Forsyth County Considers Economic Incentives for Project Touchdown Facility

As the afternoon sun streamed through the windows of Forsyth County's government building, the Board of Commissioners gathered to discuss a promising economic development initiative. The atmosphere buzzed with anticipation as officials considered an incentive package aimed at attracting a new company, currently operating under the code name "Project Touchdown."

The proposal, presented during the meeting, outlined a significant capital investment of $5,635,000 that the company plans to make in Forsyth County. This investment is expected to create 30 full-time jobs, each offering an average annual wage of $59,217, complete with health benefits. The potential economic impact is substantial, with an estimated $231,032 in new tax revenue projected over the next decade.

The incentive package, valued at a maximum of $53,962, is designed to be paid out over five years, contingent upon the company meeting specific capital investment and job growth requirements. Notably, the payments will only be made after the company fulfills its tax obligations and provides documentation of the new jobs created. Each annual payment will be capped at 50% of the net new taxes generated for the county.

However, the competition is fierce. The company is also evaluating other locations, including South Carolina, Virginia, and Georgia, which adds urgency to the discussions. To further bolster its case, the company is seeking additional support through a North Carolina Department of Commerce building reuse grant and a five-year incentive from the City of Winston-Salem.

The Board plans to revisit this topic on September 8, with a public hearing scheduled for September 11, where the company’s name will be revealed. As the meeting concluded, the commissioners expressed optimism about the potential benefits this project could bring to the community, highlighting the importance of swift action to secure this opportunity for Forsyth County.