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Available Properties

Property Address Town Type Description Contact Phone/email Additional Comments
N. Trade Street Tryon Retail-R Mini mall, parking lot4500sf John Gargulio 828-859-5279 renovated space
90 Pacolet St Tryon Retail-R 1600sq ft 2 story Nowell Guffey 828-817-1711
78 N Trade St Tryon Retail-S 3816 sf 2 levels renovated Betty Oates 828-606-5896
0 S Trade St Tryon Lot-S 25′ x 120′  by UpStairs Alan Pruette 828-817-1868
509 S Trade St Tryon Comm-S Metal/brick bldg parking Madelon Wallace 864-316-3484
255-B Trade St Tryon Retail-R 950sf parking renovated Fredricks Jewel 828-859-3101
255-C Trade St Tryon Retail-R 1100 sf left space Fredricks Jewel 828-859-3101
62 Trade St Tryon Retail-R 2345 sf upper/1340 lower Ken Shull 828-894-0869
157 N Trade St Tryon Retail-R 525 sf + utilities Bob Morgan 828-859-2255
163 N Trade St Tryon Retail-R 1100 sf + utiliteis Bob Morgan 828-859-2255
75-A S TradeSt Tryon Retail-R 400 sf office Alan Pruette 828-817-1868
75-C S Trade St Tryon Retail-R 5 room suite 1200 sf Alan Pruette 828-817-1868
South Trde Building Tryon Retail-R 2000 sf office Alan Pruette 828-817-1868
Tryon Federal Bldg Tryon Retail status unknown TD Bannk Ann Nagle 828-859-2867
289 S Trade St Tryon Retail-S 4 large office suite TD Bank Ann Nagle 828-859-2867 old TRHC bldg, TD bank owned
1005 S Trade St Tryon Retail-R 6000 sf old Family Dollar Berry Garrett 864-862-3501
20 Jervey Rd Tryon Retail-S/R retail office condo 621 sf 2nd New View Realty 828-859-5952
1161 S Trade St Tryon Retail-S/R retail heated showroom Footills Realty 828-859-1255
Hwy 176 Tryon Office-R Town Country bldg Town & Country 828-859-9187
590 S Trade St Tryon Retail-S brick on slab foundation WWE 864-457-2448
93 Horseshoe Curve Rd Tryon Comm-S Multi purpose 80,000 sf Tony Bonitati 864-678-5994 proposed luxury lofts 80,000 sf
106 Club Rd Tryon Comm-S Red Fox CC 3000 sf bldg Alan Pruette 828-859-9715 18 hole golf course  190 ac
376 Herbert Page Rd Tryon Land-S 73.30 ac MU zoning Prudential 828-551-9406 organice vineyard blueberries utilties
65 Mimosa Lane Tryon Comm-S Inn on 4 ac Carolina Cottages 828-692-7939 old Mimosa Inn
874 S. Trade St Tryon Comm-S/L 4000 sf  1800 finished office Bill Wilkerson 828-749-1910 old AuditHead bildg 1200 unfinished, 1.8 ac
222 E Mills St Columbus Retail-S 1200 sf + vacant warehous Ron Piccari 828-606-7441
 Courthouse & Mills St Columbus Retail-S 3 spaces New View Realty 828-859-5952
192 E Mills St Columbus Retail-S restaurant + 5 sm apts Whitney Comm 828-606-7441
6431 Hwy 9 S Columbus Retail-S/R Pierce plaza, 5 units=land Town&Country 828-859-5806
2954 Hwy 108 E Columbus Comm-S/R 5 ac w/ house 800 ft frontag Town&Country 828-859-5806 also 2.7 ac cleared commercial land available
