Stokes County Today

*Stokes County Today*
Population Income Agriculture Commerce Industry Business Assistance	Retail Sales Employment Education Transportation

The Original Hard Rock Cafe In the 1950s and 1960s Stokes County recovered from the Depression era, with road paving, new schools and a booming economy. U.S. Highway 52, a four-lane highway, was constructed through southwestern Stokes.

Today, Stokes County encompasses approximately 458 square miles. Nestled in the foothills of the Blue Ridge Mountains, Stokes County is the 36th fastest growing of the 100 North Carolina counties (1990-2000).

The City of King, Stokes County's largest municipality, lies along U.S. Highway 52, soon to become I-74. Danbury, the county seat, is the smallest municipality in Stokes. In contrast to King, its streets are lined with historic homes and government buildings. Walnut Cove, in southeastern Stokes, developed in part because of the railroad and today a thriving municipality that boasts small businesses along Main Street and a friendly, small town atmosphere.

Because of the varied topography, elevations in the County range from 800 to 2,500 feet above sea level. The climate is mild with a yearly rainfall average of 42.31 inches and an average snowfall of 8.6 inches.

Being located adjacent to both Forsyth, Surry and Rockingham Counties, residents have ready access to major shopping centers, industrial opportunities, and cultural and entertainment, while at the same time being afforded the luxury of “country living”.

Stokes County has a way about it that makes living here a pleasurable experience. It is not just the slower paced rural life or the natural beauty the Sauratown Mountains and surrounding landscape offers - there is that. It has more to do with the people whose families have lived here for generations. Stokes County citizens seem to share a spirit of neighborliness and generosity that is in short supply in other parts of the world.

Population

The United States Census Bureau conducts the decennial census. The decennial census occurs every 10 years, in the years ending in "0," to count the population and housing units for the entire United States. Its primary purpose is to provide the population counts that determine how seats in the U.S. House of Representatives are apportioned. Census figures also are required to draw congressional and state legislative district boundaries, to allocate federal and state funds, to formulate public policy, and to assist with planning and decision-making in the private sector.

Additional population and economic information can be retrieved from the United States Census Bureau website and the United States Department of Commerce website.

Profile of General Demographic Characteristics of Stokes County 2000 - Source: 2000 U.S. Census Bureau, Summary File 1

	North Carolina		Greensboro/ Winston-Salem/ High Point MSA		Stokes County
Population Demographics		% Change		% Change		% Change
	2000 Census	1990 to 2000	2000 Census	1990 to 2000	2000 Census	1990 to 2000
Total Population	8,049,313	21.40%	1,251,504	19.20%	44,711	20.10%
Population Density (Pop/Sq Mi)	162.9	21.40%	319.1	19.20%	98.3	20.10%
Total Households	3,132,013	24.40%	498,752	20.20%	17,579	24.50%

Population by Gender
Male	3,942,695	22.70%	604,294	20.40%	21,906	19.90%
Female	4,106,618	20.30%	647,210	18.00%	22,805	20.40%

Population by Race/Ethnicity		% Change		% Change		% Change
	2000 Census	1990 to 2000	2000 Census	1990 to 2000	2000 Census	1990 to 2000
White	5,804,656	15.90%	931,602	11.70%	41,774	19.70%
Black	1,737,545	19.30%	252,689	24.40%	2,084	0.70%
American Indian or Alaska Native	99,551	24.20%	4,703	34.40%	109	109.60%
Asian/Pacific Islander	117,672	125.70%	17,259	151.60%	109	38.00%
Some Other Race	186,629	492.40%	30,040	1044.70%	393	270.80%
Two or More Races	103,260		15,211		242

Hispanic Ethnicity	378,963	393.90%	62,211	694.60%	836	229.10%
Not Hispanic or Latino	7,670,350	17.10%	1,189,294	14.10%	43,875	18.70%

Population by Age		% Change		% Change		% Change
	2000 Census	1990 to 2000	2000 Census	1990 to 2000	2000 Census	1990 to 2000
0 to 4	539,509	17.60%	82,677	19.80%	2,945	24.60%
5 to 13	1,007,600	27.10%	155,140	31.80%	5,633	26.60%
14 to 17	416,938	17.60%	62,890	17.50%	2,372	4.90%
18 to 24	806,821	3.30%	118,746	-0.50%	3,280	-12.40%
25 to 34	1,213,415	6.10%	186,592	3.20%	6,401	2.30%
35 to 44	1,287,120	32.80%	202,009	27.70%	7,619	30.70%
45 to 54	1,085,150	65.80%	172,576	56.40%	6,530	51.50%
55 to 64	723,712	27.50%	114,580	20.60%	4,653	47.70%
65 to 74	533,777	12.20%	84,999	11.50%	2,898	18.60%
75 to 84	329,810	36.70%	53,282	34.30%	1,772	31.70%
85+	111,440	59.30%	18,997	55.00%	644	63.00%

