Moving a business is an expensive ordeal. It, therefore, makes sense you move your business to a friendly and economically growing location. North Carolina is one of the best places to move your company to in the US; if you wonder why stick around and find out.
Affordable Real Estate
The first thing you need to consider before moving your business is where you will set it up. North Carolina has some of the most affordable rental spaces for companies.
Compared to other states like New York and San Francisco, NC has some relatively cheap spaces. It does not matter whether you want to buy the area or rent it; it is affordable.
There are various reasons you might want to move your company. A significant reason can be that the current space you occupy is expensive. After paying for the area, you are left with low profits. Supposing that is the case, NC should be your spot.
Taxation and Government Grants
Corporate income tax is levied in 44 states of the United States. North Carolina is one of those states. These taxes are what a company pays to the government on their profit. For example, NC charges a meager corporate tax of 2.5 percent, according to Tax Foundation. Compared to other states like New Jersey, which charges 11.5 percent, NC rates are lucrative.
Did you know that you can acquire a government grant when relocating your company to NC? The US government offers government grants for business relocation in various states, North Carolina is one of them. The low rates of taxes and grants should convince you to move your business to NC.
A Huge Workforce
North Carolina has 53 universities and colleges. Seventeen of those are public universities. So if you are wondering how this will be beneficial to your company, read on.
Each year, a lot of students graduate from those universities and colleges. They are looking for work, and since they do not have a lot of experience, they will not charge a lot.
After moving your company, you are starting afresh. As a result, you will want cheap labor. These students, combined with the many young people moving to NC every year, will offer you the workforce you require.
Ease of Accessibility
You can travel to or out of North Carolina by various means of transportation by air, road, rail, and sea. NC has four major airports and a stream of airstrips and airlines. It has two ports, and it has a well-connected network of roads. It is also connected to twenty-two states via railways.
If you move your company to North Carolina, you do not have to worry about how you will transport your product. Whether you outsource your raw materials or get them in the state, they will get to your company fast.
Supposing you are selling your products out of the state, you will not struggle to transport them. This state has a well-updated infrastructure.
So, you should not be worried about your products, notwithstanding that they are perishable. Also, it will be easy for you and your business associates to travel to and from the state.
A Low Cost of Living
Most of the time, you tend to stay where your business is. For example, it is rare to find a person who works in North Carolina and lives in New York unless they are not actively involved in the company.
It will be costly if you decide to fly to NC daily from another state. As a result, you will stay in NC if you move your company to this state.
In North Carolina, groceries, housing, utilities, and transportation are all below the country’s average. So, you will not have to worry about your living conditions once you move your company to NC.
Whether you should move your company to North Carolina or not should not be something to bother you. As you have seen above, there are numerous benefits of moving your business to NC. You will benefit from grants and low corporate income tax, but you will also enjoy the low cost of living. What more could you be looking for?
