Industrial Development Fund (North Carolina)
Last modified on February 12, 2015.
|Place|| North Carolina
|Applies to States or Provinces||North Carolina|
|Name||Industrial Development Fund (North Carolina)|
|Policy Category||Financial Incentive|
|Policy Type||Grant Program, Loan Program|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Tidal Energy, Wave Energy, Wind energy|
|Implementing Sector|| Local
|Program Administrator||North Carolina Department of Commerce|
|Primary Website|| http://www.nccommerce.com/research-publications/incentive-reports/industrial-development-fund
|Last Review|| 2014-09-15
The Industrial Development Fund provides financing grants and loans through designated municipalities and counties to assist in infrastructure improvements for targeted industrial projects. The local government reserves the funds and proposed projects are eligible for grants, but the local government must match the state funding 3:1. Project owners must demonstrate a commitment to generating jobs and present a business plan.
1) Pertaining to Basic IDF financing and the Utility Account financing there is no local match requirement if the project is located in a county that has one of the 25 most economically distressed ranking.
2) All grantees must comply with North Carolina Environmental Policy Rules in the North Carolina Administrative Code unless the activity is a non-major activity.
|Contact Name||Mark Poole|
|Department||Department of Commerce|
|Division||Commerce Finance Center|
|Address||4318 Mail Service Cente|
|Place||Raleigh, North Carolina|
|Phone|| (919) 733-4907