Orange County NC Website
Browse       Search
20 <br />• TXpe -'...financial incentive grant based on the percentages of annual <br />property taxes paid ...for five year period." <br />• Length of Incentive Period - up to 5 years <br />• Incentive Award <br />0 30% to 90% of property taxes granted for 5 years ranges from based <br />on overall score. <br />o Percentage of award decreases from Year 1 to Year 5 <br />• Required Tob Creation Range -varying points based on jobs created, <br />ranging from 10 - 200 <br />• Wage Requirements -varying points based on county and state average <br />. Tob Quality Requirements -varying points based on benefits included <br />(e.g. health insurance, vacation, employee owned company, etc) <br />• Required Capital Investment -varying points based on level of <br />investment ranging from <$500K to more than $25 million <br />Local Hire Requirement -varying points based on County residents hired, <br />ranging from 10 - 200 <br />• Environmental Impact -varying points based on building reuse, location, <br />LEED certification, various sustainable features <br />• Specific industries -varying points awarded for industries in county- <br />specified clusters, company headquarters and supply-chain relationship <br />with existing businesses <br />• Miscellaneous Information <br />o Incentive policy based on scoring matrix with points awarded for <br />specific criteria up to 100 possible points <br />o Most potential points awarded for job creation criteria (up to 50 <br />points) <br />DURHAM COUNTY - "Resolution Adopting Economic Development Policy" <br />. Type <br />o Not specified -referred to as '...expenditures for economic <br />development... " <br />o Applied to value of'new or expanded' investment <br />Capital Investment Incentive - 2.25 % (up to 2.75 % if one of *optional <br />evaluation criteria included) of new investment <br />Tob-Based Incentive <br />^ 200-500 jobs - up to $1,000 per job <br />^ 501-1000 jobs - up to $1,500 per job <br />^ >1001 jobs - up to $2,000 per job <br />^ Note - a portion of the funding may be provided for training of <br />County citizens <br />. Required Investment Period - 5 years <br />Incentive Payment Period - up to 8 years <br />• Required Capital Investment - $50M for new projects, $30M for expansion <br />. Required Tob Creation -Minimum 200 new jobs <br />Page 4 of 13 <br />