Forsyth County staff outline proposed incentive for "Project Touchdown," a chemical manufacturer considering a local site

Forsyth County economic development staff briefed commissioners on Sept. 8 about a proposed incentive package to attract a chemical manufacturing firm identified in county materials as Project Touchdown. County staff said final company identification would be revealed at a public hearing on Sept. 11.

Helena Fiore of the county's Community Economic Development Department said the company is considering several Southeastern locations and anticipates a capital investment of $5,635,000 to establish a North American facility in Forsyth County. Staff estimated the project would create 30 full-time jobs with an average annual wage of $59,000 and would generate an estimated $231,000 in net new taxes to the county.

Following county business assistance guidelines, staff proposed a local incentive paid over five years. The county summary described annual payments capped at 50% of net new taxes and said payments would be conditional on the company establishing the facility, hiring workers, and paying the taxes. Staff said payments would likely not start until fiscal year 2028 and that the North Carolina Department of Commerce was also considering the company for a building reuse grant; Forsyth County could serve as the local applicant and administrator if the state proposal materializes.

Fiore provided the economic estimates and the proposed payment structure and invited commissioners to raise questions ahead of the Sept. 11 public hearing when the company name would be disclosed.

Ending: Commissioners did not take a vote at the briefing; the item is set for a public hearing and formal action on Sept. 11.