Industrial Development Fund (North Carolina)

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Last modified on February 12, 2015.

EZFeed Policy

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
Active Policy Yes

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



Summary

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.

Selected requirements:

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.



Policy Contact

Contact Name Mark Poole
Department Department of Commerce
Division Commerce Finance Center
Address 4318 Mail Service Cente

Place Raleigh, North Carolina
Zip/Postal Code 27699-4318
Phone (919) 733-4907


Email mpoole@nccommerce.com
Website http://www.nccommerce.com/research-publications/incentive-reports/industrial-development-fund/application-process
     
     


















References