Incentives

The State of North Carolina, the County of Surry and the four municipalities partner in proactively identifying Incentive and Grant opportunities for relocating and expanding companies based on the new taxable investments including new construction, facility up-fit, and investments in machinery and equipment as well as new job creation.

The State of North Carolina currently provides discretionary and tax incentives to qualifying businesses in Surry County based on its Tier 1 designation.  The state’s incentives are described as follows:

• Governor’s One Fund

• Job Development Investment Grant

• Article 3J Credits

• Research and Development, Ports, Rail, Tax Credits

• Green Business Fund

• Sales and Use Tax Exemptions, Refunds and Discounts

• Community Development Block Grants

• Industrial Revenue Bonds

The County of Surry historically partners with the municipalities to develop an incentive agreement based on a case-by-case project to maximize the overall incentive opportunities and usually with a matching component.  The municipality and County incentives are described as follows:

• Land

• Property Tax Incentives

• Infrastructure Assistance

• Some Negotiable Fees

• Matching Grant Programs

 North Carolina’s Community College Systems and Workforce Development Boards offer economic development tools for job creation with training and recruiting through regional and local community colleges.  The Surry Community College Customized Industrial Training Program allows for new grants and continual employee training based on the company’s training plans and needs.  (Amounts vary depending on project and job creations and approved by state appointee.) 

Also, the County of Surry and the municipalities will pursue other grant opportunities through Golden Leaf Foundation and the North Carolina Rural Center based on the project specifications. Business & Industry can pursue government and military procurement opportunities by taking advantage of Surry’s county-wide HUB zone designation.

A detailed description of these incentives can be found at the North Carolina Department of Commerce Web site at www.nccommerce.com.

Article 3J Tax Credit

Discretionary One North Carolina  Fund

Economic Development Contact Handbook

Foreign Trade Zone

Growing Small Businesses

Industrial Revenue Bonds

NC State Ports Tax Credit

Research and Development Tax Credit

Renewable Energy Tax Credit