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Council approves two economic development incentive agreements for Project Wine and Project Exchange
Summary
The Gastonia City Council unanimously approved incentive agreements for Project Wine (a metal valves/fittings employer at Apple Creek, contingent on annexation) and Project Exchange (a proposed $35 million, 305,000-sq-ft facility near I-85/321). Formal contract language and annexation requirements will be finalized before incentives are disbursed.
The Gastonia City Council on Dec. 3 voted unanimously to approve local incentive agreements for two economic-development prospects introduced in public hearings.
Economic development director Christy Crisp presented Project Wine, described as a metal valves-and-fittings operation locating at Lot 12 in the Apple Creek site. Crisp said the employer would create 19 jobs and the project is contingent on annexation into the city for water and sewer service. She noted the company would pay taxes up front and receive a local incentive reimbursement per the city's standard program.
Crisp also presented Project Exchange, a larger industrial proposal near the I-85/321 interchange featuring a proposed $35 million investment in a roughly 305,000-square-foot building. Staff said the city would be the electric, water and sewer provider for the site and that incentive level (level 2 or 3) depends on final investment and tax treatment. Representatives for the project were present to answer questions.
Council moved and seconded approval after the public hearings; both approvals were announced as unanimous. Staff said formal contracts with dates and specific terms will be returned to council and that Project Wine's incentives are conditioned on annexation and other standard program requirements.
Votes at a glance:
- Project Wine (Apple Creek / Lot 12): motion to approve made and seconded; outcome: approved (unanimous). Staff note: incentives contingent on annexation and final contract terms.
- Project Exchange (I-85/321 interchange): motion to approve made and seconded; outcome: approved (unanimous). Staff note: project subject to formal contract specifying level of incentive and final investment and tax treatment.
Crisp and staff will return with the formal contracts and any annexation petitions needed for the developments to receive local utility service and incentives.
