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14 <br /> 1 Slide #11 <br /> Orange County's Performance-Based Incentive <br /> Orange County Revenue Projections(first 5 years) <br /> New <br /> Property <br /> $17,553 $22,660 $27,255 $31,392 $35,050 $133,916 <br /> Tax <br /> Revenue <br /> 413,165 -$16,995 -$20,442 -$23,544 -$26,288 -$100,433 <br /> SEEM <br /> $4,388 $5,665 $6,814 $7,848 $8,763 $33,477 <br /> Orange I <br /> Now • • $263,313 <br /> Incentive Payments $100,433 <br /> Total Net Revenues $162,880 <br /> ORANGE COUNTY <br /> NORTI I CAROLINA <br /> 2 <br /> 3 Steve Brantley emphasized that the incentive would be revenue positive for Orange <br /> 4 County in all years. <br /> 5 <br /> 6 Slide #12 <br /> Benefits of CITEL Locating in Orange County <br /> • Creates 79 total full-time jobs,with benefits,to include 38 new full-tune iobs to be <br /> created locally(in addition to the 41 jobs that will be offered relocation from Florida)to be <br /> created between 2025—2029,at an average annual wage of$83,611 or approximately <br /> $40.20 per hour. <br /> • Adds up to$6 million in new personal propertt investment(machinery and <br /> equipment)and$500,000 to$1,000,000 In new real property investment(building upfit <br /> improvements),to include the potential for solar panels. <br /> • Occupies a commercial/industrial building that is currently vacant in Hillsborough's <br /> Meadowlands business district. <br /> • Proposed incentive is revenue positive for the first 5 years,netting 25%per year of the <br /> forecasted net new property tax valuation. <br /> • Increased diversification of the County's economy through adding another light industrial <br /> manufacturer,and with international ties. <br /> • Orange County would become the firm's chief center of operations in the USA. <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> 7 <br /> 8 <br /> 9 <br />