What is William S. Lee Quality Jobs and Business Expansion Act?

• Tier V tax credits for investments in machinery or equipment (7% of costs over $1 million taken in equal installments over 7 years)
• Creation of new jobs ($500 per job taken in equal installments over 4 years) 
• Worker training (for five or more workers, 50% credit on training expenditures up to a maximum of $500), or research and development
• Administered by the North Carolina Department of Commerce.

Eligibility:
Geography:  Mecklenburg County is eligible for lowest incentive (Tier V), based on unemployment, income and population growth data.

Business type:  Must be manufacturing/processing, warehousing, air courier services, distribution, data processing or central administrative office that creates at least 40 new jobs.  Job and training credits require company to pay 110% of the applicable average weekly wage for the county in which it is located.

Additional Information:
For more information on the William S. Lee quality Jobs and Business Expansion Act contact the North Carolina Department of Revenue
by phone 919-733-3991 or click here visit their website.