Gaston County Economic Development Projects Continue During COVID-19

Published Tuesday, March 31, 2020

Article via Gaston Gazette - Adam Orr https://www.gastongazette.com/news/20200328/coronavirus-or-no-gaston-county-economic-development-projects-continue

Despite the slowdowns and headaches wrought by the spread of coronavirus, economic development work continues in some corners of Gaston County.

The Gaston County Board of Commissioners approved a measure Tuesday that should help lure a new company to Cherryville’s Business Park.

Commissioners unanimously agreed to sell 55-acres to an as yet unnamed company for $1.375 million, or $25,000 per acre, near the existing Sunbeam Industrial Complex, a site that has operated since the 1980s.

Commissioners approved in January a plan to purchase some 90-acres in Cherryville that lies along the eastern side of N.C. 150, near Keystone Powdered Metal, Pepsi Beverage Co. and Fleetnet America as a way to bolster potential sites that could be valuable to economic development efforts.

The board agreed to pay $575,000 to the Beam Trust and M’Shel Bowen, and an additional $200,000 in due diligence costs.

 

“Now we already have a project that wants to locate there,” Hicks said.

Dubbed Project Eli, Hicks said the company had previously attempted to purchase private property in Mount Holly before that deal fell through. The company, a non-manufacturing firm, would pay $1.375 million for 55 acres, and ultimately build a $13.1 million facility over multiple phases.

The firm would employ some 20 people with an average salary of $78,000 per year, some 90 percent higher than the county’s average income of $41,000 per year. Hicks did not disclose the company’s timeframe, but said the deal would be contingent to finalizing the county’s purchase with both the Beam Trust and Bowen.

Reach Adam Orr at 704-869-1828 or aorr@gastongazette.com