2881 Hwy 108 East Columbus Comm-S/R office w warehouse dock Jim Smith 864-583-8150
I-26 & Hwy 108 Columbus Comm S petrol station Keith Moore 803-744-6845
2060 Hwy 108 Columbus CommRetai 10 units Valley Plaza Bob Scruggs 828-859-6028 retail/office new strip center
190 Industrial Park Dr Columbus Ind Comm units for lease 1200-8500SF Charlie Brown 800-775-0355×17 5 units @1200 sf ($750/mo) 1 unit 8000sf 4.50 sf
Mills Street Columbus Retail-R Dunn’s Commons Dan Dunn 239-593-6598
801 W. Mills St Columbus Office Columbus Prof Ctr office Kim Karaman 828-817-3314 1125 sf
816 W Mills St Columbus Office Executive Ctr 5 offices avail Donna Bond 828-606-4247 Old ReMax suite-upstairs
Hwy 108 Skyuka Center Columbus Comm end space 1250sf Providence Land 704-906-1202
2676 Hwy 108 E Columbus Comm prev nursery-S 3 ac log cabin Ann Carter 828-697-2772 3 green houses plus 3 BR log cabin
Hwy 108 & I-26 Columbus Comm 3.45 ac land utilities on exit Phil Feagan 828-894-3541
250 W Mills St Columbus Comm R Columbus Plaza Dewey Properti 828-548-0090×2 Former Carolina First bank, 2600 sf
155 W. Mills St Columbus Retail-R strip center, anchor Larkins Dewey Properti 828-548-0090 1882 sf available Space 108,109,111,201
799 W Mills St Columbus Office-S office park12,755 sq ft Sheelah Clarkson 828-694-1558 3 buildings 4500sf  4600 sf
Shuford Dr Columbus Comm 3600sf Mike Karaman 828-817-3314 sale or lease old NC Credit Union bldg
Timken Building back Columbus Comm unused portion of bldg Jim Liggett 828-894-6229 need complimentary businees, Timken buys
Columbus Park Exec Columbus Office Ret 120-500sf, parking Dan Dunn 239-593-6598 Artistry Above bldg
7500 Hwy 9 N MSpring Comm-S/R Sm block bldg 4.3 ac, Indus WWE 864-457-2448
Hwy 108 MSpring Industrial Woodland 200K sf docks CBRE 864-527-6053 Docks both ends, centrally located
Hwy 9 & 108 Mspring Land available for development Dan Dunn 239-593-6598 Land on hwy 108 for development
2512 Hwy 108 Lynn Office 3 floors of 1800 sf +800 Pat Martin 828-859-7653 all new renovation central air
Chamber Bldg Lynn Office single office 150sf Mike Karaman 828-817-3314 shared bathrooms
1913 Lynn Rd Lynn Comm/Ind 4 units, parking, 5000 sf Mike Cacioppo 864-266-0468 old Auction bldg
2060 Lynn Rd Lynn Office Retail Valley Plaza, 11 units Mt View Devel 800-775-0355×17 Charlie Brown dev.
Skyuka Center Lynn Office Retail Skyuka Ctr end unit 1250 sf Providence Land 704-906-1202 site of Tryon Mt Hdwe
2512 Lynn Rd Lynn Office 600 sf inc water internet Pat Martin 828-859-7653 office space in tanning bldg
435 E Main St Saluda Office log cabin 3120sf .67ac Saluda Real Est 828-749-9181 zones C-2
I-26 Exit 59 Saluda Land wooded comm tract 1.68ac Saluda Real Est 828-749-9181 city water & sewer available
US Hwy 176 E Saluda Land close to city, .57ac Saluda Real Est 828-749-9181 driveway graded in-water line nearby