Total Population	35	10.40%	36	7.30%	37	12.90%

Households by Income		% Change		% Change		% Change
	2000 Census	1990 to 2000	2000 Census	1990 to 2000	2000 Census	1990 to 2000
$0 - $15,000	529,893	2.50%	74,731	2.60%	2,653	4.90%
$15,000 - $24,999	431,701	-16.40%	67,936	-17.70%	2,719	-5.60%
$25,000 - $34,999	435,975	-2.70%	69,230	-7.00%	2,546	-2.10%
$35,000 - $49,999	553,041	-14.70%	89,068	-22.20%	3,419	-24.20%
$50,000 - $74,999	608,777	39.60%	102,098	24.70%	3,842	70.90%
$75,000 - $99,999	279,020	284.10%	46,925	246.00%	1,483	317.90%
$100,000 - $149,999	188,621	958.60%	31,162	728.60%	642	1306.50%
$150,000 +	106,254	413.60%	17,862	276.60%	273	309.00%

Average Hhld Income	$51,245	54.10%	$53,028	44.30%	$45,208	43.20%
Median Hhld Income	$39,257	47.10%	$41,018	35.30%	$38,820	38.60%
Per Capita Income	$19,940	58.00%	$21,176	46.30%	$17,775	48.40%

Employment and Business		% Change		% Change		% Change
	2000 Census	1990 to 2000	2000 Census	1990 to 2000	2000 Census	1990 to 2000
Age 16 + Population	6,291,182	20.90%	981,817	17.20%	34,933	19.30%
Employed	3,824,741	18.00%	631,077	12.80%	22,239	16.40%
Unemployed	214,991	32.20%	31,281	29.40%	1,383	46.00%
In Armed Forces	90,847	-23.40%	408	-47.60%	7	-84.10%
Not In Labor Force	2,160,039	145.50%	319,346	161.80%	11,309	157.00%

Housing Units		% Change		% Change		% Change
	2000 Census	1990 to 2000	2000 Census	1990 to 2000	2000 Census	1990 to 2000
Total Housing Units	3,523,944	25.00%	535,841	20.60%	19,262	27.10%
Owner Occupied	2,172,355	26.90%	342,563	21.90%	14,431	26.20%
Renter Occupied	959,658	19.20%	156,189	16.80%	3,148	17.20%
Vacant	391,931	30.10%	37,088	25.60%	1,683	62.30%

Vehicles Available		% Change		% Change		% Change
	2000 Census	1990 to 2000	2000 Census	1990 to 2000	2000 Census	1990 to 2000
Avg Vehicles Per Hhld	1.81	1.10%	1.84	-2.00%	2.12	-2.30%
0 Vehicles Available	235,339	-2.40%	35,708	-1.60%	955	0.00%
1 Vehicle Available	1,010,563	28.80%	159,798	29.10%	4,279	40.80%
2+ Vehicles Available	1,886,111	26.60%	303,246	19.10%	12,345	21.80%

Marital Status		% Change		% Change		% Change
	2000 Census	1990 to 2000	2000 Census	1990 to 2000	2000 Census	1990 to 2000
Age 15 + Population	6,395,884	20.80%	997,483	17.20%	35,513	19.10%
Married	3,388,479	13.70%	534,555	11.40%	22,164	15.50%
Divorced	576,718	48.90%	94,753	40.30%	3,281	69.00%
Never Married	1,595,469	19.90%	242,063	15.10%	5,805	1.50%
Separated	400,742	120.00%	59,066	113.30%	1,903	140.30%
Widowed	432,299	4.60%	66,736	1.70%	2,340	7.40%

