State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_143B > GS_143B-437_52

§ 143B‑437.52.  JobDevelopment Investment Grant Program.

(a)        Program. – There isestablished the Job Development Investment Grant Program to be administered bythe Economic Investment Committee. In order to foster job creation andinvestment in the economy of this State, the Committee may enter intoagreements with businesses to provide grants in accordance with the provisionsof this Part. The Committee, in consultation with the Attorney General, shalldevelop criteria to be used in determining whether the conditions of thissection are satisfied and whether the project described in the application isotherwise consistent with the purposes of this Part. Before entering into anagreement, the Committee must find that all the following conditions are met:

(1)        The project proposedby the business will create, during the term of the agreement, a net increasein employment in this State by the business.

(2)        The project willbenefit the people of this State by increasing opportunities for employment andby strengthening this State's economy by, for example, providing workertraining opportunities, constructing and enhancing critical infrastructure,increasing development in strategically important industries, or increasing theState and local tax base.

(3)        The project isconsistent with economic development goals for the State and for the area whereit will be located.

(4)        A grant under thisPart is necessary for the completion of the project in this State.

(5)        The total benefitsof the project to the State outweigh its costs and render the grant appropriatefor the project.

(b)        Cap. – The maximumnumber of grants the Committee may award in each calendar year is 25.

(c)        Ceiling. – Themaximum amount of total annual liability for grants awarded in any singlecalendar year, including amounts transferred to the Utility Account pursuant toG.S. 143B‑437.61, may not exceed fifteen million dollars ($15,000,000).No agreement may be entered into that, when considered together with otherexisting agreements governing grants awarded during a single calendar year,could cause the State's potential total annual liability for grants awarded ina single calendar year to exceed this amount.

(d)        MeasuringEmployment. – For the purposes of subdivision (a)(1) of this section and G.S. 143B‑437.51(5),143B‑437.51(7), and 143B‑437.57(a)(11), the Committee may designatethat the increase or maintenance of employment is measured at the level of adivision or another operating unit of a business, rather than at the businesslevel, if both of the following conditions are met:

(1)        The Committee makesan explicit finding that the designation is necessary to secure the project inthis State.

(2)        The agreementcontains terms to ensure that the business does not create eligible positionsby transferring or shifting to the project existing positions from anotherproject of the business or a related member of the business.  (2002‑172, s. 2.1(a);2003‑416, s. 2; 2003‑435, 2nd Ex. Sess., s. 2.2; 2004‑124,ss. 32G.1(b), 32G.1(c), 32G.1(e); 2006‑168, s. 1.2; 2006‑264, s.69(b); 2009‑394, s. 1.)