A Smithfield business has received an incentives grant from the Town of Smithfield and Johnston County Board of Commissioners. Known as the Smithfield Historical Area Revitalization Policy or SHARP, Mohamed & Sons, Inc. won approval for a grant that will offset the property taxes on a new business for the next 5 years.
Mohamed & Sons, Inc. operates Sound Station and Security at Market and Brightleaf Boulevard. The company is building a new and larger location behind their existing storefront on Brightleaf Boulevard where Lloyd’s Transmission was at one time located.
The construction project is valued at $3 million. The SHARP grant will offset any increase in city and county property taxes for 5 years following construction.
In return the business will hire 10 new, permanent full time employees.
County commissioners approved the request on August 7th. The Smithfield Town Council approved the same request on July 11th.