Surry County Incentives
We offer a wide variety of incentives.We have two types of business incentives
The Surry County Economic Development Partnership helps new and existing companies understand the incentive and grant process. We have extensive knowledge about state and local programs. Historically, there are two types of incentives and grants a company could apply for: programs offered at the state level, and/or programs offered at the local level.
Our organization will help determine if your company is eligible, and will assist you through the process. All incentive and grant programs are contractual at both the state and local level; they are also performance based, meaning your company must invest money and create jobs before you receive the incentive. Please contact our organization to learn more.
Surry County has two Opportunity Zones for your business
Your business gets tax breaks in three ways
Investments made by qualified entities known as Opportunity Funds into certified Opportunity Zones will receive three key federal tax incentives to encourage investment in low-income communities including:
- Temporary tax deferral for capital gains reinvested in an Opportunity Fund
- Step-up in basis for capital gains reinvested in an Opportunity Fund
- Permanent exclusion from taxable income of long-term capital gains
Zoom in and explore each zone
Learn more here
Incentives for starting or building your business in Surry County
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 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:
- One NC Fund
- Job Development Investment Grants
- Infrastructure Grants
- Sales and Use Tax Exemptions, Refunds and Discounts
- Building Reuse Grant
- 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 based on the project specifications.
A detailed description of these incentives can be found at the North Carolina Department of Commerce Web site at www.nccommerce.com.
Testimonials
Contact Us
Surry County Economic Development Partnership Inc.
190 Virginia Street, Mt. Airy NC 27030
PO BOX 7128
336.401.9900
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