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3 <br />;uideIines for the North Carolina Industrial Recruitment Comvetitiv <br />L In order for a company to be considered for assistance from the NC Industrial <br />Recruitment Competitive Fund, local units of government must have agreed to provide <br />matching financial assistance to the. company. This fund is intended to be used in the <br />form of challenge grants to foster public/private partnerships. <br />2. Funds will be used as follows: <br />a) for the installation or purchase of new production equipment; the renovation of, <br />improvement to, or repair of existing buildings; or the construction of utility <br />service distribution lines in existing or new buildings; and <br />b) the construction of, or improvement to, new or existing publicly owned water, <br />sewer, gas, or electric systems owned and operated by regulated private utility <br />companies. <br />3. Each project considered will be assigned to a developer in the Business/Industry <br />Development Division within the N.C. Department of Commerce. That developer will <br />be responsible for the completion of the application form and obtaining signatory <br />commitments from the company and the community seeking the grant. <br />4. The application will provide data on investment, job creation and weighted hourly <br />average wage for the jobs created. <br />5. The company will guarantee that new jobs will not be due to the transfer of jobs from <br />existing North Carolina operations. If the company has previously announced the <br />closing of a facility that is still in operation but scheduled to close in the near future, <br />details regarding how these plants are related should be included. <br />6_ The company will provide information about its environmental history. Industrial <br />Recruitment Competitive Fund money will be released after the N.C. Department of <br />Commerce receives verification from the company that the project has all of its required <br />environmental permits. An endorsement of this project's application by the N.C. <br />Department of Commerce does not override any of this facility's obligations under <br />existing environmental statutes. <br />7. The application will provide detailed financial data about the company. A Commerce <br />Department Review Comrruttee (made up of the Assistant Secretary of Administration, <br />the Assistant Secretary of Economic Development and the Director of the Commerce <br />Finance Center) will review each application to determine whether the financial strength <br />of the company involved is sufficient to manage the project. <br />8. The completed application must be submitted to the N.C. Department of Commerce at <br />least 30 days prior to the time a decision is needed. A full application must be submitted <br />and approved prior to a formal project announcement. <br />