North Carolina Economic Development Guide

2015

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1201 Edwards Mill Road, Suite 400, Raleigh, NC 27607 (888) 246-2332 | nceda@capstrat.com The Voice of Economic Development in North Carolina NCEDA is the statewide association for professional economic developers and their allies in North Carolina. A COMPELLING TRACK RECORD EASY ACCESS TO MAJOR MARKETS A N D A R E M A R K A B L E W O R K F O R C E M A N U FAC T U R E S U C C E S S See what other advanced manufacturing companies already know—this is where you build success. A Greater Triad workforce of 837,755 and fexible training programs. Great companies such as Located within 650 miles of more than half of the U.S. population. Visit WSbusinessinc.com to learn more, including a featured site where your business can grow. WINSTON –SA L E M FORSYTH COUNTY Few dispute the economic signifi - cance of building massive data centers. "[They have] benefi ted everyone," says Scott Millar, president of Hickory-based Catawba County Economic Develop- ment Corp. He says taxes from Apple's data center helped stabilize county property-tax rates during the recent recession, when other municipalities were raising them to fi ll budget gaps. Maiden's tax rate fell by a net 2 cents during the same time despite it constructing a town hall and fi rehouse. That's why local and state govern- ments have been willing to offer incen- tives to attract data centers. T5 didn't get any to develop its Kings Mountain park, but its tenants have to locate there. Those businesses pay less in county property taxes, says former Cleveland County Manager Dear, who now works with Shelby-based Cleveland County Economic Development Partnership. "We've also widened a roadway and made water-line and sewer-line extensions." The city of Kings Mountain is giving T5 tenants "relief on taxes and permitting fees," Murphrey says. The state gives breaks such as sales-tax exemptions to data centers that meet investment and job-creation thresholds. The economics of data centers are as competitive as any business venture, so their owners want to cut costs where they can. "North Carolina is a pro-business state," one where offi cials understand the strategic objectives of growing companies and industries, Wangenheim says. "That's not a commitment that is universal across the country." Murphrey credits collaboration among local and state offi cials for the business-recruiting success of his city. "Any time there's an economic-develop- ment opportunity, we work closely with the county and the state." That has impressed Wangenheim. "They've met us with open arms and are very encourag- ing of our success. That makes a huge difference in paving the way."

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