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Catawba County approves incentives for Kooima Company, commits $2,500 grant match with Conover
Summary
The Catawba County Board of Commissioners approved a performance-based economic development agreement with Kooima Company (Project Kettlecorn) that ties up to $301,506 in property tax grants to a $22.5 million minimum investment and creation of at least 21 jobs by Dec. 31, 2027; the county will split a $2,500 Building Reuse Grant match with the City of Conover.
The Catawba County Board of Commissioners on Feb. 16 approved an economic development agreement with Kooima Company LLC, a precision metal fabricator associated with State Steel, authorizing a performance-based property tax grant schedule and committing to split the 5% match ($2,500) for a $100,000 NC Building Reuse Program grant with the City of Conover. Economic Development Vice President Nathan Huret presented Project Kettlecorn and described the company’s purchase of the Everything Attachments #2 building in Conover and planned investments to add fabrication and machining capacity in the region.
Under Resolution No. 2026-3, the county will provide annual incentive payments over five grant years tied to new ad valorem tax value created by Capital Improvements. The agreement requires the company to make a minimum capital investment of $22,500,000 by Dec. 31, 2027, create at least 21 new jobs by that date, and maintain at least 90% of those jobs during a subsequent maintenance period. The grant schedule is tiered (75%, 75%, 67%, 67%, 50% of qualifying incremental taxes) with a cumulative maximum payment of $301,506.
Board members did not receive public comment during the hearing. Vice-Chair Austin Allran moved to approve the agreement and the grant-match commitment; the motion carried unanimously. The agreement includes standard performance-based clawbacks, reporting requirements (annual certification and tax documentation), E-Verify compliance clauses, and remedies for default including repayment of paid incentives if commitments are not met. The agreement’s formal text and exhibits further define the baseline assessed value for the parcel, grant-year maximums, and a certification schedule for annual filings.
The county and the company state projected capital investment could reach $34 million within five years and initial three-year investment of $22.5 million; the company anticipates 21 full-time positions by the end of 2027 with average wages reported in materials at about $66,500. The Board authorized the Chair to execute the agreement and any associated documents. No votes against the motion were recorded.
