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Inward Investment Guides

Location Notebook: TVA Hitching Its Wagon to the Auto Industry

Cynthia Kincaid , Kincaid Strategic Partners (Q3 2015)
TVA is driving to make automotive manufacturing the cornerstone of the region. More

First Person: Renaissance or Cyclical Recovery? Strategy for Sustained U.S. Manufacturing Competitiveness Needed

Adams Nager, Economic Research Assistant, Information Technology and Innovation Foundation (Q1 2015)
Adams Nager, an economic research assistant at the Information Technology and Innovation Foundation, recently talked with Area Development about the state of manufacturing in the U.S. In his career, Nager has focused on macroeconomic growth, competitiveness, and tax theory. More

Shale Oil & Gas Development Changing the Way the Nation Does Business

Charlotte Batson, Owner and Principal, Batson & Company (Q1 2015)
The development of oil and gas resources is driving infrastructure and manufacturing location decisions, while boosting U.S. competitiveness. More

10 Inland Ports to Watch

Tim Feemster, Managing Principal, Foremost Quality Logistics (Intermodal Sites)
Inland ports are poised to play an increasingly vital role and could be a large part of the answer to both the fuel and congestion concerns in the domestic supply chain. More

Regional Report: Economy Sizzling in the South Atlantic States

Steve Stackhouse-Kaelble (Directory 2015)
With numerous new and expanded facilities being announced in 2013 and 2014, the South Atlantic region’s string of success stories is continuing. More

Front Line: Preparing for Takeoff in the Drone Industry

Craig Guillot (Q4 2014)
As drones become smaller, more affordable, and easier to operate, they’re being eyed for use in everything from agriculture to construction and real estate. The Federal Aviation Administration (FAA) says there could be 30,000 of them in American skies by 2020, and according to the Association for Unmanned Vehicle Systems International (AUVSI), the business of manufacturing and flying drones could become an $82 billion industry within 10 years. More

Critical Site Selection Factor #9: Low Union Profile - Unions Still a “No-Go” Factor for Many

Dale D. Buss, Staff Editor,  (Q4 2014)
Having a low union profile ranked as slightly more important in Area Development’s latest Corporate Survey, up one position to #9. But in a similarly incremental sense, U.S. unions overall actually may have gained some ground over the last year. More

Revolutionary Advances in Life Sciences amid Industry Disruption and Uncertainty

Mark Crawford (Q4 2014)
Major economic, social, and regulatory factors are having big impacts on the life sciences and medical device industries, representing an opportunity for innovative companies to become new leaders and gain market share. More

NORTH CAROLINA at a glance

POPULATION: 9,861,952 (July 2013)

LABOR FORCE: 4,645,687 (September 2014 seasonally adjusted)

RIGHT TO WORK: Yes

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

EXPANDING INDUSTRIES: Alternative energy, green technology, defense, aerospace, pharmaceutical and biomanufacturing, nanotechnology, R&D, information technology, advanced manufacturing, banking and finance, automotive components, plastics, call centers, data centers

COLLEGE GRADUATES: (Age 25 and over) 26.8% (2008–2012)

BASIC BUSINESS TAXES:
Corporate Income Tax: 6 percent in 2014; rate will drop to 5% in 2015.

Sales and Use Tax: Combined general rate: 6.75 percent (state sales tax rate: 4.75 percent; local sales tax: 2.0 percent); additional counties with 0.25 percent local sales tax for a total of 7 percent: Alexander, Buncombe, Cabarrus, Catawba, Cumberland, Duplin, Durham*, Edgecombe, Greene, Halifax, Haywood, Hertford, Lee, Martin, Montgomery, New Hanover, Onslow, Orange*, Pitt, Randolph, Robeson, Rowan, Sampson, Surry and Wilkes. Mecklenburg County has a rate of 7.25 percent due to an additional 0.5 percent transit tax. Durham and Orange counties levy an additional .50% public transit tax, which makes the counties total sales and use tax rate 7.50 percent.

Property Tax: Real and personal property is assessed on a local level at 100 percent of appraised value. The state of North Carolina does not charge real and personal property tax on a state level. Real property is required to be revalued every eight years, although counties may revalue earlier.

BUSINESS INCENTIVES:

Job Development Investment Grant Program

One North Carolina Fund

One NC Small Business Fund

R&D Tax Credit

Customized training programs

CDBG Program

Industrial revenue bonds

Sales tax refunds and exemptions

Renewable Energy Property Credit

Principal Manufacturing industries

  • Food Beverage & Tobacco Products
    14.1%
  • Textiles & Apparel
    9.6%
  • Chemicals
    9.6%
  • Fabricated Metal Products
    8.1%
  • Computer & Electronic Products
    7.5%
  • Furniture & Related Products
    7.5%
  • Rubber & Plastic Products
    7.0%
  • Machinery
    7.0%
  • Transportation Equipment
    6.7%
  • Electrical Equipment & Appliances
    4.8%
  • Wood Products
    3.7%
  • Other Manufacturing Industries
    14.4%
Source: D-4, QCEW 2013 Average Mfg. Employment