TITLE
Title
PUBLIC HEARING FOR CONSIDERATION OF AN ECONOMIC DEVELOPMENT INCENTIVE GRANT FOR OPSUN SYSTEMS, INC. (FORMERLY PROJECT INSULATION)
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SPONSOR
Sponsor
Marvin Price, Greensboro Chamber of Commerce
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BACKGROUND
Background
Having been duly noticed, the Board is asked to hold a public hearing to consider an economic development incentive grant, in accordance with N.C. General Statute 158-7.1, and receive public input on the proposed allocation of funds in the amount of $71,127.
Opsun Systems, Inc. (formerly Project Insulation) is considering an expansion at its 772 Gallimore Dairy Rd facility in High Point, in addition to other options within the United States, for a projected investment of $17,050,000 in an existing facility and the creation of thirty-two (32) new jobs by December 31, 2029. 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.
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REQUESTED ACTION
Requested Action
Pursuant to N.C.G.S. 158-7.1, hold a public hearing and consider approval of an economic development incentive grant to Opsun Systems, Inc. (formally known as Project Insulation) in an amount not to exceed $71,127; 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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