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2 <br /> <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 /> <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 />• Originally founded in Chicago in 1910 as “Mills Hospital Supply”, and later renamed <br />“Medco”, the firm is now the largest privately held manufacturer and distributor of <br />medical supplies in the United States. <br />• Manufactures 80,000 medical products in 30 company-owned manufacturing centers. <br />• Distributes 550,000 medical and surgical products in 7 countries. <br />• Operates 43 medical grade distribution centers totaling 20 million sq. ft. in size. <br />• Owns a fleet of 750 delivery trucks. <br />• Serves many international customers in 90 countries. <br />• Employs 24,000 total employees worldwide (8,300 new positions added since 2014), to <br />include 2,000 direct sales representatives. <br />• Serves as a primary supplier to U.S. Homeland Security, EMS agencies and other first <br />responders in cases of national emergencies. <br />• Owns the CURAD line of sterile adhesive bandages and gauze pads. <br />• Regionally, the company operates two 400,000 sq. ft. distribution centers in Lincolnton, <br />NC and Richmond, VA. <br />• 40% of Medline’s U.S. distribution centers are LEED (Leadership in Energy and <br />Environmental Design) certified or pending certification, representing over 8.3 million <br />square feet of warehouse space. All new Medline buildings worldwide are constructed to <br />meet LEED “green” standards. <br /> <br />A company representative has been invited and will be available for comment and questions. <br /> <br />Project Description: <br />(1) Investment – Medline Industries will increase real property valuation by up to $55,000,000 <br />and up to $10,300,000 in new personal property, to generate a total capital investment of <br />$65,300,000 over the first 5 years. <br />