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Developer seeks one-year, 50% tax grant for Conforce Gateway industrial park
Summary
A developer of a proposed 55-acre industrial park called Conforce Gateway asked the Concord City Council for a one-year, 50% economic development tax grant; staff estimated the one-year grant at $94,500 against a projected $45 million investment.
Sam, a representative from Comerara CDC, told the Concord City Council at its work session that the Conforce Gateway project would be built on a 55-acre site off Highway 73 at Exit 55 and would total about 400,000 square feet across multiple buildings. The company is asking the city to consider a one-year, 50 percent economic-development tax grant for the speculative development.
The project team estimates a $45,000,000 investment in real property and said phase 1 — four buildings — would deliver in 2026, with a second four-building phase delivering in 2028. Building sizes would range from about 10,000 to 64,000 square feet and suites from about 4,000 to 30,000 square feet. Sam said the buildings would be available for lease or purchase and that the developer hopes to attract light and advanced manufacturing, R&D, showrooms, engineering, light assembly, mechanical service providers and creative agencies.
City staff provided a revenue estimate tied to the developer’s request. The staff analysis on the one-year, 50 percent grant shows an estimated grant amount of $94,500; staff also estimated one-year net revenue to the city at $94,500 under the terms presented.
No formal council vote on the grant was recorded during the work session; the item was presented for council consideration and scheduled for action at a later meeting.
Sam said the project team has a long track record of similar developments and closed his remarks by offering to answer council questions.
