Board to talk incentive grant
By Steve Herring
Published in News on August 1, 2016 1:46 PM
A public hearing on a potential $56,730 economic incentive grant for a yet-to-be-identified industry will be held Tuesday morning before Wayne County commissioners.
To qualify, the company will be required to create 30 new jobs with annual average salaries of $33,800 and making an investment of $3.750 million in equipment and building.
The amount represents a Level I grant under the Wayne County Industrial Development Incentive Grant Policy for New and Existing Industries.
The public hearing will be held at 9:30 a.m. in the commissioners' meeting room on the fourth floor of the Wayne County Courthouse Annex.
It is on the agenda for the board's first-of-the-month meeting that will begin with an agenda briefing at 8 a.m. followed by the formal session at 9 a.m.
The company's identity will be announced at the meeting.
Approval of the grant is also on the agenda.
If approved, it would be the third such grant to be approved since the policy was adopted in August 2015.
Payments of $11,346 per year over a five-year period will begin once the project is completed.
Only tax money paid in by a company is used for the grant it receives.
The company pays its property taxes, and the county in turn refunds a portion of those taxes to the company dependent on the company completing its project within two years once under way and creating the promised number of jobs and investment.
Dec. 1 is the effective start date of the project for construction/upgrade of an existing manufacturing facility and the installation of equipment and machinery.
Of the $3.750 million cost, $2.625 million qualifies for the incentive.
The grant amount could be adjusted up or down depending on the final actual project cost.
Also, if the company fails to meet the promised number of jobs, the county may reduce the payment amount of the grant by 5 percent of the county's current average wage for every job shortfall.
Under the incentive policy, grants are broken down into four levels based on the cost of a qualifying capital investment by new or expanding industries:
* Level I (65 percent): $1 million to $4,999,999.
* Level II (75 percent): $5 million to $9,999,999.
* Level III (85 percent): $10 million to $24,999,999.
* Level IV (95 percent): $25 million or more. Grants at this level may qualify for additional incentives.
The annual grant is calculated by multiplying the dollar amount of the investment, as determined by the Wayne County Tax Department, by the current county tax rate and then by the percentage level of the grant.
In other business Tuesday, commissioners will be asked to consider motions to:
* Approve the preliminary plat for Prestonwood subdivision that consists of 48 lots near the southeast corner of N.C. 581 South and U.S. 70 West.
* Adopt an ordinance to establish a capital project fund for the fiber optic loop to serve the Carey A. Winders Detention Center, a new 911 call center and the Maxwell Regional Agricultural Center. In a related matter, the board will be asked to approve a resolution declaring the county's intent to reimburse its expenditure for the project through the proceeds of tax-exempt financing.
* Amend the county policy on the stipend paid to members of the Wayne County Sheriff's Office SWAT team and K-9 officers. The county is currently paying an additional 2.5 percent to each deputy who is working these additional duties. Sheriff Larry Pierce is requesting that it be changed to a simple $100 per person per pay period. Pierce is also asking that Lt. Brian Dawson be eligible for this stipend. Dawson is the involuntary commitment coordinator with Eastpointe and is available 24 hours a day to arrange transportation for involuntary commitments.
* Approve a resolution honoring Purple Heart recipients. The annual Purple Heart Banquet will be held Friday, Aug. 5.
* Declare property at 102 S. John St. and 206 E. Walnut St. as surplus and donate them to the city of Goldsboro. The board also will consider a$60,000 appropriation to the city to help with planned renovations.
Also in the agenda:
* Wayne County 4-H Member Stephen Finch, a member of the 4-H Robotic Club and a junior leader, will make a presentation as part of his requirement to participate in the 2016 North Carolina Association of County Commissioners Youth Voice Program.
* Emergency services systems technician Scott Disch, a member of the New Hope Volunteer Fire Department, and U.S. Air Force Master Sgt. Robert Poll, a member of the Little River Volunteer Fire Department, will be recognize d for participating in the Stephen Siller Tunnel to Towers 5K Run in New York City on the 15th anniversary of 9-11.
* George D. Williams will make a presentation concerning a law enforcement appreciation dinner on Sept. 8.
The public comments portion of the meeting will start at 9:15 a.m. when speakers will have four minutes to comment on agenda items and two minutes on non-agenda items.
The only item on the consent agenda is budget amendments.