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rnarnen uounry, iNu v incentives <br />Page 3 of 4 <br />G I.3 <br />• <br />New Investment Level <br />% Property Taxes - <br />Term <br />$1.5 million or greater <br />80% <br />Three (3) Years <br />$10 million or greater <br />80% <br />Five (5) Years <br />$20 million or greater <br />80% <br />Seven (7) Years <br />Expanded Investment Level <br />% Property Taxes <br />Term <br />$750,000 or greater <br />80% <br />Three (3) Years <br />$5 million <br />80% <br />Five (5) Years <br />$10 million <br />80% <br />Seven (7) Years <br />Harnett County may also provide an EDI Grant based upon the number of jobs created at an average salary level of <br />110% of the average weekly wage' for the County. The amount of the Grant shall be recommended by the Harnett <br />Forward Together Committee (HFTC) and approved by the Harnett County Board of Commissioners, subject to a <br />public hearing. <br />" "Harnett County average weekly wage for 2009 is $521. <br />Municipal Incentives <br />Each of Harnett County's municipalities has agreed to match the terms of the County incentive grant for projects <br />located within their corporate limits. <br />• Municipal Economic Development Incentive (EDI) Grant Program <br />The EDI Grant involves a contractual agreement between the town and a new or existing business/ industry that <br />would allow for a financial incentive grant based upon the actual value, schedule and payment of town property taxes <br />for a period of up to seven (7) years. The town will require the business/ industry to pay in full annually total property <br />taxes due. If the business/ industry have met specific criteria as outlined in a formal agreement, a portion of the <br />property tax paid by that business/ industry to the town for up to seven (7) consecutive tax years would be returned to <br />the business/ industry. The terms of the grant will be based on the amount of investment. Each project will be <br />considered on an individual basis using guidelines established under the direction of the town's Board of <br />Commissioners. <br />New Investment Level <br />% Property Taxes <br />Term <br />$1.5 million or greater <br />80% <br />Three (3) Years <br />$10 million or greater <br />80% <br />Five (5) Years <br />$20 million or greater <br />80% <br />Seven (7) Years <br />Expanded Investment Level <br />% Property Taxes <br />Term <br />$750,000 or greater <br />80% <br />Three (3) Years <br />$5 million <br />80% <br />Five (5) Years <br />$10 million <br />80% <br />Seven (7) Years <br />• Utilities Incentives <br />http:// www. Iiamettedc .org /incentiv- 10.asp ?v =p& <br />2/17/2010 <br />