JDIG awards are discretionary "deal closing" grants that are intended to close the gap against competing project sites outside of North Carolina. Awards amounts are calculated as a percentage of a company's new employee state payroll taxes created over a multi-year period (typically 20% to 70% of new employee payroll over 12 years). For projects creating 1,750 jobs (or more) and investing $500MM (or more), special High Yield Project and Transformational Project designations enable substantially larger JDIG awards (90% of employee state payroll tax refunded to the business for 20-30 years). Grants are higher for projects that have larger numbers of jobs with higher pay, are in targeted areas or operate in priority industries. As a discretionary incentive, it's important to keep your project competitive with out-of-state sites and reserve making a final site decision until after a grant has been awarded.

Many projects that qualify for JDIG awards also qualify for other sources of subsidized financing, allowing developers and project sponsors to combine incentives. These additional subsidies include tax credits and grants, along with government debt. These incentives can be sourced from federal, state and local governments and are best negotiated early in the funding process. Contact Us to learn more.