Partnering in Your Success with Regulatory and Tax Relief
Investment Grant Program
The Rowan County Board of Commissioners, Salisbury City Council and China Grove Council have been proactively supporting economic development for more than twenty years with an emphasis on tax base development, employer diversification and job creation. They each recognize the need to provide programs and financial support to strengthen and diversify the economy.
The Investment Grant Program is intended to provide an inducement for new businesses to locate in these communities, as well as to encourage existing business to expand. Other communities in Rowan County are also willing to provide incentives to promote business growth on a case-by-case basis. These grants provide a rebate on a portion of the property taxes associated with new construction or equipment on qualifying projects. The amount of the grant is based on a designated percentage level for five consecutive years.
The following criteria will determine each incentive package:
1. Total investment made by the company
2. Number of jobs created
3. Wages paid
Details of these incentives can be found by clicking on the links below:
City of Salisbury Industrial Building Revitalization Grant Program (IBR) – The City of Salisbury may approve grants to encourage the reuse of existing, vacant buildings and to help new owners or tenants make improvements that will directly result in their occupancy. Standard grants reimburse the applicant a maximum of $25,000 or 25% of eligible project costs (whichever is less) for permanent improvements to vacant buildings, utilized for light industrial, warehousing or similar purpose.
City of Kannapolis – Incentives may be available to qualifying businesses looking at moving (or growing in) the City of Kannapolis. In addition to the formal program listed below, the City is also willing to develop partnerships and find strategic ways for the public and private sector to work together, to ensure projects move forward.
Kannapolis provides an industrial incentive grant program to help encourage the expansion or relocation of businesses and industry to the City. These grants are awarded by the Kannapolis City Council working together with the city’s economic development partners, Cabarrus Economic Development and Rowan Economic Development Commission (EDiC) .
Grants considered generally have end uses that include, but are not limited to, corporate headquarters, manufacturing, assembly, fabrication, processing operations, research and development, motorsports facilities, warehouse/distribution or office buildings.
The incentives generally:
- Have minimum capital investment of $3 million
- Grant equivalent to 85% of real and personal property tax paid
- Have a grant award period of three (3) consecutive years
The City also partners with developers and businesses on major projects on a case-by-case basis. These often include partnerships in construction of public infrastructure.
For more details or information on reinvestment project incentives, please contact Director of Economic & Community Development Irene Sacks at firstname.lastname@example.org or 704-920-4326.
Thank You To Our County and Municipal Partners.