NC State Ports Authority

Document Sample
NC State Ports Authority Powered By Docstoc
					The Strategic Link to Successful
Global Distribution & Assembly
    Manufacturing Centers
       In North Carolina
  North Carolina:
      The Best
   Site Location
     for Global
Distribution Center
         &
     Assembly
  Manufacturing
     Expansion
   North Carolina chosen by
Site Selection magazine as top
   state for business climate
      for last 7 out of 8 years
                         The 10 Best Reasons for Locating
  Global Distribution & Manufacturing Facilities Near North Carolina
                               Ports
                        Comprehensive Sea/Air/Land Transportation Network
 The state offers a modern, efficient deepwater container port at Wilmington with expansion capacity at the future North
          Carolina International Terminal, and two breakbulk/bulk facilities at Wilmington and Morehead City, extensive
            highway system, five major airports (two with direct international air service), a 3,600-mile rail network.

                                    Low Tax Impact / Financial Incentives
North Carolina’s per capita state and local tax rates are among the lowest of the 50 states. Other financial incentives include
       NC Ports Tax Credit, Job Creation Tax Credits, Investment Tax Credits, Research & Development Credits, Free work
                                    force training, site enhancements, job development grants.


                                       Large and Productive Labor Force
                       Our Manufacturing work force of over 580,000 is one of the best in the nation.

                                           Work Force Training and
                                        Exceptional Education Facilities
   North Carolina’s nationally acclaimed community college system offers customized skill training to new and expanding
                                                 industries at little or no cost.

                                     Low Construction and Energy Costs
   North Carolina maintains efficient, economical utility services. Electric rates for industrial, commercial and residential
                                             customers are below national average.


                                          Excellent Labor Environment
 North Carolina is a right-to-work state, with the lowest unionization rate in the nation. North Carolina offers low workers’
                            compensation insurance rates, while providing some of the highest benefits.

                        Strategic Access to Major Global & Domestic Markets
                           North Carolina’s central east Coast location puts the state within a
700-mile/1,100 km radius of more than 170 million U.S. and Canadian consumers. NC Ports put North Carolina within reach
                                                          of the world.

                                   A Government that Works for Business
           State government enforces sound fiscal policy through a constitutionally mandated balanced budget.

                                    Professional Development Assistance
North Carolina Ports – Distribution Services & Economic Development Department, Business/Industry Development Division
        of the North Carolina Department of Commerce and seven regional economic development partnerships provide
                 personalized assistance in all phases of a prospective company’s relocation or expansion process

                                                A Great Place to Live
   North Carolina’s mild Sunbelt climate allows outdoor recreation at many of the nation’s finest golf courses, ski resorts,
     beaches, and at numerous state and national parks. Enjoy professional sports from the NFL, NHL, NBA to minor league
                                                             baseball.
    North Carolina’s Ports are Part of an
     Integrated Transportation Network




                                                          NCIT




            Highways                                       Ports
• Nation’s 2nd largest highway
  network with over 98,000 highway          • Modern, expanding deep-
  miles                                       water container port at
                                              Wilmington and NCIT(future)
• Seven Interstate highways
  including I-26, I-40, I-73, I-74, I-77,   • Two breakbulk/bulk facilities at
  I-85, I-95
                                              Wilmington and Morehead
                                              City
             Airports
• Five major airports (two with direct
                                            • Two inland terminals at
  international flights)                      Charlotte and Greensboro

• Global TransPark- multi-modal
  transportation park
                                                 Foreign Trade Zones
                 Rail
                                            •   NC Ports – Wilmington
                                            •   NC Ports – Morehead city
• Over 3,600 miles of track
                                            •   Global TransPark
                                            •   Charlotte
• Service by over 20 carriers
                                            •   Piedmont Triad
  including Norfolk Southern and
                                            •   Raleigh/Durham
  CSX Transportation
    North Carolina Ports’ Mid Atlantic Position Is Ideal
       to Support Access to U.S./Canada Markets
    and one of the Fastest Growing Regional Markets


