title
Public Hearing – RE: Commissioner Keigher – EDC – To Amend Resolution No. 2022-099 To Authorize a Gaston County Level Four Incentive Grant Pursuant to N.C.Gen.Stat. 158-7.1 and To Authorize Gaston County to Amend the Economic Development Agreement (EDA) with Edgewood Industrial Phase 1 Owner LP
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
BACKGROUND
The Commissioners previously approved a Level Two and Level Three Incentive Grant on 4/26/22 and the County prepared and executed a detailed Economic Development Agreement (EDA), between Edgewood Industrial Phase 1 Owner LP, the City of Bessemer City, 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. Trinity Capital Partners has provided updated information for the development which shall qualify for a Level Four Incentive Grant.
Trinity Capital Partners (Edgewood Industrial Phase 1 Owner LP) is considering a total investment of over $60,000,000 for a build to suit project in the Edgewood 85 Business Park in Bessemer City. The development will consist of manufacturing and distribution space, followed by additional construction of a headquarters/office facility, and will be developed under the name of Edgewood Industrial Phase 1 Owner LP. 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. Upon approval, the Chairman, Vice-Chairman or the County Manager are authorized to execute any documents necessary to complete an amended Economic Development Agreement with Edgewood Industrial Phase 1 Owner LP.
POLICY IMPACT
N/A
ATTACHMENTS
Resolution