Commissioners to consider economic incentive agreement
Published 9:35 am Thursday, July 2, 2020
A public hearing regarding a proposed economic incentive agreement between Stanly County and Oakboro will be held at the Stanly County Commissioners meeting at 6 p.m. Monday.
According to a notice issued by the county, the agreement, which will be funded with General Fund revenues, is a 60 percent business development grant between Stanly and an existing manufacturer of commercial paper products in Oakboro.
The company will invest a minimum of $8,500,000 and create approximately 26 new jobs.
The grant will aid and encourage new taxable investment within the county.
Stanly will recover the cost from new tax revenue, and the community will benefit from the additional property, business and sales tax revenue which will stimulate the economy and expand employment opportunities.
The hearing will be at the Stanly County Commons Meeting Room.