Business Case

Low cost of doing business

• 2.5% NC Corporate Income Tax rate
• 5.25% NC Individual Income Tax rate
• Davidson County Cost of Living Composite Index is 84.1
• Combined NC and Davidson County Sales tax of 7% - among the lowest in the U.S.
• No inventory tax
• Right-to work state (non-union)
• Personal Property Tax Rate among lowest in the southeast U.S.
  • Davidson County rate is $0.54 per $100 valuation
• Energy and Utilities rates among the lowest in the U.S.

Superior Transportation and Logistics Network

• I-85 connects Davidson County to the United States interstate network.
• I-285 provides immediate access to I-85 and I-40.
• NC Highway 64 provides immediate access to I-73/74 and I-40.
• Charlotte Douglas International Airport, Piedmont Triad International and RDU International Airport are conveniently located near Davidson County.
• Davidson County Airport (KEXX) offers business aviation services. Avgas/JetA (No fees with fuel purchase) 5,000 ft runway. ILS, LOC,DOR-DME,GPS

World-Class Workforce Development and Training

• Economic Development, Private Industry, Education and Government collaboration
• Fully-integrated advanced manufacturing education and training curriculum, at Davidson County Community College with apprenticeship opportunities provided through public-private partnerships.

Demographics

• Davidson County population – 170,907
• Davidson County labor force – 82,827
  • within 30 minutes – 579,315
  • within 45 minutes – 885,263
• Davidson County unemployment rate – 3.4% (03/2023)
• Median household income – 53,083
• Davidson County wage standard (2023) - $1,020/week
• Ranked as Tier 2 county (2017 - NC Commerce)

High Rock Lake

• High Rock Lake is a reservoir lake located in Davidson County and is part of the Yadkin/Peedee river basin
• High Rock Lake is the second largest recreation lake in NC

The Company You Will Keep…….(Major Davidson County Firms)

• 9th largest population in the U.S. (10,000,000 - 2021)
• 9th largest GDP in the U.S. ($481.9 Billion – US Commerce Department)
• 2nd largest state-maintained highway system in the U.S.
• The largest consolidated rail system in the U.S.
• The lowest corporate income tax rate in the Southeast (3.0% for 2017)
• No inventory tax
• Construction costs are 18% lower than U.S. average
• Largest manufacturing workforce in the Southeast (460,000+)
• 58 Community Colleges providing Customized Workforce Training and Development programs for new and existing industry
• #1 Best States for Workforce Development / Atlantic Region – Site Selection Magazine (2016)