On Monday, Sept. 22, Council heard a request from FCEDC President & CEO Robert Van Geons to consider providing a $327,487 incentive grant from the City, to be paid in annual installments over five years for Project Superman.
The proposal is for the expansion of an existing Fayetteville company that manufactures steel and currently employs 58 individuals. Virginia and South Carolina are also competing for the company’s interest.
The proposed project would be built on an undeveloped 75 acre tract on Shaw Mill Road. The expanded business would add an additional 42 full time employees with an average salary exceeding $66,700. The project in total represents a $22M investment in new buildings and equipment.
Council approved the 5-year grant in keeping with the City's adopted incentive policy. The item passed unanimously.
The project will go to a public hearing at the county on Oct. 6.
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