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lnct nn, 1 /% 7 /7m d Summary of Incentive Policies in 12 North Carolina Municipalities 121 <br />fnta`7• <br />- - <br />Attachment <br />3 -c <br />Location Type of Policy <br />Value <br />Term <br />Performance Grant Requirement <br />Notes <br />City of Burlington Formal Written <br />Grants are quoted equal to 1% of the total <br />up to 5 yrs <br />Investment for anew industry requires $8 million minimum taxable value in buildings and /or <br />htti)://www.cl.burlington.nc.us/index-asi)x?NID=7 <br />Policy <br />investment of new or expanded tax base. <br />equipment. <br />56 <br />The City will provide +0.5 % higher incentive to <br />Investment for an existing industry requires a $1.5 million minimum taxable value in building <br />corporate headquarters if the project employs <br />expansion and /or equipment. <br />at least 50 or more new full -time employees, <br />and the building designated as the <br />No incentives are being recommended for commercial /retail -type businesses at this time, but <br />headquarters. <br />could be explored in the future if deemed necessary. <br />Town of Cary <br />Internal <br />Case -by -case according to size of project. <br />Unknown <br />Unknown. <br />Wake County incentives pdf fpage 281 <br />Guidelines <br />City of Clinton <br />Formal Written <br />Case -by -case according to type of project. <br />3 to 5 yrs <br />Grant requires a minimum of $1 million for a new facility and new 15 jobs. <br />Sampson County Incentive Policy <br />Policy <br />An existing facility must invest a minimum of $500,000 and create 10 jobs. <br />City of Durham <br />Formal Written <br />Case -by -case; grants average 2.25% of the <br />up to 10 yrs <br />Grant % and terms vary dependent upon project type and location /designated development <br />Durham City Incentives Policy <br />Policy <br />project's capital investment; single grant is <br />areas. <br />capped at $2,000,000. <br />Minimum capital investment and job creation vary based upon location and designated <br />development areas. <br />City of Greensboro <br />Internal <br />Case -by -case (grants can be up to up to 80% of <br />up to 5 yrs <br />Grants for a new facility require a minimum $7 million investment and 20 new jobs. Grants <br />Greensboro & Guilford County Incentives odf <br />Guidelines <br />a project's taxable value.) <br />for an existing facility require a mimimun of $3 million and 20 new jobs. <br />City of <br />Unwritten <br />Discretionary incentive for water and sewer <br />Unknown <br />Project requires cost sharing by Henderson County and the industrial client. <br />htti)://—Rohendersoncountync.org/dyn.i)hp?r)age=i <br />Hendersonville <br />Guidelines <br />extensions /improvements ($1,000 per job up <br />ncentives.php <br />to a maximum of $50,000) <br />City of Hickory <br />Internal <br />Grants can be up to 100% of a project's <br />up to 10 yrs <br />Industrial & Non - Industrial projects: a min of $1.5M new capital investment with 20 new <br />City of Hickory Incentives Guidelines odf <br />Guidelines <br />taxable value. <br />jobs. <br />Existing industry incentives are reviewed Case- <br />Commercial Development Revitalization Area projects: a min of $500k new investment. <br />by -case <br />Town of <br />Formal Written <br />Grants can be up to 75% of a project's taxable <br />up to 5 yrs <br />Median wage /salary for the new employees must equal or exceed the median for Orange <br />http : / /www.cl.hillsborough.nc.us /sites /default /file <br />Hillsborough <br />City of Mebane <br />Policy <br />Internal <br />value <br />Case -by -case; grants are set between 1%- 3% <br />3 to 5 yrs <br />County. <br />Grants have included straight cash payments, reducing land cost, offsite road, water or sewer <br />s/Hills borough EDPolicy- Final2 0 odf <br />[Details by <br />Guidelines <br />of the project's capital investment, and are <br />costs; and have in the past waived all building permit, zoning, plan review, water connection <br />provided Chris Rollins, Asst. County <br />Manager, via email on 1/9/14] <br />historically between 1.5 %to 2.5 %. <br />and sewer connection fees. Each project is evaluated based on investment, water and sewer <br />usage, type of industry, average wages and number ofjobs. <br />City of Mooresville <br />Formal Written <br />Case -by -case; grants can be up to 100% of <br />up to 5 yrs <br />Grant requires a minimum of $3 million in new capital investment. <br />http://www.edcmooresvilie.org/incentives- <br />Policy <br />project's taxable value. <br />resources <br />Wake County incentives odf foage 351 <br />City of Raleigh <br />Internal <br />Case -by -case according to size of project. <br />up to 5 yrs <br />A project must create newjobs that meet or exceed the County's average wage, and make an <br />Guidelines <br />investment in machinery, equipment or real property. <br />Town of North <br />Internal <br />Grants can be up to 90% of a project's taxable <br />up to 10 yrs <br />Industrial & Non - Industrial projects: Grants require a minimum of $1.5 million in new capital <br />Town of North Wilkesboro Incentives <br />Wilkesboro <br />Guidelines <br />value. <br />investment. <br />odf <br />Commercial Development Revitalization Area projects: Grants require a minimum of of <br />$500,000 in new investment. <br />