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North Carolina Resources Page
Inward Investment Guides

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

Top States for Doing Business 2014: Georgia Unseats Texas, Industrial Midwest Rises

Dale D. Buss, Staff Editor,  (Q3 2014)
The list continues to be dominated by states in the South and mid-South as states from the industrial Midwest scratch their way back into position as major players in U.S. economic-development. More

Intermodal Boom Will Revolutionize Supply Chain Logistics and Industrial Real Estate Strategy

Richard H. Thompson, Managing Director and Americas Leader, Supply Chain & Logistics Solutions, Jones Lang Lasalle (Q3 2014)
A looming capacity shortage in the trucking industry — coupled with rail’s high efficiency — is causing logistics suppliers and transportation providers to turn their focus to intermodal solutions. More

Electronics, Photonics, and Digital Media Sectors: Key to Future U.S. Competitiveness

Mark Crawford (Q3 2014)
These interconnected industries will be drivers in stimulating economic growth, creating jobs, and improving global competitiveness. Collaboration among private-sector companies, universities, and government on research and commercialization will be vital. More

Leading Locations for 2014: The MSAs with Strongest Prime Work Force Growth

Dale D. Buss, Staff Editor,  (Q2 2014)
A yawning gap has developed between millions of potentially available workers and the increasingly sophisticated skills they would require to qualify for today’s generally tech-oriented jobs. More

How Companies Can Get the Utility Packages They Need

Cory Wendt, Senior Manager, Baker Tilly Virchow Krause, LLP (Q2 2014)
Energy availability is a vital factor in any site selection process. Making an energy decision is more than just cost per kilowatt-hour — a well-designed utility plan should also take into account grid capacity, rate structure, service/distribution, and related utilities, such as wastewater treatment. More

North Carolina Direct Financial Incentives 2014

Area Development Online Research Desk (Q1 2014)
North Carolina's economic development, finance and tax organizations provide a range of incentive programs to initiate new business and commercial investment. More

NORTH CAROLINA at a glance

POPULATION: 9,669,244 (July 2011)

LABOR FORCE: 4,708,952 (October 2012 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) 26.5%

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: 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: Alexander, Buncombe, Cabarrus, Catawba, Cumberland, Duplin, Durham, Halifax, Haywood, Hertford, Lee, Martin, Montgomery, New Hanover, Onslow, Orange, Pitt, Randolph, Robeson, Rowan, Sampson, Surry and Wilkes

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

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

Principal Manufacturing industries

  • Food Beverage & Tobacco Products
    14.3%
  • Textiles & Apparel
    10.8%
  • Chemicals
    9.6%
  • Computer & Electronic Products
    7.7%
  • Fabricated Metal Products
    7.6%
  • Furniture & Related Products
    7.6%
  • Rubber & Plastic Products
    6.7%
  • Machinery
    6.6%
  • Transportation Equipment
    6.1%
  • Electrical Equipment & Appliances
    4.9%
  • Wood Products
    3.5%
  • Other Manufacturing Industries
    14.6%