Boasting the tenth largest economy in the world, North Carolina has a lot to contribute to its businesses. The Tar Heel State placed first on Forbes’ list of Best States for Business thanks to its low costs, business-friendly regulations, outstanding labor pool, and promising growth prospects. And North Carolina isn’t just a passing fad; it’s been in the top five on Forbes’ list for thirteen years. CNBC also ranks it in the top ten for its cost of doing business, workforce, and economy.
The high rankings come from North Carolina’s commitment to be business friendly. With a 3% corporate income tax rate, the state ranks third in the nation on the Tax Foundation’s 2019 State Business Tax Climate Index. North Carolina also has low construction costs and power rates.
There’s no shortage of money coming into the state. North Carolina’s beautiful scenery, including 300 miles of coastline and majestic mountain peaks, attract visitors year round. In fact, it’s the sixth most visited state in the US.
FranNet’s local experts are available to you—they know North Carolina, and they know business. They’re ready to help you choose the business that will work best for you in the Tar Heel State.