Minutes 10-15-2013 - Laserfiche WebLink

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The Board held a public hearing on the issuance of"performance-based" economic development incentives to a private company, and considered approval of the incentive agreement, with claw back provisions, for the recruitment of Morinaga America Foods, Inc. to Orange County and authorized the Chair to sign. Steve Brantley said he is proud to be at the next stage of this process. He introduced Masao Hoshino, President of Morinaga America in California. Masao Hoshino gave a brief review of the history of the company. He said the company was established in Tokyo in 1899 and manufactures confectionary items, ice cream, pancake mix and other products. He noted that one of the founders of the company visited the United States in 1898 to sell pottery and was inspired by his taste of western confectionary items. He said this was the starting point for the company. He said the construction of the facility in Orange County is a landmark event in the company's history. He introduced the grandson of the founder. Masao Hoshino said the company decided to locate in Mebane because of the remarkable business environment, access to transportation and raw materials, as well as infrastructure. He noted there are no harmful materials or chemical pollution produced in the process of making candy. He said the company looks forward to working with 90 or more people at their plant in the near future. Masao Hoshina said he sincerely hopes Morinaga will be accepted and recognized as a contributor to the community for many years to come in Orange County. Steve Brantley reviewed the following PowerPoint slides: Recruitment of Morinaga America Foods, Inc. to Orange County October 15, 2013 Orange County Economic Development Morinaga & Co., Ltd. • Founded in Tokyo, Japan in 1899. • U. S. subsidiary headquarters in Irvine, CA. • World-class confectionary & candy maker; $2 billion in annual global sales. • Over 40 product lines. • Ranks equal to Kellogg Company in worldwide sales. • Asia's equivalent to a Hershey's, Mars or Nestle. • #1 candy company in Japan. • Japan is the world's 2nd largest confectionery market. Morinaga & Co., Ltd. • Corporate philanthropy: "to be a company that improves the lives of children worldwide." • Partners with international NGOs in developing nations, places a special emphasis to promote healthy nutrition, and donates funding for school facilities & educational supplies in Africa. • 1 St Japanese corporation to be affiliated with the World Cocoa Foundation (WCF); works to prevent use of child labor in developing nations.