Media Contact:
Liz Cooper
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MONROE, N.C. (July 15, 2025) – At their regular meeting on Monday, July 14, the Union County Board of Commissioners voted to approve an economic development incentive grant for the construction of a $200 million advanced manufacturing facility in unincorporated Union County. If the company accepts the grant, the agreement would represent the largest single private sector manufacturing investment in Union County's history. The name of the company would be announced upon the award of potential economic development grants from the State of North Carolina.  

"Union County is a sought-after location for advanced manufacturing, thanks to our highly skilled workforce, low taxes and desirable quality of life," said Brian Helms, Vice Chair of the Board of Commissioners. "We are pleased to offer this historic grant agreement that includes both excellent employment opportunities for local residents and the type of private investment that aligns with our economic development goals." 

The Board unanimously approved the grant offer based on the following terms: 

• A grant award not-to-exceed $4,860,000 paid over a seven-year period beginning in FY 2028. The value of the incentive grant will be based upon the property value each year as appraised by the Union County Tax Administration Office. The value of the grant would be offset by the company’s projected $200 million investment in new construction and the installation of related processing equipment over the grant period. 
• Based on its projected investment in Union County, the current tax rate, and assuming a consistent assessed value with no depreciation, the company will pay an estimated $6 million in ad valorem taxes on the new taxable investment over the seven-year grant period. Actual tax revenue for the County will be based on the assessed value of the investment each year by the Union County Tax Administration Office and will vary each year depending upon the North Carolina Department of Revenue depreciation schedule and the timing of the investments.
• The grant is also contingent upon the company creating at least 25 new full-time jobs.

"Our team is particularly pleased to bring this historic grant agreement to the Board of Commissioners for their approval," said Ron Mahle, Director of Economic Development. "We are confident that Union County's talented workforce, competitive tax rates, robust utilities, and high quality of life will make our community a compelling candidate for this potential investment agreement." 

Union County Economic Development looks forward to the company's final location decision in the fall of 2025. 

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