Cumberland County has adopted an Economic Development Inducement and Investment Policy that makes available to qualifying companies on a case-by-case basis performance-based financial support. This policy provides assistance to both new and expanding industry in Fayetteville and Cumberland County.
Companies meeting the qualifications may receive a financial grant measured against the investment return to the County generated from a new investment in building and/or equipment. The County Board of Commissioners will consider each project on a case-by-case basis with grants typically running from three to five years. The project must meet certain threshold requirements. No guarantee of grants may be given until the review process is completed. Meeting these requirements does not automatically qualify a company for a grant.
MINIMUM PROJECT QUALIFICATIONS
Threshold 1:
Existing Firms $ 1,000,000 Investment AND 5 Created Jobs
New Firms $ 2,500,000 Investment AND 25 Created Jobs
Threshold 2:
Existing Firms No Minimum Investment BUT 20 Created jobs
New Firms No Minimum Investment BUT 100 Created jobs
BUT IN EITHER CASE:
The wage levels of the jobs created must equal at least 100% of the average
wage paid in the County for that industry sector.
QUALIFYING TYPES OF OPERATIONS
The project must involve a facility to be used for:
- manufacturing
- distribution
- corporate or divisional headquarters
- air courier hub
- research/development
- back office operations (e.g. telemarketing, call center, check clearing, etc.) utilization of high technology or innovative new technologies
HOW GRANTS MAY BE UTILIZED
Grants may be applied for:
- site acquisition
- site preparation
- internal site infrastructure
- external infrastructure
- other improvements at the site
- job training cost not otherwise reimbursed by grants from the community college system
- tax credits pursuant to the state statute
- other purposes which leave value in the community as determined on a case-by-case basis by the County Board of Commissioners
For more
information about the County incentive programs, please contact:
Phyllis M. Owens, CEcD
Cumberland County Business Council
201 Hay Street, 4th Floor
Fayetteville, NC 28301
(910) 484-4242 ext. 246
(910) 483-4042 fax
www.ccbusinesscouncil.org
| 
