Wayne County approves framework to offer up to 30% tax incentive for potential $756M investor

Wayne County's Board of Commissioners approved a framework to offer an incentive package to a prospective investor that could commit up to $756 million in capital and create up to nine permanent jobs. The motion, approved 6‑1 during a public hearing and work session, authorizes a performance‑based grant equal to up to 30% of new real and personal property tax revenues payable over 10 years, to be finalized only after the company selects Wayne County and the county verifies reported values.

Economic development staff said the company’s reported average wages would be high — “$85,000 and above” — and described the arrangement as performance based and year‑behind in accounting. Mr. Pope, who presented the proposal, told the board the county needed to offer a near‑term commitment so the company could include incentives in its site selection materials; he said final numbers will be calculated once the firm reports the taxable investment to the county and state.

County staff cautioned that the 30% commitment applies only to taxes actually reported to the county and will be subject to a performance agreement and clawbacks. County Attorney Andrew and the county manager said the board would see a specific contract and exact incentive schedule if the project advances to a firm site choice and after any necessary state reporting is complete.

Several commissioners asked about the project’s tax yield and timeline. Staff said the county could not yet provide a definitive revenue estimate because the final appraisal of real and personal property — and the resulting tax base — depend on the company’s capital selections; staff gave a preliminary example that suggested the county might see about $1.7 million in additional revenue in a strong scenario. Commissioners also emphasized that construction jobs and contractor activity would be separate from the nine permanent positions counted in the incentive deal.

The board voted to approve the incentive framework and directed staff and the county attorney to return with a performance agreement containing definitive language, tax calculations and reporting requirements if the company selects Wayne County.

Next steps: staff will negotiate a performance‑based agreement and schedule a public hearing for the final terms and numbers if and when the company locates in Wayne County.