04 NCAC 01E .0308. ABANDONMENT TEST

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(a) G.S. 159C‑7 specifies that in the case of either "an industrial or a pollution project, except a pollution project for a public utility, that the financing of such project by the authority will not cause or result in abandonment of an existing industrial or manufacturing facility of the proposed operator or an affiliate elsewhere within the state unless the facility is to be abandoned because of obsolescence, lack of available labor, or site limitations."

(b) The department shall consider an abandonment statement as prima facie proof of lack of abandonment.

History Note: Authority G.S. 159C‑7;

Eff. August 2, 1976.

                    
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