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14 <br /> Slide #11 <br /> Orange County's Performance-Based Incentive <br /> Orange <br /> PropertyNew <br /> Tax $17,553 $22,660 $27,255 $31,392 $35,050 $133,910 <br /> Revenue <br /> Incentive <br /> Paymenti -$13,165 -$16,995 -$20,442 -$23,544 -$26,288 -$100,433 <br /> $4,388 $5,665 $6,814 $7,848 $8,763 $33,477 <br /> Orange <br /> PropertyNew $263,313 <br /> Incentive Payments $100,433 <br /> Total $162,880 <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> Steve Brantley emphasized that the incentive would be revenue positive for Orange <br /> County in all years. <br /> Slide #12 <br /> Benefits of CITEL Locating in Orange County <br /> • Creates 79 total full-time jobs,with benefits,to include 38 new full-time Jobs 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 property 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 commerciallindustrial 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 /> �1 <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br />