The following is a list of programs and incentives administered by the Department of Commerce. For detailed information and forms, click on the program title.
- Local Incentives
Businesses that locate or expand an industrial or office enterprise in Randolph County may qualify for the following incentives. These are in addition to incentives offered by the State of North Carolina. Incentives are awarded based on the performance of the company in adding capital investment and creating quality jobs. Final approval is subject to the governing authority.
- Economic Development Grants - Randolph County and its individual municipal governments support and encourage the location and expansion of manufacturing, distribution, and office enterprises within the county. Businesses may be eligible for economic development grants that are structured to meet specific needs and take into consideration approximately three to five years of prospective property tax revenue.
- Utility Infrastructure - Local governments work in partnership with state and private allies to improve and extend utility access to service the needs of companies that are locating or expanding in the county.
- Transportation Access - Assistance may be provided to improve and extend road access to an eligible business that locates or expands in the county. Assistance is available to construct rail spur tracks to service new or expanding businesses.
- Energy Assistance - Companies may be eligible for discounted energy rates if they meet certain usage and job creation thresholds. Discounted rates are also available for eligible businesses that locate or expand into industrial buildings that have been vacant for two months.
- Workforce Assistance - Businesses will receive assistance in the recruitment and screening of potential employees. Companies that are creating new jobs may receive state funded customized worker training.
- Community Development Block Grants
These funds may be accessed by local government applicants (municipal or county, excluding entitlement cities or designated urban counties) with proposed projects that involve a specific business creating or retaining jobs.
- One North Carolina Fund
The One North Carolina Fund may provide financial assistance to those businesses or industries deemed by the Governor to be vital to a healthy and growing State economy and are making significant efforts to locate or expand in North Carolina. The fund is a competitive fund and the location or expansion must be in competition with another location outside of North Carolina. Criteria for the program is available through the NC Department of Commerce Finance Center.
- Job Development Investment Grant
This discretionary incentive may provide sustained annual grants to new and expanding business measured against a percentage of withholding taxes paid by new employees. The program is competitive and the Economic Investment Committee, which oversees it can award up to 15 grants in a calendar year. Contact the NC Department of Commerce Finance Center for the detailed criteria.
- Worker Training Assistance
Attracting and training a skilled and motivated workforce is crucial to any new or expanding company. No state has more experience helping companies with these important issues than North Carolina. The state pioneered free, customized job training for new and expanding businesses in 1958 and continues to provide the nation's most recognized customized job training service. Helping businesses maintain their competitive edge is a primary role of the North Carolina Community Colleges and their Customized Training and Development services. This specialized workforce-training program has helped build success for companies that now call North Carolina home, and contributed to the multiple rankings that list North Carolina's business climate as one of the best in the nation.