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Public Hearing - RE: Commissioner Keigher - EDC - To Authorize a Gaston County Level One Incentive Grant and Approve the Conveyance of Approximately 9.03 Acres of Land (Lot 4) at the Apple Creek Business Park Pursuant to N.C.Gen.Stat. 158-7.1 and To Authorize Gaston County to Enter Into an Economic Development Agreement (EDA) with Project Tech
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
N/A
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BACKGROUND
Project Tech is considering a total investment of $6,300,000 to design and construct a manufacturing facility and install machinery and equipment at Apple Creek Lot 4 which anticipates creating 12 new job opportunities with an average annual salary of $68,000. North Carolina General Statute 158-7.1 authorizes a county to undertake an economic development project by conveying property to a company in order to induce the company to locate or expand its operations within the county. Gaston County is the owner and developer of the Apple Creek Corporate Center, of which Lot 4 is approximately a 9.03 acre tract. Gaston County and Project Tech will engage in private negotiations and actual acreage to be conveyed will be determined during such negotiations for the conveyance of Lot 4, to the end that Project Tech may construct a manufacturing facility on the tract, and will reach an agreement on the terms for conveyance of the property and for a Level One Economic Incentive Grant. 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.
POLICY IMPACT
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ATTACHMENTS
Resolution and Map (Lot 4)