Rowan County approves level-3 tax incentive for Project Powerball, citing up to 1,200 jobs

Rowan County commissioners on Monday approved a level-3 local incentive for Project Powerball, a manufacturing prospect the county says could create nearly 1,200 jobs over five years and bring hundreds of millions of dollars in investment.

Economic development staff told commissioners the company is evaluating several Southeastern locations and that Rowan County is one of the finalists. "If our community was selected, the company would create nearly 1,200 jobs over the next 5 years and also invest about $264,000,000 in business, personal property and real property during this time period," the staff member said. Staff later reported the company’s long-term plan could total about $500 million in investment.

The request sought a level-3 grant under Rowan County’s adopted incentive policy, described by staff as equal to 50% of property taxes paid over the next five years. Staff presented modeled projections using the county’s current tax rate (0.58) and assumptions about property and personal property investments: $70,000,000 in real property and about $194,000,000 in personal property by 2030. Based on those inputs, staff estimated the county would collect about $4.6 million in property tax during the five incentivized years, pay $2.3 million in incentives and net roughly $2.3 million during that period. Over 10 years, staff presented a scenario yielding $8.9 million in county revenue, $2.3 million in incentives and a $6.6 million net to the county.

Staff also described expected indirect impacts from Jobs EQ modeling: roughly 794 additional indirect and induced jobs in Rowan County, about $58 million in employee wages and benefits, and about $191 million in gross revenue tied to those indirect jobs. The presenter said the company plans to begin operations in summer of next year if it selects a location in the region.

Commissioners asked about clawback provisions if the company did not meet promised job targets. "If they don't meet their job goals for a particular year, it's reduced on a pro rata basis," the economic development staff member said. The staff member added that if employment falls below 50% of the pledged level the agreement terminates and the company must repay the previous three years of incentives to the county.

The presenter said the company would likely apply for state incentives as well and that any local match requirements for state incentives would be satisfied by the requested level-3 grant. Staff noted the project proposes to use an existing, vacant facility in the county that has been unused for about two years; no specific facility address was disclosed during the meeting.

After closing a brief public hearing with no speakers, the commission voted to approve the incentive request. Commissioners did not specify additional conditions in the public record beyond the standard clawback language described by staff.

Why it matters: County staff framed the incentive as a way to reuse a vacant facility, recover earlier job losses tied to a previous consolidation, and raise the county’s average wages. Commissioners and staff emphasized competition with other states for large projects and cited local workforce and infrastructure as selling points.

What’s next: Staff will continue negotiations with the company and coordinate any required state incentive applications; no timeline beyond the company's stated summer‑start target was given.