Doing Business in North Carolina

Swedish corporate presence in North Carolina consistently ranks among the top ten foreign investment sources in this region. In South Carolina, Sweden ranks as the 21st largest international investor and the 11th largest European Union investor. Combine these figures, and this makes SACC of the Carolinas a powerful institution in both states. SACC of the Carolinas is committed to assisting companies by providing information and assisting them through development of partnerships with governmental and private agencies. In working with our partners, we help them to understand Swedish culture and Swedish business.
The Carolinas' business environment is friendly to Swedish corporations. Site Selection magazine ranks North Carolina number one in the U.S. for location of new foreign-owned facilities in the 1990s. Also, in a survey of 200 metro areas, Forbes Magazine ranked the Triangle area as the 13th best place for business and careers. Included in the list are Charlotte (#30) and Wilmington (#36). Criteria included eight indicators: wage/salary growth, job growth and several high-tech productivity output indicators (based on year 2000 economic data). North Carolina has a low tax burden, ranked #29 of 50 states. With NO inventory or intangible tax, Carolina is the place to be. There are additional tax credits for investment, job creation, R&D, and worker training, to name a few.

The North Carolina economy is strong with an AAA Bond Rating and strong venture capital growth of over 23% in the past three years with expanding IT and biotechnology sectors.

About 3 million people live within the 160-mile crescent served by Interstate 85 and 40 between Raleigh, the state capital, and Charlotte, North Carolina's largest city and home of two of the largest banks in the U.S. Three international airports are within this crescent, putting two-thirds of the U.S. with two hours flying time. Within 1100 km of North Carolinas are 170 million U.S. and Canadian consumers. In addition, you have 65 of North America's top 100 metropolitan areas and 58.2% of the total U.S. retail sales as well.

Raleigh is the eastern anchor for the internationally recognized Research Triangle, a research, education, and high technology center serving biotech, pharmaceutical, IT, and the environmental sciences. Greensboro, High Point and Winston-Salem make up the Triad. They are home to many of the furniture, textile, and tobacco companies. "Metrolina" (Charlotte and Gastonia in NC and Spartanburg in SC) is a financial, regional distribution and textile center. In addition, the area serves a growing automotive industry located around the BMW plant in South Carolina.

Source: NC Dept of Commerce

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