The Hope Mills Board of Commissioners approved an economic development incentive for “Project Shade” at their meeting on June 16. “Project Shade” refers to a United States headquartered company that is considering 103 Tom Starling Road for a new manufacturing and distribution center. 

The company's identity remains confidential at this time, but Fayetteville Cumberland Economic Development Corporation (FCEDC) Executive Vice President Rob Patton shared during the meeting that the company manufactures accent items that can be found in the home or office. 

If selected, the project will:

• Create at least 45 new jobs, to be located at a facility in Hope Mills by 2026
• Pay an average wage exceeding $38,000 per year
• Increase Hope Mill's tax base by more than $10 million 

The reason for this grant request is the unforecasted expense of a gas line extension. In order to reach full employment, a gas line extension costing $67,123 is required to support their operations. The Company requested the town consider approving a $750 grant per job created (not to exceed $33,750) to help them manage this unexpected cost. In order to receive the grant, the Company will be required to provide documentation of the qualifying expenses and demonstrate that the jobs have been created. 

If successful, the Town of Hope Mills would benefit from the tax revenue generated by the facility, economic activity stimulated by its construction and wages paid to the employees. At a minimum, FCEDC projects:

• The Town would receive more than $50,000 in annual tax revenue
• More than $1,900,000 in annual wages would be paid to employees

The incentive passed by a 3-2 vote.