Martin County adopts framework to negotiate incentives for confidential ‘Project Bonfire’

The Martin County Board of Commissioners unanimously adopted a resolution Dec. 28 authorizing county officials to negotiate an economic-development incentive agreement with a confidential prospect referred to as Project Bonfire, county minutes show.

Martin County Economic Development Corporation President and CEO Jason Semple presented a summary saying the project would involve approximately $90,745,283 in taxable investment and would allow the company to retain about 300 full‑time jobs over the next eight years. An earlier newspaper advertisement listed 358 retained jobs; the client corrected that figure on Dec. 18 and staff said the change did not alter the proposed incentive amount. The board opened and closed a public hearing on the proposal without receiving public comment.

The county’s proposed incentive would contribute up to 70 percent of net new real and personal property tax revenues generated by the company for a duration of up to eight years to offset the costs of its taxable investment if the company selects Martin County. The hearing was held under North Carolina General Statute §158‑7, the minutes state; Semple said no additional public hearings were anticipated but that any incentive agreement would be presented to the board for approval if the company chose Martin County.

Commissioner Elmo “Butch” Lilley, who moved to open the public hearing, said the county should be proactive in seeking and keeping quality jobs. The board approved the resolution and a separate motion authorizing the county manager and county attorney to prepare a mutually agreeable incentive agreement if the prospect elects to locate in Martin County.

The project was described as competing with locations in South Carolina and Ohio; Semple said he hoped the company would reach a decision in the first quarter of 2019. The resolution does not itself commit tax revenue; it authorizes the county to enter into an agreement and directs staff to prepare an agreement for board consideration.

If Project Bonfire chooses Martin County, the incentive agreement negotiated by staff would return to the Board of Commissioners for formal approval.