SALISBURY — The Rowan County Board of Commissioners will meet Monday to hold a public hearing on an incentive offer for a business considering bringing a new distribution facility. The business, called Project Swarm to protect its anonymity, is expected to bring 112 full-time-jobs and invest $41 million in real estate and equipment.

According to the proposal submitted to the board of commissioners by the Rowan EDC, the business is requesting a Level 2 grant from the county’s Investment Grant Program. This would allow the company to receive 40 percent of its paid taxes for the next five years back from the county as long as the company continues to hit the employment and investment goals.

The county uses a point system to determine what level of grant a business is eligible for under the program. Project Swarm received a point for projecting between 51 and 250 jobs as well as a point for projecting between $10 million to $50 million in new capital investment. It also received two points for projecting to pay an average wage 110 percent of the county’s average of $50,138, a point for distribution being one of the county’s target industries, and a final point for planning to provide health insurance and pay at least half of the premium.

The EDC’s proposal projects an average of around $125,000 in annual net revenue for the county during the first five years. The EDC projects Project Swarm to provide an average of around $185,000, bringing the total value of the project to about $15 million after 1o years.

The meeting will start at 6 p.m. and be held in the Rowan County Administration Building on West Innes Street.

Other business the board will discuss during the meeting includes:

• The board will hear public comment. Those who are unable to attend in person may also view via Zoom at https:bit.ly/rowanboc6pm with the password 028144 or join by phone with the numbers 602-753-0140, 720-928-9299, or 213-338-8477.
• The board will consider a request from the Rowan Chamber of Commerce for a Permit to Exceed for the Dragon Boat Festival to be held on July 22. The permit would allow the festival to exceed the normal noise requirements in the county.
• The board will consider a request for a Permit to Exceed for a free concert titled “Float the Goat” to be held on a floating stage near “Goat Island” in High Rock Lake on August 6.
• The board will consider appointments to open seats on various advisory boards throughout the county.