TITLE
Title
PUBLIC HEARING - ECONOMIC DEVELOPMENT INCENTIVE GRANT TO JAMES M. PLEASANTS COMPANY, INC.
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SPONSOR
Sponsor
Erris Dunston (Marvin Price, Greensboro Chamber of Commerce)
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BACKGROUND
Background
Pursuant to NCGS 158-7.1, the Board is asked to hold a public hearing to receive input on a proposed allocation of funds in an amount up to $582,501 for the following request:
The company is set to consider acquiring a location off 238 Ritters Lake Road, in Greensboro, in addition to other options within the United States, for a projected investment of $582,501 in a facility and the creation of forty (40) new jobs. The company is also requesting state and other local incentives before making a location decision. The local approval of incentives does not commit the company to locate in North Carolina.
If approved the County will make cash incentive grants pursuant to the County’s Economic Development Investment Guidelines. The company is also requesting state and other local incentives before making a location decision. The local approval of incentives does not commit the company to locate in North Carolina; however, the cash grants are contingent upon, among other things, the company’s entry into a local economic development agreement with Guilford County containing the obligations and agreements of the company and Guilford County.
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REQUESTED ACTION
Requested Action
Pursuant to NCGS 158-7.1, hold a public hearing and consider approval of an economic development incentive grant to James M. Pleasants Company, Inc. in an amount up to $582,501; and upon approval, authorize staff to execute grant agreements, in accordance with terms and conditions of the proposal, consistent with the County's economic development incentive policy.
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