Yancey County Incentives
The Yancey County Local Business Investment Grant Program is intended to provide an inducement for new business to locate in Yancey County and encourage existing business to expand.The Yancey County board of Commissioners has supported economic development for many years with an emphasis on tax base development, employer diversification, and job creation. The Commission has recognized the need to provide programs and financial support to strengthen and diversify the County’s economy. Tax base development is a key concern for the County’s fiscal health. It is essential not only to attract new investment but also to encourage existing business to expand and reinvest in their Yancey County operations.
Read the Yancey County Local Business Investment Grant Program document for full details:
North Carolina Incentives
There are incentives offered by the state of North Carolina to companies who locate or expand their businesses in Yancey County. Being classified as a Tier 1 County by the North Carolina Department of Commerce provides additional incentives, plus tax considerations for qualified companies who locate here.
- One North Carolina Fund – helps recruit new business or with expansion of existing business/industry. These funds can be used for repairs or structural upgrades, equipment purchases or installation, infrastructure improvements (water, sewer, gas, electric).
- Job Development Investment Grants (JDIG) are discretionary incentives that provide annual grants to new or existing business/industry and is based on withholding taxes paid by new employees and company must meet rigorous guidelines to qualify.
- The North Carolina Department of Revenue and North Carolina Department of Commerce administers many of the financial incentive programs offered in North Carolina and further detailed information can be found on website at www.nccommerce.org or www.ncrevenue.
- Workforce Development and Training is offered through North Carolina Department of Commerce to new and expanding business/industry in Yancey County. This training is customized for your business with training and retraining of employees to learn skills required for the 21st Century jobs. Mayland Community College Yancey Campus is available for training.