From all indications the economy looks to be on the mend, at least for many of the businesses on the Eastern Seaboard which includes Currituck, North Carolina. There are new developments in many areas of Currituck County and the local government knows the best way to keep that development growing is by giving them good reasons to come. Luckily there are several great business incentive programs that are already in place to offer anyone who wants to establish a new business, expand their present one or relocate from their current location to Currituck, North Carolina.
Work Force Expansion - Job Development Investment Grants
This is a program that is run by the State of North Carolina. The Currituck Economic Development Agency can assist companies who are interested in this discretionary incentive program through their network of business centers throughout Currituck County. This program can assist businesses that are looking to relocate to currituck north carolina or expand, if they meet the following criteria:
• They are looking to increase employment and the local opportunity for employment.
• Their plans will help to strengthen the state’s economy.
• Their plans for relocation or expansion are within the economic development goals of North Carolina and Currituck County.
• This relocation or expansion will be competitive with another state or county.
• They can show how this grant is necessary for their expansion in Currituck, North Carolina or relocation.
There are some additional guidelines that companies interested in expanding their current Currituck, North Carolina business or relocating to currituck co will need to adhere to, but the Currituck County Redevelopment Agency can work with these businesses to help them become and stay compliant for the grant program.
Structural Improvements - One North Carolina Fund
This is a one-time grant to Currituck, North Carolina companies that are considering expanding or businesses relocating to Currituck, North Carolina to make their business more competitive with other companies outside of North Carolina. For industries that are considered high quality, value added and knowledge-driven enterprises, this grant can create an opportunity to expand on their current physical location in Currituck, North Carolina and cover a significant portion of the following:
• Purchasing and/or installing new equipment
• Renovations to existing Currituck, North Carolina buildings including structural repairs or improvements
• The improvement or construction of existing buildings that facilitates new or existing water, gas, sewer, or electrical distribution including lines or equipment.
There are additional program requirements including the agreement to an average wage test and Currituck County Economic Development Agency will work with the businesses to arrange matching funds from the county.
Housing – Community Development Block Grants
For developers considering low and moderate income housing in Currituck, North Carolina, The Department of Housing and Urban Development (HUD) provides, through the state of North Carolina, funding to enhance the vitality of communities through affordable housing. These block grants are primarily awarded to local governments in areas that are either cities with a population under 50,000 or counties with a population under 200,000. Currituck County falls easily within these parameters. Currituck, North Carolina projects are funded under the following categories:
• North Carolina Catalyst – for the development of low and moderate income housing
• Economic Development – for creating and retaining jobs
• Scattered Site Housing – for addressing critical needs of very low-income housing
• Small Business Entrepreneurial Assistance – for struggling small local businesses
• Neighborhood Stabilization – assisting repurchase and/or redevelop foreclosed homes
Since these funds are handled at the county and city level, the Currituck County Economic Development Agency will work directly with Currituck, North Carolina businesses interested in developing projects that fall under these block grants.
Other Opportunities
In addition to these larger business incentives programs, Currituck County Development Agency can assist Currituck, North Carolina businesses in discovering more about how custom workforce training programs through our local college and training facilities can help you meet your workforce needs. In addition, Currituck North Carolina offers several machinery and equipment tax credit programs as well as sales and use tax relief for those that qualify.
These kinds of programs offer the chance for existing and new Currituck, North Carolina businesses to expand or relocate here in Currituck County, and can offset the investments it takes in both real and personal property. Currituck County Redevelopment Agency can help your business to find the program that will assist you the most to stay competitive, strong and growing here in beautiful Currituck County, North Carolina.
For more Contact:
Think Currituck
P153 Courthouse Road, Suite 207
Currituck, NC 27929
Phone: 252-232-6015
http://www.thinkcurrituck.com/