 

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Business Resource Guide

Small Business is Good Business
Although not intended as a step-by-step guide to operating a business, the Polk County Business Assistance Guide will help direct you to information sources and agencies you must contact before you can open your doors for business. The growth of small and home-based businesses has initiated certain regulations that you must meet in conducting business from your home or within certain areas.

Many resources are available on these topics at public libraries, public and private agencies, and nonprofit associations that foster small business development, as well as on the Internet. Where possible, this guide provides contact information for these resources.

Polk County and its municipalities, Columbus, Tryon and Saluda, require certain procedures be met before opening a business. Once you have selected the legal form of your business (Proprietorship, Partnership or Corporation) and the nature of your business (Retail, Wholesale, Manufacturing, Service, Agriculture), then you are in a position to contact the various offices referred to in this resource guide.

I. Building Permits / Zoning
In the event that any new construction is involved in establishing your business, you must obtain a permit. Businesses located in the county should contact the Polk County Inspections Office. Zoning and sign ordinance information may also be obtained through this office. New businesses moving into existing buildings will require a permit for change of use. Home occupations will require a permit. The Polk County Planning Office can be of assistance for all of these procedures.

II. Business Privilege License
Polk County does not require a business license, nor does the town of Tryon. Columbus and Saluda do require a business license before commencing operations. Information about obtaining a license can be obtained at the town halls of Columbus and Saluda. Your business located in Polk County may be subject to property tax.

Occupational licenses may be required for certain businesses (hairdressers, construction trades-electricians, plumbers, etc.), while restaurants, stores handling food, lodgings, and others require a Health Department inspection.

A business license is also required by the state of North Carolina. Information about the State Privilege License can be obtained from the local office of the NC Dept. of Revenue. Furthermore, if the business is to be operated under an assumed name, you should register the business with the Polk County Register of Deeds.

III. Taxes
The proper handling of your taxes is vital to your business. The first major tax matter involved is reporting your income to the Federal Government. Accordingly, you should contact the local office of the IRS. The IRS office can also provide tax guidance information about the many aspects of business taxation.

If your business is a corporation, you will need to report your income to the state (corporate income tax).

Every retail operation must obtain a tax number from the NC Dept of Revenue and collect sales tax at the rate of 8% on gross dollar sales. This tax must be paid to the NC Dept of Revenue by the 15th of every month. Polk County and the towns levy personal and property taxes. Property taxes are paid annually on equipment, office furnishings, supplies and inventory.

Annually, Polk County requires a Business Personal Property listing form be completed and filed with the Tax Assessor’s office. This listing should include, for example, any business equipment, furniture, etc. owned by your business.

Lodging businesses are required to collect Occupancy Tax. Filing forms are available at the tourism office at the First Peak Visitors Center in Columbus.

IV. Employer Guidelines
Apply for an employer identification number at the NC Dept of Revenue and the IRS. Both offices will provide information about withholding employee wages and the IRS will provide information about Social Security procedures.

Every employer will need to contact the NC Employment Security Commission about the Unemployment Insurance.

Workmen’s Compensation Insurance can be obtained through your insurance agency.

V. Other Resources
Isothermal Community College 828-894-3092

Service Corp of Retired Executives (SCORE) 828-693-8702

JobLink/ESC 828-245-9841

Business Link North Carolina www.blnc.gov

Small Business Center Network 828-227-3504

VI. Government Agencies

Polk County
Town of Columbus www.columbusnc.com

Town Hall 828-894-8236

Town of Tryon www.tryon-nc.com

Town Hall 828-859-6655

Town of Saluda www.cityofsaludanc.com

Town Hall 828-749-2581

Polk County www.polknc.org

Health Department 828-894-8004

Building Inspections Office 828-894-3739

Tax Office 828-894-8954

Register of Deeds 828-859-8450

Isothermal Region

Isothermal Planning and Development 828-287-2281

North Carolina
NC Dept of Revenue

877-308-9103 www.dor.state.nc.us

Employment Security Office (Rutherford office)

