A major incentive (excuse the pun) to choose one of the Triangle North sites for your business is our Tier One Status, which provides the most lucrative grants and credits available.
State of North Carolina Grant Programs
The One North Carolina Fund helps recruit and expand quality jobs in high value-added, knowledge-driven industries. It also provides financial assistance to those businesses or industries deemed vital to a healthy economy that are making significant efforts to expand in North Carolina. The fund is designed to increase the state’s competitiveness, so the project location or expansion must be in competition with another location outside the state.
To be considered, the company must agree to meet an average wage test, and there must be a local dollar-for-dollar match.
The Job Development Investment Grant (JDIG) Program is a discretionary incentive that provides sustained annual grants to new and expanding businesses measured against a percentage of withholding taxes paid by new employees.
A proposed project must meet a rigorous set of criteria. The Committee must find:
- The project results in a net increase in employment.
- The project increases opportunities for employment and strengthen the state's economy.
- The project is consistent with the economic development goals of the state and of the area in which it is located.
- The project is competitive with another state(s) or country.
- The grant is necessary for the completion of the project in North Carolina.
Local Grant Programs
Communities in North Carolina have the ability to offer grants to new and expanding businesses that create new jobs and/or add new investment to the local tax base. These local incentives are examined on a case-by-case basis. We strongly suggest contacting us early in the site location process to learn about these programs.
New and expanding companies in specific industry sectors are eligible to receive customized training through the North Carolina Community College System. In the Triangle North Region, Vance-Granville Community College would lead these efforts. For companies that meet certain criteria, these training programs can be offered at no cost to the company.