The North Carolina Green Industry Benefit
North Carolina is striving to cast itself as a national center for the Green Economy, and for very good reason. Studies by the NC State Energy Office, NCSEA and Appalachian Energy Center all confirm the staggering economic potential of the Green Industry sector to be one of North Carolina's best opportunities for growth. Investing in the green industry sector is a practical strategy for any corporation doing business in North Carolina.
By giving investors a 39% New Markets Tax Credit in addition to existing renewable energy incentives, an SECDC investment provides high ROI without reliance on lucrative power purchasing agreements or REC sales. This provides the flexibility to build in areas that have low energy prices and use North Carolina companies that may not have the economy of scale pricing of foreign firms, while still providing higher ROI than conventional green energy investments. This focus on North Carolina green sector industries gives them the opportunity to build efficiency of scale, gain market share and makes North Carolina more attractive to other green sector companies.
"The green economy is today's growth economy. Since our current economic recession officially began in late 2007, unemployment in North Carolina is over 10% statewide with some county rates in excess of 15%. However, there is an exception to this trend - the green energy sector. With over 2,200 new jobs announced, 40% of which are permanent manufacturing or operations jobs, and nearly $800 million in private investment, green energy is a bright spot in this dim economic time."
- NC Economic Developers Guide, Spring 2009
1,300 North Carolina firms identified as having technical potential to manufacture green energy components.
- UNC Greensboro study
2,660 new jobs in green energy created in North Carolina in 2009, up 24% from 2008
Simply Smart Business.
North Carolina Green Industry investment.