139 E. Trade St, Forest City, NC 28043 828-245-9841

NC Dept of Labor

919-733-7166 www.nclabor.com

Small Business & Technology Development Center,

Asheville Office 828-251-6025 www.sbtdc.org

US Government
Internal Revenue Service, 151 Patton Ave, Asheville, NC 28801

828-271-4764

US Small Business Adm, NC District Office 704-344-6563

Your Partners in Success
Your Bank

Your Accountant

Your Insurance Agency

Property Insurance

Liability Insurance

Workman’s Compensation Insurance

Alternate Funding Sources
SBA 7(a) Loans:
$5M maximum. 85% guaranty for loans of $150,000 or less; 75% guaranty for loans of greater than $150,000. Term loan for expansion, renovation; new construction, purchase land or buildings, equipment, lease-hold improvements; working capital; seasonal line of credit; inventory. Must be a for profit business and meet SBA standards. Long term financing, fixed maturity, no balloons, no repayment penalty under 15 years. 800-827-5722 www.sba.gov

SBA Express Loan: Maximum loan of $350,000 which may be used for revolving lines of credit or for a term loan. Loans of $50,000 or less have interest rates of prime+ 6.5% and loans over $50,000 are prime+ 4.5%. Fast turnaround, streamlined process and easy to use line of credit. 800-827-5722 www.sba.gov

SBA Patriot Express Loan: Maximum loan of $500,000 with use of proceeds same as SBA Express. Small business must be owned by veteran or active duty military or spouse or widow. 800-827-5722 www.sba.gov

SBA Small Loan Advantage: Maximum loan of $250,000. Lender must be in Preferred Lender Program. 800-827-5722 www.sba.gov

Mountain BizWorks: Provides financing to help launch or expand a small business with loans up to $250,000. Their loans include flexible term loans and lines of credit. Mountain BizWorks provide funding when traditional bank are unavailable. The organization emphasizes cash-flow analysis, not just credit or collateral. www.mountainbizworks.org

USDA Rural Development: Provides financial and technical resources in rural areas in order to support community and economic development opportunities, as well as improve quality of life issues.

NC Rural Center Microenterprise Loan Program: works with individuals who have sound ideas for starting or expanding a small business but may not qualify for bank loans. The most popular product — an express loan available in amounts up to $5,000 —can get a loan decision within three business days. The loans are offered in combination with business planning and technical assistance. This loan program gives special emphasis to serving rural, low-income, female and minority borrowers. 919-250-4314 www.ncruralcenter.org

Advantage West’s Advantage Opportunity Loan: Revolving loan program www.advantagewest.com

Self Help Ventures Fund: Provides loans from $1000 to several million. Serves small to medium-sized businesses and non-profits. Partners with US SBA to offer some loan programs. 800-476-7428

Region C Development Corp Inc: a non-profit corporation partnering with the US Small Business Administration and private sector lenders to provide growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings. www.regionc.org

Area Resources
Advantage West

www.advantagewest.com 828-687-7234

Blue Ridge Entrepreneurial Council www.brecnc.com

Carolina Foothills Chamber of Commerce

www.carolinafoothillschamber.com 828-859-6236

First Peak Visitors Center/Polk County Tourism

www.discoverfirstpeak.com 828-894-2324

Polk County Economic Development Commission

www.ourpolk.polknc.org 828-894-2895

Tryon Downtown Development Association

www.downtownTryon.org

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Incentives

State and Federal Incentive Programs

Article 3J Credits: Article 3J provides two types of tax credits to eligible taxpayers that undertake qualifying activities in North Carolina.
1. Credit for Creating Jobs: Eligible taxpayers that meet a minimum threshold of new full-time jobs created during the taxable year may claim a credit for each new job created. The credit is taken in equal installments over four years following the year the jobs are created. The job threshold and the credit amount per job are determined by the tier designation of the county in which the jobs are created. Currently for Polk County, 10 jobs must be created paying at or above the wage standard of $563/week to qualify for tax credits equaling $5,000 per new job created.
2. Credit for Investing in Business Property: Eligible taxpayers may claim a credit based on a percentage of the cost of capitalized tangible personal property that is placed in service during the taxable year, in excess of an applicable threshold. This credit is taken in equal installments over four years, beginning the year after the property is first placed in service. The current threshold for Polk County is $1million and the credit percentage is 5%.

