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Reidsville hears public hearing on $334,000 incentive request for Project Independence
Summary
At a public hearing July 14, the council heard a request from economic development staff to authorize $334,000 in city incentives to support Project Independence (Global Incorporated), a mattress manufacturer promising $27 million in investment and 52 jobs by 2028. Council asked for clarification on the increase from an earlier figure before moving to vote; tally not recorded in the transcript.
The Reidsville City Council held a public hearing July 14 on an incentive agreement to support Project Independence, a planned expansion by Global Incorporated that city staff said would bring $27,000,000 in capital investment and 52 jobs with an average annual wage of $50,278 by 2028.
Montana Brown, marketing and economic development director, told the council the city’s proposed incentive would be $334,000 and that the city and county incentives together would represent 50% of the project’s net new ad valorem taxes paid over five years. “All incentive payments will be made post performance and in accordance with the incentive agreement,” Brown said.
Council members asked why the city’s ask had increased from an earlier $200,000 figure. Brown explained the calculation: the proposed local incentive equals 50% of the net new property taxes the company would pay over five years and that the county separately authorized up to $294,000. Brown repeated that payments would be tied to performance and the agreement in the council packet.
A council member moved to authorize the incentive agreement as presented and the motion was seconded. The chair called for the vote by asking those in favor to raise their hands; the transcript records the motion and that the vote was called but does not record a roll‑call or final tally.
Next steps: staff indicated that, if council authorized the incentive, the city would execute an incentive agreement consistent with the packet language and the post‑performance payment schedule.
