The State of North Carolina offers a variety of incentives to new and expanding businesses. These projects must meet certain criteria around jobs and capital investment. Additionally, incentives are only considered when projects are actively considering other states. A few of the key state programs are highlighted below
The Job Development Investment Grant (JDIG) is a performance-based, discretionary incentive program that provides cash grants directly to new and expanding companies to help offset the cost of locating or expanding a facility in the state. The amount of the grant is based on a percentage of the personal income tax withholdings associated with the new jobs.
Factors involved in calculating the JDIG award include: the county tier designation, the number of net new jobs, the wages of the jobs compared to the county average wage, the level of investment and whether the industry is one of the state’s targeted industry sectors. Grant funds are disbursed annually, for up to 12 years, to approved companies following the satisfaction of performance criteria set out in grant agreements.
For projects located in Johnston County (a Tier 3 county):
75% of the annual grant is paid to the company, and 25% is transferred into the Utility Account.
JDIG has a High-Yield Project (HYP) provision for any company that creates 1,750 jobs and invests $500 million, which can provide a grant worth up to 90% of personal income withholdings for up to 20 years.
JDIG also has a Transformative Project provision for any company that creates 3,000 jobs and invests $1 billion, which can provide a grant worth up to 90% if personal income withholdings for up to 30 years.
The One North Carolina Fund (OneNC) is a discretionary cash-grant program that allows the Governor to respond quickly to competitive job-creation projects. The North Carolina Department of Commerce administers OneNC on behalf of the Governor. Awards are based on the number of jobs created, level of investment, location of the project, economic impact of the project and the importance of the project to the state and region.
By statute, OneNC requires that a local government provide an incentive to match the OneNC funding. In Johnston County (a Tier 3 county), the local government must provide no less than one dollar for every one dollar provided by One NC.
North Carolina’s workforce development system—one of the most comprehensive in the nation—brings employer and employees together by managing recruiting, screening and other necessary pre-employment assessments.
Learn more about North Carolina’s Recruiting Assistance, Screening Services, and Customized Training programs.
Johnston County and the incorporated municipalities within have proven to be active participants in local incentive grants aimed at encouraging new and expanding companies to create jobs and invest in capital projects. The county and municipalities do not have prescribed incentive policies, which enables them to craft incentive grants specific to each opportunity.
Johnston County EDC
@JoCoEconomicDev — Mar 9
Up bright and early in the @TownofClayton @claytoncenternc for the @TriangleBIZJrnl Corridor of Opportunity event w… https://t.co/weZ0nuX9O5