Local Incentives Programs

Industrial Development Incentive Program (IDIP) – Iredell County

Iredell County, in cooperation with Harmony, Love Valley, Mooresville, Davidson, Statesville or Troutman, may provide various financial incentives for companies seeking to locate or expand a business into Iredell County. This incentive program is designed to stimulate development by offsetting up-front costs associated with an industry location or expansion.

The scope of the incentive package will be based on the following criteria: Capital investment of at least $3 million, creation of quality jobs with pay higher than the county’s average wages, and environmental cleanliness.

Click to read more ...

State Incentives

State Incentives: NC Commerce Incentives

Article 3J Credits -

Article 3J Tax Credits offer several types of tax credits to eligible taxpayers that undertake qualifying initiatives. These credits may be used to offset up to 50% of the taxpayer’s state income and/or franchise tax liability, and unused credits may be carried forward for up to five years.
Article 3J offers credits for:

* Creating jobs – Companies who meet a minimum threshold of new fulltime jobs created during the taxable year may claim a credit.
* Investing in business property – Companies can claim a credit based on a percentage of the cost of capitalized tangible personal property that is placed in service during the taxable year.

Click to read more ...