The city of Winston-Salem earned about $73,500 in the past three months by investing money paid back to the city early by Dell Inc. -- a net profit of about $35,000 -- city officials said last week.
Dell repaid about $15.5 million to the city in November, after announcing it would close its desktop-computer assembly plant early this year, eliminating about 900 jobs. The city offered Dell a 1 percent discount -- about $39,000 -- to repay early, and city officials invested the repaid funds.
Denise Bell, the city's finance director, said the city invested the Dell money into government agency bonds.
"We invest just like anyone else would, but we are governed by state statutes as to what we can invest in," she said. "There are no immediate plans to use this money for any purpose, so it continues to be invested."
Dell announced last October that it would close. It also said it would pay back the incentives it had received to move here, though the company was not legally required to pay those incentives back until plant operations stopped.
The plant is expected to cease operations in April.
Dell also repaid about $7.9 million to Forsyth County, about $2.8 million to the Millennium Fund and about $308,000 to the Forsyth County Development Corp.
lgraff@wsjournal.com
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