Incentives

Pitt County, North Carolina

Incentives


Pitt County will support your success. We understand that the major location driver is cost and that depending on the company and industry, the critical cost factors will vary. There are a number of ways we can help your bottom line and we have many tools to support business; therefore, we create each package based on the needs of the client. We consider the number of jobs, average salary, capital investment, and overall impact to the community. This package can be combined with other sources of financial assistance from local, regional, state, and federal programs.

Pitt County Economic Development can assist companies and their team members in a variety of ways one of which could also be in-kind. Contact us to learn more about these resources.



Pitt County provides an Economic Development Grant for qualifying projects.  The grant is based on a percentage of the net increase ad valorem taxes above the base year prior to new investment for a specific number of years.  For example, an industrial project can be awarded a grant based on 50% of ad valorem taxes for 5 years.  Grants will be disbursed each qualifying year after payment of the annual property tax levy.

We understand that time is money, and the permitting process, both in terms of cost and time can be challenging.  We aim to make this process as seamless and cost effective as possible.  The Pitt County Planning Department and local municipal planning departments are a one-stop review center for building permits.  Permits can be obtained within 10-30 days

Environmental permitting can be obtained within 30-60 days, provided there are no special requirements that would necessitate additional environmental assessment.  One-stop permitting and express permitting are available from the nearby Washington, NC office.

Pitt County can 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.

Pitt County has various utility providers that are also willing to explore cost savings and efficiency measures and incentives with you to create a customized incentives package.

 

  • Need financing?  Let us introduce you to a local banking or financing professional with experience with industrial projects. 
  • Want a Build-to-suit?  We know investors and contractors in our area and beyond with experience in various industries. 
  • Want to lease a building that is for sale?  Our network of investors can be approached about a lease or lease-to-purchase option. 
  • Interested in an Industrial Revenue Bond (IRB)? 

We have an established IRB – Industrial Revenue Bond – Authority if you are interested in exploring this option.  An IRB provides financing to qualifying manufacturing and solid waste disposal facilities through low-interest, tax-exempt bonds. The funds may be used for land costs, facility builds and improvements, and equipment purchases. 

  • Interested in New Market Tax Credits (NMTC)? 

Pitt County has qualified NMTC census tracts.  The New Markets Tax Credit (NMTC) Program permits individual and corporate taxpayers to receive a credit against federal income taxes for making Qualified Equity Investments (QEIs) in qualified community development entities (CDEs).

We have contacts that can help you explore this option if your desired Pitt County site is in a designated NMTC zone.  For more information, use the link below.

New Market Tax Credits Resource Center

  • Want to explore the benefits of an Opportunity Zone

We have industrial sites located in 5 opportunity zones in Pitt County.  The Opportunity Zones Program provides tax incentives for qualified investors to re-invest unrealized capital gains into low-income communities throughout the state, and across the country. Low-income census tracks are areas where the poverty rate is 20 percent or greater and/or family income is less than 80% of the area’s median income.  Contact us for information on how this can be beneficial to your project, or find more information at this link:  NC Opportunity Zone Program

  • Have other ideas?

Pitt County is open to exploring creative new ideas for incentives.  Let us know what is of interest to you.

Here in Pitt County, we believe in collaborative partnerships with the education system, workforce development boards, industries, and other agencies to help support the current and future workforce pipeline.  We will be a partner, facilitator, and liaison in helping your receive the best training and education for your employees.  We are able to provide supplemental financial assistance if all costs are not covered by the State of NC’s Customized Training Program.  In addition, we have one of the largest community colleges, Pitt Community College, and one of the largest universities, East Carolina University, in North Carolina.

As of 2020, Pitt County has been designated a Tier 1 County by the NC Department of Commerce.  This qualifies Pitt County for the highest level of incentives in certain categories. 

County Development Tier System

We will provide a combined package of incentives from local, state, and any other resources that we discover during your site location process.  Pitt County will provide the required matches for State Incentives.  For a list of State of NC Incentives, use the link below:

State of North Carolina Incentives

IN-KIND RESOURCES

Pitt County Economic Development can assist companies and their team members in a variety of ways. Contact us to learn more about these resources.