incentives-and-grants

Incentives and Grants

WorkerLocal Incentives

Businesses that locate or expand an industrial or office enterprise in Randolph County may qualify for local incentives in addition to those offered by the State of North Carolina. Incentives are performance based and require capital investment and creation of 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 may also be available to construct rail spur tracks to service new or expanding businesses.


WorkerState Incentives

State incentives often differ based on the county tier system, so it is important to note that Randolph County is a Tier 2 county. Follow this link for a comprehensive listing of incentives offered by the State of North Carolina.

Discretionary Grants
Job Development Investment Grant

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, and is calculated by weighing factors including location of the project, 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.

JDIG also 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. Read More

Job Development Investment Grant - Transformative Project

To qualify as a transformative project under the JDIG program, the grantee (company) must create at least 3,000 jobs and invest at least $1 billion within the base period, which can now be up to ten years. Once the minimum transformative project requirements are met and maintained, the company can receive annual grant payments of  up to 90% of personal income tax withholdings of eligible employees for up to 30 years. In addition, as long as the company maintains the minimum requirements, all jobs created over the term of the grant – again, up to 30 years, can be included in the annual grant payment calculations. Workers employed in North Carolina who fill expansion positions with the company as a result of a merger or acquisition occurring during the term of the agreement are not eligible employees for the grant. Unlike a normal JDIG grant, the maximum amount of any annual grant payment  associated with any specific eligible position is not limited to $6,500. Read More

One North Carolina Fund

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. Read More

Tax Exemptions
Manufacturing

North Carolina offers sales and use tax exemptions for manufacturing machinery and equipment; electricity, fuel and natural gas for manufacturing facilities, raw material for manufacturing, and inventories. Read More

Large Fulfillment Facility

Sales of equipment, or an accessory, an attachment, or a repair part for equipment that is sold to a large fulfillment facility is exempt from sales and use tax. It must also be used at the facility in the distribution process, which includes receiving, inventorying, sorting, repackaging, or distributing finished retail products. Electricity is not eligible for the sales tax exemption. Read More

Pollution Abatement Equipment & Recycling

The state offers property tax exclusions on pollution control and abatement equipment and recycling. It also offers a sales and use exemption for pollution control and abatement equipment. Read More

Historic Preservation Tax Credit

A 15% state tax credit for rehabilitation of income-producing certified historic structures is awarded to rehabilitations that qualify for the federal tax credit and spend up to $10 million. A 10% state tax credit for rehabilitation of income-producing certified historic structures is awarded to rehabilitations that qualify for the federal tax credit and are for expenses from $10 million to $20 million. There is also a 5% bonus if the development is within a Tier 1 or Tier 2 county or is located in an eligible targeted investment site. This bonus may be applied for expenses up to $20 million. Read More

Public Infrastructure
Community Development Block Grants, Economic Development Program

Administered by the NC Department of Commerce, the CDBG ED program provides grants to local governments for public infrastructure development. Funding is contingent on creation of permanent full-time qualifying jobs. Awards for manufacturing projects range from $10,000 to $15,000 per job. Eligible infrastructure projects must be publicly owned and can include upgrade or extension of water and sewer infrastructure, access roads, rail spur improvements, and broadband. Read More

Utility Account

North Carolina’s Utility Account provides infrastructure grants to local governments in Tier 1 and Tier 2 counties. All applications are reviewed and approved by the Secretary of Commerce. Grant amounts depend on funding availability and each project’s relative merits. Grants are awarded to local governments for infrastructure improvements that are publicly owned and maintained. The applicant must demonstrate that the project is expected to lead to job creation in the near future. The grant amount depends on the number of new, full-time jobs created and cannot exceed $10,000 per job created or $500,000 per project. Read More

Rural Division, Economic Infrastructure Program

The Economic Infrastructure Program is administered by the Rural Division of the North Carolina Department of Commerce and provides grants to local governments to assist with public infrastructure projects that will lead to the creation of new, full-time jobs. Award amounts are dependent upon county tier, type of industry, wages, and whether the company pays at least 50% of health insurance premiums for eligible employees. Read More

