The Transylvania County Board of Commissioners will hold a public hearing at their regular meeting on Monday, Dec. 14, to discuss a multi-million-dollar boost to the local economy.
The Board will consider and receive public input on proposed incentive grants to a research and development company known as Project Whooping Crane.
Project Whooping Crane is a company that is contemplating investments in the County in real estate and machinery/equipment.
Under the project as proposed, the public benefits to be derived from the capital project include a total taxable investment by Project Whooping Crane in increments through 2025 of at least $15,800,000 in real and business property. The project as proposed would result in the creation of 74 new jobs through 2025, at an average wage of $76,514, which exceeds the Transylvania County average wage of $34,018 for full-time employment, plus other benefits. The contemplated incentives would last for a period not to exceed (6) years. Based on the new investment, the number of new employees, and the Board’s incentive guidelines the maximum amount of incentives to be considered in this grant over the total period is expected to be valued at $463,548.56.
In addition to holding the public hearing, at this meeting the Board may approve the making of the grants, or as amended, and may approve and enter into, or authorize the County to enter into, one or more economic development agreements with respect to the project.
If approved the grants would be funded through the County’s general funds.
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