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Public hearing held for "Project Rack" distribution investment in Wilkes Industrial Park
Summary
Wilkes County held a public hearing June 17 on a proposed Economic Investment Agreement for "Project Rack," a distribution company proposing a $1,842,000 investment in the Wilkes Industrial Park and the creation of five full-time and five part-time jobs.
Chair Shirley B. Randleman opened a public hearing at 5:00 P.M. on June 17 concerning a proposed Economic Investment Agreement for "Project Rack." Lee Ann Nixon, president of the Wilkes County Economic Development Commission, described the project as a national distribution company considering the Wilkes Industrial Park.
Nixon said the company proposes to invest $1,842,000 to build a warehouse and distribution operation and would create five full-time and five part-time jobs, which meets the county’s economic-incentive policy thresholds. She said the five-year estimated taxes on that investment would be approximately $60,786, the grant requested would be $48,629, and projected revenue during that period would be just over $12,000. Nixon said pairing a county grant with potential incentives from North Wilkesboro could allow the company to proceed.
Chair Randleman asked if anyone else wished to speak; with no public comment the chair closed the public hearing at 5:03 P.M.
No formal action on the Economic Investment Agreement was recorded in the minutes; the hearing was informational and the item will proceed through whatever subsequent review steps the county’s incentive policy requires.
