RES-2013-078 Resolution Authorizing a Performance-Based Inducement Grant Between Orange County & Morinaga America Foods, Inc

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1s - .2 RES-2013-078 A. ORANGE COUNTY BOARD OF COMMISSIONERS RESOLUTION AUTHORIZING A PERFORMANCE-BASED INDUCEMENT GRANT BETWEEN ORANGE COUNTY & MORINAGA AMERICA FOODS, INC. WHEREAS, North Carolina General Statute 158-7.1 authorizes a county to undertake an economic development project by extending assistance to a company in order to cause the company to locate or expand its operations within the county; and WHEREAS, the Board of Commissioners of Orange County has held a public hearing to consider whether to participate in an economic development project with Morinaga America Foods, Inc., and the County has offered to the Company an inducement package as hereinafter set forth; and WHEREAS, Morinaga America Foods, Inc. will construct a facility of approximately 98,000 sq. ft. for the manufacture of the Hi-Chew candy, making an investment of at least $34 million and creating at least 90 new, permanent jobs in Orange County, and WHEREAS, this economic development project will stimulate, diversify and stabilize the local economy, promote business in the County, and result in the creation of a substantial number of jobs in the County, and WHEREAS, but for the offer of an inducement package the Company would not be locating its manufacturing facility within Orange County, and WHEREAS, the Company has agreed to meet and continue meeting the minimum investment and employment requirements as hereinafter set forth, and WHEREAS, the State of North Carolina and the City of Mebane, North Carolina have offered separate inducement packages to the Company;