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Wayne County approves $5.5 million incentive for Project "Bull," tied to $140 million investment and 330 jobs
Summary
The Board of Commissioners approved a performance-based incentive package of $5.5 million over 10 years for a company referred to in county materials as Project Bull (Waukesha), conditioned on $140 million in capital investment and the creation of 330 jobs in Wayne County.
The Wayne County Board of Commissioners on May 20 approved an economic development agreement commonly referenced in county materials as Project Bull that provides a $5,500,000 incentive grant payable over 10 years in exchange for the company's commitment to invest $140,000,000 in capital improvements and create 330 jobs in the county.
The county opened a public hearing and heard a presentation from county economic development staff before taking the vote. Mark (county economic development staff) told commissioners the project represents “the largest economic development announcement in Wayne County's history” and said the company reports an average wage for the new jobs of more than $71,000, well above the county average. Julie Graham, who worked the project for the county, said the company had considered locations outside North Carolina and that state and federal resources helped secure the project for the county.
Commissioners described the award as performance-based and said payments will be made only after the county verifies the company’s reported investment and job creation. County staff said the $5.5 million is roughly 60% of the county tax revenues expected to be generated by the project over the first 10 years and that the board will review performance annually.
The motion to approve the economic incentive agreement carried following the public hearing and discussion. County staff said construction hiring and performance benchmarks would begin in 2026, subject to the company's contractor schedule and verification of payroll and investment records.
The board also discussed state support for the project. Commissioners noted that North Carolina state incentives, including a $6.9 million state package that staff said helped “put us over the top,” were part of the overall financing that made the project viable.
The board declared the public hearing closed before voting to approve the agreement.
