News

Manufacturer gets incentives for $20 million expansion to retain $90K/year jobs

By Lightning Reports, Published: June 24, 2024

A manufacturing company currently operating in Henderson County will receive $135,000 in economic development incentives in exchange for a $20 million expansion and the retention of 17 jobs paying an average wage of $92,463 a year plus benefits.

County commissioners voted unanimously on Wednesday morning to authorize the incentives, which would refund property taxes from 2025 through 2030. The company currently employs more than 232 people at its plant here.

“Incentives are where the manufacturer will pay their property taxes on that new equipment and if they meet certain requirements and check all the boxes on the conditions of the incentive package part of that money is given back to them for a period of time," county commission Chair Rebecca McCall said. "And after that that (property tax) money comes into the county so it’s a win-win for everybody.”

The company, code named Project Fresh Air, has asked to remain anonymous at this time due to competitive pressures, Henderson County's legal office said in a public notice scheduled to run in the July 3 issue of the Lightning.

The incentives would total $25,860 in the first year and $135,457 over five years. The numbers are based on the new investment, the number of retained employees and the county's incentives guidelines for job retention projects.