ANNOUNCED AS TEMPORARYNo
On September 30, 2015 the governor of North Carolina signed a bill (HB117) known as the North Carolina Competes Jobs Plan. The principal element of the bill is an expansion in the Job Development Investment Grant (JDIG) program, a performance-based, discretionary incentive 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 bill increased the amount that may be committed in JDIG awards, as well as modifying and extending the JDIG program. According to a budget analysis, the state’s maximum liability under the bill will rise to $780 million through Fiscal Year 2030-31, with the potential liability (based on program experience) ranging from $243.7 million to $640.5 million.
Among the other elements in the bill are a sales tax exemption on sales of datacenter equipment and electricity located and used at the datacenter for datacenters investing at least $75 million within a five-year period.
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