      Market                                                                                                           95



    Accessibility
                                                                                                                            Boston

                                                                                        Buffalo
Within 700 miles/1,110              Milwaukee
                                                          Detroit
km of North Carolina’s
                                                                Cleveland                                     95   New York
    Borders Are:                            Chicago
                                    700 Miles                               Washington, DC

   170 million U.S. and            1,110 KM
                                                                 75               Richmond
    Canadian                 St. Louis        500 Miles         77
    consumers                                 800 KM    300 Miles                              85
                                                        500 KM
   65 of the country’s top 100
                                                                Nashville 40
    metropolitan areas                                                                Charlotte                  PORT OF
                                  Memphis                                                                40      MOREHEAD CITY
                                                                            85            77        74
   58.2% of total U.S. retail                                                                                PORT OF
                                                                                 20
    sales                                                              Atlanta            95                  WILMINGTON
                                                                                                    NCIT (FUTURE)
   Central East Coast                   Jackson
    location
                                                       Mobile
                                                                          75

                                                      New Orleans



         North Carolina Population Growth                                                      95


                                                                                                         Miami
    U.S. Census Bureau predicts by 2030, North
     Carolina will be the 7th most populous state
     (currently 10th).

    From 2000 to 2020, North Carolina’s population is
     expected to surge by 55%, increasing by an
     additional 4.4 million people, according to
     government projections.
   The At-Port of
     Wilmington
 Distribution Center
          &
      Assembly
   Manufacturing
        Model:

The Best Site Location
 for your Company’s
 Global Supply-chain
          Distribution Center Testimonials
"Since Furniture Brands International has several major Brands headquartered
in NC, i.e. Thomasville, Broyhill, Drexel Heritage, Henredon, the Port of
Wilmington is a vital link to our import containers from Asia. The Port of
Wilmington has positioned itself for tremendous growth in the future with recent
infrastructure improvements, excellent business development support, and
potential DC sites."
Davy Whittington
Director of Distribution/Logistics
Furniture Brands International

“Being located near a port, and the talented workforce and outstanding
community leaders are tremendous assets that add much value to our company
and make Wilmington an ideal location for our site”
Bill King, Wilmington Site Manager
INVISTA

“We’re close to I-95 and I-40, so we can get north, south, east or west.”
Jim Konneker, Plant Manager
Goodyear

“Community colleges in this region have a very good reputation and provide
industry with qualified candidates. Economic development efforts here are very
proactive, and it is a good location based on current trend of population shift
from North to South.”
Stodd McEwan, Director of Distribution
Champion USA, a Hanesbrands International brand

“The Port of Wilmington provides QVC with an alternative to the Port of Norfolk
for our all water east coast sailings from Asia. We currently have 2 weekly
sailings that call at the Port of Wilmington. Any expansion that would provide
additional sailings from Asia would give QVC additional container capacity.”
Dan McDermott, Vice President Supply Chain
QVC
NC Ports Is Supported by Superior East/West
     Interstate and Highway Capacity




        Wilmington’s east/west Highway Capacity is
    Superior to Hampton Roads, Charleston and Savannah

Supported by $229,036,000 in Highway improvements since 2004
           Traditional Distribution Model:
    Existing Distribution in North Carolina placed
      where Manufacturing Sites were located




•   More than 100 existing facilities in the North Carolina Corridor

•   All Facilities well-served via Port of Wilmington and the future North
    Carolina International Terminal

•   NC/SC/VA Distribution Center clients served by the Port of
    Wilmington
      Significant Impact of Distribution
         on the Global Supply Chain


"Companies that employ strong supply chain
competencies tend to have 7 to 26 percent higher
market capitalization than competitors who do not.
For such high cap enterprises in many a sector, a
reduction of even 5 percent in total distribution
cost can have the same impact on profit as a 30
percent increase in sales.”
           Karen E. Thuermer, Supply Chain Survival Guide, Part II,
                         World Trade Magazine, September 2008



The At-Port Distribution Model can provide up to
33% savings in inland delivery cost of goods.
                                    Source – Dr. Walter Kemmsies
                                                  Chief Economist
                                    Moffat & Nichol, March 2009
Benefits of At Port Distribution
   Can provide up to 33% savings in inland
   delivery cost of goods.
   Source – Dr. Walter Kemmsies, Chief Economist,
   Moffat & Nichol, March 2009
   •Container Carrier equipment returned promptly: greatly
    improves asset utilization for carriers

   •Eliminates/reduces container per diem charges to importer

   •Allows Container Carriers to deliver high volume of
    containers to one consolidated port location.

