Incentive Guidelines

Purpose

Guidelines exist to expand economic development opportunities for the Town of Apex that will diversify or expand the tax base, offer improved employment opportunities for its citizens and promote the economic growth and welfare of local businesses and the industrial community.

Policy Guidelines

The Town of Apex supports the Wake County Business Investment Grant Policy and will consider participation in this program.

In addition, consideration for support will be given to smaller investments in the Town of Apex by new and existing businesses. Each program will be considered on its individual merits. The Town of Apex will weigh a number of factors when considering these investments, such as the type and reputation of the business; the amount of capital investment; the employment numbers, wages and potential for new job creation, and water, sewer and electrical service needs. The performance based grants provided by the Town Council may be monetary or in the form of infrastructure improvements, support and assistance with the permitting and approval processes, and/or through other beneficial instruments.

Policy Terms

Appropriations for economic development are not made as a matter of right but are made as a privilege to the industry or business at the sole discretion of the Apex Town Council. Changes in economic conditions may necessitate the Town Council to modify, amend, or even terminate the incentive grant policy, subject to compliance with any incentive agreements in effect at the time.