City, county approve incentives for Project BART
City Council approved an economic incentives package for a company that may bring 50 jobs to Thomasville.
Council Tuesday night unanimously approved an economic incentive grant for Project BART that potentially could equal $350,000. Project BART is an unnamed company based in Thomasville that has plans to expand its operations.
Steve Googe, executive director of the Davidson County Economic Development Commission, told council the company plans to invest $25 million and create 50 new jobs with a wage above the county average over the first three years of the project.
“The Davidson County EDC has been working with Project BART for some time,” Googe said during a public hearing at the Jan. 21 meeting. “Thomasville is one of the choices they are looking at for an expansion.”
Council approved an incentives package for .0028 times the company's investment in plant, equipment and machinery each year for five years.
“I would submit to you that the project would stimulate the economy, increase the city tax base and thus increase tax revenue,” said Googe. “The project would provide jobs to the citizens of Thomasville and Davidson County.”
Googe did not reveal Project BART's name but did say the company “has multiple locations across North Carolina.”
Davidson County Commissioner's earlier this month approved a similar incentives package for Project BART. Commissioners approved a package for .0027 times the investment in new plant, machinery and equipment over five years that could total $337,500.
Thomasville resident Barney Hill approved of the incentives grant during the public hearing.
“Neither this council nor any of its predecessors ever has, and I hope that none ever will, do what the county commissioners sometimes do, which is to hand one of these companies money taken from other taxpayers,” Hill said. “What is on the table is your usual arrangement that lets the company subsidize itself.”
Both packages are tied to the company's ability to meet its investment and create jobs. Project BART is the third company to receive an incentives package from council in the past year. Mill-Chem and SV Plastics received incentive grants from the city in 2012. Both companies plan to invest money and create jobs in the Chair City.
Staff Writer Eliot Duke can be reached at 888-3578, or email@example.com.