Incentives approved for Thomas Built expansion

October 14, 2014

ASHEBORO — Representatives from the City of Archdale and Randolph County governments met Tuesday to approve the expenditure of $66,098 in economic incentives for High Point-based Thomas Built Buses to expand at its Archdale plant.

Archdale City Council members voted unanimously to provide $20,284 of the package. Randolph County commissioners approved in a split vote $45,814. The payments will be conditional on the company satisfying certain performance requirements.

Commissioner Phil Kemp voted against the package. After the hearing, Kemp said he has no problem with Thomas Built Buses, saying it is a good company. He said he believes payment of the $66,098 should have been split evenly between the city and the county.

Thomas Built plans to create at least 236 jobs over the next five years. The company currently has 1,300 full-time employees. Company officials told commissioners 23 percent of their employee base comes from Randolph County.

In addition to the jobs Thomas Built will be required to invest $4,030,000 in real and personal property within the city and county by 2016. Bonnie Renfro, Randolph County Economic Development Corp. (EDC) president, said this is just part of a statewide package that may also include participation by High Point, Guilford County and the state of North Carolina.

“The Randolph County EDC sees this request as an investment, rather than an expense,” said Renfro in her prepared remarks. “Your support of wealth creation activities through the location and expansion of manufacturing companies supports a strong local economy, a growing tax base that keeps tax rates low for all and quality job opportunities for local citizens.”

The city and county will fund the payments with available revenues in their respective general funds.

Source: Courier Tribune