Knightdale's economic development incentives policy is designed to stimulate economic activity, create new jobs and further the Town's efforts to achieve a 60% residential and 40% non-residential tax distribution.
To qualify for the grants, the minimum investment is $5,000,000 of new, taxable buildings and equipment. Generally, the policy grants one-percent of the total investment of new or expanded actual tax value of the building and equipment as the maximum grant amount.
The one-percent will be applied to the value of the project as presented on the first tax bill that is based on a complete 12 month period for the new value, after completion of the project, unless negotiated otherwise. The reimbursement begins at 95% of the new property tax revenue the first year, 85% the second year and 75% for all subsequent years until the maximum incentive amount is met or five years, whichever comes first.
Additional grants may be provided for locating your corporate headquarters in Knightdale.
Your business is important to us. We look forward to hearing from you.
Senior Planner - Long Range