Incentives

North Carolina Tax Credits

Worker Training Tax Credit

• $500 per job ($1,000 within State Development Zone plus Tier designation)
• Company must be eligible for Jobs Tax Credit or Investment Tax Credit
• Minimum 5 or more workers that will receive training
• On the job training wages not eligible
• Must meet wage requirements

Central Administrative Office Tax Credit

• 7% of cost of leased or purchased real property
• Maximum credit allowed for central administrative office property is $500,000

R&D Tax Credit

• 5% on R&D expenses apportioned to North Carolina

NC Port Users Tax Credit

• Companies that utilize the NC ports in Wilmington or Morehead City can become eligible for significant tax credits.

North Carolina Industrial Revenue Bonds

• Maximum $10 million per project, $40 million per company

North Carolina Infrastructure Assistance

Road Access Funds

• State will provide assistance on the construction of access roads to a site
• Improvements to existing road infrastructure that are required due to the scope of the project area also available
• Road improvements must have approval of local officials

Rail Spur Extension Assistance

• Extensions or renovations of existing rail spurs may be possible through state funding
• Local governments may provide other improvements that reduce rail costs, such as the relocation of streets
• State's portion of assistance cannot exceed 50% of the total project cost.
• Approval of funds based on new jobs created, capital investment of project, amount of rail use and general impact of project on community and state.

North Mecklenburg Incentives

Lake Norman Region Economic Development Incentive Grant Policy

G.S. 158-7(a) provides that each city in the State is authorized to make appropriations for the purpose of aiding and encouraging the location of manufacturing enterprises, making industrial surveys and locating industrial and commercial plants in or near such city; encouraging the building of railroads or other purposes which, in the discretion of the governing body of the city will increase the population, taxable property, agricultural industries and business prospects of any city. These appropriations may be funded by the levy of property taxes pursuant to G.S. 160A-109(b)(17a) and by allocation of other revenues whose use is not otherwise restricted by law; and

The Commissioners of the Town's of Cornelius, Davidson and Huntersville believe that granting Economic Development Incentive (EDI) grants will encourage the location and expansion of manufacturing and commercial enterprises and will increase the population, taxable property, industrial and business prospects;

1. In determining whether or not an EDI Grant will be made, and if so the amount thereof, the following criteria, and such other criteria as deemed appropriate in each individual case, will be used in making the determination:
   1. The type of facility.
   2. The effect on the environment.
   3. The size of the project based upon investment in site development, plant facilities and infrastructure.
   4. The number of and type of jobs created.
   5. The relationship between jobs development and total investment.
   6. Potential for future expansion and increased employment.
   7. Site specific issues that impact upon local infrastructure responsibilities.
   8. Site specific initiatives that may be pursued to stimulate other development in areas that the Town may deem of significant benefit to the community.

2. The Grants may be made in kind, or in cash:
   1. If the Grant is made in cash, it may be made in a lump sum or in annual installments, depending on the Town's budgetary condition.
   2. If the Grant is made in annual installments, the industry shall meet the following requirements:
      1. The industry must be in continuous operation for a period of at least one calendar year prior to the Town's making the annual installment.
      2. The industry must employ a certain number of employees who are paid wages equivalent to or above the average wages paid in Mecklenburg County as reported by the Employment Security Commission.
      3. All ad valorem taxes and other public obligations must be current.

3. Other Matters:
   1. Annual installment payments of Grant may not be transferred or otherwise conveyed to another party without the specific consent of the Town.
   2. The terms of EDI Grant will be embodied in a formal agreement between the industry and the Town.
   3. If the industry is not located within Town limits, this agreement may provide that the property location shall be annexed into the Town.