AG 2007 06 18 - Laserfiche WebLink

Home Browse Search

I " '. the type of industry as a further diversification of the county's business base . . the size and scope of the proj ect ba§ed upon investment in site development, facilities; buildings and other business infrastructure inclusive of technology .. . the diversity, quality and quantity of jo6s created by a project and the availability of labor inclusive of job retention and retraining opportunities • the relationship between workforce development and total project investment . . the potential for future expansion of investment and empioymenf .. site specific issues impacting upon pdblic infrastructure .. . actions fhat if pursued, stimulate deveIopment in areas of the county deemed beneficial . the ratio of investment in real versus personal property assets . the environntental impact of the project .' issues of significanY importance related to a particular project III. PiZ03ECT QUALIFICATIONS A primary intent of tha INDUSTRIAL DBVELOPMENT GRANT PROGRAM is to expand and diversify the county's property tax base. Minimum investment and employee wage factoz criteria may be established as a requirement for consideration and awazd of a grant for eligible projects. These criteria are used as guidelines in project evaluarions. They may be expanded upon or added to for a specific project and incorporated in the. terms of the formalized grant awazd agreement between the partioipants.. . Minimum total project investment (based upon the estiruated project real and persomal propezty assessments to be confirmed by the counry assessor) Small Corporate Headquarters grant category -$3 million Level lgrant category -$ 5 million Level 2 grant category -$50 million Level 3 grant category -$l0U million Small Corporate Headquarters grant - a special granY category for a business Yhat has a minimum total project inuestment of $3 million, but less than $5 miIlion, which brings its corporate headquarters to Cabarrus County. The gcant is based upon a project's e5timated tax revenue generation value, calculated to equate to approximately 50% of the vaiue of real and personal property tax revenue value anticipated to be generated by xhe project. The value for rea] property inveshnents shall be calculated based on a period of four (4) consecutive years 3 l~ ~