Educational Attainment		% Change		% Change		% Change
	2000 Census	1990 to 2000	2000 Census	1990 to 2000	2000 Census	1990 to 2000
Age 25 + Population	5,278,445	28.80%	832,051	24.30%	30,481	29.00%
Grade K - 9	413,495	-14.20%	61,634	-12.90%	2,930	-20.90%
Grade 9 - 12	655,124	18.20%	103,339	19.10%	4,853	39.30%
High School Graduate	1,502,978	22.20%	245,414	18.60%	12,269	27.40%
Some College, No Degree	1,080,504	90.50%	166,325	84.20%	5,259	194.40%
Associates Degree	358,075	50.90%	52,115	45.70%	2,016	90.70%
Bachelor's Degree	808,070	100.60%	133,295	85.10%	2,149	117.00%
Graduate Degree	378,643	110.50%	57,358	94.80%	697	156.60%

Stokes County Communities

	Danbury		King		Walnut Cove
Population Demographics		% Change		% Change		% Change
	2000 Census	1990 to 2000	2000 Census	1990 to 2000	2000 Census	1990 to 2000
Total Population	108	25.40%	5,952	21.10%	1,465	10.90%
Population Density (Pop/Sq Mi)	170.5	25.40%	1,141.30	21.10%	608.5	10.90%
Total Households	47	24.40%	2,303	25.60%	585	14.10%

Population by Gender
Male	53	27.40%	2,863	19.20%	681	10.20%
Female	55	23.50%	3,090	22.90%	784	11.50%

Population by Race/Ethnicity		% Change		% Change		% Change
	2000 Census	1990 to 2000	2000 Census	1990 to 2000	2000 Census	1990 to 2000
White	104	23.90%	5,783	19.50%	1,250	10.50%
Black	2	225.00%	75	70.00%	193	6.10%
American Indian or Alaska Native	0	-75.00%	12	76.70%	3	7.00%
Asian/Pacific Islander	0	-60.00%	29	57.70%	3	35.00%
Some Other Race	1	300.00%	18	308.10%	8	98.70%
Two or More Races	1		36		9

Hispanic Ethnicity	1	11.80%	102	302.80%	13	40.90%
Not Hispanic or Latino	107	25.60%	5,850	19.70%	1,452	10.70%

Population by Age		% Change		% Change		% Change
	2000 Census	1990 to 2000	2000 Census	1990 to 2000	2000 Census	1990 to 2000
0 to 4	6	22.60%	398	21.10%	88	9.90%
5 to 13	13	27.10%	735	24.40%	168	10.80%
14 to 17	5	-22.40%	311	4.50%	74	7.70%
18 to 24	8	-1.70%	374	-22.70%	97	-21.40%
25 to 34	15	8.20%	846	-0.40%	190	-8.10%
35 to 44	18	25.70%	1,055	24.40%	219	12.20%
45 to 54	17	88.80%	870	52.10%	199	35.70%
55 to 64	11	27.30%	593	46.00%	160	23.30%
65 to 74	8	41.30%	423	52.10%	125	13.90%
75 to 84	4	44.40%	254	92.10%	99	56.90%
85+	4	444.40%	99	158.40%	48	51.70%

Total Population	39	14.20%	38	13.50%	40	12.70%

Households by Income		% Change		% Change		% Change
	2000 Census	1990 to 2000	2000 Census	1990 to 2000	2000 Census	1990 to 2000
$0 - $15,000	8	15.70%	281	19.70%	125	-10.40%
$15,000 - $24,999	4	-47.30%	317	-2.40%	113	21.30%
$25,000 - $34,999	8	32.80%	245	-21.00%	68	-22.80%
$35,000 - $49,999	12	33.70%	351	-46.30%	103	-39.20%
$50,000 - $74,999	8	48.60%	570	0.60%	101	107.30%
$75,000 - $99,999	3	113.30%	329	493.90%	62	201.40%
$100,000 - $149,999	2	N/A	144	1707.10%	6	1146.90%
$150,000 +	1	450.00%	68	163.40%	4	450.20%

Average Hhld Income	$46,421	53.70%	$54,143	39.90%	$39,489	39.50%
Median Hhld Income	$38,101	52.80%	$48,324	45.20%	$32,962	40.60%
Per Capita Income	$17,201	52.50%	$21,510	45.50%	$15,676	43.10%

Employment and Business		% Change		% Change		% Change
	2000 Census	1990 to 2000	2000 Census	1990 to 2000	2000 Census	1990 to 2000
Age 16 + Population	87	28.00%	4,683	21.80%	1,170	10.80%
Employed	248	517.90%	2,973	13.30%	942	46.80%
Unemployed	15	543.50%	129	24.20%	132	349.60%
In Armed Forces	0	N/A	6	-46.80%	0	-100.00%
Not In Labor Force	154	932.20%	1,397	181.50%	631	179.60%

Housing Units		% Change		% Change		% Change
	2000 Census	1990 to 2000	2000 Census	1990 to 2000	2000 Census	1990 to 2000
Total Housing Units	58	33.70%	2,441	27.90%	627	14.50%
Owner Occupied	39	24.50%	1,880	28.80%	442	14.00%
Renter Occupied	8	24.10%	423	13.10%	143	14.30%
Vacant	11	100.00%	138	87.50%	42	19.80%

Vehicles Available		% Change		% Change		% Change
	2000 Census	1990 to 2000	2000 Census	1990 to 2000	2000 Census	1990 to 2000
Avg Vehicles Per Hhld	2.22	-6.30%	1.94	-9.60%	2.03	4.20%
0 Vehicles Available	2	-13.30%	122	-6.70%	47	0.60%
1 Vehicle Available	12	125.40%	628	40.60%	164	3.90%
2+ Vehicles Available	33	9.70%	1,548	23.00%	372	20.50%

Marital Status		% Change		% Change		% Change
	2000 Census	1990 to 2000	2000 Census	1990 to 2000	2000 Census	1990 to 2000
Age 15 + Population	88	26.20%	4,744	20.70%	1,191	11.30%
Married	47	2.70%	2,956	15.30%	616	-2.20%
Divorced	9	179.50%	474	64.90%	127	75.50%
Never Married	16	11.70%	615	-15.40%	214	-2.40%
Separated	8	418.20%	277	192.10%	103	188.10%
Widowed	8	65.10%	326	28.00%	116	2.20%

Educational Attainment		% Change		% Change		% Change
	2000 Census	1990 to 2000	2000 Census	1990 to 2000	2000 Census	1990 to 2000
Age 25 + Population	76	40.00%	4,134	33.00%	1,038	17.80%
Grade K - 9	12	9.20%	263	-0.70%	104	-46.50%
Grade 9 - 12	12	-5.70%	411	2.60%	181	74.10%
High School Graduate	29	52.30%	1,558	13.30%	433	27.80%
Some College, No Degree	12	428.90%	867	200.60%	148	148.40%
Associates Degree	3	511.10%	309	41.00%	51	71.40%
Bachelor's Degree	5	85.20%	501	172.50%	72	116.50%
Graduate Degree	2	147.10%	192	357.70%	21	93.90%

Population Estimates and Projections

The State Demographics unit is primarily responsible for producing population estimates and projections. The annual estimates of the population of North Carolina counties and municipalities are used in the distribution of state shared revenues to local governments. County and state population projections, available by age, race (white/other) and sex, are used for long range planning.

Estimates

Population Estimate for July 2004
Stokes County	45,887
City of King	6,105
Town of Walnut Cove	1,523
Town of Danbury	107

Projections

2000 Population	2010 Population	% Growth	Births	Deaths	Natural Growth	Net Migration
44,711	48,753	9.0	5,020	4,080	940	3,102
2010 Population	2020 Population	% Growth	Births	Deaths	Natural Growth	Net Migration
48,753	53,582	9.9	5,331	4,578	753	4,076

Income

The FY 2001 Median Family Income estimates are prepared by The United States Department of Housing and Urban (HUD) based primarily on 1990 Census median family income estimates updated to 2001 using a combination of Bureau of Labor Statistics earnings and employment data and Census Divisional P-60 median family income data. Figures shown below are for a family of four.

HUD median family income estimates are also available at the Department's web site which provides a menu from which you may select the year and type of data of interest

Year	State of North Carolina	Greensboro/ Winston-Salem/ High Point MSA	Stokes County	Stokes County's Median Household Income
1996	$39,100	$42,200	$40,673	--
1997	$40,600	$43,500	$42,147	$35,618
1998	$42,200	$45,500	$43,621	$37,991
1999	$46,000	$49,300	$44,416	$38,504
2000	$48,000	$51,000	$45,948	$40,623
2001	$50,200	$53,100	*	$40,401
2002	$53,400	$56,100	*	$40,798
2003	$53,000	$55,500	*	$41,496
2004	$53,000	$55,500	*	**
2005	$52,600	$55,500	*	**

*Stokes County is part of the Greensboro/Winston-Salem/High Point MSA and HUD no longer calculates MFI lower than the MSA level.

