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STATE OF NORTH CAROLINA ECONOMIC DEVELOPMENT <br /> GRANT AGREEMENT <br /> COUNTY OF CABARRUS (Project Ali) <br /> This ECONOMIC DEVELOPMENT GRANT AGREEMENT (the "Agreement") <br /> is made and entered as of the day of , 2017,by and <br /> between CABARRUS COUNTY, a body politic and political subdivision of the State of <br /> North Carolina("County"), and PROJECT ALI APPLICANT, a corporation("Project <br /> Ali Applicant"). <br /> RECITALS <br /> I. Project Ali Applicant is considering leasing approximately 500,000 <br /> square feet in a building in the County(the "Facility") and constructing new leasehold <br /> improvements and installing furniture, fixtures and equipment in the Facility at an <br /> estimated cost of at least Six Million, Four Hundred Thousand Dollars ($6,400,000.00) <br /> ("New Investment"). <br /> 2. The County has previously adopted an Industrial Development Grant <br /> Program (the "Program"), a copy of which is attached as Exhibit A and incorporated by <br /> reference, the public purpose of which is to encourage economic growth and <br /> development within the County. <br /> 3. Cabarrus Economic Development, Inc. (the "EDC")has reviewed the <br /> Project Ali Applicant application for inclusion in the Program and EDC's overview is <br /> attached as Exhibit B and incorporated by reference. <br /> 4. Project Ali Applicant has determined that location of a manufacturing and <br /> distribution facility in the Concord Airport Business Park Phase 3 in Concord,North <br /> Carolina (the "Site") in the County is a suitable location for the placement of the New <br /> Investment in the Facility. <br /> 5. Project Ali Applicant has determined that it will employ approximately <br /> 172 full time employees at the Facility, with a probable average annual wage of <br /> $53,826.00. <br /> 6. Although Project Ali Applicant has identified the Site and has negotiated a <br /> lease for the Site, it is not liable for the lease or required to move from Anson County <br /> unless it obtains economic development incentives from the County and the City of <br /> Concord. <br /> 7. To induce Project Ali Applicant to locate the New Investment in the <br /> Facility at the Site and to assist Project Ali Applicant in that activity, the County has <br /> offered incentives to Project Ali Applicant generally consistent with the Program. <br /> 1 <br /> Attachment number 1 \n <br /> G-1 Page 97 <br />