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Public Hearing - RE: Commissioner Keigher - EDC - To Approve a Gaston County Level One Incentive Grant Pursuant to N.C.Gen.Stat. 158-7.1; To Authorize an Application to the NC Department of Commerce Rural Economic Development Division Building Reuse Grant Program; To Authorize Gaston County to Enter into an Economic Development Agreement (EDA) with Project Precise
1. Receive Citizen Comment
2. Close Public Hearing
3. Accept Motion to Approve
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STAFF CONTACT
Sara Gilbert-Kay - Economic Development Commission - 704-825-4046
BUDGET IMPACT
budget
No Additional County Funds.
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BUDGET ORDINANCE IMPACT
NA
BACKGROUND
Project Precise is considering a total investment of $4,000,000 to design and build additional buildings to increase its manufacturing and distribution facility in Gaston County. The investment is anticipated to add approximately 31 new jobs with an average salary of $58,871 over the next twelve months. Project Precise would be eligible for a Level One Grant Incentive. Project Precise is requesting support in submitting an application to the N.C. Department of Commerce Rural Economic Development Division Building Reuse Grant Program for a $230,000 grant for support including a cash match of five percent ($11,500) of the amount of the grant. The cash match will not be additional funds, the Local Investment Grant will be used as the 5% match for the Building Reuse Grant.
POLICY IMPACT
N/A
ATTACHMENTS
Resolution