TITLE
Title
ECONOMIC DEVELOPMENT INCENTIVE GRANT - PREPAC MANUFACTURING US LLC
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SPONSOR
Sponsor
Brent Christensen, Greensboro Chamber of Commerce
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BACKGROUND
Background
Pursuant to N.C.G.S 158-7.1, the Guilford County Board of Commissioners held a public hearing during their regular meeting on August 6, 2020 to receive public input on the proposed allocation of funds for an economic development incentive grant to Prepac Manufacturing US LLC in the amount up to $597,286 to support construction of a new US manufacturing location expected to generate approximately $26.5 million in capital investment and 201 new full-time jobs. Two of the four sites being considered for the new facility are located within Guilford County.
Pursuant to S.L. 2020-3 amendments to N.C.G.S 166A-19.24(e), the Board provided twenty-four (24) hours beyond the public hearing to receive public comments prior to voting on the incentive.
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REQUESTED ACTION
Requested Action
Consider approval of an economic development incentive grant in an amount up to $597,286 to Prepac Manufacturing US LLC and upon approval, direct staff to take all necessary actions to execute the incentive agreement.
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