Business Costs

For companies that are looking to relocate in the Charlotte metro area, Rowan County offers a number of business cost advantages.

Business costs in North Carolina rank among the lowest in the nation. Reliable, low-cost electricity, construction costs well below the U.S. average, competitive labor costs and a low cost of living make North Carolina and Rowan County a profitable place for business.

• Our success is fueled by a competitive tax climate – with the lowest corporate income tax in the United States – as well as a favorable legal and regulatory environment, and a growing workforce.
• North Carolina offers the lowest corporate income tax in the United States.
• Compared to the Charlotte Metro average, average land prices and lease rates for office, industrial and retail end-users is considerably lower in Rowan County.
• Rowan County’s average weekly labor costs employers 13 percent less than North Carolina’s average and 45 percent less than the Charlotte average.
• Electric costs are competitive. The average (industrial) electricity rate in Salisbury is 9.3% less than the national average rate of 6.67¢/kWh. Natural gas rates are also nationally competitive.
• The cost of living in Rowan County is 10% lower than the national average and about 6% lower than Charlotte, NC. In particular, housing is considerably more (20%) affordable.

#1 – State of the Year, 2022, Business Facilities
#1 – Best States for Business, 2021, Site Selection Magazine
#1 – Best States for Business, 2019, Forbes
#1 – Best Regulatory Environment, 2019, Forbes
#2 – Best States for Business, 2021, CNBC
#3 – Lowest State and Local Business Tax Burden, 2019, Ernst & Young
#4 – Lowest Business Costs, 2019, Forbes

More information on the tax rates and structure in North Carolina can be found here. For information on North Carolina business incentives, visit here.