   •Reduces empty truck miles - environmental sustainability
NC Ports Launches At-Port of
  Wilmington DC Website




For the most current listing of sites and facilities available,
                   visit our website
At-Port of Wilmington Distribution Center
  Infrastructure Development Reaches
          Significant Milestones
       BPG Development’s Planned Near Port Facility
At-Port of Wilmington Distribution Center
  Infrastructure Development Reaches
          Significant Milestones
        BPG Development’s Planned Near Port Facility
  Site Development Grows Rapidly within
      At-Port of Wilmington DC Model
    International Logistics Park of North Carolina
          First Planned Distribution Park Has Significant Incentive Basis




• Site of Future 1,100 acre
  International Logistics Park of
  North Carolina

• Joint Two-County /Private
  Partnership Development
  provides highest benefit for
  Job Development Investment
  Grants and Tax Credits

• Facilities Available as early as
  2010

• Potential build out of
  approximately 8 million sq. ft.

• Land prices are a fraction of
  those at competing port
  locations.
Site Development Grows Rapidly within
    At-Port of Wilmington DC Model




       Mid-Atlantic Logistics Center
Site Development Grows Rapidly within
    At-Port of Wilmington DC Model




• Located only 10 miles from the Port of Wilmington

• 150 +/- buildable acres, with contiguous acreage for expansion of park

• U.S. Hwy 421 frontage, with only minutes to I-140, both leading to major east/west
 distribution corridors of I-40 and U.S. Hwy 74/to I-74, less than 10 minutes truck travel.
 One hour truck travel time to major north/south distribution corridor of I-95.
Site Development Grows Rapidly within
    At-Port of Wilmington DC Model
                Brunswick Industrial River Park




• 900± acres

• 9.7 miles from the Port of Wilmington

• Fast access to US Hwy 74/76, I-140, I-40, I-74 leading to I-95
                Comparison of Distribution
                    Facility Costs in the
              Mid to South Atlantic Port Range


 Buildings 100,000 square feet or Greater

 Area                               Sales Price Range   Lease Price Range

 Wilmington, NC Area                    $8-$22 per SF   $1.50-$3.80 per SF
 Savannah, GA Area                     $10-$25 per SF   $1.60-$4.25 per SF
 Charleston, SC Area                   $10-$37 per SF   $1.50-$4.25 per SF
 Hampton Roads, VA Area                $12-$40 per SF   $3.80-$4.65 per SF


  Industrial Sites
  Area                                              Average Asking Price


  Wilmington, NC Area                                   $45,000 per Acre
  Savannah, GA Area                                      $73,000 per Acre
  Charleston, SC Area                                    $85,000 per Acre
  Hampton Roads, VA Area                                 $79,000 per Acre

Source: October 2008 Survey NCSPA
North Carolina Ports
Expanding Container
   Cargo Services
   Infrastructure
          &
     Overview
  Wilmington’s Container Port Facilities…




Port of Wilmington
• Size – 284 Acres
• 225,000 TEU Annual Thruput Capacity
• 42-foot navigation channel (Deepened in 2004 – now same depth
   as the Port of Savannah, Ga.)
• 3 Berths, 8 Cranes including 4 new post-Panamax Cranes,
   Sidepick Operations
• Fast, Efficient:
        Vessel/Truck Turnaround
        Crane Productivity
        Gate Productivity
• NC Ports employees perform
  terminal operations
        …Are Expanding to Meet Demand
         Wilmington Container Terminal - $190 Million Expansion
Wilmington has experienced 15% CAGR in container thruput between 2005 and 2008




