Assistance Programs Available In Pitt County For New And Expanding Manufacturing Facilities
A. Site and Utility Improvements
1. Water, Sewer and Natural Gas Extensions
Pitt County will provide financial assistance to participate in the cost of extending municipal water and sewer as well as natural gas service to the property line of an industrial site for that portion of the lines lying outside the municipal corporate limits. Depending upon the availability of funds, the County may be expected to provide assistance up to an amount equal to the increase in ad valorem taxes for a period of five years resulting from new investments in land, building, and equipment.
2. Railroad Lead Track Extensions
Pitt County has offered, on occasion, to participate in the cost of extending railroad lead tracks to serve industrial sites (based upon the above stated formula) when the lead track has the potential to serve multiple sites (i.e. an industrial park setting) known to be readily available for lease or sale.
3. Industrial Site Access Improvements
Depending upon the availability of funds, the N.C. Department of Transportation (DOT) may provide funds for access improvements to industrial sites based on the number of jobs created by a new manufacturing facility. In the event a site does not have access to an existing paved road, DOT may participate in the cost of constructing a paved access road to the property line of the proposed site.
NOTE: Some communities offer sites at prices below fair market value.
B. Employee Screening, Testing, and Training
1. NC Department of Commerce Workforce Division
At local workforce offices across the state, employers can take advantage of many free programs and services to recruit qualified, job-ready employees; help provide on-the-job training; and negotiate customized training programs tailored to a company’s needs.
Local workforce offices provide services including, but not limited to, the following:
- Computer and internet access
- Information on local labor market, prevailing wages, tax credits, etc.
- Listing of job openings
- Job applicant screening and qualified candidate referrals
- Space for applicant interviews
- Reference library
- Employee training resources
- Layoff/closure prevention services for employers and transitional services for employees
- Arrangement for Job Fairs
- Employer workshops on a variety of topics
For more information, visit:
Pitt County Career Center
3101 Bismarck Street
Greenville, NC 27834
2. Region Q Workforce Investment Consortium
A public-private partnership which administers a five county system of workforce development programs that prepare citizens for the workforce including those who are facing economic disadvantage, job loss, and other barriers to employment. Serving Beaufort, Bertie, Hertford, Martin and Pitt Counties, these programs also provide a central point for employers for listing jobs, applicant screening and development of training systems. The Region Q Workforce Development Board (WDB) develops policy and oversees these programs.
Region Q provides high support training and other services that result in increased employment and earnings, increased educational and occupational skills and decreased welfare earnings. These programs are administered through the Mid-East Commission, a regional planning and development commission established by state statute that provides leadership in identifying regional issues and solving regional problems. For more information visit the Region Q website at www.regionqwdb.org
3. Pitt Community College (PCC)
The North Carolina Community College System’s Customized Training Program provides customized training assistance in support of full-time production and direct customer service positions created in the State of North Carolina, thereby enhancing the growth potential of companies located in the state while simultaneously preparing North Carolina’s workforce with the skills essential to successful employment in emerging industries. The program is designed to react quickly to the needs of businesses and to respect the confidential nature of proprietary processes and information within those businesses.
Those businesses and industries eligible for support through the Customized Training Program include Manufacturing, Technology Intensive (i.e., Information Technology, Life Sciences), Regional or National Warehousing and Distribution Centers, Customer Support Centers, Air Courier Services, National Headquarters with operations outside North Carolina, and Civil Service employees providing technical support to US military installations located in North Carolina.
In order to receive assistance, eligible businesses and industries must demonstrate two or more of the following criteria:
- The business is making an appreciable capital investment;
- The business is deploying new technology;
- The business is creating jobs, expanding an existing workforce, or enhancing the productivity and profitability of the operations within the State; and,
- The skills of the workers will be enhanced by the assistance.
Resources may support training assessment, instructional design, instructional costs, and training delivery for personnel involved in the direct production of goods and services. Production and technology support positions are also eligible for training support.
