This program provides financial assistance for specific economic development projects that are designed to attract new business. Assistance may be provided in the form of a grant or loan depending upon the return on investment. These projects are intended to create new permanent jobs and expand the tax base. Specific assistance may include road construction, site improvements, land acquisition, parking deck construction, training, etc. Each project must be approved by the City Council. The city currently partners with Winston Salem Business Inc. to assist with this program.
Bekaert Textiles Relocated to Winston-Salem with the assistance
of this program.
Return on investment for this program is based on pay-off through new property tax revenue generated and new jobs created.
Normal return period not to exceed seven (7) years.