North Carolina

Quick Facts

North Carolina Governor Pat McCrory

North Carolina Governor Pat McCrory


  • Capital: Raleigh
  • Population (2012 Est.): 9,752,073
  • Largest Cities (2012): Charlotte, 775,202; Raleigh, 423,179; Greensboro, 277,080; Durham, 239,358; Winston-Salem, 234,349
  • Targeted Industries: Business/Financial Services, Automotive/Truck & Heavy Equipment, Aerospace/Aviation & Defense, Energy, Communications & IT
  • GDP (All Industry 2012): $455.9 billion*

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




Job Development Investment Grant: Awards a limited number of cash grants directly to new and expanding businesses that will provide economic benefits to the State, and need the grant to carry out the project in North Carolina. Grants are based on the job creation and investment commitment made by companies in their formal applications to the State prior to a location decision. Grant funds are disbursed annually to approved companies based on a percentage of withholding taxes paid by new employees, following satisfaction of performance criteria set out in grant agreements.

One North Carolina Fund: Awards grants for job creation and/or retention in conjunction with local government matches.

Job Maintenance and Capital Development Fund: Provides a limited number of grants to businesses located in Development Tier 1 counties, where the business is a major employer and has at least (i) 2,000 employees, and invests at least $200 million in capital improvements, or a business that is a large manufacturing employer and has at least (ii) 320 employees, and invests at least $65 million in capital improvements to convert its manufacturing process to change the product it manufactures.

Site and Infrastructure Grant Fund: Provides assistance for site development and infrastructure improvements for very high-impact projects.

Industrial Revenue Bond (IRB) Program: Assists private business development and expansion by issuing low-interest tax-exempt bonds. It offers qualified manufacturing facilities and certain solid waste disposal facilities convenient, long-term, flexible financing. The Industrial Facilities and Pollution Control Financing Authority of each county issues these bonds in the county where the project is located. IRBs can be either tax-exempt or taxable and can be used to finance an entire project, including the cost of land, construction of new or expanded facilities, acquisition and installation of depreciable property such as equipment, and construction period interest.

Industrial Road Access Program: Administered by North Carolina’s Department of Transportation (DOT), this program provides funds for the construction of roads to provide access to new or expanded industrial facilities. An access review committee comprised of representatives of the Department of Transportation performs a technical review of a requested project and makes recommendations about traffic and safety concerns and approval is based upon the resulting economic benefits of the project including the number of new jobs created, the amount of capital investment, highway’s use and the area’s economic conditions.

Industrial Rail Access System: Administered by the North Carolina DOT for businesses that want to locate or expand their facilities in NC. This program ensures that industries have the tracks needed to transport freight and materials and also assists in refurbishing tracks. Grant funding is contingent upon approval prior to the company making a decision to locate or expand in North Carolina and a private and/or local source match of funds. Approval is also based upon the economic benefits of the project including the number of new jobs created, the amount of capital investment, rail use and the area’s economic conditions.

Foreign Trade Zones (FTZ): Neutral, secured areas legally outside of the U.S. customs territory that offer economic advantages for businesses involved in international trade. There are six FTZs in North Carolina; several subzones are also approved for use by individual manufacturers.


On July 23, 2013, Governor Pat McCrory signed new tax reform legislation into law. The plan provides fiscally responsible tax relief to all North Carolina taxpayers. Income tax rates for all taxpayers will be lowered to a uniform rate of 5.8% in 2014 and 5.75% in 2015.  The corporate income tax will be reduced to 6% in 2014 and 5% in 2015. If the state meets revenue targets, the corporate income tax will drop to 4% in 2016 and 3% in 2017.

Article 3J Tax Credits: Provide tax credits to qualifying businesses for job creation, investment in business property and in some cases investment in real property.  This Article is repealed effective for business activities that occur on or after January 1, 2014.

Interactive Digital Media Tax Credit: Provides tax credit for developing interactive digital media. This credit is repealed effective for taxable years beginning on or after January 1, 2014.

N.C. Ports Tax Credits: Provide tax credits toward income taxes paid by businesses or individuals using North Carolina Ports facilities at Morehead City and Wilmington. This credit is repealed effective for taxable years beginning on or after January 1, 2014.

Renewable Energy Property Tax Credit: Provides a tax credit of 35% of the cost of renewable energy property.

