by Amanda Harrison, on 9/20/19 11:48 AM
Area Development recently released their '2019 Top States for Doing Business List' and North Carolina came in at number 5, trailing behind Georgia, Tennessee, South Carolina and Alabama. Over a dozen different assessments were studied in order to compile the rankings. Let’s take a look at where NC landed in a few of these categories.
Overall Cost of Business
This category took into account all the expenditures, taxes, and other financial burdens for businesses. With a three-way tie for third place (Georgia, South Carolina, Alabama), the Tar Heel State slid into sixth.
Corporate Tax Environment
A huge factor businesses use when selecting a new site is taxes. Since North Carolina has the nation's lowest corporate income tax, it should come as no surprise that we took second place in this category (behind Texas).
Competitive Labor Environment
First place here is Georgia. Their population skews younger than the national average and Atlanta attracts a large number of professionals. It provides free, customized training for companies and the people they want to hire — and its expertise has boosted the careers of more than a million people through the years.
We tied with Tennessee for third in this assessment.
Most Improved Economic Development Practices
Here in Currituck County, we know that in order to grow your business, you can't stand still. This category proves that the rest of our state knows that too. Whether we lower tax burdens for businesses or improve upon our infrastructure, we're always looking for ways to encourage more businesses to open and thrive.
You can read the full report here.
