McCrory, Kluttz to stop in Kannapolis to tout tax credits

Published 12:10 am Thursday, May 14, 2015

Gov. Pat McCrory and Cultural Resources Secretary Susan Kluttz today will once again return to the region as a team for an event to tout historic tax credits in downtown Kannapolis.

For months Kluttz has visited various historic sites around the state in an effort to revive historic tax credits that ended in 2014. McCrory has joined Kluttz on many of the visits.

The event will be at 9:30 a.m. at Gem Theatre, 111 West First Street.

A news release about the event said McCrory and Kluttz’s visit will focus on the approximately 50 acres of downtown property being purchased by the city of Kannapolis. The downtown¬†property includes the former Cannon Village, the Gem Theatre, the former K-Town Furniture, the current Kannapolis City Hall offices, Wells Fargo Bank, the current Kannapolis Police Department and the former Plant 4 site.

Since 1998, more than 2,400 state historic tax credit projects have been completed statewide bringing more than $1.6 billion of private investment into North Carolina communities, the news release said. ¬†North Carolina’s state historic tax credit program ended on December 31, 2014.

“The Historic Tax Credits brought jobs and economic development to rural towns and big cities across North Carolina,” Kluttz said in the news release. “The rebirth of one abandoned downtown building has a ripple effect throughout a community and often sparks a renaissance of development in nearby structures. In addition, these historic buildings and mills are an emotional tie to our heritage and exemplify what makes North Carolina unique. These credits are critical for North Carolina’s economic recovery.”

Contact reporter Josh Bergeron at 704-797-4246