North Carolina is the 3rd Best State for Business 2012

No. 3 North Carolina Taxation and Regulations Workforce Quality Living Environment Based on CEO Survey by ChiefExecutive.net Key Metrics State [...]

May 2 2012 by ChiefExecutive.net


No 3: North Carolina

No. 3

North Carolina

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 

  • % Growth ’07-’10: 0.12
  • % Growth ’07-’10 v. Nat’l Avg. (-0.33%): 0.46

Unemployment

  • Unemployment Rate Dec. 2011 %: 9.90
  • Comparison with Nat’l Rate (8.50%): 1.40

Domestic Migration

  • Domestic Net Migration ’00-’09: 663,892
  • Rank: 4

State Government

  • Debt per Capita Fiscal Year ’10 ($): 1,983
  • State & Local Gov’t Employees per 10k Residents: 599.65

State-Local Tax Burden

  • Rate (%): 9.78
  • Compared to Nat’l Avg. (9.8%): -0.02
Key Companies
  • Bank of America Corporation
  • Lowe’s Companies Inc.
  • Duke Energy Corporation
  • Niuco, Progress Energy
  • Reynolds American
  • VF Corp.
  • Goodrich
Development Trend Indicator: Negative
Stalled recently on issues including tort reform, school funding and taxes.
CEO Comments
“North Carolina appears to have a good balance between taxes/regulation and work environment/resources.”

“Texas and North Carolina are easy to work with but NC taxes are beginning to cause us to look elsewhere.”

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation