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Commissioner Keigher - EDC - To Authorize Acceptance of the NCDOC Rural Economic Development Division Building Reuse Grant for the Benefit of Polykemi and To Authorize a Fund Balance Appropriation for the Required Local Match of $8,750
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STAFF CONTACT
Donny Hicks - Economic Development Commission - 704-825-4046
BUDGET IMPACT
budget
Gaston County will provide a match of $8,750.00.
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BUDGET ORDINANCE IMPACT
N/A
BACKGROUND
Polykemi USA, which located in the Gastonia Technology Park in 2021, is planning a total investment of $11.8 million in a 50,000 sf speculative building in Gastonia to upfit, customize, and operate a plastics compounds production facility and the firm intends to create 22 new jobs over the next two (2) years. This will potentially increase property and sales tax revenue based upon Polykemi USA committing to the expansion of the manufacturing plant in Gaston County. Gaston County Board of Commissioners desires to support this expansion project so as to induce the company to continue to provide good job opportunities and capital investment which will enhance the County’s ability to attract additional business and industry.
POLICY IMPACT
N/A
ATTACHMENTS
Resolution; Budget Change Request (BCR)