North Carolina is the 3rd Best State for Business 2012

No 3: North Carolina

No. 3

North Carolina

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by

Key Metrics
State GDP 

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


  • 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.”

Bureau of Economic Analysis
Bureau of Labor Statistics
The Tax Foundation

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