WILMINGTON, NC (WECT) – At Monday's New Hanover County Commissioners meeting, the board voted 4-1 to offer Live Oak Bank $325,000 in economic incentives.
The bank could be making a $16 million facility expansion, which would allow for it to employ an additional 120 employees over five years.
Commissioner Brian Berger voted against the move.
According to a news release, the expansion project is expected to be finished within the next two years. The Wilmington Development Corporation has been working with the firm on this expansion.
The City of Wilmington will meet Tuesday to vote on whether or not to give the bank $250,000.
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