Belmont council approves amended incentive for anonymous 'Project Family' after questions on wages and NDA

Belmont, N.C. — The Belmont City Council voted April 6 to approve an amended Level 1 incentive resolution for an unnamed company the staff identified as “Project Family,” after council members pressed staff on expected wages and whether the company would allow its identity to be public.

Miles, the city staff contact on the item, told council members the Economic Development Commission had provided a packet showing the projected salaries for 31 new jobs and said the company intends to keep its name confidential under a nondisclosure agreement for competitive reasons. “They intend to keep the company's name confidential and will not disclose it during the public hearing, for this meeting,” Miles said.

Why it matters: council members said wages and the local economic benefit were critical to deciding whether to support the incentive. The packet showed the proposed new-employee average annual compensation at $59,523, above the Belmont city average annual wage of $53,651; most proposed positions exceed the local average, with one lower-paid sanitation role noted. Staff also reported that Gaston County had provided an incentive previously to this employer but the city had not.

At the meeting, Donnie Hicks of Gaston County's economic-development team answered council questions about the NDA practice and timing. “It depends sometimes on the sophistication and size of the company,” Hicks said, explaining that some firms require NDAs early to protect competitive and hiring strategies. He said the county and city can work to clarify when staff should be brought into recruitment conversations.

Council members also discussed the fiscal assumptions used in incentive calculations — for example, whether estimated property-value increases or employment assumptions should be discounted in early-year estimates — and asked staff to clarify valuation timing in future analyses.

Outcome and next steps: Council approved the amended resolution on a voice vote after a motion and second were recorded. The resolution authorizes a Level 1 incentive under the terms in the amended packet; the company’s name remains confidential per the packet and the NDA practice described by county staff. Staff said the item will proceed under the terms of the amended resolution and that any future formal contract documents will come back to council if required.

No employment contracts or binding tax-abatement documents were executed at the meeting; the action approved council’s participation in the amended incentive as described in the packet.