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Find similar grantsJob Development Investment Grant (JDIG) (North Carolina) is sponsored by State of North Carolina. The JDIG program provides cash grants to companies that create new jobs filled by full-time employees who work on a project in North Carolina. Grant awards are a fixed percentage of withholdings from employee wages.
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Job Development Investment Grant (JDIG) | NC Commerce The Job Development Investment Grant (JDIG) is a performance-based, discretionary incentive program that provides cash grants directly to a company, when the company creates jobs and invests in the state. Grants are awarded only in competitive recruitment or retention situations.
JDIG grants hold companies to strict performance targets, but the grants can significantly help offset the cost of locating or expanding a facility in the state. Grant payments are paid annually over time, for terms of up to 12 years, following a yearly, rigorous performance review conducted by the Departments of Commerce and Revenue.
JDIG awards are calculated by weighing a number of factors, including: The location of the project The county tier designation - more on the state's economic tier system can be reviewed here .
The number of net new jobs created in North Carolina The wages of the jobs, compared to the given county average wage The level of investment made in the state The company's industry sector, and that industry's alignment with the state’s targeted industry sectors. JDIG grant payments are determined using a formula that takes into consideration the new taxes generated by the new jobs that are created.
A percentage of those newly generated funds are reimbursed to the awarded company, for the limited term of the grant and as long as the company meets its performance target.
Special JDIG Grant Categories Criteria & Statutes: Job Development Investment Grant Special JDIG Grant Categories For companies that create 1,750 jobs and invest $500 million in North Carolina, their project is categorized as a High-Yield Project (HYP) , alowing a JDIG grant reimbursing up to 90% of the new personal income withholdings, for a period up to 20 years.
A JDIG Transitional Project allows, at the date of award, for a company to define a second phase of its project, containing higher job creation and investment targets than initally defined for phase 1 of the grant. If the company triggers its second phase option, the Transitional JDIG can then take on Transformative Project properties.
A JDIG Transformative Project award, for a company that creates 3,000 jobs and invests $1 billion in the state, can provide reimbursements up to 90% of the new personal income withholding for a period of up to 30 years. Criteria & Statutes: Job Development Investment Grant Note: A public comment period is now open, offering you a chance to offer comments regarding changes to the JDIG Criteria. The comment period will close at 5:00 p.
m. January 5, 2022. More details on how to participate are online elsewhere on our site .
§ 143B-437. 50. Legislative findings and purpose § 143B-437.
51. Definitions § 143B-437. 52.
Job Development Investment Grant Program § 143B-437. 53. Eligible projects § 143B-437.
54. Economic Investment Committee established § 143B-437. 55.
Applications; fees; reports; study § 143B-437. 56. Calculation of minimum and maximum grants; factors considered § 143B-437.
57. Community economic development agreement § 143B-437. 58.
Grant recipient to submit records § 143B-437. 59. Failure to comply with agreement § 143B-437.
60. Disbursement of grant § 143B-437. 61.
Transfer to Industrial Development Fund Utility Account § 143B-437. 62. Expiration § 143B-437.
63. JDIG Program cash flow requirements This page was last modified on 05/10/2023
According to the current listing, eligibility includes: Businesses that create a minimum number of eligible positions (10-50 new employees depending on development tier area), develop an eligible project (not solely retail), and provide health insurance for applicable full-t…. Confirm the full requirements in the official notice before applying.
Job Development Investment Grant (JDIG) (North Carolina) is funded by State of North Carolina. Verify program details on the funder's official page before applying.
This opportunity targets applicants in North Carolina. If your organization operates elsewhere, check the official notice for location requirements.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.