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AG 2017 03 20
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AG 2017 03 20
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Last modified
3/22/2017 9:00:14 AM
Creation date
11/27/2017 10:27:45 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
3/20/2017
Board
Board of Commissioners
Meeting Type
Regular
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Corning to Expand Midland Facility <br /> Corning Incorporated and its subsidiary, Corning Optical Communications LLC, announced it will invest$109 <br /> million to expand its existing optical fiber manufacturing facility in Midland, creating 200 jobs over the next two years. <br /> Corning will hire a variety of workers needed at the manufacturing facility, including operators, distribution staff, <br /> maintenance personnel and other workers. Salaries will vary by position, but the annual compensation for the <br /> company's new jobs will be the following: Cabarrus County: $58,146(average county wage is $37,808). <br /> Robert Carney, executive director of Cabarrus Economic Development Corporation, added "Cabarrus County is a hub <br /> for advanced technology because of innovative and industry-leading companies like Corning. We are proud to have this <br /> $109 million investment and growth of 200 additional jobs in our community." <br /> Click here to read more about the announcement. <br /> Alevo to Expand Manufacturing Operations at Concord Plant <br /> Alevo's plans to add additional production lines and equipment at its battery manufacturing facility in Concord will <br /> create just over 200 jobs and invest$251.5 million into the local economy. <br /> Both the Cabarrus County Board of Commissioners and Concord City Council supported the expansion and approved <br /> two 5-year, performance-based tax incentives totaling$4,291,596 for the City of Concord and $6,258,577 for Cabarrus <br /> County.The project also includes a Job Development Investment Grant(JDIG)for$2.6 million that was approved by the <br /> state's Economic Investment Committee. <br /> The Concord location is Alevo's first US manufacturing site where the rechargeable GriclBankT' Lithium-Ion battery <br /> storage system is made.The company, which currently has 215 full-time employees in Concord, will hire <br /> manufacturing, engineering, maintenance, logistics, supply chain and other employees. <br /> Salaries will vary by position, but the annual compensation for the company's 200-plus new jobs will average$56,327. <br /> Click here to read more about the announcement. <br /> Noteworthy News February Existing Industry Report <br /> • A few months ago, Cabarrus EDC released 5 videos <br /> on economic development in Cabarrus County. 9 Existing Industry& Business Visits (3 Follow-Ups) <br /> Click here to check them out. <br /> • Sign up to receive email notifications when a new 12 Partner Meetings <br /> blog is posted. 21 Solutions Provided <br /> Cabarrus Economic Development Team <br /> Robert Carney,Jr., Executive Director, rcarney @cabarrus.biz <br /> Samantha Grass, Recruitment Project Manager, sgrass @cabarrus.biz <br /> LeeAnn Nixon, Existing Industry Project Manager, Inixon @cabarrus.biz <br /> Josh Fernandez, Research & Marketing Coordinator,jfernandez @cabarrus.biz <br /> 3003 Dale Earnhardt Blvd, Suite 2, Kannapolis, NC 28083 (704) 782-4000, Option 2 1 www.cabarrusedc.com <br /> Im0 Attachment number 1 \n <br /> I-3 Page 219 <br />
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