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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: September 10, 2019 <br /> Action Agenda <br /> Item No. 1 <br /> SUBJECT: Public Hearing Regarding an Economic Development Recruitment Incentive for <br /> Medline Industries, Inc. (Project Tomorrow) <br /> DEPARTMENT: Economic Development <br /> Department, Manager's Office, <br /> Attorney's Office <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> A. Performance Agreement between Steve Brantley, Economic Development, <br /> Orange County & Medline (919) 245-2326 <br /> Industries Travis Myren, Deputy County Manager, <br /> B. PowerPoint Brief Summary (919) 245-2308 <br /> C. Public Hearing Newspaper Notice <br /> PURPOSE: To: <br /> 1) Receive and hold a public hearing on the issuance of a "performance-based" economic <br /> development incentive by the County to a private company; and <br /> 2) Consider approval of the proposed 5-year performance-based incentive agreement, with <br /> claw-back provisions, for the recruitment of Medline Industries' distribution center to <br /> Orange County, NC. <br /> BACKGROUND: Local and state government in North Carolina have the goal to promote <br /> economic development by encouraging the location of new businesses and the expansion of <br /> existing businesses. This activity serves to diversify the local tax base, increase employment <br /> opportunities and introduce desired job skills and related benefits to a community, and for the <br /> benefit of its residents. The Local Government Act, North Carolina General Statute (NCGS) <br /> 158-7.1 outlines the requirements of public hearings, and NCGS 158-7.1(a) specifically <br /> addresses the requirement that economic development appropriations "must be determined by <br /> the governing body of the city or county to increase the population, taxable property, agriculture <br /> industries, employment, industrial output, or business prospects of the city or county" This <br /> public hearing has been scheduled in compliance. <br /> Company Description: <br /> Founded in 1966, Medline Industries, Inc. is a privately held American healthcare company <br /> headquartered in Northfield, IL and is the largest privately held manufacturer and distributor of <br /> medical supplies in the United States, providing products, education, clinical programs and <br /> services with offices in 20 different countries. These distribution centers serve as regional hubs <br /> for next-day delivery service to hospitals, physicians' offices, surgical centers, care facilities, <br /> retailers and pharmacies. In 2019, Medline reached over $12 billion in overall company sales, <br /> having been ranked at number 32 on the Forbes 2016 list of largest privately held companies. <br />