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Commissioners approve $133,000 performance grant to Southern Electrical Equipment Co. for Project Homecoming
Summary
Union County awarded a step‑2 economic development incentive grant not to exceed $133,000 over five years to Southern Electrical Equipment Company (Project Homecoming) to support a $7 million investment and consolidation of operations that the county’s economic development department expects to create 82 net new jobs.
The Board of Commissioners voted Thursday to award a step‑2, performance‑based economic development incentive grant not to exceed $133,000 over five years to Southern Electrical Equipment Company, a manufacturer planning to consolidate operations in Union County under the project name “Project Homecoming.”
Ron Veil, Union County’s economic development director, told commissioners the company plans to purchase and upfit an existing 109,000‑square‑foot facility and invest about $7 million overall — roughly $5 million in building upfit and $2 million in production equipment. The company expects a net gain of 82 local jobs with an average annual wage of about $64,000.
“The grant will be based upon the Union County Tax Office’s appraised value each year on the company's anticipated investment,” Veil said, and he reported county staff estimates the new taxable investment would generate about $205,800 in ad valorem taxes over the same five‑year period if all other factors remain constant. The economic development department recommended the grant to help secure the investment and jobs.
Andrew Panto, CEO of Southern Electrical Equipment Company, told the board he and his family live in the county and that the firm has been in business since 1920; he said the company’s customers are utilities across the U.S. and internationally. “We are Union County residents ourselves,” Panto said, noting the firm’s long history in the Charlotte area and explaining that consolidation in Union County would allow operations to expand.
The motion approved by the board authorized the county manager to negotiate and execute an agreement substantially consistent with the agenda item. Commissioners voted in favor by voice; no roll‑call tally was given in the meeting minutes.
Why it matters: The grant is performance based and explicitly tied to the company’s taxable investments and job creation. County staff judged incentives an important factor in securing the consolidation and estimate the project will bring new tax revenue and higher‑paying jobs to the county.