Job Development Investment Grant: Provides a percentage up to 75% (designated by the Economic Incentive Committee) of employee state income tax receipts per full-time job created, for approximately 10 years. The employee salary must meet the average wage standard of $625 per week and the company must provide health insurance. There are a limited number of grants given each year and each request must be approved first by the NC Department of Commerce and second by the Economic Investment Committee for businesses.

One NC Fund: Provides funds for the purchase of equipment, structural repairs, improvements or renovations of existing buildings, for expansion and construction of or improvements to new or existing water, sewer, gas or electric utility distribution lines, or equipment for existing buildings. Moneys may also be used for construction of or improvements to new or existing water, sewer, gas or electric utility distribution lines, or equipment to serve new or proposed industrial buildings used for manufacturing and industrial operations. Funding is provided at the discretion of the Governor, usually provided on an amount for each full-time job created, which is determined by the NC Department of Commerce and the Governor. Factors considered include economic impact, strategic importance to the state, region or locality, quality of jobs, quality of industry and project, and environmental impact.

Community Development Block Grant: Provides funding for infrastructure such as water, sewer and roads for businesses committed to a site.* In Polk County CDBG provides $12,000 per each full-time job created by businesses that qualify for the Article 3J Credits and $7,500 per job for businesses that do not qualify for the Article 3J Credits. The cap is $1,000,000 and it requires a 25% local match. In addition, the business must agree to hire 60% of employees from previously low to moderate-income levels, which is $29,000, or less. *site must be outside of the city limits of Hickory. (Hickory is an entitlement city and runs their own CDBG program)

Economic Development Administration: Provides up to 50% funding for water, sewer and road infrastructure for businesses plus 10% presumed benefit. Polk County Fact Book 66

Local Government Incentives: These incentives at the municipality and county levels are negotiated on a case by case basis. These incentives typically are based upon job creation, including wage rate, investment in real property and machinery and equipment and the type and general description (NAICS) of the business. Incentives typically involve granting an amount equal to a percentage of the property tax to the business and/or property and in-kind infrastructure improvements. Each municipality may, on a case-by-case basis, consider annexation, alter or waive fees or implement special measures to attract or retain businesses in their municipality city limits. In addition, Polk County has a policy that provides for the extension of water and sewer lines outside of municipalities. The county fronts 100% of the costs with the participating city repaying 75% of the loan with no interest. Each municipality has its own policies in providing city services.

Industrial Revenue Bonds: Industrial revenue bonds are issued by a governmental entity which borrows money and uses the loan proceeds to finance a manufacturing plant or other facility for a specific private company. The governmental entity uses the company’s loan repayments to retire the bonds. The principal amount may not exceed $20 million on federal bonds, state bonds do not have a principal cap. Typically, the interest rates on IRB loans are lower than the current market rate.

Community College Customized Training Programs: The program trains workers for any new or expanding business that has created at least twelve new jobs. The program pays the instructors wages and travel costs, for classroom materials and for the use of the training facility.

Department of Transportation Rail Industrial Access Program: Provides funding for a portion of the cost of constructing or refurbishing spur tracks to new or expanded industrial facilities. The funded portion is between 35% and 50% of eligible project costs, with percentage funded determined by project’s score in an economic benefit point system that credits jobs created, capital investment, number of rail carloads to be generated, and whether project is in a distressed county or will preserve a short line railroad. Program will fund site preparation, track construction, switches, and grade crossings and signals. Will not fund engineering, utility relocation, right-of-way relocation or rail docks.

Department of Transportation Site Access Fund: Provides funding for the construction of roads to new industrial facilities that also qualify for the Lee Act. Departmental policies provide that the number of employees at the facility and the amount of truck traffic to and from the facility will be primary justifications for assistance.

