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High Point council approves incentives for CNC Industries and Triad Expediters, citing jobs and building reuse
Summary
On July 15, the High Point City Council authorized performance-based incentives for CNC Industries and Triad Expediters to encourage two manufacturers to locate or expand in the city, projects that officials said will create roughly 174 jobs and reuse vacant buildings.
High Point’s City Council on July 15 approved performance-based incentive packages to attract two companies that city officials said will bring new jobs and investment to affected neighborhoods.
The council authorized $100,000 in local incentives to support CNC Industries’ proposed purchase and renovation of a 105,000-square-foot facility at 2103 Brentwood Street and approved a resolution backing a $150,000 building-reuse grant application tied to the project. Economic Development Director Peter Bishop told council CNC would invest in machinery and equipment, create 108 direct jobs with an average compensation near $42,000 and meet performance benchmarks in an agreement to…
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