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North Carolina consistently ranks as one of the top places in the nation to live and do business. From low business costs to a large, productive labor force to outstanding scenic and recreational attractions, North Carolina has numerous advantages.
NOTE: all the links below are to information presented on other Web sites. Progress Energy is not responsible for the accuracy of content at those sites.
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Low Business Costs
- No inventory tax.
- Electric rates for industrial, commercial and residential customers are below national average.
- Grants and low-interest loan programs are available.
- North Carolina has a AAA bond rating.
- Tax credit incentives are available to new and expanding industry.
- North Carolina enforces sound fiscal policy through a constitutionally mandated balanced state budget.
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Business Environment
- Research Triangle Park continues to be a model for technology corridors around the country.
- Charlotte, a major financial center, is the banking headquarters for Bank of America and Wachovia.
- North Carolina is home to the Global TransPark business complex and education and training center.
- In November 2006, Site Selection ranked North Carolina the #1 best business climate in America.
- North Carolina ranked the #3 largest state in the biotechnology industry by Ernst & Young, April 2006. .
- In August 2006, Forbes ranked North Carolina the #3 best state for Business.
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Transportation
- North Carolina lies within a 700-mile radius of more than 170 million U.S. and Canadian consumers, and at least 70 percent of the nation's industrial base.
- The state offers two deepwater ports that handle nearly five million tons of cargo each year.
- Four international airports provide passenger service by major carriers to most locations throughout the U.S.
- The state boasts a 4,000-mile rail network.
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Labor
- North Carolina is a "right-to-work" state, with a unionization rate of 2.9 percent – the third-lowest rate in the nation.
- The state's workers have a strong work ethic; absenteeism rates are low.
- Workers' compensation and unemployment insurance rates are among the lowest in the nation.
- North Carolina offers free, customized skills training through an extensive system of 58 community and technical colleges.
- A state-supported university system (one of the top-rated systems in the country) offers advanced educational opportunities at 16 campuses.
- The R&D capabilities within the internationally recognized Research Triangle Park (RTP) provide support for diverse business and industry endeavors.
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Quality of Life
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