Incentives may be available to qualifying businesses looking at moving (or growing in) the City of Kannapolis. In addition to the formal program listed below, the City is also willing to develop partnerships and find strategic ways for the public and private sector to work together, to ensure projects move forward.
Kannapolis provides an industrial incentive grant program to help encourage the expansion or relocation of businesses and industry to the City. These grants are awarded by the Kannapolis City Council working together with the city’s economic development partners, Cabarrus Economic Development and Rowan EDC.
Grants considered generally have end uses that include, but are not limited to, corporate headquarters, manufacturing, assembly, fabrication, processing operations, research and development, motorsports facilities, warehouse/distribution or office buildings.
The incentives generally:
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Have minimum capital investment of $3 million
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Grant equivalent to 85% of real and personal property tax paid
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Have a grant award period of three (3) consecutive years
The City also partners with developers and businesses on major projects on a case-by-case basis. These often include partnerships in construction of public infrastructure.
For more details or information on reinvestment project incentives, please contact Director of Economic & Community Development Irene Wong at iwong@kannapolisnc.gov or 704-920-4326.