Research and Development Tax Credit: Businesses with qualified NC research expenses are allowed a tax credit equal to a percentage of those expenses. The allowable credits are determined by:

  • Small Business:  Qualified small businesses on the last day of the taxable year are allowed a credit of 3.25%.
  • Low-tier research: For expenses for research performed in a Tier 1 county, a business is permitted a credit of 3.25%.
  • Other research: For expenses not cover under small business or low-tier, the credits below apply to qualified research expenses during the taxable year (click table to open new window and see detail):

Screen Shot 2013-11-08 at 4.14.15 PM

Sales and Use Tax Discounts, Exemptions and Refunds: Offers reduced rate allowances on certain parts, accessories and construction supplies for eligible industries and manufacturing processes.

Winston-Salem Business Inc.

Robert Leak, Jr.
1080 W. Fourth St.
Winston-Salem, NC 27101
fax: 336-761-1069
[email protected]

Located in Forsyth County in the Piedmont Triad region of North Carolina, Winston-Salem is well suited for business relocation and expansion. Winston-Salem offers a diverse demographic make-up, strong labor force, and competitive tax rates and an excellent school system.


State Listings

  • Carolina Center for Competitive Economics

    Brent Lane
    Executive Director
    The Kenan Center, CB# 3440
    Chapel Hill, NC 27599-3400
    P: 919-962-8871
    [email protected]
  • North Carolina Department of Commerce

    Tiffany McNeill
    Client Services Manager
    301 North Wilmington Street
    Raleigh, NC 27699
    P: 919-733-4977
    [email protected]
  • North Carolina Economic Developers Association

    John Peterson
    Executive Director
    1201 Edwards Mill Road, First Floor
    Raleigh, NC 27607
    P: 919-882-1961
    [email protected]
  • North Carolina Indian Economic Development Initiative

    W.A. "Tony" Hayes
    4904 Professional Court, Suite 100
    Raleigh, NC 27609
    P: 919-232-9414
    [email protected]
  • North Carolina Rural Economic Development Center, Inc.

    Patrick Woodie
    Acting President
    4021 Carya Drive
    Raleigh, NC 27610
    P: 919-250-4314
    [email protected]
  • North Carolina State Ports Authority

    Jimmy Yokeley
    Director, Community Economic Development (Business Development Dept.)
    P.O. Box 9002
    Wilmington, NC 28402-9002
    P: 910-343-6325
    [email protected]


Utility Listings

  • AT&T

    Venessa Harrison
    President, AT&T North Carolina
    150 Fayetteville Street, Suite 800
    Raleigh, NC 27601
    P: 704-417-7622
    [email protected]
  • Blue Ridge Electric Membership Corp.

    Alan Merck
    Director of Key Accounts & Business Development
    1216 Blowing Rock Boulevard
    Lenoir, NC 28645-0112
    P: 828-759-8979
    [email protected]
  • Duke Energy

    Stuart Heishman
    Vice President, Economic & Business Development
    526 South Church Street (EC03ZD)
    Charlotte, NC 28202
    P: 704-382-7195
    [email protected]
  • ElectriCities of North Carolina, Inc.

    Brenda Daniels
    Manager, Economic Development
    1427 Meadow Wood Boulevard
    Raleigh, NC 27604
    P: 919-760-6363
    [email protected]
  • North Carolina's Electric Cooperatives

    Eddie Miller
    Vice President of member services and community development
    3400 Sumner Blvd.
    Raleigh, NC 27616
    P: 919-875-3049
    [email protected]


Regional Listings

  • AdvantageWest Economic Development Group

    Scott T. Hamilton
    President & CEO
    134 Wright Brothers Way
    Fletcher, NC 28732
    P: 828-687-7234
    [email protected]
  • Carolinas Gateway Partnership

    John R. Gessaman
    President & CEO
    427 Falls Road
    Rocky Mount, NC 27804-4808
    P: 252-442-0114
    [email protected]
  • Centralina Council of Governments

    Mike Manis
    Community & Economic Development Director
    525 North Tryon Street, 12th Floor
    Charlotte, NC 28202
    P: 704-348-2720
    [email protected]
  • Charlotte Regional Partnership

