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5 <br /> <br />o New building construction of 200,000 sq. ft. (approx. half of the <br />investment) <br />o Additional improvements to 400,000 sq. ft. existing building <br />o Introduction of world-class sheet metal and copper fabrication equipment <br />o Transfer of personal property (Relocation of existing machinery from <br />another ABB plant to the Mebane plant; estimated at only 10-15% of the <br />total M&E investment to be made) <br />• 378 new jobs in first 2 years, increasing to 403 jobs by 5th year <br />• $70,789 average annual salary, plus benefits. <br />• Mebane operations would lose 110 jobs if MS site was selected. <br /> <br />Company History <br />• Multinational Swiss/Swedish company headquartered in Zurich, Switzerland <br />• Founded 130 years ago <br />• 147,000 employees globally <br />• Presence in over 100 countries <br />• 24,000 employees in the United States (2018) <br />o 3,000 in North Carolina & $45 million in annual payroll statewide <br />• 65 manufacturing locations in the United States (2018) <br />• Five market-leading entrepreneurial divisions: <br />o Electrification Products <br />o Power Grids (selling this division to Hitachi by 2020) <br />o Industrial Automation <br />o Robotics & Discrete Automation <br />o Motion Control (Industrial motors & drives, traction control) <br />• Orange County, NC’s GE Industrial Solutions was acquired in June 2018 to strengthen <br />ABB’s position in electrification globally, and expand access to the North America market <br />• ABB’s U.S. operations are headquartered in Cary, N.C.; a significant financial backer of <br />the North Carolina Theatre. <br />• With over 575 employees currently at ABB’s site in Mebane, the firm is Orange County’s <br />#1 largest private employer, the largest manufacturing employer, and pays the highest <br />average manufacturing salary among all industries in the County. <br /> <br />Outline of All Performance-Based Incentives (chart) <br /> <br />Forecast of ABB’s Capital Investment Schedule (chart) <br /> New Taxable Investment (Real & Personal Property) <br /> <br />Forecast of ABB’s New Job Creation (table) <br /> Hiring Schedule for New Jobs, with Benefits <br /> <br />Orange County Proposed Incentive <br />• Performance-based incentive on outlined jobs (403) and capital investment <br />($39,900,000) <br />• Up to $972,722 paid out over 5 years upon verification of actual jobs and investment <br />numbers per year <br />• Incentive value calculated at 75% of actual new property tax valuation <br /> <br />Orange County’s Performance-Based Incentive <br />State of N.C.’s Rural Division Building Reuse Incentive