      Terminal Plan - December 2009



    •2650’ of Upgraded Berthing for Panamax and Post Panamax vessels
     (Berth 9 Complete, Berth 8 Improvements underway)
    •8 Cranes (Complete)
           •4 x 100’ Gauge
           •3 x 50’ Gauge
           •1 x 32’ Gauge
    •New Terminal Operating System (Complete)
    •100+ Acres of Container Storage (Scheduled for 2009)
    •On dock rail ICTF (Complete)

     Increases thruput capacity by 100% to total 500,000 Annual TEU
                   Port of Wilmington
              Sets Container Move Record

                As Printed in Seaports Press Review


Port of Wilmington Sets Container Move Record
Monday, November 2, 2009

(WILMINGTON, NC) - A record of 46.3 crane moves per hour set on the
Independent Accord at the Port of Wilmington on October 22 lasted less than a
week, when a new record of 46.8 crane moves was set on the Independent
Concept on October 29. The Wilmington container team includes Ports
Authority employees, the International Longshoremen's Association,
stevedoring management provided by SSA Marine and the shipping company,
Independent Container Line.

In a letter of congratulations to the Ports Authority crane team, SSA Cooper
vessel superintendant Tony R. Thompson wrote, "We're impressed by all of
your efforts on our behalf....Without your dedication and efficiency in
performing your various jobs we would not have been able to achieve a
production of this magnitude."

ICL executive vice president/COO Dale Ross added, "ICL is pleased with the
sustained growth in volume since moving to Wilmington. The support from
North Carolina shippers has been impressive and validates our decision to call
the Port of Wilmington." ICL began weekly container service between
Wilmington and the United Kingdom and Northern Europe in March 2009.

"The Port of Wilmington TEAM works relentlessly to deliver the highest quality
service at the lowest cost," said NC State Ports Authority Chief Operations
Officer Jeff Miles. "As a port community, we take great pride and satisfaction in
knowing that our best-in-class production contributes significantly to the
success of ICL in this market."

Miles added that container vessel operations at Wilmington for the Maersk Line
service to Central America and CKYH transpacific vessel calls October 23, 24
and 25, consistently averaged near 40 moves an hour.
North Carolina International Terminal
 Provides Future Growth Capacity




                • Greenfield Site
                • Purchased by NC Ports in April 2006
                • Funding and Planning underway
                • Minimum 4,000’ of berthing capability
                • 4 miles to open sea
                • Target operating channel depth of 52’
                • First phase complete by 2018
                • Full build-out in 2030
                • Projected multi-million annual TEU capacity
                • Will create 16,500+ jobs
                • Support 477,000 jobs statewide
                • Generate $1.1 billion in state/local revenues
    Regularly Scheduled Container Services at
     the Port of Wilmington, North Carolina

                                            West Bound       East Bound from       Vessel
              Frequency    Base Ports
                                           to Wilmington       Wilmington         Capacity

                Trans-      Liverpool         12 Days            15 Days          4 Ships at
               atlantic                                                           1,440 TEU
                Every                                                              Average
              Thursday      Antwerp           15 Days            11 Days           Capacity

                                            North Bound       South Bound          Vessel
              Frequency    Base Ports
                                           to Wilmington    from Wilmington       Capacity
                          Santo Tomas                                             2 Ships at
                SAE                            4 Days             8 Days
                           de Castilla                                            1,200 TEU
                Every
                                                                                   Average
               Friday     Puerto Cortes        5 Days             7 Days           Capacity

                                             East Bound        West Bound          Vessel
              Frequency    Base Ports
                                           to Wilmington    from Wilmington       Capacity
                             Pusan            24 Days            23 Days
                                                                                  8 Ships at
                AWH         Shanghai          26 Days            28 Days          4,500 TEU
                Every
                             Ningbo           28 Days            27 Days           Average
              Saturday
                                                                                   Capacity
                            Qingdao           29 Days            25 Days

