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High Point council approves $300,000 incentive for Project Ticket, clears street-abandonment requests and reinstates board members
Summary
Council approved a $300,000 performance-based incentive for Project Ticket (Paragon/Electronic Data Magnetics) tied to a proposed $30 million expansion and 99 new jobs, set/approved two street abandonment items (including a 2,100-foot abandonment tied to landfill capacity), and reinstated three board members.
The High Point City Council voted to approve several agenda items after brief staff presentations and public hearings at its regular meeting.
Economic incentive for Project Ticket: Brantley Craft told council the company (Paragon, parent of an existing High Point firm) is proposing a $30,000,000 expansion in machinery and equipment, about $900,000 in building upfit, and would bring 99 new jobs with an average wage of $62,250. Craft said staff recommended a performance-based incentive of $300,000 over three years and asked that city officials be authorized to execute necessary documents. The…
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