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Public Hearing - RE: Commissioner Keigher - EDC - To Approve a Level One Economic Incentive Grant to Project Frosty
1. Receive Citizen Comment
2. Close Public Hearing
3. Accept Motion to Approve
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STAFF CONTACT
Donny Hicks - Economic Development Commission - 704-825-4046
BUDGET IMPACT
budget
N/A
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BUDGET ORDINANCE IMPACT
N/A
BACKGROUND
Project FROSTY is considering a total investment of $9 million in the purchase of an existing building in the Gastonia Technology Park, and the purchase and installation of machinery & equipment to establish an advanced manufacturing facility with the expectation to complete this investment on or before December 31, 2021; the firm intends to create at least twenty-two (22) new jobs, within five years of establishing operations, expecting to pay an average annual wage of $56,000 which is above the current average annual wage for Gaston County. The Board of Commissioners believes this project will stimulate and stabilize the local economy, promote business, and result in the creation of new jobs in the County.
POLICY IMPACT
N/A
ATTACHMENTS
Resolution