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Commissioners approve larger incentive for Project Jackpot as expected investment grows
Summary
The board approved an amendment raising the expected investment for Project Jackpot from roughly $8.5 million to $40 million and increasing the county incentive to $100,000 per year (60% of net new taxes) for six years (maximum $600,000); staff also received authorization to apply for an NC Commerce building reuse grant with a 5% match not to exceed $25,000.
Pitt County commissioners approved an amendment to the economic development agreement for “Project Jackpot” after staff said the company’s anticipated investment had increased markedly from about $8.5 million to $40 million.
Economic development staff said the amended agreement keeps the existing structure — a grant equal to 60% of the net…
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