On-The-Job-Training (OJT): OJT is a federally funded activity through the Workforce Investment Act that can reimburse employers up to 50% of an employee’s wages during his/her training. It is designed to give unemployed or under-employed workers the opportunity to learn valuable new sills beneficial to the workforce. OJT encourages employers to provide the training and allows for monetary incentives to help compensate for training time and cost.

Incumbent Workforce Development Grant: Program provides funding to established North Carolina businesses to provide educational and skills training for current workers. It is designed to benefit business by enhancing the skills of employees, thereby increasing employee productivity and the potential for company growth. Maximum funding for any project is $37,500. The business must state that is it not eligible for or has exhausted efforts to secure funding through existing incumbent worker training programs in the North Carolina Community College System, or the university system, such as the New and Expanding Industries Program and the Focused Industrial Training Program.

Tax Incentives for Datacenters and Internet Datacenters:
Data Centers: Certain datacenters are exempt from sales tax in North Carolina. Instead, a privilege tax of 1% (up to a maximum of $80/article) is imposed on capital purchases, made before July 1, 2015, of qualifying machinery or equipment located and used at the datacenter, including: (i) equipment cooling systems; (ii) hardware for distributed and mainframe computers and servers; (iii) data storage devices; (iv) network connectivity equipment and peripheral components and systems; and (v) machinery or equipment related to the generation, transformation, transmission, distribution, or management of electricity.
A datacenter is eligible for the tax exemption described above if it is a facility that provides infrastructure for hosting or data processing services. The facility must also meet certain power and cooling system requirements to be eligible, as set forth in N.C.G.S. § 105- 164.3(5c). There is a minimum investment depending on where the facility is located – for facilities located in a “Tier 1” area, a $150 million investment is required, otherwise, a $225 million investment is required (Exhibit 1 to this Summary shows a map of the North Carolina Department of Commerce’s 2010 County Tier Designations). The investment must be in improvements to real property and/or installed machinery or equipment, and be completed within five years of the date of the first qualifying improvement. The company must also meet certain wage and health insurance standards.
If the owner of a datacenter (which includes an entity that is owned by or under common control with the owner of the datacenter) places a second datacenter into service within five years after the first datacenter is placed into service, it is eligible for the same tax exemption. To qualify, the two datacenters must be linked through a fiber-optic or similar connection and there must be a minimum investment of $75 million in real property and/or installed machinery or equipment in the second datacenter. The company must also meet certain wage and health insurance standards for the second datacenter.

Internet Datacenters: Eligible business property located and used at an eligible Internet datacenter is exempt from sales tax in North Carolina (and is not subject to the 1% privilege tax). (N.C.G.S. § 105- 187.51C(b)) “Eligible business property” is that which is capitalized for tax purposes under the Internal Revenue Code and is used either: (i) for the provision of a service included in the business of the primary user of the datacenter, including equipment cooling systems for managing the performance of the property; (ii) for the generation, transformation, transmission, distribution, or management of electricity, including exterior substations and other business personal property used for these purposes; or (iii) to provide related computer engineering or computer science research. (N.C.G.S. § 105-164.13(55)) Sales of electricity for use at an eligible Internet datacenter are also exempt from sales tax in NC.
An Internet datacenter is eligible for the tax exemptions described above if it is a facility that is used primarily by a business engaged in software publishing (NAICS industry code 51120) or Internet activities (NAICS industry code 519130). It must also be located in a “Tier 1” or “Tier 2” area, as determined by the North Carolina Department of Commerce (see Exhibit 1). The company must invest a minimum of $250 million in real property and/or eligible business property within five years after the commencement of construction of the facility. The facility must also be comprised of a structure or series of structures located on a single or contiguous parcels of land that are commonly owned or owned by affiliation with the operator of that facility.

