Notice is hereby given pursuant to N.C. Gen. Stat. 158-7.1 that the Transylvania County Board of Commissioners will hold a public hearing at a regular meeting on May 9, at 4:00 p.m., or as soon thereafter to receive public input on proposed incentive grants to a manufacturing company known as Project Defense.
Project Defense is a company which is contemplating investments in the County in real estate and machinery/equipment.
Under the project as proposed, the public benefits to be derived from the capital project include a total taxable investment by Project Defense in increments through 2026 of at least $334,000 in real and business property. The project as proposed would result in the creation of 11 new jobs through 2024, at an average wage of $41,545, which exceeds the Transylvania County average wage of $39,028 for full-time employment, plus other benefits. The contemplated incentives would last for a period not to exceed (4) years. Based on the new investment, the number of new employees, and the Board’s incentive guidelines the maximum amount of incentives to be considered in this grant over the total period is expected to be valued at $7,509.89. The transaction will be detailed at the public hearing on May 9th.
In addition to holding the public hearing, at this meeting the Board may approve the making of the grants as described above, or as amended, and may approve and enter into, or authorize the County to enter into, one or more economic development agreements with respect to the project.
If approved, the grants would be funded through the County’s general funds. The hearing will be held during a regular meeting of the Board of Commissioners at 4:00 p.m. on Monday, May 9, 2022 in Commissioners’ Chambers at the County Administration Building located at 101 S. Broad Street, Brevard, NC. In accordance with the NC Open Meetings Law, all meetings are open to the public and the public is invited to attend and comment.