EDC to talk about incentives during annual report meeting
SALISBURY — RowanWorks will present the agency’s annual report Thursday night, including an analysis of economic incentives paid to companies in exchange for jobs and investment.
The report will cover the past two years of economic development activity in Rowan County. RowanWorks Economic Development Commission will host the public event at 6:30 p.m. Thursday in the Gateway Building, 204 E. Innes St.
“We’ll focused on what we’ve accomplished and what we’re working on,” Executive Director Robert Van Geons said. “We will also include the most recent and best information on incentives and the return on investment.”
The presentation will cover performance metrics, retail expansion and marketing of the Rowan County Airport, Van Geons said. The audience will have the chance to ask questions.
The annual report will be available online.
Some Rowan County commissioners recently criticized the EDC for not supporting existing businesses. The city of Salisbury soon came to the defense of the EDC and Van Geons.
Pete Teague, EDC board chairman, listed these highlights that will be included in the annual report:
• Gildan Yarns is investing $43 million and will employ more than 200 people. The company bought the old PGT building.
• Henkel made an investment of $28 million, retained 81 jobs and added 108 when the company consolidated six plants to two in North America.
• Boral Composites invested $12.8 million and added 16 jobs in East Spencer.
• Tuscarora Yarns invested $6.3 million and created 124 new jobs in China Grove.
Contact reporter Emily Ford at 704-797-4264.