Mitchell County’s Tier 1 designation makes it eligible for tax credits from The North Carolina Department of Revenue in the amount of $12,500 per employee if the company creates more than 5 jobs. The credit is given in equal installments over four years following the year the jobs are created.

Investing in business property – Companies can claim a credit based on the percentage of the cost of capitalized tangible personal property that is placed in service during the taxable year.

Investment in real property – Companies located in a Tier 1 County that invest at least $10 million in real property within a three-year period and create at least 20 new jobs within two years are allowed a credit equal to 30% of the eligible investment.