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Public Hearing - RE: Commissioner Keigher - EDC - To Authorize a Gaston County Level One or Level Two Incentive Grant and Approve the Conveyance of Approximately 5.2 Acres of Land in the Gastonia Technology Park (GTP) Pursuant to N.C.Gen.Stat. 158-7.1; Authorize Gaston County to Enter Into an Economic Development Agreement (EDA) with Project Manitoba
1. Receive Public 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
North Carolina General Statute 158-7.1 authorizes a county to undertake an economic development project by conveying property to a company in order to induce the company to locate or expand its operations within the county. Gaston County and Project Manitoba have engaged in private negotiations for the conveyance of a 5.2 acre tract in the Gastonia Technology Park (GTP), to the end that Project Manitoba may expand their manufacturing facility on the tract, and they have reached a tentative agreement on the terms for conveyance of the property and for a Level One or Level Two Incentive Grant. Project Manitoba is considering a total investment of $7,000,000 to design and expand and anticipates creating 31 additional job opportunities with an average annual salary of $56,129. 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 or Level Two Incentive Grant.
POLICY IMPACT
N/A
ATTACHMENTS
Resolution and Map