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County approves incentive for "Project Champion," a manufacturer expected to create 101 jobs
Summary
The board authorized a three-year tax-incentive grant for Project Champion contingent on performance targets: 101 jobs with an average wage of $51,381 and an estimated $28 million investment. The incentive is estimated at roughly $68,850 over three years and was approved unanimously.
Economic Development Director Courtney Ashley presented Project Champion, a prospective manufacturer considering a Kings Mountain site and two additional North Carolina locations, plus out-of-state options. According to the presentation, the project would create 101 jobs with an average wage of $51,381 and involve an estimated $28,000,000 in real and personal property investment over three years.
The proposed incentive is a three-year grant equivalent to 25% of the $0.405 tax rate applied to the new taxable investment, producing an estimated total incentive of approximately $68,850 contingent on the company meeting projected investment and job-creation benchmarks. The public hearing opened at 6:11 p.m.; one public speaker, Cynitra Stewart, spoke in favor. Commissioner Doug Bridges expressed support for the project’s potential to expand the county’s tax base and add jobs paying above $50,000 annually. The board voted unanimously to approve the resolution authorizing the economic development incentive for Project Champion.
