Lincoln County Commissioners approve industrial incentives for over $51 million in industry investments.
Lincoln County Commissioners approved four industrial incentive grants at their Monday night (Nov. 19th) meeting that will bring nearly $51 million in industrial growth to the county and produce 76 new jobs over the next several years.
The grants will be paid as reimbursements to the industries to whom they were granted after they have paid their county taxes. The money for the grants will come from the additional taxes on added property values created by the industries as they complete expansions. The grants approved were for:
Calico Coatings in the Balsom Ridge Business Park off Highway 16-Business just north of Denver. Calico Coatings began as a supplier to NASCAR teams of coatings for parts used in race cars. The company will spend some $1.3 million to expand its operations producing at least eight new jobs.
FMS Enterprises on Kawai Road off Highway 150 west of Lincolnton. The non-woven fabrics manufacturer will spend $2.5 million on its expansion producing 20 new jobs.
Aptar, Inc. on finger Mill Road in the Lincoln County Industrial Park off Highway 321-Business north of Lincolnton. Aptar, a market leader in dispensers for the packaging industry, will invest $36 million to expand its operation adding 40 new jobs.
Cataler North America, also in the Industrial Park off US321-Business north of Lincolnton. Cataler manufactures automotive catalysts among other products. They will spend almost $11.4 million to expand their operation resulting in eight new jobs.
LEDA Executive Director Cliff Brumfield noted that when added to earlier industrial incentive grants approved by Commissioners, this brings the total of new industrial development for the county announced this year to over $83 million and the expansions will add over 100 new jobs to the local economy.