Smithfield Packing – Incentives

On Thursday, November 10th Smithfield Packing announced an expansion in Lenoir County to create 330 jobs.  Here is the article:

  • $85.5 million dollar construction project
  • 330 new jobs
  • $27,644 average annual salary
  • $9,122,520 new wages to be earned in Kinston, Lenoir County

Here are the City of Kinston incentives:

 – Over the next 10 years this development will generate $4,237,178 in new taxes to the City of Kinston.  The City of Kinston, based on a  performance agreement that they create 330 new jobs and maintain these jobs over the next ten years, will grant back $2,700,000 to Smithfield over the ten year period.

 – The two plants together will form our largest electric customer in the City of Kinston.

 – The City of Kinston is eligible for $3 million in State grants to increase our sewer capacity to the industrial park due to the new jobs being created.  The sewer expansion, which would ultimately serve the entire Hwy 70 industrial park, is a $4.3 million dollar project with the county and city splitting the remaining $1.3 million.  Golden LEAF, EDA, NC Rural Center and NC Department of Commerce are other sources being pursued for sewer expansion grants.