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.
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.
Caldwell Country is classified as a Tier Two County which means State incentives are greater than a Tier Three county.
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.