams, which makes the relationship with their external advisors even more important. At Forvis Mazars, we put seasoned professionals with 20-plus years of experience in front of those owners and management teams. We are not just delivering a report; we are acting as a consultative partner who can help them think through strategy, capital allocation, and risk. That middle-market focus, combined with our depth of expertise, is a key differentiator.

How are you leveraging the firm’s global footprint to support North Carolina businesses that operate across the U.S. and internationally?

In 2024, we formally established our global network, and today we are present in roughly 130 countries. That was a significant milestone because it gave us a coordinated way to bring local resources to bear in numerous jurisdictions around the world. When a North Carolina company is evaluating an international expansion, a supply chain shift, or a change in its production footprint, Forvis Mazars can bring in professionals on the ground who understand the specific tax, regulatory, and business environments in those countries. For our clients, that combination of strong U.S. capabilities and true global reach has been a game-changer.

What are some of the unique challenges and advantages you see in the Triangle market?

Like many innovation hubs, the Triangle is closely tied to the technology sector, so there are moments when you see swings in hiring, investment, and talent needs as technology evolves and tools like AI mature. The difference here is the level of economic diversity. The region has strength across technology, life sciences, advanced manufacturing, healthcare, financial services, and more. When one area slows, another often accelerates. That balance makes the Raleigh-Durham area one of the strongest economic environments you can have.

How are you working with growth-oriented businesses on long-term planning, transactions, and ownership transitions?

We are seeing a significant amount of activity around ownership and capital structure. That ranges from generational transitions, moving from first to second or third generation leadership, to the growing role of private equity dollars in the market. These are deeply personal decisions for owners who have invested their lives in building a company. Our Capital Advisors team works alongside them as a thought partner to explore options, whether that is a management buyout, a family transition, or a sale to an outside investor. We approach those conversations with care because the right answer is not just a financial one. It is about legacy, culture, and the future of the business.

Looking ahead two to three years, where do you see the greatest opportunities for Forvis Mazars in the Triangle?

It is an exciting time to be part of Forvis Mazars. We recently surpassed $2 billion in revenue and added more than a thousand people over the last year, which reflects the demand we are seeing in the market. We also remain intentional about our local commitment. We have one of the largest footprints in Raleigh-Durham, and we cultivate a people-oriented culture where our teams are encouraged to be present with clients, on-site, listening and collaborating. Technology can create many efficiencies, but there is no substitute for face-to-face interaction when it comes to understanding a business and building trust. Our opportunity is to keep combining that local presence and culture with the broader resources of a global firm.

What does the Triangle mean to you personally, and how does that shape your perspective on the market?

The Triangle is home for me. I grew up in Cary, spent my first 18 years here, and have lived in North Carolina my entire life. From my perspective, there’s really no better place to live, work, and play than the state of North Carolina, and in the Triangle specifically. That personal connection reinforces our determination to bring the best and brightest people into our offices here and to serve clients in a way that reflects the community’s values.

Public accounting is an industry where no two days are the same. Plans change quickly based on client needs, and our firm’s culture is that we are here to help. When you combine that mindset with a region like Raleigh-Durham that shares those ideals, it makes for a special place to build a career and a business.