North Carolina revealed yesterday that it has offered up to $28.5 million in incentives to Caterpillar Inc. Combined with the combined $23.5 million being offered by Winston-Salem and Forsyth County, and $1 million from the Golden Leaf Foundation, Caterpillar could get a total of $53 million in incentives.
Here is a breakdown of the state's offer:
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JOB DEVELOPMENT INVESTMENT GRANT: $4.68 million.
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ONE NORTH CAROLINA FUND: $600,000.
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JOB CREATION: Up to $10.7 million from a grant equal to 75 percent of the state personal-income withholding taxes derived from creation of jobs for each of the 11 years in which the company meets annual performance targets.
•
TRAINING: $862,400 to go to Forsyth Technical Community College.
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STATE- AND USE-TAX EXEMPTION: An exemption of up to $11.7 million in state and use taxes. The N.C. Department of Revenue will determine the process.
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