Town of Benson Resolution 276-2025 Economic Development Incentives
Benson Authorizes Incentive Agreement with Vulcan Elements
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Description
The Town of Benson Board of Commissioners authorized execution of an Economic Development Incentive Agreement with Vulcan Elements for Project Polaris. In exchange for incentives, the company will invest at least $826.29 million and create no fewer than 900 new permanent full-time jobs at a rare earth magnet manufacturing facility in Benson.
Contract Details
Vendor
VULCAN ELEMENTS
Agency
Town of Benson, NC
Contract Type
OTHER
Document Date
November 24, 2025
Renewal Info
The Agreement is designated as a continuing contract under North Carolina General Statutes § 153A-13; detailed renewal or termination provisions are contained in Exhibit A, which is not included in the resolution text.
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