In the past, the City of New Bern has received designation as a State Development Zone. However, as of January 1, 2007, the tax credits associated with the State Development Zone have been repealed. The UP Zone is this former zone’s replacement.Now, as part of North Carolina's Article 3J tax credits program, the UP Zone program provides economic incentives to stimulate new investment and job creation in economically distressed areas. Zone qualifications can be found in “Guidelines for Establishing State of North Carolina Urban Progress Zones.pdf” at the Department of Commerce’s UP Zone website (right click for new window). To view a larger version of the above map in a new window, right click over the image.
Qualifying projects located within these zones receive enhanced tax credits for growing business (Article 3J Credits) for creating jobs, investing in business property, and investment in real property.
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City receives tentative approval for Urban Progress Zone - Will Best, Analyst for the North Carolina Department of Commerce, notified the City that effective September 21, 2008 through December 31, 2009, the map above is designated as an Urban Progress Zone. This declaration is awaiting a signature by the Secretary of North Carolina Department of Commerce, after which time the designation will be official.
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