Job Development Investment Grant
Among state incentives, the Job Development Investment Grant is a performance-based, discretionary incentive program that provides cash grants directly to new and expanding companies to help offset the cost of locating or expanding a facility in the state. The amount of the grant is based on a percentage of the personal income tax withholdings associated with the new jobs. In Pitt County, 100% of the annual grant is paid to the company.
One North Carolina Fund
The One North Carolina Fund (OneNC) is a discretionary cash-grant program that allows the Governor to respond quickly to competitive job-creation projects. Awards are based on the number of jobs created, level of investment, location of the project, economic impact of the project and the importance of the project to the state and region.
Economic Development Grant
The Pitt County Development Commission provides an Economic Development Grant for qualifying projects. The grant is based on a percentage of the net increase ad valorem taxes above the base year prior to new investment for a specific number of years. For example, an industrial project can be awarded a grant based on 50% of ad valorem taxes for 5 years. Grants will be disbursed each qualifying year after payment of the annual property tax levy.
Full-time Job Creation Option
The City of Greenville offers a Full-time Job Creation Option for companies that are making a taxable investment of at least $500,000 and hiring at least 25 new full-time jobs. To be considered for this grant, companies must pay at least 50% of employee health insurance for all of the new full-time incentivized jobs or provide an equivalent benefit. This grant option provides companies with the incentive based on full-time job creation only. Grant amounts are $1,000 per new full-time job, with a maximum annual installment of $100,000. This option contains a 3-tier structure that provides a larger incentive to companies that have elevated job levels by increasing the number of annual installments between two and five. New full-time job creation levels must be met each year prior to grant funds being dispersed. In addition, all new full-time jobs must be maintained for 3 years beyond the completion of annual grant installments.
