County OKs $1.4M incentive
Date Posted: 6/18/2008
June 18, 2008
County OKs $1.4M incentive
Clarke Morrison
ASHEVILLE
The grant, to be paid over five years, is contingent on the company investing $20.5 million in its plant on Sweeten Creek Road and adding at least 200 jobs.
Unison, formerly called Smiths Aerospace, is an international supplier of aircraft engine components.
Commissioner David Young, a member of the county Economic Development Commission, said the county would make back the investment in increased property tax revenues.
“We have a policy, and we’re trying to create jobs in the county,” he said. “It’s very fair, and it helps encourage more businesses to locate in our community.”
Young said the economic development incentives help offset land prices and a cost of living that are higher in Buncombe than in neighboring areas such as Greenville, S.C.
But Leicester resident Alan Ditmore said during a public hearing he opposes such incentives. The county could create more jobs by lowering taxes, he said.
Jon Bellows, financial controller for Unison, said the plant expansion is under way and the company already has added about 50 of the 200 jobs. The firm last year was awarded a seven-year, multimillion-dollar contract for jet engine parts. The company said its starting pay is $14-$16 per hour.
“We’ve made very significant capital investments,” Bellows said. “It’s a very exciting time for us.”
Assistant County Manager Jon Creighton said the county uses a formula to determine the size of incentives based on the amount of a company’s investment, the number of jobs created and how much those jobs pay.
“The goal is to keep jobs here in Buncombe County,” he said. “It’s a global economy. There’s a lot of competition. That’s the game we’re in.”
– Buncombe County commissioners voted Tuesday to give a $1.4 million economic development incentive to Unison Engine Components to expand its operations.
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