Incentive public hearings Monday
Thomasville City Council will hold public hearings on a pair of economic incentives at 7 p.m. Monday, July 15.
The public hearings originally set on June 17 had to be postponed when City Manager Kelly Craver, Mayor Joe Bennett and Councilman Joel Pierce attended the All-America City contest in Denver, Colo..
"With the monthly meeting getting pushed back, we have to reschedule," Craver said. "We have to readvertise the meetings for July."
Two of the hearings involve economic incentives that could bring more than 40 jobs to the Chair City. Project HEM is a merger of two companies planning to invest $2.3 million and create 30 jobs. The company would receive a five-year grant from the city not to exceed $6,440 annually. The payment is half of the property tax valuation increase from the company's Thomasville facility.
"They would have to produce documentation that all of the conditions of the contract are met to get the money," said Craver. "If they don't make the total investment or don't hire the number of people, contractually we will not pay it. It's completely performance-based. It's a very nominal investment for Thomasville to create jobs and get investment in our community."
Project Z is an injections molding firm with plans to invest $2.2 million and create 11 jobs with an average salary of $50,000. The city will pay an incentives grant $6,160 annually for five years. The grant is .0028 times the company’s investment.
Davidson County Commissioners have approved similar incentives packages for both projects.
"These are projects that will add to our tax base and there are jobs with each one that will be coming to the city," Councilman Raleigh York said. "We're giving our standard incentive for those. One of the main reasons I support incentives is it's really not costing the city anything. Everything is based on additional investment. We're not giving anything that we currently have at all. We're just giving future additions to our tax base."
A public hearing for Community Development Block Grant projects also will be held. Craver said the city is required to hold two public hearings annually to allow for citizen input. A public hearing also is required for every CDBG grant the city applies for throughout the year.
Staff Writer Eliot Duke can be reached at 888-3578, or email@example.com.