A major economic development announcement will be made Wednesday in Clayton.
A company is reportedly planning to locate in the Clayton-area and hire several hundred full-time employees. The name of the company has not been released but reportedly has been working with the State, Town of Clayton, and Johnston County Commissioners to put the deal together. It is anticipated to be one of the largest economic development announcements in North Carolina in recent years.
The company has proposed to locate in Johnston County in exchange for economic incentives. Options have been secured on 95 acres of land at a price of $2.2 million. The County will pay for the land over the next 5 years along with a $350,000 investment by the Johnston County Economic Development Corporation. The County also has the option to obtain a commercial mortgage loan and then repay the debt.
The property will be conveyed or leased to the company with an option to purchase in consideration for their commitment to operate the new facility with “several hundred new full-time hires.” Additionally the business will pay property taxes that will repay the county’s investment on the purchase of the land. The company would have to reimburse or return the land to Johnston County if they do not fulfill those commitments, according to Johnston County Commissioner Chairman Tony Braswell.
The official announcement will be made Wednesday afternoon at the Johnston County Workforce Development Center on Bestwood Drive in Clayton.