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Public Hearing - RE: Commissioner Keigher - EDC - To Authorize a Gaston County Level One Incentive Grant and Approve the Conveyance of 31.62 Acres of Land (Lot 12) at the Apple Creek Business Park Pursuant to N.C.Gen.Stat. 158-7.1; Authorize Gaston County to Enter Into an Economic Development Agreement (EDA) with Project Wine
1. Receive Citizen Comments
2. Close Public Hearing
3. Accept Motion
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STAFF CONTACT
Donny Hicks - Economic Development Commission - 704-825-4046
BUDGET IMPACT
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No budget impact in current fiscal year. Local incentive grants are included in the County’s annual budget in the year of payout.
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BACKGROUND
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 and Project Wine will engage in private negotiations for the conveyance of a 31.62-acre tract (Lot 12) in the Apple Creek Business Park, to the end that Project Wine may construct a manufacturing facility on the tract upon reaching an agreement on the terms for conveyance for the real property and for a Level One Incentive Grant. Project Wine is considering a total investment of $14,500,000 to design and build one building on Apple Creek Lot 12 for manufacturing and distribution. The building is estimated to be approximately 100,000 sq.ft. Project Wine proposes to create 19 additional job opportunities with an average salary of $42,554. 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
N/A
ATTACHMENTS
Resolution and Map (Lot 12)