News

County OKs incentives for what would be largest manufacturing investment

By Lightning Reports, Published: April 20, 2022

The Henderson County Board of Commissioners voted on Wednesday to authorize $6 million in tax incentives in an effort to lure a manufacturing company that would invest $185 million and bring 117 jobs paying at least $52,400 a year.

Brittany Brady, the president of the Partnership for Economic Development, said the company, which has a location in North Carolina, is looking at three other sites in the U.S.

With the county's approval of the incentives, the company leadership will evaluate all four proposals and make a decision by the July 1. The company plans to make the $185 million investment from 2023 to 2026 — $80 million to construct a building (not including land acquisition) and $105 million in equipment — and bring on the labor from 2025 to 2027, she said. The waived property taxes would total $5,939,588 over seven years.

"This would be the largest economic development project in our history," Commissioner Michael Edney said. "All these incentives are based on rebates after they've paid. There's an investment that incentivizes the company to come here."