Orange County NC Website
Browse       Search
30 <br /> Outline of Orange Countv's Performance-Based Incentive <br /> (1) County's proposed incentive of $86,261.00 will be paid in 5 <br /> annual instalments over each of the first 5 years of Piedmont <br /> Metalworks' start-up operation. <br /> (2) Calculated in value as a grant equal to 75% of the project's <br /> expected new property tax valuation to be created. <br /> (3) The incentive is performance-based, and will be measured <br /> annually against verification of Piedmont Metalworks' actual history <br /> to create 42 jobs and invest $4, 150,000.00 in new property <br /> valuation over each of the initial 5 years, as proposed. <br /> (4) Net property tax revenue collected is positive in all years, <br /> after paying the annual grant incentive. <br /> ➢ $28, 753.00 in net new revenue in the first 5 years <br /> ➢ $188,448.00 million in net new revenues over 10 years <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br />