**Figures not yet released.

The Bureau of Economic Analysis prepares Per Capita Personal Income figures at the national state and local level. The latest figures available for this region are as follows:

Year	State of North Carolina	Greensboro/Winston-Salem/ High Point MSA	Stokes County
1997	$23,468	$25,318	$19,712
1998	$24,661	$26,716	$20,464
1999	$25,302	$27,237	$21,284
2000	$26,882	$28,522	$22,429
2001	$27,308	$28,774	$22,434
2002	$27,785	$28,508	$23,040
2003	$28,071	$28,940	$23,581

Agriculture

The North Carolina Department of Agriculture and Consumer Services publishes annual county statistics for selected crops, livestock, poultry, dairy, and cash receipts. Census of Agriculture statistics are compiled by the United States Department of Commerce and are published every five years. Counties not harvesting more than 20 acres of tobacco, 50 acres of peanuts, and 200 acres of all other crops were not published and are designated by an asterisk (*). Also not published were counties with fewer than 1,000 hogs or 500 total cattle, 200 beef or milk cows, 500,000 broilers or turkeys, or 50,000 other chickens.

Census of Agriculture - 2002
Number of Farms	934
Total Land in Farms, Acres	107,358
Average Farm Size, Acres	115
Harvested Cropland, Acres	20,870
Average Age of Farmers	54
Average Value of Farm and Buildings	$349,876
Average Market Value of All Machinery & Equipment	$44,065
Average Farm Production Expenses	$18,894

CROPS - 2003	Acres Harvested	Yield	Production	Rank Within State
Tobacco, lbs.	3,315	1,380	4,574,000	23
Cotton, 480 lb. bales	*	*	*	*
Soybeans, Bu.	600	32	19,000	74
Corn, Bu.	700	86	60,000	73
Corn for Silage, Tons	*	*	*	*
Peanuts, lbs.	*	*	*	*
Small Grains:
Wheat, Bu. Barley, Bu. Oats, Bu.	700 * *	36 * *	25,000 * *	70 * *
Sweet potatoes, Cwt.	*	*	*	*
Irish Potatoes, Cwt.	*	*	*	*
All Hay, Tons	13,800	2.27	31,300	24
Sorghum, Bu.	*	*	*	*

LIVESTOCK	Number	Rank within State
Hogs and Pigs (Dec. 1, 2003)	3,200	57
Cattle (Jan. 1, 2004)	11,500	26
Beef Cows (Jan. 1, 2004)	5,200	29
Milk Cows (Jan. 1, 2004)	*	*
Broilers Produced (2003)	*	*
Turkeys Raised (2003)	*	*
All Chickens (Dec. 1, 2003)	*	*

CASH RECEIPTS - 2002	Dollars	Rank within State
Livestock	$5,362,000	73
Crops	$16,451,000	58
Government Payments	$195,000	83
Total	$22,008,000	74

Commerce

KOBE Wieland Copper Products, Stokes County's largest private employer, announces a multi-million dollar investment program in new machinery and equipment, creating 40-60 new jobs.

Luwa Mechanical Systems, a division of the Zellweger Luwa Group, will open it’s new pipe fabrication facility in June 2004 at the Stokes County Business Park in King. The company is expected to create over 20 new jobs over the next two years.

Granite Development, LLC begins the development of Moser Farm, a 178 acre commercial and residential development that will include a shopping center, 317 homes, pool, clubhouse, day care and 57 acres of green space with over miles of hiking and bicycle trails.

Over the past ten years, the County has been very successful in diversifying its economy through economic development efforts, significant developments include:

