County Commissioners Approve Incentive Package for Project Hornet
County commissioners at their Monday, July 18, meeting also approved an incentive package for Project Hornet, or ECS Enterprises, which recently merged with International Display Systems of Mecklenburg County to form ISE Enterprises.
ECS Enterprises currently sits at 1151 Biscayne Drive in Concord, employing 35 full-time and 17 part-time workers at a wage above the county average. This facility will remain open and functioning.
The newly merged business—which manufactures classic display features used in retail—proposes to build a 30,000-square-foot facility at 840 Biscayne Drive in Kannapolis for plastic fabrication and packaging operations. The new facility would create 20 full-time jobs at an hourly wage of $17.87, which is above the county average. About 16 of those 20 positions would relocate to the area with the merger. The company would also bring three more part-time jobs.
"When it comes to economic development, a lot of times we as commissioners hear business owners in our community say, 'Well, you've got these business owners coming in from out of state and out of town,' " commissioner Lynn Shue said. "I just want to pay attention to this particular economic grant. It is for an existing business that is here in Cabarrus County, and they're wanting to expand their program, and their criteria meets the economic development incentive plan."
The total investment for the new facility would be $2.75 million, with $2.4 million in property and $350,000 in equipment and personal property. A three-year county investment at 85 percent totals about $49,000, leaving the county still with $8,600 in additional tax revenue during that time. After the three-year period, the county would collect the full tax amount.
The City of Kannapolis will hold a public hearing Monday, July 25, to consider an economic development grant of its own.
"It's mighty nice," board chair Steve Morris said. "For many years we've heard of Cabarrus County companies that are merging with other companies and moving away to Mecklenburg County, so it's nice to see them coming the other direction, and I think we're going to see more of that. We do like to take care of our existing businesses when we have the opportunity."