Commissioners approve tax grant for proposed New London business
Published 3:48 pm Thursday, August 17, 2023
The Stanly County Board of Commissioners approved an tax incentive grant for a business considering a New London site.
By a unanimous vote Thursday, the commissioners approved a 10-year, 75% economic development agreement which would bring 263 jobs to the county over the next five years.
According to a notice published in The Stanly News & Press, the agreement is between Stanly “and a home building components manufacturer considering establishing a manufacturing operation in Stanly.”
Entitled “Project Frame,” the project would bring an average salary of $59,388, with health care benefits, according to Stanly Economic Development Director Candice Lowder.
Lowder said the county’s average salary is $41,612, an increase of more than $3,000 since 2021.