2005	§ PetRefresh acquires a 23 acre site in Stokes County from which they will be constructing a water intake to capture, filter and bottle the only water available today that is specifically designed for the daily hydration needs of pets. Not a treat, but a core nutrient for better health.
2004	§ Luwa Industrial Piping, Inc., creating 20 jobs over two years.
	§ Granite Development, LLC announces Moser Farm, a 178 acre commercial and residential development that will include a shopping center, 317 homes, pool, clubhouse, day care and 57 acres of green space with over miles of hiking and bicycle trails.
2003	§ Parks & Woolson Machine Company, Inc. from Springfield, Vermont occupies space in the McDonald Building in April 2003, creating 30 jobs over the next two years.
	§ Rural Internet Access Authority awards $200,000.00 grant to Sprint to expand DSL service into Quaker Gap area of Stokes County.
	§ Stokes County Economic Development and the Stokes County Schools are awarded a $62,000.00 grant from the Rural Internet Access Authority to develop Distance Learning Centers at North and South Stokes High Schools.
	§ USA Attachments, Inc. occupies 8,000 sf of space on Charles Road in February 2003, creating 12 jobs.
2002	§ Stokes County Economic Development is awarded a $12,000.00 grant from the Rural Internet Access Authority to expand high-speed, public access computers at the King, Walnut Cove and Danbury Libraries.
2001	§ The Stokes County Development Corporation, Inc. and a private developer complete construction of a 20,000 sf speculative industrial building in September 2001.
	§ Lyon Construction Company announced plans to construct, and relocate to, a new 10,000 square foot headquarters facility in Stokes County, Summer 2001.
	§ Triad Builders of King expanded their headquarters location in King in the Spring of 2001.
	§ JT Outfitters.com relocated to an existing 35,000 square foot facility in December 2000 with 10 employees.
2000	§ US Highway 52 is designated as a portion of the new I-74 corridor. Improvements to the existing four-lane divided highway are planned for 2005.
	§ Development of Mountain View Medical Park by Novant Health.
	§ Construction of a 30,000 square foot Stokes Family YMCA at a cost of approximately $2,500,000.
	§ Construction of a 50,000 square foot Stokes Medical Park facility by North Carolina Baptist Hospitals, Inc. at a cost of approximately $5,000,000 resulted in 50 new jobs.
1998	§ A Visitors Center at Hanging Rock State Park at a cost of approximately $4,000,000.
	§ Development of Mountain View Medical Park by Novant Health.
1997	§ Construction of a 30,000 square foot Stokes Family YMCA at a cost of approximately $2,500,000.
1996	§ Construction of a 50,000 square foot Stokes Medical Park facility by North Carolina Baptist Hospitals, Inc. at a cost of approximately $5,000,000 resulted in 50 new jobs.

Industry

The major employers in Stokes County are:

Camel City Poster 428 Newsome Rd King , NC 27021-8509 336.9834986 Mike Anderson, Sales Exec 275202 Printers		Carolina Medical Inc PO Box 307 King , NC 27021-0307 336.9835132 Carroll Turner, President 384104 Physicians & Surgeons Equip & Mfrs
Dudco Construction PO Box 464 Germanton , NC 27019-0464 336.591.5656 Tammy Dudney, Owner 152103 General Contractors		Duke Energy 3195 Pine Hall Rd Belews Creek , NC 27009-9157 336.427.0274 Tom Guthrie, Plant Mgr 491101 Electric Companies
Factory Screen Works PO Box 2424 King , NC 27021-2424 336.985.3862 Tommy Gupton, Manager 275902 Screen Printing		Hanks Lumber Co PO Box 99 Danbury , NC 27016-0099 336.593.2022 Bill Hanks, Owner 242101 Lumber-Manufacturers
Imperial Vault Co PO Box 950 King , NC 27021-0950 336.983.6343 Nancy Carter, Owner 327209 Concrete Prods (Mfrs)		King International Corp PO Box 1009 King , NC 27021-1009 336.9835171 Vicki Brown, Finance Exec 275902 Screen Printing
King Milling Co PO Box 414 King , NC 27021-0414 336.9835081 Ralph Naylor, Owner 204101 Flour Mills		KOBE Wieland Copper Prod LLC PO Box 160 Pine Hall , NC 27042-0160 336.427.6611 Steffen Sigloch 505121 Copper Products (Wholesale)
Luwa Industrial Piping 502 Newsome Road King , NC 27021 336.983.0385 Frank Ring, Plant Mgr		Marshall Brothers Construction 661 Moser Rd King , NC 27021-8053 336.983.8106 Darrell Marshal, Owner 152103 General Contractors
Merfin Systems, Inc. 105 Industrial Drive King , NC 27021 336.983.4545 John Knox		Mitchells Meat Processing Co PO Box 62 Walnut Cove, NC 27052-0062 336.591.7420 Jerry Mitchell, Manager 201101 Meat Packers
Pro-Tech 127 Plant St Walnut Cove, NC 27052-9223 336.591.5287 Terry L Beck, Owner 737403 Computer Bulletin Boards		R J Reynolds Tobacco Co Brook Cove Rd Walnut Cove, NC 27052 336.591.4630 Marshall Crews, Manager 599301 Cigar Cigarette & Tobacco Dealers-Retail
S & H Lumber Co PO Box 933 Walnut Cove, NC 27052-0933 336.591.7990 Bobby Hester, Owner 242102 Sawmills		S & K Poultry PO Box 283 King , NC 27021-0283 336.983.3697 Anna Keiger, Owner 514404 Poultry-Wholesale
Steel Fabrication & Machine Co 7770 Dennis Rd Walnut Cove, NC 27052-9534 336.593.5353 Steve Clark, President 331298 Steel Works/Blast Furnaces/Rolling Mls		Stevens Roofing Systems 1535 Elastic Plant Rd Westfield , NC 27053-8242 336.351.3131 Linda Agee, Purchasing Agent 521114 Roofing Materials
Stokes Family Health Center PO Box 187 Danbury , NC 27016-0187 336.593.2400 Nancy Graspon, Manager 806202 Hospitals		Wayne Poultry-North Carolina 3083 NC Highway 268 Pinnacle , NC 27043 336.366.2283 Steve Flippin, Finance Exec 514402 Poultry Services (Wholesale)
Wexler Textiles LTD 144 Charles Rd King , NC 27021-8247 336.985.2616 Cara Irvine, Manager 513106 Textiles-Wholesale

