Davidson County EDC Business Case

DAVIDSON COUNTY

Low cost of doing business

  • 3.0% NC Corporate Income Tax rate
  • 5.499% NC Individual Income Tax rate
  • Davidson County Cost of Living Composite Index is 88.8
  • Combined NC and Davidson County Sales tax of 6.75% - 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 – 164,926
  • Davidson County labor force – 81,880
    • within 15 minutes – 141,307
    • within 30 minutes – 579,315
    • within 45 minutes – 1,505,155
  • Davidson County unemployment rate – 3.6% (12/2018)
  • Median household income – 45,806
  • Davidson County wage standard (2016) - $753/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)

  • EGGER Wood Products
  • Atrium Windows and Doors
  • Old Dominion Freight Line
  • Richard Childress Racing
  • Nippon Electrical Glass (NEG)
  • ASCO Power Technologies
  • United Furniture Industries
  • VitaCost
  • Whitewood Industries
  • Ennis Flint
  • Matcor
  • Mohawk
  • BMK Americas
  • Brasscraft Manufacturing, Inc
  • Kurz Transfer Products
  • Halyard Health
  • Frenzelit
  • Kaufman Trailers
  • Multi Packaging Solutions
  • Caraustar
  • HAECO
  • Masterbrands
  • Coveris
  • Arneg
  • Xceldyne Technologies
  • Imaflex
  • Jeldwen Doors

NORTH CAROLINA

  • 9th largest population in the U.S. (over 10,000,000 - 7/2018)
  • 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)