x
Breaking News
More () »

Greensboro mayor speaks on Toyota coming to the Triad and an incentive approval

The city of Greensboro approved waiving some water and sewer fees for the company. The company will be located at the Greensboro-Randolph Megasite.

GREENSBORO, N.C. — Triad and state leaders approved incentives to seal the deal on Toyota's plan. 

The city of Greensboro approved waiving some water and sewer fees for the company totaling $800,000. Greensboro Mayor Nancy Vaughan said this is a performance-based incentive meaning the company has to do something to show they're going to perform. 

The city of Greensboro worked with several entities including state officials and Duke Energy to be able to waive water and sewer fees.

"Our incentives come with a clawback procedure so that if the project doesn't work then the incentives aren't granted. That's the way a lot of incentives work. In some cases they're almost rebates, they're not upfront payments," Vaughan said.

Vaughan is confident in Toyota building a successful plant at the megasite. She said a company like Toyota will help with the Triad's growth. 

"There will be suppliers that will come into our areas who want to be in close proximity to this employer. So, there are always spin-off businesses and that is hard to calculate upfront but we've seen it done across the country," said Vaughan. 

She also said it will help the workforce development departments at colleges. 

"When there are employers like this, they tell us what exactly the skills are needed to be successful. They bring in teachers just to teach those skills," said Vaughan. 

She said skills could even be taught through career and technical education programs at high schools.

In Randolph County, as part of a Phase 1 commitment, commissioners there agreed to the county paying 60% of the countywide property tax the company pays.

The county may pay extra payments to cover permitting fees required to build and operate the facility. In Phase 2, the county will increase the property tax payment to 70% and again pay fees needed to build and operate the facility.