    David Swenson, CEcD
    Senior Vice President, Economic Development Services
    550 South Caldwell Street, Suite 760
    Charlotte, NC 28202
    P: 704-347-8942
    [email protected]
  • Fayetteville Regional Chamber

    Russ Rogerson
    Executive VP, Economic Development
    1019 Hay Street
    Fayetteville, NC 28305
    P: 910-484-4242, ext. 245
    [email protected]
  • Lake Norman Regional Economic Development Corporation

    Ryan McDaniels
    Executive Director
    10115 Kincey Avenue, Suite 148
    Huntersville, NC 28078
    P: 704-992-2300
    [email protected]
  • North Carolina's Southeast

    Joe Melvin
    Director of Business Development
    707 West Broad Street, P.O. Box 2556
    Elizabethtown, NC 28337
    P: 800-787-1333
    [email protected]
  • Piedmont Triad Partnership

    David M. Powell
    President & CEO
    416 Gallimore Dairy Road, Suite M
    Greensboro, NC 27409
    P: 336-369-2208
    [email protected]
  • Research Triangle Foundation of North Carolina

    Anna Penner
    Director, Business Development
    12 Davis Drive, Research Triangle Park
    Durham, NC 27709
    P: 919-549-8181
    [email protected]
  • Research Triangle Regional Partnership

    Debbie Lilly, CEcD
    VP, Business Development
    RDU Center, 1000 Trade Drive, Suite 124 (P.O. Box 80756)
    RDU International Airport, NC 27623
    P: 919-334-4072
    [email protected]
  • RowanWorks (Salisbury-Rowan Economic Development Commission)

    Robert M. Van Geons
    Executive Director
    204 East Innes Street, Suite 220
    Salisbury, NC 28144
    P: 704-637-5526
    [email protected]
  • Statesville Regional Development

    C. Michael Smith
    Executive Director
    116 North Center Street, Suite 101
    Statesville, NC 28677
    P: 704-871-1142, ext. 202
    [email protected]


County Listings

  • Ashe County Economic Development

    Cory Osborne
    Assistant Director of Economic Development
    150 Government Circle, Suite 2500
    Jefferson, NC 28640
    P: 336-846-5535
    [email protected]
  • Asheville-Buncombe Economic Development Coalition

    Ben Teague
    Senior VP/Executive Director
    36 Montford Avenue
    Asheville, NC 28801
    P: 828-258-6130
    [email protected]
  • Beaufort County Economic Development Commission

    Robert "Bob" Heuts
    Executive Director
    705 Page Road
    Washington, NC 27889
    P: 252-946-3970
    [email protected]
  • Burke Development, Inc. (BDI)

    Scott Darnell
    President & Executive Director
    2128 South Sterling Street, Suite 150
    Morganton, NC 28655
    P: 828-764-9370
    [email protected]
  • Carteret Economic Development Council

    Myles Michael Stempin
    Executive Director
    Commerce Development Center, 3615 Arendell Street
    Morehead City, NC 28557
    P: 252-222-6122
    [email protected]
  • Catawba County Economic Development Corporation

    Julie Pruett
    Director, Business Recruitment
    1960-B 13th Avenue Drive SE, P.O. Box 3388
    Hickory, NC 28603
    P: 828-267-1564
    [email protected]
  • Cleveland County Chamber of Commerce

    Michael Chrisawn
    200 South Lafayette Street
    Shelby, NC 28150
    P: 704-487-8521, ext. 103
    [email protected]
  • Duplin County Economic Development Corporation

    James Wolfe
    Executive Director
    260 Airport Road
    Kenansville, NC 28349-0929
    P: 910-296-2180
    [email protected]
  • Economic Development Commission of Caldwell County

    Deborah Murray
    Executive Director
    1909 Hickory Boulevard SE, P.O. Box 2888
    Lenoir, NC 28645
    P: 828-728-0768
    [email protected]
  • Gaston County Economic Development Commission

    Donny Hicks
    Executive Director
    620 North Main Street, P.O. Box 2339
    Belmont, NC 28012
    P: 704-825-4046
    [email protected]
  • Harnett County Economic Development Commission

    Tommy Burns
    County Manager
    102 East Front Street
    Lillington, NC 27546
    P: 910-893-7555
    [email protected]
  • Haywood County Economic Development Commission

