The City of Wilmington will hold four public hearings for the proposed incentive packages at its upcoming Tuesday, Feb. 15 meeting. The county is expected to consider the incentives next week during its Monday, Feb. 21 meeting.
All four companies are also seeking incentive packages from the state of North Carolina. State statute 132-6(d) allows the city and county to redact the names of the companies under competitive circumstances. The logic of the state law is sometimes framed this way: revealing the potential incentive recipients could lead to bidding wars between local governments — at the taxpayers’ expense. Thus, the four projects are identified only as “Transit,” “Clear,” “Buckeye,” and “Speed.”
All four payment packages would be contingent on annual 'milestone' employment goals.
- City of Wilmington would offer $200,000 ($40,000/annually for five years)
- New Hanover County would offer up to $300,000 ($60,000/annually for five years)
- The company would create 300 new jobs with an average salary of $62,000
- City of Wilmington would offer $250,000 ($50,000/annually for five years)
- New Hanover County would offer up to $1.25 million ($250,000/annually for five years)
- The company would create 485 new jobs with an average salary of $131,000
- The company would invest $85 million in "real and personal property in the region"
- City of Wilmington would offer $200,000 ($40,000/annually for five years)
- New Hanover County would offer up to $300,000 ($60,000/annually for five years)
- The company would create 204 new jobs with an average salary of $113,000
- The company would invest $25 million in "real and personal property in the City [i.e. in Wilmington City limits]"
- City of Wilmington would offer $45,000 ($9,000/annually for five years)
- New Hanover County would offer up to $67,500 ($13,500/annually for five years)
- The company would create 75 new jobs with an average salary of $64,000
- The company would invest $16 million in "real and personal property in the City [i.e. in Wilmington City limits]"