Incentives

State Incentives

Training

Training Assistance is available through Richmond Community College, which can reimbursement of a portion of the employees hourly wages during training. RCC offers on and off site training.

Grants & Loans

Building Reuse under the Rural Grants/Programs Section of the North Carolina Department of Commerce, will provide grants to local governments. Three categories of funding are available for:

• The renovation of vacant buildings
• The renovation or expansion of a building occupied by an existing North Carolina company wishing to expand in their current location
• The renovation, expansion or construction of health care entities that will lead to the creation of new, full-time jobs

Industrial Development Funds provide incentive industrial financing grants and loans available to local municipal or county government applicants located in the 80 most economically distressed counties in the State. All applications must be reviewed and approved by the Secretary of Commerce. These funds may be used for: Water, Sewer, Rail, Natural Gas Lines, and Electrical upgrades.

Job Development Investment Grant (JDIG) (PDF) seeks to stimulate economic activity and create new jobs by providing a discretionary incentive that offers sustained annual grants directly to new and expanding business statewide, measured against a percentage of withholding taxes (10% to 75) paid by new employees.

One North Carolina Fund is a discretionary grant used to provide financial support to an industry that makes a significant investment in a new facility or expand a current one in NC.

Rail Industrial Access Fund uses state funds to assist in constructing or refurbishing tracks required by a new or expanding industry to encourage economic development. This funding helps ensure that companies have safer, modernized railroad tracks so freight can deliver their goods and services more effectively and efficiently.