Leverage local incentives to jumpstart small business growth.
The small business development grant program is designed to stimulate small business growth in Wilkes County and North Wilkesboro. It is targeted to smaller businesses in a wider range of sectors. The grant is based on taxable investment, job creation, and wages. There is a maximum number of grants awarded each fiscal year.
Eligibility
| Minimum Requirements | |
|---|---|
| Job Creation | 5 |
| Investment | $250,000 in taxable improvements including business personal property – grant is paid as a reimbursement for expenses paid |
| Wages | 100% of Wilkes County average three-digit NAICS of the company |
| Industry Sector | All manufacturing, services, research and development, distribution, headquarters, back office, transportation, and outdoor economy sectors. Tourism, retail, and restaurant businesses that are locally owned and headquartered are eligible. |
Project Investment Guidelines
The Small Business Development Incentive Grant is $5,000 payable after the company completes the new investment equaling $250,000 or more and makes their first tax payment on the new investment.
Eligible Uses
- Site acquisition
- Site preparation
- Internal site infrastructure
- External infrastructure
- Other improvements to the site
- Building renovation and upfit – examples: roof repair or replacement, electrical work including upgrading HVAC, equipment repairs and replacement, energy efficiency upgrades, improving restroom facilities, flooring, and structural repairs.
- Job training costs not otherwise reimbursed by grants from the Community College system or tax credits pursuant to the state statute
- Other purposes which leave value in the community as determined by the Board on a project-by-project basis
- If the existing business expansion is equipment only, all of the eligible uses above must be exhausted before it can be spent on machinery and equipment.