Building Reuse
Community Development Block Grant, Building Reuse Program

The Community Development Block Grant, Building Reuse Program (CDBG Building Reuse) is administered by the North Carolina Department of Commerce; it provides funds to renovate and upfit vacant industrial and commercial buildings for economic development purposes. CDBG Building Reuse grants are available to local government applicants that work in conjunction with a company intending to operate in a vacant building. The company’s new or expanding operations must result in the creation of permanent, full-time jobs. Read More

Rural Division Building Reuse Grant

The Building Reuse Program provides grants to local governments for two purposes: the renovation of vacant buildings and the renovation or expansion of a building occupied by an existing North Carolina company wishing to expand in its current location. Funding is dependent on job creation and ranges from $5,000 to $12,500 per job depending on the type of business, wages, and whether the business pays at least 50% of health insurance premiums for eligovle employees.

Eligible expenses incurred after a grant has been awarded include: materials and labor to install HVAC, electrical, plumbing, fire alarm/suppression system, roofing, flooring, carpentry, drywall, paint and other renovation or upfitting costs. Prohibited costs that may not be submitted for reimbursement or to meet the matching funds requirement include: building purchase, architectural costs, engineering costs, permit fees, surveys, legal fees, machinery and equipment, telephone hardware and software, computer hardware and software, furnishings, paving, fencing, kitchen equipment and refrigeration equipment. Read More

Transportation
N.C. Departments of Commerce and Transportation, Joint Economic Development Program

The North Carolina Department of Transportation (NCDOT) works closely with the North Carolina Department of Commerce to provide transportation improvements and infrastructure that will expedite industrial/commercial growth and provide new jobs or retain existing ones. Projects must be approved by both the Secretary of Transportation and the Secretary of Commerce. Funds may be awarded up to $2,500 per new job, with a $400,000 limit per project. Read More

North Carolina Department of Transportation Rail Industrial Access Program

The North Carolina Department of Transportation’s (NCDOT) Rail Industrial Access Program uses state funds to help construct or refurbish railroad spur tracks required by a new or expanding company. Program funding is intended to modernize railroad tracks to ensure effective and efficient freight deliveries. Local governments, community development agencies, railroads and companies themselves are eligible for funds to improve rail access. Approval depends on a variety of factors, including the number of potential new jobs that will be created, the amount of capital investment, rail use and local economic conditions.

Grant recipients may receive a maximum of 50% of total project costs, subject to a $200,000 limit per project. Program funding is an incentive to encourage companies to locate or expand in North Carolina versus another state. Projects considering in-state locations only or those not anticipated to yield a significant economic impact do not qualify for funding. Read More

North Carolina Railroad Company, NCRR Invests

The North Carolina Railroad Company NCRR Invests program provides assistance to companies that take advantage of the state’s freight rail opportunities and create jobs by locating or expanding their company in North Carolina. The goal of any NCRR investment is to drive job creation and economic growth that would not necessarily take place otherwise. North Carolina Railroad Company will evaluate requests for investments in the engineering, design, construction or related costs associated with the rail infrastructure needs of a potential new company location or expansion. Read More

Workforce Development and Training
North Carolina Community College Customized Training Program

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 NCWorks Customized Training Program. This specialized workforce-training program has helped build success for companies that now call North Carolina home, and has contributed to the multiple rankings that list North Carolina's business climate as one of the best in the nation. The local director of customized training is housed at Randolph Community College to effectively service businesses across Randolph County. Read More

NCWorks Career Center

Randolph County's NCWorks Career Center is centrally located in Asheboro to meet the needs businesses and job seekers across the county. The Center's highly-trained staff provides a wide variety of services including job opening postings; job applicant screening; qualified candidate referrals; space for applicants interviews; job fair arrangement; reference library for use by companies; information on local labor market, prevailing wages, etc.; and employer workshops on a variety of topics.

The Career Center also provides referrals to partner agencies that administer programs such as on-the-job (OJT) training grants and the Incumbent Worker Training Grant, both of which reimbursement employers for costs related to employee training.

For a full description of North Carolina's Workforce Training and Development Services, click here.