LET THEM DO WONDERS FOR YOU.

There are many ways for businesses to fuel growth. A favorable tax structure ranks right up there. At just 2.5%, North Carolina’s corporate tax rate helps businesses across industries expand, invest, compete, attract talent and create jobs. The advantages of this rate are only going to get more advantageous. By 2030, the corporate income tax will be phased out completely. If 2.5% spurs growth, just imagine what 0% will do.

Read the KPMG and Tax Foundation study.

First, the Platinum

North Carolina earns another Platinum Shovel with a list of major projects that covers most of the economic bases. Leading the way is one of our Manufacturing Project of the Year awards, which happens to be one of the many related to the manufacture of electric vehicles, or EVs. A Vietnamese newcomer to this sector, VinFast plans to hire as many as 7,500 people at a plant in Moncure, North Carolina, which is slated to be operational by 2025.

VinFast is to be a $4 billion investment. Semiconductor maker Wolfspeed one-ups that news with a $5 billion deal to manufacture silicon carbide wafers in Siler City. The wafers are used to form semiconductors, and the company’s chip-related products will help make EVs go — Wolfspeed has partnerships with General Motors, among other automakers. The Siler City plant is to create about 1,800 jobs.