North Carolina Direct Financial Incentives 2012 | North Carolina, One North Carolina Fund, Article 3J Tax Credits, SBIR/STTR Small Business Technology Funding

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North Carolina Direct Financial Incentives 2012

North Carolina's economic development, finance, and tax organizations provide a range of incentive programs to initiate new business and commercial investment. Specific programs include the One North Carolina Fund, Job Development Investment Grants (JDIG), and the Access Road Improvements Program.

Area Development Online Research Desk (2012)

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State corporate and franchise tax credits available:
Article 3J Tax Credits
Provide tax credits to qualifying businesses for job creation, investment in business property and in some cases investment in real property.

Technology Development Tax Credit
Provide tax credits for qualified North Carolina research expenses during a taxable year.

Interactive Digital Media Tax Credit
Provide a tax credit to North Carolina taxpayer that develops interactive digital media (IDM) within the state.

Renewable Energy Tax Credits
Provide a tax credit of 35% of the cost of renewable energy property.

N.C. Ports Tax Credits
Provide tax credits toward income taxes paid by businesses or individuals using ports facilities at N.C. Ports at Morehead City and Wilmington.

Qualified Business Investment Tax Credit
Program allows tax credits against individual income tax for qualifying investments made by individuals and pass-through entities in the equity securities or subordinated debt of a qualified business.

Film incentives
Provide tax credits and sales and use tax discounts to encourage film and television production in North Carolina.

Discretionary Programs:
One North Carolina Fund
Awards grants for job creation and/or retention in conjunction with local government matches.

Job Development Investment Grant
Provides a limited number of cash grants to new and expanding businesses that will provide economic benefits to the state and are competitive with other locations, and need the grant to carry out the project in North Carolina.

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.

Other Cost-Saving Programs and Resources:
Foreign Trade Zones
Provide opportunities to defer, reduce and/or eliminate import duties.

Community Development Block Grants and Industrial Development Fund
Provide grants and loans for infrastructure development to eligible local governments.

North Carolina Rural Center
The Rural Center administers the N.C. Economic Infrastructure program and Building Reuse and Restorations Grant which provides funding to local governments for infrastructure and building projects.

Recycling Business Assistance Center
Provides grants, tax credits and loans to businesses involved with recycling in North Carolina.

Industrial Revenue Bonds
Provide tax-exempt financing for eligible new or expanded manufacturing facilities, certain solid waste disposal facilities and sewage disposal facilities.

Road Access and Rail Access Programs
Provide funds for the construction of roads and rail access to new or expanded industrial facilities.

North Carolina Biotechnology Center
Provides loans and matches to help leverage larger financial awards for biotechnology companies.

North Carolina State Contact:
North Carolina Department of Commerce
301 N. Wilmington Street
4310 Mail Service Center
Raleigh, NC 27699-4310
(919) 733-4151

Incentive and tax information is provided to Area Development by each state's economic development or commerce agency for information purposes only and is subject to revision at any time by the state government. Please contact the state agency directly for full requirements and offerings.

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