Sunday, May 19, 2024

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Graham, NC 27253
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Proposed cash grant would be Graham’s contribution toward larger economic development incentives

Graham’s city council is scheduled to hold a public hearing in two weeks in order to consider a proposed $5,065 cash grant incentive over five years for an existing company within the city’s jurisdiction.

“It’s for an existing industry in the city that’s looking to do an upgrade,” Graham’s assistant city manager, Aaron Holland, told The Alamance News Wednesday. A notice for the public hearing describes the upgrade as an “upfit of an existing building” in Graham.

Graham’s city council is scheduled to hold the public hearing and possibly vote on the proposed cash grant at its next meeting on May 14.

Holland indicated that, while he was not authorized to provide specific details about the project, the cash grant would represent the city’s contribution toward a larger incentives package that the company is seeking.

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The city of Graham would use existing funds on hand within its fund balance (“rainy-day savings”) to provide the city’s contribution toward the “economic development incentives,” according to the city’s public hearing notice.

Meanwhile, Holland also suggested that the newspaper contact David Putnam, who is the senior director of economic development for the Alamance County chamber of commerce, whom Holland said would have some “metrics” and other details about the proposed incentives.

Putnam, however, was out of the office on Wednesday.

Chamber president Reagan Gural told the newspaper Wednesday, “There is nothing we can share at this time.”

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