Tax Advantages

Local Industrial Investment Policies

Currently New Hanover, Pender, and Duplin counties as well as the City of Wilmington have in place an industrial investment policy that grants companies dollars based on several criteria. Assuming all criteria are met, qualifying companies locating in the region can be granted funds based on total investment, quality of jobs created, tax base enhancement, wages and salaries of jobs created. Governmental and elected officials determine on a case-by-case basis whether to award a grant and if so the duration on the grant—typically over a period of five years. No guarantee of grants can be given at this time.

Urban Progress Zones (UPZ) and Agrarian Growth Zones (AGZ)

Municipalities with a population of at least 10,000 have the ability to define qualifying areas of poverty as Urban Progress Zones.  Counties that do not have a municipality with a population of at least 10,000, have the ability to define qualifying areas of poverty as Agrarian Growth Zones.  Projects located within these zones received enhanced Article 3J Credits.

UP Zone Map

Tax Credits:

New Hanover County (Tier 3)

  • Job creation: $750 for each new job (minimum of 15) created paying wages 100% of the applicable wage standard in the county.
  • Investment: 3.5% of the purchase or lease cost of new machinery and equipment, above an investment threshold of $2,000,000.
  • Worker training: 50% of eligible training costs, up to $1,500.
  • R&D: 3% of state’s apportioned share of expenditures.

Pender County (Tier 2)

  • Job creation: $5,000 for each new job (minimum of 10) created paying wages 100% of the applicable wage standard in the county.
  • Investment: 5% of the purchase or lease cost of new machinery and equipment, above an investment threshold of $1,000,000.
  • Worker training: 50% of eligible training costs, up to of $1,500
  • R&D: 3% of state’s apportioned share of expenditures.

Town of Wallace (Duplin County) (Tier 1)

  • Job creation: $12,500 for each new job (minimum of 5) created paying wages 100% of the applicable wage standard in the county.
  • Investment: 7% of the purchase or lease cost of new machinery and equipment, above and investment threshold of $0.
  • Worker training: 50% of eligible training costs, up to $1,500.
  • R&D: 3% of states’ apportioned share of expenditures.

Updated 1/08