Incentives are available to a broad range of investments in the City of Kannapolis. Not only does the City offer the formal programs listed below, but the leadership of Kannapolis is eager to think creatively, develop partnerships and in short, 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 with the aid of the City’s economic development partners, RowanWorks and Cabarrus Economic Development.
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:
- Have minimum capital investment of $3 million
- Grant equivalent to 85% of real and personal property tax paid
- 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 Business & Community Affairs Irene Sacks or 704-920-4326.