North Carolina on Business Facilities Online

NORTH CAROLINA Fast Facts

• Population (2008): 9,222,414
• Largest Cities (2008): Charlotte, 687,456; Raleigh, 392,552; Greensboro, 250,642; Durham, 223,284;
   Winston-Salem, 217,600
• Targeted Industries: Telecommunications, Biotechnology, Textiles, Financial Services, Chemicals
• Key Incentives: Workforce Development Network, Industrial/Road Access program, Article 3J Tax Credits, One
   North Carolina Fund
• GDP (All Industry 2008): $400 billion*

*Bureau of Economic Analysis, U.S. Department of Commerce

NORTH CAROLINA State Incentives

The William S. Lee Quality Jobs and Expansion Act rewards eligible companies expanding or relocating in North Carolina that hire within the North Carolina workforce. Several types of tax credits are available to qualified companies including credits for job creation, investment, R&D, and worker training.

The Job Development Investment Grant Program provides discretionary grants to new and expanding businesses based on the withholding taxes paid by new employees. To be eligible for one of these performance-based grants, a cost-benefit analysis must show that the benefits to the state outweigh the cost, and the company must certify that without the grant, it would locate outside North Carolina. The Economic Investment Committee, which oversees it, can award up to 25 grants in a calendar year.

The One North Carolina Fund provides financial assistance to companies deemed by the governor to be vital to the state economy. For the company to be eligible for these performance-based grants, North Carolina must be in competition with other locations outside the state.

Explore detailed community demographic information at ZoomProspector.com

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2009 Metro Rankings

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The Carolinas Are Ready for Your Business

ConvaTec to Expand in Greensboro

Aiming for the Cream of the Crop

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North Carolina State Resources

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