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Incentives & Grants

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Local Incentive Programs

Caldwell County and its seven municipalities have established the Economic Development Incentive Program (EDI Program) to encourage new industry to locate in the county and to assist with existing industry expansion. The EDI Program allows for financial incentives to companies based upon their property taxes for a period of up to five years, as well as for the creation of new jobs within Caldwell County.

Please contact us for specific details of the EDI Program or any of the other programs listed below.

Caldwell County Job Grant

  • Purpose – To provide a local incentive for manufacturing companies creating new jobs in Caldwell County.
  • Amount – $2,000 per new job. Grant is paid directly to the company. Grant disbursements made after one year of demonstrated employment by company and may be matched to State of North Carolina One NC Grant and NC Rural Grant disbursement schedule if company is awarded assistance under these programs.
  • Approval – Coordinated through the Caldwell County Economic Development Commission. Request is presented to the Sales Tax & Reinvestment Committee and the Caldwell County EDC Board of Directors for review and recommendation, and then sent to the Caldwell County Commissioners where a public hearing is conducted and a final action taken. Company must create a minimum of five new jobs and offer employees health benefits. Quarterly NCUI 101 reports required as documentation.

Caldwell County Property Tax Investment Grant

  • Purpose – To provide a local incentive for manufacturing companies creating new tax base and new jobs in Caldwell County through a property tax grant.
  • Amount – Property Tax Investment Grant provides for a 3, 4 or 5 year 75% investment credit on property tax from new investment added to the tax rolls.
  • Approval – Coordinated through the Caldwell County Economic Development Commission. Request is presented to Caldwell County and participating municipality. Each application is considered on a project by project basis.

Additional sources for grants and assistance include:

Duke Energy – Rider EC or Rider ER Credits provides credit for energy use in early years of operation for major customers. Program does require a certain amount of new load in addition to other criteria. Based on electrical load. Credit is paid directly to the company.

Industrial Revenue Bonds
Department of Transportation Rail Industrial Access Program
Department of Transportation Site Access Fund
Incumbent Workforce Development Grant

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State and Federal Incentive Programs

Caldwell Country is classified as a Tier Two County which means State incentives are greater than a Tier Three county.
http://www.nccommerce.com/en/BusinessServices/LocateYourBusiness
/WhyNC/Incentives

Job Development Investment Grants (JDIG) is a discretionary incentive that provides sustained annual grants to new and expanding businesses measured against a percentage of withholding taxes paid by new employees. Grant is paid directly to the company. 25 JDIG’s allocated in a year and typically awarded to firms employing 200 or more employees.

One North Carolina Fund provides funds to companies adding significant tax base and jobs that exceed the average county wage rate of $598 per week which includes bonuses and overtime and includes everyone attached to a facility. Provides funds for the installation or purchase of equipment; structural repairs, improvements or renovations of existing buildings to be used for expansion; and construction of or improvements to water, sewer, gas or electric utility distribution lines, or equipment for existing buildings. This program is coordinated through the NC Department of Commerce. Clients must register with the Commerce Department to be eligible. The Caldwell County EDC can assist with this action.

NC Rural Development Division The Building Reuse Program under the Rural Grants/Programs Section of the North Carolina Department of Commerce will provide grants/loans to local governments to renovate vacant buildings and/or renovate, expand or construct health care facilities that will lead to the creation of new, full-time jobs. Applicants located in an economically distressed county, defined as Tier 1 and Tier 2 counties in N.C.G.S.143B-437.01(a1)(4), are eligible for $10,000 per newly created full-time job. The maximum grant award is $500,000 or one-half of the project cost, whichever is less. Priority will be given to projects in towns and communities with populations of less than 5,000. The program requires a cash match equal to the grant request amount. The local government must contribute at least 5% of the cash match. The cash match shall come from local resources and may not be derived from other State or federal grant funds. These are competitive grants and requests must be made according to deadlines throughout the year.

Golden Leaf Foundation Grants provide funding to 501(c)(3) non-profits and local governments for initiatives that result in job creation and retention in tobacco-dependent or economically distressed counties. Assistance generally coordinated through the NC Department of Commerce.

Small Business Technology Funding (STTR) provides funding opportunities in the federal innovation research and development arena, and includes joint venture opportunities for small business and the nation’s premier nonprofit research institutions. STTR provides awards based on small business/nonprofit research institute qualification, degree of innovation, and future market potential. The 3 phase program offers up to $750,000 for two years. The Small Business Administration is the coordinating agency.

Community College Industrial Training Programs are made available through our statewide network of community colleges. These programs can be adapted to meet the training needs of any new or expanding business that has created at least 12 new jobs. Assistance for industries in Caldwell County is available from Caldwell Community College & Technical Institute.

On-the-Job Training (OJT) Programs

  • On-The-Job Training Program provides grants for training eligible persons, paid directly to the company. Varies depending on number of persons hired. Grant is paid directly to the company.
  • Incumbent Workforce Development Program provides funding to established North Carolina businesses to provide educational and skills training for current workers. Maximum annual awards of $25,000 with a lifetime cap of $40,000 per company. Grant is paid directly to the company.
  • WorkKeys – is a job skills assessment system that helps employers select, hire, train, develop, and retain a high-performance workforce. Value estimated at $3,000 per job with first job profiled at no cost. Grant is paid directly to the company.

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