The Lowest Unemployment Rate in North Carolina is in Currituck CO

We are so excited to claim the lowest unemployment rate in the entire state of North Carolina.  Currituck CO landed in the top spot in October 2012 with an unemployment rate (UE) of just 5.5 percent.  When compared with Scotland and Graham County’s UE rates topping 15 percent, it is very evident that Currituck County is prepped to see continued economic growth.

Much of the stability of the job market in Currituck County comes from the tourism and visitor-related industries which are seeing growth during the “shoulder seasons” of the spring and fall.  This new growth is attributed to visitors from surrounding areas who come to our slice of paradise for long weekends and overnight stays.

Outside the tourism industries we are seeing larger growth in the agricultural industry as well.  With the increases in demand for agricultural production as well as the demand for fuel all over the world, Currituck County has huge potential for long term growth in agriculture over the next 10 years.  

Other sectors seeing growth are small businesses as well as year round services and professional jobs.  More people are relocating to Currituck County from Hampton Roads and other parts of the country because of their ties to the military either in the military or working with defense contractors which means more people are setting up needed businesses in the area. 

As the northeastern most county in North Carolina, Currituck County is the bridge between Hampton Roads and the Outer Banks.  With the estimated population of almost 24,000 (2011 Census Estimate) people living on over 260 square miles of land, Currituck County is ripe for the picking with businesses relocating to the area.  The ideal location with rural and coastal areas, lower taxes and access to perfect beaches, this is the perfect locale for business and personal relocation.

We are excited for the future of Currituck County and plan to do everything we can to ensure its economic success.  Because of our strong outlook and our love of the community, Currituck County will, without a doubt, prosper and continue to grow.  

For more Contact:

Think Currituck 

P153 Courthouse Road, Suite 207

Currituck, NC 27929

Phone:             252-232-6015      

http://www.thinkcurrituck.com/

Currituck Economic Development Shows How Business Incentives Can Help Your Company

From all indications the economy looks to be on the mend, at least for many of the businesses on the Eastern Seaboard which includes Currituck, North Carolina. There are new developments in many areas of Currituck County and the local government knows the best way to keep that development growing is by giving them good reasons to come.  Luckily there are several great business incentive programs that are already in place to offer anyone who wants to establish a new business, expand their present one or relocate from their current location to Currituck, North Carolina. 

Work Force Expansion - Job Development Investment Grants

This is a program that is run by the State of North Carolina. The Currituck Economic Development Agency can assist companies who are interested in this discretionary incentive program through their network of business centers throughout Currituck County. This program can assist businesses that are looking to relocate to currituck north carolina or expand, if they meet the following criteria:

•     They are looking to increase employment and the local opportunity for employment.

•     Their plans will help to strengthen the state’s economy.

•     Their plans for relocation or expansion are within the economic development goals of North Carolina and Currituck County.

•     This relocation or expansion will be competitive with another state or county.

•     They can show how this grant is necessary for their expansion in Currituck, North Carolina or relocation.

There are some additional guidelines that companies interested in expanding their current Currituck, North Carolina business or relocating to currituck co will need to adhere to, but the Currituck County Redevelopment Agency can work with these businesses to help them become and stay compliant for the grant program.

Structural Improvements - One North Carolina Fund

This is a one-time grant to Currituck, North Carolina companies that are considering expanding or businesses relocating to Currituck, North Carolina to make their business more competitive with other companies outside of North Carolina. For industries that are considered high quality, value added and knowledge-driven enterprises, this grant can create an opportunity to expand on their current physical location in Currituck, North Carolina and cover a significant portion of the following:

•     Purchasing and/or installing new equipment

•     Renovations to existing Currituck, North Carolina buildings including structural repairs or improvements

•     The improvement or construction of existing buildings that facilitates new or existing water, gas, sewer, or electrical distribution including lines or equipment.

There are additional program requirements including the agreement to an average wage test and Currituck County Economic Development Agency will work with the businesses to arrange matching funds from the county.

Housing – Community Development Block Grants

For developers considering low and moderate income housing in Currituck, North Carolina, The Department of Housing and Urban Development (HUD) provides, through the state of North Carolina, funding to enhance the vitality of communities through affordable housing. These block grants are primarily awarded to local governments in areas that are either cities with a population under 50,000 or counties with a population under 200,000. Currituck County falls easily within these parameters. Currituck, North Carolina projects are funded under the following categories:

•     North Carolina Catalyst – for the development of low and moderate income housing

•     Economic Development – for creating and retaining jobs

•     Scattered Site Housing –  for addressing critical needs of very low-income housing

•     Small Business Entrepreneurial Assistance – for struggling small local businesses

•     Neighborhood Stabilization – assisting repurchase and/or redevelop foreclosed homes

Since these funds are handled at the county and city level, the Currituck County Economic Development Agency will work directly with Currituck, North Carolina businesses interested in developing projects that fall under these block grants.

Other Opportunities

In addition to these larger business incentives programs, Currituck County Development Agency can assist Currituck, North Carolina businesses in discovering more about how custom workforce training programs through our local college and training facilities can help you meet your workforce needs. In addition, Currituck North Carolina offers several machinery and equipment tax credit programs as well as sales and use tax relief for those that qualify. 

These kinds of programs offer the chance for existing and new Currituck, North Carolina businesses to expand or relocate here in Currituck County, and can offset the investments it takes in both real and personal property. Currituck County Redevelopment Agency can help your business to find the program that will assist you the most to stay competitive, strong and growing here in beautiful Currituck County, North Carolina.

For more Contact:

Think Currituck 

P153 Courthouse Road, Suite 207

Currituck, NC 27929

Phone: 252-232-6015

http://www.thinkcurrituck.com/

Currituck County Rolls Out the Welcome Mat with Think Currituck

When it comes to businesses the welcome mat is out in Currituck County for both large and small innovative and traditional business models. The new Think Currituck program offers major industries such as aerospace or agriculture great tax incentives that make Currituck County business competitive for commerce.

For small innovative businesses such as alternative energy companies or organic wineries, the many small business programs along with the tax breaks from the area being unincorporated can be a big boost when starting up. The Albermarle Small Business Center offers one-on-one counseling along with innovative and industry-specific training and development opportunities. Small local Currituck County businesses can receive additional support through the Northeastern Workforce Development Board for on-the-job training grants.

But for businesses large and small alike, one of the main draws is that Currituck County remains unincorporated. This allows Currituck County businesses the opportunity to take advantage of the lowest tax burden in the Hampton Roads region. When combined with low unemployment compensation costs, and North Carolina’s small 6% state tax rate, Currituck County businesses find this is a truly cost effective location for any size enterprise.

The Currituck County Economic Development Department encourages job growth by strengthening and diversifying the local economy with a multi-faceted approach to ensure business success. By recruiting new industries while supporting the expansion of existing Currituck County businesses the Department seeks to bolster the County’s business climate for all of the many diverse Currituck County businesses.

For more information please, contact Currituck County Economic Development.
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