Local incentives are determined on a case-by-case basis by our governing boards based on the merits of the project and are typically provided to a client as a percentage of the new property tax generated.  Grants based on revenues received as a result of a project have been made many times in Catawba County on manufacturing projects for both new and existing industry. 

 

Local incentives are based on industry type, increased tax base in new building construction and improvements, new machinery and equipment (exclusive of rolling stock), job creation, average wages and benefits provided to employees. These incentive grants that may be applied to any company project cost (equipment, land purchase, site development, etc.)  

 

All incentives will be outlined in a contractual agreement and must be approved in open session by the local governmental bodies (formal approval by elected officials in open session by Catawba County and a public hearing and formal approval in open session by the city/town).  Incentives are contractually based and negotiated by the attorneys for the client and local government through the EDC. Client must meet all investment, job creation and average wage requirements stipulated in the contract.  In addition, employees under 25 years of age must have a high school diploma and those over 25 years of age must have a high school diploma or GED.

 

With more specifics details (jobs, investment, wages), we can provide a preliminary estimate of city/town & Catawba County incentives prior to formal approval.

 

Incentive Approval Process:

Once a client makes the confidential decision to locate, we will draft incentive contracts for both the city/town and the county and provide them to the client for review/editions. When the incentive grant contracts are in final form, the city/town and county will call for a public hearing which requires a 10-day notice to the local newspapers. We may conduct a joint public hearing with both the city/town and county where the incentives will be considered and approved at the same time. We will coordinate the local incentive consideration and approval with the offices of the North Carolina Governor and the Secretary of Commerce with the understanding that they will be the first to announce the project (if state funds are involved). Following the public hearing and public approval, the city/town and county will sign the documents and forward two copies to the project for their signature. 

 

Incentive Reporting Process:

The company will be required to certify investment, job creation and average wages annually on a form provided in each contract. The client will need to provide supporting documentation including proof of taxes paid, investments made and jobs created (including average wage). This information must be provided during the investment and job creation period and three years following.