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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 Crescent Communities
1. Receive Citizen Comment
2. Close Public Hearing
3. Accept Motion to Approve Resolution
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STAFF CONTACT
Alisha Summey - Economic Development Commission - 704-825-4046
BUDGET IMPACT
budget
No additional County funds.
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BUDGET ORDINANCE IMPACT
N/A
BACKGROUND
Crescent Communities is considering a total investment of $22,000,000 million dollars to establish a 184,600 sq.ft, warehouse and distribution facility on Industrial Pike Rd., with the expectation to complete this investment on or before August 31, 2025. North Carolina General Statute §158-7.1 authorizes a County to undertake an economic development project by providing grants for the location of industry. 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 Incentive Grant.
POLICY IMPACT
N/A
ATTACHMENTS
Resolution