Catawba County approves performance-based tax grant to support Coley, LLC expansion in Claremont

Catawba County commissioners voted Jan. 20 to approve a performance-based economic incentive for Coley, LLC, a Claremont-based furniture manufacturer expanding its local operations.

The board approved Resolution No. 2026‑01 and authorized the county to enter into an economic development agreement with Coley, LLC. The incentive is structured as a property-tax grant equal to 50% of the ad valorem taxes attributable to the company’s incremental assessed property value for five grant years, with a cumulative cap of $89,665. Payments begin based on taxes assessed Jan. 1, 2028, subject to annual certification of investment and payroll by the company.

Under the agreement the company must make at least $9 million in qualifying improvements at specified Claremont properties by Dec. 31, 2029, retain 60 existing jobs and create a minimum of 40 net new jobs by the same date. The agreement sets a minimum average wage threshold for the new positions ($61,818) and includes clawback provisions if performance commitments are not met. The board’s approval followed a staff presentation describing the project’s potential to support local manufacturing in the furniture and textiles growth sectors and noting matching incentives from the City of Claremont and a $100,000 One North Carolina Fund grant from the state.

What happens next: The county is authorized to execute the executed agreement and will pay incentives only after the company files the required Exhibit B certification and the County verifies qualifying investments and tax payments for each grant year. The agreement contains cure periods and remedies for both parties if obligations are not met.