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Commissioner Keigher - EDC - To Authorize Acceptance and Appropriation of the NCDOC Rural Economic Development Division Building Reuse Grant for the Benefit of Healsee Capsules, Inc. (Project Arrival) and To Authorize a Fund Balance Appropriation for the Required Match of $25,000
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STAFF CONTACT
Alisha Summey - Economic Development Commission - 704-825-4046
BUDGET IMPACT
budget
Community Investment Fund: Increase fund balance appropriation by $25,000. Increase transfers out by $25,000.
Capital Fund: Increase State Revenue by $500,000. Increase transfers in by $25,000. Increase capital expenditure by $525,000.
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BACKGROUND
Healsee Capsules, Inc. is considering a total investment of $70,000,000 to establish a manufacturing facility in Gaston County. Healsee Capsules, Inc plans to invest $70 million to customize and upfit an existing facility and purchase machinery and equipment. The Company anticipates creating 175 new jobs with an average annual salary exceeding $52,777 per year in Gaston County which is above the County average wage. This will potentially increase property and sales tax revenue to induce the company to continue to provide good job opportunities and capital investment which will enhance the County' s ability to attract additional business and industry committing to the upfit of the manufacturing plant in Gaston County.
POLICY IMPACT
N/A
ATTACHMENTS
Resolution and Budget Change Request (BCR)