US (NC): Syngenta incentive for $1.7 million approved by city council

The Greensboro City Council approved the $1.7 million incentive for Syngenta at a special meeting on Thursday, Jan. 16 in the Council Chamber.

The vote for the incentive was 8 to 1, with Councilmember Michelle Kennedy, who participated in the meeting by phone, casting the lone no vote. Kennedy said that she “deeply valued the presence of Syngenta in the community” and noted that Syngenta had been a big supporter of the nonprofit community, but that she thought there was a better use of the $1.7 million than awarding it to a huge company like Syngenta.

The agreement with the city states that Syngenta will make “an investment of at least $68,000,000 in real and personal property at a facility located in the City of Greensboro within a designated Impact Zone on or before December 31, 2023.”

Since the current 70 acre Syngenta campus is not in a “designated Impact Zone” that means that Syngenta is not going to spend $68 million fixing up its current facility, but is going to build new in a “designated Impact Zone” or it will not qualify for the city economic incentive.

Read more at The Rhino Times (John Hammer)

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