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Public Hearing - RE: Commissioner Brown - EDC - To Approve a Gaston County Level One Or 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 Project Nexus
1. Receive Citizen Comment
2. Close Public Hearing
3. Accept Motion
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STAFF CONTACT
Alisha Summey - Economic Development Commission - 704-825-4046
BUDGET IMPACT
budget
Appropriate State revenues. No additional County funds.
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BUDGET ORDINANCE IMPACT
N/A
BACKGROUND
Project Nexus is considering a total investment of $27,000,000 to establish a 170,000 square foot warehouse and distribution facility near Cox Road, with the expectation to complete this investment on or before December 31, 2026. It is anticipated that the Firm’s capital investment in and at the Property thereat will generate significant ad valorem tax, sales tax and other revenues to the County and will qualify for a Level One or Level Two Grant. The County will prepare a detailed Economic Development Agreement (EDA), between Nexus, the County and the City of Gastonia, so as to induce the firm to generate significant capital investment in a facility which will enhance the County’s ability to attract additional business and industry which provide good job opportunities.
POLICY IMPACT
N/A
ATTACHMENTS
Resolution