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4 <br /> 1 Manager to sign any contract amendments up to the maximum performance incentive amount of <br /> 2 $100,433. <br /> 3 <br /> 4 BACKGROUND: Local and state governments in North Carolina have the goal to promote <br /> 5 economic development by encouraging the location of new businesses and the expansion of <br /> 6 existing businesses. This activity serves to diversify the local tax base, increase employment <br /> 7 opportunities, and introduce desired job skills and related benefits to a community, and for the <br /> 8 benefit of its residents. The Local Government Act, North Carolina General Statute (NCGS) 158- <br /> 9 7.1, outlines the requirements of public hearings, and NCGS 158-7.1(a) specifically addresses <br /> 10 the requirement that economic development appropriations "must be determined by the governing <br /> 11 body of the city or county to increase the population, taxable property, agriculture industries, <br /> 12 employment, industrial output, or business prospects of the city or county". This public hearing <br /> 13 has been scheduled in compliance. <br /> 14 <br /> 15 Company Background: <br /> 16 CITEL America, Inc. is a privately owned French manufacturer of electrical Surge Protection <br /> 17 Devices (SPDs)that protect electronic and electric equipment from transient overvoltages caused <br /> 18 by lightning strikes, switching events, and electromagnetic interferences. The company was <br /> 19 formed in Paris, France in 1937 and expanded to the United States in 1985. <br /> 20 <br /> 21 CITEL has eight (8) international offices and research and development sites, as well as a large <br /> 22 network of international distributors and partners providing support directly in the communities <br /> 23 they are serving. <br /> Germany <br /> Eochnm <br /> �► s* France <br /> Faris 6 Raims _ <br /> 0—h <br /> USAFChina <br /> Miami E Hnnstnn Shanghai] <br /> Colombia UAE <br /> °uhai India <br /> Bogota <br /> New Delhi <br /> Thailand <br /> Eangknk <br /> 24 <br /> 25 <br /> 26 CITEL is the only SPD manufacturer that produces its own Gas Discharge Tubes (GDTs). In <br /> 27 addition to GDTs, the company develops many of its critical surge components internally including <br /> 28 thermally protected varistors and high-energy varistor assemblies, giving the company extensive <br /> 29 knowledge of every minute detail of the parts that form an SPD. These components have a long <br />