Incentives
The state and county’s low sales and income tax rates, affordable utilities and highly affordable cost of living allow businesses of all kinds to keep more of their hard-earned money. Caldwell County is committed to the growth and diversification of its economy. Caldwell County, its local municipalities and the State of North Carolina have several programs that offer relocation assistance and foster new and expanding businesses and industries to generate job creation and investment.
Please contact CCED to see how we can help your business launch, expand, or relocate to Caldwell County. Our personalized assistance makes the difference.
CaldWELL INCENTIVIZED
Local incentives are granted by each municipality and then by Caldwell County on a case-by-case basis. Our team reviews the specifics of each project and then develops the optimal package of incentives that will help your company achieve its goals while strengthening the local tax base and creating new job opportunities for residents. Enter into a joint economic development agreement to receive the maximum business relocation assistance available.
Some general guidelines for incentives applying to economic development agreements in Caldwell County include:
Economic Redevelopment Rider (ER)
Rider ER provides qualifying customers locating in Duke Energy-served existing buildings a billing credit of 50 percent for their first year of operation beginning, at the customer's discretion, up to 12 months after the initial delivery of service. The monthly billing credit effectively offers a new customer the opportunity for "half-price energy" during their first year of operation when they are moving into an existing Duke Energy-served building with adequate Duke Energy electrical service in place.
Relocating a business to North Carolina, or anywhere for that matter, requires research, time and investment. Caldwell County Economic Development (CCED) can work with you and your company to secure business relocation assistance and find the best available relocation incentives in NC. Caldwell County is classified as a Tier Two county, meaning state incentives are greater than in a Tier Three county.
Qualifying businesses can receive state incentives in North Carolina including, but not limited to job development investment grants and funding for select business purchases and infrastructure costs.
Incumbent Workforce Development Grant is designed to make a difference in your bottom line, whether your organization is creating jobs, investing in new machinery and equipment or streamlining processes for efficiency. Incumbent Worker Training Program resources may support training needs assessment, instructional design, development and delivery.
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. There are 25 JDIGs allocated in a year, typically awarded to firms employing 200 or more employees.
One North Carolina Fund 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, but Caldwell County Economic Development can assist with this action.
The Building Reuse Program under the Rural Grants/Programs Section of the NC Department of Commerce will provide grants/loans to local governments to renovate vacant buildings and/or renovate, expand or construct healthcare facilities that will lead to the creation of new, full-time jobs. The local government must contribute at least 5 percent 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.
Community College Industrial Training Programs are made available through North Carolina’s 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 provide a wage reimbursement incentive that may help a business offset the cost of training a new employee with limited skills. It offers the unique opportunity to offset initial training costs to fill skilled positions while building organizational productivity as the employee learns job requirements.
Move right into one of our existing manufacturing buildings. The infrastructure is in place and a trained workforce is ready.
Caldwell County ranked 20th out of North Carolina’s 100 counties for wage growth in 2023. Since 2015, wages have grown an impressive 51.5%.
Record numbers of new businesses and industries have registered in Caldwell: 250-500 each year since 2018. The CCC&TI Business Center is ready to assist.
Powered by an economy that has hit its stride and turbocharged by a track record of innovation, Caldwell County is the best of NC.
NC has increased production of renewables by nearly 52%, double the average of all 50 states
CCED works closely with CCC&TI and local manufacturers to meet the workforce needs of employers.
