HomeMy WebLinkAboutRES-2013-078 Resolution Authorizing a Performance-Based Inducement Grant Between Orange County & Morinaga America Foods, Inc 1s - .2
RES-2013-078 A.
ORANGE COUNTY BOARD OF COMMISSIONERS
RESOLUTION AUTHORIZING A PERFORMANCE-BASED INDUCEMENT GRANT
BETWEEN ORANGE COUNTY & MORINAGA AMERICA FOODS, INC.
WHEREAS, North Carolina General Statute 158-7.1 authorizes a county to
undertake an economic development project by extending assistance to a
company in order to cause the company to locate or expand its operations within
the county; and
WHEREAS, the Board of Commissioners of Orange County has held a public
hearing to consider whether to participate in an economic development project
with Morinaga America Foods, Inc., and the County has offered to the Company
an inducement package as hereinafter set forth; and
WHEREAS, Morinaga America Foods, Inc. will construct a facility of approximately
98,000 sq. ft. for the manufacture of the Hi-Chew candy, making an investment of
at least $34 million and creating at least 90 new, permanent jobs in Orange
County, and
WHEREAS, this economic development project will stimulate, diversify and
stabilize the local economy, promote business in the County, and result in the
creation of a substantial number of jobs in the County, and
WHEREAS, but for the offer of an inducement package the Company would not
be locating its manufacturing facility within Orange County, and
WHEREAS, the Company has agreed to meet and continue meeting the minimum
investment and employment requirements as hereinafter set forth, and
WHEREAS, the State of North Carolina and the City of Mebane, North Carolina
have offered separate inducement packages to the Company;
THE BOARD OF COMMISSIONERS OF ORANGE COUNTY THEREFORE RESOLVES
THAT:
1. The County is authorized to expend a maximum of up to $1,545,000 of
county funds for the Morinaga America Foods, Inc. project.
2. The attached Performance Agreement between the County and Morinaga
America Foods, Inc. is approved.
3. The Chairman of the Board of Commissioners is authorized to execute the
contract and any other documents necessary to the project on behalf of the
County.
Adopted this the 15th day of October, 2013
Signed:
-*�? -- A----4
Barry Jac s, Ch
Orange Co oa d o mmissioners
Attest:
Donna Baker, Clerk
Orange County Board of Commissioners