City of Sanford is About to Score Major Economic Win

City backs $600 million mystery project

By Shannon Keith The Sanford Herald

Jul 23, 2026 Updated 9 hrs ago

One of the biggest potential projects in the City of Sanford and Lee County took another step forward Tuesday after the Sanford City Council agreed to provide millions of dollars in economic incentives that could bring hundreds of high-paying jobs to the area.

During its Tuesday meeting, the Sanford City Council unanimously voted to offer more than $11 million in funding to an unidentified company in hopes that the company will build a facility in Lee County as soon as next year.

The vote was part of what is now called Project Sol, a massive economic development initiative in Sanford and Lee County. Project Sol involves an unidentified healthcare company that is planning a $600 million investment that will create at least 335 jobs in the area with an average salary of $71,132.

Economic incentives are rewards that a municipality can offer a company to notice them to operate in its city or county.

During its July 13 meeting, the Lee County Board of Commissioners approved approximately $13 million in local incentives to secure the project.

Currently, city staff said Sanford and Lee County are in competition with an undisclosed municipality in the Midwest that are offering similar incentives to the company in hopes that it will relocate there.”

Sanford City Attorney Susan Patterson said that, if council approved, the city would provide an estimated $11,027,573 over a period of seven years. The estimate is based on the projected $600 million in investment from the company.

“It could be more or less depending on the level of investment at the time,” Patterson said. “But it is 70% of the ad valorum taxes paid by the company each year over those seven years.”

Patterson said the identity of the company involved in Project Sol would not be revealed to Sanford until the city is selected as its new location.

According to information on the City of Sanford website, if the company selects Sanford for its new facility, the annual payments would begin in 2029 and would be based on the taxes paid by the company in 2028, which would reflect any investments made by the company in 2027.

Jimmy Randolph, the CEO of the Sanford Area Growth Alliance (SAGA), encouraged council members to approve funding for the economic incentive.

“I am speaking tonight in favor of the city’s proposed performance-based economic development incentive for Project Sol,” Randolph said. “Project Sol anticipates creating at least 335 new jobs with an average wage of $71,132 … which is more than 15% higher than Lee County’s current average salary of $59,900.”

Randolph said similar incentive initiatives in the area have shown positive results.

“Your commitment to a strong and strategic economic development program has resulted in decisions by companies like Bharat Forge, Astellas Gene Therapies and, most recently, Kyows Kirin, to invest hundreds of millions of dollars in Sanford,” he said.

Randolph added that if Sanford is selected by the company, it would be the largest project in the city and county’s history.

“The proposed new capital investment will exceed that if any single project we’ve recruited before,” Randolph said. “Further stimulating and stabilizing the local economy.”

Councilman Walter Ferguson agreed.

“This could be a real game changer,” Ferguson said. “This could really make a huge difference in our local economy.”

Randolph said Central Carolina Community College’s Bio work program as well the Moore Center’s Biotech Solutions Center could potentially offer an added incentive for the company because of the skilled talent pool that would staff the facility.

“We are cautiously optimistic that a competitive local incentive offer coupled with strong support from our partners, along with all the other factors in our favor, will be compelling enough to convince the prophet to locate in Sanford,” Randolph said.

Several council members spoke heavily in favor of the decision to approve offering the economic incentive.

“I remember having to commute everyday to Chapel Hill for work,” Councilwoman Linda Rhodes said. “I remember thinking to myself ‘i wish there were good paying jobs here.’ … I think it’s project’s like this that will make that happen.”

Mayor Rebecca Salmon agreed.

“This is very exciting,” Salmon said. “I hope we hear some good news about Project Sol soon.”