Burke Development Inc. President and CEO Brandon Ruppe attends the Burke County Board of Commissioners meeting to discuss the details of the incentive package for a potential new manufacturer, code-name Project Ice Bear.
Burke Development Inc. President and CEO Brandon Ruppe attends the Burke County Board of Commissioners meeting to discuss the details of the incentive package for a potential new manufacturer, code-name Project Ice Bear.
"Project Ice Bear" caught traction on Monday night when the Burke County Board of Commissioners voted unanimously to approve an incentive package that would reimburse the unidentified company 40% of taxes paid over a 3-year period.
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The current expected total reimbursement will fall at $87,270.59, with the possibility of changing pursuant to fluctuations in tax rates.
The code-named project is expected to draw almost $17 million in total CAPEX investment, developing a new 60,000-square-foot facility on the land of the Hickory Airport.
According to Burke Development Inc. President and CEO Brandon Ruppe, the business is a family-owned manufacturing facility that specializes in developing precision parts.
The "high-end, highly-skilled" positions will have an average wage of $64,716, well above the current average of $49,020.
As of now, Burke County is in competition with a location in Mississippi, hence why the county considered a "but for" incentive package, meaning "but for" the involvement of the local government, the project may not be secured.
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