Bill Summary for S 834 (2021-2022)
|View NCGA Bill Details||2021|
AN ACT TO EXPAND AVAILABILITY OF AWARDS FROM THE JOB MAINTENANCE AND CAPITAL DEVELOPMENT FUND.Intro. by Newton, Harrington.
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Adds to the eligibility criteria for grants from the Job Maintenance and Capital Development Fund in GS 143B-437.012 to include businesses that are supply-chain-impact manufacturing employers. Sets four criteria for qualification as a supply-chain-impact manufacturing employer, including that (1) the product manufactured is used primarily and significantly in the construction of residential and commercial buildings with the manufacturer investing in its process to transition away from coal-based energy byproducts; (2) the Department certifies that the business has invested or intends to invest at least $110 million of private funds in improvements to real property and additions to tangible personal property in the project within five years of beginning the investment; (3) the business and its affiliates employ at least 420 full-time employees or equivalent contractors in the State at application, and agree to maintain those employees for the grant term; and (4) the business operates in a development tier two area at the time of application and agrees to maintain or increase the area operations for the term of the agreement.
Regarding the wage standard required for grantees, adds that for an agreement with a business and its affiliates, the wage standard is satisfied if (1) the pay for employees located in the lowest development tier is at least equal to 140% of the average wage for all insured in the county, and (2) the pay for all other employees is at least equal to 140% of the greater of the average wage for all insured in the county where the position was located at the time of agreement, or if the position is transferred to another area in the State, the average wage for all insured in the county to which the position is transferred. Maintains the existing wage standard for all other agreements, requiring a business to pay an average weekly wage that is at least equal 140% of the average wage for all insured private employers in the county.
Increases the cap on the number of agreements the Department can enter into under the statute from seven to eight, and increases the total aggregate costs of all agreements under the statute at $159 million (was, $154 million).