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Commissioners to consider economic incentive agreement

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.

 

About Chris Miller

Chris Miller has been with the SNAP since January 2019. He is a graduate of NC State and received his Master's in Journalism from the University of Maryland. He previously wrote for the Capital News Service in Annapolis, where many of his stories on immigration and culture were published in national papers via the AP wire.

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