In many respects, Apex seems like an ideal place to bring a company: It’s near major highways and good schools, and it’s in easy driving distance of major universities.
But until last week, it didn’t have a policy for offering incentives to companies looking to expand or relocate. That’s often enough to take Apex out of the running for new business, said Joanna Helms, Apex’s director of economic development.
Helms said the existence of an incentive policy is as important as that policy’s contents, at least when it comes to getting companies to keep Apex on their list for a second look.
“They just want a ‘yes’ or a ‘no,’ ” she said. And if we’re a ‘no,’ we’re out.”
Apex is now a “yes.” Last week, the Town Council adopted a policy in a 4-1 vote that would refund companies 90 percent of the tax growth that expansion or relocation adds to the town’s tax base for three years.
Apex’s minimum threshold for eligibility will be the creation of 20 jobs at 100 percent of Wake County’s average salary – approximately $52,000 – and an investment of at least $3 million in the town. Wake County’s policy sets those numbers higher, at ...