N.C. incentive program makes work-from-home change
A state economic development committee voted Tuesday to alter North Carolina’s most lucrative incentive program to allow for the counting of work-from-home employees toward fulfilling eligibility requirements.
The change was made by the Economic Investment committee in response to the COVID-19 pandemic’s influence on companies having more employees work from home.
The change was made for just 2020 and 2021.
Employers have previously been able to utilize remote workers.
Job Development Investment Grants are project location-specific, requiring employees working from home-offices to be based in North Carolina.
The number of such workers must be specifically included in the terms of a given grant agreement in order to be eligible.
“This modification is being put in place in anticipation of grantees having increased numbers of work-from-home employees, the committee said. “It does not change eligibility requirements for the program or allow for out-of-state workers.”
Triad economic group gains $2.2M for business loans
The Piedmont Triad Regional Development Corp. said Tuesday it has received $2.2 million in federal CARES Act funding to supplement economic development efforts in the region.
Eligible are small businesses affected by the COVID-19 pandemic in the following counties: Alamance, Caswell, Davidson, Davie, Forsyth, Guilford, Montgomery, Randolph, Rockingham, Stokes, Surry and Yadkin.
The micro-loan response fund will give priority considerations to downtown and agriculture businesses.
Loans will be available for working capital.
Applicants are encouraged to apply for a five-year, non-forgivable, interest-free loan ranging from $2,500 to $50,000.
Loans below $10,000 may be eligible to qualify for a personal guarantee.
Loan amounts above $10,000 will require additional collateral.
For more information and to apply, go to www.ptrc.org/microloan.
Davie industrial park debuts speculative building
Davie Construction Co. said Tuesday it has completed a 12,000-square-foot speculative building in the 40-acre BCM Industrial Park.
The company plans to occupy 3,500 square feet, with the rest available for lease.
The park is on U.S. 64 three miles east of downtown Mocksville. About 20 acres are undeveloped, six acres are zoned for highway business, and 14 acres are zoned for L2 light industry.
The park is in an opportunity zone. Opportunity zones are economically distressed census tracts qualified to receive private investments through a new vehicle known as opportunity funds.
The goal is connecting those tracts with investors, offering tax credits and other tax incentives to get investors involved.
The company said there are 10 lots remaining in the park.
For more information, contact Carl Carney at email@example.com or 336-940-6600, ext. 1004.
Hanesbrands board declares 15-cent dividend
The board of directors of Hanesbrands Inc. declared Tuesday a regular quarterly cash dividend of 15 cents per share.
The dividend is payable Sept. 1 to shareholders registered as of Aug. 11.