Full-time probationary employees of qualified Customized Training companies are eligible for training delivered by the community college.
The use of Customized Training funds requires that trainees are paid by the company for all time during training hours.
4. Pitt County Development Commission
The Commission will conduct special labor surveys for serious prospects in order to determine worker availability in particular skills as well as wages and fringe benefits.
1. Industrial Revenue Bonds
The Pitt County Industrial Facilities and Pollution Control Financing Authority was established to provide low cost, long-term, fixed asset financing for qualified industrial projects. A qualifying project usually is any manufacturing, fabricating, processing, or assembly operation. Interest rates are negotiated between the company’s agent (bank or placement agent) and the bond buyer. Rates are based on the company credit or the credit enhancement associated with the issue, usually a letter of credit. The rate may be variable or fixed. The minimum amount for a single issue user is generally $1.5 million; the maximum is $10 million. There is no maximum amount if the proceeds of the loan are used for pollution abatement equipment.
2. SBA 504 Loans
The 504 Loan program is designed to provide funds for land, building, and equipment to eligible small businesses by financing up to 40% (not to exceed $5 million; $5.5 million for manufacturers) of project cost through the sale of an SBA-guaranteed debenture. Interest rates are tied to an increment above the current market rate for 5 and 10-year US Treasury issues. The borrower is required to have at least 10% equity in the project, with the private lender providing the remaining portion. The private lender prices its own loan and sets its loan term with the borrower. The Self-Help Ventures Fund (252-752-8866) is the certified packager/servicing agent for loans originating in Pitt County.
D. Key Employee Relocation Assistance
1. Furnished townhouses/apartments available at special rates for relocating executives and their families while visiting area.
2. Volume discounts on “corporate moves” from local moving companies.
3. Reduced room rates at local hotels for relocating executives while visiting the area prior to moving (including, in some instances, “first night free.”).
4. Special mortgage rates and reduced loan origination fees for key management people.
E. Other Forms of Assistance
1. Pitt County will provide temporary office space, if available, for intermittent use by corporate officials during construction/renovation of manufacturing/office facilities, at no cost to the company.
F. State Tax Credits (Article 3J) – Sunsets January 1, 2014
1. Credit for Investing in Business Property – equals 5% of the excess value above $1,000,000 of capitalized tangible personal property placed in service in Pitt County by eligible new and expanding firms. The credit is taken in equal installments over the four years after the machinery and equipment is first placed in service.
2. Credit for Creating Jobs – Eligible Pitt County firms that meet a minimum threshold of 10 new jobs during the taxable year may claim a credit for each new job created. The amount of tax credit per job in Pitt County is $5,000 and is taken in equal installments over four years following the year the jobs are created.
To qualify for the Article 3J credits, job creation or investment must occur at an establishment whose primary activity is one of the following: 1) aircraft maintenance and repair; 2) an air courier services hub; 3) a company headquarters (creation of at least 75 jobs within 24 months); 4) a customer service call center; 5) an electronic shopping and mail order house; 6) information technology and services; 7) manufacturing; 8) a motorsports facility; 9) a motorsports racing team; 10) research and development; 11) warehousing; or 12) wholesale trade.
In addition, a taxpayer must satisfy general eligibility requirements by: 1) meeting wage standards published by the Department of Commerce; 2) providing health insurance for all full-time employees at the credit-qualifying establishment and cover at least 50% of health care premiums; 3) having a good environmental record; 4) having a good OSHA record; and 5) having no overdue tax debts with the State.
The credits are allowed against the franchise tax, the income tax, and the gross premiums tax. The taxpayer may divide a credit between the taxes against which it is allowed. The total of all credits may not exceed 50% of the cumulative amount of taxes against which they are allowed for the taxable year, reduced by the sum of all other credits against those taxes. Unused credits may be carried forward for the succeeding five years (20 years for investments of $150,000,000 over two years).
Additional information on the Article 3J credits is available on the Department of Revenue website at www.dornc.com.