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HomeMy WebLinkAboutC.054.93011_0599766 OTIO by Commissioner Norman to consider the request during the FY 2005-06 budget deliberations. VOTING: Ayes — 5; Nays — 0. PUBLIC HEARINGS Chairman Tice declared the meeting to be in a public hearing. Consideration of an Economic Development Incentive for PGI Nonwovens: Economic Developer Melanie O'Connell Underwood said PGI Nonwovens (FNA Polymer Corporation) was considering a $38-$40 million expansion. She said other locations were being considered for the project, and these were in Virginia, Mexico, and Columbia, South America. Underwood said that in accordance with the county's incentive policy, the company would be eligible for a $793,440 grant (over a six-year period) if the investment turned out to be $38 million, and $835,200 (over six -years), if the project was $40 million. Christopher Scuron, the plant manager, said the project would bring approximately 32 new wage positions to Mooresville. He said over a couple of years, a total of approximately 50 new people would be added (average salary of employees to be $52,000). Scuron said that if the Mooresville plant were chosen for the expansion, the site would probably become the headquarters for the company. No one else desired to speak, and Chairman Tice adjourned the hearing. OTIO by Commissioner Johnson to grant an economic incentive to PGI Nonwovens, of an amount up to $835,200 (over a six-year period), based on a $40 million investment. VOTING: Ayes — 5; Nays — 0. Chairman Tice declared the meeting to be in a public hearing. Consideration of an Economic Development Incentive for the Carolina Beer & Beverage Company: Economic Developer Melanie O'Connell Underwood said the Carolina Beer and Beverage Company was the second largest brewery in North Carolina. She said the company was considering a $6 million expansion, and this would make it eligible for an incentive grant of $104,400 (over a five-year period). Jennings Gray, the site consultant, said the company started in 1997-1998, and the owners had taken a 50 -acre field valued at approximately $100,000 and turned it into a park (Barley Park) worth $8,313,251.00. He said the tax revenue in 1998 was $150 compared to today's $57,000+. Gray said the company expanded in 2002 by adding 60,000 sq. ft. ($5 million cost). He said two additional beverage lines were added which necessitated the addition of third -shift workers. Gray said in 2004 a low- carb beverage line was added. He said the company currently had 60 employees, and the $6 million expansion would double the workforce. Gray said the total annual payroll would be approximately $2 million. No one else desired to speak, and Chairman Tice declared the public hearing closed. OTIO by Commissioner Robertson to grant the economic incentive of $104,400 (over a five-year period) for Carolina Beer and Beverage based upon a $6 million investment. VOTING: Ayes — 5; Nays — 0.