Business Investments in North Carolina

North Carolina is one of the most business friendly states in United States. It has been received the top rating for any US state to have the best business climate in 2007. At a time when many business processes are being outsourced to some other countries for reducing the production cost and thereby creating a better and competitive pricing structure, creating a suitable and attractive business climate is absolutely necessary for attracting quality business and industrial investment to any state.

The state government of North Carolina should be lauded for their efforts for attracting investments to the state. They specifically have two schemes, which cater well for the business growth of North Carolina. One North Carolina Fund was launched in 2001. HULT PRIVATE CAPITAL So far it has been successful in creating more than 17000 job opportunities and also in romping over two million dollars of business investment to the state. There is another scheme called Job Development Investment Grant (JDIG), which has been set up for providing annual grants to worthy and suitable business and industrial projects. This scheme was started in 2003. Every year 25 such grants are provided. The grants are provided to the business firms, which are strategically important and look to be on the winning path. So far JDIG has been successful in attracting business worth $1.9 billion and in turn creating over 10000 job opportunities.

Some of the big companies that have invested in the state of North Carolina are GlaxoSmithKline, Boon Edam Tomsed Inc., and Dole Food Company. These companies have invested quite huge sums. Their willingness to invest is a glittering evidence for the business friendly environment in North Carolina. In other words, the co-operation and interest shown by the state government to attract investment have been appreciated by the companies.

The Governor of the state, Michael Easley says the government adopts simple plans that can be executed easily for attracting the business organizations. He says, “Our interest has been the simple strategy of improving education and reducing the cost of doing business.” His statement clearly emphasizes two traditional strengths of North Carolina that make the state highly attractive destination for many business organizations. There is an abundant pool of highly talented and educated people, from whom a company can hire any number of suitable employees. But the cutting of cost is no longer a feasible option when competing with international business destinations in this era of outsourcing and globalization.

So the state officials realize this hard and unalterable fact and focus more on the creative a talent pool of the highest quality. Also the government is offering several forms of tax sops and reductions for the companies that are willing to invest in the state.


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