Business Climate

Business Climate

YEAR AFTER YEAR, NORTH CAROLINA IS RECOGNIZED FOR ITS PRO-BUSINESS ENVIRONMENT.

EXPERIENCE THE MOMENTUM

Lenovo

Find out how the talent, resources, and business climate of North Carolina have helped international software powerhouse Lenovo create the AI of the future.

Low Taxes
Business growth begins with lower tax rates.

At 2.5%, North Carolina has the nation’s most competitive tax environment for businesses. Our state has a proven track record of reducing and streamlining business taxes. And starting in 2025, our tax rate will drop to 2.25% and decrease gradually until it ultimately reaches 0% in 2030. North Carolina’s business-friendliness is also showcased in the most recent Locations Matters study of corporate tax rates across all 50 states from the Tax Foundation and KPMG, which highlighted NC’s competitive tax structure across multiple industries.

Low Business Costs
Expansion is less expensive here.

Building costs, 16 percent below the national average. Electricity costs, 14.5 percent below the national average. Cost of living, 11 percent below the national average in major metropolitan areas. Across many key indicators, we come in under budget. North Carolina’s business costs rank among the lowest in the nation, making our state a more profitable place to work.

Unparalleled Innovation
Across our state, our talented workforce is patenting new ways to work smarter.

North Carolina businesses lead the nation in innovation with 96 percent patent growth over the past 10 years. With a commitment to long-term sustainability, North Carolina is a top state for solar and wind power production and is home to more than 1,700 clean energy firms. Our ample resources, highly skilled workforce, and renowned education systems all contribute to our state’s future-minded ingenuity.

Favorable Legal & Regulatory Environment
In North Carolina, legal roadblocks won’t hamper how you gain speed.

Recent tort reform, streamlined practices and the strengthening of business courts in the state have earned North Carolina accolades and rankings among the best legal climates in the U.S. What does this mean for you? When there’s less red tape and litigation, your business can reach new heights, faster.

Inclusivity
Open Arms, Minds, and Opportunities

Ranked in the Top 10 for LGBTQ Job Seekers, North Carolina’s increasingly diverse and inclusive makeup can be seen across the state, from coastal cities to mountain towns.