Agenda - 06-24-1986 - Laserfiche WebLink

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EXHIBIT G NARRATIVE ON THE ECONOMIC CHARATERISTICS OF THE COMMUNITY Hillsborough is the County Seat of Orange County, North Carolina. The population of Hillsborough is around 3100, within the city limits. Within 5 miles of the town there are estimated to be another 3000+ residents. The manufacturing sector in Hillsborough employs approximately 800 people, which is down from 1350 people at the end of 1983. The reduction of more than one-third was due to the closure of The Cone Mills Eno Plant in early 1984, which resulted in the loss of 550 jobs. One major relocation took place in 1985, with the opening of a new facility by Parker Hannifin Corporation, which employs 50 people. In late 1985 and early 1986 employment has been growing slowly as small companies locate in the Hillsborough Business Center (formerly the Cone Mills Eno plant). The largest industrial employer now is Hillsborough Textiles, a traditional industry. Other companies locally are in metal working, furniture, printing. Two companies could be said to offer "high-tech"" or "new tech" jobs: Wilmore Electronics and Tecan, Inc. Isotechnologies, Inc. will therefore bring new jobs to a town which has not yet fully recovered from the severe job loss of two years ago, and will help to diversify the employment base, bringing "high-tech" jobs to a base which is heavily concentrated in the older, traditional industries. Furthermore, Hillsborough and Orange County are very sensitive to preserving the environment, and Isotechnologies, Inc. is the type of clean, non-polluting industry which the Economic Development Commission is most interested in encouraging. • ,The attached map shows the location of the Isotechnologies, Inc. site, at the center of circles representing a one-mile radius and a three-mile radius. The site is approximately two miles from the center of Hillsborough. The portions of the one-to-three mile area which are not shown on the map are rural residential, low density development, with some commercial, but no industrial development. The Isotechnologies site is located in an area which comprises part of the extra-territorial jurisdiction of Hillsborough, being outside the city limits, but zoned by the Town. The site is in the midst of an industrially zoned area, and there is no adjacent residential area. The nearest houses are approximately 3/4 mile away to the north across the Eno River, and to the south along US 70 Business. Within the one-mile circle are located W. H. Brady Co. (#1), Parker- Hannifin Corporation (#2), Wilmore Electronics (#3), Hines Liner (#4), the FCX livestock market (#6), and White Furniture (#7), while just beyond the one-mile radius is U.S. Plywood (#5) and commercial areas at the interchange of I-85 and NC 86. Nearby is a new business park called Meadowlands (#8); currently there are no tenants in this park. The remainder of the three-mile area is local commercial, residential, and the main shopping areas of the Town of Hillsborough. Beyond the three mile area to the north of town is Major Business Forms, and to the west is Hillsborough Business Center (#9) referred to above.