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.
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 project specific needs and take into consideration approximately three to five years of prospective property tax revenues.
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.
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.
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.
Incentives are awarded based on the performance of the company in adding capital investment and creating quality jobs. Final approval is subject to approval by the governing authority.