What is the JDIG program?

ryanteaguebeckwith — Mon, 17 Sep 2007 15:41:18 -0400

Answer:

The Job Development Investment Grant program gives annual cash grants to businesses that relocate or expand in North Carolina.

The program was signed into law by Gov. Mike Easley on Oct. 31, 2002, and became effective Jan. 1, 2003. It has been amended in 2003 and 2006.

Between 2004 and 2007, the committee promised more than $200 million in grants to companies such as Google, GlaxoSmithKline and Dell Computer, in exchange for pledges of more than 20,000 jobs.

The grants are paid over as many as a dozen years. Companies must meet specific hiring and other criteria each year before the grant is given. By law, a business can create as few as 10 new jobs to qualify, but typically it's at least 100.

The grants are approved by Economic Investment Committee, a five-member panel.

The governor appoints three people on committee: The secretaries of the state departments of Commerce and Revenue and the director of the Office of State Budget and Management. The other two are appointed by the Speaker of the House and the president pro tem of the Senate.

The committee decides on grants in closed-door sessions, though the final approval is done in an open meeting and the public can weigh in before each payment is made.

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What is the JDIG program?