File #: 24-595   
Type: Public Hearing Status: Passed
File created: 11/21/2024 In control: Economic Development Commission
On agenda: 12/10/2024 Final action: 12/10/2024
Enactment date: 12/10/2024 Enactment #: 2024-421
Title: Public Hearing - RE: Commissioner Keigher - EDC - To Approve a Gaston County Level 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 Jasmine 1. Receive Citizen Comment 2. Close Public Hearing 3. Accept Motion
Sponsors: Tom Keigher
Attachments: 1. Adopted 2024-421, 2. Resolution

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

1. Receive Citizen Comment

2. Close Public Hearing

3. Accept Motion

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STAFF CONTACT

Donny Hicks - Director of Economic Development Commission - 704-825-4046

BUDGET IMPACT
budget

NA

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BACKGROUND

Project Jasmine is considering a total investment of approximately $35,000,000 to locate its operations into an existing building within Gaston County. Based on information provided by the company, Project Jasmine anticipates creating 346 new job opportunities with an average salary of $51,157 annually. The operations and investment in machinery and equipment anticipate generating significant ad valorem tax, sales tax, and other revenues to the County and will qualify for a Level Three Incentive Grant. The actual qualifying Local Investment Grant to be provided will be determined by the actual value of the net new taxable investment as determined by the Gaston County Tax Assessor.

POLICY IMPACT

N/A

ATTACHMENTS

Resolution