High Point OKs $94,500 in incentives for company
Thursday, September 9, 2010
(Updated Friday, September 10 - 9:11 am)
HIGH POINT — High Point City Council approved $94,500 in incentives for Baltek on Thursday morning.
The composite product manufacturing company is considering a site at 5240 National Drive for its U.S. headquarters. The company is also seeking funds from the state, Duke Energy and Guilford County, which will hold a public hearing for an incentives request next week.
Baltek will have to meet performance agreements over a three-year period before funds are released.
The company says it will create 68 jobs — 56 new jobs and 12 that will transfer from out of state. The average annual wage will be $37,817.
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