                                             East Bound        West Bound          Vessel
              Frequency    Base Ports
                                           to Wilmington    from Wilmington       Capacity
                           Kaohsiung          30 Days            25 Days
                                                                                  8 Ships at
                AWY        Hong Kong          28 Days            26 Days          4,000 TEU
                Every
                            Yantian           27 Days            27 Days           Average
               Sunday
                                                                                   Capacity
                             Pusan            24 Days            30 Days




August 2009                               NC Ports Business and Economic Development Department
       NC Ports Showcases Environmentally
       "Greener" Port Ops and Sustainability




On Tuesday, September 22, 2009, the NC State Ports Authority showcased its commitment
to environmental stewardship, and greener and more environmentally-friendly operations at
the North Carolina Ports of Wilmington and Morehead City, and for the NC International
Terminal. A news conference and demonstrations at the Port of Wilmington featured some of
the latest technology for diesel emissions control.

Attendees got a firsthand look at the newest technology in diesel/electric hybrid terminal
tractors, the Pluggable Hybrid Electric Terminal Tractor (PHETT®), plus receive the latest
information about ongoing emissions control programs for the NC State Ports operating
equipment, including biodiesel fuel and biobased / biodegradable lubricants.

The Ports Authority has been working for several years to reduce its environmental footprint
by using ultra low sulfur diesel (USLD) as its primary off-road diesel fuel, transitioning to a
blend of 20% bio-product/80% USLD in port operating equipment and utilizing readily
biodegradable lubricants in the port equipment pool. These practices are estimated to reduce
overall diesel consumption by 20% annually. Estimated reduction for emissions of particulate
matter, hydrocarbons, carbon monoxide, carbon dioxide and sulfur dioxide are as much as
20%.

Three biodiesel storage tanks, funded through an NC Clean Air grant and Ports Authority
revenues, are being installed at the Ports of Wilmington and Morehead City. The Ports
Authority will also be retrofitting cargo handling equipment and machinery with diesel
emission control devises to reduce air emissions from a grant by the NC Department of
Environmental and Natural Resources. To complement its four electric 100-foot gauge
container cranes, the Authority will continue to explore grants to replace other specialized
cargo handling diesel equipment with all electric units.
   NC Ports and
North Carolina State
Financial Incentives
         &
 Economic Impact
     Overview
                  NC Ports Tax Credit Program
 Businesses who use the North Carolina State Ports at Morehead City and Wilmington
 and who are subject to payment of North Carolina income taxes can apply and qualify
 for a tax credit. The 2008 NC General Assembly extended the state income tax credit
 for customers of North Carolina’s Ports at Morehead City and Wilmington for five years.
 The 60-month extension is the lengthiest in the tax credit’s thirteen-year history.

 Tax Credit
 Application Example
A company imports or exports containers of products via carriers serving the Port of
Wilmington. The company has a corporate income tax liability to the state of NC.
During the current tax year, these shipments totaled 2,000 containers with an average
cargo weight of 30,000 lbs. per container. Tariff rates for container receiving and
wharfage are applied according to the Wilmington port tariff to determine the fees per
container for calculation of credit:
                Container Receiving Charge:                  $53.00
                Wharfage at $3.55 per 2,000 lbs.:            $53.25
                Total Fees Per Container:                   $106.25
                Total Yearly Fees (2,000 x $106.25):       $212,500

                              Wharfage & Handling Fees

                              2006       2007           2008
                              -0-         -0-          $212,500

                                                   Annual Certification of tax credit
                                                     application by NC Ports:
                                                          1995-1996    $470,657
       2008 Fees =           $212,500                     1996-1997   $1,004,954
       Divided By 3 Years = $ 70,833                      1997-1998    $920,908
                                                          1998-1999    $745,156
       2008 Fees Paid    $ 212,500                        1999-2000   $1,551,121
                                                          2000-2001    $382,416
       Less Average Fees $ 70,833                         2001-2002    $787,260
       Tax Credit        $ 141,667                        2002-2003    $427,648
                                                          2003-2004   $1,982,918
 Projected per container “value” = $70.83                 2004-2005    $307,156
                                                          2005-2006   $2,183,331
                                                          2006-2007    $417,721

