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8 <br /> 1 • $12 billion in annual sales <br /> 2 • 24,000 employees worldwide (8,300 new jobs added since 2014) <br /> 3 • Largest privately held manufacturer and distributor of medical supplies in the United <br /> 4 States: <br /> 5 o 43 medical grade distribution centers totaling 20 million sq. ft. <br /> 6 o 30 manufacturing centers producing 80,000 medical products <br /> 7 o 50+ distribution centers worldwide, including North America, Europe, Asia and <br /> 8 Australia, with 550,000+ Medline-brand and national brand products <br /> 9 o 2+ month of Medline-brand product inventory is held for each customer to protect <br /> 10 against unplanned demand increases and natural disaster response <br /> 11 o Primary supplier to U.S. Dept. of Homeland Security <br /> 12 o Fleet of 750 company-owned delivery trucks <br /> 13 • Regionally, the company operates two distribution centers in Lincolnton, NC and <br /> 14 Richmond, VA. <br /> 15 • 40% of Medline's U.S. distribution centers are LEED certified or are pending certification, <br /> 16 representing over 8.3 million sq. ft. of distribution center space. All new Medline <br /> 17 buildings worldwide are constructed to meet "green" LEED standards to promote <br /> 18 environmental efficiency. <br /> 19 <br /> 20 Summary of State & Local Financial Incentives <br /> 21 County's proposed incentive of$1,840,967 will be paid in 5 annual installments over 5 <br /> 22 years of Medline's start-up operation. <br /> 23 Performance based, and will be measured annually against verification of Medline's <br /> 24 actual history to create 250 jobs and invest$65,300,000 in new property valuation over <br /> 25 each of the initial 5 years, as proposed. <br /> 26 Net property tax revenue collected is positive in all years, after paying the annual <br /> 27 incentive; ($1,151,003 net revenue in first 6 years; and, $3.2 million in first 10 years) <br /> 28 <br /> 29 Commissioner McKee arrived at 7:15 p.m. <br /> 30 <br /> 31 Net Property Tax Revenues Collected- chart <br /> 32 (Projections) <br /> 33 <br /> 34 Commissioner Dorosin referred to the property tax incentive, and said it has been <br /> 35 reported in the media is that Orange County is paying $1.8 million. He asked if this is accurate. <br /> 36 Steve Brantley said that is not accurate. <br /> 37 Commissioner Dorosin said the County is not collecting that portion of the property taxes <br /> 38 during the incentive period. <br /> 39 Steve Brantley said that is correct. <br /> 40 John Roberts said the County collects all of the taxes from the company, and then <br /> 41 provides a percentage of it back to the company as the incentive. <br /> 42 Commissioner Greene referred to the last chart, and clarified that there are no payments <br /> 43 in 2020 until after building completion. She asked if the company owns the land already, or if it <br /> 44 will do so in 2020. <br /> 45 Steve Brantley said the company has an option on the property, and technically cannot <br /> 46 buy the property until it and the State of North Carolina have officially announced what there <br /> 47 decision would be, as to which state, and which county. He said the company would exercise <br /> 48 the option and purchase the land, at that point to actually own the property. <br /> 49 Commissioner Greene asked if this is expected to be in 2020. <br /> 50 Steve Brantley said it may be later this year, and construction would begin thereafter. <br /> 51 He said the company anticipates making the great majority of the total investment by the end of <br />