Wayne County holds public hearing on sale and incentive package for ‘Project Istanbul’ (Pelsan); sale price, job and investment commitments outlined

The Wayne County Board of Commissioners opened a 9:30 a.m. public hearing on June 17 to receive comment on a proposed economic incentive agreement with a company identified in the meeting as Pelsan (referred to in notices as “Pell San Teksteel” / “Project Istanbul”). The proposal would convey approximately 31.83 acres and two shell buildings at 404 and 408 Gateway Drive in Goldsboro under a negotiated sales price of roughly $5,186,400, subject to final survey adjustments.

County economic development staff said the company has committed to $82,600,000 in capital improvements and to create 216 jobs in Wayne County. The county negotiated an upfront incentive structured as reductions in the sale price rather than a typical annual rebate: staff described a $1,500,000 reduction tied to the shell buildings and a discounted price on an additional 17.33-acre tract (sold at $40,000 per acre rather than an appraised $100,000 per acre). County staff calculated the combined incentive at about $2,539,800; staff emphasized those figures are subject to final survey and parcel adjustments.

Staff said the buyer will…