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Public Hearing - RE: Commissioner Chad Brown - EDC - To Authorize a Resolution Providing Eligibility for Project RODEO to Participate in the Local Investment Grant Program Over the Course of Their Multi-phased Investment for a Standard Level One Grant
1. Receive Citizen Comment
2. 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
Project RODEO proposes to lease a building, to be constructed on the site known as the former Duke Energy Riverbend Power Plant in Mount Holly. Project RODEO intends on establishing a technical training facility by investing approximately thirteen million one hundred thousand dollars ($13.1 million) of investment in machinery and equipment. Project RODEO expects to complete this multi-phased investment on or before December 31, 2023. At least 23 new employment positions, with an estimated average annual wage of $82,333, which exceeds the 2019 Gaston County average annual wage of $39,852, are to be created.
The company's North American Industrial Classification System number does not currently qualify Project RODEO to participate in the Local Investment Grant Program. The EDC request is for Gaston County Board of Commissioners to provide eligibility for Project RODEO to participate in the Local Investment Grant Program over the course of their multi-phased investment. All of the details of this local incentive grant proposal will be incorporated into an economic development agreement involving the County, City of Mount Holly and company.
Project RODEO, is a part of a major technical services provider to the energy sector of the global economy. The energy industry makes modern life possible, but few realize how intertwined the electric power, pipeline, industrial and communications industries are in our daily lives. Duke Energy has acquired Piedmont Natural Gas and has fiber capabilities. This propose...
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