3/8/2017 – Caldwell County competing for a pair of business expansions

Posted on: March 8th, 2017 by admin

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March 8, 2017

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Caldwell County is competing with sites in other states for two business expansions that could total up to 125 jobs, county officials said.

 

The names of both companies have not been released at the request of the companies, according to materials presented to the Caldwell County Board of Commissioners before it approved incentives offers for the two.

 

The larger of the two possible expansions, identified as Project Joynes, involves an investment of up to $20 million that could create up to 100 full-time jobs over three years, according to Caldwell County Economic Development Commission Executive Director Deborah Murray.

 

The commissioners approved incentives of $2,000 for each job actually created. That money would serve as the county’s matching funds for the company to apply for state grants, including a grant to assist with building renovations, Murray said.

 

The second company, referred to as Project Transfer, is a local “warehouse and transportation outfit” that was bought by a company based in Tennessee. Murray said she has been working to encourage the company to transfer base operations to Caldwell from Tennessee, which would create up to 25 full-time jobs over three years.

 

The commissioners approved incentives of $2,000 for each job actually created, and the money would also serve as the county’s matching funds for the company to apply for a state grant.

 

Jobs incentives are not paid until after jobs have been documented as created and filled for one year, and the money can be reclaimed if the job goes away before another year.

 

In another economic development decision, the commissioners approved selling a nearly 15-acre property on Beecher Anderson Road, across from the National Guard Readiness Center, to a company identified as Project Zero for $50,000.

 

The sale is contingent on the company receiving a state grant, and the county must first advertise the sale to see if anyone is willing to pay more. The company plans to give back a portion of the property to the county, Murray said.

 

If Project Zero were to come to Caldwell, the company would create up to 30 full-time jobs. The company is considering sites in other states, Murray said.

 

By Briana Adhikusuma, (Lenoir) News-Topic

 

 

 

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