RALEIGH, N.C. ― The North Carolina Department of Commerce released the county tier designations for 2015 today. The designations, which are mandated by state law, determine a variety of funding opportunities to assist in economic development.
“No matter where you live in North Carolina our goal is to spark economic development and enhance job opportunities all across the state,” said Commerce Secretary Sharon Decker. “The tier rankings help us in various economic development programs to attract businesses to the state.”
Using a formula outlined in General Statue §143B-437.08, the N.C. Department of Commerce gathers required statistics for each of North Carolina’s 100 counties, applies the formula and assigns a tier designation ranking from one to three. Tier 1 counties are the most economically distressed and Tier 3 counties are the least economically distressed. Eligible businesses that locate in Tier 1 or Tier 2 counties are eligible for some grant programs.
Nine counties will change tier designations for 2015. Ashe, Macon and Nash counties will shift from a Tier 2 to a Tier 1 ranking. Guilford County will change from a Tier 3 to a Tier 2 ranking. Burke, Caldwell, Hoke and Mitchell counties will move from Tier 1 to Tier 2 counties. Haywood County will shift from Tier 2 to Tier 3.
The law calls for the 40 most distressed counties to become Tier 1 counties, the next 40 counties to be designated as Tier 2 and the 20 most prosperous counties to become Tier 3 counties.
The rankings are based on an assessment of each county’s unemployment rate, median household income, population growth, and assessed property value per capita. In addition, any county with a population of less than 12,000 or a county with a population of fewer than 50,000 residents with 19 percent or more of those people living below the federal poverty level are automatically designated as among the most distressed counties.
Tier designations determine eligibility for a number of different grant programs that the N.C. Department of Commerce administers including building reuse, water and sewer infrastructure, and the downtown revitalization Main Street program. Tier designations are also a factor in the state’s performance-based Job Development Investment Grant (JDIG) program.
For more information about the tier designation system visit:
http://www.nccommerce.com/research-publications/incentive-reports/count….