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Agenda - 10-18-2016 - 5-b - Public Hearing Regarding an Economic Development Incentive for Wegmans Food Markets, Inc., and Interlocal Agreement Between Orange County & Chapel Hill
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Agenda - 10-18-2016 - 5-b - Public Hearing Regarding an Economic Development Incentive for Wegmans Food Markets, Inc., and Interlocal Agreement Between Orange County & Chapel Hill
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10/13/2016 4:36:55 PM
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10/13/2016 4:18:13 PM
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BOCC
Date
10/18/2016
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
5b
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2019-804 Economic Dev - Town of Chapel Hill interlocal agreement Wegmans
(Message)
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\Board of County Commissioners\Contracts and Agreements\General Contracts and Agreements\2010's\2019
Minutes 10-18-2016
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\Board of County Commissioners\Minutes - Approved\2010's\2016
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34 <br /> Outline of Performance Based Incentives ' ORANGE COUNTY <br /> 4, ECONOMIC DEVELOPMENT <br /> (on a $4 million dollar incentive) NORTH CAROLINA <br /> Wegmans will maintain employment consistent <br /> with the job chart below during the term of the <br /> incentive agreement. The award is calculated at <br /> 25% of the total incentive based on job creation. <br /> If the employment target is not achieved, the <br /> incentive payment will be reduced proportionally. <br /> FRI Employment Projections <br /> 1 St Year 2nd Year 3rd Year 4t" Year 5t" Year <br /> Full Time Jobs 185 185 185 185 185 <br /> Part Time Jobs 250 287 325 350 413 <br /> (Approximate) <br /> TOTAL (Full Time 285 300 315 325 350 <br /> Equivalent) <br />
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