Council delays vote on amended $8 million economic-incentive package, asks for company details

The Belmont City Council held a public hearing on an EDC-recommended amendment to the economic-development agreement for the project codenamed 'Project Family 2025,' which increases the project's total investment figure from $4.5 million to $8 million by adding a building expansion to previously described machinery purchases.

Representatives from the Gaston County Economic Development Commission (Kylie Sharp and Parish Williams) said the company remains committed to creating 30 jobs at or above the county average wage and that the approval level (Level 1 incentive) stays the same; the change is to reflect an increased total investment amount.

Council members repeatedly asked for more detail before approving the amended resolution: the company’s name (the packet used a code name), a job-by-job wage breakdown, the first incentive the company received, and a clearer calculation of net new taxable value and breakeven timing. EDC staff said some project details are held under NDAs and that the county typically does not amend resolutions for projects that stay within the same incentive level, but they offered to supply additional documentation under appropriate protections.

Given those open questions, the council voted to table the amended resolution and asked staff to return with the requested wage breakdowns, the first incentive grant history for the company, and any information the EDC can provide about the net-new valuation and timeline. The item was postponed to the April 6 regular meeting.

Councilmembers framed the request as seeking fiscal accountability for city tax incentives: several asked whether the city is effectively subsidizing routine business decisions and requested clearer criteria or an economic-development workshop to set priorities for what types of projects the city should incentivize.