JACKSONVILLE, N.C. (WNCT) — The Onslow County Board of Commissioners on Monday unanimously approved an economic development proposal through which the county will sell about 16 acres within Burton Park to Trask Land Company, with the agreement that the investment will provide substantial property tax revenues and provide for at least 100 new jobs at above the County’s median income.

Trask Land Company will make an estimated $13 million investment on the land in buildings and related items. The county has the option to abate the yearly payments so long as the investment by the company produces the jobs and taxes.

County Attorney Brett DeSelms presented the item to the board indicating that the cost of the land is $928,500 being forgiven for the development of the project and the creation of the jobs. When fully developed after four years, the development would produce about $90,000 which would would be collected each year in new taxes, as there are no taxes generated from the property currently.