03/28/2024
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By Erin Smith

The Bladen County Commissioners are set to consider an incentive grant for New Generation Yarn Corporation tonight (Tuesday, Jan. 22). The incentive grant will be worth and estimated $3,000 to $4,000 per year for a duration of five years, according to Bladen County Economic Development Director Chuck Heustess.

“They only get incentives for the new investment they put in place,” said Heustess.

Bladen County Commissioners Chairman Charles Ray Peterson said, “This is a tax incentive the County does for all industries.”

Peterson added it is “great” when you can add 70 to 200 jobs in Bladen County. He explained the incentive grant is a standard procedure to assist investors.

He explained the incentives are based on new machinery and equipment installation at the facility which is known as WARP Clarkton. Heustess said this incentive grant is important for the company because they have been offered another grant in the  amount of $20,000 but it requires a match. He explained the incentive grant from the County can count towards that match and the rest of the match will consist of the cost of the training for employees provided by Bladen Community College.

The $20,000 grant is important to New Generation Yarn Corporation due to some upgrades that need to be made to the building. The upgrades were not discovered until the building was purchased, said Heustess. He said the company has to make the investment in the building to get the building to meet the current safety code.

“If they don’t make the investment, then they don’t get the incentive,” said Heustess.

The company is also projected to create 75 new jobs in Clarkton. He emphasized that if the company does not create the specified number of jobs or meet the specified wage requirements of $25,000 specified in the agreement, they will not receive the incentive grant.

“It is all performance based. They don’t get the incentive payment until after they pay their taxes each year,” said Heustess.

He said the town of Clarkton is not involved in the incentive grant. Instead the town of Clarkton will receive the normal amount of tax revenue generated by the facility each year.

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