Local Incentives

Harnett County

Overview
The Harnett County Economic Development Commission, in cooperation with the governing body of Harnett County, may provide financial incentives for companies seeking to expand or relocate in Harnett County. The incentive program is designed to stimulate development in Harnett County by creating new investments and new jobs with higher wage rates.

Harnett County Economic Development Incentive (EDI) Grant Program
The EDI Grant involves a contractual agreement between the County and a new or existing business/ industry that would allow for a financial incentive grant based upon the actual value, schedule and payment of county property taxes for a period of up to seven (7) years. The County will require the business/ industry to pay in full annually total property taxes due. If the business/ industry has met specific criteria as outlined in a formal agreement, a portion of the property tax paid by that business/ industry to the County for up to seven (7) consecutive tax years would be returned to the business/ industry. The terms of the Grant will be based on the amount of investment. Each project will be considered on an individual basis using guidelines established under the direction of the Harnett County Board of Commissioners.

Municipal Incentives

Each of Harnett County's municipalities has agreed to match the terms of the County incentive grant for projects located within their corporate limits.

Municipal Economic Development Incentive (EDI) Grant Program

The EDI Grant involves a contractual agreement between the town and a new or existing business/ industry that would allow for a financial incentive grant based upon the actual value, schedule and payment of town property taxes for a period of up to seven (7) years. The town will require the business/ industry to pay in full annually total property taxes due. If the business/ industry have met specific criteria as outlined in a formal agreement, a portion of the property tax paid by that business/ industry to the town for up to seven (7) consecutive tax years would be returned to the business/ industry. The terms of the grant will be based on the amount of investment. Each project will be considered on an individual basis using guidelines established under the direction of the town’s Board of Commissioners.

Investment Threshold and Terms

Harnett County may also provide an EDI Grant based upon the number of jobs created at an average salary level of 110% of the average weekly wage* for the County. The amount of the Grant shall be recommended by the EDC office and approved by the Harnett County Board of Commissioners, subject to a public hearing.

* *Harnett County average weekly wage for 2012 is $526.

To see an incentive example, click here.

Utilities Incentives

Progress Energy

Web Site: www.progress-energy.com/
(800) 452-2777

Progress Energy offers a variety of rates and incentives for industrial clients based upon demand, consumption and operating characteristics. Progress Energy offers two riders that may apply to new electrical customers.

1. The Economic Development Rider provides a reduced rate schedule over five years for qualifying customers adding a minimum of 1 megawatt electrical load.

2. The Economic Redevelopment Rider, which is new in 2003, provides a 50% rate discount in one year for qualifying businesses that move into a vacant facility served by Progress Energy.

Central Electric Incentives

Web Site: www.centralelectriconline.com/
(919) 774-4900, ext.112

South River Electric Incentives

South River EMC has the flexibility of specialty rate design, as well as incentive packages per applicable operation. BUSINESS DEVELOPMENT LOAN FUNDS may also be available.

Web Site: www.sremc.com/
(910) 892-8071

Natural Gas Incentives

Piedmont Natural Gas Company

Web Site: www.piedmontng.com/
1-800-752-7504

To create additional gas load and to attract an industrial plant or facility, Piedmont Natural Gas may sell natural gas at discounted rates to induce an industrial or large commercial customer to locate in Harnett County. If criteria are met, the following rate discount would be offered for a five year term: