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23 <br /> Abstract from ATTACHMENT 2 <br /> 7/23/19 BOCC Meeting <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: July 23, 2019 <br /> Action Agenda <br /> Item No. 1 <br /> SUBJECT: Public Hearing and Decision Regarding an Economic Development Recruitment <br /> Incentive for ABB, Inc. <br /> DEPARTMENT: Economic Development <br /> Department, Manager's Office, <br /> Attorney's Office <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> A. Performance Agreement between Steve Brantley, Economic Development <br /> Orange County & ABB, Inc. Director, (919) 245-2326 <br /> B. PowerPoint Brief Summary Travis Myren, Deputy County Manager, <br /> C. ABB, Inc. Detailed Project Overview (919) 245-2308 <br /> D. Public Hearing Notice <br /> E. Orange County News Release <br /> PURPOSE: To: <br /> 1) Conduct a public hearing on the issuance of a performance-based economic development <br /> 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 in <br /> Orange County. <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 /> 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 the <br /> Company's total facility size by an additional 200,000 square feet. ABB also plans to add 403 <br />