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Public Hearing - RE: Commissioner Keigher - EDC - To Approve a Gaston County Level 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 Project Lucas
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 Commission - 704-825-4046
BUDGET IMPACT
budget
No additional County funds.
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BUDGET ORDINANCE IMPACT
N/A
BACKGROUND
Project Lucas is considering a total investment of $16,000,000 to expand their existing operations in Gaston County, to include the purchase and installation of machinery & equipment. The firm intends to create at least 13 new jobs within one year of completing their investment, expecting to pay an average wage of $67,300. 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 Two Grant.
POLICY IMPACT
N/A
ATTACHMENTS
Resolution