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Henderson County approves incentives for Project Crown after public hearing
Summary
The Board of Commissioners unanimously approved a seven-year incentives package for Project Crown, a planned investment estimated at more than $123 million in taxable property and 148 new jobs averaging $62,776; the first-year incentive would not exceed $4,073 under the terms presented.
Henderson County commissioners voted June 17 to grant economic incentives to Project Crown after a public hearing and no public comment. The agreement as presented anticipates at least $72,772,751 in taxable real property investment and $51,112,878 in business personal property, and projects creation of 148 jobs at an average annual wage of $62,776.
Vice-Chair J. Michael Edney made the motion to grant incentives on the terms stated in the public notice; the motion carried with all commissioners voting in favor. The incentive schedule presented contemplates a seven-year period with a maximum aggregate incentive of $2,917,766 tied to the investments cited; staff said the first year’s contemplated incentive, if granted, would not exceed $4,073 based on new investment and employee counts.
The Board’s action followed the required public hearing and staff presentation of the projected public benefits, tax base increase and job totals. No members of the public spoke during the hearing. The county’s recorded action does not specify additional terms or a final incentive agreement beyond the preliminary figures and the Board’s authorization to grant incentives on the terms in the agenda item.
Next steps noted by staff include finalizing incentive paperwork and any follow-up negotiated terms with Project Crown. The motion adopted by the Board authorizes staff to proceed under the parameters presented at the hearing.
