Gaston County appears to be in contention for a major existing-industry expansion that could create 300 jobs.
What's next: The Gaston County Board of Commissioners is scheduled tonight to consider incentives for Project Upcycle. County documents show the project calls for a $74 million investment, which would be made to expand the unnamed company's existing manufacturing and distribution operations.
The new jobs would be created over a five-year period and include an average annual salary of $53,674. The project would add to Gaston County's growing industrial base if it moves forward.
The investment in Project Upcycle would cover new machinery, equipment and property for the company's operations, documents state.
The identity of the company or exact location of the project is unclear.
Board documents only state that the project would expand current operations in the county.
The county is considering a level four incentives grant for the project. Commissioners will also consider authorization for the county to execute an economic development agreement for Project Upcycle.
"It is anticipated that the Company’s capital investment in and at the Property and its operations thereat will generate significant ad valorem tax, sales tax and other revenues to the County and will qualify for a Level Four Grant," county documents state.
Gaston County is among the hottest industrial submarkets in the Charlotte region. The area has seen success in both distribution and manufacturing space during the industrial boom of recent years.
Project Upcycle is not the only existing-industry expansion being pursued in Gaston County. Last month, county commissioners approved incentives for Project Miami, which called for the creation of 190 jobs for a company's expansion.