County asking for public input on incentive package for National - WECT TV6-WECT.com:News, weather & sports Wilmington, NC

County asking for public input on incentive package for National Gypsum Company

National Gypsum Company, which produces a key ingredient in drywall, closed its plant on Sunnyvale Drive in 2009 as the housing market plummeted. (Source: WECT) National Gypsum Company, which produces a key ingredient in drywall, closed its plant on Sunnyvale Drive in 2009 as the housing market plummeted. (Source: WECT)
NEW HANOVER COUNTY, NC (WECT) -

New Hanover County plans to hold a public hearing for a proposed incentive package for National Gypsum Company Monday. 

The county and the City of Wilmington are considering spending more than a half million dollars in total to tempt the Charlotte-based company to reopen its Wilmington plant it closed nearly 10 years ago. 

The incentive package from the county would offer the company five annual payments of $70,000 provided it hires 51 people with an average salary of at least $57,000 and spends a minimum capital investment of $25 million.

"No one is throwing money at them," said Rob Zapple, a New Hanover County Commissioner. "They have to perform first before we then meet the annual payments of in this case of $70,000 over a five-year period that we would be responsible for as a part of this package."

The source of funding for the package will come from the county’s General Fund.

Zapple added he believes the money is an investment in the county. 

"We are talking about adding 51 new jobs here to our community with an average pay of 57 thousand dollars a year," he said. "That is several thousands of dollars above the average pay in New Hanover County, and that is before benefits. These are good jobs."

The hearing starts at 9 a.m. at the New Hanover County Historic Courthouse, 24 N. Third St., Room 301.

National Gypsum Company, which produces a key ingredient in drywall, closed its plant on Sunnyvale Drive in 2009 as the housing market plummeted.

At the same time, the city of Wilmington will consider $230,000 worth of payments, giving the company a grant of $46,000 annually for five years. A public hearing is being scheduled for Feb. 20 at 6:30 p.m. in council chambers. 

Copyright 2018 WECT. All rights reserved.

Powered by Frankly