POPULATION: 8,856,505

LABOR FORCE: 4,581,689 (July 2007)

RIGHT TO WORK: Yes

TRADITIONAL INDUSTRIES: Agriculture, textiles and apparel, wood products, furniture

EXPANDING INDUSTRIES: Pharmaceutical and biomanufacturing, aerospace, information technology, nanotechnology, banking and finance, defense, R&D, advanced manufacturing, warehousing/distribution, automotive components, plastics, call centers

COLLEGE GRADUATES: (Age 25 and over) 22.5%

BASIC BUSINESS TAXES:
Corporate Income Tax: 6.9 percent of net income apportionable and allowable to the state

Sales and Use Tax: 4.25 percent on most tangible property. Exclusions include food for home consumption, motor vehicles, prescription drugs, and medical supplies. All counties levy a 2.5 percent additional tax (3 percent for Mecklenburg County) for a combined sales tax of 6.75 percent (7.25 percent in Mecklenburg County). Municipalities do not levy additional taxes. Refunds are available for specified capital investments in certain industries.

Property Tax: Local government levies on real and tangible personal property located within their jurisdictions; property assessed at 100 percent of appraised value; real property must be revalued every eight years but is revalued every four years in some jurisdictions.

BUSINESS INCENTIVES:
 One North Carolina Fund
Job Development Investment Grant
Customized Training Programs
R&D Tax Credit
Job Creation Tax Credit
CDBG Program
Investment Tax Credit
Industrial Revenue Bonds
Site Infrastructure Development Grants