Caterpillar announced Wednesday plans to expand its Lee County manufacturing facility with a tax base investment of $1 billion, the largest such investment in Lee County history.
The announcement came weeks after the Sanford City Council and the Lee County Board of Commissioners agreed to an economic incentive worth more than $85 million. The county will give the company $46 million, and the city will give $39.5 million over 12 years, contingent on payment of annual property taxes and the company maintaining at least 1,950 jobs at an average wage of more than 65,000.
Caterpillar’s investment includes plans for a new modern manufacturing facility in Sanford, designed to increase production of compact track loaders and telehandlers to meet customer demand. The project supports Caterpillar’s Cat Compact strategy, which is focused on delivering a more streamlined and convenient experience for small contractors and growing businesses.
“As demand for compact equipment continues to increase, we’re investing to better serve this growing segment of customers,” said Caterpillar Construction Industries Group President Rod Shurman. “This investment is another way we are solving our customers’ toughest challenges by expanding access to the products, solutions and services they need to work more efficiently.”
The Sanford City Council approved its part of the incentive package on September 15; Lee County Board of Commissioners followed suit on September 21.
Companies involved in economic development projects with incentives are not typically named prior to a decision being made. Officials with the Sanford Area Growth Alliance referred to the project in question as Project Paragon.
Now they can put a mortitorium on the data centers like we requested!!
Why should 70K people in Lee County pay higher taxes to support your lifestyle and the lifestyle of just 30-40 people? That’s what you are requesting.
Can I have a few million too?
I’d be happy with a half a mil..lol.
Caterpillar came to Lee County 29 years ago. They have shown a commitment to Lee County. Pfizer is another large employer here (Remember that Pfizer was Praxis, Lederle ad Wyeth). But both have had multiple layoffs during those years.
Commissioners have to commit to having a diversified workforce. Otherwise, Lee County could possibly suffer during an economic like they had when all our textiles were sent overseas. We need different types of industry here.
Having a Data Center in our area will benefit our local economy. We see this with the new businesses, houses and other new developments. The Data Center will bring better paying skilled jobs. They will bring future growth and employment stability.
Unused underdeveloped land does not benefit the community.
Under used and underdeveloped as in farm lands?
We were already seeing new businesses, houses, and other new developments WITHOUT any data centers. So, your logic is flawed from the start. Plus, the data centers won’t create many jobs after they are built. Any of the highly skilled jobs will go to outside consulting (not local or remote). MAYBE if we’re lucky those jobs could go to RDU commuting workers. Only a handful of local jobs we will get are janitorial, maintenance, and security. Data Centers literally leach off of our water and electricity and provide little in return.
Data centers generate several hundred thousand dollars to tens or even hundreds of millions of dollars per year in tax revenue. Local governments typically collect real property taxes (land, buildings, permanent improvements) and business personal property taxes (servers, networking gear) from data centers. Do some research on data centers, this isn’t the boogey man they are bringing into lee county. This is a large building with servers that will significantly financially upgrade our community, and we should be happy they have chosen our community to build it in.