Board approves business development grant, tax reinvestment fund
Published on September 29, 2026
A business development tool that will dedicate funds for future tax relief is now in effect in Cabarrus County.
The Cabarrus County Board of Commissioners established the Business Development Grant (BDG) program and People’s Tax Reduction and Reinvestment Reserve Fund to provide grants to qualifying businesses based on new investment, job creation and other factors.
Under the program, qualifying new and expanding businesses and industries may receive a BDG, which is available on a case-by-case basis. The grant amount is based on factors including the size of the investment, number and quality of jobs, wages, employee benefits, industry type and potential for future growth.
Qualifying businesses include, but are not limited to, manufacturing, corporate headquarters, research and development, agricultural operations and office facilities.
“This program prioritizes large and smaller-scale commercial growth. It doesn’t put pressures on schools and infrastructure to near the extent residential growth does,” said Board of Commissioners Vice-Chair Ian Patrick. “The public has felt for years that corporations have been getting all the breaks. Now, everyone in the county gets a break. Every man, woman and child gets to share in the success here. That is the point of it. When that success gets spread around in the form of tax breaks, I think we all win.”
The program is designed to grow the County’s tax base while creating a long-term benefit for residents by relieving tax pressures.
“This establishes a pro-growth framework that sends a clear message to the marketplace that our county is ready to partner with new and expanding businesses by fostering economic opportunities and being ready to help them succeed,” said Commissioner Jeff Jones. “At the same time, it connects that business growth to enhancing the overall quality of life for our residents and overall prosperity of the community.”
How it works
When a qualifying business makes a new investment in Cabarrus County, that investment increases the County’s taxable property value. The business then pays property taxes on that new investment.
A portion of those new tax revenues may be used for the business grant, provided the business meets the requirements of its agreement with the County.
The remaining net funds are placed in the dedicated People’s Tax Reduction and Reinvestment Reserve Fund, with 50% designated for future property tax rate stabilization or reductions. Money in the reserve fund can only be used during the annual budget process and with approval from the Board of Commissioners.
“This puts a deliberate focus on the citizens, as it should be,” said Board of Commissioners Chair Laura Lindsey. “Now, when any new business that is given a tax grant comes to our county, there will be a dedicated line item to reduce property taxes. Citizens will see this account grow and know that the money is going to reduce their tax burden. County Manager John Eller listened to our concerns as representatives of the people, and he put all of that together into a plan that the Board could agree on. This will ultimately help all of us that live in Cabarrus County. I am very proud to support this.”
The plan grew out of discussions among County leadership and the Board about how to improve the County’s approach to business grants while creating a direct benefit for residents.
Eller presented the plan to the board at the September 2026 Regular Meeting. During the presentation, Eller and Cabarrus Economic Development President and CEO Gretchen Carson stressed that the plan addresses concerns about how past incentive programs were structured and how harnessing commercial growth can help stabilize tax rate pressures.
“This is a great asset for Cabarrus County, and a great opportunity for our board to be unified and working together for the best interests of our citizens,” said Commissioner Kenny Wortman.
To qualify, businesses receiving a grant must:
- Meet the investment and employment commitments outlined in their agreements
- Remain current on County taxes
- Comply with reporting and auditing requirements
Each BDG is considered individually. If a business does not meet its commitments, the County can reduce or eliminate future grant payments and require repayment of funds not earned.
Before a grant can be approved, the Board must hold a public hearing and take action in an open meeting.
Next steps
The County will create a webpage for business development grants. Information will be posted on the website after a public hearing is held and a grant is approved by the board of commissioners. The update will include the status of each grant and the reserve fund balance.
The county manager will also report annually on the participating businesses and the amount of revenue deposited into the reserve fund.