Rowan commissioners approve $27 million incentive for large economic development project
Project was discussed during Tuesday meeting of Rowan County commissioners
ROWAN COUNTY, N.C. (WBTV) - Commissioners in Rowan County have approved a multimillion dollar incentive grant for what would be the largest economic development project in Rowan County history.
Commissioners approved the $27 million tax incentive grant on Tuesday night.
Codenamed “Project Rabbit,” it is said to be a distribution center for an unnamed company. The project could create 2,500 full-time jobs within the next seven years and represent an investment of more than $580 million. An additional 2600 part-time and seasonal jobs would also be created.
The Rowan EDC is requesting that commissioners approve a 15-year incentive grant. During that time the county would return 80% of the taxes paid by the company. The total value of the proposed incentive grant is $27 million.
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