The State of North Carolina and Cabarrus County offer several tax credits, competitive grants and discretionary funds to attract businesses to the region.
Cabarrus County and City of Concord Economic Development Grant Programs
Cabarrus County, the City of Concord and the State of North Carolina offer competitive grants, financial assistance and training programs for new and existing companies. The County will structure the grant based upon the capital invstement. The minimum threshold is $1.5 million of new capital investment. The City/County will provide a grant of 85% of the taxes paid for three (3) consecutive years.
Click here for more information on the Cabarrus County grant.
Click here for more information on the City of Concord grant.
Below is a listing of four tax credits available through the NC Department of Commerce for businesses in Cabarrus County.
Article 3J Tax Credits - Provides tax credits to qualifying businesses for job creation, investment in business property and in some cases investment in real property.
Research and Development Tax Credits - Provides tax credits for qualified North Carolina research expenses during a taxable year.
N.C. Ports Tax Credits - Provides tax credits towards income taxes paid by businesses or individuals using ports facilities at N.C. Ports at Morehead City and Wilmington.
Renewable Energy Tax Credits - Provides a tax credit of 35% of the cost of renewable energy property.
Click here for more information on the incentives offered by the Economic Development Partnership of North Carolina.
Below is a listing of four specific discretionary programs available through the NC Department of Commerce for business in Cabarrus County. If you qualify, we are available to assist you through the process of obtaining these funds.
Job Development Investment Grant (JDIG) - Provides a limited number of cash grants to new and expanding businesses that will provide economic benefits to the State, and need the grant to carry out the project in North Carolina.
One North Carolina Fund - Awards grants for job creation and/or retention in conjunction with local government matches.
SBIR/STTR Small Business Technology Funding - Awards matching funds to firms who have been awarded a SBIR/STTR Phase I award from the federal government.
Site and Infrastructure Grant Fund - Provides assistance for site development and infrastructure improvements for very high-impact projects.