Charlotte Area County Includes Felony Clause in Incentive Agreements

Two weeks after sweetening the incentives used to attract businesses to relocate or expand in Cabarrus County, North Carolina the board of commissioners is considering a policy clause that targets felons.

County Attorney Richard Koch will discuss the proposed changes with the Cabarrus Economic Development Corp. and bring the final wording back to the commissioners.

Commissioner Coy Privette pitched the idea in July after the arrest of Gene Haas, who is accused of defrauding the government of more than $20 million. Haas is the owner of Oxnard, Calif.-based Haas Automation and NASCAR's Haas CNC Racing in Kannapolis.

In exchange for three years of tax breaks, the Kannapolis company recently promised to invest $40 million in a wind tunnel in Cabarrus that would be used to test racecars and other vehicles.
If the proposed clause is approved, the county could cancel any incentives given to a corporation if any of its corporate officers were guilty of a felony. The policy also would require the company or person to repay any incentive money.

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