AN ACT TO MODIFY MULTILOCATION PROJECT ENHANCEMENT FOR THE JOB DEVELOPMENT INVESTMENT GRANT PROGRAM; AND TO REPEAL A PROVISION CONCERNING CONFESSION OF JUDGMENT.
Adds new provisions to GS 143B-437.56A, which governs multilocation projects under the Job Development Incentive Grant (JDIG) Program, as follows. Mandates a 10% increase of the annual grant approved for disbursement payable to a qualifying business. Provides that the amount of the increase is not to be used in calculating award limitations under the program. Sets qualifications for the increase, including (1) that the business was awarded the grant for locating a company headquarters, (2) that the business announces during the base period for relocation from another state to a development tier one or two area a manufacturing operation of the business or a business that controls, is controlled by, or is under common control of the business, (3) the relocation will result in the business creating a number of positions to be filled by new full-time employees in the State equal to or greater than the applicable minimum number of jobs required by law under JDIG (10 for tier one, 20 for tier two, 50 for tier three), and with withholdings equal to or greater than the amount of the bonus permitted under the statute for multilocation projects, and (4) the positions required are filled for the year in which the annual grant is increased.
Amends GS 143B-437.56 to no longer provide for the JDIG grant amount for projects located in more than one area designation to be based on the percentage of the withholdings of eligible positions for the location with the highest area designation. Maintains the percentages of 80% for tier one areas and 75% for tier two areas.