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Public Hearing - RE: Commissioner Keigher - To Approve a Gaston County Level Two 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 IDI Logistics
1. Receive Citizen Comment
2. Close Public Hearing
3. Accept Motion to Approve Resolution
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STAFF CONTACT
Donny Hicks - Economic Development - 704-825-4046
BUDGET IMPACT
budget
N/A
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BUDGET ORDINANCE IMPACT
N/A
BACKGROUND
IDI Logistics is considering a total investment of $26,000,000 to design and build one building of 302,022 square feet at its Shannon Bradley Road location. Gaston County developed an economic grant policy to provide global advanced manufacturing companies and distribution facilities with incentives to develop high quality industries within the County. 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 Two Grant. The County will prepare a detailed Economic Development Agreement (EDA), between IDI Logistics, the County and the City of Gastonia, 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.
POLICY IMPACT
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ATTACHMENTS
Resolution