Winston-Salem won't try to outbid Triad cities
The move cements an ongoing working relationship between the economic development organizations in the Triad, including Winston-Salem Business Inc. Garrett Owens, the organization's vice president, said he has seen local governments in the area make an effort to avoid bidding wars.
On Monday, the Winston-Salem City Council voted to pay CFS II up to $500,000 over seven years on the other hand for the jobs and an investment of more than $6.6 million.
In addition, they said, the incentive package would come with a claw-back feature that would allow the city to reclaim money if the company failed to live up to its goals - one of them being an average salary of more than $41,000.
Winston-Salem's incentive package comes to $250 per job, or up to $500,000 in total incentive money, which would be paid only afterwards a job is in place. High Point's tentative offer, which was taken off the table as announced by Hill, came to $500 per job, or up to $1 million.