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.
Job Development Investment Grant Program
One North Carolina Fund
One NC Small Business Fund
R&D Tax Credit
Customized training programs
Industrial revenue bonds
Sales tax refunds and exemptions
Renewable Energy Property Credit
Source: D-4, QCEW 2013 Average Mfg. Employment