Rutherford County Commissioners entered into an economic development incentives contract with a mattress manufacturing operation to occupy the former Cone Mill in Caroleen. Mark Isbill presented the proposal to manufacture mattresses containing diatomanceous earth tape.
Diatomaceous earth is an effective bed bug powder free of harmful chemicals. It kills bed bugs by absorbing the oily, protective layer that covers their exoskeletons.
The Economic Development Grant is equal to fifty percent (50%) of net new property taxes paid once certain thresholds are achieved and could extend for up to five (5) years provided jobs, investment and wage levels are met and maintained. For the incentive to continue for five (5) years, the company will create at least twelve (12) jobs with an overall average wage of at least $31,200 annually plus benefits and make personal property investments resulting in a net tax value increase of at least $1,000,000.