Business Assistance Programs

State Programs || Local Programs || International Trade Services
Customized Training || JobReady Program
Forsyth Technical Community College || Workforce Development Board
Tax Credit Eligibility Requirements

STATE-WIDE PROGRAMS
Back to Business Assistance Programs Menu

The state's COMMERCE FINANCE CENTER (CFC) serves as a "one‑stop" financial center for relocating companies and existing employers needing information and advice on financing alternatives in North Carolina. The WILLIAM S. LEE ACT, enacted in 1996 and amended in 1998, provides tax credits that may be taken against state income; franchise or gross premiums tax burdens. These credits are for job creation, investment, worker training, and research and development in any of the state's 100 counties, though benefit levels are calculated based upon a county's level of economic distress. Counties are assigned a "Tier" ranking that ranges (poorest to wealthiest) from 1‑5. Stokes County is ranked as Tier 3.

Job Creation Tax Credit:

$3,000.00 for each new job (minimum of 5) created paying wages 110 percent of the applicable weekly wage standard for Stokes County. ($515.00)
Credits are to be taken in equal installments over 4 years.

Investment Tax Credit:

6 percent of the purchase, or lease cost of new machinery and equipment, above an investment threshold of $200,000.00.

Worker Training Tax Credit:

A taxpayer providing training for 5 or more eligible employees is allowed a credit equal to wages paid that employee during the training. Credit per employee trained cannot exceed $500 during the tax year.

R&D Tax Credit:

5 percent of state’s apportioned share of expenditures.

Industrial Revenue Bonds: Industrial Revenue Bonds (IRBs) or Industrial Development Bonds may be used by companies engaged in some type of manufacturing for the acquisition of real estate, facility construction, and/or equipment purchase. IRBs fall under three issuance types: Tax Exempt, Taxable, and Pollution Control/Solid Waste Disposal Bonds. Regulations governing bond issuance are a combination of federal regulations and North Carolina statutes. The amount each state may issue annually is designated by population.

North Carolina Small Cities Community Development Block Grant Program: These grants may be obtained by local governments (municipal and county) to be used for projects involving a specific business that will create new jobs. With a participating bank, loans may be made to private businesses to fund items such as machinery and equipment, property acquisition, or construction. Assisted project activities must benefit persons (60% or more) who were previously (most recent 12 months) in a low or moderate family income status.

Industrial Development Fund: The Industrial Development Fund (IDF) assists municipal or county governments with financing for industries eligible through the William S. Lee Act in areas of the State designated as Tier I, II, and III areas. The amount funded depends on the number of new; full-time jobs created and may be used by local units of government for infrastructure improvement (in the form of grants) or for building renovation and equipment (in the form of loans). The fund may not be used for acquiring land or buildings or for constructing new facilities.

One North Carolina Fund: The One North Carolina Fund may provide financial assistance to those businesses or industries deemed by the Governor to be vital to a healthy and growing State economy and are making significant efforts to expand in North Carolina. The fund is a competitive fund and the location or expansion must be in competition with another location outside of North Carolina. Criteria for the program are available through the NC Department of Commerce Finance Center.

Job Development Investment Grant: This discretionary incentive may provide sustained annual grants to new and expanding business measured against a percentage of withholding taxes paid by new employees. The program is competitive and the Economic Investment Committee, which oversees it can award up to 15 grants in a calendar year. Contact the NC Department of Commerce Finance Center for the detailed criteria.

