Incentives & Taxes

State Incentives

North Carolina’s performance-based incentive programs help companies that are locating and doing business in the state by reducing the tax burden and lowering overall costs to the company.

County Tier Designations

The North Carolina Department of Commerce annually ranks the state’s 100 counties based on economic well-being and assigns each a tier designation. The tier system is incorporated into state programs to encourage economic activity in the counties. Nash County is a Tier One designation, which is the most lucrative status when applying and qualifying for North Carolina incentives.

Job Development Investment Grant

The Job Development Investment Grant (JDIG) is a performance-based incentive program that provides cash grants directly to new and expanding companies to help offset the cost of locating or expanding a facility in the state. The amount of the grant is based on a percentage of the personal income tax withholdings associated with the new jobs.

The JDIG has a Transformative Project provision, which can provide a grant worth up to 90% of personal income withholdings for up to 30 years, for any company that creates 3,000 jobs and invests one billion dollars. Visit EDPNC incentives to learn more about this opportunity.

One North Carolina Fund

One NC is a discretionary cash-grant program that allows the Governor to respond quickly to competitive job-creation projects.

Local Incentives

There are a number of local incentive programs available to qualifying companies looking to invest in Nash County.

Foreign Trade Zone (FTZ)

The NC FTZ #214 offers individuals and businesses in Nash County the opportunity to import foreign goods and raw materials into a duty-free zone. FTZs allow companies dealing in foreign trade to delay payment of U.S. Custom’s import duties until their goods and merchandise actually enter U.S. commerce.

Industrial Land Discounts

Qualifying companies can receive a reduction in the sale price of county-owned land.

Investment Incentive

Qualifying companies can receive a 50% reimbursement of real and business personal property taxes associated with new construction and equipment for five years.

Nash County Retail & Small Business Incentive Program

Nash County created the Retail & Small Business Incentive Program to aid in the recruitment of new and expanding small businesses. The program allows for broad development of small business to the county and provides incentives to existing small businesses for expansion. This program is funded annually on a first-come, first-serve project basis, and funds are eligible to be used as reimbursement for capital improvements made to real estate or infrastructure.

Opportunity Zone

An Opportunity Zone is a program to attract investment capital into low-income areas of the county. Opportunity Zones offer qualified investors certain tax benefits when they invest unrealized capital gain into the designated area of the county.

Workforce Development & Training

The NC Works Turning Point Workforce Development Board and Nash Community College provide no-cost customized employee recruitment, screening, training development, and training delivery for eligible new or expanding businesses.

There are many other benefits of doing business in Nash County to fit the needs of your project. Contact us for additional information.

Low cost of doing business in Nash County

Taxes

North Carolina and Nash County understand the need for a stable, business-friendly, and transparent tax structure. Nash County’s cost-effective tax structure makes it a choice location for any company looking to establish a presence or expand their footprint.

Property Tax (per $100 Valuation)

Sales Tax

North Carolina Corporate Income Tax – 2.5% (Lowest Corporate Tax Rate in the Unites States)