North Carolina is a state that is known for its strong agricultural industry, as well as its food processing and manufacturing. Companies such as Tyson, Campbell's, and Smithfield have made NC a leader in innovation, with 96 percent patent growth over the past 10 years. The state is also a top producer of solar and wind energy, with more than 1,700 clean energy companies. Organizations like the North Carolina Technology Association are dedicated to advocating for innovation and connecting leaders in industry, government, and education.
For those looking to start a business in North Carolina, the first step is to choose an available business name by searching the state database. Governor Cooper has been focused on supporting businesses during the pandemic, developing partnerships to ensure workers and consumers can visit businesses safely. This has helped NC have one of the lowest COVID-related deaths and per capita job losses during the pandemic. The automotive industry is also strong in North Carolina, with hundreds of companies producing components such as engines, transmissions, brake systems, and trim and finishes for vehicle interiors.
North Carolina institutions are among the top recipients of research funding from the National Science Foundation and the National Institutes of Health. The state also ranks high in cryptocurrency mining. Financial sector businesses can benefit from low taxes, an active business environment, and significant investments in research and capital funding. There are also advocacy groups such as the American Institute of Certified Public Accountants that can help businesses navigate the state's tax code.
At 2.5 percent, North Carolina's corporate income tax rate is lower than South Carolina's highest corporate income tax rate and 3.5% lower than neighboring Virginia.Finally, North Carolina is home to one of the best fried foods in history: Krispy Kreme donuts! 80 years after starting the company, Krispy Kreme is still headquartered in Winston-Salem.