Incentives

STATE OF NORTH CAROLINA
Rutherford County is classified as a Tier One County which means State incentives are greatest in a Tier One county.  For additional State information, go to www.ThriveNC.com

Name of Program: Customized Training and Development Program
• Purpose - To provide customized skills training for new and expanding industry.
• Amount - Varies by project.  Grant is paid directly to the company.
• Approval - Coordinated through Isothermal Community College. A training plan is jointly developed, number of training hours identified, anticipated costs determined and budget approval obtained.   (The State of North Carolina was the first State in the nation to provide customized skills training. The program is State funded and carried out by Isothermal Community College, located in Rutherford County.)

Name of Program: 3J Tax Credits for Creating Jobs
• Purpose - To provide a tax credit for companies creating jobs in North Carolina.  Click here for eligibility requirements.
• Amount - $12,500 per job credit taken in equal installments over 4 years.  Grant is paid directly to the company.
• Approval - Eligible companies who meet a minimum threshold (5 in Rutherford County) of new fulltime jobs created during the taxable year are eligible. This is taken as a credit against State Income Tax or Franchise Tax and all credits may not exceed 50 percent of the tax liability.

Name of Program: 3J Tax Credits for Investing in Business Property
• Purpose - To provide a tax credit for companies investing in machinery and equipment in North Carolina.  Click here for eligibility requirements.
• Amount - 7% of the cost of capitalized tangible personal property placed in service during the taxable year.  Grant is paid directly to the company.
• Approval - There is no application required to claim the Article 3J credits. This is taken as a credit against State Income Tax or Franchise Tax and all credits may not exceed 50 percent of the tax liability.

Name of Program: One NC Program
• Purpose - To provide funds to companies adding significant tax base and jobs to a county that exceed the average county wage rate. The 2010 Rutherford County average wage rate, which includes bonuses and overtime and includes everyone attached to a facility, is $512 per week and is adjusted annually.
• Amount - Varies greatly from project to project and is paid over time in 25 percent increments as fulltime jobs with benefits are created.  Grant is awarded to Rutherford County as the pass through agent.
• Approval - NC Department of Commerce coordinates One NC requests. An employment profile needs to be completed and submitted by the company creating the jobs to initiate process. Any funding must be matched at least dollar-for-dollar with local or certain other types of funding.  This is a discretionary program with awards announced by the Governor after a completed application is submitted and reviewed.

Name of Program: JDIG
• Purpose - To help increase employment in NC, strengthen the state's economy and economic development goals, remain competitive with another state(s) or country, and to help the completion of a project in NC.
• Amount - a discretionary incentive that provides sustained annual grants to new and expanding businesses measured against a percentage of withholding taxes paid by new employees.  Grant is paid directly to the company.
• Approval - Coordinated by the NC Department of Commerce with approval from an Economic Investment Committee. There is a pre-application process followed by an invitation to submit a full application.

Name of Program: Community Development Block Grant
• Purpose - To provide assistance to communities for creation of jobs primarily for low and moderate income persons.
• Amount - Ratio of 1 job created for every $15,000 in funding to be paid to County for various uses including infrastructure projects.  Grant is awarded to Rutherford County as the pass through agent.
• Approval - Since the direct beneficiary is the company, they will need to commit to job creation with at least 60 percent of hires meeting the low/moderate income criteria. Applications can be submitted anytime but does require public hearings by County.

Name of Program: NC Rural Center Building Reuse Program - Redevelopment Grant
• Purpose - To improve vacant buildings for redevelopment including system and structural alterations. Building must be vacant for at least three months.
• Amount - Maximum award of $480,000 ($12,000 per job created. Must be matched by at least an equal amount of private or public funds. The unit of local government must provide a  match.)  Grant is awarded to Rutherford County (or local government applicant) as the pass through agent.
• Approval - Quarterly application cycles with award date within two months of submittal.

• Purpose - To improve occupied buildings (additions and renovations) for properties occupied by certain types of businesses.  Eligible buildings include those used for manufacturing, warehousing, distribution, data processing and software development. The business must create new jobs as a result of the renovation.
• Amount - $5,000 per job up to a maximum $500,000 or one-half the renovation cost, whichever is less.  The unit of local government must provide a match.)  Grant is awarded to Rutherford County (or local government applicant) as the pass through agent.
• Approval - Quarterly application cycles with award date within two months of submittal.

Name of Program:  State Green Incentives
Click here for a list of green incentives that may be applicable to your business.

WORKFORCE BOARD PROGRAMS
Name of Program: On-The-Job Training Program
• Purpose - To provide employment and training for eligible persons
• Amount - Varies depending on number of persons hired.  Grant is paid directly to the company.
• Approval - Request made through Workforce Development Board Staff

Name of Program: Incumbent Workforce Development Program
• Purpose - To provide funding to established North Carolina businesses to provide educational and skills training for current workers
• Amount - Maximum annual awards of $25,000 with a lifetime cap of $40,000 per company.  Grant is paid directly to the company.
• Approval - Request made through Workforce Development Board Staff

Name of Program: WorkKeys
• Purpose - To provide assessment system for area businesses
• Amount - Value estimated at $3,000 per job with first job profiled at no cost.  Grant is paid directly to the company.
• Approval - Request made through Workforce Development Board Staff

DUKE ENERGY
Name of Program: Rider EC or Rider ER Credits.
• Purpose - Provide credit for energy use in early years of operation for major customers. Program does require a certain amount of new load in addition to other criteria.
• Amount - Based on electrical load.  Credit is paid directly to the company.
• Approval - Duke Energy

Name of Program:  Smart $aver Incentive Program
• Purpose - Provide rebates to non-residential customers to install energy-efficient equipment in their facilities.
• Amount - Varies based on equipment type.  Customers should submit a completed application within 60 days after the equipment is installed and operational.
• Approval - Duke Energy

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