Financial Incentives

There are a number of financial incentives which may be available to Industrial Developers in the form of grants, low interest loans, and other assistance. These incentives are made available from the State of North Carolina and Franklin County, NC.

  • Certified Development Corporation - A non-profit agency administers the Revolving Loan Fund program created from matching federal and state grants which funds 75 percent or $200,000 of project cost, whichever is less, for certain specified costs.
  • Dislocated Worker Program - Reimburses a percentage of retraining costs.
  • Industrial Revenue Bond Financing - Funds land and equipment purchase, as well as facility construction, maybe obtained through the Franklin County Industrial Facilities & Pollution Control Financing Authority.
  • 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 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 are 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 businesses 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 25 grants in a calendar year. Contact the NC Dept. of Commerce Finance for the detailed criteria.
  • Community Development Block Grants - These funds may be available to both Commercial and Industrial Developers and vary from utility expansion assistance to Building Reuse funds, all being based on a job creation and retention formula.
  • Industrial Training - NC's industrial training services provides a production work force according to the specific skills required. Nearly 8,000 individuals have been trained for specific jobs in new & expanding industries & existing industries in the area Financed completely and solely by the state of North Carolina.

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