First Posted: 12/21/2009
DOBSON County officials joined their counterparts in Mount Airy Monday night in finalizing an incentives package for a company both local governments are trying to keep in Surry.
The county board of commissioners gave unanimous approval to incentives totaling $283,200, after no opposition was voiced during a public hearing on the move.
Those incentives are for an existing company in Mount Airy, at this point officially known only by the code name of Project Dough.
However, sources have disclosed that it is a bakery manufacturer wishing to expand in Piedmont Triad West Corporate Park, thus matching the profile of Harvest Time Bread Co. located on Mountain View Lane there.
The Mount Airy Board of Commissioners approved a $292,256 incentives package of its own on Dec. 3.
With their respective incentives, city and county officials are hoping to persuade the Mount Airy company to remain here and not launch its expansion elsewhere. It has options in other counties, Todd Tucker, president of the Surry Economic Development Partnership, said at Monday nights hearing when he urged the county commissioners to approve their portion of the incentives.
Included is a donation of land not to exceed $221,855 and a five-year incentive grant of up to $61,345.
In exchange, the manufacturer would invest $4.5 million through its expansion. It is looking to create the equivalent of 38 full-time jobs by December 2015, while retaining 86 existing positions.
The county incentives would be paid only after the firm provides evidence that investment and employment benchmarks have been achieved as required. The company also would be required to pay its assessed property taxes in a timely manner.
Three other recent incentives deals by the city and county have produced positive results. These have included a decision by Central States Manufacturing Inc. to build a new plant in Piedmont Triad West Corporate Park. Meanwhile, Catalina Tempering and Granite Tactical announced plans to launch operations in existing buildings in Mount Airy.
Hopefully, this will bring about another good announcement in the first quarter of next year, Tucker said of the countys action Monday night for Project Dough.
Both the city and county receive property taxes from industries in Mount Airy.
Contact Tom Joyce at [email protected] or at 719-1924.