Business Investment Grant

Adopted Priority Areas for Economic Development

What is the criteria for evaluating projects?

In making a recommendation for grant approval, the City will consider various factors, including whether there is demonstrated competition from other cities and whether the company’s planned relocation or expansion enhances the economic profile of the priority area given the company’s product and market.

Business Investment Grants are subject to final approval by the full City Council. Any grant awarded is performance-based and tied to job creation and new ad valorem taxable investment to the city generated from the private business investment made.

Grant recipients will be encouraged to hire residents of Raleigh and to use local small, minority and women-owned businesses when such goods or services can be obtained at competitive prices. This supports the city’s Minority and Women-owned Business Enterprise initiatives.

City Council has, at its sole discretion, the ability to provide a grant to a business that is not reflected in the Business Investment Grant policy but has a positive impact on the City of Raleigh.

What are the eligible business growth clusters?

Companies from the identified business growth clusters that are relocating or expanding to or within the program’s geography may be eligible for participation in the program. Includes corporate, divisional, and regional headquarters as well as industries that create synergy with programs of focus at local colleges and universities.