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Public Hearing - RE: Commissioner Keigher - 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 Metro
1. Receive Citizen Comment
2. Close Public Hearing
3. Accept Motion
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STAFF CONTACT
Kylie Sharp - Economic Development Commission - 704-825-4046
BUDGET IMPACT
budget
Level One Incentive Grant.
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BACKGROUND
Project Metro is considering a total investment of $3,480,000 to purchase and install new machinery and equipment and renovate and expand an existing building in Gaston County. Project Metro anticipates creating 15 new jobs with an average annual salary exceeding $54,736 per year in Gaston County, which is above the County average wage. 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 Grant. The County will prepare a detailed Economic Development Agreement (EDA), between Project Metro, the County, and chosen municipality, 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