#3 North Carolina


#15 in Taxation and Regulation

#10 in Workforce Quality

#3 in Living Environment

Right to Work?

Regional Profile – Southeast

STATE
OVERALL REGIONAL RANK
TAXATION & REGULATION REGIONAL RANK
WORKFORCE QUALITY REGIONAL RANK
LIVING ENVIRONMENT REGIONAL RANK
Alabama
7
6
7
8
Florida
1
2
6
5
Georgia
5
4
2
3
Kentucky
8
7
8
7
Louisiana
10
9
9
9
Mississippi
11
10
10
11
North Carolina
2
5
3
1
South Carolina
4
3
5
2
Tennessee
3
1
1
4
Virginia
6
8
4
6
West Virginia
9
11
11
10

Key Industries

Film, Nanotechnology, Sciences

Key Companies

Credit Suisse

Deutsche Bank

Duke Energy

Fidelity

Goldman Sachs

Goodrich

Jeld-Wen

Lowe’s

Reynolds America

Advantages

North Carolina cut its corporate income tax from 5% to 4% as a long-term tax reform package. The state now has the lowest rate of any state levying a corporate income tax.

Challenges

NC businesses took a huge financial hit over the new ‘bathroom bill’. Now the government, and businesses, are trying to woo their customers back.

Key Contacts

Department of Commerce

Cecilia Holden, Chief of Staff
919-733-8418
301 North Wilmington Street
Raleigh, NC 27601-1058

Cecilia.holden@nccommerce.com
http://www.nccommerce.com/

CEO Comments

“North Carolina has a strong technical and university support for industry. It also has great quality of life aspects for work and home life.”

“North Carolina needs to get the incentives determined. DOT on the state level is not responsive.”

“North Carolina has perhaps the most liberal debtor protections in the entire country.  New Mexico has too many unique.”

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No 2: North Carolina

No. 2

North Carolina

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
Taxation and Regulations
  • State Corporate Income Tax Rate: 6.90%
  • Highest Personal Income Tax Rate: 7.75%
Workforce Quality
  • % with High School diploma or more: 83.6
  • % with Bachelor’s degree or more: 26.1
  • % with Advanced degree or more: 8.6
  • Patents per 100K: 28.1
  • % of Employed Represented by Unions: 4.9
Quality of Life
  • Hopsitals per 10K: 0.13
  • Elementary/Secondary Schools per 1000 people: 0.261
  • Violent Crimes per 100K: 449.04
Key Companies
  • Bank of America Corporation
  • Lowe’s Companies Inc.
  • Duke Energy Corporation
  • Niuco, Progress Energy
  • Reynolds American
  • VF Corp.
  • Goodrich
Other Highlights
  • North Carolina held steady at #2 in 2009 and 2010
  • North Carolina ranks 37th in state debt per capita with $2138

Sources:
TaxFoundation.org
Statemaster.com
Bureau of Labor Statistics
U.S. Census Bureau
U.S. Patent and Trademark Office
The National Center for Public Policy and Higher Education