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North Carolina Resources Page
Inward Investment Guides

Public Power Communities: Technology for Business Success

Steve Stackhouse-Kaelble (Q1 2016)
From powering up huge data centers to providing telecom and water services, and helping customers become energy-efficient through the latest technologies, public power companies re-invest in the communities they serve. More

Location Notebook: Pitt County, NC Provides “Healthful” Business Environment

Cynthia Kincaid , Kincaid Strategic Partners (Q1 2016)
Pitt County is building on its success in the life sciences sector and its quality-of-life advantages. More

U.S. Legislative, Incentives, & Economic Development Policies Update

Jason Hickey, President, Hickey & Associates, LLC (Q1 2016)
Growing companies need to be aware of the many changes states are making to their incentives policies. More

Regional Report: Diverse Industries Reflect Economic Gains in the South-Atlantic

Mark Crawford (Directory 2016)
A region that gets its pro-business message across, the South Atlantic’s growth in manufacturing, Information technology, and life sciences has moved beyond big cities to its smaller metro areas as well. More

Georgia Once Again Leads the 2015 Top States for Doing Business

Mark Crawford (Q3 2015)
An attractive business environment, quality labor pool, and well developed infrastructure are among the shared advantages of those states ranked by the location consultants as the top choices for business. More

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

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