Industrial Access/Road Access Fund: administered by the Department of Transportation, this program provides funds for the construction of roads to provide access to new or expanded industrial facilities.

Rail Industrial Access Program: Provides grant funding to aid in financing the cost of constructing or rehabilitating railroad access tracks required by a new or expanded industry which will result in a significant number of new jobs or capital investment.

North Carolina Rural Economic Development Center

Capital Access Program

The Capital Access Program recognizes that local banks are the most proficient source of business lending. However, because banks must rely on deposits from individuals and corporations as their primary source of funds, they generally must limit their loans to those containing the very lowest risk. This means that some solid business ideas fail to get financing.

The Capital Access Program gives banks another choice. The program works by creating a special loan loss reserve to enable participating banks to make loans that carry a higher level of risk than allowed by conventional bank guidelines. The reserves are financed by a borrower's fee, of 3 to 5 percent of the loan amount, and matching funds from the program.

Funds for the Capital Access Program reserve, in the amount of $4 million, have been provided by the Golden LEAF Foundation and the Appalachian Regional Commission. These funds are expected to generate over $120 million in small business loans.

Participating Lenders:

Branch Banking & Trust Company
East Carolina Bank
First Bank of Troy
First Citizens Bank
First National Bank of Shelby
High Country Bank
Lumbee Guaranty Bank
Macon Bank
Neuse River Development Authority
Piedmont Bank
Randolph Bank & Trust Company
Yadkin Valley Bank

Loan Size
The program can be used to cover loans and/or credit lines of any amount. The average loan size is just over $50,000. Most loans have been made to businesses with fewer ten employees.

Eligibility
Any legal business entity in the state North Carolina is eligible to apply.

How To Apply
Businesses should contact a commercial loan officer of a participating lender.

Rural Center contact:
Director, Capital Access Program
N.C. Rural Economic Development Center
4021 Carya Drive
Raleigh, NC 27610
Telephone: 919-250-4314
Fax: 919-250-4325

N.C. Microenterprise Loan Program

In operation since 1989, the Rural Center's nationally award-winning Microenterprise Loan Program provides rural people with small business loans to help them become self-sufficient through business ownership.

The Microenterprise Loan Program works with individuals who have sound ideas for starting or expanding a small business but do not qualify for bank loans. These individuals may include women, members of minority groups, people with low incomes and limited assets, and people who live in rural areas.

The Microenterprise Loan Program provides loans up to $25,000 in combination with business planning and technical assistance. The technical assistance is offered in partnership with small business centers located at area community colleges and small business technology development centers.

The center runs two types of loan programs: 1) Group lending available in selected counties and 2) Individual lending, available in all 85 counties.

Group lending. Three local lending sites operate group-based lending programs. Individuals participate in these programs by self-selecting into groups of four to 10 people. Each group participates in an intensive training and certification process. Once certified, the group can make credit decisions for its members. All loans must be current in order for the group to consider making additional loans. Group members also work together to support the growth and development of one another's businesses.

Individual-based lending. The program also offers individual lending, which is a good choice for those with more business experience and greater financial needs. Program staff work one-one-one with potential borrowers to prepare loan applications based on the borrower's business plan, character, and the local economy. Individuals can apply directly to the Rural Center or be referred by a network of organizations already providing business assistance in the community.

The program has grown steadily since it began in 1989 as a Rural Center demonstration project. Funding comes from a variety of sources. The N.C. General Assembly provides funds for local site operation. Additional funds come from private foundations and the U.S. Small Business Administration. Loan capital is provided primarily through a program related investment from The Ford Foundation. The program was awarded the 1996 Presidential Award and the 1998 U.S. Small Business Administration's Award for excellence in microenterprise lending.

Eligibility
Anyone who wishes to start or expand a small business in one of the 85 rural counties of North Carolina and meets the following minimum criteria may apply: is at least 18 years old; has a business with fewer than 10 full-time employees; is a U.S. citizen/permanent resident and resident of North Carolina. Special emphasis is placed on serving rural, low-income, female and minority borrowers.

Prospective borrowers should contact the Microenterprise Loan Program's local lending office in their area for more information on the loan application process or contact the Rural Center.

Rural Center contact:
Carolyn Perry, Director, Microenterprise Loan Program
4021 Carya Drive
Raleigh, NC 27610
Telephone: 919-250-4314
Fax: 919-250-4325
E-Mail: cpe