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Public Hearing - RE: Commissioner Keigher - EDC - To Approve a Gaston County Level One 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 Helms Deep
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
Local Investment Grant - No additional funds will be required.
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BACKGROUND
Project Helms Deep plans to invest $8,000,000 to purchase and transfer advanced manufacturing machinery and equipment into Gaston County. This will increase their capabilities at their existing manufacturing facility in Gaston 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 One Incentive Grant. The County will prepare a detailed Economic Development Agreement (EDA), between Project Helms Deep, the County, and chosen municipality, 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
N/A
ATTACHMENTS
Resolution