HomeMy WebLinkAboutC.054.93010_0227Murphy said the facility, excluding furniture/fixtures/equipment, would be over $5 million.
He said the facility needed "highly specialized personnel."
Commissioner Johnson asked how many people would be employed.
Murphy said that when it was fully operational, there would be two teams and the number
of workers would he in excess of 100 people. He said the facility currently had 40 people employed
at its location on Rolling Hills Road in Mooresville, N.C.
Commissioner Johnson asked the average salary amount for the employees.
Murphy said it was "substantially higher" than the average wage paid in the county.
Commissioner Fortner requested the county manager to explain the Iredell County Industrial
Incentive Policy for the audience.
County Manager Mashburn said the mission of the policy was to stimulate the creation of
above-average jobs in the county and to increase the tax base. Mashburn said the grants were
calculated on the total tax base created and then allocated over a five-year period. He said no
disbursements were made until the facilities were completed and added to the county tax base. Mr.
Mashburn said the purpose of the hearing was to seek public input regarding the incentive. He
continued by saying that if the board of commissioners agreed to the incentive appropriation, the
county attorney would work with the company's attorney to draft an agreement. He said the
agreement would stipulate the obligations of the company and county.
Arlene Foster said that in June of 2000, she appeared before the board on behalf of the Junior
Service League. At that time, she asked why the needs of the Iredell County Library seemed to be
on the "back burner." Foster said she was told the county did not have funds to remedy the library's
problems. Mrs. Foster mentioned the recent financial increase for the Mooresville library from
$175,000 to over $535,000. She explained that she had been told the increase was due to the
population growth in the southern end. She questioned the incentive for the racing facility and the
county's priorities. She asked why the county had to "bribe businesses to locate or stay in the
county." Foster said the county's low tax rate was enough of an incentive. She said Iredell County
was in the best of economic times and that local businesses were begging for the proper number of
workers. She questioned if the Eel River Racing incentive would be in the best interest of the entire
county. Foster said the $100,000 would go further if it was used for either the school budget or the
library. Finally, Foster said that economic incentives should be used during a "slowdown in the
economy - - not when the county was experiencing such good economic times and population
growth" Foster said she had heard the racing facility had been "courted" by Cabarrus County. She
said Cabarrus had a 59 -cent -tax rate. Mrs. Foster said the company was already saving money by
remaining in Iredell County with its 47 -cent -tax rate.
Commissioner Johnson said the incentive amount in any calendar year would not exceed the
amount the county would collect in taxes. Johnson said the county would not be realizing, in any
calendar year from now until the next five years, any more money going out than would be coming
back. Johnson said that industry was recruited because residential property, typically, did not pay
enough to provide the services required.
Mashburn shared a letter from Melanie O'Connell Underwood, the economic development
developer for the Mooresville -South Iredell Chamber, advocating the incentive for the company.
No one else spoke and Chairman Tice adjourned the public hearing.
MOTION by Commissioner Johnson to grant the economic incentive for the Eel River
Racing Company in the amount of $100,000.
VOTING: Ayes - 4; Nays - 0.