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Moore County approves seven‑year incentive for Reliance Packaging
Summary
The board approved a seven-year incentive agreement with Reliance Packaging for an estimated $7.4 million investment and creation of 32 new jobs, authorizing a reimbursement grant capped at $95,902 over seven years with year‑one reimbursement at 90% that phases down to 30% by year seven.
Moore County commissioners unanimously approved a proposed economic development incentive agreement for Reliance Packaging, a company that operates in Aberdeen on parcel 0046225. Planning staff summarized the agreement: Reliance proposes to invest approximately $7.4 million in real and personal property and to create 32 new jobs with an average wage of about $53,000.
Under the proposed seven-year incentive, the company would receive a portion of incremental property-tax revenue as reimbursement, not to exceed $95,902 over the term. Commissioners and staff explained the structure: year one reimbursement is 90% and declines 10 percentage points each subsequent year until the reimbursement reaches 30% in year seven; the agreement includes a clawback clause if performance conditions are not met.
No members of the public spoke on the item during the hearing. The board moved and approved the proposed agreement; staff will finalize the contract and monitor the job and investment commitments.
