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Posted September 23, 2021

 

The performance-based package includes up to $120,000 in grants paid to the unknown company in five annual installments of up to $24,000. NEW HANOVER COUNTY — The New Hanover County Board of Commissioners approved a six-figure incentive agreement for an unnamed software company at its regular meeting Monday morning.

Wilmington Business Development, helmed by Scott Satterfield, is spearheading the recruitment. Satterfield told the board “Project Manage” is a company “that we have been working with for several years that’s an existing business in New Hanover County.”

Public documents refer to the company as “Project Manage.” State law allows for secrecy when businesses are staking out opportunities that involve incentives paid for with public funds, as in this case. The name will be released once the deal is finalized, or if it falls through. The company in question is a “software development firm,” according to chairwoman Julia Olson-Boseman’s comments during the meeting.

The company employees 100 people and is looking to double its workforce. The financial incentives are contingent on the company creating 104 new jobs in the region over the next five years, with an average salary of $80,000.


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