Biggins Lacy Shapiro & Company, LLC

North Carolina Economic Development Incentives

direct financial assistance

One North Carolina Fund (One NC):  One NC is a discretionary cash-grant program that requires a local match.  Awards are based on the number of jobs created, investment level, project location, and economic impact of the project. Awards may be used for improvements such as installation or purchase of equipment, structural repairs and renovations, and construction or improvements to utility lines and associated equipment.

Job Development Investment Grant (JDIG):  JDIG is a performance-based, discretionary incentive program that provides cash grants to new and expanding businesses to help offset the cost of locating or expanding a business facility in North Carolina. Companies can qualify for a JDIG based on the project location, number of jobs, and average wage. The grant amount is based on a percentage of the personal income tax withholdings associated with the new jobs. For high-yield projects that invest $500+ million and create 1,750+ jobs, JDIG can provide a grant worth up to 100% of personal income tax withholdings for up to 20 years. For transformative projects that invest $4 billion+ and create 5,000+ jobs, JDIG can provide a grant worth up to 100% of personal income tax withholdings for up to 25 years. A company can use JDIG funds for any purpose.  

Public Infrastructure and Transportation Grants:  North Carolina offers a number of different programs to fund public infrastructure development, including the Community Development Block Grant Economic Development Program, Utility Account, Rural Division’s Economic Infrastructure Program, NCDOT’s Rail Industrial Access Program, North Carolina Railroad Company’s NCRR Invests program, and the NC Department of Commerce’s Joint Economic Development Program with the NCDOT. 

JOB TRAINING

Customized Training Program:  The Customized Training Program provides customized training assistance in support of full-time production and direct customer service positions. Resources provided may support training assessment, instructional design, instructional costs, and training delivery for personnel involved. North Carolina will also assist with recruiting, screening, and testing services. 

TAX EXEMPTIONS

Sales and Use Tax Discounts, Exemptions and Refunds:  North Carolina offers a number of sales and use tax exemptions including 

Manufacturing

  • Manufacturing machinery and equipment used for manufacturing.
  • Fuel, piped natural gas and electricity used for manufacturing.
  • Raw materials used for manufacturing.

Large Fulfillment Facility

  • Large fulfillment facility equipment (Invests more than $100 million and creates 400 jobs).

Data Centers

  • Electricity and support equipment at a ‘Qualifying Data Center’ and Computer software at any data center.

Other Exemptions

  • Pollution control and abatement equipment.
  • Equipment for Research and Development in the Physical, Engineering, and Life Sciences companies (NAICS 54171) and Software Publishers (NAICS 5112).

Last updated:  June 2018



 
Biggins Lacy Shapiro & Company, LLC
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