Lorillard and Dana Corp. approach the Greensboro City Council for incentives.
Two major corporations with sights set on Greensboro will ask City Council members tonight for more than $280,000 in economic incentives to relocate their businesses here.It will be the first time the city has considered granting financial incentives to a business since the N.C. Supreme Court ruled March 8 that such incentives are legal.
Dana Corp., one of the nation's leading auto parts makers, is asking for $39,700 in city incentives for site improvements at its new location in Rock Creek Corporate Center. Dana officials already have purchased the 207,000-square-foot building.
The axle-maker will invest at least $27 million in its Greensboro plant and will employ as many as 270 people in the first three years of operation.
Lorillard Tobacco Co. is asking for $241,200 in incentives to move its corporate headquarters from New York to Greensboro. The cigarette manufacturer, which operates its only plant in Greensboro, will make a final decision whether to move to the area after the city and county consider its request for incentives. No site has been identified. Lorillard would invest $12 million and would create as many as 275 jobs for local residents in the first three years of operation.
Both companies qualify for the incentives by planning to invest more than $5 million in the community, creating at least 25 new jobs, and offering salaries at or above the average wage for the industry.
Both companies are requesting additional financial incentives from Guilford County. Dana has asked for $351,000 from the county for on-site improvements; Lorillard has asked for $156,000. The County Commissioners will consider those requests Thursday.
Also tonight, the City Council will hold a public hearing on the proposed annexation of 2,659 acres just west of Piedmont Triad International Airport. The property contains mostly commercial and industrial property, as well as 302 residents.
WANT TO GO?
What: Greensboro City Council
When: 6 p.m. today
Where: Council chambers, second floor, Melvin Municipal Building,300 W. Washington St.
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