| Title |
One North Carolina Fund |
| Agency |
Department of Commerce
Commerce Finance Center
|
| Web |
http://www.nccommerce.com/en/BusinessServices/LocateYourBusiness/WhyNC/Incentives/OneNorthCarolinaFund/ |
| Description |
The One North Carolina Fund (formerly the Governor's Industrial Recruitment Competitiveness Fund) was created in 1993 to help North Carolina achieve its stated goal of economic growth through uniform regional prosperity. The fund helps the state achieve this goal by recruiting and expanding quality jobs in high value-added, knowledge-driven industries, and by providing financial assistance to those businesses or industries deemed by the Governor to be vital to a healthy and growing State economy and that are making significant efforts to expand in North Carolina. The applicant company must agree to meet an average wage test. Local units of government (city or county) must have agreed to provide matching financial assistance to the company. |
| Grantee Eligibility |
The fund currently consists of nonrecurring appropriations made by the N.C. General Assembly for companies seeking to undertake new expansion or locate new operations in the state. The fund is competitive and the location or expansion must be in competition with another location outside the state. Companies can receive money for 1)Installation or purchase of equipment; 2) Structural repairs, improvements, or renovations of existing buildings to be used for expansion; 3) Construction of or improvements to new or existing water, sewer, gas or electric utility distribution lines, or equipment for existing buildings. |
| Fund |
24609-2560 |
| State |
$12,500,000.00 |
| Federal |
Federal Amount not specified |
| Other |
Other Amount not specified |
| Funding Year |
FY2010-2011 |
| Keywords |
business development, economic development, job creation |
| Assistance |
project grants |
|