Notice is hereby given, pursuant to NCGS 158-7.1, that the Granite Quarry Town Council will hold a public hearing on Thursday, September 26, 2024, at 6:00 PM at the Granite Quarry Town Hall, 143 N. Salisbury Avenue, Granite Quarry, NC in order to consider an agreement to offer certain economic development incentives to a private company, AMREP Manufacturing Company, LLC.
AMREP has proposed a new manufacturing facility to be located in Summit Corporate Center in unincorporated Rowan County, identified as Rowan County Tax Parcel 402C022 valued at approximately $21 million. Under the proposed agreement, the Town would provide a 45% property tax rebate for 5 years to support AMREP’s development of the property and other related expenses. The grant amount is based on a percentage of increased property taxes which the Town will receive resulting from the project.
The Town’s incentives are designed to encourage AMREP to relocate and expand and to annex into the Town’s jurisdiction, enhancing the Town’s tax and employment base. AMREP is expected to create up to 170 new jobs by 2028. The agreement requires the annexation of the project into the Town's corporate limits and requires repayment if AMREP fails to meet employment goals.
Residents are invited to attend and provide their comments and opinions. For more information, please contact Town Hall at 704-279-5596. The proposed agreement is available for review at Town Hall and online at granitequarrync.gov.