The Pasquotank County Commerce Park is a 300 acre industrial park located 32 miles south of the Port of Virginia (POV). The Park is situated along the Future I-87 corridor (US 17 Bypass) in Northeastern North Carolina and has 4-lane direct access to the POV and Hampton Roads communities of Norfolk, Chesapeake, and Virginia Beach. As of November 2016, the Port of Virginia's Foreign Trade Zone (FTZ 20) now extends into Northeastern North Carolina and encompasses our community and the Commerce Park. Companies that locate within this recognized FTZ 20 will benefit from duty deferral, inverted tariffs, duty reduction, weekly entries, no time constraints, lower insurance costs, and customs and border protections. In addition, the Commerce Park and our unique location in Northeast North Carolina offer many advantages to locate your business. Here are some of those advantages:
• Best State for Business – North Carolina has been named Forbes Magazine’s “Best State For Business” two years in a row for 2017 and 2018. Forbes is one of many publications that has recognized North Carolina’s friendly business environment in recent years.
• Port of Virginia (POV) – The largest deep-water port on the east coast is only a 32-mile drive via an already 4-laned future interstate highway (I-87/US 17).
• Foreign Trade Zone 20 (FTZ-20) - The Port of Virginia’s FTZ-20 was extended into Northeastern North Carolina in November 2016. Companies located within this are eligible for benefits by importing and exporting goods out of the Port.
• Low Union Activity – North Carolina is a right-to-work state with the lowest union rate in the nation at 4%.
• Low Corporate Tax Rate – North Carolina has the lowest Corporate Tax Rate in the Nation at 2.5%. Virginia has one of the Nation’s highest rates at 6%.
• Low Property Tax Rates – Our property tax rates are about 10% lower than other Southeastern Virginia communities.
• Lower Cost of Industrial Land – Industrial land prices are approximately $30-40K per acre as compared to $150-200K prices just 30 miles north in Virginia.
• Low Cost of Living – Elizabeth City-Pasquotank County offers a 25% lower cost of living than both urban and rural South Eastern Virginia communities including Norfolk, Virginia Beach, Chesapeake, Isle of Wight, and Suffolk.
• Higher Incentives – If you choose Elizabeth City-Pasquotank County to locate or expand your business, you will have access to higher incentives due to our State of N.C. “Tier 1 Status”.
• Mature Workforce – Large local military installations like the US Coast Guard and US Navy provide a pipeline of talent from military personnel separating from service and transitioning to civilian jobs.
• Local Educational Resources – Customized training, job placement, and internship opportunities help support the local and regional industries. Our community is home to the College of the Albemarle (COA), Elizabeth City State University (ECSU), and Mid-Atlantic Christian University (MACU). Other regional institutions include Tidewater Community College, Martin Community College, Roanoke Community College, Pitt Community College, Old Dominion University (ODU), and East Carolina University (ECU).
• Aviation Assets – Elizabeth City has a joint civil-military regional airport supporting the US Coast Guard’s maintenance and operations of the HC-130j and MH-60T Jaycraft Aircraft. Adjacent to the Airport is the Elizabeth City Aviation Science Industrial Park with shovel-ready land for prospective aerospace businesses.
• A River City – The beautiful, winding Pasquotank River runs right through the heart of the City’s downtown district providing many sightseeing, kayak, canoeing, sailing, and fishing excursions.
• Downtown Has it All – Whether it’s work, live, or play, Elizabeth City’s downtown has it all. The historic buildings and breathtaking waterfront provide a great atmosphere. New apartments, Bed & breakfasts, chef-inspired restaurants, breweries, and art stores have sprung up in recent years providing a great quality of life for residents and visitors.