Calculation of Corporate Income Tax for Capital-Intensive Businesses in NC:
A. Calculating Corporate Income Tax Liability for Capital-Intensive Businesses
In June 2009, the North Carolina General Assembly amended a law to encourage the location and expansion of certain capital-intensive businesses in North Carolina. Under the new law, certain capital-intensive businesses may qualify for a benefit that could allow them to pay significantly less income tax in North Carolina. Subsequent to the passage of this law, Apple Inc. selected North Carolina as the location for a new datacenter.
For a corporation that is taxable both within North Carolina and elsewhere, the State of North Carolina taxes a fraction of the corporation’s income based on a formula that takes into account the company’s amount of sales, payroll, and property it maintains within North Carolina. The amount of income that must be apportioned to North Carolina is based on a four-factor apportionment formula. The formula is the sum of the property factor, the payroll factor, and twice the sales factor, which is then divided by four.
For eligible capital-intensive corporations, beginning with the January 1, 2010 tax year and expiring on January 1, 2019, the amount of income that must be apportioned to North Carolina for income tax computation will be calculated solely based on the company’s sales factor. This could benefit a capital-intensive corporation with low sales in North Carolina, as compared to the property and payroll it maintains in North Carolina. B. Definition of Eligible Capital-Intensive Corporations
An eligible “capital-intensive” corporation is one that has invested, or is expected to invest, at least $1 billion to construct a facility in North Carolina within nine years after construction begins.
The facility must be located in a “Tier 1” or “Tier 2” area, as determined by the North Carolina Department of Commerce (Polk County is a “Tier 2” county). It must also maintain the average number of employees it had at the facility during the first two years after the facility is placed in service throughout the remaining time in which the corporation must complete the $1 billion investment. The company must also meet certain wage and health insurance standards.

 

Local Incentives

New and expanding businesses in Our Polk are eligible for an economic development incentive grant on a project by project basis as outlined in the guidelines below adopted by the Polk County Board of Commissioners. (North Carolina General Statutes §158-7.1)

Industrial Guideline Principals
These Economic Development Incentive (EDI) guidelines are based upon (and any EDI arrangement with a new or existing company must be in compliance with) sound public policy principles, which at a minimum include:

• Any EDI grants must provide the County a high return on investment, taking into account tax revenues of the business or industrial project over a ten year period from the date of the start-up of the project. N.C. General Statutes §158-7.1(d2).

• Any EDI grant must be preceded by an agreement with the company involved, binding it to minimum levels of capital investment and quality job creation, and providing for penalties and/or reductions in amounts of forward funded grants, in the event that it fails to meet these minimum required levels. N.C. General Statutes §158-7.1(d2)(2).

• Investments of County funds by way of EDI grants shall be in items which leave value in the County in the event of a curtailment or closure of the operations within the business or industrial facility, such as site acquisition, site preparation, internal infrastructure, job training, etc.

• It must be competitively necessary in the judgment of the Board of Commissioners to provide such incentives in order to induce that project to locate or expand in the County.

• The bedrock of the County’s economy is the businesses and industries already located in the County. Consequently, the terms and application of the EDI policy are to result in existing businesses and industries receiving consideration for grants that are on terms equal to or better than those available to a company considering locating its first facility in the County.

EDI Program Parameters: Each project will be considered on a project-by-project basis, using these guidelines recommended to the Board of Commissioners. These guidelines shall be subject to periodic review and may be modified, amended or terminated, by the Board of Commissioners due to changed economic conditions or competitive consideration. In the event of any modification, amendment or termination, EDI grants to which the County previously committed will not be affected.

