INCENTIVES

Incentives

Anyone can push incentives. Winston-Salem, Forsyth County sets itself apart in how area businesses, government agencies, organizations, and community leaders work together to develop incentive programs. The result is an approach to incentives that makes sense for businesses relocating or expanding and the community.

Local Tax Credits and Incentives

Both Forsyth County and Winston-Salem have written guidelines for economic development incentives. Local incentive support is based on net new capital investment and job creation. Each project is reviewed on a case-by-case basis, but history has shown that our community is aggressive in pursuing the right deals. Winston-Salem Business Inc. coordinates all local incentive requests with City/County staff prior to taking the request to the public bodies. If you would like to see what may be available to your company, please give us a call 336.723.8955.

Discretionary Programs

  • 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 need the grant to carry out the project in North Carolina.
  • One North Carolina Fund – Awards grants for job creation and/or retention in conjunction with local government matches.
  • 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.
  • Site and Infrastructure Grant Fund – Provides assistance for site development and infrastructure improvements for very high-impact projects.
  • Job Maintenance and Capital Development Fund – Provides a limited number of grants to businesses with at least 2,000 employees, which are located in Development Tier 1 counties and which invest at least $200 million in capital improvements, providing economic benefits to the State.

 

Incentives links
NC Department of Commerce https://edpnc.com/relocate-or-expand/incentives/

 

Other Cost-Saving Programs

  • Foreign Trade Zones – Provides opportunities to defer, reduce and/or eliminate import duties.
  • Industrial Revenue Bonds – Provides tax-exempt financing for eligible new or expanded manufacturing facilities, certain solid waste disposal facilities and sewage disposal facilities.
  • Community Development Block Grants and Industrial Development Fund – Provides grants and loans for infrastructure development to eligible local governments.
  • Road Access and Rail Access Programs – Provides funds for the construction of roads and rail access to new or expanded industrial facilities.
  • Recycling Business Assistance Center – Provides grants, tax credits and loans to businesses involved with recycling in North Carolina.
  • North Carolina Biotechnology Center – Provides loans and matches to help leverage larger financial awards for biotechnology companies.
  • Film iNCentives – Provides tax credits and sales and use tax discounts to encourage film and television production in North Carolina.