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Board approves incentive for Project BSM; county emphasizes state concurrence and performance checks
Summary
Montgomery County approved a resolution authorizing an economic development incentive for Project BSM, a proposed modular construction startup planning a $6.3 million investment and 133 jobs; incentive payments are estimated at $123,780.63 over five years and subject to annual verification and state approval.
The Montgomery County Board of Commissioners voted to approve a resolution authorizing an economic development incentive for "Project BSM," a proposed modular-construction manufacturing operation seeking to reuse an industrial building in Mount Gilead.
Savannah presented the proposal and said the company proposes an initial capital investment of approximately $6.3 million and plans to create at least 133 full-time jobs at an average annual wage around $62,200. Based on projected property-tax revenue, Savannah said the countyestimated the incentive payment at approximately $123,780.63 over a five-year period; actual payments would be contingent on annual verification of investment, job creation, taxable value and compliance with the countyincentive policy.
Commissioners discussed the state approval timeline; Savannah said the county still needs the company to accept state incentives and that confidential terms would be publicly announced when state and company approvals are complete. "We are in competition with South Carolina," she said, noting the county is the chosen site in North Carolina but still requires state concurrence for full incentive release.
The board moved and approved the resolution authorizing the incentive under North Carolina General Statute Section 158-7.1. The motion passed by voice vote. The resolution and the incentive will be implemented only after the county verifies job creation and tax payments per the incentive policy.
The board opened the floor for public comment during the hearing; no substantive objections were recorded in the transcript. Staff said the county will verify compliance annually before making incentive payments.
