EDC to provide incentives to business considering relocation

By Rose Hooper

EDC members agreed Monday (Aug. 19) to match a $10,000 grant from AdvantageWest, an economic development organization representing 23 counties in Western North Carolina. The money will be used as relocation expenses for the company, which is expected to locate to the Tuckaseigee Mills facility on Scotts Creek Road.

"We can't announce the name of the company until the Department of Commerce signs off on all the paperwork," said EDC Chairman Tom McClure, who expects an announcement within two weeks.

The company has applied for a $125,000 grant from the Governor's Incentive Program, a grant, if approved, the EDC will also have to match.

When board member Brenda Oliver asked if the EDC had the money, McClure replied, "Today, no; tomorrow, yes.

"It's not something we have to pay up front," McClure clarified. "We can pay it over a period of time ­ 12 to 18 months."

In North Carolina, a state that lost more manufacturing jobs last year than any other state, providing incentives to new business and industry is a key concern, according to Gordon Myers, chairman of the State Economic Development Board. Nearly 6,000 jobs were lost last year in Western North Carolina alone, he said.

Earlier this year, the N.C. Senate approved legislation expanding tax breaks to attract businesses to the state. The William S. Lee Quality Jobs and Business Expansion Act provides tax credits for investment, job creation, worker training, and research and development to qualified companies. Eligible businesses locating a central administrative office in the state also benefit from credits under this act.

Preparing the local workforce for new skills demanded by the emerging job market will be addressed at a EDC's workforce development seminar Friday, Sept. 20, at Harrah's Hotel in Cherokee. Myers will be one of the speakers, in addition to futurist Ed Barlow, motivational speaker and president of Creating the Future Inc.

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