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State Businesses Exceed Goal Outlined in Grant

State figures show businesses that were promised incentive grants to build or expand in North Carolina have mostly exceeded hiring and salary goals so far.

Seven companies that received Job Development Investment Grants were reviewed by state officials to determine whether they qualified for annual installment payments.

A review by The News and Observer of Raleigh shows six of the businesses met minimum job targets in 2006, and all paid higher average salaries than required.

Department of Commerce information shows the state paid almost one-point-seven million dollars in grants to the seven companies and has kept almost two-point-seven million dollars in tax revenue. A dozen other companies must still be reviewed.

Sixty awards have been made since the grant program was created by the state Legislature in 2003, and several companies are eligible for payments this year.


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