Partners in Research and TrainingPartners in Research and Training
March 1, 2007
BUSINESS PLANNING & TECHNOLOGY DEVELOPMENT
Wake County, the city of Raleigh, and the Research Triangle region of North Carolina offer significant growth opportunities for medical device companies locating facilities in the region. The area boasts multiple major research universities, including North Carolina State, University of North Carolina-Chapel Hill, and Duke University. In addition to access to faculty, staff, and millions of dollars worth of equipment and facilities, qualified research and development expenditures with the universities may entitle a company to a tax credit of 15% of eligible expenses.
For medical device manufacturers, the State of North Carolina offers tax credits for job creation, investment in machinery and equipment, and worker training. For large projects with significant job creation, the state has developed a job development investment grant program.
Equally important, the North Carolina community college system is seen as the model for statewide training programs. Industry experts can be retained to train a manufacturer's new employees based on programs developed in partnership with the company. This fully customizable free training by industry experts is touted as one of the region's strongest site-selection incentives.
Likewise, local communities consider providing incentives to companies based on the size of investment and quality of jobs a project will create. Each incentive is decided based on the merits of the project.
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