File #: 24-115   
Type: Resolution (Consent) Status: Agenda Ready
File created: 3/8/2024 In control: Economic Development Commission
On agenda: 1/1/2024 Final action:
Enactment date: Enactment #:
Title: CANCELLED - Public Hearing - RE: Commissioner Keigher - EDC - To Approve a Gaston County Level Four 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 Upcycle 1. Receive Citizen Comment 2. Close Public Hearing 3. Accept Motion
Sponsors: Tom Keigher
Attachments: 1. Resolution
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
No records to display.

title

CANCELLED - Public Hearing - RE: Commissioner Keigher - EDC - To Approve a Gaston County Level Four 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 Upcycle

1.  Receive Citizen Comment

2.  Close Public Hearing

3.  Accept Motion

body

STAFF CONTACT

Alisha Summey - Economic Development Commission - 704-825-4046

BUDGET IMPACT
budget

N/A

body

BUDGET ORDINANCE IMPACT

N/A

BACKGROUND

Project Upcycle is considering a total investment of $74,000,000 to expand their current operations with the investment of a manufacturing and distribution operation in Gaston County, this investment is to include the purchase and installation of machinery & equipment and real property. The firm intends to create approximately 300 new jobs over five years in Gaston County, with an average salary of $53,674 per year. 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 Four Grant.

POLICY IMPACT

N/A

ATTACHMENTS

Resolution