News

Companies eye county for $270M investment, 281 jobs

By Lightning Reports, Published: August 22, 2022

An agriculture company is considering locating a $260 million production facility and a North Carolina company may invest $10 million in land and equipment in Henderson County, according to separate legal notices the Hendersonville Lightning published Wednesday.

The agriculture company, code named Project Delta, is contemplating the quarter-billion-dollar investment over seven years, not including land acquisition costs, to build a facility that would employ 227 people at an average wage of $88,000 a year plus benefits. 

The Henderson County Board of Commissioners in a closed session on Monday agreed to offer the company up to  $9,889,308 in economic development incentives over seven years, including a $3,975,000 advance the company would repay with the first incentives it earned.  

The county would take a first-security interest in the land the company buys. As incentives are earned over the course of the seven-year term, the amount would be credited to repay the initial advance. Amounts earned in excess of the initial advance would be paid directly to the company.

Commissioners also are offering tax inventives to a North Carolina company, code named Project Chicago, that may invest $10 million in land and equipment to bring 54 jobs paying $58,000 a year plus benefits. The company asked to "remain anonymous at this time due to competitive pressures," the county legal advertisement said. The company plans to invest $1 million in real property and $9 million in equipment, the public notice said.

The Board of Commissioners will hold a public hearing at 5:30 p.m. Tuesday, Sept. 6, to consider both economic development incentive packages. No other information was immediately available about the either of the prospects.