Forsyth County is offering up $10.2 million in economic incentives for Caterpillar to build a factory on a 100-acre site next to the still-running Dell plant.

Winston-Salem Mayor Allen Joines said the city would reveal its incentives package today, adding it is “somewhat similar to the county’s offer.”

North Carolina is prepared to offer $50 million in what is described as a “quick intense incentives battle.”

Note the real winner in a deal involving Caterpillar would be Johnson Development Co. which owns the site being considered in Forsyth and a site in Spartanburg which is also being considered by CAT.

All this going down against the backdrop of Winston-Salem raising taxes and cutting services this fiscal year.

Update: Winston-Salem will offer up $13.3 million, with Mayor Joines assuring residents that “(a)ll funds paid to Caterpillar will come from either the Dell repayment monies or from new taxes paid by Caterpillar itself. No city general fund money will be expended.”