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Business & Industry

Milliken’s Hatch Plant in Columbus with knitting and dyeing specialty

Milliken’s Hatch Plant in Columbus with knitting and dyeing specialty

Industry Composition – 2010
Industry NAICS Code No of Firms Annual Avg Empl
Total All Industries (excluding Government)

Source: Employment Security Commission of North Carolina

Top Employers in Polk County – All Industries (as of 4th quarter 2013)

Polk County Schools  450
St. Luke’s Hospital  352
Tryon Estates  250
Polk County Government  225
White Oak Manor   135
Autumn Care  103
Laurelhurst  60
Hatch plant / Milliken   60
Carolina Yarn Processors  51
Timken Inc.  35

Source: Tryon Daily Bulletin survey 12-21-2011
Source: Employment Security Commission of North Carolina

Financial Institutions

Banks – Main Branches

Bank of America (2 locations) – Tryon and Columbus
www.bankofamerica.com

Carolina First

Macon Bank

Mountain First

State Employees Credit Union

TD Bank

Tryon Federal

Wells Fargo

Credit Unions
State Employees’ Credit Union

 

5-year Industry Employment Transition: 2005-2010

2005 2010 Change % Change

Agriculture Forestry Fishing & Hunting 127 107 -20 -15.75%

Utilities 433 334 -99 -22.86%

Construction 2,785 2,517 -268 -9.62%

Manufacturing 28,519 21,276 -7,243 -25.40%

Wholesale Trade 3,963 3,684 -279 -7.04%

Retail Trade 10239 9230 -1,009 -9.85%

Transportation and Warehousing 3847 3609 -238 -6.19%

Information 567 572 5 0.88%

Finance and Insurance 1,456 1,272 -184 -12.64%

Real Estate and Rental and Leasing 562 504 -58 -10.32%

Professional and Technical Services 1,396 1,543 147 10.53%

Management of Companies and Enterprises 1,774 1,918 144 8.12%

Administrative and Waste Services 4763 4195 -568 -11.93%

Educational Services 4,809 4,973 164 3.41%

Health Care and Social Assistance 9,050 9,548 498 5.50%

Arts Entertainment and Recreation 856 823 -33 -3.86%

Accommodation and Food Services 6,424 6,174 -250 -3.89%

Other Services Ex. Public Admin 1670 1497 -173 -10.36%

Public Administration 2990 3263 273 9.13%

Source: Employment Security Commission of North Carolina

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Incentive Policy Guidelines

New and expanding businesses in Our Polk are eligible for an economic development incentive grant on a project by project basis as outlined in the guidelines below adopted by the Polk County Board of Commissioners. (North Carolina General Statutes §158-7.1)

Industrial Guideline Principals
These Economic Development Incentive (EDI) guidelines are based upon (and any EDI arrangement with a new or existing company must be in compliance with) fiduciarily sound public policy principles, which at a minimum include:

  • Any EDI grants must provide the County a high return on investment, taking into account tax revenues of the business or industrial project over a ten year period from the date of the start-up of the project. N.C. General Statutes §158-7.1(d2).
  • Any EDI grant must be preceded by an agreement with the company involved, binding it to minimum levels of capital investment and quality job creation, and providing for penalties and/or reductions in amounts of forward funded grants, in the event that it fails to meet these minimum required levels. N.C. General Statutes §158-7.1(d2)(2).
  • Investments of County funds by way of EDI grants shall be in items which leave value in the County in the event of a curtailment or closure of the operations within the business or industrial facility, such as site acquisition, site preparation, internal infrastructure, job training, etc.
  • It must be competitively necessary in the judgment of the Board of Commissioners to provide such incentives in order to induce that project to locate or expand in the County.
  • The bedrock of the County’s economy is the businesses and industries already located in the County. Consequently, the terms and application of the EDI policy are to result in existing businesses and industries receiving consideration for grants that are on terms equal to or better than those available to a company considering locating its first facility in the County.


EDI Program Parameters

Each project will be considered on a project-by-project basis, using these guidelines recommended to the Board of Commissioners. These guidelines shall be subject to periodic review and may be modified, amended or terminated, by the Board of Commissioners due to changed economic conditions or competitive consideration. In the event of any modification, amendment or termination, EDI grants to which the County previously committed will not be affected.

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