Business Investment Grant

Grants based on new job creation and new ad valorem taxable investments made by companies.


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Adopted Priority Areas for Economic Development What is the Business Investment Grant? What is the criteria for evaluating projects? What are the eligible business growth clusters?

The Business Investment Grant (BIG) is a discretionary incentive program that provides cash grants to new and existing businesses that will provide economic benefits to the City of Raleigh, are competitive with other locations, and need the grant to carry out the project in the City. Grants are based on new job creation and new ad valorem taxable investments made by companies.

Adopted Priority Areas for Economic Development

What is the Business Investment Grant?

The Business Investment Grant (BIG) seeks to encourage the creation, retention and/or expansion of new or existing businesses and jobs within the community. The program provides grants to companies, usually based upon the amount of new ad valorem taxable investment to the city generated from the private business investment made. The BIG policy aligns with the goals and objectives of the City of Raleigh’s 2030 Comprehensive Plan and Strategic Plan.

What is the criteria for evaluating projects?

In making a recommendation for grant approval, the City’s Office of Economic Development and Innovation 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. 

Manufacturing
Transportation 
 ​​​​Financial Services and Insurance
Professional Services
Automotive/Transportation Equipment
Truck Transportation
Financial Investment and Related Activities
Professional and Technical Services
Energy Medical Devices
Support activities for Transportation
Credit Intermediation and Related Activities
Back Office Operations
Plastics
Warehousing and Storage
Insurance Carriers and Related Activities
 
Metalworking
Distribution
Funds, Trusts and Other Financial Vehicles
 
Industrial Machinery
 
 
 
Defense and National Security
 
 
 
 Aerospace
 
 
 
Consumer Products and Food Processing
 
 
 
Research and Development Facilities
 
 
 
Information Technology (IT) Design and Creative Industries Emerging Technologies and Industries Biotechnology and Pharmaceuticals
Software Development
Architecture
Clean Technology
Research and Development
Hardware
Art and Design (Animation, Interactive Media, Fashion and Fibers)
Alternative Energy
Manufacturing
Applications
Graphic Design and Industrial Design
Film and Video Production Facilities
Agriculture
Analytics
   
Contract Research Organization (CRO) and Others as Identified by the N.C. Biotechnology Center

 

Contact

 

Beth Friedrich
1 Exchange Plaza, Suite 727
Raleigh, NC 27602
919-996-3134

Lead Department:
Economic Development and Innovation
Service Categories:
Business Recruitment, Retention and ExpansionCommunications and Resources 

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