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<br /> 1 158-7.1, outlines the requirements of public hearings, and NCGS 158-7.1(a) specifically
<br /> 2 addresses the requirement that economic development appropriations "must be determined by
<br /> 3 the governing body of the city or county to increase the population, taxable property, agriculture
<br /> 4 industries, employment, industrial output, or business prospects of the city or county" This
<br /> 5 public hearing has been scheduled in compliance.
<br /> 6
<br /> 7 Well Dot, Inc. is an early-stage healthcare technology and services company that incorporated
<br /> 8 in January 2019. The company provides technology-enabled healthcare solutions to consumers
<br /> 9 via employers through a platform that enables consumers to navigate their health and wellness
<br /> 10 needs. Well Dot's current client portfolio includes firms such as the Bank of America, LabCorp,
<br /> 11 Extended Stay Hotels, FEDEX and Walmart. During the second quarter of 2019, Well Dot
<br /> 12 approached the Town of Chapel Hill and Orange County and expressed a desire to expand
<br /> 13 operations in either Chapel Hill, NC or Boston, MA, where the company also has an existing
<br /> 14 presence.
<br /> 15
<br /> 16 On November 19, 2019, North Carolina Governor Roy Cooper, joined by company
<br /> 17 representatives and local, county and state elected officials, announced the location of a new
<br /> 18 operations center in Chapel Hill. The Chapel Hill center will serve as the primary center for
<br /> 19 clinical and health experts, while also housing software developers, data analysts and corporate
<br /> 20 personnel. The North Carolina Department of Commerce committed $3,394,500 over 12 years
<br /> 21 through a performance-based agreement with the Job Development Invest Grant (JDIG)
<br /> 22 program. Over the course of the 12-year term of that grant, the project is estimated to grow the
<br /> 23 state's economy by $609 million. The North Carolina Community College System also
<br /> 24 committed to supporting the company with $480,000 in value through its Customized Training
<br /> 25 Program.
<br /> 26
<br /> 27 The Company will create at least 360 new full time jobs, at an annual rate of $63,665 plus
<br /> 28 benefits. Well Dot's salary average is higher than the 2022 Orange County average private
<br /> 29 sector wage of $59,026 per year. Other economic benefit multipliers to the County include
<br /> 30 additional daytime workers in downtown Chapel Hill, and enhanced job skills for those
<br /> 31 employees through customized training to be provided by the Orange County campus of
<br /> 32 Durham Technical Community College in Hillsborough. Also, construction employment for the
<br /> 33 facility upfit and remodeling will create additional skilled trade jobs.
<br /> 34
<br /> 35 On March 4, 2020 the Chapel Hill Town Council approved a performance based incentive
<br /> 36 agreement with a maximum investment of $900,000, with $450,000 tied to job creation and
<br /> 37 $450,000 in parking credits, payable over 8 years. The town's incentive program will be
<br /> 38 awarded based on the company meeting specific targets for new jobs.
<br /> 39
<br /> 40 Well Dot has an existing office location in Orange County at 419 W. Franklin St., Chapel Hill,
<br /> 41 highlighted in red on the map below, which will accommodate up to eighty-five initial employees
<br /> 42 in senior management. To house an additional 300+ jobs Well Dot plans to hire through 2025,
<br /> 43 a second location is envisioned nearby in downtown Chapel Hill. Therefore, the Company has
<br /> 44 identified the County's former Visitors Bureau building and the adjacent space previously
<br /> 45 occupied by the Skills Development Center as its desired and ideal location. These properties,
<br /> 46 highlighted in purple on the map below, are located at:
<br /> 47 • 501 W. Franklin Street, Chapel Hill, NC 27517 (PIN) 9788151996
<br /> 48 • 503 W. Franklin Street, Chapel Hill, NC 27517 (PIN) 9788151829
<br /> 49 0 108 S. Roberson Street, Chapel Hill, NC 27517 (PIN) 9788152822
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