Town of Benson Board of Commissioners Special Meeting Agenda April 2026
Benson OKs 15‑year tax incentive for Vulcan Elements
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Description
The Town of Benson approved an economic development incentive grant agreement with Vulcan Elements supporting a planned $826 million-plus investment and 900 new jobs. The 15-year grant rebates a portion of real and personal property taxes on a step‑down schedule tied to performance benchmarks.
Contract Details
Vendor
VULCAN ELEMENTS
Agency
Town of Benson, NC
Contract Type
FINANCIAL_SERVICES
Document Date
April 29, 2026
Contract Term
Years 1–15 with step‑down schedule
Renewal Date
2040-12-31
Renewal Info
Agreement runs up to 15 years with declining reimbursement percentages; includes provisions to recalculate grant amounts if capital investment or job creation thresholds are not met.
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