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GRANTS & TAX CREDITS

Cabarrus County along with its municipalities and the State of North Carolina offer competitive grants, financial assistance and training programs for new and existing companies.

Within Cabarrus County

Grant

Description

Requirements 

Economic Development Grant Program

To help increase employment opportunities in Cabarrus County 

Minimum capital investment $1.5 million
Equivalent to 85% taxes paid
for 3 consecutive years

Concord Center City - Urban Progress Zone
(more info .PDF)		 To stimulate job growth of new or existing industries in a specific area of Concord

Minimum capital investment $1.5 Million
Equivalent to 85% taxes paid
for 3 consecutive years

City of Kannapolis Industrial Grant To increase employment opportunities in Kannapolis

Minimum capital investment $3 Million
Equivalent to 85% taxes paid
for 3 consecutive years

Downtown Concord Jumpstart Program

To encourage businesses to locate in the Municipal Service District of downtown Concord

This grant is a one-time reimbursable
matching grant in an amount up to $1,500

 

State of North Carolina

Tax Credits 

  1. Article 3J Tax Credits - Provides tax credits to qualifying businesses for job creation, investment in business property and in some cases investment in real property. 
  2. Research and Development Tax Credits - Provides tax credits for qualified North Carolina research expenses during a taxable year.
  3. N.C. Ports Tax Credits - Provides tax credits towards income taxes paid by businesses or individuals using ports facilities at N.C. Ports at Morehead City and Wilmington.
  4. Renewable Energy Tax Credits - Provides a tax credit of 35% of the cost of renewable energy property.

Discretionary Programs

  1. Job Development Investment Grant (JDIG) Provides a limited number of cash grants to new and expanding businesses that will provide economic benefits to the State, and need the grant to carry out the project in North Carolina.
  2. One North Carolina Fund - Awards grants for job creation and/or retention in conjunction with local government matches.
  3. SBIR/STTR Small Business Technology Funding - Awards matching funds to firms who have been awarded a SBIR/STTR Phase I award from the federal government.
  4. Site and Infrastructure Grant Fund - Provides assistance for site development and infrastructure improvements for very high-impact projects.

Other Cost Saving Programs

  1. Foreign Trade Zones - Provides opportunities to defer, reduce and/or eliminate import duties.
  2. Industrial Revenue Bonds - Provides tax-exempt financing for eligible new or expanded manufacturing facilities, certain solid waste disposal facilities and sewage disposal facilities.
  3. Community Development Block Grants and Industrial Development Fund - Provides grants and loans for infrastructure development to eligible local governments.
  4. Road Access and Rail Access Programs - Provides funds for the construction of roads and rail access to new or expanded industrial facilities.
  5. Recycling Business Assistance Center - Provides grants, tax credits and loans to businesses involved with recycling in North Carolina.
  6. North Carolina Biotechnology Center - Provides loans and matches to help leverage larger financial awards for biotechnology companies.
  7. Film Incentives - Provides tax credits and sales and use tax discounts to encourage film and television production in North Carolina.

Sales & Use Discounts