Greensboro City Council and the Guilford County Commission voted Thursday to give nearly $4 million in incentives to a major agrochemical company based in the city.
Council members voted to provide $1.7 million in tax breaks to Syngenta Crop Protection. The county commission followed suit, offering another $1.9 million. Both deals require the company to retain 650 jobs and invest in its local operations.
Officials are hopeful the incentives will entice Syngenta to remain in the city. The company has operated in some capacity at the same Greensboro site since the 1960s. Company leaders are considering renovating their 17-building facility or relocating to a new site altogether.
Michelle Kennedy was the only city council member to vote against the agreement, noting it does not create new jobs in the city.
“I cannot support this incentive," she said. "I'd much rather direct my interest to seeing us develop in economic development areas, developing new job creation — those pieces really carry a higher priority for me. But I want to express my appreciation for Syngenta.”
This isn't the first time Greensboro City Council has stepped in to prevent a company from moving. In the past year, the city has granted incentive packages to grocery chain The Fresh Market and clothing company Centric Brands.