Forsyth County approves incentive for ReAgent Chemical Services' U.S. plant

Forsyth County commissioners on Sept. 11 approved a $53,962 incentive over five years to encourage ReAgent Chemical Services to locate a North American manufacturing facility in the county. The board approved the measure after a public hearing and a staff overview of the company nd proposed incentive.

Helena Fiore, community and economic development program administrator, told the board ReAgent Chemical Services is a United Kingdom-based chemical manufacturer planning a North American facility to serve clients in the Southeastern United States. Fiore said the company anticipates a capital investment of $5,635,000 and creation of 30 full-time jobs with an average annual wage of $59,217. She said the county estimates roughly $231,032 in new tax revenue over 10 years from the project.

Fiore said the proposed incentive would be paid after the county verifies the company has established the facility, hired employees and paid taxes. "Each annual payment to the company would not exceed 50% of net new taxes to the county," Fiore said during the presentation, and she added that payments would likely not start until the 2028 fiscal year. She also said the company is seeking a North Carolina Department of Commerce building reuse grant and that Forsyth County could serve as the local applicant and grant administrator if needed.

Ellis Kiefer of Greater Winston-Salem Inc. spoke in favor during the public hearing, saying the region nd the county ttract ReAgent because of "our skilled manufacturing workforce and the community's overall connectivity," and noted the company—xpressed interest in customized training grants and partnerships with Forsyth Tech. No speakers registered opposition; the public hearing was closed and Vice Chair Wisenhunt moved approval. Commissioner Wilson seconded the motion, and the board voted unanimously in favor.

The county esk memo and Fiore—xplained that the proposed incentive was reviewed under Forsyth County's business assistance guidelines and would be paid only after the company demonstrates net-new tax payments and sustained job and wage requirements. The county also noted the company would provide annual job growth information to ensure wage and benefits commitments were met.

The action approved by the board on Sept. 11 was limited to authorizing the incentive described in the staff presentation; no other county commitments or expenditures were made at the meeting.

Ending: The board recorded the approval as unanimous and moved on to other agenda items. If ReAgent finalizes site selection and meets the county's verification steps, payments would begin only after the county confirms the facility is operating and taxes are paid.