    Mark B Clasby
    Executive Director
    144 Industrial Park Dr.
    Waynesville, NC 28786
    P: 828-456-3737
    [email protected]
  • Henderson County Partnership for Economic Development

    Andrew T. Tate
    President & CEO
    330 North King Street
    Hendersonville, NC 28792
    P: 828-692-6373
    [email protected]
  • Jacksonville Onslow Economic Development

    Sheila Pierce
    Executive Director
    1099 Gum Branch Road
    Jacksonville, NC 28540
    P: 910-347-3141, ext. 228
    [email protected]
  • Lee County Economic Development

    Jane Wesley
    Administrative Assistant
    5825 Clyde Rhyne Drive, P.O. Box 1968
    Sanford, NC 27331-1968
    P: 919-774-8439
    [email protected]
  • Lincoln Economic Development Association

    Cliff Brumfield
    Executive Director
    502 East Main Street
    Lincolnton, NC 28092
    P: 704-732-1511, ext. 4
    [email protected]
  • Orange County Economic Development

    Steve Brantley
    131 West Margaret Lane
    Hillsborough, NC 27278
    P: 919-245-2326
    [email protected]
  • Person County Economic Development

    Stuart C. Gilbert
    304 South Morgan Street
    Roxboro, NC 27573
    P: 336-597-1752
    [email protected]
  • Rutherford County Economic Development Commission

    Matt Blackwell
    Executive Director
    142 East Main Street, Suite 100
    Forest City, NC 28043
    P: 828-248-1716
    [email protected]
  • Stokes County Economic Development

    Alan Wood
    1014 Main Street
    Danbury, NC 27016
    P: 336-593-2496
    [email protected]
  • Surry County Economic Development Partnership, Inc.

    Todd Tucker
    118 Hamby Road, Suite 146, P.O. Box 1282
    Dobson, NC 27017
    P: 336-401-9900
    [email protected]
  • Wake County Economic Development (WCED)

    Adrienne Cole
    Executive Director
    800 South Salisbury Street, P.O. Box 2978
    Raleigh, NC 27602-2978
    P: 919-664-7041
    [email protected]
  • Wilkes Economic Development Corporation

    Jeff Garstka, CEcD
    213 Ninth Street
    North Wilkesboro, NC 28659
    P: 336-838-1501
    [email protected]


City Listings

  • Cary Chamber of Commerce

    Sandy Jordan
    VP, Economic Development
    307 North Academy Street
    Cary, NC 27513
    P: 919-467-1016
    [email protected]
  • Charlotte Chamber of Commerce

    Jeffrey L. Edge, CEcD
    Senior Vice President, Econ. Dev.
    330 South Tryon Street, Suite 200
    Charlotte, NC 28202
    P: 704-378-1307
    [email protected]
  • Charlotte Economic Development Committee

    Ron Kimble
    Deputy City Manager
    600 East 4th Street
    Charlotte, NC 28202
    P: 704-336-7600
    [email protected]
  • Durham Office of Economic & Workforce Development

    Kevin Dick
    302 East Pettigrew Street, Suite 190
    Durham, NC 27701
    P: 919-560-4965, ext. 15219
    [email protected]
  • Greensboro Economic Development Alliance

    Dan Lynch
    342 North Elm Street
    Greensboro, NC 27401
    P: 888-693-6939
    [email protected]
  • Monroe Economic Development

    R. Christopher Plate
    3900 Paul J. Helms Drive
    Monroe, NC 28110
    P: 704-282-5780
    [email protected]
  • Mooresville South Iredell Economic Development Corporation

    Robert J. Carney
    Executive Director
    151 East Iredell Avenue
    Mooresville, NC 28115
    P: 704-664-6922
    [email protected]
  • Raleigh Economic Development

    James Sauls
    Economic Development Manager
    One Exchange Plaza, Suite 707
    Raleigh, NC 27602
    P: 919-996-2707
    [email protected]
  • Town of Holly Springs

    Jenny Mizelle, CEcD
    Economic Development Director
    128 South Main Street, P.O. Box 8
    Holly Springs, NC 27540
    P: 919-557-3906
    [email protected]
  • Winston-Salem Business Inc.

    Robert Leak, Jr.
    1080 West Fourth Street
    Winston-Salem, NC 27101
    P: 336-723-8955
    [email protected]