Business Climate

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Lee Anne Nance

Executive Vice President
919-334-4075
lnance@researchtriangle.org
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We know what growing companies need. Better yet, we know how to make sure they get it.

North Carolina is consistently ranked among the best business climates in the nation by Site Selection, Forbes, CNNMoney and Chief Executive. And they didn't ask us - that's our customers talking. The rankings are based on the opinions of site selection consultants and representatives from the many new and expanding companies that call this place home.

Which makes sense - our intentionally created environment stops just short of controlling the weather to provide a favorable economic climate. An extensive network of business support services. Our collaborative, regional network of university, government and private partners is aligned around a single vision and goal: to support businesses at every stage of development and make it easy for them to operate and grow.

Government that understands business. Supportive government officials, both local and state, make strategic, lasting investments in education, workforce development, infrastructure and technology. They provide sound, stable fiscal policy through a constitutionally mandated balanced budget, reasonable tax rates, a right-to-work labor environment and a rare AAA bond rating.

Low business costs. Construction costs, electric rates, overall taxes and our cost of living are all below the national average.

Talent. More than 60,000 people move to our region each year. They're drawn by the depth of economic opportunity, the strength of our universities, our famed quality of life, and the many lifestyle choices available. Their decision to come - and the massive influx they represent - means companies here can attract and retain talent they need to grow. And our community colleges offer free customized training programs that have been recognized as the nation's most sophisticated. 

Knowledgeable vendors. Utilities, suppliers and professional service providers offer extensive knowledge about our core clusters and specialized products and services to support them.

Targeted tax incentive programs. New and existing businesses alike benefit from financial assistance programs that lower the cost of doing business in order to operate competitively. State and local governments can offer discretionary grants to compete for new companies. Tax credits for job creation, investment and research and development are set by law.

So no matter how you're trying to grow your business, you'll find the soil here is decidedly fertile.