POPULATION: 9,382,609 (July 2009)
LABOR FORCE: 4,474,404 (October 2010)
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
COLLEGE GRADUATES: (Age 25 and over) 25.6%
BASIC BUSINESS TAXES:
Corporate Income Tax: 6.9 percent of net
income apportionable and allowable to the state
Sales and Use Tax:
• Combined general rate: 7.75 percent
• State sales tax rate: 5.75 percent
• Local sales tax: 2.0 percent
Alexander, Catawba, Cumberland, Haywood,
Hertford, Lee, Martin, Pitt, Randolph, Rowan,
Sampson, and Surry counties assess an
additional 0.25 percent for a total rate of 8.0
percent. Mecklenburg County has a rate of 8.25
percent due to an additional 0.5 percent public
transit tax. (Robeson County will assess an
additional 0.25 percent for total rate of 8.0
percent, effective January 1, 2011.)
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
Job Development Investment
Grant Program
One North Carolina Fund Small
Business Fund
One NC Small Business Fund
Job Creation Tax Credit
Investment Tax Credit
R&D Tax Credit
Customized training programs
N.C. Green Business Fund
Interactive Digital Media Tax
Credit
CDBG Program
Industrial revenue bonds
Sales tax refunds and exemptions
Energy tax credits
