Suburban Charlotte county OKs incentives to help land historic $200M investment
AI-generated summary reviewed by our newsroom.
- Union County approved a $200M grant for a proposed manufacturing facility.
- The company must invest $200M and create 25 full-time jobs to receive funding.
- Estimated $6M in taxes expected from the company over seven years, starting 2028.
The Union County Board of Commissioners unanimously approved an economic development incentive grant for the construction a $200 million manufacturing plant on Monday.
If the unnamed company accepts the package, it would represent the largest single private sector manufacturing investment in Union County’s history.
Union County Economic Development anticipates a final decision from the company this fall. The county said it would disclose the company’s name after it secures potential economic development grants from the state.
The incentives decision, made during a commissioners meeting on Monday, includes the following provisions:
▪ A grant award not to exceed $4.86 million, disbursed over a seven-year period starting in fiscal year 2028. The annual grant amount will be based on the property value as appraised by the Union County’s tax office, and will be offset by the company’s projected $200 million investment in new construction and related processing equipment during the grant period.
▪ The company is projected to pay an estimated $6 million in property taxes on the new taxable investment over the seven-year grant period. This projection is based on the anticipated investment in Union County, the current tax rate, and an assumed consistent assessed value with no depreciation.
▪ At least 25 new full-time jobs are required for the grant.
Union County is a sought-after location for companies because of its workforce, low taxes and quality of life, according Brian Helms, vice chair of the Board of Commissioners.
Helms said the grant agreement will provide employment opportunities for residents and an investment that fits with the county’s economic goals.
This story was originally published July 15, 2025 at 2:19 PM.
