Orange County NC Website
1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: November 19, 2019 <br /> Action Agenda <br /> Item No. 5-a <br /> SUBJECT: Public Hearing Regarding an Economic Development Recruitment Incentive for <br /> Piedmont Metalworks, LLC <br /> DEPARTMENT: Economic Development <br /> Manager's Office <br /> Attorney's Office <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> 1. Performance Agreement between Steve Brantley, Economic Development, <br /> Orange County & Piedmont (919) 245-2326 <br /> Metalworks, LLC Travis Myren, Deputy County Manager, <br /> 2. PowerPoint Brief Summary (919) 245-2308 <br /> 3. Public Hearing Media Notice <br /> PURPOSE: To: <br /> 1) Receive proposal information and hold a public hearing on the issuance of a <br /> "performance-based" economic development incentive by the County to a private <br /> company; and <br /> 2) Consider approval of the proposed 5-year performance-based incentive agreement, with <br /> claw-back provisions, for the recruitment of Piedmont Metalworks LLC's manufacturing <br /> facility to Orange County, NC. <br /> BACKGROUND: Local and state government in North Carolina have the goal to promote <br /> economic development by encouraging the location of new businesses and the expansion of <br /> existing businesses. This activity serves to diversify the local tax base, increase employment <br /> opportunities and introduce desired job skills and related benefits to a community, and for the <br /> benefit of its residents. The Local Government Act, North Carolina General Statute (NCGS) <br /> 158-7.1 outlines the requirements of public hearings, and NCGS 158-7.1(a) specifically <br /> addresses the requirement that economic development appropriations "must be determined by <br /> the governing body of the city or county to increase the population, taxable property, agriculture <br /> industries, employment, industrial output, or business prospects of the city or county" This <br /> public hearing has been scheduled in compliance. <br /> Project Description: <br /> Piedmont Metalworks, LLC is a locally-owned structural and sheet metal fabrication company <br /> serving industries throughout the Southeast United States. The firm's staff of 12 metalworking <br />