Board supports ‘Project Spring’ with grant incentive application
Returning from closed session Monday night, the Lee County Board of Commissioners voted to apply for a state grant that could persuade an unidentified company to locate to Lee County.
Dubbed “Project Spring” throughout the resolution, commissioners voted to submit an application to the North Carolina Department of Commerce for a Building Reuse Grant and, pending formal approval by all parties, to provide the 5 percent grant match, not to exceed $25,000.
According to the resolution, Project Spring would create $13 million in new investment of equipment and improvements and 105 jobs in Lee County.
“The Lee County Board of Commissioners, with a recommendation from the (Lee County Economic Development Corporation), has determined that the facility under consideration by Project Spring is an ideal location for a Building Reuse Grant,” according to the resolution.
This commitment is considered an incentive and “at the appropriate time” the company name will be announced, a public hearing set and a final vote will be held by the Lee County Commissioners concerning the terms of the incentive package for Project Spring.
Commissioner Kirk Smith, an outspoken critic of incentives, was the lone nay vote against the resolution. Look for more information in Wednesday’s edition of The Herald.