City of Kannapolis - Economic Development

Location
Kannapolis is a thriving city of 40,000 located along the I-85 corridor in the Charlotte region of North Carolina. A central point in the expanding area north of Charlotte, Kannapolis is less than 30 minutes from I-77, uptown Charlotte, Charlotte-Douglas International Airport and the University of North Carolina at Charlotte.

History
Kannapolis entered a new era on September 12, 2005, when David H. Murdock unveiled his plans for the North Carolina Research Campus. On the site of the former Pillowtex textile mill, the North Carolina Research Campus will change the dynamic of the city, moving it from a traditional manufacturing economy towards research and biotechnology.

A city in transition, Kannapolis was originally a traditional mill village owned entirely by Pillowtex predecessor Cannon Mills and incorporated in 1984.

The City prepared for the day the mill closed. In the mid-1990's, 10 square miles of land to the west of Kannapolis was identified as a growth area. The area was annexed in 1999 and is the location of Kannapolis Gateway Business Park, Biscayne Business Park, Stanley Works, Shoe Show, Dogwood Industrial Park, a development by Childress Klein and executive housing.

In the past decade, a new a $4 million YMCA, a senior center, a public library, a baseball stadium for the Kannapolis Intimidators, a Class A affiliate of the Chicago White Sox, and Kannapolis Gateway Businesses Park are examples of the successful partnerships that are improving the community, attracting new business and creating new jobs.

The North Carolina Research Campus, a 350-acre massive scientific and economic revitalization project that encompasses the former Pillowtex plant and the entire downtown area of Kannapolis, will house state-of-the-art laboratory space and is expected to become home to over 100 biotechnology companies. A partnership with the University of North Carolina, including UNC-Chapel Hill, North Carolina State University, and the University of North Carolina at Charlotte has been forged to advance groundbreaking research focused on health and nutrition and to enable each of these institutions to have a physical presence in Kannapolis.

When completed, the North Carolina Research Campus will include more than one million square feet of office and laboratory space, 350,000 square feet of new retail and commercial space, and approximately 700 new residential units.

Click here for a historical timeline.

Taxes/Incentives
The City boasts a very favorable tax climate, ranked by the John Locke Foundation as having one of the lowest per capita tax burdens in the state of North Carolina. The State sales tax is 4.5%, the County charge is 2.5% and the City does not have sales tax. The property tax rate in Kannapolis is $0.497 per $100 of assessed value.

The State of North Carolina offers several different incentive programs for relocating or expanding businesses, including tax credits, grants, loan funding and bond financing. Kannapolis actively partners with business to help them gain incentives at the local, county and state level. These partnerships also address infrastructure and other project needs to fast track the development process and maximize industrial and commercial investments.

For more information about these programs, please visit the North Carolina Department of Commerce Finance Center or contact the Cabarrus County Economic Development Corporation

Sites and Buildings
Kannapolis boasts ample land with easy interstate access, class A flex space, warehouses and retail locations to fit most every need. For more information about sites and locations in Kannapolis, please visit the Cabarrus Regional Partnership or contact Economic Development Director Ryan McDaniels at 704-782-4000.

Quality of Life
With a mild annual average temperature of 61 degrees, Kannapolis offers a small-town lifestyle with all the benefits of major-city attractions. There are parks and greenways, the Kannapolis Intimidators minor league baseball team and quality schools in the Cabarrus County, Rowan County and Kannapolis City Schools systems. There are also ample new neighborhood developments.

Kannapolis' award-winning summer concert series, festivals and other events harken back to a simpler era. Meanwhile, Kannapolis' neighbor Charlotte offers the NFL, NBA, and a strong arts community with the #1 per capita in giving to the arts and sciences in the nation. Kannapolis also sits square in the middle of NASCAR Valley, with nearly every team's headquarters a short drive away.

The region surrounding Kannapolis is home to four universities, 11 liberal arts colleges and ten community colleges. The Blue Ridge Mountains are two hours away and the Carolina beaches less than a four-hour drive. Other outdoor activities include boating, hiking and golf are less than an hour away.