Town of Selma issued the following announcement on June 6.
The Johnston County Board of Commissioners has scheduled a special meeting to be held on Monday, June 6, 2022 at 2:00 p.m. The meeting will be held at the Selma Town Civic Center located at 300 North Webb Street, Selma, North Carolina.
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The purpose of the special meeting is to hold a public hearing to receive public comment on a proposed economic development incentive grant. A company proposes to develop, build and equip a new agribusiness manufacturing facility in the Town of Selma. The company has proposed the development in Johnston County in exchange for certain economic incentives in the form of annual cash grants paid from general County funds over a seven-year period beginning after any specified requirements for investments and job creation have been satisfied.
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The County believes this project will help stimulate the local economy, result in new taxable capital investments in real and personal property, and the creation by the company of a substantial number of new, permanent jobs in the County. The Board of Commissioners will solicit public comment on the proposed incentives at the public hearing.
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The Board of Commissioners will consider approval of incentives to the company in exchange for the company’s commitments to (1) plan, develop and build the facilities; (2) create new, permanent full-time jobs; and (3) invest in taxable business personal property additions, all of which will return property tax revenues substantially in excess of the County’s investment. The cash grants are contingent upon, among other things, the company’s entry into a local economic development agreement with the County containing the obligations and agreements of the company and the County.
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The company must achieve its capital investment and job creation goals plus be current on all Johnston County tax obligations to receive the proposed grant funding, which is subject to adjustment for partial performance.
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All interested persons are invited to attend and present their views during this public hearing. Citizens that would like to address the Board regarding this hearing but have concerns with physically attending the meeting, may email those comments to Clerk to the Board Paula Woodard at paula.woodard@johnstonnc.com. The meeting will also be livestreamed on our YouTube channel at:
https://www.youtube.com/jocogovnc.
Original source can be found here.
Source: Town of Selma
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