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Commissioner Keigher - EDC - To Authorize Acceptance and Appropriation of the NCDOC Rural Economic Development Division Building Reuse Grant ($272,000) for the Benefit of Textum OPCO, LLC (Project Helms Deep) and To Authorize a Fund Balance Appropriation for the Required Match of $13,600
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STAFF CONTACT
Alisha Summey - Economic Development Commission - 704-825-4046
BUDGET IMPACT
budget
Community Investment Fund: Increase fund balance appropriation by $13,600. Increase transfer to Capital Fund by $13,600.
Capital Fund: Increase transfer in from CIF by $13,600. Increase state revenue by $272,000. Increase capital expenditures by $285,600.”
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BACKGROUND
Textum OPCO, LLC is considering a total investment of at least $10,000,000 to purchase new machinery and equipment and expand their operations into a manufacturing facility in Gaston County. The Company anticipates creating 34 new jobs over two years with an average annual salary exceeding $54,736 per year in Gaston County which is above the County average wage. This will potentially increase property and sales tax revenue based upon Textum OPCO, LLC committing to the upfit of the manufacturing plant in Gaston County. The Gaston County Board of Commissioners desires to support this expansion project so as to induce the company to continue to provide good job opportunities and capital investment which will enhance the County's ability to attract additional business and industry. Board has previously approved local match in Board Action 2026-052 for $13,600.
POLICY IMPACT
N/A
ATTACHMENTS
Resolution and Budget Change Request (BCR)