 October 2008
                                NC State Tax Credit Program
In July, 2006, the NC General Assembly passed legislation (House Bill 2170)       2. The average wage of all full-time workers employed by the taxpayer at
that created a new tax credit program, Article 3J Credits. Article 3J provides        the establishment during the taxable year must meet or exceed the
three types of tax credits to eligible taxpayers that undertake qualifying            applicable wage standard of the county in which the establishment is
activities in North Carolina: 1) Credit for Creating Jobs, 2) Credit for              located.
Investing in Business Property, and 3) Credit for Investment in Real
Property (tier 1 only). These credits may be combined to offset up to 50%          3. The taxpayer must offer qualifying health insurance for all full- time
of the taxpayer’s state income and franchise tax liability, and unused                 positions at the establishment and pay at least fifty percent (50%) of
credits may be carried forward for up to five years (15-year carry- forwards           employee premiums.
apply to the Credit for Investing in Real Property and 20- year carry-
forwards exist for taxpayers that invest at least $150 million over a two-         4. The taxpayer must not have received any significant
year period).                                                                          environmental violations with the North Carolina Department of
                                                                                       Environment and Natural Resources within the prior five years.
 Article 3J Credits should not be confused with William S. Lee
 Credits. Although these tax credit programs are similar, they are not             5. The taxpayer must not have received any “willful” or “failure to abate”
 the same. Article 3J is not a revision to the Lee Act; it replaces the                serious OSHA violations at the establishment within the      prior three
 Lee Act. The distinction is subtle, but significant.                                  years.

 In general terms, Lee Credits are repealed for business activities                6. The taxpayer may not have overdue taxes.
 that occur on or after January 1, 2007 and Article 3J Credits take
                                                                                    Credit for Creating Jobs ( 105-129.87)
 effect for taxable years beginning on or after January 1, 2007.
                                                                                    Eligible taxpayers that meet a minimum threshold of new full-time
 However, taxpayers will have the option, after signing a letter of
                                                                                    jobs created during the taxable year may claim a credit for each
 commitment with the NC Department of Commerce, to utilize Lee
                                                                                    new job created. The credit is taken in equal installments over four
 Act Credits in place of Article 3J Credits for qualifying activity that
                                                                                    years following the year the jobs are created. The job threshold
 takes place at a specific site in 2007. If the taxpayer intends to claim
                                                                                    and the credit amount per job are determined by the tier
 Lee Credits for 2007 activity at more than one site, it must sign a
                                                                                    designation of the county in which the jobs are created.
 separate letter of commitment for each site. Taxpayers should
 carefully review and understand the differences between Lee
 Credits and Article 3J Credits before electing to claim Lee Act                                                     County Tier Designation
 Credits for 2007 activity                                                                                                                                    UPZ/AGZ
                                                                                                                 1                2                 3
 Letters of commitment must be submitted to the Department of
 Commerce prior to January 1, 2007.                                              Job Threshold                   5                10                15            5


