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Commissioner Keigher - EDC - To Authorize Acceptance and Appropriation of Project Deli’s NCDOC Rural Economic Development Divisions Building Reuse Grant Funds
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STAFF CONTACT
Richard Randall - Economic Development Commission - 704-825-4046
BUDGET IMPACT
budget
A 5% local match is no longer required of the local jurisdiction, and as a result, the local match will be totally assumed by the project company and will potentially increase property and sales tax revenue.
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BUDGET ORDINANCE IMPACT
Increase State revenues by $250,000 and appropriate $250,000 into Special Programs account.
BACKGROUND
Project Deli, which has operated in Gaston County since 2008, is preparing for a total investment of $6.9 million in an 12,500 square foot expansion of their manufacturing plant in Gaston County to accommodate additional research & development, warehousing, and cafeteria space. The firm intends to create 40 new jobs over the next 2 years. The average annual wage of these jobs is projected to be $44,840 with the current annual average wage for Gaston County being $44,781.
POLICY IMPACT
N/A
ATTACHMENTS
Resolution; Budget Change Request (BCR)