Town of Valdese
Town of Valdese
FOR THE PAPERValdese leaders will discuss tax incentives related to Project Arlington, Burke County’s latest push for economic growth, at Monday’s meeting.
The details of Project Arlington have been kept under wraps, but county officials and Burke Development, Inc. (BDI) President and CEO Brandon Ruppe stated it would bring 64 new jobs and a $7 million net investment over the course of four years.
Information from BDI also said the average wage will be $58,984 per year, which is more than the county’s median of $49,020.
The crux of Project Arlington is that an unidentified company aims to build a new manufacturing facility either at an unspecified former textile mill in Valdese or in a county in Virginia. Burke commissioners have already passed tax incentives to entice the company.
Now, Valdese officials will discuss similar tax incentives.
The town will reimburse the unnamed company up to 50% of ad valorem tax revenues generated by expenses related to the company’s operations.
“The town estimates that after completion of the renovation and upfit (of the old textile factory), the total cash grant will be approximately $45,650 over four years,” according to town documents. “Funding from the annual cash grants would be annually appropriated from the town’s operating budget.”
The grant amount may vary based on actual tax revenues.
Commissioners approved a similar 50% reimbursement of the company’s taxes over a four-year period at the county’s Aug. 6 meeting. The company would receive approximately $61,050 from the county, though this amount also varies. As tax rates shift in the future, so would the actual reimbursement.
These tax incentives are designed to make Burke County a more attractive location for the company.
The public will have an opportunity to speak on the topic at Valdese’s meeting on Monday during the hearing.
The meeting will be held at Town Hall on 102 Massel Ave. SW starting at 6 p.m.
Valdese officials will also discuss and potentially approve a contract with Asphalt Road & Driveways, LLC to repair streets and other infrastructure for $298,591.
The proposed work covers six street segments and adjustments of water valve boxes and manhole risers as needed.
Streets slated for repair are Harris Avenue Northwest, Griffin Avenue Northwest, Nellie Street Northwest, Bounous Street Northwest, Morganton Street Northwest, and Lincoln Avenue Northwest.
The council will also discuss and vote on:
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