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Town of China Grove recently issued the following announcement.
NOTICE is hereby given that the China Grove Town Council will hold a public hearing in the China Grove Town Hall, located at 333 North Main Street in China Grove, on Tuesday, February 15, 2022 beginning at 6:00 p.m. or as soon thereafter as may be heard on the following: In accordance with North Carolina General Statute $158-7.1(c), the purpose of the hearing will be to receive public comments on a proposed Economic Development Incentive being considered for Project Rabbit, a company proposing to establish operations in China Grove.
Project Rabbit is expected to (1) create a significant investment in real estate and equipment, $584.3 million, and (2) create 2,500 new full-time jobs and approximately 2.600 seasonal part-time jobs. The incentive offer proposes to offer an assistance grant that will total a maximum amount of approximately $22.4 million and will be paid over a term not to exceed fifteen years. It is estimated that Project Rabbit will generate approximately $5.6 million in tax revenue for the Town of China Grove over a fifteen year period, after all incentives are paid.
Original source can be found here.
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