Business Costs

A Competitive Cost Structure Awaits

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 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 – Best States for Business, 2017, Forbes
#1 – Lowest State and Local Business Tax Burden, 2016, Ernst & Young
#2 – Lowest Business Costs, 2016, Forbes
#2 – Business Climate Ranking, 2016, Site Selection Magazine
#3 – Best State for Business, 2017, Chief Executive Magazine

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

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