Commissioners to consider incentive grant
Published 12:10 am Sunday, November 18, 2018
By Andie Foley
More business expansion could be heading to Rowan County, as commissioners on Monday will hear an EDC proposal regarding “Project Peach.”
According to Scott Shelton, vice-president for Rowan’s Economic Development Commission, the company behind the project is an advanced manufacturer with an existing presence in the county employing “a large number of people in our community.”
The company, which also has an international presence, is considering an expansion and investment in new equipment. Rowan is among three facilities under consideration, numbered among locations in South Carolina and Ohio.
If Rowan is selected, the project could lead to 58 new jobs in the county as well as $29.5 million in investment through facility improvements and major equipment upgrades.
The new jobs would pay an average annual salary in excess of $42,000, with benefits.
In effort to lure the company towards Rowan, the EDC is requesting the county offer a Level 1 investment grant, or 75 percent of taxes paid returned as a grant over five years.
If approved, Rowan would therein contribute $674,095 in grants over five years, retaining $224,701.
Commissioners will hold a public hearing regarding the proposal during their Monday meeting, held at 6 p.m. on the second floor of the Rowan County Administration Building.
In other business from Monday’s agenda:
- Commissioners will hold a public hearing regarding the 2019 Proposed Standards, Schedules and Rules.
The standards, schedules and rules will be used by the Rowan County Assessor’s Office as workers appraise property, a requirement of the Machinery Act of North Carolina for the 2019 Countywide Reappraisal.
Referred to as the county’s Schedule of Values, reappraisals occur every four years. Monday’s public hearing will precede the commissioner’s adoption of the schedule on Dec. 3.
- Commissioners will hold a public hearing regarding updates to the Farmland Preservation Ordinance.
- Commissioners will hear a request from the Rowan County Animal Shelter for two additional special adoption events.
- Commissioners will discuss their December 2018 meeting schedule.
- Commissioners will select a NCACC voting delegate for the 2019 Legislative Goals Conference.