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Newton council backs Wanzl North America expansion with tax‑grant incentive
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Summary
Newton City Council unanimously approved an economic development agreement to support a Wanzl North America expansion that the county estimates will involve at least $15 million in investment and creation of 10 new jobs, backed by a three‑year, 50% property tax grant recommendation from the county EDC.
The Newton City Council voted unanimously on Nov. 14 to approve an economic development agreement supporting an expansion at Wanzl North America’s Newton facility.
Nathan Huret, economic development director with the Catawba County Economic Development Corporation, told the council the proposed project would require a capital outlay of at least $15 million and would add a new product line and facility upgrades, including a modernized cafeteria and employee lounge. He said the expansion is expected to create 10 new positions with an average annual wage at or exceeding the county’s average of $52,172.
“The project demands a capital outlay of at least $15M, predominantly on personal property assets,” Huret said, and county and state incentives are being considered to secure the investment in Newton rather than a competing site.
As described to council, the EDC recommended a 50% property tax grant for three years — with estimated incentive payments of about $25,875 in year one and $36,000 in years two and three, totaling roughly $97,875 — contingent on an investment of $15 million and creation of at least 10 new jobs by the end of 2025. Council members said the city’s participation would help the county make the Newton site competitive.
Mayor Eddie Haupt and council members voted to close the public hearing and approve the agreement. City documents related to the agreement are on file with the city clerk.