Biggins Lacy Shapiro & Company, LLC

North Carolina Economic Development Incentives

direct financial assistance

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 75% of the personal income tax withholdings associated with the new jobs up to $16,000 per job for a maximum of 12 years

For “high-yield” projects that invest at least $500 million and create at least 1,750 jobs, the JDIG program can provide a grant worth up to 90% of personal income tax withholdings for up to 20 years

For “transformative” projects that invest at least $1 billion and create at least 3,000 jobs, the JDIG program can provide a grant worth up to 90% of personal income tax withholdings for up to 30 years.  

One North Carolina Fund (One NC):  One NC is a discretionary cash-grant program awarded to reimburse project capital costs such as installation or purchase of equipment, structural repairs and renovations, and construction or improvements to utility lines and associated equipment.  Awards are based on the number of jobs created, investment level, project location, and economic impact of the project. One NC awards require a local match award and are disbursed on a performance basis. 

Utility Account Grants:  Discretionary cash-grant program for projects locating in rural and less-developed counties throughout the state. The grants are funded by portions of JDIG awards for projects in developed counties and are awarded to local governments for project infrastructure improvements.

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, 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. 

North Carolina Biotechnology Center Economic Development Award:  Provides performance-based grants to local units of government in support of life science company projects. Grant awards are made in amounts up to $100,000 per project.

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
  • Mill 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’ (invests $75 million or more)
  • Electricity and business personal property at a “Eligible Internet Data Center” (invests $250 million or more)
  • 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) Software Publishers (NAICS 5112), and Industrial Machinery Refurbishing (NAICS 811310).
  • Equipment used for fabrication of metal work (annual gross receipts must meet or exceed $8 million)

Last updated:  May 2019



 
Biggins Lacy Shapiro & Company, LLC
609-924-9775
info@blsstrategies.com