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Attachment 1 <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br /> <br />ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: July 23, 2019 <br /> Action Agenda <br /> Item No. 1 <br /> <br />SUBJECT: Public Hearing and Decision Regarding an Economic Development Recruitment <br />Incentive for ABB, Inc. <br /> <br />DEPARTMENT: Economic Development <br />Department, Manager’s Office, <br />Attorney’s Office <br /> <br /> <br /> <br />ATTACHMENT(S): <br />A. Performance Agreement between <br />Orange County & ABB, Inc. <br />B. Powerpoint Brief Summary <br />C. ABB, Inc. Detailed Project Overview <br />D. Public Hearing Notice <br />E. Orange County News Release <br />INFORMATION CONTACT: <br />Steve Brantley, Economic Development <br />Director, (919) 245-2326 <br /> Travis Myren, Deputy County Manager, <br />(919) 245-2308 <br /> <br /> <br /> <br /> <br />PURPOSE: To: <br />1) Conduct a public hearing on the issuance of a performance-based economic <br />development incentive by the County to a private company; and <br />2) Consider approval of a proposed five-year performance-based incentive agreement, with <br />claw-back provisions, for the recruitment of ABB, Inc.’s manufacturing facility expansion <br />in Orange County. <br /> <br />BACKGROUND: Local and state government in North Carolina have the goal to promote <br />economic development by encouraging the location of new businesses and the expansion of <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 for the benefit <br />of its residents. The Local Government Act, North Carolina General Statute (NCGS) 158-7.1 <br />outlines the requirements of public hearings, and NCGS 158-7.1(a) specifically addresses the <br />requirement that economic development appropriations “must be determined by the governing <br />body of the city or county to increase the population, taxable property, agriculture industries, <br />employment, industrial output, or business prospects of the city or county”. This public hearing <br />has been scheduled in compliance. <br /> <br />Project Description: <br />ABB, Inc., with an existing 400,000 square foot manufacturing facility located in western Orange <br />County, plans to invest $39.9 million to update the existing manufacturing facility and expand <br />the Company’s total facility size by an additional 200,000 square feet. ABB also plans to add <br />403 new jobs over the next 5 years of operation at this facility. These jobs will include <br />production, maintenance, office, and management staff and have an average salary of $70,789 <br />per year. <br />3