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File #: 24-008   
Type: Resolution (Consent) Status: Passed
File created: 1/5/2024 In control: Economic Development Commission
On agenda: 1/23/2024 Final action: 1/23/2024
Enactment date: 1/23/2024 Enactment #: 2024-019
Title: Commissioner Keigher - EDC - To Authorize an Application to the NC Department of Commerce Economic Development Division for the One NC Grant Application on Behalf of Project Creign (Heyco)
Sponsors: Tom Keigher
Attachments: 1. Adopted 2024-019, 2. Resolution
Related files: 23-499

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Commissioner Keigher - EDC - To Authorize an Application to the NC Department of Commerce Economic Development Division for the One NC Grant Application on Behalf of Project Creign (Heyco)

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STAFF CONTACT

Alisha Summey - Economic Development Commission - 704-825-4046

BUDGET IMPACT
budget

The required local match will be the Local Investment Grant previously approved which is 50% match of $75,000.00. The local match will be $37,500.00.

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BUDGET ORDINANCE IMPACT

N/A

BACKGROUND

Project Creign (Heyco) is considering a total investment of $21,000,000 to design and construct a manufacturing and distribution facility in Gaston County and anticipates creating 46 additional job opportunities with an average salary of $59,348. This will potentially increase property and sales tax revenue based upon Project Creign (Heyco) choosing to locate its manufacturing plant in Gaston County. Authorizing an application to the NC Department of Commerce Economic Development Division will induce the company to provide good job opportunities and produce a capital investment which will enhance the County’s ability to attract additional business and industry. The Board of Commissioners approved an incentive grant and authorized an EDA on 10/24/23 via 2023-342.

POLICY IMPACT

N/A

ATTACHMENTS

Resolution