As the national economy begins to show consistent signs of recovery, the Virgina Beach-Norfolk-Newport News MSA also continues to rebound locally and regionally. With this increase in the economy comes the decision to choose Currituck County as a destination for businesses to open locations or relocate. Not only is it is such a great place to raise a family, but Currituck County offers more financial advantages to its residents and businesses than the neighboring Hampton Roads area in Eastern Virginia.
How Currituck County Helps Local Businesses
Currituck County sits just 20 miles south of Hampton Roads
and is part of the Virginia Beach-Norfolk-Newport News MSA. It is a breathtaking part of the North
Carolina that offers a “mix of cultural fields, clustered development, forests,
wetlands and estuarine marshes,” according to a 2011 Currituck County
Profile.
Business owners who set up shop in Currituck County enjoy so
many financial advantages that are not afforded to the Hampton Roads business
arena. This area understands what it
takes to operate a business and genuinely wants to make it appealing to bring
business here. To highlight the primary
advantages, Currituck County has:
·
One of the lowest tax burdens in all of North
Carolina and Virginia which is a huge benefit for new and expanding businesses
in this area
·
A very low tax rate of $0.32/$100 of valuation
compared to that of Eastern Virginia which falls between $3.70/$100 valuation
in Virginia Beach and $4.25/$100 valuation in Chesapeake, Hampton, and the
other Virginia cities
·
Considerable resources for development and
expansion
·
Machinery and sales tax relief
·
Custom workforce training program and
reimbursement
·
Grants to offset real and personal property
investments
(Source: Currituck County 2011 Profile, Currituck
Economic Development)
Another huge incentive to bring business to Currituck is
that the county does not require a local business license which in turns means
no license tax or fee. For many HamptonRoads Business, this fee can be as much as $0.40/$100 in gross
sales making Currituck more attractive for high volume businesses. In addition, they may have to pay a business
privilege and occupation license (BPOL) tax on gross receipts which means that
a Hampton Roads business with no gross revenue is still required to pay a tax
for the license.
Business Opportunities in Currituck County
Because tourism is Currituck County’s main economic
advantage, it sees over two million visitors every season. There is a local workforce of over 13,000
people with more than one million workers within 60 miles.
In addition to tourism, there are more and more business opportunities
in Currituck County. The area is poised
for growth over the next few years.
Moyock’s new sewage treatment plant makes it more alluring for
residential and commercial development in the area. The overall small business sector is a
growing one providing year-round service and professional jobs. Currituck Economic Development Director,
Peter Bishop, says “a steady stream of new home construction accounts for more
jobs.”
Currituck County’s Quality of Life
Not only is the foundation laid to entice business,
Currituck County’s quality of life is also an asset. It is home to some of the best schools that
rank in the top percentiles in the region in terms of academic achievement,
graduation rates and new facilities.
The same tax rate that applies to business property does so
with personal property. With Currituck
being unincorporated, there is only one layer of taxation. This is very attractive even for those who work
in Hampton Roads and choose to live in Currituck County.
With so many attributes for building businesses in Currituck County,
it is no wonder why the prediction is for steady growth. For more information, please contact the
Currituck County Economic Development at (252) 232-6015 or pbishop@thinkcurrituck.com.
For More Contact:
Think Currituck
P153 Courthouse Road, Suite 207
Currituck, NC 27929
Phone:
http://www.thinkcurrituck.com/
