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With tech assets in the Research Triangle and the growing life sciences sector, the Tar Heel State has been on a roll in the past year. Thermo Fisher Scientific announced in December 2020 a $500 million investment and 500 new jobs in Greenville. Fintech company Robinhood added in March nearly 400 new jobs in Mecklenburg County. And in April 2021, Apple announced a $1 billion R&D campus in Wake County that will create 3,000 jobs by 2032. According to a recent survey and a white paper by the Tax Foundation and KPMC, the state now has one of the most competitive tax structures for business in the U.S.
Job Development Investment Grant: A perfor- mance-based, discretionary incentive program that offers cash grants to new and expanding companies based on a percentage of personal income tax with- holdings associated with new jobs created.
One North Carolina Fund: A discretionary cash grant program that enables the governor to quickly respond to job-creating competitive projects considering loca- tions outside of North Carolina.
JDIG for High-Yield Projects: Offers a JDIG grant worth up to 90% of personal income withholdings for up to 20 years for a company that creates 1,750 jobs and invests at least $500 million in a project.
JDIG for a Transformative Project: Offers up to 90% of personal income withholdings for up to 30 years for a company that creates 3,000 jobs at invests at least $1 billion.
The Economic Development Partnership of North Carolina’s Small Business Advisor program offers free one- on-one guidance to entrepreneurs and startups on the licensing and permitting requirements in the state. They can also refer to programs that help with mentoring, grants, alternative lending and other resources.
13 Fortune 500 companies are headquartered in the state, including: