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Newton City Council approves development deal to bring Crate & Barrel distribution center
Summary
Council approved a development agreement with Euromarket Designs, Inc., d/b/a Crate & Barrel for a 736,000-square-foot facility on about 69 acres, projecting 150 jobs and a minimum $38.5 million investment; incentives include performance-based payments with clawbacks.
Julie Pruett, business recruitment director with the Catawba County Economic Development Corporation, told the Newton City Council on Sept. 15 that Euromarket Designs, Inc., d/b/a Crate & Barrel plans to invest at least $38.5 million to build a 736,000-square-foot facility on roughly 69 acres in the Newton Corporate Center and create 150 jobs paying at or above the county average wage.
The development agreement presented to council includes performance-based incentives with clawback provisions if the company fails to meet contractual thresholds. City Manager Todd Clark said the city worked with Catawba County and a private site developer to negotiate the terms and that the county is expected to consider similar incentives at its Sept. 21 meeting.
Council closed the public hearing on the proposal and approved the Development Agreement. The approval followed a motion by Council Member Jody Dixon, seconded by Mayor Pro Tem John Stiver. Mayor Eddie Haupt and all council members voted in favor. The agreement requires the company to meet the job-creation and investment milestones by Dec. 31, 2022, per the negotiated terms presented to council.
The project, as described by Pruett, is billed as an inducement to encourage a major distribution investment in Newton, with local and county incentives tied to performance. Council did not specify the dollar value or structure of each incentive payment during the meeting; the presentation emphasized that clawbacks apply if performance targets are not met.
Council approved the development agreement during the same meeting that reviewed other consent and public hearing items; no public speakers opposed the project at the hearing.
The council did not set additional local approvals in this meeting; next steps include coordination with Catawba County where like incentives were scheduled for Sept. 21 consideration.
