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2 <br /> 1 BACKGROUND: Local and state government in North Carolina have the goal to promote <br /> 2 economic development by encouraging the location of new businesses and the expansion of <br /> 3 existing businesses. This activity serves to diversify the local tax base, increase employment <br /> 4 opportunities and introduce desired job skills and related benefits to a community, and for the <br /> 5 benefit of its residents. The Local Government Act, North Carolina General Statute (NCGS) <br /> 6 158-7.1 outlines the requirements of public hearings, and NCGS 158-7.1(a) specifically <br /> 7 addresses the requirement that economic development appropriations "must be determined by <br /> 8 the governing body of the city or county to increase the population, taxable property, agriculture <br /> 9 industries, employment, industrial output, or business prospects of the city or county" This <br /> 10 public hearing has been scheduled in compliance. <br /> 11 <br /> 12 Company Description: <br /> 13 Founded in 1966, Medline Industries, Inc. is a privately held American healthcare company <br /> 14 headquartered in Northfield, IL and is the largest privately held manufacturer and distributor of <br /> 15 medical supplies in the United States, providing products, education, clinical programs and <br /> 16 services with offices in 20 different countries. These distribution centers serve as regional hubs <br /> 17 for next-day delivery service to hospitals, physicians' offices, surgical centers, care facilities, <br /> 18 retailers and pharmacies. In 2019, Medline reached over$12 billion in overall company sales, <br /> 19 having been ranked at number 32 on the Forbes 2016 list of largest privately held companies. <br /> 20 • Originally founded in Chicago in 1910 as "Mills Hospital Supply", and later renamed <br /> 21 "Medco", the firm is now the largest privately held manufacturer and distributor of <br /> 22 medical supplies in the United States. <br /> 23 • Manufactures 80,000 medical products in 30 company-owned manufacturing centers. <br /> 24 • Distributes 550,000 medical and surgical products in 7 countries. <br /> 25 • Operates 43 medical grade distribution centers totaling 20 million sq. ft. in size. <br /> 26 • Owns a fleet of 750 delivery trucks. <br /> 27 • Serves many international customers in 90 countries. <br /> 28 • Employs 24,000 total employees worldwide (8,300 new positions added since 2014), to <br /> 29 include 2,000 direct sales representatives. <br /> 30 • Serves as a primary supplier to U.S. Homeland Security, EMS agencies and other first <br /> 31 responders in cases of national emergencies. <br /> 32 • Owns the CURAD line of sterile adhesive bandages and gauze pads. <br /> 33 • Regionally, the company operates two 400,000 sq. ft. distribution centers in Lincolnton, <br /> 34 NC and Richmond, VA. <br /> 35 • 40% of Medline's U.S. distribution centers are LEED (Leadership in Energy and <br /> 36 Environmental Design) certified or pending certification, representing over 8.3 million <br /> 37 square feet of warehouse space. All new Medline buildings worldwide are constructed to <br /> 38 meet LEED "green" standards. <br /> 39 <br /> 40 A company representative has been invited and will be available for comment and questions. <br /> 41 <br /> 42 Protect Description: <br /> 43 (1) Investment— Medline Industries will increase real property valuation by up to $55,000,000 <br /> 44 and up to $10,300,000 in new personal property, to generate a total capital investment of <br /> 45 $65,300,000 over the first 5 years. <br />