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Public Hearing - RE: Commissioner Keigher - EDC - To Approve a Gaston County Level One 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 Olive Tree
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
Appropriate State revenues. No additional County funds.
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BUDGET ORDINANCE IMPACT
N/A
BACKGROUND
Project Olive Tree is considering a total investment of $2,100,000 to increase their manufacturing and distribution capabilities in Gaston County. Project Olive Tree’s investment is anticipated to add approximately 5-8 new jobs with an average salary of $35,000 over the next twelve months. 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