Pitt County Location Incentives

Assistance Programs Available In Pitt County
For New And Expanding Manufacturing Facilities

A. Site and Utility Improvements

Water, Sewer and Natural Gas Extensions

Pitt County will provide financial assistance to participate in the cost of extending municipal water and sewer as well as natural gas service to the property line of an industrial site for that portion of the lines lying outside the municipal corporate limits. Depending upon the availability of funds, the County may be expected to provide assistance up to an amount equal to the increase in ad valorem taxes for a period of five years resulting from new investments in land, building, and equipment.

1. Railroad Lead Track Extensions
   
   Pitt County has offered, on occasion, to participate in the cost of extending railroad lead tracks to serve industrial sites (based upon the above stated formula) when the lead track has the potential to serve multiple sites (i.e. an industrial park setting) known to be readily available for lease or sale.
   
   

2. Industrial Site Access Improvements
   
   Depending upon the availability of funds, the N.C. Department of Transportation (DOT) will provide funds for access improvements to industrial sites up to a maximum of $1,000 per job created by a new manufacturing facility. In the event a site does not have access to an existing paved road, DOT will participate in the cost of constructing a paved access road to the property line of the proposed site.

B. Employee Screening, Testing, and Training

1. Employment Security Commission
   
   The local office of the Employment Security Commission of North Carolina will screen and test potential employees to determine the most suitable employees for any given occupation at no cost to the employer.  The ESC will also provide, free of charge, turnover and absenteeism consultation as well as conduct confidential employee opinion surveys for the benefit of employers.  www.ncesc.com
   
   

2. Region Q Workforce Investment Consortium
   
   A public-private partnership which administers a five county system of workforce development programs that prepare citizens for the workforce including those who are facing economic disadvantage, job loss, and other barriers to employment. Serving Beaufort, Bertie, Hertford, Martin and Pitt Counties, these programs also provide a central point for employers for listing jobs, applicant screening and development of training systems. The Region Q Workforce Development Board (WDB) develops policy and oversees these programs.

   Region Q provides high support training and other services that result in increased employment and earnings, increased educational and occupational skills and decreased welfare earnings.   These programs are administered through the Mid-East Commission, a regional planning and development commission established by state statute that provides leadership in identifying regional issues and solving regional problems.  For more information visit the Region Q website at www.regionqwdb.org
   
   

3. JobLink Career Center
   
   The Pitt County JobLink Career Center, through On The Job Training (OJT), assists eligible individuals in obtaining private sector employment.  Candidates are screened and assessed for basic skills, aptitudes, and interests before referral to potential OJT employers.  Employers are reimbursed up to 50% of the individual's starting wage rate during the training period.  Trainees are permanent employees of the employer and continue to be so after the OJT contract is completed.  For more information, call the Pitt County JobLink Center at 252-321-4534 or visit their website at www.pitt.cc.nc.us/students/student_services/job_link.html  or at www.regionqwdb.org/PittJL.htm
   
   

4. Pitt Community College (PCC)
   
   Eligibility for new and expanding industry training services is determined on a company-by-company basis.  Typically, the services provided are based on the number of new jobs created, their skill and wage levels, and the level of total capital investment.  Services are made available to companies that create 12 or more new jobs in any one community in North Carolina during a one-year period.

   Companies that have taken advantage of program services are diverse - from auto parts and electronics manufacturers to bio-technology companies and data processing centers.  Training services provided to these companies may include instructors and training program development, customized video training programs, temporary training facilities, equipment, and supplies.

   Pre-Employment Assistance
   Job analysis assistance is available to new and expanding companies through the Community Colleges' Customized Training and Development services.  For many employers, this service is an important resource in determining appropriate employee selection and testing instruments.  To facilitate and expedite the employment process, the program also provides pre-employment training to potential new employees, designed to employer specifications. 
   
   Qualified Instruction and Training
   A statewide network of skilled professionals provides industry-based experience in a variety of technologies and disciplines. The program makes instructors available at no expense to eligible new and expanding companies.  However, sometimes the best instructor for a particular training course may be a company employee.  In this instance, the program can offset the costs of instructor wages, "train-the-trainer" expenses, and travel costs of a negotiated number of company employees that provide start-up training to newly-employed North Carolinians .
   
   Facilities and Equipment
   If a company is not equipped to handle training on-site, employers may utilize facilities at a nearby community college at no expense.  In fact, the program can absorb the costs of locally transporting training equipment to and from the community college training facility.  Companies also have access to one of the most advanced fiber-optic based distance learning systems.  Through the " North Carolina Information Highway ," companies can take advantage of real-time, interactive training opportunities in community colleges across the state. 

   Supplies and Customized Materials
   Support to new and expanding companies includes the costs of training supplies and materials necessary to carry out effective instruction.  In addition, depending on the size and scope of a particular training project, the program will develop customized training materials that may include:  orientation and work process videos; computer based training; and customized training manuals.
   

5. Pitt County Development Commission
   
   The Commission will conduct special labor surveys for serious prospects in order to determine worker availability in particular skills as well as wages and fringe benefits.
   

C. Financing

1. Industrial Revenue Bonds
   
   The Pitt County Industrial Facilities and Pollution Control Financing Authority was established to provide low cost, long-term, fixed asset financing for qualified industrial projects. A qualifying project usually is any manufacturing, fabricating, processing, or assembly operation.  Interest rates are negotiated between the company's agent (bank or placement agent) and the bond buyer. Rates are based on the company credit or the credit enhancement associated with the issue, usually a letter of credit. The rate may be variable or fixed.  The minimum amount for a single issue user is generally $1.5 million; the maximum is $10 million.  There is no maximum amount if the proceeds of the loan are used for pollution abatement equipment.
   
   

2. SBA 504 Loans
   
   The SBA 504 Loan program is tailored to suit small companies seeking fixed asset financing of $7-8 million or less; $12 million or less for manufacturers. The 504 Loan program is designed to provide funds for land, building, and equipment to eligible small businesses by financing up to 40% (not to exceed $1.5 million; $4 million for manufacturers) of project cost through the sale of an SBA-guaranteed debenture. Interest rates are tied to an increment above the current market rate for 5 and 10-year US Treasury issues. The borrower is required to have at least 10% equity in the project, with the private lender providing the remaining portion. The private lender prices its own loan and sets its loan term with the borrower. The Self-Help Ventures Fund (252-752-8866) is the certified packager/servicing agent for loans originating in Pitt County.
   

D. Key Employee Relocation Assistance

1. Furnished townhouses/apartments available at special rates for relocating executives and their families while visiting area.
   
   

2. Volume discounts on "corporate moves" from local moving companies.
   
   

3. Reduced room rates at local hotels for relocating executives while visiting the area prior to moving (including, in some instances, "first night free.").
   
   

4. Special mortgage rates and reduced loan origination fees for key management people.
   

E. Other Forms of Assistance

1. Pitt County will provide temporary office space, if available, for intermittent use by corporate officials during construction/renovation of manufacturing/office facilities, at no cost to the company.
   

F. State Tax Credits (Article 3J)

1. Credit for Investing in Business Property - equals 5% of the excess value above $1,000,000 of capitalized tangible personal property placed in service in Pitt County by eligible new and expanding firms.  The credit is taken in equal installments over the four years after the machinery and equipment is first placed in service.
   
   

2. Credit for Creating Jobs - Eligible firms can take a credit for each new full-time job created in excess of 10 jobs.  The amount of tax credit per job in Pitt County is $5,000 and is taken in equal installments over four years.