File #: 24-082   
Type: Resolution (Consent) Status: Passed
File created: 2/27/2024 In control: Economic Development Commission
On agenda: 3/26/2024 Final action: 3/26/2024
Enactment date: 3/26/2024 Enactment #: 2024-082
Title: Public Hearing - RE: Commissioner Keigher - EDC - To Approve a Gaston County Level Two 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 Son 1. Receive Citizen Comment 2. Close Public Hearing 3. Accept Motion
Sponsors: Tom Keigher
Attachments: 1. Adopted 2024-082, 2. Resolution

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Public Hearing - RE: Commissioner Keigher - EDC - To Approve a Gaston County Level Two 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 Son

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
budget

N/A

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BUDGET ORDINANCE IMPACT

N/A

BACKGROUND

Project Son is considering a total investment of $20,000,000 to relocate their manufacturing and distribution to The Oaks Logistics Center in Gaston County. Project Son’s investment is anticipated to add approximately 100 new jobs with an average annual salary of $51,852 over the next two years. 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 Two Incentive Grant.

POLICY IMPACT

N/A

ATTACHMENTS

Resolution