Orange County NC Website
Browse       Search
24 <br />CARY <br />• No formal policy -review each project on individual basis <br />• Capital investment and number/quality jobs are prime evaluation criteria <br />FUQUAY VARINA <br />• ape _ appropriate of funds, town services or another 'appropriate form <br />• Wage Requirements -equal to or greater than median wage in Wake <br />County <br />• Payback - 36 months <br />• Process -provide Town Manager with confidential request to contain: <br />o Company profile (history, business, current financial statement, <br />economic and employment philosophy) <br />o Employment numbers for previous 5 years <br />o Number new jobs proposed <br />o Median wage, benefits, health insurance for employees <br />o Water & sewer needs <br />o Amount/type hazardous waste used, generated, discharged <br />o List of governmental grants/incentives received by, applied for, to <br />be applied for or offered to business <br />o Amount of capital investment to be made <br />Terms -to include: <br />o Construction/expansion complete'within a time specified" <br />o Business must operate at stated employment capacity 'for a time <br />specified' <br />o Business to identify size, type cost of capital investment <br />o Identify number hires, number work shifts and employment terms <br />o Wage rates <br />o Incentive will be recouped within 36 months <br />o Promise to be 'community involved' industry and encourage <br />employees to reside in Fuquay and to become involved in <br />community organizations <br />Miscellaneous Information <br />o Pose little/no environmental threat <br />GARNER <br />• Type _ Reimbursement of new property tax revenue on the following <br />schedule; <br />o Year 1- 95 <br />o Year 2 - 85 <br />o Year 3 - 5 (or until max incentive amt met)- 75 <br />o Incentive paid after documentation of taxes paid and request for <br />reimbursement provided to Town <br />Page 8 of 13 <br />