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EDC Home The purpose of this information is to provide a brief summary of the programs that may be available for manufacturing or data center projects

Name of Program: One NC Program

• Purpose - To provide funds to companies adding significant tax base and jobs to a county that exceed the average county wage rate.

• Amount - Varies greatly from project to project and is paid over time in 25 percent increments as full-time jobs with benefits are created.

• Approval - NC Department of Commerce coordinates One NC requests. An employment profile needs to be completed and submitted by the company creating the jobs to initiate process. Any funding must be matched at least dollar-for-dollar with local or certain other types of funding.  This is a discretionary program with awards announced by the governor after a completed application is submitted and reviewed.

 

Name of Program: JDIG

• Purpose - To help increase employment in NC, strengthen the state's economy and economic development goals, remain competitive with another state(s) or country, and to help the completion of a project in NC.

• Amount - a discretionary incentive that provides sustained annual grants to new and expanding businesses measured against a percentage of withholding taxes paid by new employees.  Grant is paid directly to the company.

• Approval - Coordinated by the NC Department of Commerce with approval from an Economic Investment Committee. There is a pre-application process followed by an invitation to submit a full application.

 

Name of Program: Community Development Block Grant

• Purpose - To provide assistance to communities for creation of jobs primarily for low and moderate income persons.

• Amount - Ratio of 1 job created for every $15,000 in funding to be paid to the county for various uses including infrastructure projects.  

• Approval - Since the direct beneficiary is the company, they will need to commit to job creation with at least 60 percent of hires meeting the low/moderate income criteria. Applications can be submitted anytime but does require public hearings by County.

 

Name of Program: NC Rural Center Building Reuse Program - Pre Development Grant

• Purpose - For the planning activities necessary to reuse a vacant building. May include feasibility, architectural and market studies. Building must be vacant for at least three months.

• Amount - Maximum award of $25,000 (A match of at least $5,000 is required. The unit of local government must provide at least $1,000 in cash or in-kind services and $4,000 from public or private sources.)  

• Approval - Quarterly application cycles with award date within two months of submittal.

 

Name of Program: NC Rural Center Building Reuse Program - Redevelopment Grant

• Purpose - To improve vacant buildings for redevelopment including system and structural alterations. Building must be vacant for at least three months.

• Amount - Maximum award of $480,000 ($12,000 per job created. Must be matched by at least an equal amount of private or public funds. The unit of local government must provide a cash or in-kind match equal to 3% the grant request.)  

• Approval - Quarterly application cycles with award date within two months of submittal.

 

Name of Program:  State Green Incentives

NC Energy Investment Revolving Loan Fund:  $18 million in federal recovery monies to provide low-and no-interest loans to finance energy-saving projects at businesses, local governments, non-profits, state agencies, community colleges, universities and public schools.  The loans will be awarded for up to $1 million.

NC Green Business Fund:  $10 million in federal recovery funds to award competitive grants to North Carolina businesses and organizations with innovative projects in bio-fuels, green construction, environmentally friendly technology and renewable energy products.

NC Green Workforce:  JobsNOW initiative will provide nearly $7 million in federal recovery funds to meet the training and workforce needs of the emerging green economy through the community college system.

Federal recovery funds include $12 million to support energy savings and renewable energy initiatives in small businesses and industries.

Property Tax Abatement for Solar Electric Systems:  Exempts 80% of the appraised value of a "solar energy electric system" (also known as a photovoltaic, or “PV” system) from property tax.

Active Solar Heating and Cooling Systems Exemption:  Active solar heating and cooling systems may not be assessed at more than the value of a conventional system for property tax purposes.   Systems placed on residential, commercial and industrial property are eligible for this exclusion. WORKFORCE BOARD PROGRAMS

 

Name of Program: On-The-Job Training Program

• Purpose - To provide employment and training for eligible persons

• Amount - Varies depending on number of persons hired.  Grant is paid directly to the company.

• Approval - Request made through Workforce Development Board Staff

 

Name of Program: Incumbent Workforce Development Program

• Purpose - To provide funding to established North Carolina businesses to provide educational and skills training for current     workers

• Amount - Maximum annual awards of $25,000 with a lifetime cap of $40,000 per company.  Grant is paid directly to the     company.

Approval - Request made through Workforce Development Board Staff

 

Name of Program: WorkKeys

Purpose - To provide assessment system for area businesses

• Amount - Value estimated at $3,000 per job with first job profiled at no cost.  Grant is paid directly to the company.

• Approval - Request made through Workforce Development Board Staff

It should be noted that all local, state and federal programs do have rules and regulations, and it is not possible to set out every requirement in this summary. In most situations an application is required and approval decisions are made by the funding entity prior to any public disclosure of the project. The information below sets out various programs that may be available and does not imply approval of grants or other funds.

STATE OF NORTH CAROLINA

Warren County is classified as a Tier One County, which offers the greatest state incentives.  For additional state information, go to www.ThriveNC.com

 

Name of Program: Customized Training and Development Program

• Purpose - To provide customized skills training for new and expanding industry.

• Amount - Varies by project.  Grant is paid directly to the company.

• Approval - Coordinated through Vance-Granville Community College’s campus in Warren County & Vance County.  A training plan is jointly developed, number of training hours identified, anticipated costs determined and budget approval obtained.   (The state of North Carolina was the first state in the nation to provide customized skills training. The program is state funded and carried out by Vance-Granville Community College, located in Vance County.)

 

Name of Program: 3J Tax Credits for Creating Jobs

• Purpose - To provide a tax credit for companies creating jobs in North Carolina.  Click here for eligibility requirements.

• Amount - $12,500 per job credit taken in equal installments over 4 years.  Grant is paid directly to the company.

• Approval - Eligible companies who meet a minimum threshold of new full-time jobs created during the taxable year are eligible. This is taken as a credit against State Income Tax or Franchise Tax and all credits may not exceed 50 percent of the tax liability.

 

Name of Program: 3J Tax Credits for Investing in Business Property

• Purpose - To provide a tax credit for companies investing in machinery and equipment in North Carolina.  Click here for eligibility requirements.

• Amount - 7% of the cost of capitalized tangible personal property placed in service during the taxable year.  Grant is paid directly to the company.

• Approval - There is no application required to claim the Article 3J credits. This is taken as a credit against State Income Tax or Franchise Tax, and all credits may not exceed 50 percent of the tax liability.

© 2011 Warren County, NC - Economic Development Commission. All Rights Reserved.

501 US Highway 158 Business East -P.O. Box 804 •  Warrenton, NC 27589

Phone: 252.257.3114  Fax: 252.257.2277

 

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