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9 <br /> • Morinaga Celebrates Hi-Chew Factory Opening: <br /> • https://chapelboro.com/news/business/morinaga-celebrates-hi-chew-factory-opening <br /> • Japanese Candy Maker Finds Sweet Spot in North Carolina: https://edpnc.com/success- <br /> stories/iapanese-candy-maker-finds-sweet-spot-north-carolina/ <br /> FINANCIAL IMPACT: <br /> Performance Agreement: Based on the Company's proposed operation and net new capital <br /> investment forecast of $127,077,000 for a new building, machinery and equipment over the next <br /> five years, the attached Performance Agreement contract between Orange County and Morinaga <br /> America Foods, Inc. outlines a maximum total financial impact of $2,910,898). <br /> The Company will create at least 204 new production jobs with an average annual salary of <br /> $48,912 annually ($23.52 hourly). Other economic benefit multipliers to the County include <br /> enhanced job skills for those employees through advanced technical training to be provided by <br /> the Orange County campus of Durham Technical Community College in Hillsborough. Also, <br /> construction employment for the new 132,600 square foot facility will create many additional <br /> skilled trade jobs. <br /> ALIGNMENT WITH STRATEGIC PLAN: This item supports: <br /> • GOAL 6: DIVERSE AND VIBRANT ECONOMY <br /> OBJECTIVE 6. Provide workforce and business development resources to enhance the <br /> skills of residents of the County. <br /> RECOMMENDATION(S): The Manager recommends that the Board: <br /> (1) Receive the proposal to consider entering into a Performance Agreement for the purpose <br /> of incentivizing Morinaga America Foods, Inc. investment in Orange County's Buckhorn <br /> Economic Development District; <br /> (2) Conduct the Public Hearing and receive public comments; <br /> (3) Close the Public Hearing; and <br /> (4) Approve the performance-based incentive agreement between Orange County and <br /> Morinaga America Foods, Inc., subject to final review by the County Attorney, and <br /> authorize the Chair to sign the Performance Agreement on behalf of the County. <br />