Economic Development Incentives
FY 2023 Program Summary
DESCRIPTION
The Cabarrus County Board of Commissioners use incentive grants, as authorized by the North Carolina General Statutes, to encourage new business investment within the County through the location of new or the expansion of existing operations. In some instances, the local incentive grants are supported by the Department of Commerce with state economic development grants. The state incentives require the local match but when combined the grants offer greater leverage to attract new investments to the community. The main goals of the economic development investments are to diversify the tax base, offer improved employment opportunities for citizens and promote the economic growth and welfare of the business community. The Economic Development Incentives program has assisted in bringing major corporations to Cabarrus County, along with encouraging expansions of several existing corporations and renovation of historical properties.