ANSON ECONOMIC DEVELOPMENT PARTNERSHIP
The only way to know for certain whether your company qualifies for local incentives is to contact AnsonEDP at (704) 694-9513 and discuss the specifics of your situation. To prepare for that conversation or to get a general idea of whether you qualify, consider the following questions:
In order to qualify for local incentives, the business must locate or expand in the county or within the town limits.
Our industrial tax grant programs are designed to encourage the growth of manufacturing and logistics support. We do not currently offer incentives for retail, restaurant or most other types of service businesses. Certain types of industry-related service businesses, such as call centers and back office operations may qualify for assistance. These determinations are made on a case-by-case basis.
The minimum investment threshold for both the Anson County and Town of Wadesboro programs is $3 million. It is important to understand that this figure refers to NEW taxable investment, not the dollar amount the company invests. For instance, if a company buys an existing building for $2 million, invests $1 million in upgrading that building and adds $2 million in capital equipment, the company's investment for incentive purposes would be $3 million, not $5 million.
In order to qualify for tax grant incentives, you must create a minimum of 10 new full time jobs which pay an average of 10% above the current county wage standard. The standard is currently set by the state at $15.33, so the qualifying figure is $16.86. Remember that this is an average of all jobs, so if you have 8 employees making $15/hour, a supervisor making $20/hour and a plant manager making $30/hour, the average for the new jobs would be $17/hour and you would qualify even though the majority of your employees make less than the average.
In order to qualify for tax grant incentives, you must pay at least 50% of your full time employee's enrollment in a qualifying health care plan.