The State of North Carolina and local governments within Alamance County provide incentives to support attraction/retention of quality job growth and tax base development through new capital investment.
There are two separate but overlapping levels of local government – county and city/town. While all properties are within the county jurisdiction, not all properties are within an incorporated city/town. Each level of local government may, separately, consider and provide incentives. The primary local incentive is a cash grant. The amount of a grant is negotiable but based, primarily, on the capital investment associated with the project. Terms and conditions for grant payments are also negotiable based on the particular needs of the client and project and are codified in written performance agreements between the Company and the local government unit(s). Other local incentives may include utility upgrades/extensions and/or rate incentives, expedited regulatory processes, and/or various fee/charge waivers for site/building development costs. These are also considered and offered based on the specific project requirements.
Recognizing the competitive environment and the compressed time frames our clients have, cash grant offers can be proposed fairly quickly. However, all such offers are only tentative until approved at formal public hearings (this is in accordance with state law). State level incentives do not require public hearings.
All project details, including local incentives negotiations and offers, may remain confidential until the public hearing. Contact Julia@alamancechamber.com if you have questions about local incentives
State of North Carolina Incentives
The State provides a menu of incentives including cash, tax credits, training support, assistance with regulatory issues, financing, etc. Read more about State of North Carolina Incentives here.