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Public Hearing - RE: Commissioner Keigher - EDC - To Approve the Application for a NCDOC Rural Economic Development Division Building Reuse Grant in Support of Project REPEL and to Provide the Required 5% Local Match in an Amount Not to Exceed $3,250
1. Receive Citizen Comment
2. Close Public Hearing
3. Accept Motion to Approve Resolution
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STAFF CONTACT
Donny Hicks - Economic Development Commission - 704-825-4046
BUDGET IMPACT
budget
N/A
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BUDGET ORDINANCE IMPACT
N/A
BACKGROUND
Project Repel, which has operated a manufacturing facility in Gaston County since 2001 is proposing a total investment of $7.7 million in renovations to their manufacturing facility in Gaston County and in an expansion of their warehousing space. The firm intends to create fourteen (14) new jobs over five (5) years, of which ten (10) jobs are to be created in the first two (2) years and the average annual wage of these jobs are projected to be $43,856 with the current annual average wage for Gaston County being $42,018. The General Statutes of North Carolina authorizes a County to secure grants from the State of North Carolina for the expansion of industry. The Gaston County Board of Commissioners finds that it is in the best interest of the County to assist Project Repel in obtaining a NCDOC Rural Economic Development Division Building Reuse Grant and to provide the required five percent local match in an amount not to exceed $3,250. This action will potentially increase property and sales tax revenue based upon Project Repel committing to the renovation of the manufacturing plant in Kings Mountain and the expansion of their warehouse space in Gaston County. Approval of this Board Action and attached Resolution authorizes the Chairman of the Gaston County Board of Commissioners to execute any documents necessary to submit a NCDOC Rural Economic Development Division Building Reuse Grant application and commits to provide the required five percent local match in an amount not to exceed $3,250.
POLICY IMPACT
N/A
ATTACHMENTS
Resolution