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RowanWorks touts economic development success stories

SALISBURY — Rowan County paid $150,264 in incentives in 2012, while companies that receive the grants — or have in the past — paid $7.7 million in property taxes last year, according to RowanWorks.
The county’s Economic Development Commission shared an analysis of incentives and touted success stories Thursday night when leaders rolled out their annual report in front of business and political leaders from across Rowan.
Highlights included:

• Tuscarora Yarns, project announced in 2011 and completed in 2012. Retained 57 jobs and added 125 in China Grove. Invested $6.3 million and scheduled to receive their first incentive payment this year.
• Boral Composites, announced in 2010 and completed in 2012. Employs 23 people, more than the goal of 10. Invested $12 million. Scheduled to receive their first incentive payment this year.
• Norandal, approved in 2010. Retained 163 employees and now employs 182, three less than estimated. Invested $7 million. Scheduled to receive their first incentive payment this year.
• Universal Forest, announced in 2011 and completed in 2012. Created 49 new jobs. Eligible for a one-time grant of $37,500 from Salisbury and Rowan County.
• Henkel, approved in 2009. All phases completed earlier this year. Maintained 81 jobs and created 96 of a projected 103 jobs, continuing to hire. Scheduled to receive their first incentive payment this year.
• Daimler Military Trucks, approved 2009 and completed in 2011. Eligible for first incentive payment in 2012. Employed 695 at time of project announcement and has 1,700 workers today.
Contact reporter Emily Ford at 704-797-4264.

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