CLARK COUNTY — The Clark County Commissioners and Council both voted this week to support a prospective industrial company in a non-binding agreement.
As of Wednesday’s commissioner meeting, the company remains anonymous but is represented to the county by Paul Wheatley, founder of the advisory firm The Wheatley Group.
According to the county’s resolution for the non-binding agreement, the prospective company is expected to bring in about 400 jobs that pay above the county’s average wage, as well as bring in “significant capital investment.”
The joint agreement between the two elected bodies solely means that the county can enter into negotiations for the industrial project and are sending a message to the company that they would offer an incentive package.
Though no official incentive package has been created by the county, the council and commissioners agreed that local incentives they could offer include the use of American Rescue Plan (ARP) funds, the establishment of an economic development area and coterminous allocation area, as well as the facilitation and issuance of bonds purchased by the company.
Before an incentive package is approved for the company, it must complete an application for incentives through the Indiana Economic Development Corp..
Any approvals of incentives will have to be approved independently by the council and commissioners in public meetings.
The agreements were approved unanimously both at the council and commissioners meetings.
© 2024 Community Newspaper Holdings, Inc.