File #: 25-176   
Type: Public Hearing Status: Passed
File created: 3/31/2025 In control: Economic Development Commission
On agenda: 4/22/2025 Final action: 4/22/2025
Enactment date: 4/22/2025 Enactment #: 2025-101
Title: Public Hearing - RE: Commissioner Keigher - EDC - To Approve a Gaston County Level Four 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 Nexus 1. Receive Citizen Comment 2. Close Public Hearing 3. Accept Motion
Sponsors: Tom Keigher
Attachments: 1. Adopted 2025-101, 2. Resolution

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Public Hearing - RE: Commissioner Keigher - EDC - To Approve a Gaston County Level Four 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 Nexus

1.  Receive Citizen Comment

2.  Close Public Hearing

3.  Accept Motion

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STAFF CONTACT

Alisha Summey - Economic Development Commission - 704-825-4046

BUDGET IMPACT
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Local Investment Grant.

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BACKGROUND

Project NEXUS is considering a total investment of $268,000,000 to establish a manufacturing facility in Gaston County. Project NEXUS plans to invest over $56 million to customize and upfit an existing building in either Kings Mountain or Gastonia and purchase over $212 million in machinery and equipment. Project NEXUS anticipates creating 701 new jobs with an average annual salary exceeding $52,000 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 Four Incentive Grant. The County will prepare a detailed Economic Development Agreement (EDA), between Project NEXUS and 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