The Utility Account assists local governments in counties that have one of the 80 most distressed rankings under G.S. 143B-437.08 after adjustments are applied for creating jobs in eligible industries. Funds are provided as incentives for job creation and investment to benefit industries eligible to participate in the Article 3J tax credit program.
Program Requirements: Funds may be used for construction or improvements to water, sewer, gas, telecommunications, high-speed broadband, transportation infrastructure or electrical utility lines and for equipment for existing or proposed industrial buildings.
To be eligible for funding, the infrastructure is required to be on the building site or if not located on the site, directly related to the operation of the specific industrial activity.