Reidsville approves $334,000 incentive for Project Independence, citing $27 million investment and 52 jobs

The Reidsville City Council voted to authorize incentives totaling $334,000 over five years for Title 8 Global, also identified in the packet as Project Independence, after a public hearing and presentation by the city’s economic development staff.

Brown, the city’s marketing and economic development director, told council the company “plans to bring $27,000,000 of capital investment and create 52 jobs with an average annual wage of $50,278 by the end of the year 2028.” Brown said the city’s $334,000 would be paid post-performance and was calculated as roughly 50% of the net new ad valorem property taxes the project is expected to generate over five years. He also said Rockingham County previously authorized incentives up to $294,000 and the project received a $500,000 building reuse grant from the North Carolina Department of Commerce and the Rural Infrastructure Authority.

Council members raised questions about the increase in the proposed city contribution since the project was first discussed; one councilor noted the incentive figure had risen from an earlier estimate of $200,000 to the $334,000 now on the table. After closing the public hearing, a council member moved to approve the incentive agreement as presented and the motion was seconded and approved by voice vote.

The council did not provide a roll-call tally in the meeting record; the item was passed following the public hearing and the staff presentation. City staff said incentive payments will be made only after the project meets the performance milestones specified in the agreement. The council packet contains the draft incentive agreement and performance terms for post-performance payments.