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Resolution #: ___ RESOLUTION AUTHORIZING BUNCOMBE COUNTY TO PAY ECONOMIC DEVELOPMENT INCENTIVES AND TO SIGN ECONOMIC DEVELOPMENT AGREEMENT ___ WHEREAS, FOREWARNED TURBO SYSTEMS LLC, a Delaware limited

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What is incentive agreement?

An incentive agreement is a contract between a company and a governmental body that outlines the terms under which financial incentives or benefits are provided to the company in exchange for meeting specific performance criteria, such as job creation or investment.

Who is required to file incentive agreement?

Typically, companies or organizations that are seeking financial incentives or benefits from a governmental body are required to file an incentive agreement.

How to fill out incentive agreement?

To fill out an incentive agreement, one must provide detailed information about the organization, the proposed project, expected outcomes, and meet any specific requirements set forth by the governing body, including narrative descriptions and financial projections.

What is the purpose of incentive agreement?

The purpose of an incentive agreement is to encourage businesses to invest in a community by offering financial incentives, thereby promoting economic development and job creation.

What information must be reported on incentive agreement?

Information that must be reported on an incentive agreement often includes company identification details, project scope, expected job creation, investment amounts, and commitment timelines.

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