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3 <br />SUMMARY OF SELECT INCENTIVE POLICIES <br />Prepared 11%19/2010 <br />ALAMANCE COUNTY - "Incentives -The Carolina Corridor" <br />• Type -Primary local incentive is cash grant <br />o Also offer utility upgrades/extensions <br />o Utility rate incentives <br />o Expedited regulatory processes <br />o Various fee waivers for development costs <br />• Incentive Basis -Capital investment <br />• Incentive Amount -Negotiable <br />• Date of Policy -unknown <br />DURHAM CITY - "Resolution Establishing an Economic Development <br />Financial Assistance and Incentive Policy for Job Creation and Retention and <br />Capital Investment" <br />• TYpe -Not specified, other than payment' <br />• Incentive Basis -Jobs and/ or capital investment <br />• Tob-Based Incentive Award - up to $2,500 per new or retained job, with <br />maximum of $1,000,000 (varies by designated area) <br />• Capital Investment Incentive Award <br />o From 1.5 % to 16 % of capital investment to maximum of $10,000,000 <br />(varies by designated area) <br />o Can be combined with required job creation <br />Required Capital Investment -From $187,500 to $45,000,000 (varies by <br />designated area) <br />• Required Tob Creation Range - 5 - 25 new jobs (varies by designated area) <br />during specified time period <br />• Required Tob Retention Range - ' ...more than 100...' retained jobs during <br />specified time period <br />• Time Period for Tob Creation /Capital Investment Completion - 2 years <br />to maximum 5 years (varies by designated area) <br />• Tob Quality Criteria <br />o Full time, permanent <br />o Retained for at least 5 years <br />o Must be posted in local ESC office <br />o Must pay City's livable wage rate <br />o Jobs creation levels maintained for continuous 12-month period <br />o Payment based on employer's certified unemployment insurance <br />filings with NCESC <br />o Lower job creation requirement may be offered for jobs in <br />'Targeted Industry' <br />