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Public Hearing - RE: Commissioner Brown - EDC - To Approve a Gaston County Level One Incentive Grant Pursuant to N.C.Gen.Stat. 158-7.1 and To Authorize Gaston County to Enter Into an Economic Development Agreement (EDA) with Project Flower
1. Receive Citizen Comment
2. Close Public Hearing
3. Accept Motion
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STAFF CONTACT
Donny Hicks - Economic Development Commission - 704-825-4046
BUDGET IMPACT
budget
No Budget Impact. Incentive grant payouts are included in the County’s annual budget in the year of payout.
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BACKGROUND
Project Flower is considering a total investment of $1,500,000 to customize, upfit an existing building and in machinery and equipment to establish a manufacturing and distribution facility. Project Flower anticipates creating 22 new jobs with an average annual salary of approximately $55,000 per year in Gaston County. It is anticipated that the Company’s capital investment in and at the Property and its operations thereat will generate significant ad valorem tax, sales tax and other revenues to the County and will qualify for a Level One Incentive Grant. The Economic Development Agreement (EDA), between Project Flower and the County, so as to induce the company to provide good job opportunities and capital investment which will enhance the County’s ability to attract additional business and industry.
POLICY IMPACT
N/A
ATTACHMENTS
Resolution