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