County Tier Designations ( 143B-437.08)                                          Credit per Job              $12,500           $5,000           $750          +$1,000*
The Department of Commerce annually ranks the state’s 100
counties based on economic well-being and assigns a tier designation                                      *If the job is filled by a resident of the zone
to each. The 40 most distressed counties are designated as tier 1, the                                    or a long- term unemployed worker, add an
                                                                                                          additional $2,000.
next 40 are tier 2, and the 20 least distressed are tier 3. This tier
system is incorporated into various state programs, including Article
3J Credits, to encourage economic activity in the less prosperous                   Credit for Investing in Business Property ( 105-129.88)
areas of the state.                                                                 Eligible taxpayers may claim a credit based on a percentage of the
                                                                                    cost of capitalized tangible personal property that is placed in
                                                                                    service during the taxable year, in excess of an applicable
Urban Progress Zones (UPZ) and Agrarian Growth Zones (AGZ)                          threshold. This credit is taken in equal installments over four
Municipalities with a population of at least 10,000 have the ability to             years, beginning the year after the property is first placed in
define qualifying areas of poverty as Urban Progress Zones.                         service. The credit percentage and threshold are based on the tier
Counties that do not have a municipality with a population of at least              designation of the county where the property is placed in service.
10,000, have the ability to define qualifying areas of poverty as
Agrarian Growth Zones. Projects located within these zones receive
                                                                                                             County Tier Designation
enhanced Article 3J Credits.
                                                                                                                                                         UPZ/AGZ
                                                                                                         1             2                   3
Eligibility ( 105-129.83)
To qualify for Article 3J Credits, the following eligibility requirements
                                                                                   Threshold            $0        $1 million           $2 million           $0
must be met:
                       1. The primary activity at the business
                                                                                   Credit %            7%             5%                 3.5%               7%
                          establishment must be an eligible type of
                          business, which includes:                              Credit for Investment in Real Property ( 105-129.89)
                              aircraft maintenance and repair; air               Eligible taxpayers that invest at least $10 million in real property within a
                              courier services hub; company                      three-year period and create at least 200 new jobs within two years at an
                              headquarters that creates at least 75              establishment located in a tier 1 county are allowed a credit equal to 30%
                              new headquarters jobs; customer                    of the eligible real property investment. This credit is taken in equal
                              service call centers; electronic                   installments over seven years, beginning the year after the property is
                              shopping and mail order houses;                    used in an eligible business. To qualify for this credit, the taxpayer must
                              information technology and services;               obtain a written determination from the Department of Commerce.
                              manufacturing; motorsports facility;
                                                                                  This summary is not meant to be exhaustive. Taxpayers should review the Article 3
                              motorports racing team; research
                                                                                  statutes prior to claiming credits. Taxpayers that are uncertain about their eligibility
                              and development; warehousing; and                   or ineligibility to claim credits after reviewing the Article 3J statutes should consult
                              wholesale trade.                                    with the Department of Revenue. No application is required to claim Article 3J
                                                                                  credits.
             NC Ports Economic Impact

                        Milken Institute Review
   “Wilmington, North Carolina, is a new entrant into the upper echelon of
   performers, jumping from 59th in the previous index to 2nd for 2007. Unlike
   most areas of the country this year, Wilmington’s economy hasn’t lost much
   momentum. Port-related activity is booming after capacity was added with
   a new, deeper channel.”

   “Increased port activity was also a driver of economic growth. In
   Wilmington, North Carolina, port related activity contributed to growth in
   other sectors, such as business services and construction. The metro ranked
   2nd on the 2007 index, having improved from 59th in 2005. Investments in
   port infrastructure have led to improvements in cargo capacity, creating
   more opportunities for trade linkages and port-related business.”

    “Several factors support expanding international trade in Wilmington. First,
    the decline in the dollar has boosted export traffic through the port.
    Second, with increased imports from China and the rest of Asia, capacity
    constraints clog West Coast ports, prompting shippers to seek additional
    points of entry to U.S.”

    Best Performing Cities, September 2007


“Of all the economic activities a state can have, ports have the highest
multiplier. Every dollar spent importing or exporting through a port
adds $12 to state income.”
                                               -Jim Smith, UNC Chapel Hill economist
                                                   Business North Carolina, June 2005


         Ports are the backbone of international trade.
Deep draft ports accommodate ocean- going vessels which carry more
      than 99% of U.S. overseas trade by weight and 61% by value.
              Based upon information from US Department of Commerce
 NC Ports Economic Impact on the State




      North Carolina’s Port Operations
    support 85,000 jobs and $299 million
          in tax revenue annually

Calculation Based on a Standard Nationwide Model Developed by MARAD
 Totals may not add due to rounding. “Other” represents jobs which cannot be clearly assigned to one region.

				
DOCUMENT INFO