Agenda - 10-15-2013 - 5a - Laserfiche WebLink

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7 1 • Annual Payroll, w/ benefits: $3.4 million 2 • Facility Size & Type: 120,000 sq. ft. 3 • Type of Operation: Production of fruit flavored candy snack "Hi-Chew" 4 • Site Size: 21.00 acres (Buckhorn Economic Development District) 5 6 Although the Company has not committed to making any additional investment at this time, we anticipate a 7 plant expansion of equal size may eventually occur, since the property is large enough to accommodate an 8 idential "Phase Two" expansion. Company comments also support this long-term growth plan. 9 10 11 12 Site Location in the Buckhorn Economic Development District: 13 • The 21.00 acre tract is part of the "W. H. Wilson Family Investment Group LLC" property, PIN # 14 9824459890. Located adjacent to Ben Wilson Road, south of and facing Interstate 1-40/1-85, and 15 near the Orange/Alamance county line in the City of Mebane. Site is part of a cleared 57-acre field 16 facing the highway, and opposite the Armacell facility and Tanger Mall. 17 18 • Site is located within the County's "Buckhorn Economic Development District" and was rezoned by 19 the BOCC in 2012 to O/1 (Office/Institutional) to promote business recruitment. Site is currently 20 undeveloped without infrastructure. The owner is in the process of applying to the City of Mebane 21 to have this property annexed and rezoned. 22 23 • The utility infrastructure and road access improvements required to the make Orange County's site 24 competitive to attract Project Rainbow will also make adjacent properties in the Buckhorn Economic 25 Development District more developable, attractive and competitive to appeal to future business 26 prospects. 27 28 • In comparison, Project Rainbow's other finalist location, near Atlanta, offered the company a lower- 29 priced and established business park with all required infrastructure and tenants already in place, 30 thereby giving the company a greater comfort level as it evaluated advantages (incentives, business 31 costs, logistics, etc.) between that location and Orange County's largely undeveloped site. 32 33 Site Location in the Buckhorn Economic Development District: 34 • The N. C. Department of Commerce has pre-qualified Project Rainbow and Orange County as 35 eligible co-applicants to receive a grant up to $750,000 from the State of North Carolina's 36 "Community Development Block Grant" (CDBG) industrial program. This State grant will 37 reimburse the County for 75% of the required water & sewer extension costs, and the 38 preliminary engineering for the access road to the site, with Orange County providing a 39 required 25% local match for the remaining cost. The estimated total cost to extend water 40 and sewer to the site, and design the road improvement may be approximately$700,000, but 41 the County's portion will be only 25% of that amount with the CDBG's reimbursement 42 assistance. 43 44 • One of the criteria specific to the CDBG program is that among the total number of jobs Morinaga 45 commits to create in the first 3 years, at least 60% of those 90 — 120 total jobs must directly relate to 46 persons who are qualified as coming from low or moderate incomes, prior to coming to work for the 47 company. This population is typically a County resident who is either unemployed or 48 underemployed, and who has an income level at, or below 80% of the County's median income. 49 This is the same criteria as used by the County's affordable housing department to qualify low and 50 moderate income residents for Section 8 housing vouchers. Morinaga's projected average salary of 51 $37,969 will meet this requirement. 52 53 • The cost to extend a 12" water line a distance of 3,700 linear feet to the site is estimated at 54 $375,000 and the cost to extend a 10" sewer line a distance of 1,500 linear feet to the site is