The Economic Infrastructure Program provides funding for the construction of public infrastructure to a site, in order to enable a company to locate or expand. The N.C. Department of Commerce annually ranks the state's 100 counties based on economic well-being and assigns each a tier designation. The 40 most distressed counties are designated as Tier 1, the next 40 as Tier 2 and the 20 least distressed as Tier 3. This tier system is incorporated into the Economic Infrastructure Program to encourage economic activity in the less prosperous areas of the state.
Funding levels are based on the criteria below, as long as a sufficient number of jobs is committed to support the requested amount. Up to $12,500 per full-time job, maximum award of $500,000 Project is located in a Tier 1 or Tier 2 county; Company type is represented in the program's Priority Industry Table; New jobs will meet the county wage standard, and The company will provide health insurance and pay at least 50% of the premiums for participating employees. Up to $10,000 per full-time job, maximum award of $500,000: Project is located in a Tier 1 or Tier 2 county.
Eligible Recipients Detail:
Eligible applicants are local governments in North Carolina. Priority is given to projects in a Tier 1 or Tier 2 county, or a rural census tract in a Tier 3 county.
Last Mile Connectivity; Middle Mile Connectivity; General Infrastructure (Attache to Job Creation)
Eligible Purpose Detail:
The Economic Infrastructure Program provides funding for the construction of public infrastructure to a site, in order to enable a company to locate or expand. Infrastructure must be publicly-owned and maintained. The applicant must demonstrate that the project is expected to lead to job creation in the near future Eligible uses include:
-Upgrade or repair of public drinking water or wastewater treatment plants
-Upgrade, extension or repair of public water or sewer lines
-Extension of publicly owned natural gas lines (with an executed pipeline construction, operating and resale agreement)
-Installation or extension of public broadband infrastructure
-Construction of publicly owned access roads not owned or funded by the North Carolina Department of Transportation
-Construction of public rail spur improvements
Cash match equivalent of at least 5% is required by the participating company.