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Council Hears Requests for Tax-Base Grants from Custom Flavors and Hendrick-Linked Developer
Summary
At a public hearing, city staff and Cabarrus County economic partners presented two proposed property- and job-focused incentive packages: a three-year 50% tax-based grant for Custom Flavors and a one-year 85% grant tied to a future advanced manufacturing building adjacent to Hendrick Motorsports.
Concord heard public-hearing presentations on two economic-incentive requests that would reduce property tax revenue in exchange for local investment and job creation.
Sam, a presenter with Cabarrus County CDC, described Project Wildcat — Custom Ingredients Incorporated (doing business as Custom Flavors) — proposing a location at 7955 West Winds Boulevard in Concord. Sam said the company, a California-headquartered flavor developer, plans to invest about $7,750,000 in real and personal property during…
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