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Council approves updated MPEDC–MPX Group agreement promising $1 million reimbursement for a proposed manufacturing facility
Summary
The council unanimously approved an updated development agreement between the Mount Pleasant Economic Development Corporation and MPX Group LLC that includes up to $1,000,000 in reimbursements for qualified expenditures tied to a minimum $20,000,000 investment, at least 100,000 square feet of operations, creation/retention of 95 FTE jobs at a minimum $18/hour, and annexation by Jan. 1, 2027.
The Mount Pleasant City Council voted unanimously Dec. 17 to approve an updated development agreement between the Mount Pleasant Economic Development Corporation (MPEDC) and MPX Group LLC, authorizing EDC performance reimbursements and establishing performance metrics for a proposed manufacturing facility on land adjacent to the city that is proposed for annexation.
EDC director Nathan Taboya summarized the agreement and said the board approved a performance reimbursement of up to $1,000,000 for qualified expenditures, defined in the agreement as real estate, infrastructure, construction and equipment for the project. The company must meet a minimum $20,000,000 investment, provide at least 100,000 square feet of operational space, and create or retain a minimum of 95 full‑time equivalent jobs with a minimum wage of $18 per hour. The EDC’s performance monitoring term will be four years, and annexation of the project area by Jan. 1, 2027 is a term in the agreement.
Council members asked for clarification about how reimbursements would be requested and tracked. Taboya said reimbursements were anticipated to be made in no less than $200,000 increments, that the developer would submit receipts, and that staff could report requests to council via email or in monthly reports. The council approved a motion to accept the updated agreement and authorized execution per the terms presented.
The agreement in the meeting packet was described as the second (updated) version; staff said it had been approved twice by the EDC board and reviewed by the city attorney. The council’s vote was unanimous. The packet presented thresholds and broad categories of qualified expenditures but did not specify detailed line‑item uses for the reimbursement funds; Taboya said staff and the developer’s engineering groups are coordinating infrastructure planning now.
