NHC Board of Commissioners approves $1.9 million in incentive grants

NHC commissioners approve incentives to help bring business to the region
Published: Feb. 21, 2022 at 10:27 AM EST
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WILMINGTON, N.C. (WECT) - The NHC Board of Commissioners approved four economic incentive grants totaling around $1.9 million at its meeting on Monday, Feb. 21. The funds will be distributed over a period of five years, but the agreement also requires the companies to live up to their investment and jobs benchmarks in order to receive funding.

In total, Project Clear can receive up to $1.25 million, Project Transit up to $300,000, Project Speed up to $67,500, and Project Buckeye up to $300,000. Between the four projects, 1,004 jobs will be created by their investments in the community. The average salaries listed in the agreement range from $62,000 to $131,000.

Over the next five years, the projects plan to invest over $100 million in New Hanover County. The positions range by company: from sales positions at Project Transit to warehouse and logistics positions at Project Speed. Project Speed is the only newcomer to New Hanover County. They plan to build a 120,000 square foot cross dock facility — the first of its kind in the county.

However, the projects’ search for funding doesn’t stop here. They are also looking for funding from the City of Wilmington and the state of North Carolina.

See the complete agendas and minutes for the NHC Board of Commissioners.

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