Business Incentives and Financial Assistance
The North Carolina Department of Commerce offers qualified companies financial programs and incentives that can help existing companies expand or new companies locate in Mitchell County. In addition on-going workforce training opportunities provide retraining of employees to help them learn new skills in a changing competitive environment.
North Carolina State Incentives
One North Carolina Fund
The Fund helps recruit and expand quality jobs in high value-added, knowledge - driven industries. The Fund is competitive and the location or expansion must be in competition with another location outside the state.
Feldspar Corporation
Program Requirements - Companies can receive money for:
Installation or purchase of equipment
Structural repairs, improvements to new and existing water, sewer, gas or electric utility lines or equipment for existing buildings.
For a company to be considered:
The company must agree to meet an average wage test and be approved by The North Carolina Commerce Finance Center
Local units of government (city and county) must agree to match financial assistance to the company.
Job Development Investment Grants
The Job Development Investment Grant (JDIG) 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.
The program stimulates economic activity and creates new jobs by promoting the expansion of existing business and industry and by recruiting and attracting new business and industry.
Overseeing the program is the Economic Investment Committee, comprised of five members, the Secretary of Commerce, the Secretary of Revenue, the Director of the Office of State Budget and Management, and two private sector members appointed by the NC General Assembly.
Buck Stove Corporation
Program Requirements:A proposed project must meet a rigorous set of criteria. The Economic Investment Committee must find:
The project will result in a net increase in employment.
The project will increase opportunities for employment and strengthen the state's economy.
The project will be consistent with the economic development goals of the state and of the area in which it is located.
The project will be competitive with another state(s) or country.
The grant is necessary for the completion of the project in the state.
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