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Public Hearing - RE: Commissioner Keigher - EDC - To Approve a Gaston County Level Two or Three 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 Grappa
1. Receive Citizen Comment
2. Close Public Hearing
3. Accept Motion to Approve Resolution
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STAFF CONTACT
Donny Hicks - Economic Development Commission - 704-825-4046
BUDGET IMPACT
budget
N/A
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BUDGET ORDINANCE IMPACT
N/A
BACKGROUND
Project GRAPPA is considering a total investment of approximately $45 million to design, construct, equip and occupy an advanced manufacturing facility in Gastonia Technology Park, to include the purchase and installation of machinery & equipment, with the expectation to complete this investment on or before December 31, 2023 and the firm intends to create 45 new jobs, and expects to pay an average annual wage of $45,000. 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. The County will prepare a detailed Economic Development Agreement (EDA) Level Two or Three depending on the amount of investment, between Project GRAPPA 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