Gaston County - File #: 23-038

• File #: 23-038
• Type: Public Hearing
• Status: Passed
• File created: 2/1/2023
• In control: Economic Development Commission
• On agenda: 2/28/2023
• Final action: 2/28/2023
• Enactment date: 2/28/2023
• Enactment #: 2023-039
• Title: Public Hearing - RE: Commissioner Keigher - EDC - To Amend Resolution No. 2022-265 To Authorize a Gaston County Level One or 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 Foundry Commercial 1. Receive Citizen Comment 2. Close Public Hearing 3. Accept Motion to Approve Resolution
• Sponsors: Tom Keigher
• Related files: 22-373

Date	Ver.	Action By	Action	Result
2/28/2023	1	Board of Commissioners	approved	Pass

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Public Hearing - RE: Commissioner Keigher - EDC - To Amend Resolution No. 2022-265 To Authorize a Gaston County Level One or 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 Foundry Commercial

1.  Receive Citizen Comment

2.  Close Public Hearing

3.  Accept Motion to Approve Resolution

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STAFF CONTACT

Sara Gilbert-Kay - Economic Development - 704-825-4046

BUDGET IMPACT
budget

N/A

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BUDGET ORDINANCE IMPACT

N/A

BACKGROUND

Gaston County developed an economic grant policy to provide global advanced manufacturing companies and distribution facilities with high quality locations. Foundry Commercial is considering a total investment of $25,600,000 to establish a 280,460 sq. ft. warehouse and distribution facility in the Southridge Business Park. The Board previously approved a Level One investment per Gaston County Resolution 2022-265 for this project. However, Foundry Commercial anticipates that its investment will exceed the threshold for the Level One Grant under the current policy. Gaston County Economic Development is requesting to amend Resolution 2022-265 to a Level Two Grant under the same policy in place. It is anticipated that the Company’s capital investment and operations will generate significant ad valorem tax, sales tax and other revenues to Gaston County.

POLICY IMPACT

N/A

ATTACHMENTS

Resolution