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REVISED/ Public Hearing - RE: Commissioner Jack Brown - EDC - To Authorize Gaston County to Complete an Application for a One North Carolina Grant and to Enter into an Economic Development Agreement (EDA) to Provide a Standard Level Two Incentive Grant - Project CATAMOUNT
1. Receive Citizen Comment
2. Accept Motion to Approve
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STAFF CONTACT
Donny Hicks - Economic Development - 704-825-4046
BUDGET IMPACT
budget
It is anticipated that there will be zero expenditures needed from the fund balance for the One North Carolina Grant required local match of $100,000 (50%). The match requirement will be sourced from the local investment grants from Gaston County.
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BUDGET ORDINANCE IMPACT
N/A
BACKGROUND
Project CATAMOUNT is considering a total investment of $20.6 million in new construction and machinery & equipment to establish an advanced manufacturing and technical facility in the Gastonia Technology Park with the expectation to complete this investment on or before December 31, 2023. The Company intends to create at least fifty-nine (59), new jobs within five years of establishing operations, expecting to pay an average annual wage of $59,661 with the current average annual wage for Gaston County being $39,852.
POLICY IMPACT
N/A
ATTACHMENTS
REVISED Resolution